Flex Lng Ltd (FLNG) financial statements: income statement, balance sheet and cash flow

Flex Lng Ltd's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Flex Lng Ltd reported net income of $74.8M (-36.4% year on year).

Income statement

Flex Lng Ltd income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Vessel operating revenues	$347.6M	$356.3M	$371.0M	$347.9M
Voyage expenses	($12.4M)	($3.4M)	($1.7M)	($2.5M)
Vessel operating expenses	($74.9M)	($69.9M)	($68.4M)	($63.4M)
Administrative expenses	($8.0M)	($9.8M)	($10.5M)	($9.1M)
Depreciation	($76.6M)	($75.5M)	($73.4M)	($72.2M)
Operating income	$175.8M	$197.8M	$217.2M	$200.6M
Interest income	$4.1M	$4.5M	$4.9M	$2.0M
Interest expense	($92.6M)	($105.6M)	($108.7M)	($76.6M)
Extinguishment of long-term debt	($4.1M)	($637.0K)	($10.2M)	($16.1M)
Gain on derivatives	($7.4M)	$22.8M	$18.3M	$79.7M
Other financial items	($853.0K)	($1.1M)	($1.2M)	($1.5M)
Income before tax	$74.9M	$117.8M	$120.1M	$188.1M
Income tax expense	($82.0K)	($132.0K)	($78.0K)	($98.0K)
Net income	$74.8M	$117.7M	$120.0M	$188.0M
Basic earnings per share (in dollars per share)	$1.38	$2.19	$2.24	$3.53
Diluted earnings per share (in dollars per share)	$1.38	$2.18	$2.22	$3.51

Flex Lng Ltd income statement, quarters

Line item	Jun 30, 2026 · YTD	Jun 30, 2025 · YTD	Jun 30, 2024 · YTD	Jun 30, 2023 · YTD
Vessel operating revenues	$187.3M	$174.4M	$174.9M	$179.2M
Voyage expenses	($12.2M)	($5.0M)	($1.3M)	($1.0M)
Vessel operating expenses	($37.9M)	($36.3M)	($34.5M)	($33.0M)
Administrative expenses	($4.5M)	($4.5M)	($5.3M)	($6.1M)
Depreciation	($39.1M)	($37.5M)	($37.5M)	($35.9M)
Operating income	$93.7M	$91.2M	$96.4M	$103.2M
Interest income	$1.4M	$2.1M	$2.1M	$3.0M
Interest expense	($39.7M)	($46.4M)	($53.8M)	($53.5M)
Extinguishment costs of long-term debt	$0	($1.6M)	$0	($10.2M)
Gain/(loss) on derivatives	$9.6M	($8.6M)	$10.8M	$14.3M
Other financial items	($594.0K)	($117.0K)	($352.0K)	($1.1M)
Income before tax	$64.4M	$36.5M	$55.1M	$55.6M
Income tax expense	($35.0K)	($49.0K)	($52.0K)	($41.0K)
Net income	$64.4M	$36.4M	$55.1M	$55.5M
Basic (in dollars per share)	$1.19	$0.67	$1.02	$1.03
Diluted (in dollars per share)	$1.19	$0.67	$1.02	$1.03

Balance sheet

Flex Lng Ltd balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$447.6M	$437.2M	$410.4M	$332.3M
Restricted cash	$65.0K	$49.0K	$119.0K	$72.0K
Inventory	$9.0M	$4.8M	$5.1M	$5.3M
Receivables due from related parties	$340.0K	$686.0K	$786.0K	$60.0K
Other current assets	$46.2M	$31.7M	$26.6M	$16.3M
Total current assets	$503.3M	$474.4M	$443.1M	$354.0M
Derivative instruments	$18.1M	$40.1M	$48.8M	$55.5M
Vessels and equipment, net	$2.1B	$2.2B	$2.2B	$2.3B
Other fixed assets	$0	$5.0K	$2.0K	$3.0K
Total non-current assets	$2.1B	$2.2B	$2.3B	$2.3B
Total Assets	$2.6B	$2.7B	$2.7B	$2.7B
Current portion of long-term debt	$109.6M	$106.7M	$103.9M	($95.5M)
Derivative instruments	$604.0K	—	—	$0
Payables due to related parties	$673.0K	$523.0K	$384.0K	($328.0K)
Accounts payable	$10.5M	$2.0M	$3.5M	($1.8M)
Other current liabilities	$44.4M	$49.5M	$45.5M	($55.6M)
Total current liabilities	$165.8M	$158.8M	$153.3M	($153.2M)
Long-term debt	$1.7B	$1.7B	$1.7B	($1.6B)
Other non-current liabilities	$163.0K	—	—	—
Total non-current liabilities	$1.7B	$1.7B	$1.7B	($1.6B)
Total liabilities	$1.9B	$1.9B	$1.9B	($1.8B)
Share capital (2025: 54,520,325 shares issued, par value $0.01 per share (2024: 54,520,325 shares issued, par value $0.01 per share))	$545000.00	$545000.00	$5452000.00	-$5452000.00
Treasury shares at cost (2025: 427,949 shares (2024: 432,557))	-4.2M	-4.2M	-7.6M	8.1M
Additional paid in capital	$704.3M	$904.3M	$1.2B	($1.2B)
Contributed surplus	$221.3M	$183.5M	—	—
Accumulated deficit	($202.7M)	($277.5M)	($354.9M)	$293.7M
Total equity	$719.3M	$806.6M	$847.7M	($907.1M)
Total Liabilities and Equity	$2.6B	$2.7B	$2.7B	($2.7B)
Par value (in USD per share)	$0.01	$0.01	—	—

Flex Lng Ltd balance sheet, quarters

Line item	Jun 30, 2026	Jun 30, 2025	Jun 30, 2024	Jun 30, 2023
Cash and cash equivalents	$397.4M	$412.7M	$370.2M	$449.8M
Restricted cash	$0	$56.0K	$52.0K	$91.0K
Inventory	$7.5M	$4.8M	$5.0M	$5.6M
Other receivables	$490.0K	—	—	—
Other current assets	$50.1M	$51.9M	$39.5M	$26.0M
Total current assets	$455.4M	$470.0M	$415.2M	$482.5M
Derivative instruments	$22.3M	$23.7M	$36.3M	$58.7M
Vessels and equipment, net	$2.1B	$2.1B	$2.2B	$2.3B
Other non-current assets	$7.5M	$3.5M	$1.0K	$3.0K
Total non-current assets	$2.1B	$2.2B	$2.2B	$2.3B
Total assets	$2.6B	$2.6B	$2.6B	$2.8B
Current portion of long-term debt	$110.8M	$105.9M	$104.1M	$103.5M
Derivative instruments	$0	$250.0K	$444.0K	$126.0K
Payables due to related parties	$1.2M	$826.0K	$471.0K	$755.0K
Accounts payable	$6.1M	$2.5M	$2.8M	$5.4M
Other current liabilities	$51.5M	$56.3M	$53.8M	$55.9M
Total current liabilities	$169.6M	$165.8M	$161.6M	$165.7M
Long-term debt	$1.7B	$1.7B	$1.7B	$1.8B
Other non-current liabilities	$7.5M	$3.5M	—	—
Total non-current liabilities	$1.7B	$1.7B	$1.7B	$1.8B
Total liabilities	$1.9B	$1.9B	$1.8B	$1.9B
Share capital (June 30, 2026: 54,520,325 shares issued, par value $0.01 per share (December 31, 2025: 54,520,325 shares issued, par value $0.01 per share))	$545000.00	$545000.00	$545000.00	$5452000.00
Treasury shares at cost (June 30, 2026: 427,949 (December 31, 2025: 427,949))	-4.2M	-4.2M	-6.3M	-8.1M
Additional paid in capital	$704.3M	$704.3M	$904.9M	$1.2B
Contributed Surplus	$140.1M	$302.4M	$264.5M	—
Accumulated deficit	($138.3M)	($241.0M)	($340.1M)	($332.1M)
Total equity	$702.5M	$762.0M	$823.6M	$869.7M
Total equity and liabilities	$2.6B	$2.6B	$2.6B	$2.8B

Cash flow statement

Flex Lng Ltd cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$74.8M	$117.7M	$120.0M	$188.0M
Depreciation	$76.6M	$75.5M	$73.4M	$72.2M
Extinguishment of long-term debt	$4.1M	$637.0K	$10.2M	$16.1M
Amortization of debt issuance costs	$2.3M	$2.5M	$2.5M	$4.1M
Share-based payments	$76.0K	$1.1M	$1.7M	$331.0K
Foreign exchange loss/(gain)	($439.0K)	$800.0K	$350.0K	($47.0K)
Change in fair value of derivative instruments	$22.6M	($1.8M)	$6.7M	($78.2M)
Drydocking expenditure	($24.6M)	($12.6M)	($20.7M)	—
Other	$7.0K	($223.0K)	($3.0K)	$3.0M
Inventory	($4.2M)	$267.0K	$169.0K	$1.2M
Other current assets	($14.6M)	($3.7M)	$10.3M	($713.0K)
Receivables due from related parties	$346.0K	$100.0K	($726.0K)	$168.0K
Payables due to related parties	$150.0K	$139.0K	$56.0K	($20.0K)
Accounts payable	$8.5M	($1.5M)	$1.7M	($222.0K)
Other current liabilities	($5.1M)	$4.0M	($10.1M)	$12.6M
Increase (Decrease) in Other Noncurrent Liabilities	$163.0K	—	—	—
Net cash provided by operating activities	$140.7M	$182.8M	$175.0M	$219.9M
Purchase of other fixed assets	$0	($4.0K)	($2.0K)	($5.0K)
Net cash used in investing activities	$0	($4.0K)	($2.0K)	($5.0K)
Repayment of long-term debt	($105.2M)	($102.4M)	($110.8M)	($85.3M)
Proceeds of revolving credit facilities	$1.6B	$1.3B	$1.8B	$663.4M
Repayment of revolving credit facilities	($1.6B)	($1.5B)	($1.6B)	($414.1M)
Prepayment of long-term debt	($387.5M)	($80.8M)	($595.3M)	($828.8M)
Proceeds from long-term debt	$530.0M	$430.0M	$650.0M	$745.0M
Extinguishment costs paid on long-term debt	($1.3M)	$0	($1.4M)	($11.1M)
Proceeds from termination of derivative instruments	$0	$10.2M	$0	$23.8M
Financing costs	($4.4M)	($2.8M)	($7.7M)	($11.0M)
Proceeds from issuance of treasury shares	0	1.9M	0	934.0K
Cash dividends paid	($162.3M)	($161.7M)	($181.2M)	($186.1M)
Net cash (used in)/provided by financing activities	($130.7M)	($155.6M)	($96.5M)	($88.8M)
Effect of exchange rate changes on cash	$435.0K	($530.0K)	($348.0K)	$115.0K
Net increase in cash, cash equivalents and restricted cash	$10.5M	$26.7M	$78.1M	$131.2M
Cash, cash equivalents and restricted cash at the beginning of the period	$437.2M	$410.5M	$332.4M	$201.2M
Cash, cash equivalents and restricted cash at the end of the period	$447.7M	$437.2M	$410.5M	$332.4M
Interest paid	($92.8M)	($105.1M)	($112.5M)	($63.5M)
Income tax paid	($100.0K)	($132.0K)	($55.0K)	($102.0K)

Flex Lng Ltd cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Jun 30, 2025 · YTD	Jun 30, 2024 · YTD	Jun 30, 2023 · YTD
Net income for the period	$64.4M	$36.4M	$55.1M	$55.5M
Depreciation	$39.1M	$37.5M	$37.5M	$35.9M
Extinguishment of long-term debt	$0	$1.6M	$0	$10.2M
Amortization of debt issuance costs	$1.1M	$1.2M	$1.2M	$1.4M
Share-based payments	$0	$76.0K	$721.0K	$1.0M
Foreign exchange loss	$16.0K	($500.0K)	$398.0K	$700.0K
Change in fair value of derivative instruments	($4.9M)	$16.7M	$2.6M	($3.0M)
Drydocking expenditure	($13.7M)	($13.5M)	($10.1M)	($20.6M)
Other	$0	$13.0K	($198.0K)	($1.0K)
Inventory	$1.5M	$19.0K	$140.0K	($324.0K)
Other current assets	($3.9M)	($20.3M)	($12.8M)	($9.7M)
Other non-current assets	($7.5M)	($3.5M)	—	—
Receivables due from related parties	($150.0K)	$171.0K	$230.0K	($918.0K)
Payables due to related parties	$518.0K	$303.0K	$87.0K	$427.0K
Accounts payable	($4.4M)	$463.0K	($750.0K)	$3.6M
Other current liabilities	$7.1M	$6.8M	$8.3M	$375.0K
Other non-current liabilities	$7.3M	$3.5M	—	—
Net cash provided by operating activities	$86.5M	$67.1M	$82.3M	$74.6M
Purchase of other fixed assets	$0	$0	$0	($2.0K)
Net cash used in investing activities	$0	$0	$0	($2.0K)
Repayment of long-term debt	($55.5M)	($54.3M)	($53.0M)	($58.0M)
Proceeds from revolving credit facility	$747.4M	$847.4M	$800.0M	$956.7M
Repayment of revolving credit facility	($747.4M)	($847.4M)	($800.0M)	($806.7M)
Prepayment of long-term debt	$0	($129.6M)	$0	($595.3M)
Proceeds from long-term debt	$0	$175.0M	$0	$650.0M
Extinguishment costs paid on long-term debt	$0	($648.0K)	$0	($1.4M)
Financing costs	($117.0K)	($1.4M)	($12.0K)	($7.7M)
Dividends paid	($81.1M)	($81.1M)	($80.7M)	($93.9M)
Net cash used in financing activities	($136.8M)	($92.0M)	($122.4M)	$43.6M
Effect of exchange rate changes on cash	($16.0K)	$498.0K	($200.0K)	($698.0K)
Net decrease in cash, cash equivalents and restricted cash	($50.3M)	($24.5M)	($40.3M)	$117.5M
Cash, cash equivalents and restricted cash at the beginning of the period	$447.7M	$437.2M	$410.5M	$332.4M
Cash, cash equivalents and restricted cash at the end of the period	$397.4M	$412.7M	$370.3M	$449.9M
Interest paid, net of amounts capitalized	($38.0M)	($44.7M)	($51.9M)	($58.7M)
Income tax paid	($139.0K)	($20.0K)	($86.0K)	($30.0K)

Flex Lng Ltd score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.