NATNordic American Tankers Limited
Is it safe?
Nothing alarming, nothing pristine: heavy debt (CCC) and typical volatility.
Debt against weak or negative operating profit. A rule of thumb on leverage, not a credit rating.
Moderate price swings, typical volatility. Worst drawdown -86% · now at/near its 52-week high.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can NAT take a bad year?
The deepest fall in NAT's price history on file is −86%; it is 1.3% below its high today.
Net debt · as at Q4 2018 · debt less the cash on hand, with no positive EBITDA to service it
- Cash runway
- 0.4 years
Cash runway · burning $29M a quarter at the current rate
- Annualised volatility
- 37%
Annualised volatility · roughly twice as jumpy as the market
- Worst drawdown on file
- −86%
Worst drawdown on file · −1.3% today
Details›
- Total debtQ4 2018
- $437M
- Cash and short-term investments
- $49M
- Net debt
- $387M
- EBITDA, trailing twelve months
- −$69M
- Operating profit, trailing twelve months
- −$149M
- Debt / equity
- 0.72×
- Annualised volatilitytwo years of daily moves
- 37%
- Worst drawdown on file
- −86%
- Below its 52-week high
- 1.3%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.