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Frontline plc is a leading shipping company specializing in the seaborne transportation of crude oil and refined oil products worldwide. Headquartered in Limassol, Cyprus, and founded in 1985, it operates one of the largest oil tanker fleets globally, ranking among the top by capacity with 81 vessels as of December 31, 2024, including 41 very large crude carriers (VLCCs), 22 Suezmax tankers, and 18 LR2/Aframax tankers. The company engages in owning, chartering in, purchasing, and selling these specialized vessels to facilitate the efficient movement of energy cargoes across key maritime routes amid volatile freight markets. Controlled by billionaire John Fredriksen through Hemen Holding, Frontline plc maintains a strategic focus on crude oil transportation, bolstered by its 2023 acquisition of 24 tankers from Euronav for $2.35 billion, which strengthened its position in the global energy logistics sector. With approximately 85 employees, it plays a critical role in the international oil supply chain, supporting the energy industry's midstream operations.
$36.49
$0.68 (-1.83%)
EOD Jul 17, 2026
30.17% operating margin is above average. ROIC at 10.01%.
Revenue declined 4.2% YoY. Margins deteriorated 2.5pp alongside, both lines moving the wrong way.
Net debt of $2.81B represents 4.2x FCF, leverage limits flexibility.
9.0x earnings, 13.7x FCF. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$2.25B
▼ -4.2% YoY
Net Income (TTM)
$905M
▼ -23.5% YoY
Op. Margin
48.18%
▼ -2.5pp YoY
ROIC
10.01%
▼ -1.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$592M
▲ +474.6% YoY
Op. Cash Flow (TTM)
$1.14B
▼ -18.0% YoY
Net Debt
$2.81B
Cash & Equiv.
$253M
3Y CAGR: +11.2%
3Y CAGR: +138.3%
Continue Research
At a P/E of 9.0 and a price-to-free-cash-flow of 13.7, Frontline (FRO) trades below a two-stage DCF intrinsic value of about $121.57 per share, so at $36.49 the stock looks undervalued (233.2% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Frontline scores 78/100 on Intrinsiqq's quality scorecard (a solid business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 4.8%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about $121.57 per share for FRO, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around $91.18. At today's $36.49, that puts the stock about 233.2% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Frontline scores 78 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a solid business on these measures. Recent fundamentals include a 48.2% operating margin and a 10.0% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, Frontline pays a regular dividend of about $1.76 per share per year (typically in quarterly installments), a yield of roughly 4.8% at the current price. That is a payout ratio of about 43.3% of earnings, so the dividend is well covered. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For FRO's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. FRO currently trades below its estimated intrinsic value and scores 78/100 on quality (solid). It also yields about 4.8%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.