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Flex LNG Ltd.

FLNG Energy Oil & Gas Midstream

Flex LNG Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $347.6 million, down 2.44% from fiscal 2024. In the quarter to June 2026, revenue grew 24.2%, EPS grew 151.5%, free cash flow grew 185.6% and total debt was flat, each against the same quarter a year earlier. Dividend growth for three consecutive years.

28.18 0.46 −1.61%
Market cap
$1.5B
P/E
14.8×
Fwd P/E
14.3×
Dividend yield
10.7%
F-score
4/9
Altman Z
0.82
Beneish M
−3.25
Dividend safety
8/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 42.74%

Capital & Financial Ratios $m

Market Cap 1,520.00
Revenue 360.47
Net Income 102.73
Free Cash Flow 160.14
Net Debt 1,396.29
Current Ratio 2.69 (at or above 1.5: strong)
Debt/Equity 2.55 (above 2: weak)
P/E ratio 14.83
Fwd P/E 14.30
P/S ratio 4.22
P/B ratio 2.17
Past 5Y EPS Growth 55.87% (at or above 15%: strong)
This Y EPS Growth 24.69% (at or above 15%: strong)
Next Y EPS Growth (9.78%) (below 0%: weak)
Next Y revenue growth 3.01%
Next 5Y EPS Growth 8.45%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 8.1×, against a ten-year median of 8.5×; over the ten years it ranged from 6.1× in 2020 to 19.0× in 2019.
P/E against its own 10 years 66.84%
10-year low 10-year high
P/S against its own 10 years 56.12%
10-year low 10-year high
P/B against its own 10 years 92.32%
10-year low 10-year high
EV/Sales against its own 10 years 37.14%
10-year low 10-year high
EV/FCF against its own 10 years 76.95%
10-year low 10-year high

Dividends

Payout Ratio 1.58
Annual Dividend Rate 3.00
Annual Dividend Yield 10.65%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 3.00
0.75
0.75
0.75
2025 3.00
0.75
0.75
0.75
0.75
2024 3.00
0.75
0.75
0.75
0.75
2023 2.25
0.25
0.75
0.75
0.75
2022 2.25
0.75
0.75
0.50
0.75
2021 1.85
0.30
0.40
0.40
0.75
2020 0.20
0.10
0.10
2019 0.10
0.10
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 411 437 448 397
Receivables 1 1 0 0
Inventory 5 5 9 7
Other 27 32 46 50
443 474 503 455
2023 2024 2025 Q'26
Payables 4 2 11 6
ST’ Debt 104 107 110 111
Other 46 50 45 51
153 159 166 170

Compound Annual Growth %

10y 5y 3y
Sales — 16.15% (0.03%)
Cash Flow — 9.52% (13.82%)
Earnings — 55.97% (26.45%)
Book Value — (2.94%) (7.44%)

Revenue $m

Mar Jun Sep Dec Year
’26 80 107 — — —
’25 88 86 86 88 348
’24 90 85 90 91 356
’23 92 87 95 97 371
’22 75 84 91 98 348
’21 81 66 82 115 343
’20 38 26 33 67 164
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 10 77 — — —
’25 40 27 37 36 141
’24 35 47 48 52 183
’23 34 41 46 54 175
’22 42 52 72 53 220
’21 44 47 44 79 215
’20 14 4 20 52 89
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 10 77 — — —
’25 40 27 37 36 141
’24 35 47 48 52 183
’23 29 41 46 54 175
’22 42 52 72 53 220
’21 (93) (82) 45 79 (51)
’20 14 4 (395) (99) (476)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.36 0.83 — — —
’25 0.35 0.33 0.31 0.40 1.38
’24 0.62 0.40 0.32 0.84 2.18
’23 0.31 0.72 0.84 0.36 2.22
’22 1.05 0.83 0.87 0.77 3.51
’21 0.88 0.24 0.62 1.30 3.04
’20 (0.27) (0.12) 0.07 0.48 0.15
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 10.30 10.30 11.80 7.90 3.40 7.81 16.65 27.76 20.85 19.46

Analyst estimates 2026–2028

Powerpack
High 14.10 15.00 18.70 14.80 10.99 25.44 38.24 35.97 31.41 27.67
People
People Employees — — 6 8 9 8 9 10 9 9
Revenue/emp, $m — 0.00 12.87 15.00 18.27 42.93 38.66 37.10 39.59 38.63
Income, $m
Income, $m Revenue — 27 77 120 164 343 348 371 356 348
Gross margin, % 0.00 (33.67) 66.12 76.07 75.26 81.20 81.05 81.12 79.43 74.90
EBT (2) (10) 12 17 8 162 188 120 118 75
EBT margin, % 0.00 (38.02) 15.24 14.29 4.98 47.26 54.08 32.37 33.06 21.54
Net income (2) (10) 12 17 8 162 188 120 118 75
Depreciation 0 0 18 30 44 75 76 76 78 79
Per share, $
Per share, $ Revenue 0.00 0.89 1.91 2.22 3.04 6.44 6.54 6.91 6.62 6.43
Earnings (0.12) (0.34) 0.29 0.31 0.15 3.04 3.53 2.24 2.19 1.38
Cash flow 0.00 (0.58) 0.88 0.95 1.65 4.03 4.13 3.26 3.39 2.60
Capex 0.00 (2.35) 0.00 (5.39) (10.45) (4.99) 0.00 0.00 0.00 0.00
Free cash flow 0.00 (2.93) 0.88 (4.44) (8.80) (0.96) 4.13 3.26 3.39 2.60
Book value 0.00 16.99 20.45 15.51 15.44 16.68 17.05 15.79 14.98 13.30
Shares, m 0 31 40 54 54 53 53 54 54 54
Valuation, ×
Valuation, × P/E — 50.82 50.82 34.06 54.69 7.70 8.67 13.40 10.47 17.95
P/S — 0.00 7.75 4.92 2.88 3.65 4.69 4.34 3.47 3.88
P/B — 0.00 0.72 0.70 0.57 1.41 1.80 1.90 1.53 1.88
EV/Sales — 0.00 12.93 10.33 10.62 7.82 8.67 8.12 7.32 7.91
EV/FCF — 0.00 (3.19) (2.10) (3.67) (52.55) 13.71 17.68 14.27 19.54
Cash, $m
Cash, $m Operating cash flow (1) (18) 36 52 89 215 220 175 183 141
Capex (1) (72) 0 (292) (566) (266) 0 0 0 —
Free cash flow (1) (90) 36 (240) (476) (51) 220 175 183 141
Balance, $m
Balance, $m Working capital 0 13 25 86 26 93 201 290 316 337
Total debt 7 160 455 779 1,401 1,633 1,715 1,812 1,810 1,848
Net debt 6 150 400 650 1,273 1,432 1,382 1,402 1,373 1,401
Shareholders’ equity 206 520 827 839 835 889 907 848 807 719
Returns, %
Returns, % ROA (0.39) (2.32) 1.19 1.16 0.41 6.65 7.16 4.46 4.38 2.83
ROIC 0.00 (1.18) 1.48 2.31 2.24 5.42 5.48 6.03 5.67 5.18
ROE (0.48) (2.87) 1.75 2.04 0.97 18.81 20.93 13.68 14.23 9.81
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Flex LNG Ltd. vs peers in Oil & Gas Midstream (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
NGL NGL Energy Partners LP $1.9B — (loss-making) 18.6× +59.12% (above 0%: growing) +1,100.00% (above 0%: growing) −386.50% (below 0%: shrinking) 30.87% 14.68% Compare
GEL Genesis Energy, L.P. $1.7B 74.9× 261× +40.98% (above 0%: growing) n/m +2,417.50% (above 0%: growing) 32.06% 19.82% Compare
GLP Global Partners LP $1.7B 10.1× 10.4× +46.79% (above 0%: growing) +240.00% (above 0%: growing) +36.41% (above 0%: growing) 4.84% 1.58% Compare
NAT Nordic American Tankers Limited $1.7B 13.0× 8.6× +133.96% (above 0%: growing) n/m +197.49% (above 0%: growing) 83.25% 82.06% Compare
PBT Permian Basin Royalty Trust $1.6B 94.7× 21.9× +34.59% (above 0%: growing) +60.00% (above 0%: growing) — 100.00% 92.68% Compare
FLNG Flex LNG Ltd. $1.5B 14.8× 14.3× +24.21% (above 0%: growing) +151.52% (above 0%: growing) +185.57% (above 0%: growing) 76.00% 55.68%
TEN Tsakos Energy Navigation Ltd $1.5B 5.2× 8.0× +54.37% (above 0%: growing) +556.72% (above 0%: growing) +185.92% (above 0%: growing) 62.31% 54.53% Compare
NVGS Navigator Holdings Ltd. $1.3B 9.7× 7.8× +29.55% (above 0%: growing) +177.42% (above 0%: growing) +9.98% (above 0%: growing) 55.10% 28.48% Compare
TK Teekay Corporation Ltd. $1.2B 9.6× 41.1× −24.36% (below 0%: shrinking) −23.68% (below 0%: shrinking) +211.73% (above 0%: growing) 31.43% 27.41% Compare
Median of peers $1.6B 10.1× 14.5× +43.88% +208.71% +185.92% 43.58% 27.95%

All 58 Oil & Gas Midstream stocks →

Flex LNG Ltd. (FLNG) key facts

  • Concern: Flex LNG Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $347.6 million, down 2.44% from fiscal 2024.
  • Concern: Net income was $74.8 million, or $1.38 per share (basic), a net margin of 21.5%.
  • Flex LNG Ltd. (FLNG) is an Oil & Gas Midstream company in the Energy sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, FLNG traded at $28.18, a market capitalization of $1.5 billion.
  • At that price the stock trades at 14.8× trailing-twelve-month earnings and 4.2× sales; its P/E is higher than 67% of its own readings over the past ten years.
  • Flex LNG Ltd. pays an annual dividend of $3.00 per share, a yield of 10.7%, with a payout ratio of 157.9%.
  • Return on equity was 9.81% and debt-to-equity 2.55.
  • Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 0.82 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Flex LNG Ltd. (FLNG) Latest News

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stockrow.com/FLNG · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com