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Frontline Ltd. (FRO)
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Frontline Ltd. Income Statement 2025-2007 | FRO
Brief overview of profit and loss at Frontline Ltd.
The overview follows changes across a five-year period. The revenue attributed to Frontline Ltd. moved from 1.2 billion dollars to 2 billion dollars between the two endpoints. The total change was +61.4%, with a CAGR of approximately 10%. The trajectory reflects meaningful expansion of the business.
EBITDA changed from $647 million to $599 million (−7.4%). The operating result developed less favorably than sales. Comparing the endpoints gives EBITDA margins of 52.9% and 30.4%. Cost pressure reduced operating profitability.
The net result moved from 413 million dollars to 379 million dollars, or −8.2%. The final result remained comparatively stable.
The market value of the business moved from $1.2 billion to $4 billion, or +249.5%. Valuation expanded much faster than the underlying results.
Summary assessment
The five-year picture requires weighing both strengths and weaknesses. The positive side is supported by sales growth. The overall view is constrained by weaker operating efficiency and declining net profitability. Further direction will depend on top-line growth, operating profitability, and net income.
Annual Income Statement Frontline Ltd.
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
4.03 B | 6.22 B | 3.24 B | 2.17 B | 1.31 B | 1.15 B | 1.25 B | 716 M | 640 M | 906 M | 1.31 B | 231 M | 346 M | 268 M | 406 M | 12.7 B | 9.42 B | 22.8 B | - |
Shares |
223 M | 223 M | 223 M | 214 M | 199 M | 196 M | 174 M | 170 M | 170 M | 170 M | 120 M | 20 M | 16 M | 15.6 M | 15.6 M | 77.9 M | 77.9 M | 76.4 M | - |
Historical Prices |
18.1 | 28 | 14.6 | 10.1 | 6.57 | 5.9 | 7.18 | 4.22 | 3.77 | 5.34 | 7.21 | 7.64 | 13.7 | 11.5 | 16.6 | 163 | 121 | 298 | 232 |
Net Income |
379 M | 496 M | 656 M | 476 M | -11.1 M | 413 M | 140 M | -8.88 M | -265 M | 117 M | 155 M | 149 M | -188 M | -82.8 M | -530 M | 161 M | 103 M | 699 M | - |
Revenue |
1.97 B | 2.16 B | 1.83 B | 1.44 B | 749 M | 1.22 B | 957 M | 742 M | 646 M | 754 M | 459 M | 242 M | 517 M | 668 M | 810 M | 1.17 B | 1.13 B | 2.1 B | - |
Gross Profit |
- | - | - | - | - | 537 M | 405 M | 234 M | 251 M | 473 M | 285 M | 88.5 M | 115 M | 209 M | 327 M | - | - | - | - |
Operating Income |
599 M | 782 M | 747 M | 446 M | 12.2 M | 508 M | 240 M | 82.7 M | -196 M | 177 M | 287 M | 121 M | 65.8 M | 18.9 M | -407 M | 308 M | 240 M | 850 M | - |
Interest Expense |
- | - | - | - | 61.4 M | 72.2 M | 94.5 M | 93.3 M | 69.8 M | 56.7 M | 17.6 M | 7.42 M | 12 M | 94.1 M | 136 M | 150 M | 161 M | 184 M | - |
EBITDA |
599 M | 782 M | 747 M | 446 M | 160 M | 647 M | 357 M | 205 M | -54.5 M | 319 M | 329 M | 153 M | -600 K | 110 M | -204 M | 521 M | 477 M | 1.07 B | - |
Operating Expenses |
1.37 B | 1.38 B | 1.08 B | 993 M | 743 M | 59 M | 44.4 M | 37.3 M | 37.6 M | 41 M | 10.6 M | 37.3 M | 8.07 M | 69.6 M | 232 M | 888 M | 896 M | 1.4 B | - |
General and Administrative Expenses |
- | - | - | - | 27.9 M | 58.8 M | 45 M | 37.3 M | 37.6 M | 37 M | 10.6 M | 77.7 M | 31.6 M | 88.5 M | - | 31.9 M | 30.6 M | 35.2 M | - |
Annual performance
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All numbers in USD currency
Quarterly Income Statement Frontline Ltd.
| 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 | 2010-Q4 | 2009-Q4 | 2008-Q4 | 2007-Q4 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
223 M | 223 M | 223 M | 223 M | 223 M | 223 M | - | - | - | - | 204 M | - | 198 M | - | 198 M | - | 198 M | - | 197 M | - | 171 M | - | 170 M | - | 170 M | - | 170 M | - | 170 M | - | 170 M | - | 198 M | - | 782 M | - | 198 M | - | 635 M | - | 96.9 M | - | 635 M | 78.8 M | 77.9 M | 77.9 M | 398 M | 77.9 M | - | 77.9 M | 77.9 M | 77.9 M | - | - | 77.9 M | 77.9 M | 76.4 M | - |
Net Income |
379 M | 111 M | 496 M | 368 M | 656 M | 430 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -78.2 M | - | - | - | -120 M | -18.8 M | - | -49 M | - | 7.18 M | - | -166 M | - | - | 161 M | 103 M | 699 M | - |
Revenue |
1.97 B | 908 M | 2.16 B | 1.23 B | 1.83 B | 1.03 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 119 M | - | - | - | 121 M | 126 M | - | 127 M | - | 149 M | - | 174 M | - | - | 1.17 B | 1.13 B | 2.1 B | - |
Operating Income |
599 M | 225 M | 782 M | 507 M | 747 M | 494 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -65.5 M | - | - | - | -100 M | -127 K | - | -26 M | - | 17.6 M | - | -136 M | - | - | 308 M | 240 M | 850 M | - |
Interest Expense |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 21.2 M | - | - | - | 22.9 M | 22.6 M | - | 23.6 M | - | 24 M | - | 32.5 M | - | - | 150 M | 161 M | 184 M | - |
EBITDA |
599 M | 225 M | 782 M | 507 M | 747 M | 494 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -42.9 M | - | - | - | -73.8 M | 26 M | - | 2.33 M | - | 44.5 M | - | -86.2 M | - | - | 521 M | 477 M | 1.07 B | - |
Operating Expenses |
1.37 B | 683 M | 1.38 B | 721 M | 1.08 B | 540 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 185 M | - | - | - | 222 M | 135 M | - | 156 M | - | 143 M | - | 314 M | - | - | 888 M | 896 M | 1.4 B | - |
General and Administrative Expenses |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 10.3 M | - | - | - | 7.32 M | 8.43 M | - | 8.34 M | - | 8.32 M | - | 9.87 M | - | - | 31.9 M | 30.6 M | 35.2 M | - |
Quarterly performance
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All numbers in USD currency
The income statement is one of the three key financial reports of a company Frontline Ltd. (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.