Frontline Ltd. (FRO) Earnings History
Earnings Pressure32 years of earnings data (1994–2025) · 5-year EPS trend is negative
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Frontline Ltd. (FRO) Earnings Overview
As of June 23, 2026, Frontline Ltd. (FRO) reported trailing twelve-month net income of $905M, reflecting -23.8% year-over-year growth. The company earned $4.06 per diluted share over the past four quarters, with a net profit margin of 19.3%.
Looking at the long-term picture, FRO's 5-year EPS compound annual growth rate (CAGR) stands at -4.0%, signaling declining earnings. The company achieved its highest annual net income of $1.02B in fiscal 2004.
Frontline Ltd. maintains industry-leading profitability with a gross margin of 32.8%, operating margin of 30.2%, and net margin of 19.3%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including DHT ($331M net income, 42.5% margin), INSW ($546M net income, 36.7% margin), TEN ($142M net income, 20.1% margin), FRO has room to improve margins relative to the peer group. Compare FRO vs DHT →
FRO Earnings vs Peers
Earnings metrics vs comparable public companies
FRO Historical Earnings Data (1994–2025)
32 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $379M | -23.5% | $593M | $1.70 | 19.3% | 30.2% |
| 2024 | $496M | -24.5% | $782M | $2.23 | 24.2% | 38.1% |
| 2023 | $656M | +38.0% | $747M | $2.95 | 36.4% | 41.4% |
| 2022 | $476M | +3278.5% | $446M | $2.22 | 33.2% | 31.2% |
| 2021 | -$15M | -103.6% | $8M | $-0.06 | -2.0% | 1.1% |
| 2020 | $413M | +195.0% | $508M | $2.09 | 33.8% | 41.6% |
| 2019 | $140M | +1676.3% | $240M | $0.78 | 14.6% | 25.0% |
| 2018 | -$9M | +96.6% | $83M | $-0.05 | -1.2% | 11.1% |
| 2017 | -$265M | -326.4% | -$196M | $-1.56 | -41.0% | -30.4% |
| 2016 | $117M | -24.3% | $177M | $0.75 | 15.5% | 23.5% |
| 2015 | $155M | +3.4% | $287M | $1.29 | 33.7% | 62.6% |
| 2014 | $149M | +179.3% | $121M | $-1.30 | 61.8% | 49.9% |
| 2013 | -$189M | -127.8% | -$100M | $-11.82 | -36.4% | -19.4% |
| 2012 | -$83M | +84.4% | $19M | $-5.31 | -14.3% | 3.3% |
| 2011 | -$530M | -428.1% | -$407M | $-34.01 | -73.2% | -56.2% |
| 2010 | $161M | +57.2% | $308M | $10.05 | 13.9% | 26.4% |
| 2009 | $103M | -85.3% | $223M | $6.60 | 9.2% | 20.0% |
| 2008 | $699M | +22.5% | $850M | $45.70 | 31.1% | 37.9% |
| 2007 | $570M | +10.5% | $519M | $38.10 | 40.2% | 36.6% |
| 2006 | $516M | -15.0% | $803M | $34.50 | 33.1% | 51.6% |
| 2005 | $607M | -40.7% | $858M | $40.55 | 40.6% | 57.4% |
| 2004 | $1.02B | +150.0% | $1.13B | $61.05 | 55.5% | 61.1% |
| 2003 | $409M | +4700.1% | $481M | $27.35 | 35.3% | 41.5% |
| 2002 | -$9M | -102.3% | $92M | $-0.58 | -1.6% | 16.7% |
| 2001 | $383M | +21.9% | $374M | $24.90 | 53.6% | 52.4% |
| 2000 | $314M | +461.2% | $468M | $21.35 | 52.3% | 78.0% |
| 1999 | -$87M | -372.8% | $117M | $-8.80 | -34.3% | 46.2% |
| 1998 | $32M | +83.1% | $126M | $1.75 | 15.6% | 61.6% |
| 1997 | $17M | +224.3% | $55M | $1.89 | 6.7% | 21.3% |
| 1996 | -$14M | -877.8% | -$1M | $0.12 | -7.9% | -0.6% |
| 1995 | $2M | -78.6% | $7M | $0.55 | 5.4% | 20.3% |
| 1994 | $8M | - | $9M | $0.27 | 28.8% | 31.5% |
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Full Stock Analysis
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Peer Comparison
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FRO — Frequently Asked Questions
Quick answers to the most common questions about buying FRO stock.
What is FRO earnings per share (EPS)?
FRO trailing twelve-month (TTM) diluted EPS is $4.06, reflecting -23.8% year-over-year growth. The 5-year EPS CAGR is -4.0%. Complete EPS history from 1994 to 2025 is available in the table on this page.
What is Frontline Ltd.'s net income?
Frontline Ltd. (FRO) trailing twelve-month net income is $905M as of 2025. Earnings declined -23.8% year-over-year. Frontline Ltd. has been profitable for 4 consecutive years.
Is FRO profitable?
Yes, FRO is profitable with a TTM net income of $905M and a net profit margin of +19.3%. Frontline Ltd. has generated profits for 4 consecutive years.
What is FRO's earnings growth rate?
FRO compound annual EPS growth rates (CAGR): 1-Year: -23.8%, 3-Year: -8.5%, 5-Year: -4.0%, 10-Year: +2.8%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1994 to 2025.
What are FRO's profit margins?
Frontline Ltd. net profit margin is +19.3%, operating margin is +30.2%, and gross margin is +32.8%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +15.6%.
Is FRO growing earnings?
FRO earnings are declining — EPS fell -23.8% year-over-year. TTM net income dropped to $905M. This contrasts with the 5-year CAGR of -4.0%.
What was FRO's best earnings year?
Frontline Ltd.'s highest annual net income on record is $1.0B, achieved in fiscal year 2004. Earnings history on this page spans 1994 to 2025 and includes all annual and quarterly figures.
What were FRO's earnings last quarter?
FRO's most recent reported quarter was Q1 2026. Net income was $559M with diluted EPS of $2.51. For a full breakdown of all quarters, see the quarterly earnings table on this page.