Company Analysis

Nordic American Tanker (NAT)

NYSE: NAT · Water Transportation · Hamilton Hm12, BM · filing with the SEC since 1997
Grade3.6
◀ Past 3.9● Present 3.5▶ Future 3.4
1 est.

The grade of Nordic American Tanker

Nine metrics read from its own filings, by tense
Headline grade
3.6/10
◀ Past3.930% of the headline
● Present3.540% of the headline
▶ Future3.430% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

3.9/1030% of the headline grade · 3 of 3 filed

Surviving crises

as filed
4.0/10

Has it survived what it has been through?

2 warning events since 2017; the latest 2022-05-03.

weight 33% of this tense · 39th percentile among 19 sector filers · read for itself

From the record

Nordic American Tanker's filings since 2017 show 2 warning events: a late-report notice (Form NT 10-K or NT 10-Q, 2 times, the latest 2022-05-03) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
2.3/10

What has it actually done, year after year?

-2.2% a year over 10 filed years; profitable in 5 of 10.

weight 45% of this tense · 23rd percentile among 19 sector filers · read for its customers

From the record

Nordic American Tanker's 10 filed years say what it did: revenue went from $357 million in fiscal 2016 to $292 million in fiscal 2025, down 2.2% a year; it rose in 4 of 9 years; the deepest fall was 47% from fiscal 2016 to fiscal 2021; net income was positive in 5 of 10 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span-2.2%bottom 9% of its family
  • the share of years revenue rosebottom 22% of its family
  • the share of filed years with a profitbottom 32% of its family
  • the deepest fall from a revenue peak46.5%bottom 29% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
7.2/10

How has it treated the people who own it?

Share count grew 1.6% a year. 91% of cash flow returned. Insiders: 0 sales, 0 purchases.

weight 22% of this tense · 72nd percentile among 16 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, Nordic American Tanker's diluted share count grew about 1.6% a year, and dividends and buybacks returned about 91% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-10-06 (their Form 4 filings).

What it rests on

  • the share count over the yearstop 47% of its family
  • cash returned against operating cash flowtop 9% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

3.5/1040% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed
3.6/10

Is it financially healthy right now?

ROE 3%: 3¢ of profit per shareholder dollar. Leverage 51%: owes 51¢ per asset dollar.

weight 33% of this tense · 36th percentile among 18 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Nordic American Tanker earned about 3 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 20 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 51 cents per dollar of assets, and net share issuance: its share count grew 0.9% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 42% of its family
  • return on equitybottom 21% of its family
  • gross profit against assetsbottom 30% of its family
  • the share count against the year beforebottom 36% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
2.2/10

How strong is its position in its industry?

bottom 22% of 18 in its family; net margin 4.2%.

weight 45% of this tense · 22nd percentile among 18 sector filers · read for its customers

From the record

Nordic American Tanker's standing among 18 graded names in its industry family: revenue of $292 million in fiscal 2025 ranks in the bottom 25% by size; a net margin of 4.2% ranks in the bottom 19%; revenue growth of -4.9% a year over the last 3 filed years ranks in the bottom 21% (its annual reports).

What it rests on

  • revenue against the family$292Mbottom 25% of its family
  • net margin4.2%bottom 19% of its family
  • three-year revenue growth-4.9%bottom 21% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate
5.8/10

What are the people in charge doing?

SI estimate 5.8/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 10 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-24 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 7 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 10 members with one.
What the record cannot read
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-24 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 7 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned
family median, 10 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Nordic American Tanker's leadership is put at 5.8 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-24 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 7 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 10 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

3.4/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
4.2/10

How much room does it have to grow?

bottom 42% of 17 in its family for room to expand.

weight 22% of this tense · 42nd percentile among 17 sector filers · read for itself

From the record

Nordic American Tanker's room to grow, from the newest filed statements (fiscal 2025): cash of $46 million against debt of $389 million leaves -38% of its assets as net cash, bottom 29% of its family; cash from operations less capital spending is 6.8% of revenue (bottom 28%); a gross margin of 62.3% (top 30%) (its annual report).

What it rests on

  • cash less debt against assets-38.0%bottom 29% of its family
  • cash from operations less capital spending against revenue6.8%bottom 28% of its family
  • gross margin62.3%top 30% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
2.9/10

What could actually drive growth from here?

bottom 29% of 17 in its family for growth drivers.

weight 45% of this tense · 29th percentile among 17 sector filers · read for its customers

From the record

Nordic American Tanker's growth drivers, from the filed years to fiscal 2025: revenue grew -4.9% a year over the last three filed years against -2.2% over all 10, slowing (bottom 38% of its family); the newest year grew -16.6% (bottom 21%) (its annual reports). Nordic American Tanker reported 2 product lines in fiscal 2025: Spot Charter at $212 million (73%), Time Charter at $80 million (27%); 1 of 2 grew against the year before (its annual report).

What it rests on

  • three-year growth against the whole span-2.7 points a yearbottom 38% of its family
  • the newest year's revenue growth-16.6%bottom 21% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
3.4/10

Did its newest year beat what its own record pointed to?

bottom 34% of 16 in its family for expectations against reality.

weight 33% of this tense · 34th percentile among 16 sector filers · read for its shareholders

From the record

Nordic American Tanker's newest year against its own record: revenue of $292 million in fiscal 2025 came in 17.8% below the $355 million its prior three years' pace pointed to (top 47% of its family); net income of $12 million against a prior three-year average of $53 million (bottom 15%); a net margin of 4.2% against 14.3% before (bottom 34%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-17.8%top 47% of its family
  • net income against the prior three years' average-77%bottom 15% of its family
  • net margin against its prior average-10.1 pointsbottom 34% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton NAT · research, not advice