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Flex LNG Ltd. (FLNG)
The export includes the complete available history of financial statements and ratios. Numbers are provided in full, without million or billion abbreviations, in their original reporting units.
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Flex LNG Ltd. Balance Sheet 2025-2011 | FLNG
Brief balance sheet overview of Flex LNG Ltd.
The review uses the five latest available annual reports between 2020 and 2025.
Assets increased +13.9%, from $2.3 billion to $2.6 billion. The business expanded, but without sharp acceleration.
Liability growth of +29.7% exceeded asset growth of +13.9%, increasing reliance on outside funding.
The share of internal funding stands at 27.4% versus 36.2% initially, providing a reasonable foundation.
Net debt to equity is high at 1.95x; refinancing risk and borrowing costs become more important.
Cash represents 17.1% of assets versus 5.6% initially, showing how the immediate liquidity reserve changed.
The accumulated result is -$202.7 million and remains below zero. The number alone does not explain whether losses, dividends or repurchases were the main cause.
Overall assessment
Flex LNG Ltd.'s balance sheet looks stretched: reliance on liabilities and a limited capital cushion increase sensitivity to weaker results.
Annual Balance Sheet Flex LNG Ltd.
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
1.4 B | 1.37 B | 1.4 B | 1.38 B | - | 1.27 B | 650 M | 377 M | 150 M | 5.56 M | 3.28 M | 269 K | -1.52 M | -6.25 M | -14.8 M |
Long Term Debt |
1.74 B | 1.7 B | 1.71 B | 1.62 B | - | 1.34 B | 744 M | 432 M | 160 M | 7 M | 7 M | 7 M | - | - | - |
Long Term Debt Current |
110 M | 107 M | 104 M | 95.5 M | - | 64.5 M | 34.6 M | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
1.74 B | 1.7 B | 1.71 B | 1.62 B | - | 1.34 B | 744 M | 432 M | 160 M | 7 M | 7 M | 7 M | - | - | 29.2 M |
Total Current Liabilities |
166 M | 159 M | 153 M | 153 M | - | 132 M | 57.7 M | 35.5 M | - | - | - | - | - | - | - |
Total Liabilities |
1.9 B | 1.86 B | 1.86 B | 1.77 B | - | 1.47 B | 802 M | 467 M | 164 M | 8.19 M | 7.61 M | 7.84 M | 417 K | 1.12 M | 42 M |
Deferred Revenue |
25 M | 37.1 M | 32.4 M | 33 M | - | 25.3 M | 12.6 M | 2.56 M | - | - | - | - | - | - | - |
Retained Earnings |
-203 M | -277 M | -355 M | -294 M | - | -359 M | -356 M | -368 M | - | - | - | - | - | - | - |
Total Assets |
2.62 B | 2.67 B | 2.71 B | 2.68 B | - | 2.3 B | 1.64 B | 1.29 B | 685 M | 214 M | 215 M | 218 M | 212 M | 6.81 M | 358 M |
Cash and Cash Equivalents |
448 M | 437 M | 410 M | 332 M | - | 129 M | 129 M | 55.1 M | 9.96 M | - | - | - | - | - | - |
Book Value |
719 M | 807 M | 848 M | 907 M | - | 835 M | 839 M | 827 M | 520 M | 206 M | 208 M | 210 M | 212 M | 5.68 M | 316 M |
Total Shareholders Equity |
719 M | 807 M | 848 M | 907 M | - | 835 M | 839 M | 827 M | - | - | - | - | - | - | - |
Annual performance
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All numbers in USD currency
Quarterly Balance Sheet Flex LNG Ltd.
| 2026-Q2 | 2025-Q4 | 2025-Q2 | 2024-Q4 | 2024-Q2 | 2023-Q4 | 2023-Q2 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
761 M | 1.74 B | 1.7 B | 1.7 B | 1.66 B | 1.71 B | 1.76 B | - | - | - | - | 1.55 B | - | 1.56 B | - | 1.34 B | - | 726 M | - | 744 M | - | - | - | 432 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
1.74 B | 1.74 B | 1.7 B | 1.7 B | 1.66 B | 1.71 B | 1.76 B | - | - | - | - | 1.55 B | - | 1.56 B | - | 1.34 B | - | 726 M | - | 744 M | - | - | - | 432 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
1.9 B | 1.9 B | 1.87 B | 1.86 B | 1.82 B | 1.86 B | 1.93 B | - | - | - | - | 1.68 B | - | 1.69 B | - | 1.47 B | - | 803 M | - | 802 M | - | - | - | 467 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Deferred Revenue |
25 M | 25 M | 30.6 M | 37.1 M | 34.1 M | 32.4 M | 31.8 M | - | - | - | - | 26.9 M | - | 21.6 M | - | 25.3 M | - | 6.12 M | - | 12.6 M | - | - | - | 2.56 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
-203 M | -203 M | -241 M | -277 M | -340 M | -355 M | -332 M | - | - | - | - | -296 M | - | -336 M | - | -359 M | - | -383 M | - | 356 M | - | - | - | -368 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
2.62 B | 2.62 B | 2.63 B | 2.67 B | 2.64 B | 2.71 B | 2.8 B | - | - | - | - | 2.57 B | - | 2.54 B | - | 2.3 B | - | 1.62 B | - | 1.64 B | - | - | - | 1.29 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
437 M | 448 M | 413 M | 437 M | 370 M | 410 M | 450 M | - | - | - | - | 201 M | - | 144 M | - | 129 M | - | 116 M | - | 129 M | - | 26.4 M | - | 54.9 M | - | - | - | 9.96 M | - | - | - | 1.44 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
719 M | 719 M | 762 M | 807 M | 824 M | 848 M | 870 M | - | - | - | - | 889 M | - | 852 M | - | 835 M | - | 812 M | - | 839 M | - | - | - | 827 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
762 M | 719 M | 762 M | 807 M | 824 M | 848 M | 870 M | - | - | - | - | 889 M | - | 852 M | - | 835 M | - | 812 M | - | 839 M | - | 820 M | - | 827 M | - | - | - | 520 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quarterly performance
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All numbers in USD currency
Balance Sheet is a fundamental financial report of Flex LNG Ltd., providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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