Nordic American Tankers Ltd cash flow statement

In fiscal 2025, Nordic American Tankers Ltd's operations generated $19.8m of cash; it spent $134m on capital projects, leaving free cash flow of −$115m. It returned $76.2m in dividends.

Cash flow statement

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

Nordic American Tankers Ltd: cash flow statement, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	128	32	−16	53	111	−44	24	139	128	20
Depreciation and amortisation	91	101	61	64	68	68	50	51	56	58
Stock-based pay	0	1	0	0	0	0	0	2	2	0
Capital spending	138	38	5	3	7	4	5	74	1	134
Free cash flow	−10	−6	−21	50	104	−48	19	66	127	−115
Free cash flow after stock pay	−11	−6	−21	50	104	−49	19	64	125	−115
Dividends paid	126	59	10	14	67	10	23	90	75	76
Share buybacks	—	—	—	—	—	—	0	0	4	0
Shares issued	120	104	0	18	21	80	49	0	9	0

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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.