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FRONTLINE PLC (FRO.OL) Stock Fundamental Analysis

OSL:FRO - Euronext Oslo - CY0200352116 - Common Stock - Currency: NOK

187.4  -3.9 (-2.04%)

Fundamental Rating

5

Overall FRO gets a fundamental rating of 5 out of 10. We evaluated FRO against 60 industry peers in the Oil, Gas & Consumable Fuels industry. FRO has an excellent profitability rating, 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

FRO had positive earnings in the past year.
In the past year FRO had a positive cash flow from operations.
In multiple years FRO reported negative net income over the last 5 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

The Return On Assets of FRO (11.16%) is better than 86.67% of its industry peers.
FRO has a Return On Equity of 28.82%. This is amongst the best in the industry. FRO outperforms 86.67% of its industry peers.
FRO has a better Return On Invested Capital (10.50%) than 71.67% of its industry peers.
The Average Return On Invested Capital over the past 3 years for FRO is significantly below the industry average of 14.91%.
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

The Profit Margin of FRO (36.42%) is better than 93.33% of its industry peers.
FRO's Profit Margin has improved in the last couple of years.
The Operating Margin of FRO (41.43%) is better than 86.67% of its industry peers.
FRO's Operating Margin has improved in the last couple of years.
FRO has a Gross Margin of 55.88%. This is in the better half of the industry: FRO outperforms 63.33% of its industry peers.
FRO's Gross Margin has improved in the last couple of years.
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

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so FRO is still creating some value.
FRO has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the 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

FRO has an Altman-Z score of 1.60. This is a bad value and indicates that FRO is not financially healthy and even has some risk of bankruptcy.
FRO has a Altman-Z score (1.60) which 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 81.67% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.4
Debt/FCF N/A
Altman-Z 1.6
ROIC/WACC1.2
WACC8.77%
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

FRO has a Current Ratio of 1.78. This is a normal value and indicates that FRO is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 1.78, FRO is in the better half of the industry, outperforming 61.67% 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.
The Quick ratio of FRO (1.78) is better than 70.00% 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 -43.70% in the last year.
Measured over the past years, FRO shows a quite strong growth in Earnings Per Share. The EPS has been growing by 18.25% on average per year.
EPS 1Y (TTM)-43.7%
EPS 3YN/A
EPS 5Y18.25%
EPS Q2Q%-70.97%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-26.03%

3.2 Future

Based on estimates for the next years, FRO will show a very strong growth in Earnings Per Share. The EPS will grow by 28.73% on average per year.
FRO is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.15% yearly.
EPS Next Y26.53%
EPS Next 2Y30.2%
EPS Next 3Y28.73%
EPS Next 5YN/A
Revenue Next Year-9.35%
Revenue Next 2Y1.83%
Revenue Next 3Y7.15%
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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 2 -2

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6

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 13.81, which indicates a correct valuation of FRO.
FRO's Price/Earnings ratio is in line with the industry average.
FRO is valuated rather cheaply when we compare the Price/Earnings ratio to 27.41, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 6.13 indicates a rather cheap valuation of FRO.
Based on the Price/Forward Earnings ratio, FRO is valued cheaply inside the industry as 86.67% of the companies are valued more expensively.
When comparing the Price/Forward Earnings ratio of FRO to the average of the S&P500 Index (35.19), we can say FRO is valued rather cheaply.
Industry RankSector Rank
PE 13.81
Fwd PE 6.13
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

Based on the Enterprise Value to EBITDA ratio, FRO is valued a bit more expensive than 60.00% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 7.51
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 low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
FRO has an outstanding profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as FRO's earnings are expected to grow with 28.73% in the coming years.
PEG (NY)0.52
PEG (5Y)0.76
EPS Next 2Y30.2%
EPS Next 3Y28.73%

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6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 7.26%, FRO is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 58.69, FRO pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.35, FRO pays a better dividend.
Industry RankSector Rank
Dividend Yield 7.26%

5.2 History

The dividend of FRO is nicely growing with an annual growth rate of 78.57%!
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 2Y30.2%
EPS Next 3Y28.73%
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 (7/14/2025, 4:25:15 PM)

187.4

-3.9 (-2.04%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)05-23 2025-05-23/bmo
Earnings (Next)N/A N/A
Inst Owners30.25%
Inst Owner ChangeN/A
Ins Owners0.15%
Ins Owner ChangeN/A
Market Cap41.72B
Analysts82.86
Price Target275.38 (46.95%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 7.26%
Yearly Dividend19.75
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)-2.19%
PT rev (3m)-6.84%
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 13.81
Fwd PE 6.13
P/S 2.29
P/FCF N/A
P/OCF 4.81
P/B 1.81
P/tB 1.9
EV/EBITDA 7.51
EPS(TTM)13.57
EY7.24%
EPS(NY)30.55
Fwd EY16.3%
FCF(TTM)-35.26
FCFYN/A
OCF(TTM)38.94
OCFY20.78%
SpS81.98
BVpS103.61
TBVpS98.5
PEG (NY)0.52
PEG (5Y)0.76
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 1.6
F-Score6
WACC8.77%
ROIC/WACC1.2
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)-43.7%
EPS 3YN/A
EPS 5Y18.25%
EPS Q2Q%-70.97%
EPS Next Y26.53%
EPS Next 2Y30.2%
EPS Next 3Y28.73%
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-26.03%
Revenue Next Year-9.35%
Revenue Next 2Y1.83%
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 3Y18.76%
EBIT Next 5Y14.92%
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%