FLEX LNG Ltd. (FLNG) 10-Year Financial Performance & Capital Metrics

FLNG • • Industrial / General

EnergyMidstream Oil & GasLNG Infrastructure & ShippingLNG Carrier Operators

AboutFlex LNG Ltd., through its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. As of February 16, 2022, it owned and operated nine M-type electronically controlled gas injection LNG carriers; and four vessels with generation X dual fuel propulsion systems. It also provides chartering and management services. Flex LNG Ltd. was incorporated in 2006 and is based in Hamilton, Bermuda.Show more

Revenue $356M -4.0%
EBITDA $273M -5.9%
Net Income $118M -2.0%
EPS (Diluted) 2.18 -1.8%
Gross Margin 58.25% -5.1%
EBITDA Margin 76.69% -2.1%
Operating Margin 55.51% -5.2%
Net Margin 33.02% +2.1%
ROE 14.23% +4.0%
ROIC 6.7% -6.7%
Debt/Equity 2.24 +5.0%
Interest Coverage 1.87 -6.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 47.3%
✓FCF machine: 51.3% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 24.3%
✓Good 3Y average ROE of 16.3%
✓Healthy 5Y average net margin of 34.3%

✗Weaknesses

✗High debt to equity ratio of 2.2x
✗Dividend payout exceeds 100% of earnings
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y24.33%

3Y1.24%

TTM-3.2%

Profit (Net Income) CAGR

10Y-

5Y47.31%

3Y-10.14%

TTM7.21%

EPS CAGR

10Y-

5Y47.71%

3Y-10.49%

TTM7.65%

ROCE

10Y Avg3.95%

5Y Avg7.44%

3Y Avg8.14%

Latest7.81%

Peer Comparison

LNG Carrier Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GLNGGolar LNG Limited	4.05B	39.53	82.35	-12.75%	17.96%	2.54%		0.62
FLNGFLEX LNG Ltd.	1.47B	27.12	12.44	-3.95%	28.05%	13.34%	12.46%	2.24
GLOP-PAGasLog Partners LP	1.19B	25.89	8.81	-10.45%	31.3%	12.15%	21.51%	0.08
DLNGDynagas LNG Partners LP	138.98M	3.82	3.64	-2.54%	37.92%	13%	66.29%	0.66
SEAL-PBSeapeak LLC		25.45	-27.36	-2.21%	-27.59%	-8.42%		1.21

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	0	27.33M	77.21M	119.97M	164.46M	343.45M	347.92M	371.02M	356.35M
Revenue Growth %	-	-	-	1.83%	0.55%	0.37%	1.09%	0.01%	0.07%	-0.04%
Cost of Goods Sold+	3K	2K	36.53M	43.57M	57.45M	82.54M	134.4M	138.16M	143.4M	148.77M
COGS % of Revenue	-	-	1.34%	0.56%	0.48%	0.5%	0.39%	0.4%	0.39%	0.42%
Gross Profit+	-815K	-743K	-10.24M	33.64M	62.51M	81.92M	209.04M	209.76M	227.62M	207.58M
Gross Margin %	-	-	-0.37%	0.44%	0.52%	0.5%	0.61%	0.6%	0.61%	0.58%
Gross Profit Growth %	0.06%	0.09%	-12.79%	4.28%	0.86%	0.31%	1.55%	0%	0.09%	-0.09%
Operating Expenses+	1.41M	727K	3.41M	4.64M	7.51M	6.3M	7.89M	9.15M	10.47M	9.79M
OpEx % of Revenue	-	-	0.12%	0.06%	0.06%	0.04%	0.02%	0.03%	0.03%	0.03%
Selling, General & Admin	1.41M	725K	3.41M	4.64M	7.51M	6.3M	7.89M	9.15M	10.47M	9.79M
SG&A % of Revenue	-	-	0.12%	0.06%	0.06%	0.04%	0.02%	0.03%	0.03%	0.03%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	3K	2K	2K	0	0	0	0	0	0	0
Operating Income+	-2.23M	-1.49M	-12.61M	29M	55.01M	75.62M	201.16M	200.62M	217.16M	197.79M
Operating Margin %	-	-	-0.46%	0.38%	0.46%	0.46%	0.59%	0.58%	0.59%	0.56%
Operating Income Growth %	0.14%	0.33%	-7.49%	3.3%	0.9%	0.37%	1.66%	-0%	0.08%	-0.09%
EBITDA+	-2.23M	-1.48M	-12.61M	46.41M	83.75M	117.47M	270.99M	272.84M	290.52M	273.27M
EBITDA Margin %	-	-	-0.46%	0.6%	0.7%	0.71%	0.79%	0.78%	0.78%	0.77%
EBITDA Growth %	0.14%	0.33%	-7.5%	4.68%	0.8%	0.4%	1.31%	0.01%	0.06%	-0.06%
D&A (Non-Cash Add-back)	3K	2K	2K	17.41M	28.75M	41.85M	69.83M	72.22M	73.36M	75.48M
EBIT	-2.21M	-1.48M	-10.16M	29.55M	51.02M	49.99M	218.53M	264.74M	228.84M	223.4M
Net Interest Income+	-247K	-305K	-111K	-17.17M	-32.91M	-41.48M	-56.04M	-74.59M	-103.86M	-101.12M
Interest Income	20K	9K	123K	607K	1.07M	327K	41K	2M	4.87M	4.47M
Interest Expense	267K	314K	234K	17.78M	33.88M	41.8M	56.22M	76.6M	108.72M	105.59M
Other Income/Expense	-247K	-305K	2.22M	-17.23M	-37.86M	-67.43M	-38.85M	-12.47M	-97.04M	-79.98M
Pretax Income+	-2.48M	-1.79M	-10.39M	11.77M	17.15M	8.19M	162.3M	188.14M	120.12M	117.82M
Pretax Margin %	-	-	-0.38%	0.15%	0.14%	0.05%	0.47%	0.54%	0.32%	0.33%
Income Tax+	7K	-1K	17K	-10K	182K	84K	99K	98K	78K	132K
Effective Tax Rate %	1%	1%	1%	1%	0.99%	0.99%	1%	1%	1%	1%
Net Income+	-2.48M	-1.79M	-10.41M	11.78M	16.97M	8.11M	162.21M	188.04M	120.04M	117.68M
Net Margin %	-	-	-0.38%	0.15%	0.14%	0.05%	0.47%	0.54%	0.32%	0.33%
Net Income Growth %	0.06%	0.28%	-4.82%	2.13%	0.44%	-0.52%	19.01%	0.16%	-0.36%	-0.02%
Net Income (Continuing)	-2.48M	-1.79M	-10.41M	11.78M	16.97M	8.11M	162.21M	188.04M	120.04M	117.68M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.19	-0.14	-0.34	0.29	0.31	0.15	3.04	3.51	2.22	2.18
EPS Growth %	0.1%	0.26%	-1.43%	1.85%	0.07%	-0.52%	19.27%	0.15%	-0.37%	-0.02%
EPS (Basic)	-0.20	-0.14	-0.34	0.29	0.31	0.15	3.04	3.53	2.24	2.19
Diluted Shares Outstanding	12.78M	12.79M	30.76M	40.59M	54.25M	54.27M	53.34M	53.52M	53.99M	54.03M
Basic Shares Outstanding	12.43M	12.79M	30.61M	40.45M	54.11M	54.1M	53.32M	53.2M	53.7M	53.85M
Dividend Payout Ratio	-	-	-	-	0.32%	1.33%	0.61%	0.99%	1.21%	1.37%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	3.97M	1.66M	17.57M	60.42M	143.89M	157.84M	224.89M	354.05M	443.06M	474.38M
Cash & Short-Term Investments	3.72M	1.44M	9.96M	54.93M	129M	128.88M	200.65M	332.33M	410.43M	437.15M
Cash Only	3.72M	1.44M	9.96M	54.93M	129M	128.88M	200.65M	332.33M	410.43M	437.15M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	250K	46K	486K	3.9M	5.42M	4.05M	5.27M	4.86M	19.93M	1.4M
Days Sales Outstanding	-	-	6.49	18.41	16.51	8.99	5.6	5.1	19.6	1.44
Inventory	0	0	1.04M	915K	2.69M	3.66M	6.45M	5.26M	5.09M	4.82M
Days Inventory Outstanding	-	-	10.4	7.66	17.06	16.17	17.52	13.9	12.96	11.84
Other Current Assets	0	0	486K	165K	3.99M	9.92M	10.03M	5.66M	119K	24.25M
Total Non-Current Assets+	211.27M	212.47M	666.94M	1.23B	1.5B	2.15B	2.35B	2.33B	2.27B	2.19B
Property, Plant & Equipment	211.27M	212.47M	666.94M	1.23B	1.15B	1.86B	2.34B	2.27B	2.22B	2.15B
Fixed Asset Turnover	-	-	0.04x	0.06x	0.10x	0.09x	0.15x	0.15x	0.17x	0.17x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	636K	109K	5.86M	55.52M	48.83M	40.09M
Other Non-Current Assets	0	0	0	0	349.47M	289.6M	0	0	0	0
Total Assets+	215.25M	214.13M	684.51M	1.29B	1.64B	2.3B	2.57B	2.68B	2.71B	2.67B
Asset Turnover	-	-	0.04x	0.06x	0.07x	0.07x	0.13x	0.13x	0.14x	0.13x
Asset Growth %	-0.01%	-0.01%	2.2%	0.89%	0.27%	0.4%	0.12%	0.04%	0.01%	-0.01%
Total Current Liabilities+	613K	1.19M	4.41M	35.46M	57.73M	131.83M	131.59M	153.2M	153.27M	158.78M
Accounts Payable	15K	46K	76K	592K	582K	3.37M	2.02M	1.79M	3.51M	2M
Days Payables Outstanding	1.82K	8.39K	0.76	4.96	3.7	14.92	5.47	4.74	8.93	4.91
Short-Term Debt	0	0	0	23.36M	36.94M	87.9M	86.24M	95.51M	103.87M	106.71M
Deferred Revenue (Current)	0	0	1000K	1000K	0	0	0	0	1000K	0
Other Current Liabilities	0	0	58K	2.3M	13.29M	26.25M	30.41M	34.89M	482K	49.6M
Current Ratio	6.48x	1.39x	3.99x	1.70x	2.49x	1.20x	1.71x	2.31x	2.89x	2.99x
Quick Ratio	6.48x	1.39x	3.75x	1.68x	2.45x	1.17x	1.66x	2.28x	2.86x	2.96x
Cash Conversion Cycle	-	-	16.13	21.12	29.87	10.24	17.65	14.25	23.63	8.36
Total Non-Current Liabilities+	7M	7M	160M	431.6M	744.28M	1.34B	1.55B	1.62B	1.71B	1.7B
Long-Term Debt	7M	7M	160M	431.6M	302.36M	757.19M	841.5M	1.02B	1.71B	676.89M
Capital Lease Obligations	0	0	0	155.53M	441.92M	579.82M	710.45M	597.8M	0	1.03B
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	-155.53M	2K	0	1	0	0	0
Total Liabilities	7.61M	8.19M	164.41M	467.06M	802.02M	1.47B	1.68B	1.77B	1.86B	1.86B
Total Debt+	7M	7M	160M	454.97M	781.22M	1.42B	1.64B	1.71B	1.81B	1.81B
Net Debt	3.28M	5.56M	150.04M	400.04M	652.22M	1.3B	1.44B	1.38B	1.4B	1.37B
Debt / Equity	0.03x	0.03x	0.31x	0.55x	0.93x	1.71x	1.84x	1.89x	2.14x	2.24x
Debt / EBITDA	-	-	-	9.80x	9.33x	12.13x	6.05x	6.28x	6.24x	6.62x
Net Debt / EBITDA	-	-	-	8.62x	7.79x	11.03x	5.30x	5.07x	4.82x	5.02x
Interest Coverage	-8.36x	-4.73x	-53.91x	1.63x	1.62x	1.81x	3.58x	2.62x	2.00x	1.87x
Total Equity+	207.63M	205.94M	520.1M	827.32M	839.26M	835.17M	889.39M	907.09M	847.65M	806.63M
Equity Growth %	-0.01%	-0.01%	1.53%	0.59%	0.01%	-0%	0.06%	0.02%	-0.07%	-0.05%
Book Value per Share	16.24	16.10	16.91	20.38	15.47	15.39	16.67	16.95	15.70	14.93
Total Shareholders' Equity	207.63M	205.94M	520.1M	827.32M	839.26M	835.17M	889.39M	907.09M	847.65M	806.63M
Common Stock	1.28M	1.28M	3.68M	5.41M	5.41M	5.41M	5.41M	5.45M	5.45M	545K
Retained Earnings	-367.33M	-369.12M	-379.53M	-367.75M	-356.19M	-358.91M	-295.63M	-293.69M	-354.87M	-277.49M
Treasury Stock	0	0	0	0	0	-1.66M	-9.45M	-8.08M	-7.56M	-4.22M
Accumulated OCI	-4K	-3K	-5K	-17.41M	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-2.81M	-1.08M	-17.72M	35.71M	51.53M	89.3M	214.84M	208.87M	175.03M	182.8M
Operating CF Margin %	-	-	-0.65%	0.46%	0.43%	0.54%	0.63%	0.6%	0.47%	0.51%
Operating CF Growth %	-1.23%	0.62%	-15.43%	3.02%	0.44%	0.73%	1.41%	-0.03%	-0.16%	0.04%
Net Income	-2.48M	-1.79M	-10.39M	11.78M	16.97M	8.11M	162.21M	188.04M	120.04M	117.68M
Depreciation & Amortization	3K	2K	2K	17.41M	28.75M	41.85M	69.83M	72.22M	73.36M	75.48M
Stock-Based Compensation	91K	97K	115K	202K	324K	284K	-1.27M	0	1.75M	1.06M
Deferred Taxes	-254K	-477K	-2.4M	22K	1.71M	0	0	0	0	0
Other Non-Cash Items	247K	305K	111K	-518K	4.54M	30.02M	-22.5M	-65.81M	-953K	-10.77M
Working Capital Changes	-418K	784K	-5.16M	6.82M	-764K	9.05M	6.58M	14.41M	-19.16M	-664K
Change in Receivables	-205K	204K	-6.55M	-995K	-5.42M	149K	-62K	168K	0	100K
Change in Inventory	0	0	-1.04M	126K	-1.77M	-970K	-2.8M	1.19M	169K	267K
Change in Payables	0	579K	272K	516K	-10K	2.79M	-1.36M	-222K	1.71M	-1.51M
Cash from Investing+	-208K	-1.2M	-77.71M	-584.43M	-291.54M	-691.39M	-265.93M	-5K	-2K	-4K
Capital Expenditures	-209K	-1.2M	-77.71M	-584.43M	-291.54M	-691.39M	-265.93M	-5K	-2K	-4K
CapEx % of Revenue	-	-	2.84%	7.57%	2.43%	4.2%	0.77%	0%	0%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	1K	0	0	-2.96M	-10K	0	0	0	0	0
Cash from Financing+	8K	0	103.96M	593.86M	314M	603.32M	123.1M	-77.75M	-96.54M	-155.61M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	-5.41M	-10.82M	-98.93M	-186.09M	-181.22M	-161.67M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	0	295.31M	-5.01M	-17.54M	-3.34M	12.66M	-9.14M	7.37M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-3.02M	-2.28M	-95.44M	-548.72M	-240.02M	-602.09M	-51.09M	208.86M	175.03M	182.79M
FCF Margin %	-	-	-3.49%	-7.11%	-2%	-3.66%	-0.15%	0.6%	0.47%	0.51%
FCF Growth %	-0.67%	0.24%	-40.8%	-4.75%	0.56%	-1.51%	0.92%	5.09%	-0.16%	0.04%
FCF per Share	-0.24	-0.18	-3.10	-13.52	-4.42	-11.09	-0.96	3.90	3.24	3.38
FCF Conversion (FCF/Net Income)	1.13x	0.60x	1.70x	3.03x	3.04x	11.02x	1.32x	1.11x	1.46x	1.55x
Interest Paid	0	0	61K	0	35.95M	37.08M	49M	0	112.53M	105.11M
Taxes Paid	0	0	5K	0	58K	176K	145K	0	55K	132K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-1.19%	-0.87%	-2.87%	1.75%	2.04%	0.97%	18.81%	20.93%	13.68%	14.23%
Return on Invested Capital (ROIC)	-0.79%	-0.53%	-2.15%	2.29%	3.03%	3.13%	6.77%	6.52%	7.18%	6.7%
Gross Margin	-	-	-37.49%	43.56%	52.11%	49.81%	60.87%	60.29%	61.35%	58.25%
Net Margin	-	-	-38.08%	15.26%	14.14%	4.93%	47.23%	54.05%	32.35%	33.02%
Debt / Equity	0.03x	0.03x	0.31x	0.55x	0.93x	1.71x	1.84x	1.89x	2.14x	2.24x
Interest Coverage	-8.36x	-4.73x	-53.91x	1.63x	1.62x	1.81x	3.58x	2.62x	2.00x	1.87x
FCF Conversion	1.13x	0.60x	1.70x	3.03x	3.04x	11.02x	1.32x	1.11x	1.46x	1.55x
Revenue Growth	-	-	-	182.52%	55.38%	37.09%	108.83%	1.3%	6.64%	-3.95%

Frequently Asked Questions

Valuation & Price

FLEX LNG Ltd. (FLNG) has a price-to-earnings (P/E) ratio of 12.4x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

FLEX LNG Ltd. (FLNG) reported $351.0M in revenue for fiscal year 2024.

FLEX LNG Ltd. (FLNG) saw revenue decline by 4.0% over the past year.

Yes, FLEX LNG Ltd. (FLNG) is profitable, generating $98.5M in net income for fiscal year 2024 (33.0% net margin).

Dividend & Returns

Yes, FLEX LNG Ltd. (FLNG) pays a dividend with a yield of 11.03%. This makes it attractive for income-focused investors.

FLEX LNG Ltd. (FLNG) has a return on equity (ROE) of 14.2%. This is reasonable for most industries.

FLEX LNG Ltd. (FLNG) generated $156.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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FLEX LNG Ltd. (FLNG) 10-Year Financial Performance & Capital Metrics

FLNG • • Industrial / General

EnergyMidstream Oil & GasLNG Infrastructure & ShippingLNG Carrier Operators

Revenue $356M -4.0%
EBITDA $273M -5.9%
Net Income $118M -2.0%
EPS (Diluted) 2.18 -1.8%
Gross Margin 58.25% -5.1%
EBITDA Margin 76.69% -2.1%
Operating Margin 55.51% -5.2%
Net Margin 33.02% +2.1%
ROE 14.23% +4.0%
ROIC 6.7% -6.7%
Debt/Equity 2.24 +5.0%
Interest Coverage 1.87 -6.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 47.3%
✓FCF machine: 51.3% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 24.3%
✓Good 3Y average ROE of 16.3%
✓Healthy 5Y average net margin of 34.3%

✗Weaknesses

✗High debt to equity ratio of 2.2x
✗Dividend payout exceeds 100% of earnings
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y24.33%

3Y1.24%

TTM-3.2%

Profit (Net Income) CAGR

10Y-

5Y47.31%

3Y-10.14%

TTM7.21%

EPS CAGR

10Y-

5Y47.71%

3Y-10.49%

TTM7.65%

ROCE

10Y Avg3.95%

5Y Avg7.44%

3Y Avg8.14%

Latest7.81%

Peer Comparison

LNG Carrier Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GLNGGolar LNG Limited	4.05B	39.53	82.35	-12.75%	17.96%	2.54%		0.62
FLNGFLEX LNG Ltd.	1.47B	27.12	12.44	-3.95%	28.05%	13.34%	12.46%	2.24
GLOP-PAGasLog Partners LP	1.19B	25.89	8.81	-10.45%	31.3%	12.15%	21.51%	0.08
DLNGDynagas LNG Partners LP	138.98M	3.82	3.64	-2.54%	37.92%	13%	66.29%	0.66
SEAL-PBSeapeak LLC		25.45	-27.36	-2.21%	-27.59%	-8.42%		1.21

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	0	27.33M	77.21M	119.97M	164.46M	343.45M	347.92M	371.02M	356.35M
Revenue Growth %	-	-	-	1.83%	0.55%	0.37%	1.09%	0.01%	0.07%	-0.04%
Cost of Goods Sold+	3K	2K	36.53M	43.57M	57.45M	82.54M	134.4M	138.16M	143.4M	148.77M
COGS % of Revenue	-	-	1.34%	0.56%	0.48%	0.5%	0.39%	0.4%	0.39%	0.42%
Gross Profit+	-815K	-743K	-10.24M	33.64M	62.51M	81.92M	209.04M	209.76M	227.62M	207.58M
Gross Margin %	-	-	-0.37%	0.44%	0.52%	0.5%	0.61%	0.6%	0.61%	0.58%
Gross Profit Growth %	0.06%	0.09%	-12.79%	4.28%	0.86%	0.31%	1.55%	0%	0.09%	-0.09%
Operating Expenses+	1.41M	727K	3.41M	4.64M	7.51M	6.3M	7.89M	9.15M	10.47M	9.79M
OpEx % of Revenue	-	-	0.12%	0.06%	0.06%	0.04%	0.02%	0.03%	0.03%	0.03%
Selling, General & Admin	1.41M	725K	3.41M	4.64M	7.51M	6.3M	7.89M	9.15M	10.47M	9.79M
SG&A % of Revenue	-	-	0.12%	0.06%	0.06%	0.04%	0.02%	0.03%	0.03%	0.03%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	3K	2K	2K	0	0	0	0	0	0	0
Operating Income+	-2.23M	-1.49M	-12.61M	29M	55.01M	75.62M	201.16M	200.62M	217.16M	197.79M
Operating Margin %	-	-	-0.46%	0.38%	0.46%	0.46%	0.59%	0.58%	0.59%	0.56%
Operating Income Growth %	0.14%	0.33%	-7.49%	3.3%	0.9%	0.37%	1.66%	-0%	0.08%	-0.09%
EBITDA+	-2.23M	-1.48M	-12.61M	46.41M	83.75M	117.47M	270.99M	272.84M	290.52M	273.27M
EBITDA Margin %	-	-	-0.46%	0.6%	0.7%	0.71%	0.79%	0.78%	0.78%	0.77%
EBITDA Growth %	0.14%	0.33%	-7.5%	4.68%	0.8%	0.4%	1.31%	0.01%	0.06%	-0.06%
D&A (Non-Cash Add-back)	3K	2K	2K	17.41M	28.75M	41.85M	69.83M	72.22M	73.36M	75.48M
EBIT	-2.21M	-1.48M	-10.16M	29.55M	51.02M	49.99M	218.53M	264.74M	228.84M	223.4M
Net Interest Income+	-247K	-305K	-111K	-17.17M	-32.91M	-41.48M	-56.04M	-74.59M	-103.86M	-101.12M
Interest Income	20K	9K	123K	607K	1.07M	327K	41K	2M	4.87M	4.47M
Interest Expense	267K	314K	234K	17.78M	33.88M	41.8M	56.22M	76.6M	108.72M	105.59M
Other Income/Expense	-247K	-305K	2.22M	-17.23M	-37.86M	-67.43M	-38.85M	-12.47M	-97.04M	-79.98M
Pretax Income+	-2.48M	-1.79M	-10.39M	11.77M	17.15M	8.19M	162.3M	188.14M	120.12M	117.82M
Pretax Margin %	-	-	-0.38%	0.15%	0.14%	0.05%	0.47%	0.54%	0.32%	0.33%
Income Tax+	7K	-1K	17K	-10K	182K	84K	99K	98K	78K	132K
Effective Tax Rate %	1%	1%	1%	1%	0.99%	0.99%	1%	1%	1%	1%
Net Income+	-2.48M	-1.79M	-10.41M	11.78M	16.97M	8.11M	162.21M	188.04M	120.04M	117.68M
Net Margin %	-	-	-0.38%	0.15%	0.14%	0.05%	0.47%	0.54%	0.32%	0.33%
Net Income Growth %	0.06%	0.28%	-4.82%	2.13%	0.44%	-0.52%	19.01%	0.16%	-0.36%	-0.02%
Net Income (Continuing)	-2.48M	-1.79M	-10.41M	11.78M	16.97M	8.11M	162.21M	188.04M	120.04M	117.68M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.19	-0.14	-0.34	0.29	0.31	0.15	3.04	3.51	2.22	2.18
EPS Growth %	0.1%	0.26%	-1.43%	1.85%	0.07%	-0.52%	19.27%	0.15%	-0.37%	-0.02%
EPS (Basic)	-0.20	-0.14	-0.34	0.29	0.31	0.15	3.04	3.53	2.24	2.19
Diluted Shares Outstanding	12.78M	12.79M	30.76M	40.59M	54.25M	54.27M	53.34M	53.52M	53.99M	54.03M
Basic Shares Outstanding	12.43M	12.79M	30.61M	40.45M	54.11M	54.1M	53.32M	53.2M	53.7M	53.85M
Dividend Payout Ratio	-	-	-	-	0.32%	1.33%	0.61%	0.99%	1.21%	1.37%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	3.97M	1.66M	17.57M	60.42M	143.89M	157.84M	224.89M	354.05M	443.06M	474.38M
Cash & Short-Term Investments	3.72M	1.44M	9.96M	54.93M	129M	128.88M	200.65M	332.33M	410.43M	437.15M
Cash Only	3.72M	1.44M	9.96M	54.93M	129M	128.88M	200.65M	332.33M	410.43M	437.15M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	250K	46K	486K	3.9M	5.42M	4.05M	5.27M	4.86M	19.93M	1.4M
Days Sales Outstanding	-	-	6.49	18.41	16.51	8.99	5.6	5.1	19.6	1.44
Inventory	0	0	1.04M	915K	2.69M	3.66M	6.45M	5.26M	5.09M	4.82M
Days Inventory Outstanding	-	-	10.4	7.66	17.06	16.17	17.52	13.9	12.96	11.84
Other Current Assets	0	0	486K	165K	3.99M	9.92M	10.03M	5.66M	119K	24.25M
Total Non-Current Assets+	211.27M	212.47M	666.94M	1.23B	1.5B	2.15B	2.35B	2.33B	2.27B	2.19B
Property, Plant & Equipment	211.27M	212.47M	666.94M	1.23B	1.15B	1.86B	2.34B	2.27B	2.22B	2.15B
Fixed Asset Turnover	-	-	0.04x	0.06x	0.10x	0.09x	0.15x	0.15x	0.17x	0.17x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	636K	109K	5.86M	55.52M	48.83M	40.09M
Other Non-Current Assets	0	0	0	0	349.47M	289.6M	0	0	0	0
Total Assets+	215.25M	214.13M	684.51M	1.29B	1.64B	2.3B	2.57B	2.68B	2.71B	2.67B
Asset Turnover	-	-	0.04x	0.06x	0.07x	0.07x	0.13x	0.13x	0.14x	0.13x
Asset Growth %	-0.01%	-0.01%	2.2%	0.89%	0.27%	0.4%	0.12%	0.04%	0.01%	-0.01%
Total Current Liabilities+	613K	1.19M	4.41M	35.46M	57.73M	131.83M	131.59M	153.2M	153.27M	158.78M
Accounts Payable	15K	46K	76K	592K	582K	3.37M	2.02M	1.79M	3.51M	2M
Days Payables Outstanding	1.82K	8.39K	0.76	4.96	3.7	14.92	5.47	4.74	8.93	4.91
Short-Term Debt	0	0	0	23.36M	36.94M	87.9M	86.24M	95.51M	103.87M	106.71M
Deferred Revenue (Current)	0	0	1000K	1000K	0	0	0	0	1000K	0
Other Current Liabilities	0	0	58K	2.3M	13.29M	26.25M	30.41M	34.89M	482K	49.6M
Current Ratio	6.48x	1.39x	3.99x	1.70x	2.49x	1.20x	1.71x	2.31x	2.89x	2.99x
Quick Ratio	6.48x	1.39x	3.75x	1.68x	2.45x	1.17x	1.66x	2.28x	2.86x	2.96x
Cash Conversion Cycle	-	-	16.13	21.12	29.87	10.24	17.65	14.25	23.63	8.36
Total Non-Current Liabilities+	7M	7M	160M	431.6M	744.28M	1.34B	1.55B	1.62B	1.71B	1.7B
Long-Term Debt	7M	7M	160M	431.6M	302.36M	757.19M	841.5M	1.02B	1.71B	676.89M
Capital Lease Obligations	0	0	0	155.53M	441.92M	579.82M	710.45M	597.8M	0	1.03B
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	-155.53M	2K	0	1	0	0	0
Total Liabilities	7.61M	8.19M	164.41M	467.06M	802.02M	1.47B	1.68B	1.77B	1.86B	1.86B
Total Debt+	7M	7M	160M	454.97M	781.22M	1.42B	1.64B	1.71B	1.81B	1.81B
Net Debt	3.28M	5.56M	150.04M	400.04M	652.22M	1.3B	1.44B	1.38B	1.4B	1.37B
Debt / Equity	0.03x	0.03x	0.31x	0.55x	0.93x	1.71x	1.84x	1.89x	2.14x	2.24x
Debt / EBITDA	-	-	-	9.80x	9.33x	12.13x	6.05x	6.28x	6.24x	6.62x
Net Debt / EBITDA	-	-	-	8.62x	7.79x	11.03x	5.30x	5.07x	4.82x	5.02x
Interest Coverage	-8.36x	-4.73x	-53.91x	1.63x	1.62x	1.81x	3.58x	2.62x	2.00x	1.87x
Total Equity+	207.63M	205.94M	520.1M	827.32M	839.26M	835.17M	889.39M	907.09M	847.65M	806.63M
Equity Growth %	-0.01%	-0.01%	1.53%	0.59%	0.01%	-0%	0.06%	0.02%	-0.07%	-0.05%
Book Value per Share	16.24	16.10	16.91	20.38	15.47	15.39	16.67	16.95	15.70	14.93
Total Shareholders' Equity	207.63M	205.94M	520.1M	827.32M	839.26M	835.17M	889.39M	907.09M	847.65M	806.63M
Common Stock	1.28M	1.28M	3.68M	5.41M	5.41M	5.41M	5.41M	5.45M	5.45M	545K
Retained Earnings	-367.33M	-369.12M	-379.53M	-367.75M	-356.19M	-358.91M	-295.63M	-293.69M	-354.87M	-277.49M
Treasury Stock	0	0	0	0	0	-1.66M	-9.45M	-8.08M	-7.56M	-4.22M
Accumulated OCI	-4K	-3K	-5K	-17.41M	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-2.81M	-1.08M	-17.72M	35.71M	51.53M	89.3M	214.84M	208.87M	175.03M	182.8M
Operating CF Margin %	-	-	-0.65%	0.46%	0.43%	0.54%	0.63%	0.6%	0.47%	0.51%
Operating CF Growth %	-1.23%	0.62%	-15.43%	3.02%	0.44%	0.73%	1.41%	-0.03%	-0.16%	0.04%
Net Income	-2.48M	-1.79M	-10.39M	11.78M	16.97M	8.11M	162.21M	188.04M	120.04M	117.68M
Depreciation & Amortization	3K	2K	2K	17.41M	28.75M	41.85M	69.83M	72.22M	73.36M	75.48M
Stock-Based Compensation	91K	97K	115K	202K	324K	284K	-1.27M	0	1.75M	1.06M
Deferred Taxes	-254K	-477K	-2.4M	22K	1.71M	0	0	0	0	0
Other Non-Cash Items	247K	305K	111K	-518K	4.54M	30.02M	-22.5M	-65.81M	-953K	-10.77M
Working Capital Changes	-418K	784K	-5.16M	6.82M	-764K	9.05M	6.58M	14.41M	-19.16M	-664K
Change in Receivables	-205K	204K	-6.55M	-995K	-5.42M	149K	-62K	168K	0	100K
Change in Inventory	0	0	-1.04M	126K	-1.77M	-970K	-2.8M	1.19M	169K	267K
Change in Payables	0	579K	272K	516K	-10K	2.79M	-1.36M	-222K	1.71M	-1.51M
Cash from Investing+	-208K	-1.2M	-77.71M	-584.43M	-291.54M	-691.39M	-265.93M	-5K	-2K	-4K
Capital Expenditures	-209K	-1.2M	-77.71M	-584.43M	-291.54M	-691.39M	-265.93M	-5K	-2K	-4K
CapEx % of Revenue	-	-	2.84%	7.57%	2.43%	4.2%	0.77%	0%	0%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	1K	0	0	-2.96M	-10K	0	0	0	0	0
Cash from Financing+	8K	0	103.96M	593.86M	314M	603.32M	123.1M	-77.75M	-96.54M	-155.61M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	-5.41M	-10.82M	-98.93M	-186.09M	-181.22M	-161.67M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	0	295.31M	-5.01M	-17.54M	-3.34M	12.66M	-9.14M	7.37M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-3.02M	-2.28M	-95.44M	-548.72M	-240.02M	-602.09M	-51.09M	208.86M	175.03M	182.79M
FCF Margin %	-	-	-3.49%	-7.11%	-2%	-3.66%	-0.15%	0.6%	0.47%	0.51%
FCF Growth %	-0.67%	0.24%	-40.8%	-4.75%	0.56%	-1.51%	0.92%	5.09%	-0.16%	0.04%
FCF per Share	-0.24	-0.18	-3.10	-13.52	-4.42	-11.09	-0.96	3.90	3.24	3.38
FCF Conversion (FCF/Net Income)	1.13x	0.60x	1.70x	3.03x	3.04x	11.02x	1.32x	1.11x	1.46x	1.55x
Interest Paid	0	0	61K	0	35.95M	37.08M	49M	0	112.53M	105.11M
Taxes Paid	0	0	5K	0	58K	176K	145K	0	55K	132K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-1.19%	-0.87%	-2.87%	1.75%	2.04%	0.97%	18.81%	20.93%	13.68%	14.23%
Return on Invested Capital (ROIC)	-0.79%	-0.53%	-2.15%	2.29%	3.03%	3.13%	6.77%	6.52%	7.18%	6.7%
Gross Margin	-	-	-37.49%	43.56%	52.11%	49.81%	60.87%	60.29%	61.35%	58.25%
Net Margin	-	-	-38.08%	15.26%	14.14%	4.93%	47.23%	54.05%	32.35%	33.02%
Debt / Equity	0.03x	0.03x	0.31x	0.55x	0.93x	1.71x	1.84x	1.89x	2.14x	2.24x
Interest Coverage	-8.36x	-4.73x	-53.91x	1.63x	1.62x	1.81x	3.58x	2.62x	2.00x	1.87x
FCF Conversion	1.13x	0.60x	1.70x	3.03x	3.04x	11.02x	1.32x	1.11x	1.46x	1.55x
Revenue Growth	-	-	-	182.52%	55.38%	37.09%	108.83%	1.3%	6.64%	-3.95%

Frequently Asked Questions

Valuation & Price

FLEX LNG Ltd. (FLNG) has a price-to-earnings (P/E) ratio of 12.4x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

FLEX LNG Ltd. (FLNG) reported $351.0M in revenue for fiscal year 2024.

FLEX LNG Ltd. (FLNG) saw revenue decline by 4.0% over the past year.

Yes, FLEX LNG Ltd. (FLNG) is profitable, generating $98.5M in net income for fiscal year 2024 (33.0% net margin).

Dividend & Returns

Yes, FLEX LNG Ltd. (FLNG) pays a dividend with a yield of 11.03%. This makes it attractive for income-focused investors.

FLEX LNG Ltd. (FLNG) has a return on equity (ROE) of 14.2%. This is reasonable for most industries.

FLEX LNG Ltd. (FLNG) generated $156.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.