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FROFrontline Ltd.
$47.56$10.6B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
FRO logo

Frontline Ltd.

FRO
NYSE · Midstream Oil & Gas
$47.56
At close - Sep 23, 4:00 PM EDT - USD
Market Cap$10.59B
P/E28.0x
52W High$54.92
Volume5.01M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Cyclical Windfall Drives Record Margins, But Volatility Persists

Frontline is experiencing a powerful cyclical upswing, with 2026Q2 revenue surging 96.5% year-over-year and gross margins expanding to a peak of 64.5%, driven by a re-rating in tanker rates. This profitability has enabled significant deleveraging, reducing the...

GrowthAccelerating
ProfitabilityStrong
ValuationAttractive
TechnicalsHealthy
Explore valuation models
MARKET ACTION

FRO price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

3/12 Beats

EPS beat 3 of last 12 quarters

02

Valuation risk

+112% Peers

P/E is 112% above peer median

03

Market leadership

RS 94 · Leader

High momentum (Outperforming 94% of market)

04

Healthy Uptrend

Uptrend

Price > 50DMA > 200DMA

Next CatalystEstimated earnings · Nov 28
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue growth has accelerated to 96.5% year-over-year in 2026Q2, with gross margins expanding from a trough of 24.3% in 2025Q3 to a cyclical peak of 64.5%, indicating exceptional pricing power in the current market cycle.

Analyst Consensus+47.2% target
Hold(22 analysts)
8 Buy10 Hold4 Sell

The Bull Case

Upside Catalysts

Cyclical rate shock

Frontline benefits from a rare convergence of cyclical rate shocks in the tanker market, driven by Middle East disruptions and increased demand for VLCCs.

Structural supply scarcity

The tanker market faces structural supply scarcity, with VLCCs being absorbed by waiting time, rerouting, and congestion, rather than just responding to crude export volumes.

Elevated spot rates

The bull case assumes sustained elevated spot rates, which would significantly boost Frontline's revenue and profitability.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
FRO+160.20%
S&P 500 (^GSPC)+12.39%
1-Year Return
FRO+123.73%
S&P 500 (^GSPC)+15.77%
3-Year Return
FRO+209.83%
S&P 500 (^GSPC)+72.66%
5-Year Return
FRO+633.95%
S&P 500 (^GSPC)+74.13%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
28.0x
Forward P/EExpansion
4.7x
EV/EBITDA80th %ile
14.6x
FCF YieldCash Flow
6.3%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
28.0x
6.8x
100th· High
EV/EBITDA
14.6x
7.8x
80th· High
Price/FCF
15.8x
49.1x
50th· Fair
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$56.35+18.5%
Base (Fair)$95.82+86.3%
Bull$171.75+261.1%
$56.35 Bear$95.82 Base$171.75 Bull
Current Market Price: $47.56
Trades at a 50.4% discount to Base DCF ($95.82)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$1.97B-4.2% YoY
Net income
$379M-23.5% YoY
Free cash flow
$670M+474.6% YoY
Operating margin
30.2%-8.0 pts YoY
ROIC (TTM)8.1%
Avg ROIC 5Y-
ROE (TTM)15.6%
Piotroski Score7 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate3/12 (25%)
Revenue Beat Rate4/12 (33%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 28, 2026
$2.96+8.0%
vs $2.74
$753M-0.7%
vs $759M
Q2 2026
May 22, 2026
$2.51+2.9%
vs $2.44
$537M-7.4%
vs $580M
Q1 2026
Feb 27, 2026
$1.03-10.4%
vs $1.15
$425M-7.1%
vs $457M
Q4 2025
Nov 21, 2025
$0.18-32.6%
vs $0.27
$248M-5.3%
vs $262M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Seeking Alpha·4d ago
Our Top 10 High Growth Dividend Stocks - September 2026

The article provides a methodology for selecting high-growth dividend-paying stocks, focusing on dividend growth and sustainability rather than high current yield. We use our proprietary models to rate both quantitatively and qualitatively and select the top 10 names from an initial list of nearly 500 dividend stocks. The final list of ten stocks is chosen based on sector diversity, high-growth quality scores, and positive momentum and is suitable for investors in the accumulation phase.

PRNewsWire·6d ago
New Research on Frontline Workers Finds Widening Expectation Gap in Schedule Flexibility, Pay Clarity and Digital Tools

Frontline Worker Research from DailyPay and Workday Reveals Closing This Gap Unlocks Key Advantages in Recruiting, Retention and Productivity NEW YORK, Sept. 17, 2026 /PRNewswire/ -- DailyPay, the leader in On-Demand Pay, and Workday, Inc. (NASDAQ: WDAY), the enterprise AI platform for HR, finance and IT, today released "The Frontline Worker Expectation Gap," new research that shows a significant gap between what frontline workers expect and what their employers provide.

Defense World·Sep 15, 2026
Frontline (NYSE:FRO) Hits New 1-Year High – What’s Next?

Frontline PLC (NYSE: FRO - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday. The stock traded as high as $50.78 and last traded at $50.5480, with a volume of 4002429 shares traded. The stock had previously closed at $49.21. Wall Street Analysts Forecast Growth Several equities analysts have

Zacks Investment Research·Sep 14, 2026
Want to Look Beyond AI? Watch These Freight ETFs Skyrocketing YTD

Freight ETFs are surging as Middle East disruptions send tanker rates soaring, with BWET up over 3,700% YTD and shipping earnings at record levels.

Filtered for Frontline Ltd.More Headlines
04

Compare before deciding

Benchmark FRO against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Frontline Ltd. (FRO)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
FRO logoFROFrontline Ltd.Current
$47.56$10.59B27.98-4.16%19.29%15.63%1.96%
DHT logoDHTDHT Holdings, Inc.
$21.28$3.43B16.24-13.04%65.54%39.55%—
INSW logoINSWInternational Seaways, Inc.
$101.96$5.05B16.37-11.38%61.86%37.04%—
TEN logoTENTsakos Energy Navigation Limited
$47.00$1.42B10.56-0.67%28.75%13.95%—
STNG logoSTNGScorpio Tankers Inc.
$81.25$4.04B11.56-24.58%67.16%24.51%—
NAT logoNATNordic American Tankers Limited
$7.62$1.61B131.38-16.39%33.2%26.85%—

Compare FRO vs Peers

Frontline Ltd. (FRO) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs DHT

Most directly comparable listed peer for FRO.

Scale Benchmark

vs MATX

Larger-name benchmark to compare FRO against a more recognizable public peer.

Peer Set

Compare Top 5

vs DHT, INSW, TEN, STNG

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FRO Frequently Asked Questions

Frontline Ltd. (FRO) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Frontline Ltd.'s revenue?

Frontline Ltd. (FRO) reported $2.71B in revenue for fiscal year 2025. This represents a 1423% increase from $178.2M in 1996.

How fast is Frontline Ltd. growing?

Frontline Ltd. (FRO) saw revenue decline by 4.2% over the past year.

Is FRO profitable?

Yes, Frontline Ltd. (FRO) is profitable, generating $1.49B in net income for fiscal year 2025 (19.3% net margin).

Dividend & Returns
Does FRO pay dividends?

Yes, Frontline Ltd. (FRO) pays a dividend with a yield of 1.96%. This makes it attractive for income-focused investors.

What is FRO's return on equity?

Frontline Ltd. (FRO) has a return on equity (ROE) of 15.6%. This is reasonable for most industries.

What is Frontline Ltd.'s free cash flow?

Frontline Ltd. (FRO) generated $689.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in FRO back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →