Nordic American Tankers Limited (NAT) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 29.74M | 15.41M | 3.9M | 1.37M | -849K | 19.44M | 34.83M | 32.76M | 37.59M | 13.37M | 26.95M | 48.02M | 51.1M | 40.54M | -2.45M | -5.33M | -8.63M | -6.88M | -16.65M | -6.28M |
| Operating CF Margin % | 27.93% | 17.94% | 5.2% | 2.06% | -1.31% | 26.12% | 42.36% | 33.49% | 39.45% | 22.57% | 34.36% | 48.46% | 42.08% | 57.02% | -2.33% | -7.12% | -17.52% | -12.51% | -41.28% | -11.99% |
| Operating CF Growth % | 3602.83% | -20.71% | -88.8% | -95.81% | -102.26% | 45.36% | 29.21% | -31.78% | -26.44% | -67.02% | 1201.47% | 1000.6% | 692.19% | 689.02% | 85.3% | 15.12% | 41.07% | 52.29% | -333.85% | -107.63% |
| Net Income | 46.29M | 11.66M | -2.78M | -852K | 4.25M | 1.29M | 8.69M | 21.61M | 15.06M | 17.5M | 7.49M | 26.81M | 46.91M | 36.03M | 10.01M | -3.95M | -26.99M | -72.95M | -44.66M | -28.69M |
| Depreciation & Amortization | 14M | 14.2M | 15.32M | 14.97M | 13.25M | 14.72M | 13.79M | 13.94M | 14.14M | 14.72M | 11.73M | 13.66M | 12.72M | 16.32M | 10.15M | 14.66M | 12.87M | 19.27M | 16.26M | 18.74M |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 1.85M | 0 | 0 | 0 | 2.2M | 0 | 1.15M | 0 | 476K | 0 | 57K | 0 | 339K | 0 | 135K |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -30.55M | -10.44M | -8.64M | -12.74M | -18.34M | -19.59M | 18.03M | -8.46M | 8.4M | -24.87M | 18.82M | -4.69M | -8.53M | 19.57M | -45.2M | 6.5M | 5.48M | 56.51M | 5.8M | 9.48M |
| Working Capital Changes | 0 | 0 | 0 | 0 | 0 | 21.16M | -5.67M | 5.67M | 0 | 3.81M | -11.09M | 11.09M | 0 | -31.86M | 22.59M | -22.59M | 0 | -10.05M | 5.95M | -5.95M |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 10.06M | -3.48M | 3.48M | 0 | -5.81M | 7.06M | -7.06M | 0 | -11.1M | 2.01M | -2.01M | 0 | -3.02M | 6.51M | -6.51M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 13.86M | -3.35M | 3.35M | 0 | 7.07M | -17.11M | 17.11M | 0 | -18.07M | 15.77M | -15.77M | 0 | -7.31M | 240K | -240K |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | 50.4M | 1.25M | -42K | -98.69M | 9.78M | -86K | -471K | -1.88M | -186K | -73.19M | -137K | -130K | -217K | 15.74M | 15.41M | -57.51M | 12.02M | 11.94M | -13.18M | -1.15M |
| Capital Expenditures | 0 | 1.25M | -42K | -122.14M | -284K | -86K | -471K | -1.88M | -186K | -73.19M | -137K | -130K | -217K | -5.19M | -403K | -72.28M | -17.55M | -2.32M | -13.18M | -1.15M |
| CapEx % of Revenue | - | 1.45% | 0.06% | 183.05% | 0.44% | 0.12% | 0.57% | 1.92% | 0.2% | 123.51% | 0.17% | 0.13% | 0.18% | 7.29% | 0.38% | 96.47% | 35.62% | 4.21% | 32.69% | 2.2% |
| Acquisitions | 50.4M | 0 | 0 | 23.46M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 10.06M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20.92M | 15.82M | 14.77M | 29.56M | 14.26M | 0 | 0 |
| Cash from Financing | -44.94M | -38.61M | -30.61M | 88.35M | 49.87M | -24.38M | -33.27M | -33.2M | -20.65M | 19.09M | -55.2M | -6.55M | -53.01M | -44.05M | -12.39M | 63.8M | 1.65M | 1.75M | 25.13M | 7.72M |
| Debt Issued (Net) | -8.94M | -8.57M | -9.44M | 103.17M | 71.04M | -8.26M | -8.22M | -8.15M | -8.12M | 46.23M | -23.88M | -6.55M | -21.69M | -27.35M | -22.62M | 51.37M | -18.81M | -20.21M | -6.22M | -6.17M |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 14.26M | 12.43M | 22.41M | 25.48M | 31.35M | 17.03M |
| Dividends Paid | -36M | -27.53M | -21.18M | -14.82M | -21.18M | -25.06M | -25.05M | -25.05M | -12.53M | -27.14M | -31.32M | 0 | -31.32M | -16.7M | -4.03M | 0 | -1.95M | -3.52M | 0 | -3.13M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | -2.51M | 0 | 0 | 0 | 8.93M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Change in Cash | 35.26M | -21.72M | -26.91M | -8.74M | 58.85M | -4.45M | 1.25M | -2.45M | 16.67M | -40.68M | -28.37M | 41.29M | -2.18M | 12.25M | 372K | 1.01M | 5.03M | 6.79M | -4.71M | 249K |
| Free Cash Flow | 29.74M | 14.66M | 3.86M | -134M | -1.13M | 19.35M | 34.35M | 30.88M | 37.4M | -59.81M | 26.82M | 47.89M | 50.88M | 35.36M | -2.85M | -77.61M | -26.18M | -9.2M | -29.83M | -7.43M |
| FCF Margin % | 27.93% | 17.07% | 5.14% | -200.81% | -1.75% | 26% | 41.78% | 31.57% | 39.25% | -100.95% | 34.18% | 48.32% | 41.9% | 49.73% | -2.72% | -103.59% | -53.14% | -16.72% | -73.97% | -14.19% |
| FCF Growth % | 2724.8% | -24.24% | -88.77% | -533.9% | -103.03% | 132.35% | 28.11% | -35.51% | -26.49% | -269.18% | 1040.91% | 161.7% | 294.4% | 484.26% | 90.45% | -943.9% | -66.56% | 66.21% | -973.36% | -109.13% |
| FCF per Share | 0.14 | 0.07 | 0.02 | -0.63 | -0.01 | 0.09 | 0.16 | 0.15 | 0.18 | -0.29 | 0.13 | 0.23 | 0.24 | 0.17 | -0.01 | -0.39 | -0.14 | -0.05 | -0.18 | -0.05 |
| FCF Conversion (FCF/Net Income) | 0.64x | 1.32x | -1.40x | -1.61x | -0.20x | 15.01x | 4.01x | 1.52x | 2.50x | 0.76x | 3.60x | 1.79x | 1.09x | 1.13x | -0.24x | 1.35x | 0.32x | 0.33x | 0.37x | 0.22x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |