Stock FRO FRONTLINE PLC
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Financials Frontline plc Oslo Bors

Equities

FRO

CY0200352116

Oil & Gas Transportation Services

Market Closed - Oslo Bors
Other stock markets
 08:15:00 03/05/2024 pm IST 		5-day change 1st Jan Change
267.1 NOK +0.41% Intraday chart for Frontline plc +6.16% +31.64%
21/03 Jefferies Upgrades Frontline to Buy From Hold, Adjusts Price Target to $30 From $22 MT
29/02 Sector Update: Energy Stocks Edge Higher Premarket Thursday MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,532 1,230 1,439 2,703 4,464 5,508 - -
Enterprise Value (EV) 1 4,410 3,245 3,688 4,606 7,607 8,578 8,144 7,604
P/E ratio 16.5 x 2.98 x -118 x 5.49 x 6.8 x 7.12 x 6.65 x 8 x
Yield 3.89% 25.7% - 10% 10.8% 10.7% 13.7% 13.2%
Capitalization / Revenue 4.51 x 1.42 x 4.03 x 3.28 x 3.77 x 3.37 x 3.19 x 3.22 x
EV / Revenue 7.85 x 3.74 x 10.3 x 5.58 x 6.43 x 5.25 x 4.72 x 4.44 x
EV / EBITDA 11.9 x 5.02 x 23.1 x 7.89 x 7.78 x 6.53 x 6.13 x 5.51 x
EV / FCF 49.2 x -27 x -12.3 x 93 x -9.81 x 25.3 x 7.55 x 7.51 x
FCF Yield 2.03% -3.71% -8.14% 1.08% -10.2% 3.96% 13.2% 13.3%
Price to Book 1.68 x 0.76 x 0.87 x 1.15 x 1.96 x 2.66 x 2.49 x 3.07 x
Nbr of stocks (in thousands) 1,96,894 1,97,692 2,03,531 2,22,623 2,22,623 2,22,623 - -
Reference price 2 12.86 6.220 7.070 12.14 20.05 24.74 24.74 24.74
Announcement Date 27/02/20 19/02/21 17/02/22 28/02/23 29/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 561.8 868.1 356.7 824.7 1,184 1,635 1,725 1,712
EBITDA 1 369.2 646.6 160 583.8 977.6 1,313 1,328 1,380
EBIT 1 251.3 507.8 12.22 445.6 746.7 994.2 1,018 1,033
Operating Margin 44.73% 58.5% 3.42% 54.04% 63.08% 60.79% 59.02% 60.32%
Earnings before Tax (EBT) 1 140.3 413 -6.515 475.9 656.6 737.2 745.1 696.2
Net income 1 139.9 412.9 -11.15 472.7 656.4 729.1 738.8 688.9
Net margin 24.9% 47.56% -3.13% 57.32% 55.46% 44.58% 42.82% 40.24%
EPS 2 0.7800 2.090 -0.0600 2.210 2.950 3.473 3.721 3.094
Free Cash Flow 1 89.62 -120.3 -300.1 49.52 -775.2 339.5 1,078 1,012
FCF margin 15.95% -13.85% -84.14% 6% -65.5% 20.76% 62.48% 59.12%
FCF Conversion (EBITDA) 24.27% - - 8.48% - 25.86% 81.21% 73.31%
FCF Conversion (Net income) 64.06% - - 10.47% - 46.57% 145.91% 146.91%
Dividend per Share 2 0.5000 1.600 - 1.220 2.170 2.659 3.400 3.266
Announcement Date 27/02/20 19/02/21 17/02/22 28/02/23 29/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 68.96 100.7 103.8 159.2 208.8 352.8 338.5 512.8 232 256.9 370.7 351.4 331.3 473.7 399.4
EBITDA 1 17.94 57.02 53.52 99.27 148.4 286.9 282.1 310.1 173 198.1 316.4 280.3 270.5 367.1 313.8
EBIT 1 -19.24 18.43 22.93 62.9 110.6 249.2 240.9 253 114.8 138 239.6 201.3 190 297.8 231.8
Operating Margin -27.9% 18.31% 22.09% 39.52% 52.95% 70.63% 71.16% 49.33% 49.45% 53.74% 64.64% 57.29% 57.37% 62.86% 58.04%
Earnings before Tax (EBT) 1 -33.19 24.44 31.14 47.12 154.6 243.1 199.4 230.8 107.7 118.6 180.3 132.8 118 220.8 195.8
Net income 1 -33.21 19.78 31.15 47.1 154.4 240 199.6 230.7 107.7 118.4 215.4 141.7 137 259.3 172.9
Net margin -48.15% 19.65% 30.01% 29.59% 73.93% 68.03% 58.97% 44.99% 46.43% 46.08% 58.11% 40.31% 41.35% 54.74% 43.29%
EPS 2 -0.1700 0.1000 0.1500 0.2300 0.6900 1.080 0.9000 1.040 0.4800 0.5300 0.8842 0.7858 0.8327 1.371 0.5700
Dividend per Share 2 - - - 0.1500 - 0.7700 0.7000 0.8000 0.3000 0.3700 0.5572 0.6461 0.7338 1.388 -
Announcement Date 29/11/21 17/02/22 24/05/22 25/08/22 30/11/22 28/02/23 31/05/23 24/08/23 30/11/23 29/02/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,878 2,015 2,249 1,903 3,143 3,071 2,636 2,096
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.087 x 3.116 x 14.06 x 3.259 x 3.215 x 2.339 x 1.986 x 1.519 x
Free Cash Flow 1 89.6 -120 -300 49.5 -775 340 1,078 1,012
ROE (net income / shareholders' equity) 10.5% 26.4% -0.68% 24.2% 28.9% 33.2% 39.6% 44.2%
ROA (Net income/ Total Assets) 4.13% 10.8% -0.28% 10.7% 12.3% 11% 9.67% 8.22%
Assets 1 3,386 3,808 4,018 4,438 5,326 6,609 7,640 8,384
Book Value Per Share 2 7.670 8.150 8.120 10.60 10.20 9.290 9.920 8.070
Cash Flow per Share 2 1.560 3.050 0.3200 1.800 3.850 4.200 4.060 -
Capex 1 196 724 462 336 1,631 899 21.5 24
Capex / Sales 34.88% 83.44% 129.64% 40.72% 137.84% 54.94% 1.25% 1.4%
Announcement Date 27/02/20 19/02/21 17/02/22 28/02/23 29/02/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Frontline plc

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
8
Last Close Price
24.74 USD
Average target price
29.54 USD
Spread / Average Target
+19.41%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Sea-Borne Tankers

1st Jan change Capi.
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NANJING TANKER CORPORATION Stock Nanjing Tanker Corporation
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+7.40% 1.92B
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-2.19% 1.73B
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-8.47% 1.43B
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+46.44% 1.21B
NAVIGATOR HOLDINGS LTD. Stock Navigator Holdings Ltd.
+5.91% 1.11B
Sea-Borne Tankers
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