FLEX LNG Ltd. (FLNG) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.61	$0.79	+29.5%	—	$106.8M	—
Q1 26	$0.36	$0.31	-13.9%	—	$80.5M	—
Q3 25	$0.46	$0.43	-6.5%	—	$85.7M	—
Q2 25	$0.46	$0.46	0.0%	—	$86M	—
Q1 25	$0.5	$0.54	+8.0%	—	$88.4M	—
Q4 24	$0.51	$0.57	+11.8%	—	$90.9M	—
Q3 24	$0.54	$0.53	-1.9%	—	$90.5M	—
Q2 24	$0.53	$0.56	+5.7%	—	$84.7M	—
Q4 23	$0.67	$0.7	+4.5%	—	$97.2M	—
Q3 23	$0.58	$0.67	+15.5%	—	$94.6M	—
Q2 23	$0.64	$0.53	-17.2%	—	$86.7M	—
Q1 23	$0.74	$0.66	-10.8%	—	$92.5M	—
Q4 22	$0.64	$1.02	+59.4%	—	$97.9M	—
Q3 22	$0.75	$0.79	+5.3%	—	$91.3M	—
Q2 22	$0.7	$0.61	-12.9%	—	$84.2M	—
Q1 22	$0.59	$0.45	-23.7%	—	$74.6M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.38	—	—	$347.6M	—
FY24	—	$2.19	—	—	$356.3M	—
FY23	—	$2.24	—	—	$371M	—
FY22	—	$3.53	—	—	$347.9M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$0	$27.3M	$77.2M	$120M	$164.5M	$343.4M	$347.9M	$371M	$356.3M	$347.6M
YoY change	0%	+InfinityT%	+182.5%	+55.4%	+37.1%	+108.8%	+1.3%	+6.64%	-3.95%	-2.44%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	0	27.3M	77.2M	120M	164.5M	343.4M	347.9M	371M	356.3M	347.6M
Cost of revenue	745K	36.5M	43.6M	57.5M	82.5M	134.4M	138.2M	143.4M	148.8M	163.9M
Gross profit	-745K	-9.2M	33.6M	62.5M	81.9M	209M	209.8M	227.6M	207.6M	183.8M
Gross margin	—	-33.7%	43.6%	52.1%	49.8%	60.9%	60.3%	61.4%	58.3%	52.9%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	741K	3.4M	4.6M	7.5M	6.3M	7.9M	9.1M	10.5M	9.8M	8M
Operating expenses	741K	3.4M	4.6M	7.5M	6.3M	7.9M	9.1M	10.5M	9.8M	8M
Operating income	-1.5M	-12.6M	29M	55M	75.6M	201.2M	200.6M	217.2M	197.8M	175.8M
Operating margin	—	-46.2%	37.6%	45.9%	46%	58.6%	57.7%	58.5%	55.5%	50.6%
Non-operating income, net	1K	2.3M	-22K	-4.9M	-25.2M	17.2M	63.6M	8M	22.2M	-11.5M
Pretax income	-1.8M	-10.4M	11.8M	17.1M	8.2M	162.3M	188.1M	120.1M	117.8M	74.9M
Income tax	-1K	17K	-10K	182K	84K	99K	98K	78K	132K	82K
Net income	-1.8M	-10.4M	11.8M	17M	8.1M	162.2M	188M	120M	117.7M	74.8M
Net margin	—	-38.1%	15.3%	14.1%	4.93%	47.2%	54%	32.4%	33%	21.5%
EBITDA	-1.5M	-10.2M	47M	84.7M	117M	271.2M	273.4M	294.2M	276.7M	255.7M
EPS	-0.1	-0.34	0.29	0.31	0.15	3.04	3.53	2.24	2.19	1.38
Diluted EPS	-0.1	-0.34	0.29	0.31	0.15	3.04	3.51	2.22	2.18	1.38

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	94.6M	97.2M	90.2M	84.7M	90.5M	90.9M	88.4M	86M	85.7M	87.5M	80.5M	106.8M
Cost of revenue	36.1M	37.4M	35.8M	37.5M	37.1M	38.4M	38.7M	40.1M	41.8M	43.2M	43.7M	45.4M
Gross profit	58.5M	59.8M	54.5M	47.2M	53.4M	52.5M	49.8M	45.9M	43.8M	44.3M	36.8M	61.4M
Gross margin	61.8%	61.5%	60.4%	55.8%	59%	57.8%	56.3%	53.3%	51.2%	50.6%	45.7%	57.5%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	2.3M	2.1M	2.5M	2.7M	1.9M	2.7M	2.5M	1.9M	1.8M	1.7M	2.6M	1.9M
Operating expenses	2.3M	2.1M	2.5M	2.7M	1.9M	2.7M	2.5M	1.9M	1.8M	1.7M	2.6M	1.9M
Operating income	56.2M	57.7M	51.9M	44.5M	51.5M	49.9M	47.3M	43.9M	42M	42.6M	34.2M	59.5M
Operating margin	59.4%	59.4%	57.6%	52.5%	56.9%	54.9%	53.4%	51.1%	49%	48.7%	42.5%	55.7%
Non-operating income, net	15.7M	-11M	6.9M	3.6M	-8.6M	20.3M	-7M	-2.8M	-2.6M	888K	5M	4.6M
Pretax income	45.1M	19.4M	33.2M	21.9M	17.4M	45.3M	18.8M	17.7M	16.8M	21.6M	19.5M	44.9M
Income tax	33K	4K	-20K	72K	18K	62K	33K	16K	18K	15K	23K	12K
Net income	45.1M	19.4M	33.2M	21.8M	17.4M	45.2M	18.7M	17.7M	16.8M	21.6M	19.5M	44.9M
Net margin	47.7%	19.9%	36.8%	25.8%	19.2%	49.7%	21.2%	20.6%	19.6%	24.6%	24.3%	42%
EBITDA	75.7M	76.8M	71.5M	64.3M	71.3M	69.5M	66.4M	63.8M	62.2M	63.2M	53.9M	79.6M
EPS	0.84	0.36	0.62	0.41	0.32	0.84	0.35	0.33	0.31	0.4	0.36	0.83
Diluted EPS	0.84	0.36	0.62	0.4	0.32	0.84	0.35	0.33	0.31	0.4	0.36	0.83

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	—	473.4M	1.3B	1.7B	1.6B	1.2B	1.3B	1.7B
Enterprise value	—	—	—	—	1.7B	2.7B	3.1B	3B	2.6B	2.8B	3.1B
Shares outstanding	12.8M	30.8M	40.5M	54.1M	54.1M	53.3M	53.2M	53.7M	53.9M	54.1M	54.1M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	58.4	7.72	9.25	13	10.5	18	16.3
P/S	—	—	—	—	2.88	3.65	5	4.21	3.47	3.88	4.66
P/B	—	—	—	—	0.57	1.41	1.92	1.84	1.53	1.88	2.39
EV/EBITDA	—	—	—	—	14.9	9.9	11.4	10.1	9.43	10.8	12.8
EV/Sales	—	—	—	—	10.6	7.82	8.97	7.98	7.32	7.91	8.51
Earnings yield	—	—	—	—	1.71%	13%	10.8%	7.69%	9.53%	5.54%	6.12%
FCF yield	—	—	—	—	-127.2%	-4.08%	12.6%	11.2%	14.8%	10.4%	8.59%
PEG	—	—	—	—	—	—	—	—	—	—	0.11

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	—	-33.7%	43.6%	52.1%	49.8%	60.9%	60.3%	61.4%	58.3%	52.9%	57.5%
Operating margin	—	-46.2%	37.6%	45.9%	46%	58.6%	57.7%	58.5%	55.5%	50.6%	55.7%
Net margin	—	-38.1%	15.3%	14.1%	4.93%	47.2%	54%	32.4%	33%	21.5%	28.5%
ROE	-0.87%	-2%	1.42%	2.02%	0.97%	18.2%	20.7%	14.2%	14.6%	10.4%	14%
ROA	-0.84%	-1.52%	0.91%	1.03%	0.35%	6.3%	7.02%	4.43%	4.41%	2.85%	4.29%
ROIC	-0.7%	-1.88%	2.36%	3.65%	3.55%	8.66%	8.76%	9.65%	9.06%	8.28%	8.49%
Return on tangible assets	-0.84%	-1.52%	0.91%	1.03%	0.35%	6.3%	7.02%	4.43%	4.41%	2.85%	4.01%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.39	3.99	1.7	2.49	1.2	1.71	2.31	2.89	2.99	3.03	2.69
Quick ratio	1.39	3.75	1.68	2.45	1.17	1.66	2.28	2.86	2.96	2.98	2.64
Debt / equity	0.03	0.31	0.55	0.93	1.68	1.84	1.89	2.14	2.24	2.57	2.55
Debt / assets	0.03	0.23	0.35	0.47	0.61	0.63	0.64	0.67	0.68	0.7	0.7
Net debt / EBITDA	-3.77	-14.8	8.52	7.67	10.9	5.28	5.06	4.77	4.96	5.48	5.39
Interest coverage	-4.7	-43.4	1.66	1.51	1.2	3.89	3.46	2.1	2.12	1.81	2.2
Effective tax rate	0%	0%	0%	1.06%	1.03%	0.06%	0.05%	0.06%	0.11%	0.11%	0.07%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	0	0.89	1.91	2.22	3.04	6.44	6.54	6.91	6.62	6.43	6.66
EPS (basic)	-0.1	-0.34	0.29	0.31	0.15	3.04	3.53	2.24	2.19	1.38	1.38
EPS (diluted)	-0.1	-0.34	0.29	0.31	0.15	3.04	3.51	2.22	2.18	1.38	1.9
Book value per share	16.1	16.9	20.5	15.5	15.4	16.7	17.1	15.8	15	13.3	13
FCF per share	-0.18	-3.1	-13.6	-4.44	-11.1	-0.96	4.13	3.26	3.39	2.6	2.96
Cash per share	0.11	0.32	1.36	2.38	2.38	3.76	6.25	7.64	8.12	8.28	7.35
Capex per share	0.09	2.46	14.4	5.39	12.8	4.99	0	0	0	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	277.3%	753.1%	243%	420.4%	77.4%	0%	0%	0%	—	—
Capex / operating cash flow	-101.9%	-476.6%	2K%	563.6%	872.3%	111.2%	0%	0%	0%	—	—
Payout ratio	—	0%	0%	31.9%	133.5%	61%	99%	151%	137.4%	216.9%	157.9%
Dividend yield	—	—	—	—	2.29%	7.9%	10.7%	11.6%	13.1%	12%	9.74%

Yield

9.74%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.75

ex-dividend Sep 3, 2026

Payout ratio

158%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 3, 2026	$0.75
May 29, 2026	$0.75
Feb 27, 2026	$0.75
Nov 28, 2025	$0.75
Sep 5, 2025	$0.75
Jun 5, 2025	$0.75
Feb 19, 2025	$0.75
Nov 26, 2024	$0.75

Split history

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$94.6M	$97.2M	$90.2M	$84.7M	$90.5M	$90.9M	$88.4M	$86M	$85.7M	$87.5M	$80.5M	$106.8M
YoY change	+3.64%	-0.71%	-2.42%	-2.34%	-4.34%	-6.48%	-1.99%	+1.52%	-5.31%	-3.74%	-9.02%	+24.2%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	1.4M	10M	54.9M	129M	128.9M	200.7M	332.3M	410.4M	437.2M	447.6M
Receivables	46K	486K	0	5.4M	4M	5.3M	4.9M	447K	1.4M	392K
Inventory	0	1M	915K	2.7M	3.7M	6.5M	5.3M	5.1M	4.8M	9M
Total current assets	1.7M	17.6M	60.4M	143.9M	157.8M	224.9M	354M	443.1M	474.4M	503.3M
Property, plant & equipment	2K	72M	1.2B	1.5B	2.1B	2.3B	2.3B	2.2B	2.2B	2.1B
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—
Total assets	214.1M	684.5M	1.3B	1.6B	2.3B	2.6B	2.7B	2.7B	2.7B	2.6B
Accounts payable	46K	76K	592K	582K	3.4M	2M	1.8M	3.5M	2M	10.5M
Short-term debt	—	0	23.4M	34.6M	64.5M	81.5M	95.5M	103.9M	106.7M	109.6M
Total current liabilities	1.2M	4.4M	35.5M	57.7M	131.8M	131.6M	153.2M	153.3M	158.8M	165.8M
Long-term debt	7M	160M	431.6M	744.3M	1.3B	1.6B	1.6B	1.7B	1.7B	1.7B
Total liabilities	8.2M	164.4M	467.1M	802M	1.5B	1.7B	1.8B	1.9B	1.9B	1.9B
Shareholders' equity	205.9M	520.1M	827.3M	839.3M	835.2M	889.4M	907.1M	847.7M	806.6M	719.3M
Total debt	7M	160M	455M	778.8M	1.4B	1.6B	1.7B	1.8B	1.8B	1.8B
Net debt	5.6M	150M	400M	649.8M	1.3B	1.4B	1.4B	1.4B	1.4B	1.4B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	429.4M	410.4M	383.2M	370.2M	289.5M	437.2M	409.6M	412.7M	478.7M	447.6M	389.1M	397.4M
Receivables	5.4M	447K	7.2M	6.2M	6.5M	1.4M	4M	5.2M	—	392K	—	0
Inventory	5.2M	5.1M	5.4M	5M	5M	4.8M	5M	4.8M	7.8M	9M	6.3M	7.5M
Total current assets	464M	443.1M	429.9M	415.2M	332.5M	474.4M	460.3M	470M	540.3M	503.3M	469.5M	455.4M
Property, plant & equipment	2.2B	2.2B	2.2B	2.2B	2.2B	2.2B	2.1B	2.1B	2.1B	2.1B	2.1B	2.1B
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	2.8B	2.7B	2.7B	2.6B	2.5B	2.7B	2.6B	2.6B	2.7B	2.6B	2.6B	2.6B
Accounts payable	3.5M	3.5M	2.3M	2.8M	2.4M	2M	3.7M	2.5M	9.2M	10.5M	7.5M	6.1M
Short-term debt	103.6M	103.9M	103.7M	104.1M	95.4M	106.7M	106.9M	105.9M	108.2M	109.6M	110.2M	110.8M
Total current liabilities	159.8M	153.3M	153.6M	161.6M	150.1M	158.8M	166.1M	165.8M	174.3M	165.8M	172.4M	169.6M
Long-term debt	1.7B	1.7B	1.7B	1.7B	1.6B	1.7B	1.7B	1.7B	1.8B	1.7B	1.7B	1.7B
Total liabilities	1.9B	1.9B	1.8B	1.8B	1.7B	1.9B	1.8B	1.9B	1.9B	1.9B	1.9B	1.9B
Shareholders' equity	874.9M	847.7M	840.9M	823.6M	801.9M	806.6M	784.8M	762M	738.3M	719.3M	698.2M	702.5M
Total debt	1.8B	1.8B	1.8B	1.8B	1.7B	1.8B	1.8B	1.8B	1.9B	1.8B	1.8B	1.8B
Net debt	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-1.8M	-10.4M	11.8M	17M	8.1M	162.2M	188M	120M	117.7M	74.8M
Depreciation & amortization	2K	2K	17.4M	28.7M	41.8M	69.8M	72.2M	73.4M	75.5M	76.6M
Stock-based compensation	97K	115K	202K	324K	284K	-1.3M	331K	1.7M	1.1M	76K
Change in working capital	204K	-5.5M	140K	1.1M	21.8M	7.8M	14.4M	-19.2M	-803K	-14.9M
Operating cash flow	-1.2M	-15.9M	29M	51.7M	79.3M	239.1M	282.1M	157.7M	183.1M	140.7M
Capital expenditure	-1.2M	-75.8M	-581.5M	-291.5M	-691.4M	-265.9M	-5K	-2K	-4K	—
Investing cash flow	-1.2M	-75.8M	-581.5M	-291.6M	-691.4M	-265.9M	-5K	-2K	-4K	—
Dividends paid	—	0	0	-5.4M	-10.8M	-98.9M	-186.1M	-181.2M	-161.7M	-162.3M
Share repurchases	—	—	0	0	-1.7M	-7.8M	0	0	—	—
Financing cash flow	0	104M	593.9M	264M	554M	-174.8M	-502.8M	-1.7B	-155.6M	-130.7M
Net change in cash	-2.4M	12.3M	41.4M	24.2M	-58.2M	-201.6M	-220.8M	-1.5B	27.5M	10.1M
Free cash flow	-2.3M	-95.5M	-548.7M	-240M	-602.1M	-51.1M	219.9M	175M	182.8M	140.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	—	—	—	—	—	—	—	—	16.8M	21.6M	19.5M	44.9M
Depreciation & amortization	—	—	—	—	—	—	—	—	19.4M	19.6M	19.3M	19.8M
Stock-based compensation	—	—	—	—	—	—	—	—	0	0	0	0
Change in working capital	—	—	—	—	—	—	—	—	1.6M	-3.7M	-18.6M	18.6M
Operating cash flow	593K	432K	-3.1M	-6M	-158K	-1.1M	-2M	-10.3M	37.2M	36.4M	9.7M	76.8M
Capital expenditure	—	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	—	—	—	—	—	—	—	—	—	—	—	—
Dividends paid	—	—	—	—	—	—	—	—	-40.6M	-40.6M	-40.6M	-40.6M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	—	—	—	—	—	—	—	—	-359.8M	1.2B	-68.4M	-68.4M
Net change in cash	593K	432K	-3.1M	-6M	-158K	-1.1M	-2M	-10.3M	-322.6M	1.2B	-58.7M	8.4M
Free cash flow	—	—	—	—	—	—	—	—	37.2M	36.4M	9.7M	76.8M

FLEX LNG Ltd. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement