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Frontline plc

Frontline plc

NYSE•FRO
CEO: Mr. Lars H. Barstad
Sector: Energy
Industry: Oil & Gas Midstream
Listing Date: 2001-08-06
Frontline plc, a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. It owns and operates oil and product tankers. As of December 31, 2023, the company operated a fleet of 76 vessels. It is also involved in the charter, purchase, and sale of vessels. The company was founded in 1985 and is based in Limassol, Cyprus.
Contact Information
Iris House, 8, John Kennedy Street Off. 740B, Limassol, 3106, Cyprus
357-2-5588767
www.frontlineplc.cy
Market Cap
$5.57B
P/E (TTM)
23.4
18
Dividend Yield
4.3%
52W High
$25.16
52W Low
$12.40
52W Range
99%
3.8
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.8 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q2 2025 Data

Revenue

$480.08M-13.66%
4-Quarter Trend

EPS

$0.35-58.33%
4-Quarter Trend

FCF

$151.61M-32.09%
4-Quarter Trend

2024 Annual Earnings Highlights

Key Highlights

Operating Revenue Increased Total operating revenues reached $2.05B USD, marking a 13.8% increase compared to prior year results.
Fleet Expanded Post-Acquisition Fleet grew to 81 vessels after acquiring 24 VLCCs from CMB.TECH; 75 vessels operated on spot market.
Strong Cash Position Maintained Cash and equivalents increased to $413.5M USD at year-end 2024, providing strong short-term liquidity.
Asset Base Grew Substantially Net book value of vessels and equipment reached $5.25B USD following significant capital additions during 2024.

Risk Factors

Charter Rate Volatility Risk Highly cyclical industry exposes earnings to fluctuating spot market charter rates, impacting profitability and asset values significantly.
Geopolitical Trade Disruption War in Ukraine and Middle East conflicts threaten shipping routes, causing demand uncertainty and operational risks.
Financing Cost Surge Interest expense rose 69.4% to $302.3M USD due to increased debt load from recent vessel acquisitions.
Regulatory Compliance Costs Ongoing environmental regulations, including IMO/EU mandates, require capital expenditure for fleet upgrades and compliance.

Outlook

Modern Energy-Efficient Fleet Strategy focuses on operating modern fleet; 45 vessels are scrubber-fitted, positioning well against environmental laws.
Sufficient Liquidity Forecast Cash on hand and committed facilities expected to fund requirements for at least the next twelve months.
No Newbuilding Commitments No remaining vessels in the newbuilding program or commitments as of December 31, 2024, focusing on existing fleet.
Dividend Payments Continue Board declared $0.20 per share dividend for Q4 2024, though future payments remain at Board discretion.

Peer Comparison

Revenue (TTM)

NOV Inc.NOV
$8.77B
-1.5%
Chord Energy CorporationCHRD
$5.30B
+19.5%
Weatherford International plcWFRD
$4.97B
-10.2%

Gross Margin (Latest Quarter)

Matador Resources CompanyMTDR
187.5%
+143.0 pp
Enphase Energy, Inc.ENPH
47.8%
+1.0 pp
Valvoline Inc.VVV
40.5%
+0.7 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
FRO$5.57B23.410.1%58.7%
NOV$5.40B14.15.9%16.1%
WFRD$5.29B10.336.1%32.2%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-0.7%
Flat Growth
4Q Net Income CAGR
+8.7%
Profitability Improving
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Reports
All Years

  • Form 20-F - FY 2024

    Period End: Dec 31, 2024|Filed: Apr 7, 2025|
    Revenue: $2.05B+14.7%
    |
    EPS: $2.23-24.4%
    Beat

  • Form 20-F - FY 2023

    Period End: Dec 31, 2023|Filed: Apr 26, 2024|
    Revenue: $1.79B+24.9%
    |
    EPS: $2.95+32.9%
    Meet

  • Form 20-F - FY 2022

    Period End: Dec 31, 2022|Filed: Apr 28, 2023|
    Revenue: $1.43B+90.9%
    |
    EPS: $2.22+4064.3%
    Beat

  • Form 20-F - FY 2021

    Period End: Dec 31, 2021|Filed: Mar 17, 2022|
    Revenue: $749.38M-38.6%
    |
    EPS: $-0.06-102.7%
    Beat

  • Form 20-F - FY 2020

    Period End: Dec 31, 2020|Filed: Mar 18, 2021|
    Revenue: $1.22B+27.6%
    |
    EPS: $2.11+160.5%
    Meet