NAT
IndustrialsNordic American Tankers Limited · Marine Shipping · $1B
What is Nordic American Tankers Limited?
Nordic American Tankers Limited is a Bermuda-based tanker company focused on crude oil transportation. Operating a fleet of Suezmax tankers, it charters vessels to energy companies across international shipping routes.
Nordic American Tankers earns revenue by chartering its double-hull Suezmax crude oil tankers to customers on the global seaborne energy market. The company does not refine or trade oil — it provides the vessels that move crude from production regions to refineries worldwide. Charter rates, which fluctuate with supply and demand in the tanker market, are the primary driver of the company's financial performance.
Incorporated in 1995 and headquartered in Hamilton, Bermuda, the company has operated under its current name since 2011.
- Suezmax crude oil tanker fleet operations
- International voyage and time charters
- Double-hull vessel compliance for modern trade routes
- Fleet acquisition and asset management
Is NAT a Good Stock to Buy?
UQS Score rates NAT as Poor overall, reflecting broad weakness across most of the five scoring pillars.
The one area where NAT stands out relative to its profile is Valuation, which is rated Good — suggesting the market may already be pricing in the company's structural challenges, leaving the stock at a relatively undemanding entry point compared to peers.
Quality, Moat, Growth, and Risk are all rated Weak, indicating thin competitive differentiation, limited earnings durability, and meaningful exposure to cyclical shipping market swings.
Pro members can view the complete pillar breakdown and underlying financial metrics to assess whether NAT's valuation rating offsets its broader weaknesses. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does NAT pay dividends?
Yes — Nordic American Tankers Limited pays a dividend.
Nordic American Tankers pays a regular dividend, which has historically been a central part of its investor proposition. Dividend levels in tanker companies tend to track charter rate cycles closely, so payouts can vary meaningfully over time. Income-focused investors should review the company's current distribution policy directly, as tanker-sector dividends are rarely guaranteed at a fixed level.
When does NAT report earnings?
Nordic American Tankers reports earnings on a quarterly cadence, consistent with standard practice for US-listed equities.
Results tend to reflect prevailing Suezmax charter rates, which can shift sharply with global crude trade flows, geopolitical events, and fleet supply dynamics. Revenue visibility is limited quarter to quarter given the spot-market nature of much of the fleet's employment.
For the most recent quarter's results and guidance, visit Nordic American Tankers' investor relations page directly.
NAT Price History
+159.4% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Nordic American Tankers Limited?
Based on Nordic American Tankers Limited's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
NAT Long-term Outlook
With Growth and Risk both rated Weak, NAT's near-term fundamental outlook is constrained. The company operates in a highly cyclical market where earnings are largely determined by external charter rate movements rather than internal competitive advantages. A Weak Moat rating suggests limited pricing power, making sustained earnings improvement dependent on favorable macro conditions in the tanker market rather than company-specific execution.
Growth drivers
- Potential uplift from tightening global crude tanker supply
- Geopolitical disruptions that lengthen shipping routes and boost demand
- Fleet utilization improvements during high-demand periods
Key risks
- Cyclical charter rate declines compressing revenue sharply
- Weak moat leaves NAT exposed to fleet oversupply across the sector
- Elevated operational and financial risk in a capital-intensive business
NAT vs Peers
NAT operates in a competitive maritime transport landscape alongside companies with differing fleet strategies and business models.
CCEC focuses on clean energy carrier vessels, positioning itself in a different cargo segment than NAT's crude oil tanker specialization.
GSL operates containerships under long-term charters, offering a different risk profile and cargo type compared to NAT's spot-exposed crude tanker fleet.
SFL runs a diversified fleet across multiple vessel types under long-term leases, providing more revenue predictability than NAT's Suezmax-focused model.
Frequently Asked Questions
What does Nordic American Tankers do?
Nordic American Tankers charters double-hull Suezmax crude oil tankers to customers across international shipping markets. The company earns revenue based on charter rates rather than trading or refining oil. Its fleet of 24 tankers moves crude between production regions and refineries worldwide.
Does NAT pay dividends?
Yes, Nordic American Tankers pays a regular dividend. However, tanker-sector dividends are closely tied to charter rate cycles and can fluctuate significantly. Investors should review the company's current distribution announcements rather than assuming a fixed payout level.
When does NAT report earnings?
Nordic American Tankers follows a standard quarterly earnings cadence for US-listed companies. For the exact timing of upcoming results, check the company's investor relations page, as specific dates are subject to change.
Is NAT a good stock to buy?
UQS Score rates NAT as Poor overall. While Valuation is rated Good, the Quality, Moat, Growth, and Risk pillars are all rated Weak. Whether the valuation discount compensates for those weaknesses depends on an investor's risk tolerance and view on tanker market cycles. The full pillar breakdown is available to Pro members.
Is NAT overvalued?
Based on UQS Score's Valuation pillar, NAT is rated Good — meaning it does not appear expensive relative to its profile. In a sector prone to cyclical earnings swings, a modest valuation can reflect market skepticism about earnings durability rather than a straightforward bargain.
How does NAT compare to its competitors?
Compared to peers like SFL and GSL, NAT is more narrowly focused on Suezmax crude tankers with significant spot-market exposure. Competitors with diversified fleets or long-term charter structures may offer more revenue predictability, though NAT's pure-play crude tanker model can outperform during strong rate environments.
What is NAT's market cap bracket?
Nordic American Tankers is classified as a small-cap company. This places it in a segment of the market that can experience higher volatility and lower liquidity compared to large- or mega-cap peers in the broader industrials and shipping sector.
Who founded Nordic American Tankers?
Nordic American Tankers was incorporated in 1995 and has been led for much of its history by Herbjorn Hansson, who has been a central figure in the company's development. Full founding details are publicly available through the company's official disclosures.
Is NAT a long-term quality investment?
As a long-term quality indicator, UQS Score rates NAT as Poor. Weak scores across Quality, Moat, and Growth suggest limited structural durability. Long-term investors typically seek companies with stronger competitive advantages and more consistent earnings — areas where NAT currently scores below average.
What is the main competitive advantage of Nordic American Tankers?
NAT's Moat is rated Weak by UQS Score, indicating limited durable competitive advantages. The company's fleet size and Suezmax specialization provide some operational focus, but tanker shipping is largely a commodity market where pricing power is constrained by industry-wide supply and demand dynamics.
What sector does NAT belong to?
Nordic American Tankers is classified within the Industrials sector, specifically in the marine transportation sub-industry. Its business is directly tied to global crude oil trade flows, making it sensitive to energy market conditions as well as broader shipping supply and demand cycles.
Is NAT a growth stock or value stock?
Based on UQS Score's pillar ratings, NAT does not fit neatly into either category. Growth is rated Weak, making a growth-stock classification difficult to support. Valuation is rated Good, which has some value-oriented appeal — though that discount may reflect genuine structural challenges rather than an overlooked opportunity.
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Pro Analysis
NAT — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 21, 2026 | 28.2 | 19.5 | 10.0 | 22.3 | 38.8 | 70.1 | -0.1 |
| May 19, 2026 | 28.3 | 19.5 | 10.0 | 22.3 | 38.8 | 70.6 | +0.2 |
| May 14, 2026 | 28.1 | 19.5 | 10.0 | 22.2 | 38.8 | 69.7 | +0.2 |
| May 12, 2026 | 27.9 | 19.5 | 10.0 | 22.2 | 38.8 | 68.0 | +1.3 |
| May 10, 2026 | 26.6 | 13.2 | 10.0 | 22.2 | 36.9 | 71.9 | +0.3 |
| May 8, 2026 | 26.3 | 13.2 | 10.0 | 22.2 | 36.9 | 70.3 | -1.8 |
| May 7, 2026 | 28.1 | 19.5 | 10.0 | 22.2 | 38.8 | 69.3 | 0.0 |
| May 3, 2026 | 28.1 | 19.5 | 10.0 | 22.2 | 38.8 | 69.4 | -0.1 |
| Apr 27, 2026 | 28.2 | 19.5 | 10.0 | 22.2 | 38.8 | 70.1 | 0.0 |
| Apr 26, 2026 | 28.2 | 19.5 | 10.0 | 22.4 | 38.8 | 70.3 | +0.2 |
NAT — Pillar Breakdown
Quality
— 19.5/100 (25%)Nordic American Tankers Limited currently shows below-average quality metrics, suggesting challenges with profitability.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 22.3/100 (20%)Nordic American Tankers Limited faces growth headwinds with declining or stagnant revenue trends.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 38.8/100 (15%)Nordic American Tankers Limited has some risk factors including moderate leverage or solvency concerns.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 71.3/100 (15%)Nordic American Tankers Limited trades at a reasonable valuation with decent earnings yield and FCF multiples.
Inverse of forward P/E — higher yield means cheaper stock.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 10/100 (25%)Nordic American Tankers Limited operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for NAT.
Score Composition
Financial Data
More Stock Analysis
How is the NAT UQS Score Calculated?
The UQS (Unified Quality Score) for Nordic American Tankers Limited is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Nordic American Tankers Limited's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Nordic American Tankers Limited is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.