Frontline plc FRO
Oslo Børs · Energy · Oil & Gas Midstream
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Annual accounts for Frontline
| USD million | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Income statement | ||||
| Revenue | 1,430 | 1,802 | 2,050 | 1,965 |
| EBITDA | 740 | 1,066 | 1,145 | 945 |
| Net income | 476 | 656 | 496 | 379 |
| Balance sheet | ||||
| Equity | 2,260 | 2,278 | 2,341 | 2,511 |
| Total debt | 2,394 | 3,459 | 3,746 | 3,068 |
| Cash | 255 | 308 | 414 | 251 |
| Net debt | 2,139 | 3,151 | 3,332 | 2,816 |
| Ratios and per share | ||||
| EBITDA margin | 51.7% | 59.2% | 55.8% | 48.1% |
| Profit margin | 33.2% | 36.4% | 24.2% | 19.3% |
| Return on equity | 21.0% | 28.8% | 21.2% | 15.1% |
| Earnings/share (USD) | 2.14 | 2.95 | 2.23 | 1.70 |
| Book value/share (USD) | 10.15 | 10.23 | 10.51 | 11.28 |
| Shares outstanding (M) | 223 | 223 | 223 | 223 |
From the annual statements (Yahoo Finance), in the currency the company reports in. Per-share figures use the shares at the year end. Charts and annual figures →
Quarterly figures from the reports
BetaFrom the company's own reports: 11 reports read by AI, every figure checked against the report's page and arithmetic.
Source: the FOURTH QUARTER 2025 report, page 11, published 2026-02-27.
| Quarter | Revenue | Operating profit | Profit | EPS | Adj. EPS | Source |
|---|---|---|---|---|---|---|
| Q4 2025 | 624 | 130 | 67 | 0.30 | … | FOURTH QUARTER 2025, p. 11 |
| Q3 2025 | 433 | 145 | 60 | 0.27 | … | Third Quarter 2025, p. 11 |
| Q2 2025 | 480 | 256 | 188 | 0.84 | … | Second Quarter 2025, p. 11 |
| Q1 2025 | 428 | – | 33 | 0.15 | … | Q1 2025, p. 11 |
| Q4 2024 | 426 | 130 | 118 | 0.30 | … | Q1 2025, p. 11 |
| Q3 2024 | 490 | 145 | 60 | 0.27 | … | Third Quarter 2024, p. 12 |
| Q2 2024 | 358 | 132 | 188 | 0.62 | … | Q2 2024, p. 16 |
| Q1 2024 | 371 | – | 181 | 0.62 | … | Q2 2024, p. 16 |
| Q4 2023 | 257 | 95 | 118 | 0.46 | … | Q2 2024, p. 16 |
| Q3 2023 | 377 | 115 | 108 | 0.48 | … | Third Quarter 2024, p. 12 |
Amounts in USD million, EPS in USD. Each quarter as first reported, as a backtest would have seen it. Adjusted EPS (without one-off items) is shown once the one-off items have been checked against the companies' own adjusted figures.
One-off items in the reports
- 2026-06-30 debt extinguishment losses and losses on marketable securities: +0.1 USD million (Second Quarter 2026, p. 3)
- 2026-06-30 share of results of associated companies: +12.4 USD million (Second Quarter 2026, p. 3)
- 2026-06-30 gain on sale of vessels: +54.7 USD million (Second Quarter 2026, p. 3)
- 2026-06-30 unrealised gain on derivatives: +0.3 USD million (Second Quarter 2026, p. 3)
- 2026-06-30 dividends received: +6.4 USD million (Second Quarter 2026, p. 3)
- 2026-06-30 synthetic option revaluation gain: +5.3 USD million (Second Quarter 2026, p. 3)
- 2025-12-31 Debt extinguishment losses: +0.3 USD million (FOURTH QUARTER 2025, p. 15)
- 2025-12-31 Gain on sale of vessels: −6.0 USD million (FOURTH QUARTER 2025, p. 15)
Found by AI and still being validated: hover for the report's own words.
Sign in for free to open each report on the page a figure comes from.
Extracted by an AI model from the reports and can be wrong. Not investment advice.
Key figures
| P/E | 26.4 |
| P/B | 4.0 |
| EV / EBITDA | 13.6 |
| Net debt / EBITDA | 3.0 |
| Return on equity | 15.1% |
| Profit margin | 19.3% |
| Beta 1Y | 0.60 |
| Revenue growth 1Y | −4.2% |
| Revenue CAGR 3Y | +11.2% |
| Earnings/share CAGR 3Y | −7.3% |
| ROE avg. 3Y | 21.7% |
Ratios use the latest annual report that was public 90 days after the year end.
Dividends per share (NOK)
| 2026 | 56.90 |
| 2025 | 8.83 |
| 2024 | 18.52 |
| 2023 | 27.26 |
| 2022 | 1.42 |
Not investment advice. Figures may contain errors from the data source.