FRO
Frontline Ltd
NYSE: FRO · ENERGY · OIL & GAS MIDSTREAM
$36.28
+0.47% today
Updated 2026-04-29
Market cap
$8.08B
P/E ratio
21.34
P/S ratio
4.11x
EPS (TTM)
$1.70
Dividend yield
4.85%
52W range
$15 – $39
Volume
4.2M
Frontline Ltd (FRO) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.58B | $1.42B | $2.25B | $1.12B | $1.17B | $723.50M | $578.36M | $517.19M | $241.83M | $458.93M | $754.31M | $646.33M | $742.27M | $957.32M | $1.22B | $749.38M | $1.43B | $1.80B | $2.05B | $1.97B |
| Revenue growth (YoY) | — | -10.5% | +58.4% | -50.3% | +4.4% | -37.9% | -20.1% | -10.6% | -53.2% | +89.8% | +64.4% | -14.3% | +14.8% | +29.0% | +27.6% | -38.6% | +90.9% | +26.0% | +13.8% | -4.2% |
| Cost of revenue | $620.88M | $605.58M | $805.95M | $595.26M | $825.79M | $692.15M | $533.12M | $513.59M | $185.16M | $270.06M | $490.05M | $556.51M | $652.21M | $678.81M | $684.49M | $722.15M | $945.88M | $1.03B | $1.34B | $1.32B |
| Gross profit | $962.99M | $812.52M | $1.44B | $520.96M | $339.43M | $31.35M | $45.24M | $3.60M | $56.67M | $188.88M | $264.26M | $89.81M | $90.06M | $278.51M | $536.70M | $27.23M | $484.33M | $776.11M | $705.68M | $644.05M |
| Gross margin | 60.8% | 57.3% | 64.1% | 46.7% | 29.1% | 4.3% | 7.8% | 0.7% | 23.4% | 41.2% | 35.0% | 13.9% | 12.1% | 29.1% | 43.9% | 3.6% | 33.9% | 43.1% | 34.4% | 32.8% |
| R&D | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| SG&A | $57.07M | $56.87M | $220.17M | $169.50M | $62.45M | $35.89M | $56.36M | $31.63M | $4.94M | $10.58M | $37.03M | $37.60M | $37.29M | $45.02M | $58.81M | $26.42M | $47.37M | $53.53M | $36.09M | $51.37M |
| Operating income | $822.58M | $519.19M | $850.48M | $223.04M | $307.91M | $-406.78M | $18.91M | $-100.43M | $120.71M | $287.22M | $177.48M | $-196.27M | $82.71M | $239.52M | $507.80M | $8.47M | $445.62M | $746.67M | $781.71M | $592.68M |
| Operating margin | 51.9% | 36.6% | 37.9% | 20.0% | 26.4% | -56.2% | 3.3% | -19.4% | 49.9% | 62.6% | 23.5% | -30.4% | 11.1% | 25.0% | 41.6% | 1.1% | 31.2% | 41.4% | 38.1% | 30.2% |
| EBITDA | $300.34M | $930.58M | $1.11B | $505.42M | $528.43M | $-191.65M | $138.63M | $1.49M | $177.36M | $327.68M | $317.62M | $-50.56M | $210.23M | $357.25M | $629.55M | $211.34M | $739.83M | $1.07B | $1.14B | $921.14M |
| EBITDA margin | 19.0% | 65.6% | 49.4% | 45.3% | 45.4% | -26.5% | 24.0% | 0.3% | 73.3% | 71.4% | 42.1% | -7.8% | 28.3% | 37.3% | 51.6% | 28.2% | 51.7% | 59.2% | 55.8% | 46.9% |
| EBIT | $96.49M | $708.53M | $885.19M | $266.82M | $314.14M | $-394.17M | $23.24M | $-98.88M | $144.84M | $273.16M | $174.55M | $-194.22M | $85.19M | $234.75M | $485.15M | $51.18M | $574.66M | $835.12M | $805.58M | $592.68M |
| Interest expense | $200.40M | $204.53M | $183.93M | $160.99M | $149.92M | $136.04M | $94.09M | $90.72M | $7.42M | $17.62M | $56.69M | $69.81M | $93.28M | $94.46M | $72.16M | $61.51M | $98.71M | $178.50M | $302.32M | $233.23M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $516.00M | $570.42M | $698.77M | $102.70M | $161.41M | $-529.60M | $-82.75M | $-188.51M | $149.47M | $154.62M | $117.01M | $-264.86M | $-8.88M | $139.97M | $412.88M | $-14.96M | $475.54M | $656.41M | $495.58M | $379.08M |
| Net income growth (YoY) | — | +10.5% | +22.5% | -85.3% | +57.2% | -428.1% | +84.4% | -127.8% | +179.3% | +3.4% | -24.3% | -326.4% | +96.6% | +1676.3% | +195.0% | -103.6% | +3278.5% | +38.0% | -24.5% | -23.5% |
| Profit margin | 32.6% | 40.2% | 31.1% | 9.2% | 13.9% | -73.2% | -14.3% | -36.4% | 61.8% | 33.7% | 15.5% | -41.0% | -1.2% | 14.6% | 33.8% | -2.0% | 33.2% | 36.4% | 24.2% | 19.3% |