Nordic American Tankers Limited (B3O) - Net Assets
Based on the latest financial reports, Nordic American Tankers Limited (B3O) has net assets worth €445.52 Million EUR (≈ $520.86 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€902.16 Million ≈ $1.05 Billion USD) and total liabilities (€456.64 Million ≈ $533.86 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. Check Nordic American Tankers Limited (B3O) tangible net worth to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €445.52 Million |
| % of Total Assets | 49.38% |
| Annual Growth Rate | -5.29% |
| 5-Year Change | -19.02% |
| 10-Year Change | -48.85% |
| Growth Volatility | 6.72 |
Nordic American Tankers Limited - Net Assets Trend (2013–2025)
This chart illustrates how Nordic American Tankers Limited's net assets have evolved over time, based on quarterly financial data. See operational self-sufficiency of Nordic American Tankers Limited to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Nordic American Tankers Limited (2013–2025)
The table below shows the annual net assets of Nordic American Tankers Limited from 2013 to 2025. For live valuation and market cap data, see Nordic American Tankers Limited stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €445.52 Million ≈ $520.86 Million |
-12.44% |
| 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 |
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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 10681500000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €1.40 Million | 0.31% |
| Other Components | €444.12 Million | 99.69% |
| Total Equity | €445.52 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 |
|---|---|
|
Trican Well Service Ltd.
TO:TCW
|
$1.04 Billion |
|
BTS Group Holdings Public Company Limited
BK:BTS
|
$1.04 Billion |
|
Lontium Semiconductor Corp. A
SHG:688486
|
$1.04 Billion |
|
Fujian Forecam Optics Co Ltd
SHG:688010
|
$1.04 Billion |
|
Shenzhen Chengtian Weiye Technology Co Ltd
SHE:300689
|
$1.04 Billion |
|
Artivion Inc
NYSE:AORT
|
$1.04 Billion |
|
I.E.S Holdings Ltd
TA:IES
|
$1.04 Billion |
|
CONMED Corporation
NYSE:CNMD
|
$1.04 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 2024 to 2025, total equity changed from 508,813,000 to 445,521,000, a change of -63,292,000 (-12.4%).
- Net income of 12,271,000 contributed positively to equity growth.
- Dividend payments of 84,700,000 reduced retained earnings.
- Other factors increased equity by 9,137,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €12.27 Million | +2.75% |
| Dividends Paid | €84.70 Million | -19.01% |
| Other Changes | €9.14 Million | +2.05% |
| Total Change | €- | -12.44% |
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: 2.21x
- 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 0.93x to 2.21x 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 | €4.64 | x |
| 2018-12-31 | €4.24 | €4.64 | x |
| 2019-12-31 | €4.04 | €4.64 | x |
| 2020-12-31 | €3.96 | €4.64 | x |
| 2021-12-31 | €3.04 | €4.64 | x |
| 2022-12-31 | €2.59 | €4.64 | x |
| 2023-12-31 | €2.58 | €4.64 | x |
| 2024-12-31 | €2.40 | €4.64 | x |
| 2025-12-31 | €2.10 | €4.64 | 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): 2.75%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.21%
- • Asset Turnover: 0.32x
- • Equity Multiplier: 2.02x
- Recent ROE (2.75%) is above the historical average (-2.15%), 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 |
| 2025 | 2.75% | 4.21% | 0.32x | 2.02x | €-32.28 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: $4,255,711,966
- Average return on equity (ROE) among peers: -4.25%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Nordic American Tankers Limited (B3O) | €445.52 Million | -12.33% | 1.02x | $1.04 Billion |
| FLEX LNG Ltd (0QQA) | $806.63 Million | 14.59% | 2.31x | $1.26 Billion |
| NAVIGATOR HLDGS LTD (1NV) | $1.25 Billion | 6.87% | 0.75x | $1.20 Billion |
| BROOGE ENERGY DL-0001 (3SF) | $56.77 Million | -85.14% | 7.56x | $243.29 Million |
| HENGYANG PETROCHEM (5HY.SG) (5HY) | $552.92 Million | -4.26% | 0.00x | $14.27 Million |
| Golar LNG Limited (G2O) | $2.60 Billion | -1.80% | 0.57x | $3.88 Billion |
| FRONTLINE PLC DL 1 (HF6) | $1.64 Billion | -0.91% | 1.50x | $7.11 Billion |
| COSCO SHIPPING Energy Transportation Co. Ltd (HIFH) | $27.42 Billion | 7.01% | 1.12x | $2.68 Billion |
| Scorpio Tankers Inc. (S0QA) | $2.55 Billion | 21.42% | 0.66x | $3.59 Billion |
| Tsakos Energy Navigation Limited (TK41) | $1.42 Billion | 3.94% | 1.31x | $1.11 Billion |
About Nordic American Tankers Limited
Nordic American Tankers Limited, a tanker company, owns, operates, and charters double-hull tankers in Bermuda and internationally. As of December 31, 2025, the company fleet consisted of 20 Suezmax crude oil tankers. It serves oil companies, oil traders, and other entities requiring crude oil transportation services. The company was formerly known as Nordic American Tanker Shipping Limited and c… Read more