Frontline (FRO) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Mar 27, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FRO SEC filings page.
Frontline (FRO) reported $2.0B in revenue for fiscal year 2025. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Cash generation outpaces reported earnings, while minimal reinvestment leaves much of operating output available for uses beyond maintenance.
In FY2025, operating cash flow of$682M exceeded net income of$379M ; that gap indicates cash conversion was aided by noncash or working-capital movements. Free cash flow was$670M after just$12.5M of capital expenditures, so the cash profile was not being absorbed by reinvestment.
FY2025 revenue was
Total liabilities were
Financial Health Signals
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Frontline's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Frontline's revenue surged 163.0% year-over-year to $2.0B, reflecting rapid business expansion. This strong growth earns a score of 99/100.
Frontline carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 92/100, indicating a strong balance sheet with room for future borrowing.
Frontline's current ratio of 1.43 indicates adequate short-term liquidity, earning a score of 55/100. The company can meet its near-term obligations, though with limited headroom.
Frontline converts 34.0% of revenue into free cash flow ($669.9M). This strong cash generation earns a score of 95/100.
Frontline generates a 15.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 20/100. This is up from -0.7% the prior year.
Frontline passes 7 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Frontline generates $1.80 in operating cash flow ($682.5M OCF vs $379.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q1 2023.
Cash & Balance Sheet
Frontline held $119.8M in cash against $1.9B in long-term debt as of Q1 2023.
Not reported for Q1 2023.
Not reported for Q1 2023.
Margins & Returns
None of these metrics is reported for Q1 2023.
Capital Allocation
None of these metrics is reported for Q1 2023.
FRO Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
FRO Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2310-Q | Q3'2210-Q | Q1'2210-Q | Q3'2110-K | Q1'2110-Q | Q3'2010-K | Q1'2010-Q | Q3'1910-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.4B+9.6% | $4.1B+5.1% | $4.0B-1.7% | $3.9B+6.0% | $4.1B+27.9% | $3.7B+20.1% | $3.2B-2.6% | $3.1B-1.8% |
| Current Assets | $573.8M+73.0% | $332.7M-12.0% | $331.6M-29.2% | $378.3M-15.6% | $468.5M+59.5% | $448.5M+45.5% | $293.7M-8.1% | $308.2M-4.2% |
| Cash & Equivalents | $119.8M-14.6% | $113.1M-35.3% | $140.4M-37.5% | $174.7M+0.3% | $224.7M+147.5% | $174.2M+162.1% | $90.8M-21.8% | $66.5M-36.2% |
| Short-Term Investments | $0 | $2.4M-7.7% | $0-100.0% | $2.6M-27.5% | $1.5M+56.9% | $3.6M+335.6% | $978K-10.8% | $836K-95.7% |
| Inventory | $125.2M+70.1% | $80.8M+39.6% | $73.6M+62.6% | $57.9M-13.2% | $45.2M-20.4% | $66.7M-3.1% | $56.8M-18.6% | $68.8M+11.4% |
| Accounts Receivable | $56.7M+22.7% | $63.4M+54.8% | $46.2M-29.9% | $41.0M-35.2% | $65.9M+20.8% | $63.2M+17.2% | $54.6M+48.6% | $54.0M+8.9% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $112.5M0.0% | $112.5M0.0% | $112.5M0.0% | $112.5M0.0% | $112.5M0.0% | $112.5M0.0% | $112.5M0.0% | $112.5M0.0% |
| Total Liabilities | $2.5B+3.8% | $2.5B+6.8% | $2.4B-0.7% | $2.3B+5.4% | $2.4B+22.1% | $2.2B+14.3% | $2.0B-7.8% | $1.9B-1.7% |
| Current Liabilities | $542.8M+27.2% | $292.7M+4.0% | $426.7M-36.0% | $281.4M-66.8% | $666.3M+180.1% | $848.1M+295.9% | $237.9M-0.2% | $214.2M-3.5% |
| Non-Current Liabilities | $1.9B-1.3% | $2.2B+7.2% | $1.9B+12.9% | $2.0B+51.2% | $1.7B+0.2% | $1.3B-21.2% | $1.7B-8.7% | $1.7B-1.4% |
| Long-Term Debt | $1.9B+1.1% | $2.1B+8.0% | $1.9B+14.4% | $2.0B+57.0% | $1.7B+1.8% | $1.3B-22.1% | $1.6B-2.0% | $1.6B+9.8% |
| Total Equity | $1.9B+18.2% | $1.7B+2.5% | $1.6B-3.1% | $1.6B+6.8% | $1.7B+37.1% | $1.5B+29.7% | $1.2B+6.9% | $1.2B-2.0% |
| Retained Earnings | $75.1M+630.5% | -$3.1M-139.0% | $10.3M-83.3% | $8.0M+105.2% | $61.4M+124.2% | -$155.1M+47.4% | -$254.0M+21.3% | -$295.1M-8.3% |
FRO Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
FRO Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
Where Frontline Ranks
Frequently Asked Questions
What is Frontline's annual revenue?
Frontline (FRO) reported $2.0B in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Frontline profitable?
Yes, Frontline (FRO) reported a net income of $379.1M in fiscal year 2025, with a net profit margin of 19.2%.
How much debt does Frontline have?
As of fiscal year 2025, Frontline (FRO) had $251.3M in cash and equivalents against $451K in long-term debt.
What is Frontline's net profit margin?
Frontline (FRO) had a net profit margin of 19.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Frontline's return on equity (ROE)?
Frontline (FRO) has a return on equity of 15.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Frontline's free cash flow?
Frontline (FRO) generated $669.9M in free cash flow during fiscal year 2025. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Frontline's operating cash flow?
Frontline (FRO) generated $682.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Frontline's total assets?
Frontline (FRO) had $5.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Frontline's capital expenditures?
Frontline (FRO) invested $12.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Frontline's current ratio?
Frontline (FRO) had a current ratio of 1.43 as of fiscal year 2025, which is considered adequate.
What is Frontline's debt-to-equity ratio?
Frontline (FRO) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Frontline's return on assets (ROA)?
Frontline (FRO) had a return on assets of 6.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Frontline's P/E ratio?
Frontline (FRO) trades at 27.7x earnings, its market capitalization divided by net income of $379.1M net income, FY2025. The market capitalization is $10.5B as of Sep 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Frontline's price-to-sales ratio?
Frontline (FRO) trades at 5.3x sales, its market capitalization divided by revenue of $2.0B revenue, FY2025. The market capitalization is $10.5B as of Sep 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Frontline's Piotroski F-Score?
Frontline (FRO) has a Piotroski F-Score of 7 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Frontline's earnings high quality?
Frontline (FRO) has an earnings quality ratio of 1.80x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Frontline?
Frontline (FRO) scores 64 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.