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FRONTLINE PLC (FRO.OL) Stock Fundamental Analysis

Europe - OSL:FRO - CY0200352116 - Common Stock

220.5 NOK
+3.3 (+1.52%)
Last: 10/8/2025, 1:25:29 PM
Fundamental Rating

5

Taking everything into account, FRO scores 5 out of 10 in our fundamental rating. FRO was compared to 63 industry peers in the Oil, Gas & Consumable Fuels industry. FRO scores excellent on profitability, but there are concerns on its financial health. FRO has a valuation in line with the averages, but on the other hand it scores bad on growth.


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

In the past year FRO was profitable.
FRO had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: FRO reported negative net income in multiple years.
FRO had a positive operating cash flow in 4 of the past 5 years.
FRO.OL Yearly Net Income VS EBIT VS OCF VS FCFFRO.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 500M -500M

1.2 Ratios

With an excellent Return On Assets value of 11.16%, FRO belongs to the best of the industry, outperforming 90.48% of the companies in the same industry.
FRO has a Return On Equity of 28.82%. This is amongst the best in the industry. FRO outperforms 90.48% of its industry peers.
FRO's Return On Invested Capital of 10.50% is fine compared to the rest of the industry. FRO outperforms 79.37% of its industry peers.
FRO had an Average Return On Invested Capital over the past 3 years of 6.11%. This is below the industry average of 10.01%.
The 3 year average ROIC (6.11%) for FRO is below the current ROIC(10.50%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 11.16%
ROE 28.82%
ROIC 10.5%
ROA(3y)6.95%
ROA(5y)7.04%
ROE(3y)16.39%
ROE(5y)16.81%
ROIC(3y)6.11%
ROIC(5y)6.97%
FRO.OL Yearly ROA, ROE, ROICFRO.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 -10 20 -20

1.3 Margins

Looking at the Profit Margin, with a value of 36.42%, FRO belongs to the top of the industry, outperforming 96.83% of the companies in the same industry.
FRO's Profit Margin has improved in the last couple of years.
The Operating Margin of FRO (41.43%) is better than 90.48% of its industry peers.
FRO's Operating Margin has improved in the last couple of years.
FRO has a better Gross Margin (55.88%) than 66.67% of its industry peers.
In the last couple of years the Gross Margin of FRO has grown nicely.
Industry RankSector Rank
OM 41.43%
PM (TTM) 36.42%
GM 55.88%
OM growth 3Y1.92%
OM growth 5Y33.51%
PM growth 3Y2.51%
PM growth 5YN/A
GM growth 3Y-0.13%
GM growth 5Y12.14%
FRO.OL Yearly Profit, Operating, Gross MarginsFRO.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 -20 40 -40 60

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3

2. Health

2.1 Basic Checks

FRO has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
There is no outstanding debt for FRO. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
FRO.OL Yearly Shares OutstandingFRO.OL Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M 200M
FRO.OL Yearly Total Debt VS Total AssetsFRO.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B 4B 5B

2.2 Solvency

Based on the Altman-Z score of 1.71, we must say that FRO is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of FRO (1.71) is comparable to the rest of the industry.
A Debt/Equity ratio of 1.40 is on the high side and indicates that FRO has dependencies on debt financing.
Looking at the Debt to Equity ratio, with a value of 1.40, FRO is doing worse than 79.37% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.4
Debt/FCF N/A
Altman-Z 1.71
ROIC/WACC1.23
WACC8.56%
FRO.OL Yearly LT Debt VS Equity VS FCFFRO.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 1B 2B 3B

2.3 Liquidity

A Current Ratio of 1.78 indicates that FRO should not have too much problems paying its short term obligations.
With a decent Current ratio value of 1.78, FRO is doing good in the industry, outperforming 68.25% of the companies in the same industry.
A Quick Ratio of 1.78 indicates that FRO should not have too much problems paying its short term obligations.
FRO has a Quick ratio of 1.78. This is in the better half of the industry: FRO outperforms 77.78% of its industry peers.
Industry RankSector Rank
Current Ratio 1.78
Quick Ratio 1.78
FRO.OL Yearly Current Assets VS Current LiabilitesFRO.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M

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3

3. Growth

3.1 Past

The earnings per share for FRO have decreased strongly by -47.57% in the last year.
The Earnings Per Share has been growing by 18.25% on average over the past years. This is quite good.
EPS 1Y (TTM)-47.57%
EPS 3YN/A
EPS 5Y18.25%
EPS Q2Q%-41.94%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-13.66%

3.2 Future

FRO is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 22.00% yearly.
FRO is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.15% yearly.
EPS Next Y5.54%
EPS Next 2Y25.92%
EPS Next 3Y22%
EPS Next 5YN/A
Revenue Next Year-14.68%
Revenue Next 2Y0.51%
Revenue Next 3Y7.15%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
FRO.OL Yearly Revenue VS EstimatesFRO.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B
FRO.OL Yearly EPS VS EstimatesFRO.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 1 -1 2 -2 3

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4

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 20.53, FRO is valued on the expensive side.
Based on the Price/Earnings ratio, FRO is valued a bit more expensive than the industry average as 60.32% of the companies are valued more cheaply.
When comparing the Price/Earnings ratio of FRO to the average of the S&P500 Index (27.76), we can say FRO is valued slightly cheaper.
A Price/Forward Earnings ratio of 7.86 indicates a rather cheap valuation of FRO.
Based on the Price/Forward Earnings ratio, FRO is valued a bit cheaper than 79.37% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of FRO to the average of the S&P500 Index (23.21), we can say FRO is valued rather cheaply.
Industry RankSector Rank
PE 20.53
Fwd PE 7.86
FRO.OL Price Earnings VS Forward Price EarningsFRO.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

The rest of the industry has a similar Enterprise Value to EBITDA ratio as FRO.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 8.18
FRO.OL Per share dataFRO.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 -20 40 60 80 100

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates FRO does not grow enough to justify the current Price/Earnings ratio.
The excellent profitability rating of FRO may justify a higher PE ratio.
FRO's earnings are expected to grow with 22.00% in the coming years. This may justify a more expensive valuation.
PEG (NY)3.71
PEG (5Y)1.13
EPS Next 2Y25.92%
EPS Next 3Y22%

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6

5. Dividend

5.1 Amount

FRO has a Yearly Dividend Yield of 4.76%, which is a nice return.
FRO's Dividend Yield is a higher than the industry average which is at 57.51.
Compared to an average S&P500 Dividend Yield of 2.44, FRO pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.76%

5.2 History

On average, the dividend of FRO grows each year by 78.57%, which is quite nice.
Dividend Growth(5Y)78.57%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

97.34% of the earnings are spent on dividend by FRO. This is not a sustainable payout ratio.
The dividend of FRO is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP97.34%
EPS Next 2Y25.92%
EPS Next 3Y22%
FRO.OL Yearly Income VS Free CF VS DividendFRO.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 500M -500M
FRO.OL Dividend Payout.FRO.OL Dividend Payout, showing the Payout Ratio.FRO.OL Dividend Payout.PayoutRetained Earnings

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FRONTLINE PLC

OSL:FRO (10/8/2025, 1:25:29 PM)

220.5

+3.3 (+1.52%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)08-29 2025-08-29/bmo
Earnings (Next)11-28 2025-11-28/amc
Inst Owners33.37%
Inst Owner ChangeN/A
Ins Owners0.15%
Ins Owner ChangeN/A
Market Cap49.09B
Analysts85
Price Target240.98 (9.29%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.76%
Yearly Dividend19.4
Dividend Growth(5Y)78.57%
DP97.34%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-10.31%
Min EPS beat(2)-20.35%
Max EPS beat(2)-0.27%
EPS beat(4)1
Avg EPS beat(4)-4.86%
Min EPS beat(4)-20.35%
Max EPS beat(4)11.91%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)50.92%
Min Revenue beat(2)49.69%
Max Revenue beat(2)52.15%
Revenue beat(4)3
Avg Revenue beat(4)36.61%
Min Revenue beat(4)-6.31%
Max Revenue beat(4)52.15%
Revenue beat(8)7
Avg Revenue beat(8)55.14%
Revenue beat(12)11
Avg Revenue beat(12)69.68%
Revenue beat(16)15
Avg Revenue beat(16)62.23%
PT rev (1m)-2.28%
PT rev (3m)-12.49%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 20.53
Fwd PE 7.86
P/S 2.74
P/FCF N/A
P/OCF 5.76
P/B 2.17
P/tB 2.28
EV/EBITDA 8.18
EPS(TTM)10.74
EY4.87%
EPS(NY)28.07
Fwd EY12.73%
FCF(TTM)-34.63
FCFYN/A
OCF(TTM)38.25
OCFY17.35%
SpS80.51
BVpS101.76
TBVpS96.74
PEG (NY)3.71
PEG (5Y)1.13
Profitability
Industry RankSector Rank
ROA 11.16%
ROE 28.82%
ROCE 13.64%
ROIC 10.5%
ROICexc 11.15%
ROICexgc 11.39%
OM 41.43%
PM (TTM) 36.42%
GM 55.88%
FCFM N/A
ROA(3y)6.95%
ROA(5y)7.04%
ROE(3y)16.39%
ROE(5y)16.81%
ROIC(3y)6.11%
ROIC(5y)6.97%
ROICexc(3y)6.65%
ROICexc(5y)7.49%
ROICexgc(3y)6.82%
ROICexgc(5y)7.72%
ROCE(3y)7.93%
ROCE(5y)9.05%
ROICexcg growth 3Y1.14%
ROICexcg growth 5Y40.31%
ROICexc growth 3Y1.52%
ROICexc growth 5Y40.86%
OM growth 3Y1.92%
OM growth 5Y33.51%
PM growth 3Y2.51%
PM growth 5YN/A
GM growth 3Y-0.13%
GM growth 5Y12.14%
F-Score6
Asset Turnover0.31
Health
Industry RankSector Rank
Debt/Equity 1.4
Debt/FCF N/A
Debt/EBITDA 3.27
Cap/Depr 706.42%
Cap/Sales 90.52%
Interest Coverage 4.52
Cash Conversion 87.58%
Profit Quality N/A
Current Ratio 1.78
Quick Ratio 1.78
Altman-Z 1.71
F-Score6
WACC8.56%
ROIC/WACC1.23
Cap/Depr(3y)407.55%
Cap/Depr(5y)305.25%
Cap/Sales(3y)58.57%
Cap/Sales(5y)42.36%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-47.57%
EPS 3YN/A
EPS 5Y18.25%
EPS Q2Q%-41.94%
EPS Next Y5.54%
EPS Next 2Y25.92%
EPS Next 3Y22%
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-13.66%
Revenue Next Year-14.68%
Revenue Next 2Y0.51%
Revenue Next 3Y7.15%
Revenue Next 5YN/A
EBIT growth 1Y72.52%
EBIT growth 3Y16.04%
EBIT growth 5Y59.42%
EBIT Next Year43.81%
EBIT Next 3Y16.55%
EBIT Next 5Y13.42%
FCF growth 1Y-1665.67%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y122.19%
OCF growth 3Y12.33%
OCF growth 5Y79.32%