FRO
Frontline Ltd.
Oil & Gas Midstream
Market Cap$8.48B
5Y Perf.+317.3%
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Stock Comparison
FRO vs NAT
Revenue, margins, valuation, and 5-year total return — side by side.
NAT
Nordic American Tankers Limited
Marine Shipping
Market Cap$1.24B
5Y Perf.+28.0%
FRO vs NAT — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | FRO | NAT |
|---|---|---|
| Industry | Oil & Gas Midstream | Marine Shipping |
| Market Cap | $8.48B | $1.24B |
| Revenue (TTM) | $1.77B | $281M |
| Net Income (TTM) | $218M | $2M |
| Gross Margin | 26.5% | 16.6% |
| Operating Margin | 25.5% | 6.2% |
| Forward P/E | 6.0x | 10.4x |
| Total Debt | $3.75B | $270M |
| Cash & Equiv. | $414M | $39M |
FRO vs NAT — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
FRO
NAT
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Frontline Ltd. (FRO) | 100 | 417.3 | +317.3% |
| Nordic American Tan… (NAT) | 100 | 128.0 | +28.0% |
Price return only. Dividends and distributions are not included.
Quick Verdict: FRO vs NAT
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: FRO leads in 4 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. Nordic American Tankers Limited is the stronger pick specifically for capital preservation and lower volatility and dividend income and shareholder returns. This set spans 2 sectors — these stocks serve different portfolio roles, not just different price points.
FRO
Frontline Ltd.
The Growth Play
FRO carries the broadest edge in this set and is the clearest fit for growth exposure and long-term compounding.
- Rev growth 13.8%, EPS growth -24.4%, 3Y rev CAGR 39.9%
- 5.1% 10Y total return vs NAT's -40.4%
- 13.8% revenue growth vs NAT's -10.7%
Best for: growth exposure and long-term compounding
NAT
Nordic American Tankers Limited
The Income Pick
NAT is the clearest fit if your priority is income & stability and sleep-well-at-night.
- Dividend streak 0 yrs, beta 0.27, yield 7.1%
- Lower volatility, beta 0.27, Low D/E 53.0%, current ratio 1.65x
- Beta 0.27, yield 7.1%, current ratio 1.65x
Best for: income & stability and sleep-well-at-night
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | FRO | 13.8% revenue growth vs NAT's -10.7% |
| Value | FRO | Lower P/E (6.0x vs 10.4x) |
| Quality / Margins | FRO | 12.3% margin vs NAT's 0.7% |
| Stability / Safety | NAT | Beta 0.27 vs FRO's 0.36, lower leverage |
| Dividends | NAT | 7.1% yield, vs FRO's 5.1% |
| Momentum (1Y) | NAT | +142.1% vs FRO's +132.3% |
| Efficiency (ROA) | FRO | 3.8% ROA vs NAT's 0.2%, ROIC 10.6% vs 7.5% |
FRO vs NAT — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2024
FY 2024
FRO vs NAT — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLFROLAGGINGNAT
NATNordic American Tanke…
1leads
FROFrontline Ltd.
4leads
6 Total Categories
CATEGORYLEADERvs NATMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
FRO5/6
Valuation MetricsMultiples, price ratios, and targets
FRO3/5
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
FRO5/8
Total Returns1Y, 3Y, 5Y total returns with dividends
FRO5/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
NAT1/1
Income & Cash Flow (Last 12 Months)
FRO leads this category, winning 5 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
FRO is the larger business by revenue, generating $1.8B annually — 6.3x NAT's $281M. FRO is the more profitable business, keeping 12.3% of every revenue dollar as net income compared to NAT's 0.7%.
| Metric | FROFrontline Ltd. | NATNordic American T… |
|---|---|---|
| RevenueTrailing 12 months | $1.8B | $281M |
| EBITDAEarnings before interest/tax | $781M | $75M |
| Net IncomeAfter-tax profit | $218M | $2M |
| Free Cash FlowCash after capex | $557M | -$112M |
| Gross MarginGross profit ÷ Revenue | +26.5% | +16.6% |
| Operating MarginEBIT ÷ Revenue | +25.5% | +6.2% |
| Net MarginNet income ÷ Revenue | +12.3% | +0.7% |
| FCF MarginFCF ÷ Revenue | +31.5% | -39.8% |
| Rev. Growth (YoY)Latest quarter vs prior year | -11.8% | -8.8% |
| EPS Growth (YoY)Latest quarter vs prior year | -33.3% | -131.5% |
FRO leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
FRO leads this category, winning 3 of 5 comparable metrics.
Valuation Metrics
At 17.1x trailing earnings, FRO trades at a 36% valuation discount to NAT's 26.6x P/E. On an enterprise value basis, FRO's 10.5x EV/EBITDA is more attractive than NAT's 11.0x.
| Metric | FROFrontline Ltd. | NATNordic American T… |
|---|---|---|
| Market CapShares × price | $8.5B | $1.2B |
| Enterprise ValueMkt cap + debt − cash | $11.8B | $1.5B |
| Trailing P/EPrice ÷ TTM EPS | 17.09x | 26.59x |
| Forward P/EPrice ÷ next-FY EPS est. | 5.99x | 10.40x |
| PEG RatioP/E ÷ EPS growth rate | 0.73x | — |
| EV / EBITDAEnterprise value multiple | 10.54x | 11.01x |
| Price / SalesMarket cap ÷ Revenue | 4.14x | 3.54x |
| Price / BookPrice ÷ Book value/share | 3.62x | 2.41x |
| Price / FCFMarket cap ÷ FCF | — | 9.87x |
FRO leads this category, winning 3 of 5 comparable metrics.
Profitability & Efficiency
FRO leads this category, winning 5 of 8 comparable metrics.
Profitability & Efficiency
FRO delivers a 9.4% return on equity — every $100 of shareholder capital generates $9 in annual profit, vs $0 for NAT. NAT carries lower financial leverage with a 0.53x debt-to-equity ratio, signaling a more conservative balance sheet compared to FRO's 1.60x.
| Metric | FROFrontline Ltd. | NATNordic American T… |
|---|---|---|
| ROE (TTM)Return on equity | +9.4% | +0.4% |
| ROA (TTM)Return on assets | +3.8% | +0.2% |
| ROICReturn on invested capital | +10.6% | +7.5% |
| ROCEReturn on capital employed | +14.1% | +9.9% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 5 |
| Debt / EquityFinancial leverage | 1.60x | 0.53x |
| Net DebtTotal debt minus cash | $3.3B | $231M |
| Cash & Equiv.Liquid assets | $414M | $39M |
| Total DebtShort + long-term debt | $3.7B | $270M |
| Interest CoverageEBIT ÷ Interest expense | 1.87x | 1.06x |
FRO leads this category, winning 5 of 8 comparable metrics.
Total Returns (Dividends Reinvested)
FRO leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in FRO five years ago would be worth $56,570 today (with dividends reinvested), compared to $21,696 for NAT. Over the past 12 months, NAT leads with a +142.1% total return vs FRO's +132.3%. The 3-year compound annual growth rate (CAGR) favors FRO at 44.8% vs NAT's 27.6% — a key indicator of consistent wealth creation.
| Metric | FROFrontline Ltd. | NATNordic American T… |
|---|---|---|
| YTD ReturnYear-to-date | +90.1% | +78.6% |
| 1-Year ReturnPast 12 months | +132.3% | +142.1% |
| 3-Year ReturnCumulative with dividends | +203.4% | +107.6% |
| 5-Year ReturnCumulative with dividends | +465.7% | +117.0% |
| 10-Year ReturnCumulative with dividends | +513.5% | -40.4% |
| CAGR (3Y)Annualised 3-year return | +44.8% | +27.6% |
FRO leads this category, winning 5 of 6 comparable metrics.
Risk & Volatility
Evenly matched — FRO and NAT each lead in 1 of 2 comparable metrics.
Risk & Volatility
NAT is the less volatile stock with a 0.27 beta — it tends to amplify market swings less than FRO's 0.36 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. FRO currently trades 95.5% from its 52-week high vs NAT's 92.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | FROFrontline Ltd. | NATNordic American T… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.36x | 0.27x |
| 52-Week HighHighest price in past year | $39.89 | $6.34 |
| 52-Week LowLowest price in past year | $16.25 | $2.54 |
| % of 52W HighCurrent price vs 52-week peak | +95.5% | +92.3% |
| RSI (14)Momentum oscillator 0–100 | 61.4 | 52.4 |
| Avg Volume (50D)Average daily shares traded | 4.0M | 5.3M |
Evenly matched — FRO and NAT each lead in 1 of 2 comparable metrics.
Analyst Outlook
NAT leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Wall Street rates FRO as "Hold" and NAT as "Hold". Consensus price targets imply 1.0% upside for FRO (target: $39) vs -40.2% for NAT (target: $4). For income investors, NAT offers the higher dividend yield at 7.14% vs FRO's 5.12%.
| Metric | FROFrontline Ltd. | NATNordic American T… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | $38.50 | $3.50 |
| # AnalystsCovering analysts | 22 | 19 |
| Dividend YieldAnnual dividend ÷ price | +5.1% | +7.1% |
| Dividend StreakConsecutive years of raises | 0 | 0 |
| Dividend / ShareAnnual DPS | $1.95 | $0.42 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.3% |
NAT leads this category, winning 1 of 1 comparable metric.
Key Takeaway
FRO leads in 4 of 6 categories (Income & Cash Flow, Valuation Metrics). NAT leads in 1 (Analyst Outlook). 1 tied.
Best OverallFrontline Ltd. (FRO)Leads 4 of 6 categories
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FRO vs NAT: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is FRO or NAT a better buy right now?
For growth investors, Frontline Ltd.
(FRO) is the stronger pick with 13. 8% revenue growth year-over-year, versus -10. 7% for Nordic American Tankers Limited (NAT). Frontline Ltd. (FRO) offers the better valuation at 17. 1x trailing P/E (6. 0x forward), making it the more compelling value choice. Analysts rate Frontline Ltd. (FRO) a "Hold" — based on 22 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — FRO or NAT?
On trailing P/E, Frontline Ltd.
(FRO) is the cheapest at 17. 1x versus Nordic American Tankers Limited at 26. 6x. On forward P/E, Frontline Ltd. is actually cheaper at 6. 0x.
03Which is the better long-term investment — FRO or NAT?
Over the past 5 years, Frontline Ltd.
(FRO) delivered a total return of +465. 7%, compared to +117. 0% for Nordic American Tankers Limited (NAT). Over 10 years, the gap is even starker: FRO returned +513. 5% versus NAT's -40. 4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — FRO or NAT?
By beta (market sensitivity over 5 years), Nordic American Tankers Limited (NAT) is the lower-risk stock at 0.
27β versus Frontline Ltd. 's 0. 36β — meaning FRO is approximately 31% more volatile than NAT relative to the S&P 500. On balance sheet safety, Nordic American Tankers Limited (NAT) carries a lower debt/equity ratio of 53% versus 160% for Frontline Ltd. — giving it more financial flexibility in a downturn.
05Which is growing faster — FRO or NAT?
By revenue growth (latest reported year), Frontline Ltd.
(FRO) is pulling ahead at 13. 8% versus -10. 7% for Nordic American Tankers Limited (NAT). On earnings-per-share growth, the picture is similar: Frontline Ltd. grew EPS -24. 4% year-over-year, compared to -53. 2% for Nordic American Tankers Limited. Over a 3-year CAGR, FRO leads at 39. 9% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — FRO or NAT?
Frontline Ltd.
(FRO) is the more profitable company, earning 24. 2% net margin versus 13. 3% for Nordic American Tankers Limited — meaning it keeps 24. 2% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: FRO leads at 38. 1% versus 22. 1% for NAT. At the gross margin level — before operating expenses — FRO leads at 34. 4%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is FRO or NAT more undervalued right now?
On forward earnings alone, Frontline Ltd.
(FRO) trades at 6. 0x forward P/E versus 10. 4x for Nordic American Tankers Limited — 4. 4x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for FRO: 1. 0% to $38. 50.
08Which pays a better dividend — FRO or NAT?
All stocks in this comparison pay dividends.
Nordic American Tankers Limited (NAT) offers the highest yield at 7. 1%, versus 5. 1% for Frontline Ltd. (FRO).
09Is FRO or NAT better for a retirement portfolio?
For long-horizon retirement investors, Frontline Ltd.
(FRO) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 36), 5. 1% yield, +513. 5% 10Y return). Both have compounded well over 10 years (FRO: +513. 5%, NAT: -40. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between FRO and NAT?
These companies operate in different sectors (FRO (Energy) and NAT (Industrials)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.
In terms of investment character: FRO is a small-cap deep-value stock; NAT is a small-cap income-oriented stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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(FRO: -11.8% · NAT: -8.8%)P/E Ratio<
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