Frontline Ltd. (FRO) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 382.5M | 283.35M | 107.63M | 153.55M | 137.93M | 167.85M | 164.55M | 232.68M | 171.33M | 100.5M | 71.44M | 283.14M | 262.72M | 219.75M | 68.64M | 65.17M | 17.34M | 25.24M | -3.52M | 29.22M |
| Operating CF Margin % | 53.55% | 45.37% | 24.88% | 31.98% | 32.24% | 39.43% | 33.56% | 41.85% | 29.62% | 24.22% | 18.94% | 55.22% | 52.83% | 41.45% | 17.96% | 21.69% | 7.97% | 11.82% | -2.05% | 17.18% |
| Operating CF Growth % | 177.32% | 68.81% | -34.59% | -34.01% | -19.5% | 67.02% | 130.35% | -17.82% | -34.78% | -54.27% | 4.08% | 334.47% | 1415.26% | 770.72% | 2047.15% | 123.06% | 44.47% | -4.63% | -102.67% | -87.87% |
| Net Income | 559.12M | 227.93M | 40.32M | 0 | 0 | 66.73M | 60.46M | 187.57M | 180.82M | 118.37M | 156.24M | 230.67M | 199.63M | 240.03M | 154.44M | 47.1M | 31.15M | 19.78M | -33.21M | -26.63M |
| Depreciation & Amortization | 76M | 82.2M | 82.83M | 0 | 0 | 83.15M | 84.16M | 83.71M | 88.01M | 60.02M | 41.51M | 57.1M | 55.55M | 40.49M | 39.23M | 37.51M | 38.97M | 40.05M | 38.57M | 37.42M |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11.25M | 0 | 0 | 0 | 4.7M | 0 | 0 | 0 | 185K | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -4.7M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -252.62M | -26.78M | -15.52M | 153.55M | 137.93M | 17.97M | 8.95M | -51M | 145.5M | 91.69M | -65.34M | 3.4M | 428K | -21.12M | -68.38M | -3.7M | -33.7M | -13.26M | -4.73M | -3.3M |
| Working Capital Changes | 0 | 0 | 0 | 0 | 0 | 39.86M | 10.99M | 12.39M | -66.97M | -49.54M | -60.97M | -8.03M | 7.12M | -39.65M | -56.65M | -15.74M | -19.08M | -21.34M | -4.15M | 21.73M |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10.85M | 0 | 0 | 0 | -131.73M | 0 | 0 | 0 | -26.24M | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -28.25M | 0 | 0 | 0 | -26.41M | 0 | 0 | 0 | -22.93M | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | 506.13M | -6.89M | 33.91M | -1.94M | -105K | 45.18M | -2.43M | 198.92M | -725.06M | -1.23B | -85.83M | 41.04M | -42.9M | -79.25M | -80.58M | -148.45M | 68.81M | -142.76M | -54.85M | -123.93M |
| Capital Expenditures | -323.04M | -6.89M | -3.24M | -1.94M | -466K | -4.32M | -2.43M | -9.43M | -899.06M | -1.48B | -84.33M | -2.57M | -150.71M | -79.25M | -79.08M | -148.45M | -11.19M | -225.57M | -36.85M | -137.65M |
| CapEx % of Revenue | 45.23% | 1.1% | 0.75% | 0.4% | 0.11% | 1.02% | 0.5% | 1.7% | 155.44% | 356.12% | 22.36% | 0.5% | 30.3% | 14.95% | 20.69% | 49.41% | 5.14% | 105.63% | 21.45% | 80.96% |
| Acquisitions | 827.29M | 0 | 37.15M | 0 | 0 | 49.5M | 0 | 208.35M | 174M | 0 | -1.5M | 43.61M | 8.69M | 0 | -1.5M | 0 | 80M | 2.81M | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 49.5M | 0 | 208.35M | 174M | 251.84M | 0 | 43.61M | 99.13M | 0 | -1.5M | 0 | 80M | 80M | -18M | 13.72M |
| Cash from Financing | -669.22M | -214.54M | -428.84M | -111.43M | -114.81M | -120.38M | -200.47M | -369.71M | 542.75M | 1.15B | 21.94M | -242.72M | -248.98M | -13.33M | 19.49M | 91.92M | -88.05M | 108.54M | 38.93M | 82.43M |
| Debt Issued (Net) | -439.92M | -172.24M | -348.69M | -71.36M | -70.09M | -44.69M | -62.2M | -231.45M | 625.13M | 1.22B | -45.64M | -86.89M | -10.78M | 19.6M | 21.94M | 92.71M | -88.11M | 61.7M | 39.25M | 83.47M |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 684K | 0 |
| Dividends Paid | -229.3M | -42.3M | -80.14M | -40.07M | -44.52M | -75.69M | -138.03M | -138.03M | -82.37M | -66.79M | -178.1M | -155.84M | -238.21M | -33.39M | -178.1M | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 0 | 0 | 0 | -197K | -226K | -242K | -233K | 0 | -231K | 0 | 0 | 0 | 463K | 175.65M | 0 | 57K | 46.84M | -1.01M | -1.04M |
| Net Change in Cash | 219.41M | 61.92M | -287.29M | 40.18M | 23.01M | 92.65M | -38.35M | 61.88M | -10.97M | 22.94M | 7.54M | 81.46M | -29.16M | 127.17M | 7.54M | 8.64M | -1.9M | -8.98M | -19.45M | -12.29M |
| Free Cash Flow | 59.45M | 276.46M | 104.4M | 151.61M | 137.46M | 163.53M | 162.12M | 223.24M | -727.73M | -1.38B | -12.89M | 280.57M | 112M | 140.5M | -10.44M | -83.28M | 6.15M | -200.33M | -40.38M | -108.43M |
| FCF Margin % | 8.32% | 44.27% | 24.13% | 31.58% | 32.13% | 38.42% | 33.06% | 40.15% | -125.82% | -331.9% | -3.42% | 54.72% | 22.52% | 26.5% | -2.73% | -27.72% | 2.83% | -93.81% | -23.5% | -63.78% |
| FCF Growth % | -56.75% | 69.06% | -35.6% | -32.09% | 118.89% | 111.87% | 1357.61% | -20.43% | -749.74% | -1080.38% | -23.48% | 436.91% | 1720.58% | 170.13% | 74.14% | 23.2% | 119.03% | -1226.47% | -139.89% | -194.17% |
| FCF per Share | 0.27 | 1.24 | 0.47 | 0.68 | 0.62 | 0.73 | 0.73 | 1.00 | -3.27 | -6.19 | -0.06 | 1.26 | 0.50 | 0.63 | -0.05 | -0.41 | 0.03 | -1.01 | -0.21 | -0.53 |
| FCF Conversion (FCF/Net Income) | 0.68x | 1.24x | 2.67x | 1.98x | 4.14x | 2.52x | 2.72x | 1.24x | 0.95x | 0.85x | 0.66x | 1.23x | 1.32x | 0.90x | 0.44x | 1.27x | 0.60x | 1.28x | 0.11x | -1.10x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |