Nordic American Tankers Limited (NAT) - Net Assets

Latest as of March 2026: $455.94 Million USD

Based on the latest financial reports, Nordic American Tankers Limited (NAT) has net assets worth $455.94 Million USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($901.26 Million) and total liabilities ($445.32 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. Check NAT capital-intensive asset ratio to assess the company's strategic physical and investment asset allocation.

Key Net Assets Metrics

Metric	Value
Current Net Assets	$455.94 Million
% of Total Assets	50.59%
Annual Growth Rate	3.51%
5-Year Change	-10.58%
10-Year Change	-48.85%
Growth Volatility	28.48

Nordic American Tankers Limited - Net Assets Trend (1997–2025)

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

Annual Net Assets for Nordic American Tankers Limited (1997–2025)

The table below shows the annual net assets of Nordic American Tankers Limited from 1997 to 2025. Also explore NAT net assets growth trend to track the company's year-over-year net asset growth rate.

Year	Net Assets	Change
2025-12-31	$445.52 Million	-12.44%
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 99.2% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	$1.40 Million	0.31%
Common Stock	$2.12 Million	0.48%
Other Comprehensive Income	$-1.16 Million	-0.26%
Other Components	$443.16 Million	99.47%
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
Shipping Corporation Of India Limited NSE:SCI	$1.36 Billion
LANXESS Aktiengesellschaft F:LXS	$1.36 Billion
Ramkrishna Forgings Limited NSE:RKFORGE	$1.36 Billion
Turning Point Brands Inc NYSE:TPB	$1.36 Billion
SFL Corporation Ltd F:UG6	$1.35 Billion
Longwell Co TWO:6290	$1.35 Billion
Crayon Group Holding ASA OL:CRAYN	$1.35 Billion
Gunkul Engineering Public Company Limited BK:GUNKUL	$1.35 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 12,270,000 contributed positively to equity growth.
Dividend payments of 84,700,000 reduced retained earnings.
Other comprehensive income increased equity by 667,000.
Other factors increased equity by 8,471,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	$12.27 Million	+2.75%
Dividends Paid	$84.70 Million	-19.01%
Other Comprehensive Income	$667.00K	+0.15%
Other Changes	$8.47 Million	+1.9%
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: 3.73x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has increased from 0.55x to 3.73x 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	$7.85	x
1998-12-31	$11.45	$7.85	x
1999-12-31	$12.80	$7.85	x
2000-12-31	$13.48	$7.85	x
2001-12-31	$11.52	$7.85	x
2002-12-31	$10.96	$7.85	x
2003-12-31	$10.89	$7.85	x
2004-12-31	$22.01	$7.85	x
2005-12-31	$24.30	$7.85	x
2006-12-31	$28.49	$7.85	x
2007-12-31	$23.75	$7.85	x
2008-12-31	$24.09	$7.85	x
2009-12-31	$22.13	$7.85	x
2010-12-31	$21.33	$7.85	x
2011-12-31	$18.40	$7.85	x
2012-12-31	$15.40	$7.85	x
2013-12-31	$13.34	$7.85	x
2014-12-31	$10.33	$7.85	x
2015-12-31	$9.88	$7.85	x
2016-12-31	$9.41	$7.85	x
2017-12-31	$8.09	$7.85	x
2018-12-31	$4.24	$7.85	x
2019-12-31	$4.18	$7.85	x
2020-12-31	$4.01	$7.85	x
2021-12-31	$3.07	$7.85	x
2022-12-31	$2.67	$7.85	x
2023-12-31	$2.58	$7.85	x
2024-12-31	$2.42	$7.85	x
2025-12-31	$2.10	$7.85	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: 4.20%
• Asset Turnover: 0.32x
• Equity Multiplier: 2.02x
Recent ROE (2.75%) is below the historical average (3.67%), suggesting potential challenges in 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
2025	2.75%	4.20%	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: $818,501,958
Average return on equity (ROE) among peers: 177.60%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Nordic American Tankers Limited (NAT)	$455.94 Million	1.89%	0.98x	$1.36 Billion
Antero Midstream Partners LP (AM)	$30.86 Million	1435.59%	0.55x	$10.12 Billion
CBL International Limited Ordinary Shares (BANL)	$25.29 Million	4.50%	1.11x	$12.00 Million
BP Prudhoe Bay Royalty Trust (BPT)	$25.01 Million	58.25%	0.00x	$2.99 Million
Brooge Holdings Ltd (BROG)	$78.49 Million	16.31%	4.83x	$284.93 Million
BW LPG Limited (BWLP)	$983.62 Million	-6.82%	1.30x	$3.30 Billion
Cheniere Energy Partners LP (CQP)	$715.00 Million	164.34%	26.11x	$29.93 Billion
Cheniere Energy Partners LP (CQP)	$639.00 Million	76.68%	26.47x	$25.77 Billion
DHT Holdings Inc (DHT)	$1.13 Billion	18.63%	0.41x	$2.56 Billion
Dynagas LNG Partners LP (DLNG)	$326.49 Million	1.11%	2.26x	$136.80 Million
DT Midstream Inc (DTM)	$4.23 Billion	7.38%	0.97x	$12.24 Billion

About Nordic American Tankers Limited

NYSE:NAT USA Oil & Gas Midstream

Market Cap

$1.66 Billion

Market Cap Rank

#7624 Global

#2293 in USA

Share Price

$7.85

Change (1 day)

+2.88%

52-Week Range

$3.08 - $7.85

All Time High

$8.72