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, 2024, the company fleet consisted of 20 Suezmax crude oil tankers. Nordic American Tankers Limited was incorporated in 1995 and is based in Hamilton, Bermuda.
Nordic American Tankers Limited (NAT) - Net Assets
Latest net assets as of September 2025: $461.12 Million USD
Based on the latest financial reports, Nordic American Tankers Limited (NAT) has net assets worth $461.12 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) and total liabilities ($465.84 Million). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $461.12 Million |
| % of Total Assets | 49.75% |
| Annual Growth Rate | 4.16% |
| 5-Year Change | -15.07% |
| 10-Year Change | -42.23% |
| Growth Volatility | 28.77 |
Nordic American Tankers Limited - Net Assets Trend (1997–2024)
This chart illustrates how Nordic American Tankers Limited's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Nordic American Tankers Limited (1997–2024)
The table below shows the annual net assets of Nordic American Tankers Limited from 1997 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $508.81 Million | -5.48% |
| 2023-12-31 | $538.30 Million | -0.31% |
| 2022-12-31 | $539.98 Million | +8.38% |
| 2021-12-31 | $498.22 Million | -16.84% |
| 2020-12-31 | $599.13 Million | +0.62% |
| 2019-12-31 | $595.42 Million | -1.10% |
| 2018-12-31 | $602.03 Million | -28.37% |
| 2017-12-31 | $840.52 Million | -3.50% |
| 2016-12-31 | $871.05 Million | -1.10% |
| 2015-12-31 | $880.72 Million | -0.15% |
| 2014-12-31 | $882.08 Million | +3.17% |
| 2013-12-31 | $854.98 Million | +5.63% |
| 2012-12-31 | $809.38 Million | -6.71% |
| 2011-12-31 | $867.56 Million | -12.63% |
| 2010-12-31 | $992.96 Million | +6.30% |
| 2009-12-31 | $934.08 Million | +18.45% |
| 2008-12-31 | $788.59 Million | +17.33% |
| 2007-12-31 | $672.11 Million | +9.83% |
| 2006-12-31 | $611.95 Million | +65.00% |
| 2005-12-31 | $370.87 Million | +67.16% |
| 2004-12-31 | $221.87 Million | +109.89% |
| 2003-12-31 | $105.71 Million | -0.60% |
| 2002-12-31 | $106.35 Million | -4.91% |
| 2001-12-31 | $111.84 Million | -14.49% |
| 2000-12-31 | $130.80 Million | +2.20% |
| 1999-12-31 | $127.98 Million | -5.43% |
| 1998-12-31 | $135.33 Million | -20.16% |
| 1997-12-31 | $169.50 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 decreased by 106.4% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $2.12 Million | 0.42% |
| Other Comprehensive Income | $-1.82 Million | -0.36% |
| Other Components | $519.39 Million | 102.08% |
| 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 |
|---|---|
|
Vipshop Holdings Limited
NYSE:VIPS
|
$961.46 Million |
|
Netmarble Games Corp
KO:251270
|
$961.51 Million |
|
ID Logistics SAS
F:1ID
|
$961.68 Million |
|
China South Publishing & Media Group Co Ltd
SHG:601098
|
$961.90 Million |
|
Brigade Enterprises Limited
NSE:BRIGADE
|
$961.22 Million |
|
Collegium Pharmaceutical Inc
NASDAQ:COLL
|
$961.17 Million |
|
PROG HOLDINGS A DL-50
F:AZD
|
$960.90 Million |
|
Piramal Pharma Limited
NSE:PPLPHARMA
|
$960.51 Million |
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 538,304,000 to 508,813,000, a change of -29,491,000 (-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 comprehensive income increased equity by 272,000.
- Other factors increased equity by 5,904,000.
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 Comprehensive Income | $272.00K | +0.05% |
| Other Changes | $5.90 Million | +1.16% |
| 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: 2.17x
- 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 0.37x to 2.17x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1997-12-31 | $14.30 | $5.25 | x |
| 1998-12-31 | $11.45 | $5.25 | x |
| 1999-12-31 | $12.80 | $5.25 | x |
| 2000-12-31 | $13.48 | $5.25 | x |
| 2001-12-31 | $11.52 | $5.25 | x |
| 2002-12-31 | $10.96 | $5.25 | x |
| 2003-12-31 | $10.89 | $5.25 | x |
| 2004-12-31 | $22.01 | $5.25 | x |
| 2005-12-31 | $24.30 | $5.25 | x |
| 2006-12-31 | $28.49 | $5.25 | x |
| 2007-12-31 | $23.75 | $5.25 | x |
| 2008-12-31 | $24.09 | $5.25 | x |
| 2009-12-31 | $22.13 | $5.25 | x |
| 2010-12-31 | $21.33 | $5.25 | x |
| 2011-12-31 | $18.40 | $5.25 | x |
| 2012-12-31 | $15.40 | $5.25 | x |
| 2013-12-31 | $13.34 | $5.25 | x |
| 2014-12-31 | $10.33 | $5.25 | x |
| 2015-12-31 | $9.88 | $5.25 | x |
| 2016-12-31 | $9.41 | $5.25 | x |
| 2017-12-31 | $8.09 | $5.25 | x |
| 2018-12-31 | $4.24 | $5.25 | x |
| 2019-12-31 | $4.18 | $5.25 | x |
| 2020-12-31 | $4.01 | $5.25 | x |
| 2021-12-31 | $3.07 | $5.25 | x |
| 2022-12-31 | $2.67 | $5.25 | x |
| 2023-12-31 | $2.58 | $5.25 | x |
| 2024-12-31 | $2.42 | $5.25 | 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 (3.71%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1997 | 1.89% | 60.70% | 0.03x | 1.01x | $-13.75 Million |
| 1998 | 6.38% | 53.91% | 0.10x | 1.23x | $-4.90 Million |
| 1999 | 4.51% | 39.06% | 0.09x | 1.24x | $-7.02 Million |
| 2000 | 21.15% | 75.65% | 0.23x | 1.23x | $14.59 Million |
| 2001 | 17.33% | 68.36% | 0.20x | 1.28x | $8.20 Million |
| 2002 | 8.32% | 48.99% | 0.13x | 1.30x | $-1.79 Million |
| 2003 | 26.58% | 75.19% | 0.27x | 1.30x | $17.53 Million |
| 2004 | 18.40% | 60.51% | 0.30x | 1.01x | $18.63 Million |
| 2005 | 12.49% | 39.55% | 0.23x | 1.36x | $9.23 Million |
| 2006 | 11.01% | 38.40% | 0.22x | 1.31x | $6.20 Million |
| 2007 | 6.58% | 23.64% | 0.23x | 1.20x | $-23.00 Million |
| 2008 | 15.07% | 52.12% | 0.28x | 1.03x | $39.99 Million |
| 2009 | 0.11% | 0.81% | 0.13x | 1.01x | $-92.40 Million |
| 2010 | -0.08% | -0.64% | 0.12x | 1.09x | $-100.10 Million |
| 2011 | -8.33% | -76.27% | 0.08x | 1.30x | $-159.05 Million |
| 2012 | -9.04% | -56.01% | 0.12x | 1.34x | $-154.13 Million |
| 2013 | -12.33% | -43.26% | 0.21x | 1.33x | $-190.92 Million |
| 2014 | -1.49% | -3.75% | 0.30x | 1.33x | $-101.37 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 | -24.39% | -68.98% | 0.23x | 1.51x | $-289.02 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% | 14.11% | 0.36x | 1.63x | $-9.88 Million |
| 2021 | -23.97% | -61.01% | 0.23x | 1.71x | $-169.25 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: $1,230,397,219
- Average return on equity (ROE) among peers: 2202.95%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Nordic American Tankers Limited (NAT) | $461.12 Million | 1.89% | 1.01x | $961.35 Million |
| Antero Midstream Partners LP (AM) | $142.86 Million | 0.00% | 0.21x | $7.58 Billion |
| AltaGas Ltd (ATGFF) | $2.83 Billion | 7.11% | 1.57x | $8.06 Billion |
| ATGPF (ATGPF) | $7.86 Billion | 8.56% | 1.98x | $4.11 Billion |
| Avance Gas Holding Ltd (AVACF) | $603.79 Million | 27.09% | 0.91x | $7.70K |
| CBL International Limited Ordinary Shares (BANL) | $12.11 Million | 30.42% | 1.11x | $3.17 Million |
| BP Prudhoe Bay Royalty Trust (BPT) | $863.00K | 22418.66% | 0.16x | $2.99 Million |
| Brooge Holdings Ltd (BROG) | $78.49 Million | 16.31% | 4.83x | $32.39 Million |
| Brooge Energy Limited (BROGW) | $56.77 Million | -85.14% | 7.56x | $5.67K |
| Willow Biosciences Inc (CANSF) | $1.10 Million | -405.25% | 0.17x | $2.85 Million |
| Cool Company Ltd (CLCO) | $715.51 Million | 11.75% | 1.88x | $145.96 Million |