Frontline plc (FRO) 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	$2.62	$2.61	-0.4%	—	$943.3M	—
Q1 26	$1.58	$1.55	-1.9%	—	$714.2M	—
Q4 25	$1.13	$1.03	-8.8%	—	$624.5M	—
Q2 25	$0.55	$0.36	-34.5%	—	—	—
Q1 25	$0.22	$0.18	-18.2%	—	—	—
Q4 24	$0.2	$0.2	0.0%	—	—	—
Q3 24	$0.38	$0.34	-10.5%	—	—	—
Q2 24	$0.65	$0.62	-4.6%	—	—	—
Q1 24	$0.67	$0.62	-7.5%	—	—	—
Q4 23	$0.45	$0.46	+2.2%	—	—	—
Q3 23	$0.49	$0.36	-26.5%	—	—	—
Q2 23	$0.82	$0.94	+14.6%	—	$512.8M	—
Q1 23	$0.82	$0.87	+6.1%	—	$497.3M	—
Q4 22	$1.03	$0.97	-5.8%	—	$530.1M	—
Q3 22	$0.35	$0.37	+5.7%	—	$382.2M	—
Q2 22	$0.2	$0.21	+5.0%	—	$300.4M	—

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	—	$1.7	—	—	$2B	—
FY24	—	$2.23	—	—	$2.1B	—
FY23	—	$2.95	—	—	$1.8B	—
FY22	—	$2.21	—	—	$1.4B

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	$754.3M	$646.3M	$742.3M	$957.3M	$1.2B	$749.4M	$1.4B	$1.8B	$2.1B	$2B
YoY change	+64.4%	-14.3%	+14.8%	+29%	+27.6%	-38.6%	+90.9%	+26%	+13.8%	-4.16%

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	754.3M	646.3M	742.3M	957.3M	1.2B	749.4M	1.4B	1.8B	2.1B	2B
Cost of revenue	490M	556.5M	652.2M	678.8M	684.5M	722.1M	945.9M	1B	1.3B	1.3B
Gross profit	264.3M	89.8M	90.1M	278.5M	536.7M	27.2M	484.3M	776.1M	705.7M	644M
Gross margin	35%	13.9%	12.1%	29.1%	43.9%	3.63%	33.9%	43.1%	34.4%	32.8%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	37M	37.6M	37.3M	45M	58.8M	26.4M	47.4M	53.5M	36.1M	51.4M
Operating expenses	18.4M	11.5M	37.4M	45.3M	59M	25.6M	47.5M	51.8M	36M	51.2M
Operating income	223.2M	52.2M	52.6M	233.2M	477.7M	1.6M	436.8M	724.3M	669.6M	592.8M
Operating margin	29.6%	8.08%	7.09%	24.4%	39.1%	0.22%	30.5%	40.2%	32.7%	30.2%
Non-operating income, net	-49.1M	-247M	31.7M	70K	6.8M	49.5M	136.6M	94.9M	120.1M	8.8M
Pretax income	117.9M	-264M	-8.1M	140.3M	413M	-10.3M	475.9M	656.6M	503.3M	385.1M
Income tax	345K	290K	316K	307K	-14K	4.6M	412K	205K	7.7M	6M
Net income	117.5M	-264.3M	-8.4M	140M	413M	-15M	475.5M	656.4M	495.6M	379.1M
Net margin	15.6%	-40.9%	-1.13%	14.6%	33.8%	-2%	33.2%	36.4%	24.2%	19.3%
EBITDA	385.5M	223.8M	199M	361.9M	618.5M	164.7M	615.3M	974.6M	1B	936.8M
EPS	0.75	-1.56	-0.05	0.81	2.11	-0.06	2.21	2.95	2.23	1.7
Diluted EPS	0.75	-1.56	-0.05	0.78	2.09	-0.06	2.21	2.95	2.23	1.7

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	—	—	—	—	—	—	—	—	432.7M	624.5M	714.2M	943.3M
Cost of revenue	—	—	—	—	—	—	—	—	327.3M	335.6M	318.3M	334.7M
Gross profit	—	—	—	—	—	—	—	—	105.3M	288.9M	396M	608.6M
Gross margin	—	—	—	—	—	—	—	—	24.3%	46.3%	55.4%	64.5%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	15.3M	11.2M	25.9M	12.5M
Operating expenses	—	—	—	—	—	—	—	—	9.4M	17.1M	-189.2M	-62.9M
Operating income	—	—	—	—	—	—	—	—	96M	271.8M	585.1M	671.5M
Operating margin	—	—	—	—	—	—	—	—	22.2%	43.5%	81.9%	71.2%
Non-operating income, net	—	—	—	—	—	—	—	—	580K	5M	12.1M	18.7M
Pretax income	—	—	—	—	—	—	—	—	41.6M	229.1M	559.7M	659.7M
Income tax	—	—	—	—	—	—	—	—	1.3M	1.2M	570K	554K
Net income	—	—	—	—	—	—	—	—	40.3M	227.9M	559.1M	659.2M
Net margin	—	—	—	—	—	—	—	—	9.32%	36.5%	78.3%	69.9%
EBITDA	175.1M	143.1M	254.7M	259.4M	149.9M	104M	98.6M	136.8M	100M	272.9M	599.2M	688.6M
EPS	0.48	1.07	0.81	—	0.27	0.3	0.15	0.35	0.18	1.02	2.51	2.96
Diluted EPS	0.48	1.07	0.81	—	0.27	0.3	0.15	0.35	0.18	1.02	2.51	2.96

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	1.1B	779.4M	939M	2.2B	—	1.4B	2.6B	4.5B	3.2B	4.9B	10.7B
Enterprise value	2.3B	2.5B	2.7B	4.1B	—	3.7B	4.5B	7.6B	6.5B	7.7B	12.8B
Shares outstanding	157M	169.8M	169.8M	172.8M	195.6M	199M	214M	222.6M	222.6M	222.6M	222.6M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	9.5	—	—	15.9	—	—	5.46	6.8	6.37	12.8	7.16
P/S	1.48	1.21	1.27	2.32	—	1.88	1.82	2.48	1.54	2.47	3.94
P/B	0.74	0.66	0.81	1.47	—	0.86	1.15	1.96	1.35	1.93	3.39
EV/EBITDA	5.97	11.3	13.5	11.4	—	22.3	7.32	7.81	6.34	8.19	7.78
EV/Sales	3.05	3.91	3.63	4.29	—	4.9	3.15	4.22	3.16	3.9	4.72
Earnings yield	10.5%	—	—	6.3%	—	—	18.3%	14.7%	15.7%	7.8%	14%
FCF yield	-30.1%	-74.8%	-18.1%	3.79%	—	-27.6%	1.91%	-17.4%	-5.66%	13.8%	2.65%
PEG	—	—	—	—	—	—	—	—	—	—	0.01

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	35%	13.9%	12.1%	29.1%	43.9%	3.63%	33.9%	43.1%	34.4%	32.8%	64.5%
Operating margin	29.6%	8.08%	7.09%	24.4%	39.1%	0.22%	30.5%	40.2%	32.7%	30.2%	65.8%
Net margin	15.6%	-40.9%	-1.13%	14.6%	33.8%	-2%	33.2%	36.4%	24.2%	19.3%	54.8%
ROE	7.84%	-22.3%	-0.72%	9.27%	25.6%	-0.91%	21%	28.8%	21.2%	15.1%	53.9%
ROA	3.96%	-8.43%	-0.27%	3.79%	10.5%	-0.36%	9.97%	11.2%	7.97%	6.59%	14.2%
ROIC	8.29%	1.78%	1.81%	6.85%	13.1%	0.04%	10.5%	13.4%	11.6%	11%	30.8%
Return on tangible assets	4.67%	-9.09%	-0.29%	4.03%	11.2%	-0.39%	10.5%	11.6%	8.27%	6.86%	26.6%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.1	1.45	1.44	0.53	1.34	1.16	2.25	1.78	1.39	1.43	1.87
Quick ratio	1.64	1	0.84	0.37	1.02	0.74	1.69	1.18	0.99	0.9	1.87
Debt / equity	0.94	1.58	1.57	1.37	1.37	1.45	1.06	1.52	1.6	1.22	0.77
Debt / assets	0.47	0.6	0.59	0.56	0.56	0.58	0.5	0.59	0.6	0.53	0.42
Net debt / EBITDA	3.07	7.8	8.81	5.22	3.27	13.7	3.09	3.23	3.25	3	1.27
Interest coverage	3.08	-2.78	0.91	2.49	6.72	0.83	5.82	4.68	2.66	2.67	9.13
Effective tax rate	0.29%	0%	0%	0.22%	0%	0%	0.09%	0.03%	1.52%	1.56%	0.24%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	4.81	3.81	4.37	5.54	6.24	3.77	6.68	8.1	9.21	8.83	12.2
EPS (basic)	0.75	-1.56	-0.05	0.81	2.11	-0.06	2.21	2.95	2.23	1.7	1.7
EPS (diluted)	0.75	-1.56	-0.05	0.78	2.09	-0.06	2.21	2.95	2.23	1.7	6.72
Book value per share	9.55	6.99	6.86	8.74	8.24	8.25	10.6	10.2	10.5	11.3	14.2
FCF per share	-2.14	-3.43	-1	0.49	-0.61	-1.95	0.23	-3.48	-0.8	3.01	3.09
Cash per share	1.41	0.78	0.46	1.03	0.91	0.58	2.29	1.42	1.88	1.14	1.45
Capex per share	2.86	4.2	1.27	1.12	3.58	1.98	1.2	6.69	2.17	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	59.6%	110.4%	29.1%	20.2%	57.3%	52.5%	17.9%	82.6%	23.6%	—	—
Capex / operating cash flow	199.3%	-452.8%	433.3%	81%	112.7%	245.4%	49.6%	143.7%	44.5%	—	—
Payout ratio	140%	-19.4%	-4.6%	14.1%	75.6%	0%	7.02%	97.3%	87.6%	54.6%	46.9%
Dividend yield	14.7%	6.59%	0.04%	0.89%	—	0%	1.29%	14.3%	13.7%	4.26%	28.4%

Yield

28.4%

trailing twelve months

Frequency

Quarterly

Last dividend

$3.41

ex-dividend Sep 18, 2026

Payout ratio

47%

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 18, 2026	$3.41
Jun 12, 2026	$1.55
Mar 12, 2026	$1.03

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	—	—	—	—	—	—	—	—	$432.7M	$624.5M	$714.2M	$943.3M
YoY change	—	—	—	—	—	—	—	—	—	—	—	—

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	220.6M	132.5M	78.1M	178M	177.4M	115.5M	490.8M	315.8M	417.6M	253.4M
Receivables	49.1M	49.6M	54M	63.2M	41M	45.3M	67.4M	—	117.6M	123.5M
Inventory	83M	100M	128.2M	138M	92.6M	119.3M	217.8M	245.2M	237.2M	261.2M
Total current assets	383.6M	321.6M	308.2M	448.5M	378.3M	332.7M	881M	727.9M	826M	707.3M
Property, plant & equipment	2.6B	2.6B	2.7B	3B	3.4B	3.5B	3.6B	4.6B	5.2B	4.9B
Goodwill & intangibles	450.5M	224.9M	224.9M	224.9M	224.9M	224.9M	224.9M	224.9M	224.9M	224.9M
Total assets	3B	3.1B	3.1B	3.7B	3.9B	4.1B	4.8B	5.9B	6.2B	5.8B
Accounts payable	4.3M	11.8M	22.2M	13M	7.9M	2.3M	8M	7.8M	6M	10.6M
Short-term debt	123.9M	156.4M	132.3M	727.3M	179.4M	207.4M	278.9M	263.1M	461.5M	320.5M
Total current liabilities	182.7M	222M	214.2M	848.1M	281.4M	287M	391.7M	409.1M	595.7M	494.7M
Long-term debt	1.3B	1.7B	1.7B	1.3B	2B	2.2B	2.1B	3.2B	3.3B	2.7B
Total liabilities	1.5B	1.9B	1.9B	2.2B	2.3B	2.5B	2.5B	3.6B	3.9B	3.2B
Shareholders' equity	1.5B	1.2B	1.2B	1.5B	1.6B	1.6B	2.3B	2.3B	2.3B	2.5B
Total debt	1.4B	1.9B	1.8B	2.1B	2.2B	2.4B	2.4B	3.5B	3.7B	3.1B
Net debt	1.2B	1.8B	1.8B	1.9B	2B	2.3B	2.1B	3.2B	3.3B	2.8B

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	515.6M	315.8M	303.5M	367.5M	326.3M	417.6M	438.4M	478.7M	191.7M	253.4M	471.7M	322.3M
Receivables	145.3M	—	—	147.8M	—	117.6M	—	119.1M	—	123.5M	—	—
Inventory	156.4M	245.2M	—	286.4M	—	237.2M	—	229.1M	—	261.2M	—	—
Total current assets	855.8M	727.9M	839.7M	859.3M	782.2M	826M	835.6M	887.8M	599.9M	707.3M	959.1M	912.4M
Property, plant & equipment	3.6B	4.6B	5.6B	5.4B	5.4B	5.2B	5.2B	5.1B	5B	4.9B	4.3B	4.5B
Goodwill & intangibles	224.9M	224.9M	224.9M	224.9M	224.9M	224.9M	224.9M	224.9M	224.9M	224.9M	224.9M	224.9M
Total assets	4.6B	5.9B	6.6B	6.5B	6.3B	6.2B	6.1B	6.1B	5.7B	5.8B	5.7B	5.8B
Accounts payable	64.2M	7.8M	—	111.1M	—	6M	—	—	—	10.6M	—	—
Short-term debt	366.1M	263.1M	325.6M	456.2M	403.3M	461.5M	319.4M	317.8M	293.6M	320.5M	279.6M	265.9M
Total current liabilities	476.9M	409.1M	479.1M	621.8M	547.7M	595.7M	457.9M	473.5M	438.3M	494.7M	471.5M	488M
Long-term debt	1.9B	3.2B	3.8B	3.4B	3.4B	3.3B	3.4B	3.3B	2.9B	2.7B	2.4B	2.2B
Total liabilities	2.4B	3.6B	4.2B	4B	3.9B	3.9B	3.8B	3.7B	3.4B	3.2B	2.8B	2.7B
Shareholders' equity	2.2B	2.3B	2.4B	2.4B	2.3B	2.3B	2.3B	2.4B	2.3B	2.5B	2.8B	3.2B
Total debt	2.3B	3.5B	4.1B	3.9B	3.8B	3.7B	3.7B	3.6B	3.2B	3.1B	2.6B	2.4B
Net debt	2B	3.2B	3.8B	3.5B	3.5B	3.3B	3.2B	3.1B	3.1B	2.8B	2.2B	2.1B

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	117.5M	-264.3M	-8.4M	140M	413M	-15M	475.5M	656.4M	495.6M	379.1M
Depreciation & amortization	143.1M	143.7M	125M	122.5M	144.4M	160.2M	162.4M	230.9M	339M	328.5M
Stock-based compensation	—	—	—	—	—	185K	4.7M	10.7M	-2.2M	5.6M
Change in working capital	-11.1M	-10.4M	-35.9M	-36.9M	76.8M	-17.4M	-166.8M	-4.5M	-5M	-23.5M
Operating cash flow	225.5M	-157.6M	49.9M	238.9M	620.8M	160.5M	515.8M	1B	1.1B	682.5M
Capital expenditure	-449.3M	-713.6M	-216.3M	-193.6M	-699.6M	-393.8M	-255.8M	-1.5B	-483.4M	—
Investing cash flow	-396.4M	-722.5M	-181.5M	-190.6M	-716M	-374.4M	-257.3M	-1.2B	-483.4M	360K
Dividends paid	-164.6M	-51.4M	-386K	-19.7M	-312.4M	0	-33.4M	-638.9M	-434.1M	-207M
Share repurchases	-17K	0	0	—	—	—	—	—	—	—
Financing cash flow	48.6M	493.8M	116.1M	19.9M	124.2M	219.5M	13.4M	433.1M	-147.8M	-869.6M
Net change in cash	-122.4M	-386.3M	-15.5M	68.2M	29M	5.5M	271.9M	233.9M	454.5M	-186.8M
Free cash flow	-336.4M	-583.1M	-170.1M	84.2M	-120.3M	-388.5M	49.5M	-775.2M	-178.8M	669.9M

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	107.7M	—	180.8M	187.6M	60.5M	66.7M	—	—	—	—	—	—
Depreciation & amortization	58.3M	—	88M	83.7M	84.2M	83.1M	—	—	—	—	—	—
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	205.3M	—	335.4M	330.7M	213.9M	212.9M	—	153.5M	107.6M	283.4M	382.5M	579.5M
Capital expenditure	-236K	-1.5B	-725.1M	198.9M	-2.4M	45.2M	-466K	—	—	—	—	—
Investing cash flow	-1.7M	-1.5B	-725.1M	198.9M	-2.4M	45.2M	-105K	0	0	-1K	1.9M	0
Dividends paid	-178.1M	-66.8M	-82.4M	-138M	-138M	-75.7M	-44.5M	-40.1M	-80.1M	-42.3M	-229.3M	-345.1M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-223.7M	1.1B	542.8M	-369.7M	-200.5M	-120.4M	-114.8M	-111.4M	-428.8M	-214.5M	-669.2M	-536.6M
Net change in cash	-20.2M	-329.4M	153.1M	159.9M	11M	137.7M	-114.9M	42.1M	-321.2M	68.8M	-284.8M	42.9M
Free cash flow	202.3M	-1.4B	-727.7M	223.2M	162.1M	163.5M	137.5M	151.6M	104.4M	276.5M	59.5M	248.7M

Frontline plc 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

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

Split history