Nordic American Tankers Limited (B3O) - Net Assets

Latest as of September 2025: €461.12 Million EUR ≈ $539.10 Million USD

Based on the latest financial reports, Nordic American Tankers Limited (B3O) has net assets worth €461.12 Million EUR (≈ $539.10 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€926.96 Million ≈ $1.08 Billion USD) and total liabilities (€465.84 Million ≈ $544.62 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Explore cash efficiency ratio of Nordic American Tankers Limited to assess how effectively this company generates cash.

Key Net Assets Metrics

Metric	Value
Current Net Assets	€461.12 Million
% of Total Assets	49.75%
Annual Growth Rate	-4.61%
5-Year Change	-15.07%
10-Year Change	-42.23%
Growth Volatility	6.62

Nordic American Tankers Limited - Net Assets Trend (2013–2024)

This chart illustrates how Nordic American Tankers Limited's net assets have evolved over time, based on quarterly financial data. For live valuation and market cap data, see Nordic American Tankers Limited (B3O) total market value.

Annual Net Assets for Nordic American Tankers Limited (2013–2024)

The table below shows the annual net assets of Nordic American Tankers Limited from 2013 to 2024. Read Nordic American Tankers Limited (B3O) financial obligations for a breakdown of total debt and financial obligations.

Year	Net Assets	Change
2024-12-31	€508.81 Million ≈ $594.86 Million	-5.48%
2023-12-31	€538.30 Million ≈ $629.33 Million	-0.31%
2022-12-31	€539.98 Million ≈ $631.30 Million	-1.84%
2021-12-31	€550.13 Million ≈ $643.16 Million	-8.18%
2020-12-31	€599.13 Million ≈ $700.44 Million	+0.62%
2019-12-31	€595.42 Million ≈ $696.11 Million	-1.10%
2018-12-31	€602.03 Million ≈ $703.84 Million	-15.33%
2017-12-31	€711.06 Million ≈ $831.31 Million	-18.37%
2016-12-31	€871.05 Million ≈ $1.02 Billion	-1.10%
2015-12-31	€880.72 Million ≈ $1.03 Billion	-0.92%
2014-12-31	€888.91 Million ≈ $1.04 Billion	+3.97%
2013-12-31	€854.98 Million ≈ $999.57 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Nordic American Tankers Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 9454400000.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Other Components	€519.69 Million	102.14%
Total Equity	€508.81 Million	100.00%

Nordic American Tankers Limited Competitors by Market Cap

The table below lists competitors of Nordic American Tankers Limited ranked by their market capitalization.

Company	Market Cap
Chengdu Guibao Science Tech SHE:300019	$1.08 Billion
Jinzhou Jixiang Molybdenum Co Ltd SHG:603399	$1.08 Billion
Medikaloka Hermina PT JK:HEAL	$1.08 Billion
Aktis Oncology, Inc. Common stock NASDAQ:AKTS	$1.08 Billion
Donnelley Financial Solutions Inc NYSE:DFIN	$1.08 Billion
Ho Chi Minh City Securities Corp VN:HCM	$1.08 Billion
Rukun Raharja Tbk JK:RAJA	$1.07 Billion
Colorlight Cloud Tech Ltd. A SHE:301391	$1.07 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Nordic American Tankers Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2023 to 2024, total equity changed from 538,334,000 to 508,813,000, a change of -29,521,000 (-5.5%).
Net income of 46,643,000 contributed positively to equity growth.
Dividend payments of 87,695,000 reduced retained earnings.
Share repurchases of 3,547,000 reduced equity.
New share issuances of 8,932,000 increased equity.
Other factors increased equity by 6,146,000.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	€46.64 Million	+9.17%
Dividends Paid	€87.69 Million	-17.24%
Share Repurchases	€3.55 Million	-0.7%
Share Issuances	€8.93 Million	+1.76%
Other Changes	€6.15 Million	+1.21%
Total Change	€-	-5.48%

Book Value vs Market Value Analysis

This analysis compares Nordic American Tankers Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 1.89x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has increased from 0.91x to 1.89x over the analyzed period, suggesting growing market confidence.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2017-12-31	€5.01	€4.54	x
2018-12-31	€4.24	€4.54	x
2019-12-31	€4.04	€4.54	x
2020-12-31	€3.96	€4.54	x
2021-12-31	€3.04	€4.54	x
2022-12-31	€2.59	€4.54	x
2023-12-31	€2.58	€4.54	x
2024-12-31	€2.40	€4.54	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Nordic American Tankers Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 9.17%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 13.34%
• Asset Turnover: 0.43x
• Equity Multiplier: 1.61x
Recent ROE (9.17%) is above the historical average (-2.56%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2013	-12.33%	-43.26%	0.21x	1.33x	€-190.92 Million
2014	-1.48%	-3.75%	0.30x	1.32x	€-102.06 Million
2015	13.02%	25.72%	0.36x	1.41x	€26.55 Million
2016	-0.51%	-1.25%	0.26x	1.55x	€-91.56 Million
2017	-28.83%	-68.98%	0.26x	1.60x	€-276.08 Million
2018	-15.83%	-32.98%	0.27x	1.78x	€-155.51 Million
2019	-1.74%	-3.26%	0.31x	1.73x	€-69.89 Million
2020	8.35%	21.42%	0.24x	1.63x	€-9.88 Million
2021	-21.71%	-61.01%	0.22x	1.64x	€-174.44 Million
2022	2.80%	4.45%	0.39x	1.63x	€-38.90 Million
2023	18.34%	25.20%	0.45x	1.63x	€44.88 Million
2024	9.17%	13.34%	0.43x	1.61x	€-4.24 Million

Industry Comparison

This section compares Nordic American Tankers Limited's net assets metrics with peer companies in the Oil & Gas Midstream industry.

Industry Context

Industry: Oil & Gas Midstream
Average net assets among peers: $6,766,019,714
Average return on equity (ROE) among peers: 10.48%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Nordic American Tankers Limited (B3O)	€461.12 Million	-12.33%	1.01x	$1.08 Billion
FLEX LNG Ltd (0QQA)	$907.09 Million	20.73%	1.95x	$1.26 Billion
HENGYANG PETROCHEM (5HY.SG) (5HY)	$549.50 Million	0.08%	0.00x	$14.27 Million
Golar LNG Limited (G2O)	$2.90 Billion	27.16%	0.48x	$3.88 Billion
COSCO SHIPPING Energy Transportation Co. Ltd (HIFH)	$38.99 Billion	10.36%	1.08x	$2.84 Billion
Scorpio Tankers Inc. (S0QA)	$2.55 Billion	21.42%	0.66x	$2.68 Billion
Tsakos Energy Navigation Limited (TK41)	$1.29 Billion	-11.72%	1.24x	$648.35 Million
AB Klaipedos nafta (XIC)	$174.72 Million	5.30%	0.27x	$130.27 Million

About Nordic American Tankers Limited

F:B3O Germany Oil & Gas Midstream

Market Cap

$1.12 Billion

€960.92 Million EUR

Market Cap Rank

#8771 Global

#1125 in Germany

Share Price

€4.54

Change (1 day)

-2.20%

52-Week Range

€2.09 - €5.31

All Time High

€7.03