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Nordic American Tankers

NYSE:NAT
Snowflake Description

Fair value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NAT
NYSE
$295M
Market Cap
  1. Home
  2. US
  3. Energy
Company description

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. The last earnings update was 10 days ago. More info.


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NAT Share Price and Events
7 Day Returns
1.5%
NYSE:NAT
1.8%
US Oil and Gas
0.9%
US Market
1 Year Returns
9.5%
NYSE:NAT
-4.9%
US Oil and Gas
9.6%
US Market
NAT Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Nordic American Tankers (NAT) 1.5% 2.5% -0.5% 9.5% -86.5% -75.7%
US Oil and Gas 1.8% 4.7% 10.9% -4.9% 3.6% -26.4%
US Market 0.9% 4.6% 10.9% 9.6% 39% 47.2%
1 Year Return vs Industry and Market
  • NAT outperformed the Oil and Gas industry which returned -4.9% over the past year.
Price Volatility
NAT
Industry
5yr Volatility vs Market

NAT Value

 Is Nordic American Tankers undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Nordic American Tankers to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Nordic American Tankers.

NYSE:NAT Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 12.8%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:NAT
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.94
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.937 (1 + (1- 21%) (147.85%))
1.691
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.69
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.691 * 5.96%)
12.81%

Discounted Cash Flow Calculation for NYSE:NAT using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Nordic American Tankers is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:NAT DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 12.81%)
2019 -4.10 Analyst x1 -3.63
2020 68.96 Analyst x1 54.19
2021 109.18 Est @ 58.33% 76.05
2022 154.66 Est @ 41.65% 95.50
2023 201.01 Est @ 29.98% 110.03
2024 244.84 Est @ 21.8% 118.80
2025 284.21 Est @ 16.08% 122.24
2026 318.53 Est @ 12.08% 121.45
2027 348.06 Est @ 9.27% 117.64
2028 373.50 Est @ 7.31% 111.90
Present value of next 10 years cash flows $924.16
NYSE:NAT DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $373.50 × (1 + 2.73%) ÷ (12.81% – 2.73%)
$3,806.84
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $3,806.84 ÷ (1 + 12.81%)10
$1,140.56
NYSE:NAT Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $924.16 + $1,140.56
$2,064.73
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,064.73 / 141.95
$14.55
NYSE:NAT Discount to Share Price
Calculation Result
Value per share (USD) From above. $14.55
Current discount Discount to share price of $2.08
= -1 x ($2.08 - $14.55) / $14.55
85.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Nordic American Tankers is available for.
Intrinsic value
>50%
Share price is $2.08 vs Future cash flow value of $14.55
Current Discount Checks
For Nordic American Tankers to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Nordic American Tankers's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Nordic American Tankers's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Nordic American Tankers's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Nordic American Tankers's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:NAT PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $-0.67
NYSE:NAT Share Price ** NYSE (2019-04-25) in USD $2.08
United States of America Oil and Gas Industry PE Ratio Median Figure of 107 Publicly-Listed Oil and Gas Companies 13.3x
United States of America Market PE Ratio Median Figure of 3,081 Publicly-Listed Companies 18.28x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Nordic American Tankers.

NYSE:NAT PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:NAT Share Price ÷ EPS (both in USD)

= 2.08 ÷ -0.67

-3.1x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Nordic American Tankers is loss making, we can't compare its value to the US Oil and Gas industry average.
  • Nordic American Tankers is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Nordic American Tankers's expected growth come at a high price?
Raw Data
NYSE:NAT PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -3.1x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
77.8%per year
United States of America Oil and Gas Industry PEG Ratio Median Figure of 76 Publicly-Listed Oil and Gas Companies 0.6x
United States of America Market PEG Ratio Median Figure of 2,113 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Nordic American Tankers, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Nordic American Tankers's assets?
Raw Data
NYSE:NAT PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $4.24
NYSE:NAT Share Price * NYSE (2019-04-25) in USD $2.08
United States of America Oil and Gas Industry PB Ratio Median Figure of 191 Publicly-Listed Oil and Gas Companies 1.18x
United States of America Market PB Ratio Median Figure of 5,185 Publicly-Listed Companies 1.92x
NYSE:NAT PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:NAT Share Price ÷ Book Value per Share (both in USD)

= 2.08 ÷ 4.24

0.49x

* Primary Listing of Nordic American Tankers.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Nordic American Tankers is good value based on assets compared to the US Oil and Gas industry average.
X
Value checks
We assess Nordic American Tankers's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Nordic American Tankers has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

NAT Future Performance

 How is Nordic American Tankers expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
77.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Nordic American Tankers expected to grow at an attractive rate?
  • Nordic American Tankers's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Nordic American Tankers's earnings growth is expected to exceed the United States of America market average.
  • Nordic American Tankers's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:NAT Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:NAT Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 77.8%
NYSE:NAT Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts -9.9%
United States of America Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 10.5%
United States of America Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 5.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.5%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:NAT Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:NAT Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 230 120 57 1
2021-12-31 208 117 53 2
2020-12-31 206 91 20 5
2019-12-31 167 55 5
NYSE:NAT Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 289 -16 -95
2018-09-30 275 -31 -236
2018-06-30 259 -20 -232
2018-03-31 272 -7 -220
2017-12-31 297 32 -205
2017-09-30 310 41 -93
2017-06-30 313 62 -66
2017-03-31 336 101 -37
2016-12-31 357 128 -4
2016-09-30 508 159 65
2016-06-30 412 185 98
2016-03-31 453 188 116

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Nordic American Tankers's earnings are expected to grow significantly at over 20% yearly.
  • Nordic American Tankers's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:NAT Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Nordic American Tankers Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:NAT Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 0.40 0.40 0.40 1.00
2021-12-31 0.38 0.38 0.38 1.00
2020-12-31 0.14 0.36 -0.08 2.00
2019-12-31 -0.05 -0.05 -0.05 1.00
NYSE:NAT Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 -0.67
2018-09-30 -1.76
2018-06-30 -1.88
2018-03-31 -1.93
2017-12-31 -1.97
2017-09-30 -0.91
2017-06-30 -0.67
2017-03-31 -0.39
2016-12-31 -0.05
2016-09-30 0.73
2016-06-30 1.10
2016-03-31 1.30

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Nordic American Tankers is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Nordic American Tankers's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Nordic American Tankers has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

NAT Past Performance

  How has Nordic American Tankers performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Nordic American Tankers's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Nordic American Tankers does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Nordic American Tankers's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Nordic American Tankers's 1-year growth to the US Oil and Gas industry average as it is not currently profitable.
Earnings and Revenue History
Nordic American Tankers's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Nordic American Tankers Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:NAT Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 289.02 -95.31 12.73
2018-09-30 275.44 -236.21 14.69
2018-06-30 259.47 -232.50 13.48
2018-03-31 271.56 -220.26 13.02
2017-12-31 297.14 -204.97 12.58
2017-09-30 309.66 -92.76 10.48
2017-06-30 313.36 -66.06 10.66
2017-03-31 335.91 -37.19 12.15
2016-12-31 357.45 -4.46 12.30
2016-09-30 508.40 64.85 13.88
2016-06-30 411.76 98.26 12.10
2016-03-31 452.91 116.19 11.09
2015-12-31 445.74 114.63 9.79
2015-09-30 452.20 83.73 10.80
2015-06-30 512.71 58.02 12.64
2015-03-31 375.59 13.52 13.02
2014-12-31 351.05 -13.17 14.86
2014-09-30 302.40 -33.35 14.09
2014-06-30 284.00 -53.87 14.75
2014-03-31 271.41 -69.04 11.49
2013-12-31 243.66 -105.42 14.96
2013-09-30 222.90 -115.86 13.36
2013-06-30 177.05 -119.97 13.07
2013-03-31 117.47 -96.19 12.40
2012-12-31 130.68 -73.19 14.70
2012-09-30 110.64 -58.31 17.34
2012-06-30 111.36 -72.64 16.57

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Nordic American Tankers has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Nordic American Tankers has efficiently used its assets last year compared to the US Oil and Gas industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Nordic American Tankers improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Nordic American Tankers's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Nordic American Tankers has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

NAT Health

 How is Nordic American Tankers's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Nordic American Tankers's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Nordic American Tankers is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Nordic American Tankers's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Nordic American Tankers's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Nordic American Tankers Company Filings, last reported 3 months ago.

NYSE:NAT Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 602.03 436.53 49.33
2018-09-30 614.02 419.03 45.53
2018-06-30 654.71 373.78 46.48
2018-03-31 684.12 384.95 36.74
2017-12-31 711.06 388.86 58.36
2017-09-30 761.87 443.87 31.15
2017-06-30 811.22 443.52 34.00
2017-03-31 847.32 443.17 45.64
2016-12-31 871.05 442.82 82.17
2016-09-30 936.73 442.47 151.55
2016-06-30 846.53 380.21 29.52
2016-03-31 871.85 330.00 45.20
2015-12-31 880.72 324.57 29.89
2015-09-30 884.32 250.00 47.38
2015-06-30 894.38 250.00 105.51
2015-03-31 878.86 250.00 82.30
2014-12-31 888.91 250.00 100.74
2014-09-30 903.48 250.00 89.26
2014-06-30 926.74 250.00 154.28
2014-03-31 850.19 250.00 80.08
2013-12-31 854.98 250.00 65.68
2013-09-30 817.87 250.00 90.47
2013-06-30 847.39 210.00 71.13
2013-03-31 787.71 250.00 23.64
2012-12-31 809.38 250.00 56.06
2012-09-30 857.52 250.00 85.59
2012-06-30 896.44 250.00 104.71
  • Nordic American Tankers's level of debt (72.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (29.2% vs 72.5% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Nordic American Tankers has sufficient cash runway for 2.4 years based on current free cash flow.
  • Nordic American Tankers has sufficient cash runway for 2.5 years if free cash flow continues to reduce at historical rates of -7.7% each year.
X
Financial health checks
We assess Nordic American Tankers's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Nordic American Tankers has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

NAT Dividends

 What is Nordic American Tankers's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.85%
Current annual income from Nordic American Tankers dividends. Estimated to be 10.58% next year.
If you bought $2,000 of Nordic American Tankers shares you are expected to receive $77 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Nordic American Tankers's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.39%).
  • Nordic American Tankers's dividend is above the markets top 25% of dividend payers in United States of America (3.61%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:NAT Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
United States of America Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 65 Stocks 3.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:NAT Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 0.16 1.00
2020-12-31 0.26 3.00
2019-12-31 0.16 1.00
NYSE:NAT Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-19 0.080 3.829
2018-04-27 0.040 1.732
2018-01-26 0.120 5.667
2017-10-19 0.120 3.662
2017-07-21 0.400 7.533
2017-05-01 1.090 16.952
2017-02-06 1.090 13.339
2016-03-23 1.590 14.502
2016-02-08 1.590 11.954
2015-03-27 0.710 5.033
2015-02-09 0.710 6.807
2014-01-27 0.480 5.270
2013-10-16 0.640 7.186
2013-07-09 0.640 7.544
2013-04-16 0.640 7.602
2013-01-17 0.640 6.873
2012-11-15 1.200 13.580
2012-08-07 1.200 11.844
2012-05-07 1.200 9.326
2012-02-13 1.200 8.356
2011-11-07 1.200 9.082
2011-08-08 1.200 7.690
2011-05-09 1.200 5.426
2011-02-14 1.000 4.135
2010-11-08 1.000 3.878
2010-08-06 2.400 8.835
2010-05-10 2.400 8.359
2010-02-12 1.000 3.299
2009-11-09 0.400 1.293
2009-08-07 2.000 6.770
2009-05-05 3.520 10.899

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Nordic American Tankers's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.4x coverage).
X
Income/ dividend checks
We assess Nordic American Tankers's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Nordic American Tankers afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Nordic American Tankers has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

NAT Management

 What is the CEO of Nordic American Tankers's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Herbjørn Hansson
AGE 70
TENURE AS CEO 24.3 years
CEO Bio

Mr. Herbjørn Hansson is the Founder of Nordic American Tankers Limited (formerly Nordic American Tanker Shipping Ltd.) and has been its Chief Executive Officer since 1995. Mr. Hansson was Executive Chairman and Director of Nordic American Offshore Ltd. since October 17, 2013 until December 11, 2018. Mr. Hansson served as the President at Nordic American Offshore Ltd. Mr. Hansson served President at Nordic American Tankers Limited since July 1995. Mr. Hansson served as President and Chief Executive Officer of Scandic American Shipping Ltd., the Manager of Nordic American Tanker Ltd. since September 1993. He served as Chief Executive Officer of Nordic American Offshore Ltd. He served as President and Chief Executive Officer of Ugland Nordic Shipping ASA (the former manager of Nordic American Tanker Shipping Ltd. from September 1993 to 2001. He served as Interim Chief Executive Officer of Nordic American Offshore Ltd., since October 17, 2013. He served as an Officer of the Anders Jahre/Kosmos Group from 1980 to 1989 and served as Chief Financial Officer from 1983 to 1988. He has been involved in various aspects of the shipping industry and international finance since 1970 and served as Chief Economist of Intertanko, the International Association of Independent Tanker Owners, from 1975 to 1980. He serves as Chairman of Burma Shipping & Investment AS. Mr. Hansson has been Chairman of Nordic American Tankers limited since 1995. He served as Deputy Chairman of Nordic American Tanker Shipping Ltd. He served as Chairman of the Board of Ugland Nordic Shipping ASA from June 1989 to September 1993. He serves as a Director of Gard P. & I. (Bermuda) Ltd. He has been a Director of Nordic American Tankers Limited since July 1995. He served as a Member of Supervisory Board of Vital Forsikring ASA and DNB Bank ASA. He served as Member of Supervisory Board of DnB NOR ASA (alternate name Dnb Holding ASA). He served as a Director of Ugland Nordic Shipping ASA since June 1989. He served as a Representative Director of Vital Forsikring ASA. He served as a Representative Director and Member of the Supervisory Board at DNB Livsforsikring ASA. He served as a Member of Supervisory Board at DNB ASA. He served as a Member of the Council at Stiftelsen Det Norske Veritas. Mr. Hansson holds M.B.A. from Norwegian School of Economic and Business Administration and education from Harvard Business School, Harvard University.

CEO Compensation
  • Insufficient data for Herbjørn to compare compensation growth.
  • Insufficient data for Herbjørn to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Nordic American Tankers management team in years:

8.3
Average Tenure
58
Average Age
  • The average tenure for the Nordic American Tankers management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Herbjørn Hansson

TITLE
Founder
AGE
70
TENURE
24.3 yrs

Bjørn Giaever

TITLE
CFO & Secretary
AGE
51
TENURE
1.5 yrs

Jan Møller

TITLE
Head of Investor Relations and Financial Manager
AGE
33

Jan Langangen

TITLE
Advisor & Director
AGE
68

Erik Tomstad

TITLE
Executive Vice President of Chartering

John Bernander

TITLE
Advisor to Chairman
AGE
60
TENURE
6.8 yrs

Marianne Lie

TITLE
Advisor to Chairman
AGE
56
TENURE
9.8 yrs
Board of Directors Tenure

Average tenure and age of the Nordic American Tankers board of directors in years:

11.8
Average Tenure
68
Average Age
  • The average tenure for the Nordic American Tankers board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Herbjørn Hansson

TITLE
Founder
AGE
70
TENURE
24.3 yrs

Andreas Ugland

TITLE
Vice Chairman
AGE
63
TENURE
22.3 yrs

Jan Langangen

TITLE
Advisor & Director
AGE
68
TENURE
8.8 yrs

Richard H. Vietor

TITLE
Director
AGE
72
TENURE
11.8 yrs

Jim Kelly

TITLE
Director
AGE
65
TENURE
8.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Nordic American Tankers's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Nordic American Tankers has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

NAT News

Simply Wall St News

Is Nordic American Tankers Limited's (NYSE:NAT) Balance Sheet Strong Enough To Weather A Storm?

While small-cap stocks, such as Nordic American Tankers Limited (NYSE:NAT) with its market cap of US$335.05m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

Should You Be Concerned About Nordic American Tankers Limited's (NYSE:NAT) Investors?

In this analysis, my focus will be on developing a perspective on Nordic American Tankers Limited’s (NYSE:NAT) latest ownership structure, a less discussed, but important factor. … The effect of an active institutional investor with a similar ownership as a passive pension-fund can be vastly different on a company's corporate governance and accountability to shareholders. … View our latest analysis for Nordic American Tankers

Simply Wall St -

Is Nordic American Tankers Limited's (NYSE:NAT) Balance Sheet A Threat To Its Future?

Investors are always looking for growth in small-cap stocks like Nordic American Tankers Limited (NYSE:NAT), with a market cap of US$369.12m. … However, an important fact which most ignore is: how financially healthy is the business?

Simply Wall St -

Should You Buy Nordic American Tankers Limited (NYSE:NAT)?

Two major red flags for NAT are its high level of debt at 0.55x equity, and its low level of cash generated from its core operating activities, covering a mere 8.16% of debt. … Or the very least, reduce debt to a more prudent level if cash generated from operating activities is insufficient to cushion for potential future headwinds. … NAT has managed its cash well at a current level of US$58.36M.

Simply Wall St -

Is It The Right Time To Buy Nordic American Tankers Limited (NYSE:NAT)?

Nordic American Tankers Limited (NYSE:NAT), an energy company based in Bermuda, saw a decent share price growth in the teens level on the NYSE over the last few months. … Great news for investors – Nordic American Tankers is still trading at a fairly cheap price. … Nordic American Tankers’s share price also seems relatively stable compared to the rest of the market, as indicated by its low beta.

Simply Wall St -

Are Nordic American Tankers Limited's (NYSE:NAT) Interest Costs Too High?

Moreover, NAT has produced US$127.79M in operating cash flow in the last twelve months, leading to an operating cash to total debt ratio of 28.86%, signalling that NAT’s operating cash is sufficient to cover its debt. … Looking at NAT’s most recent US$21.53M liabilities, it appears that the company has been able to meet these obligations given the level of current assets of US$163.71M, with a current ratio of 7.61x. … NYSE:NAT Historical Debt Feb 12th 18 Is NAT’s debt level acceptable?

Simply Wall St -

Does Nordic American Tankers Limited's (NAT) Debt Level Pose A Serious Problem?

NAT's debt-to-equity ratio stands at 54.67%, which means, while the company’s debt could pose a problem for its earnings stability, it is not at an alarmingly high level yet. … Its cash flow coverage of less than a quarter of debt means that operating efficiency could be an issue. … Although short-term liquidity isn't a concern, NAT's large debt ratio on top of poor cash coverage may not be what you're after in an investment.

Simply Wall St -

NAT Company Info

Description

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 23 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.

Details
Name: Nordic American Tankers Limited
NAT
Exchange: NYSE
Founded: 1995
$295,251,145
141,947,666
Website: http://www.nat.bm
Address: Nordic American Tankers Limited
LOM Building,
27 Reid Street,
Hamilton,
HM 11,
Bermuda
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE NAT Common Shares New York Stock Exchange US USD 30. Sep 1997
DB B3O Common Shares Deutsche Boerse AG DE EUR 30. Sep 1997
LSE 0UC0 Common Shares London Stock Exchange GB USD 30. Sep 1997
Number of employees
Current staff
Staff numbers
20
Nordic American Tankers employees.
Industry
Oil and Gas Storage and Transportation
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/26 01:50
End of day share price update: 2019/04/25 00:00
Last estimates confirmation: 2019/04/24
Last earnings filing: 2019/04/16
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.