Nordic American Tankers Limited (NAT) Financial Ratios
28 years of historical data (1997–2024) · Industrials · Marine Shipping
EV/EBITDA
↑
10.88
↑+61% vs avg
5yr avg: 6.75
30Y Low4.8·High80.2
P/FCF
↓
9.73
↑+31% vs avg
5yr avg: 7.42
30Y Low3.7·High13.9
P/B Ratio
↑
2.38
↑+134% vs avg
5yr avg: 1.02
30Y Low0.3·High1.8
ROE
↑
8.9%
↓+166% vs avg
5yr avg: 3.3%
30Y Low-24%·High27%
Debt/EBITDA
↓
2.02
↓-16% vs avg
5yr avg: 2.41
30Y Low0.1·High23.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
NAT Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Nordic American Tankers Limited trades at 26.2x earnings, 50% above its 5-year average of 17.5x, sitting at the 88th percentile of its historical range. This is roughly in line with the Industrials sector median P/E of 25.9x. On a free-cash-flow basis, the stock trades at 9.7x P/FCF, 31% above the 5-year average of 7.4x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.2B | $525M | $877M | $618M | $275M | $440M | $701M | $284M | $255M | $777M | $1.4B |
| Enterprise Value | $1.5B | $755M | $1.1B | $865M | $561M | $739M | $1.1B | $671M | $586M | $1.1B | $1.7B |
| P/E Ratio → | 26.23 | 11.36 | 8.94 | 40.91 | — | 8.68 | — | — | — | — | 12.05 |
| P/S Ratio | 3.49 | 1.50 | 2.24 | 1.82 | 1.40 | 1.24 | 2.21 | 0.98 | 0.86 | 2.17 | 3.11 |
| P/B Ratio | 2.38 | 1.03 | 1.63 | 1.14 | 0.55 | 0.74 | 1.18 | 0.47 | 0.30 | 0.89 | 1.57 |
| P/FCF | 9.73 | 4.18 | 13.33 | — | — | 4.74 | 13.94 | — | — | — | — |
| P/OCF | 9.53 | 4.09 | 6.29 | 25.62 | — | 3.97 | 13.27 | — | 8.05 | 6.08 | 7.95 |
P/E links to full P/E history page with 30-year chart
NAT EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Nordic American Tankers Limited's enterprise value stands at 10.9x EBITDA, 61% above its 5-year average of 6.8x. The Industrials sector median is 13.9x, placing the stock at a 22% discount on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.16 | 2.93 | 2.55 | 2.87 | 2.08 | 3.32 | 2.32 | 1.97 | 3.18 | 3.78 |
| EV / EBITDA | 10.88 | 5.66 | 6.40 | 9.99 | — | 4.96 | 10.97 | 21.74 | 10.76 | 8.19 | 8.00 |
| EV / EBIT | 18.79 | 9.76 | 8.87 | 20.50 | — | 9.08 | 32.61 | — | — | 21.25 | 13.15 |
| EV / FCF | — | 6.02 | 17.45 | — | — | 7.96 | 20.91 | — | — | — | — |
NAT Profitability
Margins and return-on-capital ratios measuring operating efficiency
Nordic American Tankers Limited earns an operating margin of 22.1%, significantly above the Industrials sector average of 4.9%. Operating margins have expanded from 10.7% to 22.1% over the past 3 years, signaling improving operational efficiency. ROE of 8.9% is modest. ROIC of 7.5% represents adequate returns on invested capital versus a sector median of 6.3%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 30.3% | 30.3% | 38.5% | 16.2% | -35.0% | 27.9% | 14.3% | -5.9% | -11.3% | 16.9% | 30.9% |
| Operating Margin | 22.1% | 22.1% | 32.7% | 10.7% | -43.0% | 22.9% | 10.1% | -10.3% | -15.6% | 13.4% | 28.7% |
| Net Profit Margin | 13.3% | 13.3% | 25.2% | 4.5% | -61.0% | 14.1% | -3.3% | -33.0% | -69.0% | -1.2% | 25.7% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.9% | 8.9% | 18.3% | 2.9% | -21.8% | 8.4% | -1.7% | -13.2% | -24.0% | -0.5% | 13.0% |
| ROA | 5.5% | 5.5% | 11.2% | 1.7% | -13.1% | 5.0% | -1.0% | -8.1% | -15.6% | -0.3% | 9.5% |
| ROIC | 7.5% | 7.5% | 12.0% | 3.5% | -7.5% | 6.6% | 2.5% | -2.1% | -2.9% | 3.0% | 8.7% |
| ROCE | 9.9% | 9.9% | 15.8% | 4.5% | -9.8% | 8.5% | 3.2% | -2.6% | -3.6% | 3.8% | 10.8% |
NAT Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Nordic American Tankers Limited carries a Debt/EBITDA ratio of 2.0x, which is manageable (36% below the sector average of 3.2x). Net debt stands at $231M ($270M total debt minus $39M cash). Interest coverage of just 2.5x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.53 | 0.53 | 0.56 | 0.57 | 0.64 | 0.60 | 0.67 | 0.73 | 0.46 | 0.51 | 0.37 |
| Debt / EBITDA | 2.02 | 2.02 | 1.68 | 3.53 | — | 2.39 | 4.17 | 14.14 | 7.14 | 3.19 | 1.57 |
| Net Debt / Equity | — | 0.45 | 0.50 | 0.46 | 0.57 | 0.50 | 0.59 | 0.64 | 0.39 | 0.41 | 0.34 |
| Net Debt / EBITDA | 1.73 | 1.73 | 1.51 | 2.85 | — | 2.00 | 3.66 | 12.54 | 6.07 | 2.60 | 1.42 |
| Debt / FCF | — | 1.84 | 4.11 | — | — | 3.22 | 6.97 | — | — | — | — |
| Interest Coverage | 2.52 | 2.52 | 4.19 | 1.34 | -3.19 | 2.59 | 0.75 | -0.61 | -2.19 | 4.26 | 11.62 |
NAT Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.65x means Nordic American Tankers Limited can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 1.18x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 1.97x to 1.65x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.65 | 1.65 | 1.55 | 1.97 | 1.58 | 2.51 | 2.19 | 3.11 | 5.01 | 7.61 | 6.45 |
| Quick Ratio | 1.18 | 1.18 | 0.94 | 1.29 | 1.27 | 2.02 | 1.81 | 2.55 | 4.10 | 6.64 | 5.62 |
| Cash Ratio | 0.66 | 0.66 | 0.44 | 0.82 | 0.51 | 1.46 | 0.84 | 1.36 | 2.30 | 3.82 | 1.67 |
| Asset Turnover | — | 0.43 | 0.45 | 0.39 | 0.23 | 0.36 | 0.31 | 0.27 | 0.23 | 0.26 | 0.36 |
| Inventory Turnover | 8.55 | 8.55 | 5.69 | 5.75 | 12.66 | 13.18 | 12.09 | 15.09 | 14.33 | 14.23 | 20.74 |
| Days Sales Outstanding | — | 16.93 | 24.50 | 22.02 | 17.48 | 6.53 | 28.29 | 28.53 | 27.61 | 18.45 | 23.42 |
NAT Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Nordic American Tankers Limited returns 7.5% to shareholders annually — split between a 7.2% dividend yield and 0.3% buyback yield. The payout ratio exceeds 100% at 188.0%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 3.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 7.2% | 16.7% | 10.2% | 3.7% | 3.5% | 15.3% | 2.0% | 3.5% | 21.2% | 16.2% | 8.9% |
| Payout Ratio | 188.0% | 188.0% | 91.0% | 150.2% | — | 134.4% | — | — | — | — | 107.4% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.8% | 8.8% | 11.2% | 2.4% | — | 11.5% | — | — | — | — | 8.3% |
| FCF Yield | 10.3% | 23.9% | 7.5% | — | — | 21.1% | 7.2% | — | — | — | — |
| Buyback Yield | 0.3% | 0.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 7.5% | 17.4% | 10.2% | 3.7% | 3.5% | 15.3% | 2.0% | 3.5% | 21.2% | 16.2% | 8.9% |
| Shares Outstanding | — | $210M | $209M | $202M | $163M | $149M | $143M | $142M | $104M | $93M | $89M |
Peer Comparison
Compare NAT with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 NATYou | $1B | 26.2 | 10.9 | 9.7 | 30.3% | 22.1% | 8.9% | 7.5% | 2.0 |
 TNK | $3B | 7.9 | 6.6 | 24.5 | 27.5% | 22.6% | 18.5% | 12.5% | 0.2 |
 INSW | $4B | 13.8 | 10.0 | 111.2 | 42.3% | 36.3% | 16.0% | 9.4% | 1.2 |
 DHT | $3B | 14.5 | 12.3 | — | 38.2% | 34.2% | 19.4% | 8.9% | 1.6 |
 STNG | $4B | 11.7 | 8.4 | 8.7 | 46.2% | 33.0% | 11.4% | 7.2% | 1.3 |
 TK | $1B | 9.6 | 1.1 | 2.9 | 32.3% | 29.9% | 7.2% | 19.1% | 0.1 |
 FRO | $8B | 16.9 | 10.5 | — | 34.4% | 38.1% | 21.5% | 10.6% | 3.3 |
 ASC | $767M | 21.4 | 7.4 | — | 34.2% | 26.1% | 6.5% | 9.0% | 1.1 |
 TPVG | $226M | 4.6 | 8.9 | — | 83.5% | 77.9% | 14.1% | 7.2% | 6.2 |
 TEN | $1B | 8.6 | 6.5 | — | 34.2% | 34.6% | 10.3% | 6.9% | 4.2 |
 XOM | $630B | 22.2 | 11.1 | 26.7 | 21.7% | 10.5% | 10.7% | 8.6% | 0.7 |
| Industrials Median | — | 25.9 | 13.9 | 20.6 | 32.8% | 4.9% | 8.2% | 6.3% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 28 years · Updated daily
See NAT's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs NAT Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare NAT vs TNK
Side-by-side business, growth, and profitability comparison vs Teekay Tankers Ltd..
Start ComparisonNAT — Frequently Asked Questions
Quick answers to the most common questions about buying NAT stock.
What is Nordic American Tankers Limited's P/E ratio?
Nordic American Tankers Limited's current P/E ratio is 26.2x. The historical average is 16.0x. This places it at the 88th percentile of its historical range.
What is Nordic American Tankers Limited's EV/EBITDA?
Nordic American Tankers Limited's current EV/EBITDA is 10.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.4x.
What is Nordic American Tankers Limited's ROE?
Nordic American Tankers Limited's return on equity (ROE) is 8.9%. The historical average is 4.3%.
Is NAT stock overvalued?
Based on historical data, Nordic American Tankers Limited is trading at a P/E of 26.2x. This is at the 88th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Nordic American Tankers Limited's dividend yield?
Nordic American Tankers Limited's current dividend yield is 7.24% with a payout ratio of 188.0%.
What are Nordic American Tankers Limited's profit margins?
Nordic American Tankers Limited has 30.3% gross margin and 22.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Nordic American Tankers Limited have?
Nordic American Tankers Limited's Debt/EBITDA ratio is 2.0x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.