Frontline Ltd. (FRO) P/E Ratio History
ExpensiveTrading at 24.1x vs 5Y avg 10.7x · 90th percentile · Material premium to history · Data 1995–2026
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P/E Ratio Analysis
As of June 21, 2026, Frontline Ltd. (FRO) trades at a price-to-earnings ratio of 24.1x, with a stock price of $40.93 and trailing twelve-month earnings per share of $4.06.
The current P/E is 126% above its 5-year average of 10.7x. Over the past five years, FRO's P/E has ranged from a low of 2.8x to a high of 34.2x, placing the current valuation at the 90th percentile of its historical range.
Compared to the Energy sector median P/E of 15.5x, FRO trades at a 56% premium to its sector peers. The sector includes 173 companies with P/E ratios ranging from 1.6x to 166.4x.
Relative to the broader market, FRO trades roughly in line with the S&P 500 median P/E of 24.4x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our FRO DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
FRO Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
FRO P/E vs Peers
Marine Tanker Shipping peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $3B | 14.4 | - | +17% | |
| $4B | 13.6 | - | -26% | |
| $1B | 8.6 | - | -12% | |
| $4B | 11.5 | 0.34 | -47% | |
| $1B | 100.9 | - | -74% | |
| $697M | 19.4 | - | -71% | |
| $203M | 4.1Lowest | 4.04 | +49%Best | |
| $3B | 7.4 | 0.23Best | -13% | |
| $4B | 10.5 | 1.17 | -54% | |
| $3B | 9.9 | 0.54 | -53% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
FRO Historical P/E Data (1995–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | - | $34.86 | $4.06 | 8.6x | -86% |
| FY2025 Q4 | Dec 31 2025 | $21.82 | $1.70 | 12.8x | -80% |
| FY2025 Q3 | - | $22.79 | $0.98 | 23.3x | -63% |
| FY2025 Q2 | Jun 30 2025 | $16.41 | $1.07 | 15.3x | -76% |
| FY2025 Q1 | Mar 31 2025 | $14.85 | $1.56 | 9.5x | -85% |
| FY2024 Q4 | - | $14.19 | $2.22 | 6.4x | -90% |
| FY2024 Q3 | Sep 30 2024 | $22.85 | $2.45 | 9.3x | -85% |
| FY2024 Q2 | Jun 30 2024 | $25.76 | $2.66 | 9.7x | -85% |
| FY2024 Q1 | Mar 31 2024 | $23.38 | $2.86 | 8.2x | -87% |
| FY2023 Q4 | Dec 31 2023 | $20.05 | $2.95 | 6.8x | -89% |
| FY2023 Q3 | Sep 30 2023 | $18.78 | $3.50 | 5.4x | -92% |
| FY2023 Q2 | Jun 30 2023 | $14.53 | $3.71 | 3.9x | -94% |
| FY2023 Q1 | Mar 31 2023 | $16.56 | $2.90 | 5.7x | -91% |
| FY2022 Q4 | Dec 31 2022 | $12.14 | $2.15 | 5.6x | -91% |
| FY2022 Q3 | Sep 30 2022 | $10.93 | $1.17 | 9.3x | -85% |
| FY2022 Q2 | - | $8.86 | $0.31 | 28.6x | -55% |
| FY2021 Q2 | Jun 30 2021 | $9.00 | $0.26 | 34.2x | -46% |
| FY2021 Q1 | Mar 31 2021 | $7.15 | $1.40 | 5.1x | -92% |
| FY2020 Q4 | - | $6.22 | $2.09 | 3.0x | -95% |
| FY2020 Q3 | Sep 30 2020 | $6.50 | $2.29 | 2.8x | -96% |
| FY2020 Q2 | - | $6.98 | $1.94 | 3.6x | -94% |
| FY2020 Q1 | - | $9.61 | $0.94 | 10.3x | -84% |
| FY2019 Q4 | - | $12.86 | $0.34 | 38.2x | -40% |
| FY2019 Q3 | Sep 30 2019 | $9.10 | $0.34 | 27.0x | -57% |
| FY2019 Q2 | Jun 30 2019 | $8.00 | $0.41 | 19.7x | -69% |
| FY2019 Q1 | Mar 31 2019 | $6.46 | $0.27 | 23.9x | -62% |
| FY2017 Q3 | Sep 30 2017 | $6.04 | $0.03 | 201.3x | +217% |
| FY2017 Q2 | Jun 30 2017 | $5.73 | $0.20 | 28.6x | -55% |
| FY2017 Q1 | Mar 31 2017 | $6.74 | $0.40 | 16.9x | -73% |
| FY2016 Q4 | Dec 31 2016 | $7.11 | $0.74 | 9.6x | -85% |
| FY2016 Q3 | Sep 30 2016 | $7.17 | $0.99 | 7.2x | -89% |
| FY2016 Q2 | - | $7.87 | $1.41 | 5.6x | -91% |
| FY2016 Q1 | - | $8.37 | $1.77 | 4.7x | -93% |
| FY2015 Q4 | - | $14.95 | $2.52 | 5.9x | -91% |
| FY2015 Q3 | Sep 30 2015 | $13.45 | $1.54 | 8.7x | -86% |
| FY2011 Q1 | - | $123.85 | $5.60 | 22.1x | -65% |
| FY2010 Q4 | Dec 31 2010 | $126.85 | $9.70 | 13.1x | -79% |
| FY2010 Q3 | - | $142.15 | $10.71 | 13.3x | -79% |
| FY2010 Q2 | Jun 30 2010 | $142.70 | $10.20 | 14.0x | -78% |
| FY2010 Q1 | Mar 31 2010 | $153.15 | $6.80 | 22.5x | -65% |
| FY2009 Q4 | - | $136.60 | $6.60 | 20.7x | -67% |
| FY2009 Q3 | Sep 30 2009 | $116.95 | $9.66 | 12.1x | -81% |
| FY2009 Q2 | - | $121.80 | $16.96 | 7.2x | -89% |
| FY2009 Q1 | - | $86.95 | $36.41 | 2.4x | -96% |
| FY2008 Q4 | Dec 31 2008 | $148.05 | $46.26 | 3.2x | -95% |
| FY2008 Q3 | - | $240.35 | $56.21 | 4.3x | -93% |
| FY2008 Q2 | Jun 30 2008 | $348.90 | $56.21 | 6.2x | -90% |
| FY2008 Q1 | Mar 31 2008 | $230.10 | $47.51 | 4.8x | -92% |
| FY2007 Q4 | Dec 31 2007 | $239.36 | $43.36 | 5.5x | -91% |
| FY2007 Q3 | Sep 30 2007 | $240.75 | $42.49 | 5.7x | -91% |
| FY2007 Q2 | Jun 30 2007 | $228.63 | $42.14 | 5.4x | -91% |
| FY2007 Q1 | Mar 31 2007 | $177.02 | $34.09 | 5.2x | -92% |
| FY2006 Q4 | Dec 31 2006 | $153.05 | $38.14 | 4.0x | -94% |
| FY2006 Q3 | Sep 30 2006 | $185.06 | $39.39 | 4.7x | -93% |
| FY2006 Q2 | Jun 30 2006 | $181.88 | $37.74 | 4.8x | -92% |
| FY2006 Q1 | Mar 31 2006 | $160.93 | $41.74 | 3.9x | -94% |
| FY2005 Q4 | Dec 31 2005 | $177.99 | $45.39 | 3.9x | -94% |
| FY2005 Q3 | Sep 30 2005 | $207.09 | $63.31 | 3.3x | -95% |
| FY2005 Q2 | - | $188.88 | $68.46 | 2.8x | -96% |
| FY2005 Q1 | - | $230.00 | $71.41 | 3.2x | -95% |
| FY2004 Q4 | Dec 31 2004 | $177.78 | $67.66 | 2.6x | -96% |
| FY2004 Q3 | - | $172.28 | $40.88 | 4.2x | -93% |
| FY2004 Q2 | Jun 30 2004 | $120.54 | $33.38 | 3.6x | -94% |
| FY2004 Q1 | Mar 31 2004 | $78.94 | $32.13 | 2.5x | -96% |
| FY2003 Q4 | Dec 31 2003 | $69.69 | $29.18 | 2.4x | -96% |
| FY2003 Q3 | - | $45.83 | $28.40 | 1.6x | -97% |
| FY2003 Q2 | Jun 30 2003 | $38.91 | $23.37 | 1.7x | -97% |
| FY2003 Q1 | Mar 31 2003 | $29.41 | $11.09 | 2.7x | -96% |
| FY2002 Q4 | - | $24.22 | $0.44 | 55.0x | -13% |
| FY2002 Q1 | Mar 31 2002 | $30.65 | $1.10 | 27.8x | -56% |
| FY1997 Q3 | - | $42.07 | $0.19 | 221.4x | +249% |
| FY1996 Q4 | - | $33.52 | $0.04 | 859.5x | +1253% |
| FY1996 Q3 | Sep 30 1996 | $38.65 | $0.02 | 1982.1x | +3020% |
| FY1996 Q2 | Jun 30 1996 | $34.89 | $0.05 | 671.0x | +956% |
| FY1995 Q3 | Sep 30 1995 | $40.02 | $0.39 | 102.9x | +62% |
Average P/E for displayed period: 63.5x
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
31+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
FRO — Frequently Asked Questions
Quick answers to the most common questions about buying FRO stock.
What is FRO's P/E ratio?
Frontline Ltd. (FRO) trailing twelve-month P/E ratio is 24.1x, based on TTM diluted EPS of $4.06. The 5-year average P/E is 10.7x and the historical range spans 2.8x to 34.2x.
Is FRO stock overvalued or undervalued?
FRO trades at 24.1x P/E, above its 5-year average of 10.7x. The 90th percentile ranking within the 2.8x–34.2x historical range indicates a premium to historical valuation.
Is FRO stock expensive?
Yes, FRO is expensive relative to its own history. The current P/E of 24.1x is above the 5-year average of 10.7x and also above the Energy sector median of 15.5x. The stock sits at the 90th percentile of its 5-year valuation range.
What is FRO's historical P/E range?
Over the past 5 years, FRO's P/E ratio has ranged from 2.8x to 34.2x, with a median of 8.6x and an average of 10.7x. The current P/E of 24.1x places the stock at the 90th percentile of this range. Full historical data spans 1995–2026.
How does FRO's P/E compare to the S&P 500?
FRO trades at 24.1x P/E versus the S&P 500 median of 24.4x. The 1% discount to the market suggests lower growth expectations or perceived higher risk.
How does FRO's valuation compare to Energy peers?
Frontline Ltd. P/E of 24.1x compares to the Energy sector median of 15.5x. The premium reflects expected growth above peers or stronger fundamentals. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is FRO's PEG ratio?
FRO PEG ratio is N/A, based on a P/E of 24.1x and EPS growth of -23.8%. PEG normalises P/E by growth and helps compare stocks with different earnings trajectories.
What is FRO's earnings yield?
FRO earnings yield is 4.15%, the inverse of its 24.1x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.