Nordic American Tankers (NAT) Cost of Revenue (2009 - 2026)
Nordic American Tankers' Cost of Revenue came in at $25.39 million for Q2 2026, down 4.5% from $26.58 million a year earlier and down 12.3% from the prior quarter.
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Analysis
Nordic American Tankers (NAT) Cost of Revenue (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Nordic American Tankers reported Cost of Revenue of $110.8 million, down 0.8% year-over-year; for FY2025, it was $109.88 million, down 11.8% from FY2024.
- Cost of Revenue has declined in each of the last three years, with a five-year compound annual growth rate of -1.9% (FY2020 to FY2025).
- Going back by year, Cost of Revenue was $124.65 million in FY2024 (-3.8%), $129.51 million in FY2023 (-24.0%), $170.52 million in FY2022 (+32.9%) and $128.26 million in FY2021 (+5.9%).
- The Q2 2026 figure represents the lowest quarterly Cost of Revenue since Q3 2020.
- Year-over-year, Cost of Revenue increased in 1 of the last eight quarters, with an average decline of 7.3%.
- The fastest year-over-year change in Cost of Revenue over five years came in Q4 2022 (growth of 20.7%), and the weakest in Q3 2023 (a decline of 47.1%).
- Business Quant data shows NAT's Cost of Revenue at $28.95 million (Q1 2026), $27.15 million (Q4 2025) and $29.31 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 176.05 Bn | 168.30 Bn | - | - |
| 2 | United Parcel Service | 94.65 Bn | 71.47 Bn | - | - |
| 3 | Csx | 92.50 Bn | 87.72 Bn | - | - |
| 4 | Canadian Pacific Kansas City | 83.38 Bn | 82.42 Bn | - | - |
| 5 | Fedex | 75.65 Bn | 41.84 Bn | - | - |
| 6 | Norfolk Southern | 73.28 Bn | 67.74 Bn | - | - |
| 7 | Delta Air Lines | 59.50 Bn | 41.69 Bn | - | - |
| 8 | United Airlines Holdings | 38.72 Bn | -18.97 Bn | - | - |
| 9 | Old Dominion Freight Line | 35.42 Bn | 34.26 Bn | - | - |
| 10 | Nordic American Tankers | 1.39 Bn | 1.06 Bn | 53.91 Mn | 25.39 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 25.39 Mn |
| Mar 31, 2026 | 28.95 Mn |
| Dec 31, 2025 | 27.15 Mn |
| Sep 30, 2025 | 29.31 Mn |
| Jun 30, 2025 | 26.58 Mn |
| Mar 31, 2025 | 26.85 Mn |
| Dec 31, 2024 | 28.04 Mn |
| Sep 30, 2024 | 30.18 Mn |
| Jun 30, 2024 | 31.71 Mn |
| Mar 31, 2024 | 34.72 Mn |
| Dec 31, 2023 | 33.45 Mn |
| Sep 30, 2023 | 30.41 Mn |
| Jun 30, 2023 | 31.30 Mn |
| Mar 31, 2023 | 34.34 Mn |
| Dec 31, 2022 | 39.11 Mn |
| Sep 30, 2022 | 57.50 Mn |
| Jun 30, 2022 | 40.17 Mn |
| Mar 31, 2022 | 33.73 Mn |
| Dec 31, 2021 | 32.41 Mn |
| Jun 30, 2021 | 35.65 Mn |
API Access
Nordic American Tankers Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=NAT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "NAT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=NAT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();