NMM: financial statements from SEC

Income statement

Metric	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	1.34bn	1.33bn	1.31bn	1.21bn	713m	227m	219m
Cost of revenue	128m	146m	160m	123m	36m	11m	12m
Selling, general and administrative	92m	85m	81m	67m	41m	24m	21m
Interest expense	3m	0	0	—	—	—	—
Net income	285m	367m	434m	579m	516m	−69m	−62m

Metric	Aug 18, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash and equivalents	—	403m	270m	249m	175m	169m	31m	30m
Receivables	—	34m	33m	42m	75m	24m	17m	11m
Inventory	—	32m	33m	38m	33m	21m	6m	6m
Current assets	—	512m	443m	400m	310m	226m	61m	76m
Property, plant and equipment	—	4.39bn	4.24bn	3.73bn	3.78bn	2.85bn	1.04bn	1.06bn
Total assets	—	5.93bn	5.67bn	5.15bn	4.90bn	3.62bn	1.21bn	1.25bn
Current liabilities	—	455m	410m	460m	618m	396m	253m	80m
Short-term debt	—	134m	163m	146m	174m	173m	196m	54m
Long-term debt	—	975m	917m	752m	1.56bn	1.36bn	487m	489m
Total liabilities	—	2.59bn	2.57bn	2.38bn	2.55bn	1.85bn	552m	525m
Shares outstanding	—	29m	30m	30m	30m	30m	11m	—

Metric	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating cash flow	505m	483m	560m	506m	277m	94m	70m
Depreciation and amortisation	349m	292m	261m	202m	113m	56m	53m
Share-based compensation	0	0	4,000	154,000	523,000	946,000	2m
Capital expenditure	—	—	183m	434m	217m	72m	21m
Investing cash flow	−348m	−782m	−253m	−316m	−106m	−84m	−17m
Dividends paid	6m	6m	6m	6m	5m	8m	14m
Financing cash flow	−54m	349m	−233m	−184m	−32m	−10m	−84m