FRONTLINE PLC (FRO.OL) Stock Fundamental Analysis

Europe • Euronext Oslo • OSL:FRO • CY0200352116

275.2 NOK
+4.8 (+1.78%)
Last: Feb 5, 2026, 04:19 PM
Fundamental Rating

4

Overall FRO gets a fundamental rating of 4 out of 10. We evaluated FRO against 73 industry peers in the Oil, Gas & Consumable Fuels industry. While FRO is still in line with the averages on profitability rating, there are concerns on its financial health. FRO has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

6

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.
  • FRO had positive earnings in 4 of the past 5 years.
  • In the past 5 years FRO always reported a positive cash flow from operatings.
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M

1.2 Ratios

  • FRO's Return On Assets of 3.82% is in line compared to the rest of the industry. FRO outperforms 56.16% of its industry peers.
  • The Return On Equity of FRO (9.37%) is comparable to the rest of the industry.
  • FRO has a better Return On Invested Capital (6.58%) than 63.01% of its industry peers.
  • FRO had an Average Return On Invested Capital over the past 3 years of 9.01%. This is in line with the industry average of 8.73%.
Industry RankSector Rank
ROA 3.82%
ROE 9.37%
ROIC 6.58%
ROA(3y)9.7%
ROA(5y)7.85%
ROE(3y)23.68%
ROE(5y)19.15%
ROIC(3y)9.01%
ROIC(5y)7.45%
FRO.OL Yearly ROA, ROE, ROICFRO.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20 -20

1.3 Margins

  • FRO has a better Profit Margin (12.34%) than 68.49% of its industry peers.
  • In the last couple of years the Profit Margin of FRO has grown nicely.
  • The Operating Margin of FRO (25.52%) is better than 65.75% of its industry peers.
  • In the last couple of years the Operating Margin of FRO has grown nicely.
  • FRO has a Gross Margin (45.19%) which is in line with its industry peers.
  • In the last couple of years the Gross Margin of FRO has grown nicely.
Industry RankSector Rank
OM 25.52%
PM (TTM) 12.34%
GM 45.19%
OM growth 3Y281.28%
OM growth 5Y5.78%
PM growth 3YN/A
PM growth 5Y10.58%
GM growth 3Y25.66%
GM growth 5Y3.8%
FRO.OL Yearly Profit, Operating, Gross MarginsFRO.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 -40 60

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3

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), FRO is creating some value.
  • FRO has about the same amout of shares outstanding than it did 1 year ago.
  • FRO has more shares outstanding than it did 5 years ago.
  • The debt/assets ratio for FRO is higher compared to a year ago.
FRO.OL Yearly Shares OutstandingFRO.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M
FRO.OL Yearly Total Debt VS Total AssetsFRO.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

2.2 Solvency

  • An Altman-Z score of 1.83 indicates that FRO is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • FRO has a Altman-Z score of 1.83. This is comparable to the rest of the industry: FRO outperforms 52.05% of its industry peers.
  • The Debt to FCF ratio of FRO is 5.82, which is a neutral value as it means it would take FRO, 5.82 years of fcf income to pay off all of its debts.
  • FRO's Debt to FCF ratio of 5.82 is in line compared to the rest of the industry. FRO outperforms 58.90% of its industry peers.
  • FRO has a Debt/Equity ratio of 1.27. This is a high value indicating a heavy dependency on external financing.
  • FRO's Debt to Equity ratio of 1.27 is on the low side compared to the rest of the industry. FRO is outperformed by 75.34% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.27
Debt/FCF 5.82
Altman-Z 1.83
ROIC/WACC0.75
WACC8.76%
FRO.OL Yearly LT Debt VS Equity VS FCFFRO.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B

2.3 Liquidity

  • FRO has a Current Ratio of 1.37. This is a normal value and indicates that FRO is financially healthy and should not expect problems in meeting its short term obligations.
  • The Current ratio of FRO (1.37) is comparable to the rest of the industry.
  • A Quick Ratio of 1.37 indicates that FRO should not have too much problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 1.37, FRO is in the better half of the industry, outperforming 72.60% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.37
Quick Ratio 1.37
FRO.OL Yearly Current Assets VS Current LiabilitesFRO.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • FRO shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -54.41%.
  • The Earnings Per Share has been growing by 18.25% on average over the past years. This is quite good.
  • The Revenue for FRO has decreased by -13.41% in the past year. This is quite bad
  • FRO shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 16.45% yearly.
EPS 1Y (TTM)-54.41%
EPS 3YN/A
EPS 5Y18.25%
EPS Q2Q%-44.12%
Revenue 1Y (TTM)-13.41%
Revenue growth 3Y39.87%
Revenue growth 5Y16.45%
Sales Q2Q%-11.76%

3.2 Future

  • Based on estimates for the next years, FRO will show a quite strong growth in Earnings Per Share. The EPS will grow by 18.91% on average per year.
  • The Revenue is expected to grow by 2.66% on average over the next years.
EPS Next Y4.31%
EPS Next 2Y31.77%
EPS Next 3Y18.91%
EPS Next 5YN/A
Revenue Next Year-7.03%
Revenue Next 2Y5.25%
Revenue Next 3Y2.66%
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 stable.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
FRO.OL Yearly Revenue VS EstimatesFRO.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B 2B
FRO.OL Yearly EPS VS EstimatesFRO.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 1 2 3

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4

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 30.68, the valuation of FRO can be described as expensive.
  • FRO's Price/Earnings ratio is a bit more expensive when compared to the industry. FRO is more expensive than 69.86% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 28.25. FRO is around the same levels.
  • The Price/Forward Earnings ratio is 9.23, which indicates a very decent valuation of FRO.
  • 83.56% of the companies in the same industry are more expensive than FRO, based on the Price/Forward Earnings ratio.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 27.50, FRO is valued rather cheaply.
Industry RankSector Rank
PE 30.68
Fwd PE 9.23
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

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of FRO indicates a slightly more expensive valuation: FRO is more expensive than 68.49% of the companies listed in the same industry.
  • 75.34% of the companies in the same industry are more expensive than FRO, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 11.4
EV/EBITDA 11.76
FRO.OL Per share dataFRO.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 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 decent profitability rating of FRO may justify a higher PE ratio.
  • FRO's earnings are expected to grow with 18.91% in the coming years. This may justify a more expensive valuation.
PEG (NY)7.12
PEG (5Y)1.68
EPS Next 2Y31.77%
EPS Next 3Y18.91%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. Dividend

5.1 Amount

  • FRO has a Yearly Dividend Yield of 3.29%.
  • FRO's Dividend Yield is comparable with the industry average which is at 5.10.
  • Compared to an average S&P500 Dividend Yield of 1.82, FRO pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.29%

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

  • FRO pays out 110.35% of its income as dividend. This is not a sustainable payout ratio.
  • FRO's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP110.35%
EPS Next 2Y31.77%
EPS Next 3Y18.91%
FRO.OL Yearly Income VS Free CF VS DividendFRO.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 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 (2/5/2026, 4:19:51 PM)

275.2

+4.8 (+1.78%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)11-21
Earnings (Next)04-30
Inst Owners31.42%
Inst Owner ChangeN/A
Ins Owners0.15%
Ins Owner ChangeN/A
Market Cap61.27B
Revenue(TTM)1.77B
Net Income(TTM)217.88M
Analysts87.5
Price Target291.51 (5.93%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.29%
Yearly Dividend18.63
Dividend Growth(5Y)78.57%
DP110.35%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-31.92%
Min EPS beat(2)-38.99%
Max EPS beat(2)-24.85%
EPS beat(4)0
Avg EPS beat(4)-32.45%
Min EPS beat(4)-44.42%
Max EPS beat(4)-21.54%
EPS beat(8)0
Avg EPS beat(8)-21.91%
EPS beat(12)1
Avg EPS beat(12)-17.02%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)56.87%
Min Revenue beat(2)53.65%
Max Revenue beat(2)60.08%
Revenue beat(4)4
Avg Revenue beat(4)51.47%
Min Revenue beat(4)40.16%
Max Revenue beat(4)60.08%
Revenue beat(8)8
Avg Revenue beat(8)47.42%
Revenue beat(12)11
Avg Revenue beat(12)43.12%
Revenue beat(16)15
Avg Revenue beat(16)53.64%
PT rev (1m)-1.89%
PT rev (3m)20.97%
EPS NQ rev (1m)0%
EPS NQ rev (3m)20.15%
EPS NY rev (1m)-0.25%
EPS NY rev (3m)3.67%
Revenue NQ rev (1m)0.83%
Revenue NQ rev (3m)10.9%
Revenue NY rev (1m)0.59%
Revenue NY rev (3m)10.37%
Valuation
Industry RankSector Rank
PE 30.68
Fwd PE 9.23
P/S 3.6
P/FCF 11.4
P/OCF 11.2
P/B 2.73
P/tB 2.87
EV/EBITDA 11.76
EPS(TTM)8.97
EY3.26%
EPS(NY)29.81
Fwd EY10.83%
FCF(TTM)24.13
FCFY8.77%
OCF(TTM)24.56
OCFY8.92%
SpS76.52
BVpS100.75
TBVpS95.88
PEG (NY)7.12
PEG (5Y)1.68
Graham Number142.6
Profitability
Industry RankSector Rank
ROA 3.82%
ROE 9.37%
ROCE 8.55%
ROIC 6.58%
ROICexc 6.83%
ROICexgc 6.99%
OM 25.52%
PM (TTM) 12.34%
GM 45.19%
FCFM 31.54%
ROA(3y)9.7%
ROA(5y)7.85%
ROE(3y)23.68%
ROE(5y)19.15%
ROIC(3y)9.01%
ROIC(5y)7.45%
ROICexc(3y)9.79%
ROICexc(5y)8.02%
ROICexgc(3y)10.03%
ROICexgc(5y)8.24%
ROCE(3y)11.7%
ROCE(5y)9.67%
ROICexgc growth 3Y374.61%
ROICexgc growth 5Y7.27%
ROICexc growth 3Y376.04%
ROICexc growth 5Y7.73%
OM growth 3Y281.28%
OM growth 5Y5.78%
PM growth 3YN/A
PM growth 5Y10.58%
GM growth 3Y25.66%
GM growth 5Y3.8%
F-Score4
Asset Turnover0.31
Health
Industry RankSector Rank
Debt/Equity 1.27
Debt/FCF 5.82
Debt/EBITDA 3.73
Cap/Depr 2.94%
Cap/Sales 0.56%
Interest Coverage 250
Cash Conversion 71.79%
Profit Quality 255.64%
Current Ratio 1.37
Quick Ratio 1.37
Altman-Z 1.83
F-Score4
WACC8.76%
ROIC/WACC0.75
Cap/Depr(3y)393.23%
Cap/Depr(5y)320.76%
Cap/Sales(3y)52.88%
Cap/Sales(5y)47.49%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-54.41%
EPS 3YN/A
EPS 5Y18.25%
EPS Q2Q%-44.12%
EPS Next Y4.31%
EPS Next 2Y31.77%
EPS Next 3Y18.91%
EPS Next 5YN/A
Revenue 1Y (TTM)-13.41%
Revenue growth 3Y39.87%
Revenue growth 5Y16.45%
Sales Q2Q%-11.76%
Revenue Next Year-7.03%
Revenue Next 2Y5.25%
Revenue Next 3Y2.66%
Revenue Next 5YN/A
EBIT growth 1Y-42.95%
EBIT growth 3Y433.29%
EBIT growth 5Y23.18%
EBIT Next Year27.87%
EBIT Next 3Y15.85%
EBIT Next 5YN/A
FCF growth 1Y-24.98%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-42.02%
OCF growth 3Y105.18%
OCF growth 5Y21.32%

FRONTLINE PLC / FRO.OL FAQ

What is the ChartMill fundamental rating of FRONTLINE PLC (FRO.OL) stock?

ChartMill assigns a fundamental rating of 4 / 10 to FRO.OL.


What is the valuation status for FRO stock?

ChartMill assigns a valuation rating of 4 / 10 to FRONTLINE PLC (FRO.OL). This can be considered as Fairly Valued.


Can you provide the profitability details for FRONTLINE PLC?

FRONTLINE PLC (FRO.OL) has a profitability rating of 6 / 10.


Can you provide the PE and PB ratios for FRO stock?

The Price/Earnings (PE) ratio for FRONTLINE PLC (FRO.OL) is 30.68 and the Price/Book (PB) ratio is 2.73.


What is the earnings growth outlook for FRONTLINE PLC?

The Earnings per Share (EPS) of FRONTLINE PLC (FRO.OL) is expected to grow by 4.31% in the next year.