MARKETS / NYSE / Industrials / Water transportation / FRO

NYSE · DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT · LARGE CAP

Frontline PLC FRO

14 fiscal years on record · USD · FY2021 reported · SEC filings only

Revenue

$749.4M

▼ 38.6% YoY

Net income

$-11.1M

▼ 102.7% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

It transports crude oil and related refined petroleum products, with its vessels operating in the spot and time charter markets. As of December 31, 2025, the Company's fleet consisted of 80 vessels it owned, comprising 41 VLCCs, 21 Suezmax tankers and 18 LR2/Aframax tankers, with an aggregate capacity of approximately 17.6 million DWT. No customer individually accounted for 10% or more of the Company's consolidated operating revenues in the years ended December 31, 2025, 2024 or 2023. The Company has one reportable segment, tankers, which includes crude oil tankers and product tankers. Its VLCCs are designed for the transportation of crude oil and, due to their size, are primarily used to transport crude oil from the Middle East Gulf to the Far East, Northern Europe, the Caribbean and the Louisiana Offshore Oil Port. Its Suezmax tankers are designed for worldwide trading, with their trade mainly in the Atlantic Basin, Middle East and Southeast Asia. Its LR2/Aframax tankers are designed to be flexible, able to transport primarily refined products, but also fuel and crude oil from smaller ports limited by draft restrictions.

Written from the business description in Frontline plc's annual report to the U.S. Securities and Exchange Commission, filed 27 March 2026. Every sentence was checked against that document before publication.

Growth

USD 749.4M

Revenue, FY2021 · full 14-year series below

Revenue $B Net income $B

FY2021 · Revenue 0.7 · Net income -0.0

1.0B2.0B-0.2B-0.4B

200820112014201720202021

Compound annual growth

Revenue

+0.3%

−0.1%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at −0.1% a year over the five years to FY2021.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−1 cents

lost on every revenue dollar

Operating margin Net margin

FY2021 · Operating 1.6% · Net -1.5%

20%40%60%-20%-40%-60%

200820142021

ROE

FY2021 · ROE -0.7%

50%-50%-100%

200820142021

Three returns, three denominators.

Return on equity-0.7%

Return on assets-0.3%

Return on capital employed0.3%

Gross margin·

Operating margin1.6%

Net margin-1.5%

EBITDAUSD 160.0M

Each USD of equity lost 1 cents this year.

Cash & shareholders

USD 0.00

returned in FY2021 · dividends + net buybacks

Net buybacks $M Dividends $M

FY2021 · Dividends 0.0 · Net buybacks ·

150M300M

201320142015201620172018201920202021

Dividends paidUSD 0.00

Net buybacks·

Share of profit-0.0%

Consecutive raises1 year

Total assetsUSD 4.1B

EquityUSD 1.7B

CashUSD 113.1M

Gross debtUSD 2.3B

Net debtUSD 2.2B

Current ratio1.14×

Net debt stands at 133% of equity.

The 14-year record

14 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data

FRO, 14-year financial record
Metric	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Revenue $B	0.7	1.2	1.0	0.7	0.6	0.8	0.5	0.2	0.1	0.6	0.7	1.2	1.1	2.1
Operating income $B	0.0	0.5	0.2	0.1	−0.2	0.2	0.3	0.1	0.1	0.0	−0.4	0.3	0.2	0.9
EBITDA $B	0.2	0.6	0.4	0.2	−0.1	0.3	0.3	0.2	0.1	0.1	−0.2	0.5	0.5	1.1
Income tax $B	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 $B	−0.0	0.4	0.1	−0.0	−0.3	0.1	0.2	0.1	0.1	−0.1	−0.5	0.2	0.1	0.7
EPS, diluted $	−0.06	2.09	0.78	−0.05	−1.56	0.75	1.29	1.19	0.61	0.00	−6.80	2.01	1.32	9.14
Dividend / sh $	0.00	1.60	0.10	0.00	0.30	1.05	0.25	4.46	0.64	0.00	0.22	2.00	0.90	8.25
Payout %	−0	76	14	−4	−19	141	25	25	2	—	—	—	—	—
ROE %	−0.7	26.4	10.5	−0.8	−19.7	7.9	12.0	—	—	−51.6	−111.7	21.7	14.2	98.6
Shares out B	0.20	0.20	0.20	0.17	0.17	0.17	0.78	0.11	0.09	0.08	0.08	0.08	0.08	0.08

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 53 reconciliationsAUDITED

Reconciled in 14 of the 14 fiscal years we could check. Four checks were skipped: the balance sheet is not tagged before 2009. One check was skipped: EPS is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures

ActivityDeep Sea Foreign Transportation of Freight

Listed onNYSE

Incorporated innot stated in the filings

Fiscal year endsDecember 31

Data on record since2008