Nordic American Tankers Ltd balance sheet

At the end of fiscal 2025, Nordic American Tankers Ltd had total assets of $902m and shareholders' equity of $446m. It held $45.9m in cash against $424m of debt: net debt of $378m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Nordic American Tankers Ltd: balance sheet, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash and equivalents	82	58	49	49	58	35	60	31	39	46
Receivables	—	—	—	—	—	9	20	26	16	19
Inventory	21	23	—	—	—	—	—	—	—	—
Total current assets	164	127	113	129	100	107	143	109	99	151
Goodwill	19	0	—	—	—	—	—	—	—	—
Total assets	1,350	1,141	1,071	1,031	974	851	880	879	818	902
Accounts payable	4	3	4	8	4	7	7	3	4	3
Deferred revenue (current)	—	—	—	2	0	3	6	4	6	4
Total current liabilities	22	25	36	59	40	68	72	70	60	67
Short-term debt	—	0	19	24	22	38	40	32	22	35
Long-term debt	443	389	418	375	335	283	266	270	248	389
Total debt	443	389	437	399	357	321	306	302	270	424
Shareholders' equity	871	711	602	595	599	498	540	538	509	446
Net debt (negative = net cash)	361	330	387	350	299	286	246	271	231	378
Shares outstanding	102m	—	142m	147m	151m	184m	209m	209m	212m	212m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

Compare with peers

Head to head: ASC vs NAT FLNG vs NAT KNOP vs NAT

More: Marine Transportation stocks compared, Industrials sector, rankings of US companies

Figures from Nordic American Tankers Ltd's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Nordic American Tankers Ltd.