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ICON vs FRO
Revenue, margins, valuation, and 5-year total return — side by side.
Oil & Gas Midstream
ICON vs FRO — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||
|---|---|---|
| Industry | Marine Shipping | Oil & Gas Midstream |
| Market Cap | $2M | $8.48B |
| Revenue (TTM) | $6M | $1.77B |
| Net Income (TTM) | $-5M | $218M |
| Gross Margin | -0.7% | 26.5% |
| Operating Margin | -32.2% | 25.5% |
| Forward P/E | — | 6.0x |
| Total Debt | $16M | $3.75B |
| Cash & Equiv. | $946K | $414M |
ICON vs FRO — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | Jul 24 | May 26 | Return |
|---|---|---|---|
| Icon Energy Corp. (ICON) | 100 | 0.9 | -99.1% |
| Frontline Ltd. (FRO) | 100 | 154.8 | +54.8% |
Price return only. Dividends and distributions are not included.
Quick Verdict: ICON vs FRO
Each card shows where this stock fits in a portfolio — not just who wins on paper.
ICON is the clearest fit if your priority is income & stability and growth exposure.
- Dividend streak 0 yrs, beta 0.50, yield 15.5%
- Rev growth 18.6%, EPS growth -118.1%, 3Y rev CAGR -3.8%
- 18.6% revenue growth vs FRO's 13.8%
FRO carries the broadest edge in this set and is the clearest fit for long-term compounding and sleep-well-at-night.
- 5.1% 10Y total return vs ICON's -87.4%
- Lower volatility, beta 0.36, current ratio 1.39x
- Beta 0.36, yield 5.1%, current ratio 1.39x
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 18.6% revenue growth vs FRO's 13.8% | |
| Quality / Margins | 12.3% margin vs ICON's -79.7% | |
| Stability / Safety | Beta 0.36 vs ICON's 0.50 | |
| Dividends | 15.5% yield, vs FRO's 5.1% | |
| Momentum (1Y) | +132.3% vs ICON's -14.9% | |
| Efficiency (ROA) | 3.8% ROA vs ICON's -8.3%, ROIC 10.6% vs 0.8% |
ICON vs FRO — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
ICON vs FRO — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
FRO leads this category, winning 4 of 4 comparable metrics.
Income & Cash Flow (Last 12 Months)
FRO is the larger business by revenue, generating $1.8B annually — 287.8x ICON's $6M. FRO is the more profitable business, keeping 12.3% of every revenue dollar as net income compared to ICON's -79.7%.
| Metric | ||
|---|---|---|
| RevenueTrailing 12 months | $6M | $1.8B |
| EBITDAEarnings before interest/tax | -$492,000 | $781M |
| Net IncomeAfter-tax profit | -$5M | $218M |
| Free Cash FlowCash after capex | -$24M | $557M |
| Gross MarginGross profit ÷ Revenue | -0.7% | +26.5% |
| Operating MarginEBIT ÷ Revenue | -32.2% | +25.5% |
| Net MarginNet income ÷ Revenue | -79.7% | +12.3% |
| FCF MarginFCF ÷ Revenue | -3.9% | +31.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | -11.8% |
| EPS Growth (YoY)Latest quarter vs prior year | — | -33.3% |
Valuation Metrics
ICON leads this category, winning 4 of 4 comparable metrics.
Valuation Metrics
On an enterprise value basis, ICON's 9.1x EV/EBITDA is more attractive than FRO's 10.5x.
| Metric | ||
|---|---|---|
| Market CapShares × price | $2M | $8.5B |
| Enterprise ValueMkt cap + debt − cash | $17M | $11.8B |
| Trailing P/EPrice ÷ TTM EPS | -7.35x | 17.09x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 5.99x |
| PEG RatioP/E ÷ EPS growth rate | — | 0.73x |
| EV / EBITDAEnterprise value multiple | 9.12x | 10.54x |
| Price / SalesMarket cap ÷ Revenue | 0.29x | 4.14x |
| Price / BookPrice ÷ Book value/share | 0.13x | 3.62x |
| Price / FCFMarket cap ÷ FCF | — | — |
Profitability & Efficiency
FRO leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
FRO delivers a 9.4% return on equity — every $100 of shareholder capital generates $9 in annual profit, vs $-24 for ICON. ICON carries lower financial leverage with a 1.36x debt-to-equity ratio, signaling a more conservative balance sheet compared to FRO's 1.60x. On the Piotroski fundamental quality scale (0–9), FRO scores 5/9 vs ICON's 4/9, reflecting solid financial health.
| Metric | ||
|---|---|---|
| ROE (TTM)Return on equity | -23.9% | +9.4% |
| ROA (TTM)Return on assets | -8.3% | +3.8% |
| ROICReturn on invested capital | +0.8% | +10.6% |
| ROCEReturn on capital employed | +1.0% | +14.1% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 5 |
| Debt / EquityFinancial leverage | 1.36x | 1.60x |
| Net DebtTotal debt minus cash | $15M | $3.3B |
| Cash & Equiv.Liquid assets | $946,000 | $414M |
| Total DebtShort + long-term debt | $16M | $3.7B |
| Interest CoverageEBIT ÷ Interest expense | -0.97x | 1.87x |
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 $1,257 for ICON. Over the past 12 months, FRO leads with a +132.3% total return vs ICON's -14.9%. The 3-year compound annual growth rate (CAGR) favors FRO at 44.8% vs ICON's -49.9% — a key indicator of consistent wealth creation.
| Metric | ||
|---|---|---|
| YTD ReturnYear-to-date | +91.4% | +90.1% |
| 1-Year ReturnPast 12 months | -14.9% | +132.3% |
| 3-Year ReturnCumulative with dividends | -87.4% | +203.4% |
| 5-Year ReturnCumulative with dividends | -87.4% | +465.7% |
| 10-Year ReturnCumulative with dividends | -87.4% | +513.5% |
| CAGR (3Y)Annualised 3-year return | -49.9% | +44.8% |
Risk & Volatility
FRO leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
FRO is the less volatile stock with a 0.36 beta — it tends to amplify market swings less than ICON's 0.50 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 ICON's 29.6% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.50x | 0.36x |
| 52-Week HighHighest price in past year | $4.23 | $39.89 |
| 52-Week LowLowest price in past year | $0.55 | $16.25 |
| % of 52W HighCurrent price vs 52-week peak | +29.6% | +95.5% |
| RSI (14)Momentum oscillator 0–100 | 59.7 | 61.4 |
| Avg Volume (50D)Average daily shares traded | 277K | 4.0M |
Analyst Outlook
ICON leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
For income investors, ICON offers the higher dividend yield at 15.54% vs FRO's 5.12%.
| Metric | ||
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Hold |
| Price TargetConsensus 12-month target | — | $38.50 |
| # AnalystsCovering analysts | — | 22 |
| Dividend YieldAnnual dividend ÷ price | +15.5% | +5.1% |
| Dividend StreakConsecutive years of raises | 0 | 0 |
| Dividend / ShareAnnual DPS | $0.19 | $1.95 |
| Buyback YieldShare repurchases ÷ mkt cap | +100.0% | 0.0% |
FRO leads in 4 of 6 categories (Income & Cash Flow, Profitability & Efficiency). ICON leads in 2 (Valuation Metrics, Analyst Outlook).
ICON vs FRO: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is ICON or FRO a better buy right now?
For growth investors, Icon Energy Corp.
(ICON) is the stronger pick with 18. 6% revenue growth year-over-year, versus 13. 8% for Frontline Ltd. (FRO). 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 is the better long-term investment — ICON or FRO?
Over the past 5 years, Frontline Ltd.
(FRO) delivered a total return of +465. 7%, compared to -87. 4% for Icon Energy Corp. (ICON). Over 10 years, the gap is even starker: FRO returned +513. 5% versus ICON's -87. 4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — ICON or FRO?
By beta (market sensitivity over 5 years), Frontline Ltd.
(FRO) is the lower-risk stock at 0. 36β versus Icon Energy Corp. 's 0. 50β — meaning ICON is approximately 40% more volatile than FRO relative to the S&P 500. On balance sheet safety, Icon Energy Corp. (ICON) carries a lower debt/equity ratio of 136% versus 160% for Frontline Ltd. — giving it more financial flexibility in a downturn.
04Which is growing faster — ICON or FRO?
By revenue growth (latest reported year), Icon Energy Corp.
(ICON) is pulling ahead at 18. 6% versus 13. 8% for Frontline Ltd. (FRO). On earnings-per-share growth, the picture is similar: Frontline Ltd. grew EPS -24. 4% year-over-year, compared to -118. 1% for Icon Energy Corp.. 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.
05Which has better profit margins — ICON or FRO?
Frontline Ltd.
(FRO) is the more profitable company, earning 24. 2% net margin versus -4. 0% for Icon Energy Corp. — 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 3. 2% for ICON. 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.
06Which pays a better dividend — ICON or FRO?
All stocks in this comparison pay dividends.
Icon Energy Corp. (ICON) offers the highest yield at 15. 5%, versus 5. 1% for Frontline Ltd. (FRO).
07Is ICON or FRO 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%, ICON: -87. 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.
08What are the main differences between ICON and FRO?
These companies operate in different sectors (ICON (Industrials) and FRO (Energy)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.
In terms of investment character: ICON is a small-cap high-growth stock; FRO is a small-cap deep-value 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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