Last 48 quarters of trend data · Energy · Oil & Gas Midstream
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Frontline Ltd.'s quarterly P/E stands at 3.5x, down 86.0% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 40.7% YoY to 5.6x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 24.08 | 3.47 | 5.35 | 31.65 | 11.72 | 24.75 | 11.82 | 21.16 | 7.67 | 7.22 | 9.46 | 9.78 | 3.49 |
| — | -86.0% | -54.8% | +49.6% | +52.9% | +243.0% | +25.0% | +116.3% | +119.5% | +56.9% | +236.5% | +147.0% | -63.7% | |
| P/S Ratio | 4.64 | 2.72 | 1.94 | 2.93 | 1.90 | 1.93 | 1.86 | 2.59 | 2.58 | 2.25 | 2.69 | 2.77 | 1.58 |
| — | +40.6% | +4.8% | +13.0% | -26.2% | -14.1% | -31.0% | -6.4% | +63.5% | +21.4% | +111.3% | +73.2% | +4.5% | |
| P/B Ratio | 3.63 | 2.73 | 1.93 | 2.18 | 1.54 | 1.42 | 1.35 | 2.17 | 2.36 | 2.19 | 1.96 | 1.88 | 1.41 |
| — | +92.4% | +43.3% | +0.7% | -34.7% | -35.2% | -31.1% | +15.3% | +67.8% | +32.0% | +64.7% | +55.7% | +48.0% | |
| P/FCF | 13.60 | 32.63 | 4.39 | 12.15 | 6.02 | 6.01 | 4.83 | 7.84 | 6.42 | — | — | — | 2.88 |
| — | +442.7% | -9.0% | +54.9% | -6.2% | — | — | — | +122.8% | — | — | — | — | |
| EV / EBITDA | 12.95 | 5.56 | 5.33 | 11.28 | 7.90 | 9.37 | 7.62 | 9.34 | 6.80 | 6.63 | 9.61 | 8.89 | 4.21 |
| — | -40.7% | -30.1% | +20.7% | +16.2% | +41.3% | -20.7% | +5.1% | +61.3% | +34.5% | +138.3% | +17.1% | -55.2% | |
| EV / EBIT | 20.13 | 6.70 | 6.85 | 20.17 | 12.31 | 16.67 | 11.46 | 14.48 | 8.80 | 8.87 | 11.42 | 10.55 | 4.96 |
| — | -59.8% | -40.2% | +39.3% | +40.0% | +88.0% | +0.3% | +37.3% | +77.2% | +48.6% | +159.2% | +50.1% | -69.7% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Frontline Ltd.'s operating margin was 51.8% in Q1 2026, up 7.3 pp QoQ and up 30.0 pp YoY. This marks the 3rd consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 36.5% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 123.2% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.8% | 55.4% | 46.3% | 24.3% | 29.9% | 24.8% | 26.7% | 30.9% | 39.0% | 38.6% | 36.6% | 34.4% | 49.8% |
| — | +123.2% | +73.4% | -21.3% | -23.4% | -35.7% | -27.1% | -10.0% | -21.6% | -19.7% | -27.5% | +6.1% | +97.8% | |
| Operating Margin | 30.2% | 51.8% | 44.5% | 22.2% | 27.5% | 21.8% | 30.5% | 29.5% | 46.0% | 43.4% | 33.3% | 30.4% | 49.3% |
| — | +137.9% | +45.9% | -24.9% | -40.3% | -49.9% | -8.4% | -2.9% | -6.7% | -10.3% | -29.2% | +3.5% | +121.0% | |
| Net Margin | 19.3% | 78.3% | 36.5% | 9.3% | 16.2% | 7.8% | 15.7% | 12.3% | 33.7% | 31.3% | 28.5% | 28.6% | 45.0% |
| — | +906.2% | +132.8% | -24.4% | -52.1% | -75.1% | -45.0% | -56.8% | -25.0% | -22.1% | -37.7% | -30.1% | +163.6% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.6% | 20.9% | 9.4% | 1.7% | 3.3% | 1.4% | 2.8% | 2.5% | 7.8% | 7.8% | 5.3% | 4.8% | 10.2% |
| — | +1365.5% | +231.1% | -32.1% | -57.7% | -81.7% | -45.8% | -46.8% | -23.5% | -12.6% | -53.5% | -40.0% | +257.5% | |
| ROA | 6.3% | 9.8% | 4.0% | 0.7% | 1.3% | 0.5% | 1.1% | 0.9% | 2.9% | 2.9% | 2.3% | 2.3% | 4.9% |
| — | +1717.8% | +272.5% | -28.2% | -55.9% | -81.4% | -52.7% | -59.0% | -41.4% | -31.2% | -56.6% | -33.9% | +302.4% | |
| ROIC | 8.1% | 5.4% | 3.9% | 1.3% | 1.8% | 1.2% | 1.7% | 1.8% | 3.2% | 3.2% | 2.2% | 2.0% | 4.4% |
| — | +332.1% | +129.9% | -28.3% | -43.5% | -61.7% | -21.3% | -8.8% | -27.5% | -21.2% | -50.3% | +0.7% | +246.8% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Frontline Ltd.'s Debt/EBITDA ratio is 5.9x, down from 8.5x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 11.5% YoY to 2.03x, strengthening the short-term liquidity position. Debt/Equity has declined for 7 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.22 | 0.93 | 1.22 | 1.39 | 1.52 | 1.58 | 1.60 | 1.61 | 1.59 | 1.72 | 1.52 | 1.01 | 1.00 |
| — | -41.2% | -23.7% | -13.7% | -4.7% | -8.5% | +5.4% | +59.2% | +59.0% | +60.4% | +45.1% | -12.6% | -18.2% | |
| Debt / EBITDA | 3.33 | 5.90 | 8.52 | 17.99 | 16.76 | 21.04 | 17.60 | 16.56 | 11.36 | 12.07 | 17.46 | 13.05 | 7.41 |
| — | -72.0% | -51.6% | +8.6% | +47.5% | +74.4% | +0.8% | +26.9% | +53.3% | +49.9% | +119.7% | -14.7% | -66.0% | |
| Current Ratio | 1.43 | 2.03 | 1.43 | 1.37 | 1.88 | 1.82 | 1.39 | 1.43 | 1.38 | 1.75 | 1.78 | 1.79 | 1.92 |
| — | +11.5% | +3.1% | -4.2% | +35.7% | +4.1% | -22.1% | -20.4% | -28.0% | -0.1% | -20.9% | +9.9% | +81.6% | |
| Quick Ratio | 1.43 | 2.03 | 1.43 | 1.37 | 1.88 | 1.82 | 1.39 | 1.43 | 0.92 | 1.75 | 1.18 | 1.79 | 1.47 |
| — | +11.5% | +3.1% | -4.2% | +103.5% | +4.1% | +17.5% | -20.4% | -37.2% | -0.1% | -30.3% | +9.9% | +38.8% | |
| Interest Coverage | 2.54 | 9.20 | 5.49 | 1.71 | 2.36 | 1.56 | 1.89 | 1.79 | 3.58 | 3.56 | 3.01 | 3.83 | 8.13 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying FRO stock.
Frontline Ltd.'s current P/E is 24.1x. The average P/E over the last 4 quarters is 13.0x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Frontline Ltd.'s current operating margin is 30.2%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Frontline Ltd.'s business trajectory between earnings reports.