FLEX LNG Ltd. (FLNG) Financial Ratios
18 years of historical data (2008–2025) · Energy · Oil & Gas Midstream
EV/EBITDA
↑
11.92
+14% vs avg
5yr avg: 10.42
30Y Low9.6·High21.6
P/FCF
↑
11.93
↑+40% vs avg
5yr avg: 8.53
30Y Low6.8·High10.0
P/B Ratio
↑
2.24
↑+30% vs avg
5yr avg: 1.72
30Y Low0.6·High1.9
ROE
↓
9.8%
↑-37% vs avg
5yr avg: 15.5%
30Y Low-186%·High189%
Debt/EBITDA
↑
7.32
+13% vs avg
5yr avg: 6.50
30Y Low6.0·High12.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
FLNG Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
FLEX LNG Ltd. trades at 21.6x earnings, 83% above its 5-year average of 11.7x, sitting at the 63rd percentile of its historical range. Compared to the Energy sector median P/E of 15.5x, the stock trades at a premium of 39%. On a free-cash-flow basis, the stock trades at 11.9x P/FCF, 40% above the 5-year average of 8.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.6B | $1.3B | $1.2B | $1.6B | $1.7B | $1.3B | $475M | $591M | $601M | — | — |
| Enterprise Value | $3.0B | $2.8B | $2.6B | $3.0B | $3.1B | $2.7B | $1.8B | $1.2B | $1.0B | — | — |
| P/E Ratio → | 21.55 | 18.08 | 10.52 | 13.09 | 9.31 | 7.73 | 58.33 | 35.16 | 51.03 | — | — |
| P/S Ratio | 4.63 | 3.88 | 3.48 | 4.23 | 5.03 | 3.65 | 2.89 | 4.93 | 7.78 | — | — |
| P/B Ratio | 2.24 | 1.88 | 1.54 | 1.85 | 1.93 | 1.41 | 0.57 | 0.70 | 0.73 | — | — |
| P/FCF | 11.93 | 10.01 | 6.78 | 8.96 | 8.38 | — | — | — | — | — | — |
| P/OCF | 11.93 | 10.01 | 6.78 | 8.96 | 8.38 | 5.83 | 5.32 | 11.48 | 16.82 | — | — |
P/E links to full P/E history page with 30-year chart
FLNG EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
FLEX LNG Ltd.'s enterprise value stands at 11.9x EBITDA, 14% above its 5-year average of 10.4x. The Energy sector median is 7.8x, placing the stock at a 52% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 7.91 | 7.33 | 8.01 | 9.00 | 7.83 | 10.77 | 10.37 | 12.96 | — | — |
| EV / EBITDA | 11.92 | 10.89 | 9.56 | 10.22 | 11.48 | 9.93 | 15.08 | 14.85 | 21.56 | — | — |
| EV / EBIT | 17.12 | 16.42 | 11.69 | 12.98 | 11.83 | 12.31 | 35.42 | 24.37 | 33.87 | — | — |
| EV / FCF | — | 20.39 | 14.29 | 16.97 | 15.00 | — | — | — | — | — | — |
FLNG Profitability
Margins and return-on-capital ratios measuring operating efficiency
FLEX LNG Ltd. earns an operating margin of 50.6%, significantly above the Energy sector average of 13.8%. Operating margins have compressed from 58.5% to 50.6% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 9.8% is modest. ROIC of 6.1% represents adequate returns on invested capital versus a sector median of 6.2%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 52.9% | 52.9% | 58.3% | 61.4% | 60.3% | 60.9% | 49.8% | 52.1% | 43.6% | -37.5% | — |
| Operating Margin | 50.6% | 50.6% | 55.5% | 58.5% | 57.7% | 58.6% | 46.0% | 45.9% | 37.6% | -46.2% | — |
| Net Profit Margin | 21.5% | 21.5% | 33.0% | 32.4% | 54.0% | 47.2% | 4.9% | 14.1% | 15.3% | -38.1% | — |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.8% | 9.8% | 14.2% | 13.7% | 20.9% | 18.8% | 1.0% | 2.0% | 1.7% | -2.9% | -0.9% |
| ROA | 2.8% | 2.8% | 4.4% | 4.5% | 7.2% | 6.7% | 0.4% | 1.2% | 1.2% | -2.3% | -0.8% |
| ROIC | 6.1% | 6.1% | 6.7% | 7.2% | 6.5% | 6.8% | 3.1% | 3.0% | 2.3% | -2.1% | -0.5% |
| ROCE | 7.1% | 7.1% | 7.8% | 8.5% | 8.1% | 8.7% | 4.0% | 3.9% | 3.0% | -2.8% | -0.7% |
FLNG Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
FLEX LNG Ltd. carries a Debt/EBITDA ratio of 7.3x, which is highly leveraged (181% above the sector average of 2.6x). Net debt stands at $1.4B ($1.8B total debt minus $448M cash). Interest coverage of just 1.8x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.57 | 2.57 | 2.24 | 2.14 | 1.89 | 1.84 | 1.71 | 0.93 | 0.55 | 0.31 | 0.03 |
| Debt / EBITDA | 7.32 | 7.32 | 6.62 | 6.24 | 6.28 | 6.05 | 12.13 | 9.33 | 9.80 | — | — |
| Net Debt / Equity | — | 1.95 | 1.70 | 1.65 | 1.52 | 1.62 | 1.55 | 0.78 | 0.48 | 0.29 | 0.03 |
| Net Debt / EBITDA | 5.55 | 5.55 | 5.02 | 4.82 | 5.07 | 5.30 | 11.03 | 7.79 | 8.62 | — | — |
| Debt / FCF | — | 10.39 | 7.51 | 8.01 | 6.62 | — | — | — | — | — | — |
| Interest Coverage | 1.81 | 1.81 | 2.12 | 2.10 | 3.46 | 3.89 | 1.20 | 1.51 | 1.66 | -43.41 | -4.70 |
FLNG Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
FLEX LNG Ltd.'s current ratio of 3.03x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 2.89x to 3.03x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.03 | 3.03 | 2.99 | 2.89 | 2.31 | 1.71 | 1.20 | 2.49 | 1.70 | 3.99 | 1.39 |
| Quick Ratio | 2.98 | 2.98 | 2.96 | 2.86 | 2.28 | 1.66 | 1.17 | 2.45 | 1.68 | 3.75 | 1.39 |
| Cash Ratio | 2.70 | 2.70 | 2.75 | 2.68 | 2.17 | 1.52 | 0.98 | 2.23 | 1.55 | 2.26 | 1.21 |
| Asset Turnover | — | 0.13 | 0.13 | 0.14 | 0.13 | 0.13 | 0.07 | 0.07 | 0.06 | 0.04 | — |
| Inventory Turnover | 18.20 | 18.20 | 30.84 | 28.17 | 26.27 | 20.83 | 22.58 | 21.39 | 47.62 | 35.10 | — |
| Days Sales Outstanding | — | 0.36 | 1.44 | 19.60 | 5.10 | 5.60 | 8.99 | 16.51 | 18.41 | 6.49 | — |
FLNG Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
FLEX LNG Ltd. returns 10.1% to shareholders annually primarily through dividends. The payout ratio exceeds 100% at 216.9%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 4.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 10.1% | 12.0% | 13.0% | 9.2% | 10.6% | 7.9% | 2.3% | 0.9% | — | — | — |
| Payout Ratio | 216.9% | 216.9% | 137.4% | 120.8% | 99.0% | 61.0% | 133.5% | 31.9% | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.6% | 5.5% | 9.5% | 7.6% | 10.7% | 12.9% | 1.7% | 2.8% | 2.0% | — | — |
| FCF Yield | 8.4% | 10.0% | 14.7% | 11.2% | 11.9% | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.6% | 0.3% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 10.1% | 12.0% | 13.0% | 9.2% | 10.6% | 8.5% | 2.6% | 0.9% | 0.0% | — | — |
| Shares Outstanding | — | $54M | $54M | $54M | $54M | $53M | $54M | $54M | $41M | $31M | $13M |
Peer Comparison
Compare FLNG with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 FLNGYou | $2B | 21.6 | 11.9 | 11.9 | 52.9% | 50.6% | 9.8% | 6.1% | 7.3 |
 GLNG | $5B | 76.3 | 35.9 | — | 46.9% | 34.4% | 3.0% | 2.9% | 14.9 |
 CLCO | $511M | 5.3 | 7.4 | — | 76.0% | 50.5% | 12.5% | 6.7% | 5.9 |
 DLNG | $128M | 2.1 | 3.4 | — | 53.6% | 48.1% | 12.9% | 7.8% | 2.6 |
 TK | $1B | 10.4 | 0.5 | 9.5 | 27.5% | 21.8% | 4.8% | 12.0% | 0.2 |
 TNK | $3B | 7.4 | 6.0 | 22.9 | 27.5% | 22.6% | 18.5% | 12.5% | 0.2 |
 STNG | $4B | 11.5 | 8.2 | 8.5 | 46.2% | 33.0% | 11.4% | 7.2% | 1.3 |
 INSW | $4B | 13.6 | 9.9 | 109.7 | 42.3% | 36.3% | 16.0% | 9.4% | 1.2 |
 NAT | $1B | 100.9 | 18.6 | — | 19.8% | 9.9% | 2.6% | 2.8% | 4.9 |
 ASC | $697M | 19.4 | 6.8 | — | 34.2% | 26.1% | 6.5% | 9.0% | 1.1 |
 LNG | $48B | 9.4 | 10.3 | 19.3 | 29.0% | 27.0% | 46.1% | 10.9% | 3.9 |
| Energy Median | — | 15.5 | 7.8 | 13.8 | 33.7% | 13.8% | 7.2% | 6.2% | 2.6 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 18 years · Updated daily
Consensus-Based Analysis Tools
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
FLNG — Frequently Asked Questions
Quick answers to the most common questions about buying FLNG stock.
What is FLEX LNG Ltd.'s P/E ratio?
FLEX LNG Ltd.'s current P/E ratio is 21.6x. The historical average is 25.4x. This places it at the 63th percentile of its historical range.
What is FLEX LNG Ltd.'s EV/EBITDA?
FLEX LNG Ltd.'s current EV/EBITDA is 11.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.9x.
What is FLEX LNG Ltd.'s ROE?
FLEX LNG Ltd.'s return on equity (ROE) is 9.8%. The historical average is 1.0%.
Is FLNG stock overvalued?
Based on historical data, FLEX LNG Ltd. is trading at a P/E of 21.6x. This is at the 63th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is FLEX LNG Ltd.'s dividend yield?
FLEX LNG Ltd.'s current dividend yield is 10.09% with a payout ratio of 216.9%.
What are FLEX LNG Ltd.'s profit margins?
FLEX LNG Ltd. has 52.9% gross margin and 50.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does FLEX LNG Ltd. have?
FLEX LNG Ltd.'s Debt/EBITDA ratio is 7.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.