Nordic American Tankers Limited (NAT) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	372.1M	292.4M	349.7M	391.7M	339.3M
Cost of Revenue	230.8M	234.6M	243.6M	240.9M	284.4M
Gross Profit	141.2M	57.9M	106.1M	150.8M	55.0M
Operating Expenses
R&D Expense	—	—	—	—	—
SG&A Expense	34.5M	28.9M	28.8M	22.9M	18.8M
General & Admin Expense	—	—	—	—	—
Selling & Marketing Expense	—	—	—	—	—
Other Expenses	—	—	—	—	—
Total Operating Expenses	34.5M	28.9M	28.8M	22.9M	18.8M
Cost and Expenses	265.3M	263.4M	272.4M	263.8M	303.2M
Operating Income (EBIT)	106.7M	29.0M	77.3M	127.9M	36.2M
Non-Operating
Interest Income	1.3M	1.6M	731.0K	1.3M	—
Interest Expense	35.7M	35.8M	30.7M	30.5M	27.1M
Net Interest Income	(34.4M)	(34.1M)	(30.0M)	(29.2M)	(27.1M)
Other Non-Op Income/Expense	16.8M	(16.7M)	(30.7M)	(29.1M)	(21.1M)
Non-Operating Income (excl Interest)	(17.3M)	(19.0M)	(61.0K)	(1.4M)	(6.0M)
EBT (Pre-Tax Income)	123.5M	12.3M	46.6M	98.8M	15.1M
Income Tax Expense	—	—	(10.0K)	120.0K	23.0K
Bottom Line
Net Income	123.5M	12.3M	46.6M	98.7M	15.1M
Earnings from Cont. Ops	123.5M	12.3M	46.6M	98.7M	15.1M
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	123.5M	12.3M	46.6M	98.7M	15.1M
Per Share
Basic EPS	$0.58	$0.06	$0.22	$0.47	$0.07
Diluted EPS	$0.58	$0.06	$0.22	$0.47	$0.07
Revenue Per Share	$1.76	$1.38	$1.67	$1.88	$1.68
Shares
Basic Shares Outstanding	211.8M	211.8M	209.2M	208.8M	202.0M
Diluted Shares Outstanding	211.8M	211.8M	209.9M	208.8M	202.0M
Profitability Metrics
EBITDA	180.4M	105.8M	133.5M	180.7M	92.6M
D&A	56.4M	57.7M	56.2M	51.4M	50.4M
EBIT	124.1M	48.0M	77.4M	129.3M	42.2M

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026