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FROFrontline Ltd.
$36.87$8.2B
Overview & Verdict
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FRO logoFrontline Ltd.(FRO)Earnings, Financials & Key Ratios

FRO•NYSE
$36.87
21.7× P/E·Price updated Jul 6, 2026
SectorEnergyIndustryMidstream Oil & GasSub-IndustryMarine Tanker Shipping
AboutFrontline Ltd., 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, 2021, the company operated a fleet of 70 vessels. It is also involved in the charter, purchase, and sale of vessels. The company was founded in 1985 and is based in Hamilton, Bermuda.Show more
  • Revenue$1.97B-4.2%
  • EBITDA$921M-17.8%
  • Net Income$379M-23.5%
  • EPS (Diluted)1.70-23.8%
  • Gross Margin32.77%-4.8%
  • EBITDA Margin46.88%-14.2%
  • Operating Margin30.16%-20.9%
  • Net Margin19.29%-20.2%
  • ROE15.63%-27.2%

FRO Price & Volume

Frontline Ltd. (FRO) stock price & volume — 10-year historical chart

Loading chart...

Frontline Leverages Fleet Expansion Amidst Cyclical Volatility

Investment Thesis • Updated 2026Q1

VerdictNeutral
Growth:Accelerating
Profitability:Strong
Financial:Healthy
Cash Flow:Robust
Primary Risk:Spot market rate volatility

Key Thesis Takeaways

  • Frontline is currently capitalizing on a favorable shipping cycle, evidenced by a 66.9% revenue surge in 2026Q1 as the company scales its modern fleet.
  • While the firm has successfully reduced its debt-to-equity ratio from 1.72 in 2024Q1 to 0.93 in 2026Q1, investors should remain cautious regarding the sustainability of earnings given the high sensitivity to spot market rates.
  • Future performance will likely hinge on the company's ability to balance aggressive capital expenditure, which reached 45.2% of revenue in 2026Q1, with consistent shareholder returns.

Verdict Logic

while the forward P/E of 4.46 suggests potential undervaluation, the extreme volatility in historical EPS growth ranging from -81.5% to 15.7% warrants a cautious approach until long-term rate stability is confirmed.

FRO Growth Metrics

Frontline Ltd. (FRO) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years15.65%
5 Years9.98%
3 Years11.17%
TTM18.51%

Profit CAGR

10 Years9.38%
5 Years-1.69%
3 Years-7.28%
TTM159.99%

EPS CAGR

10 Years2.8%
5 Years-4.05%
3 Years-8.51%
TTM160.26%

Return on Capital

10 Years7.78%
5 Years10.24%
3 Years13.38%
Last Year10.89%

FRO Recent Earnings

Frontline Ltd. (FRO) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 2/12 qtrs (17%)●Beat Revenue 10/12 qtrs (83%)
Q2 2026Latest
May 22, 2026
Metric
Actual
Est
EPS
$2.51+2.9%
$2.44
Rev
$537M-7.4%
$580M
Q1 2026
Feb 27, 2026
Metric
Actual
Est
EPS
$1.03-10.4%
$1.15
Rev
$425M-7.1%
$457M
Q4 2025
Nov 21, 2025
Metric
Actual
Est
EPS
$0.19-28.8%
$0.27
Rev
$433M+65.1%
$262M
Q3 2025
Aug 29, 2025
Metric
Actual
Est
EPS
$0.36-14.3%
$0.42
Rev
$480M+89.5%
$253M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 22, 2026
$2.51vs $2.44+2.9%
$537Mvs $580M-7.4%
Q1 2026Feb 27, 2026
$1.03vs $1.15-10.4%
$425Mvs $457M-7.1%
Q4 2025Nov 21, 2025
$0.19vs $0.27-28.8%
$433Mvs $262M+65.1%
Q3 2025Aug 29, 2025
$0.36vs $0.42-14.3%
$480Mvs $253M+89.5%
Based on last 12 quarters of dataView full earnings history →

Latest FRO News

Recent stock market news and headlines for Frontline Ltd. (FRO)

Business Wire·Jun 30, 2026
BeOne Medicines Announces Positive Phase 3 Results for BRUKINSA in Frontline Mantle Cell Lymphoma

SAN CARLOS, Calif.--(BUSINESS WIRE)---- $ONC #BeOne--BeOne Medicines Ltd. (Nasdaq: ONC; HKEX: 06160; SSE: 688235), a global oncology company, today announced positive topline results from the Phase 3 MANGROVE study (BGB-3111-306; NCT04002297) evaluating foundational BTK inhibitor BRUKINSA® (zanubrutinib) plus rituximab versus bendamustine plus rituximab (BR) in adult patients with previously untreated mantle cell lymphoma (MCL). MANGROVE is the first Phase 3, global, randomized trial to evaluate a BTK inhibito.

GlobeNewsWire·Jun 25, 2026
Mister Car Wash Directs Frontline Engagement to New Heights with Staffbase, Achieving 93% Active User Adoption Across 550+ Locations

NEW YORK, June 25, 2026 (GLOBE NEWSWIRE) -- Mister Car Wash , one of the largest car wash companies in the United States, has successfully transformed its frontline employee experience by partnering with Staffbase , a leading provider of employee communication platforms. Through the launch of its branded app, Mister Connect, the company has established a single source of truth for its 7,000+ employees across more than 550 locations in 23 states.

Benzinga·Jun 18, 2026
Oil Is Heading For Its Worst Week In Months. Why Are Tanker Stocks Still Rising?

The Middle East trade may be entering a new phase. Oil prices have retreated sharply this week as signs of progress in U.S.-Iran talks eased some fears of a broader regional disruption.

GlobeNewsWire·Jun 17, 2026
SPARC AI Strengthens Ukraine Market Entry, Engages CFC Defence to Drive Frontline Adoption of Overwatch and Expand Its Roster of Partnered Drone Manufacturers

SPARC AI engages Ukraine-based CFC Defence to lead its market-entry programme for Overwatch, accelerating drone OEM partnerships and frontline adoption.

Peers Comparison

Key metrics vs top competitors for Frontline Ltd. (FRO)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
FRO logoFROFrontline Ltd.Current
$36.87$8.21B21.69-4.16%19.29%15.63%2.52%
DHT logoDHTDHT Holdings, Inc.
$17.15$2.76B13.09-13.04%58.56%29.14%—
INSW logoINSWInternational Seaways, Inc.
$85.26$4.22B13.69-11.38%55.39%27.13%—
TEN logoTENTsakos Energy Navigation Limited
$35.37$1.07B7.95-0.67%17.71%7.86%—
STNG logoSTNGScorpio Tankers Inc.
$69.53$3.6B9.89-24.58%48.44%15.85%—
NAT logoNATNordic American Tankers Limited
$5.83$1.23B100.52-16.39%16.26%11.76%—

Compare FRO vs Peers

Frontline Ltd. (FRO) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs DHT

Most directly comparable listed peer for FRO.

Scale Benchmark

vs MATX

Larger-name benchmark to compare FRO against a more recognizable public peer.

Peer Set

Compare Top 5

vs DHT, INSW, TEN, STNG

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FRO Frequently Asked Questions

Frontline Ltd. (FRO) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Frontline Ltd.'s revenue?

Frontline Ltd. (FRO) reported $2.25B in revenue for fiscal year 2025. This represents a 1163% increase from $178.2M in 1996.

How fast is Frontline Ltd. growing?

Frontline Ltd. (FRO) saw revenue decline by 4.2% over the past year.

Is FRO profitable?

Yes, Frontline Ltd. (FRO) is profitable, generating $904.9M in net income for fiscal year 2025 (19.3% net margin).

Dividend & Returns
Does FRO pay dividends?

Yes, Frontline Ltd. (FRO) pays a dividend with a yield of 2.52%. This makes it attractive for income-focused investors.

What is FRO's return on equity?

Frontline Ltd. (FRO) has a return on equity (ROE) of 15.6%. This is reasonable for most industries.

What is Frontline Ltd.'s free cash flow?

Frontline Ltd. (FRO) generated $591.9M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in FRO back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →