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Friday 6 November 2026 Export FRO’s income statement to Excel — free account

Frontline PLC

FRO Energy Oil & Gas Midstream

Frontline PLC’s revenue for fiscal 2025 (year ended December 2025) was $2.0 billion, down 8.85% from fiscal 2024.

Revenue
+112.3%
EPS
+745.7%
Free cash flow
+155.4%
Total debt
−32.1%

Quarter to June 2026, against a year earlier

45.79 1.09 +2.44%
Market cap
$10.0B
P/E
6.7×
Fwd P/E
5.4×
Dividend yield
12.0%
F-score
6/9
Altman Z
1.79
Beneish M
−2.68
Dividend safety
51/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 35.71%

Capital & Financial Ratios $m

Size
Market Cap 9,950.00
Revenue ttm 3,011.14
Net income ttm 379.08
Free cash flow ttm 1,692.00
Net debt Q 2,112.54
Valuation
P/E 6.72
Forward P/E 5.38
Price / sales 3.32
Forward P/S Powerpack
Price / FCF 5.90
Price / book 3.17
Financial health
Current ratio Q 1.87 (at or above 1.5: strong)
Debt / equity Q 0.77
Interest coverage Q 19.06
Growth
Revenue growth Q +112.25% (above 0%: growing)
Operating income growth Q +409.18% (above 0%: growing)
EPS, this year +577.97% (at or above 15%: strong)
EPS, next year A −47.30% (below 0%: weak)
Revenue, next year A +40.37% (at or above 10%: strong)
EPS, past 5 yrs −4.05% (below 0%: weak)
EPS, next 5 yrs A +23.67% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.0×, against a ten-year median of 3.8×; over the ten years it ranged from 2.2× in 2020 to 5.7× in 2026.
P/E against its own 10 years 37.58%
10-year low 10-year high
P/S against its own 10 years 95.93%
10-year low 10-year high
P/B against its own 10 years 97.95%
10-year low 10-year high
EV/Sales against its own 10 years 56.14%
10-year low 10-year high
EV/FCF against its own 10 years 12.71%
10-year low 10-year high

Dividends

Yield
12.0%
Annual rate
5.38
Payout ratio
80.7%
Growth, 2017–25
+9.50%/yr
  1. 0.45 ’17
  2. 0.00 ’18 −100
  3. 0.10 ’19
  4. 1.60 ’20 +1500
  5. 0.00 ’21 −100
  6. 0.15 ’22
  7. 2.87 ’23 +1813
  8. 1.95 ’24 −32
  9. 0.93 ’25 −52
  10. 9.67 ’26e +940
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 316 420 254 322
Receivables 144 137 147 —
Inventory 135 137 120 —
Other 117 118 164 590
728 826 707 912
2023 2024 2025 Q'26
Payables 98 99 143 —
ST’ Debt 262 460 321 266
Other — 134 — 222
409 596 495 488

Compound Annual Growth %

10y 5y 3y
Sales 15.69% 10.05% 11.08%
Cash Flow 12.65% 2.47% 20.99%
Earnings 9.38% (1.69%) (7.28%)
Book Value 5.67% 9.27% 3.57%

Earnings Trends EPS, adjusted, against the consensus

Jun 2025 Estimate 0.42 Actual 0.36

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Sep 2024 0.39 0.34 Miss by 0.05
Dec 2024 0.20 0.20 Met by 0.00
Mar 2025 0.18 0.18 Met by 0.00
Jun 2025 0.42 0.36 Miss by 0.06

EPS $

Mar Jun Sep Dec Year
’26 2.51 2.96 — — —
’25 0.15 0.35 0.18 1.02 1.70
’24 0.81 0.84 0.27 0.30 2.23
’23 0.90 1.04 0.48 0.53 2.95
’22 0.15 0.23 0.69 1.08 2.21
’21 0.15 (0.13) (0.17) 0.10 (0.06)
’20 0.84 1.01 0.29 (0.05) 2.09
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 929 1,019 — — —
’25 428 480 439 625 1,971
’24 621 608 490 443 2,163
’23 512 522 377 415 1,826
’22 223 301 382 533 1,438
’21 194 170 172 218 753
’20 412 387 247 175 1,221
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 382 579 — — —
’25 138 154 108 283 682
’24 171 233 165 168 736
’23 270 283 203 100 856
’22 20 72 664 (370) 385
’21 12 29 (4) 48 85
’20 205 241 132 26 604
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 887 387 — — —
’25 137 152 142 276 707
’24 (554) 432 162 213 253
’23 218 324 202 (1,377) (633)
’22 86 (84) 743 (615) 130
’21 (32) (108) (40) (127) (308)
’20 178 142 101 18 438
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 754 646 742 957 1,221 753 1,438 1,826 2,163 1,971 3,011 +11.3% 2,767 2,007 1,419 (10.4%)
Gross margin, % 53.73 35.83 28.65 41.40 55.31 26.08 45.72 56.46 53.49 49.64 66.67 (4.1) pt
EBT 118 (264) (8) 140 413 (10) 476 657 503 385 1,490 +14.1%
EBT margin, % 15.62 (40.85) (1.09) 14.65 33.82 (1.37) 33.09 35.95 23.27 19.54 49.49 +3.9 pt
Net income 118 (264) (8) 140 413 (15) 476 656 496 379 379 +13.9%
Per share, $
Per share, $ Revenue 4.81 3.81 4.37 5.52 6.24 3.79 6.72 8.20 9.71 8.85 13.52 +7.0%
Earnings 0.75 (1.56) (0.05) 0.81 2.11 (0.06) 2.21 2.95 2.23 1.70 6.67 +9.5%
Cash flow 1.82 0.77 0.27 1.61 3.09 0.43 1.80 3.85 3.31 3.07 6.08 +6.0%
Capex (2.86) (4.20) (1.27) (1.13) (0.85) (1.98) (1.20) (6.69) (2.17) 0.11 1.52 n/m
Free cash flow (1.04) (3.43) (1.00) 0.49 2.24 (1.55) 0.61 (2.84) 1.14 3.18 7.60 n/m
Book value 9.55 6.99 6.86 8.70 8.24 8.25 10.56 10.23 10.51 11.28 14.17 +1.9%
Shares, m 157 170 170 174 196 199 214 223 223 223 223 +4.0%
Valuation, ×
Valuation, × P/E 10.07 0.00 0.00 16.36 2.93 0.00 5.37 6.83 6.39 12.84 6.72 6.1
P/S 1.55 1.23 1.27 2.33 1.00 1.87 1.72 2.46 1.46 2.46 3.32 1.7
P/B 0.78 0.67 0.81 1.48 0.76 0.86 1.09 1.97 1.35 1.93 3.17 1.2
EV/Sales 3.04 3.85 3.60 3.98 2.62 4.80 3.04 4.18 3.00 3.89 4.02 3.6
EV/FCF (14.07) (4.27) (15.69) 45.28 7.31 (11.72) 33.75 (12.06) 25.63 10.85 7.15 6.5
Cash, $m
Cash, $m Operating cash flow 286 130 46 280 604 85 385 856 736 682 1,353 +10.1%
Capex (449) (714) (216) (196) (166) (394) (256) (1,489) (483) 25 339 n/m
Free cash flow (163) (583) (170) 84 438 (308) 130 (633) 253 707 1,692 n/m
Balance, $m
Balance, $m Working capital 201 100 94 (400) 97 46 489 319 230 213 424 +0.6%
Net debt 1,127 1,692 1,731 1,581 1,986 2,210 1,900 3,142 3,325 2,814 2,113 +10.7%
Shareholders’ equity 1,500 1,188 1,164 1,510 1,612 1,642 2,260 2,277 2,340 2,511 3,155 +5.9%
Returns, %
Returns, % ROA 4.00 (8.68) (0.29) 4.13 10.84 (0.37) 10.72 12.33 8.19 6.33 24.94 +2.3 pt
ROIC 4.22 (1.81) 1.79 4.84 8.82 0.14 6.70 8.61 8.62 7.03 19.35 +2.8 pt
ROE 7.94 (19.71) (0.76) 10.47 26.45 (0.92) 24.37 28.93 21.47 15.63 53.85 +7.7 pt
People
People Employees 135 128 145 157 84 79 78 88 85 85 — (5.0%)
Revenue/emp, $m 5.59 5.05 5.12 6.10 14.54 9.54 18.44 20.75 25.44 23.19 — +17.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Frontline PLC 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
PAA Plains All American Pipeline, L.P. $17.3B 6.8× 7.2× +66.26% (above 0%: growing) +1,095.24% (above 0%: growing) +50.92% (above 0%: growing) 4.57% 2.25% Compare
WES Western Midstream Partners, LP $16.5B 12.9× 12.5× +25.38% (above 0%: growing) −9.20% (below 0%: shrinking) +44.45% (above 0%: growing) 89.81% 38.65% Compare
VNOM Viper Energy Inc. $14.4B 18.1× 16.7× +58.13% (above 0%: growing) n/m +57.25% (above 0%: growing) 100.00% 60.36% Compare
DTM DT Midstream, Inc. $11.5B 24.4× 26.7× +7.01% (above 0%: growing) +4.92% (above 0%: growing) +40.46% (above 0%: growing) 100.00% 48.51% Compare
FRO Frontline PLC $10.0B 6.7× 5.4× +112.25% (above 0%: growing) +745.71% (above 0%: growing) +155.42% (above 0%: growing) 74.15% 65.92%
AM Antero Midstream Corporation $9.1B 13.4× 15.8× +10.92% (above 0%: growing) +244.92% (above 0%: growing) +232.64% (above 0%: growing) 74.54% 170.39% Compare
KNTK Kinetik Holdings Inc. $8.0B 16.3× 38.9× +22.72% (above 0%: growing) +766.67% (above 0%: growing) +692.49% (above 0%: growing) 34.67% 11.19% Compare
SOBO South Bow Corporation $6.6B 14.4× 19.5× +4.20% (above 0%: growing) +39.13% (above 0%: growing) +48.75% (above 0%: growing) 55.68% 48.90% Compare
HESM Hess Midstream Partners LP $6.3B 10.5× 10.5× −2.57% (below 0%: shrinking) +1.35% (above 0%: growing) +35.38% (above 0%: growing) 100.00% 63.98% Compare
Median of peers $10.3B 13.9× 16.3× +16.82% +39.13% +49.83% 82.18% 48.71%

All 57 Oil & Gas Midstream stocks →

Frontline PLC (FRO) Latest News

22 Sep

Impact 4 · · Simply Wall St.
Impact 3 · · Simply Wall St.

17 Sep

Impact 3 ·

30 Aug

Impact 4 ·

29 Aug

Impact 4 ·

28 Aug

Impact 4 ·
Impact 4 ·
Impact 3 · · The Motley Fool transcript
Impact 3 ·
Impact 3 · · Moby
Impact 3 · · MarketBeat
Impact 3 ·

1 Jul

Impact 3 ·

12 Jun

Impact 3 ·

25 May

Impact 3 · · The Motley Fool transcript

23 May

Impact 3 · · Moby transcript

22 May

Impact 4 · · GuruFocus.com
Impact 4 · · GlobeNewswire earnings
Impact 3 · · MarketBeat

12 May

Impact 4 · · Investor's Business Daily

20 Apr

Impact 3 ·

17 Apr

Impact 3 · · Investing.com

11 Apr

Impact 3 · · 24/7 Wall St.

6 Apr

Impact 3 · · Moby

4 Apr

Impact 4 · · 24/7 Wall St.

22 Mar

Impact 4 · · Barchart

11 Mar

Impact 4 · · Simply Wall St.

10 Mar

Impact 3 · · Simply Wall St.

9 Mar

Impact 4 · · Insider Monkey

28 Feb

Impact 4 · · Simply Wall St.

FRO metrics, ten years each

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