Frontline Plc (FRO) financial statements: income statement, balance sheet and cash flow
Frontline Plc'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), Frontline Plc reported revenue of $2.0B (-8.8% year on year).
Income statement
Frontline Plc income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Revenues
$2.0B
$2.1B
$1.8B
$1.4B
Other operating income
$6.1M
$112.1M
$24.1M
—
Total revenues and other operating income
$2.0B
$2.2B
$1.8B
$1.4B
Voyage expenses and commissions
$753.7M
$773.4M
$618.6M
$605.5M
Ship operating expenses
$238.8M
$232.2M
$176.5M
$175.2M
Administrative expenses
$51.4M
$36.1M
$53.5M
$47.4M
Depreciation
$328.5M
$339.0M
$230.9M
$165.2M
Total operating expenses
$1.4B
$1.4B
$1.1B
$992.6M
Net operating income
$598.8M
$781.7M
$746.7M
$445.6M
Finance income
$15.8M
$17.1M
$18.1M
$1.5M
Finance expense
($233.2M)
($295.1M)
($171.3M)
($45.3M)
Gain (loss) on marketable securities
($1.6M)
($3.4M)
$23.0M
$58.4M
Share of results of associated companies
$1.1M
($599.0K)
$3.4M
$14.2M
Dividends received
$4.3M
$3.5M
$36.9M
$1.6M
Net other expenses
($213.7M)
($278.5M)
($90.0M)
$30.3M
Profit before income taxes
$385.1M
$503.3M
$656.6M
$475.9M
Income tax expense
($6.0M)
($7.7M)
($205.0K)
($412.0K)
Profit for the period
$379.1M
$495.6M
$656.4M
$475.5M
Basic earnings per share (in USD per share)
$1.70
$2.23
$2.95
$2.22
Diluted earnings per share (in USD per share)
$1.70
$2.23
$2.95
$2.22
Frontline Plc income statement, quarters
Line item
Jun 30, 2026 · YTD
Jun 30, 2025 · YTD
Jun 30, 2024 · YTD
Jun 30, 2023 · YTD
Revenues
$1.7B
$907.9M
$1.1B
$1.0B
Other operating income
$290.5M
$92.0K
$94.2M
$23.7M
Total revenues and other operating income
$1.9B
$908.0M
$1.2B
$1.0B
Voyage expenses and commissions
$386.5M
$374.6M
$405.0M
—
Ship operating expenses
$119.2M
$120.1M
$117.3M
$87.5M
Administrative expenses
$38.4M
$24.9M
$27.4M
$24.3M
Depreciation
$147.3M
$163.4M
$171.7M
$112.6M
Total operating expenses
$691.4M
$683.0M
$721.5M
$539.9M
Net operating income
$1.3B
$225.0M
$507.2M
$493.9M
Finance income
$7.4M
$9.2M
$7.9M
$7.7M
Finance expense
($75.5M)
($123.2M)
($144.8M)
($77.8M)
Gain (loss) on marketable securities
$703.0K
($1.7M)
$815.0K
($24.0M)
Share of results of associated companies
$23.7M
$1.1M
($920.0K)
$5.0M
Dividends received
$6.4M
$3.8M
$1.3M
$25.5M
Net other expenses
($37.2M)
($110.7M)
($135.7M)
($63.6M)
Profit before income taxes
$1.2B
$114.4M
$371.5M
$430.3M
Income tax expense
($1.1M)
($3.5M)
($3.1M)
$25.0K
Profit for the period
$1.2B
$110.8M
$368.4M
$430.3M
Basic earnings per share (in USD per share)
$5.47
$0.50
$1.65
$1.93
Diluted earnings per share (in USD per share)
$5.47
$0.50
$1.65
$1.93
Balance sheet
Frontline Plc 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
$251.3M
$413.5M
$308.3M
$254.5M
Marketable securities
$2.1M
$4.0M
$7.4M
$236.3M
Trade and other receivables
$134.0M
$128.9M
$124.6M
$139.5M
Related party receivables
$13.1M
$8.5M
$19.3M
$13.5M
Inventories
$120.1M
$137.0M
$135.2M
$107.1M
Voyages in progress
$141.1M
$100.2M
$110.1M
$110.6M
Prepaid expenses and accrued income
$22.4M
$14.5M
$15.8M
$14.3M
Derivative instruments
$295.0K
$2.0M
—
—
Other current assets
$22.9M
$17.3M
$7.3M
$5.3M
Total current assets
$707.3M
$826.0M
$727.9M
$881.0M
Vessels and equipment
$4.9B
$5.2B
$4.6B
$3.7B
Right-of-use assets
$0
$1.4M
$2.2M
$3.1M
Goodwill
$112.5M
$112.5M
$112.5M
$112.5M
Derivative instruments
$8.7M
$22.4M
$39.1M
$54.0M
Investment in associated companies
$8.8M
$11.8M
$12.4M
$16.3M
Other non-current assets
$4.4M
$0
$6.3M
$1.5M
Total assets
$5.8B
$6.2B
$5.9B
$4.8B
Short-term debt and current portion of long-term debt
$320.5M
$460.3M
$262.0M
$277.9M
Current portion of obligations under leases
$0
$1.2M
$1.1M
$1.0M
Related party payables
$31.1M
$35.4M
$47.7M
$31.2M
Trade and other payables
$143.1M
$98.8M
$98.2M
$81.5M
Total current liabilities
$494.7M
$595.7M
$409.1M
$391.7M
Long-term debt
$2.7B
$3.3B
$3.2B
$2.1B
Obligations under leases
$0
$451.0K
$1.4M
$2.4M
Other non-current payables
$818.0K
$452.0K
$472.0K
$2.1M
Total liabilities
$3.2B
$3.9B
$3.6B
$2.5B
Share capital
222.6M
222.6M
222.6M
222.6M
Additional paid in capital
$604.7M
$604.7M
$604.7M
$604.7M
Contributed surplus
$1.0B
$1.0B
$1.0B
$1.0B
Accumulated other reserves
$437.0K
$1.8M
$415.0K
$454.0K
Retained earnings
$679.5M
$507.5M
$446.0M
$428.5M
Total equity attributable to the shareholders of the Company
$2.5B
$2.3B
$2.3B
$2.3B
Non-controlling interest
($472.0K)
($472.0K)
($472.0K)
($472.0K)
Total equity
$2.5B
$2.3B
$2.3B
$2.3B
Total liabilities and equity
$5.8B
$6.2B
$5.9B
$4.8B
Frontline Plc balance sheet, quarters
Line item
Jun 30, 2026
Jun 30, 2025
Jun 30, 2024
Jun 30, 2023
Cash and cash equivalents
$321.4M
$476.7M
$359.2M
$306.8M
Marketable securities
$883.0K
$2.0M
$8.2M
$212.3M
Trade and other receivables
$187.6M
$119.1M
$147.8M
$133.4M
Related party receivables
$13.4M
$11.8M
$21.2M
$18.4M
Inventories
$139.0M
$132.2M
$148.6M
$98.6M
Voyages in progress
$179.4M
$96.9M
$137.8M
$112.9M
Prepaid expenses and accrued income
$27.8M
$24.6M
$17.6M
$9.5M
Derivative instruments receivable
$6.3M
$2.0M
$5.8M
$52.7M
Other current assets
$36.7M
$22.7M
$13.1M
$5.7M
Total current assets
$912.4M
$887.8M
$859.3M
$897.6M
Newbuildings
$225.8M
—
—
$0
Vessels and equipment
$4.5B
$5.1B
$5.4B
$3.6B
Goodwill
$112.5M
$112.5M
$112.5M
$112.5M
Derivative instruments receivable
$0
$12.9M
$30.8M
—
Investment in associated companies
$32.5M
$9.5M
$11.5M
$14.0M
Other non-current assets
$0
$22.0K
$0
$4.0K
Total assets
$5.8B
$6.1B
$6.5B
$4.7B
Short-term debt and current portion of long-term debt
$265.9M
$317.6M
$455.0M
$362.5M
Related party payables
$41.6M
$29.6M
$54.5M
$40.5M
Trade and other payables
$180.5M
$126.1M
$111.1M
$63.4M
Total current liabilities
$488.0M
$473.5M
$621.8M
$467.6M
Long-term debt
$2.2B
$3.3B
$3.4B
$1.9B
Other non-current payables
$1.1M
$526.0K
$463.0K
$3.4M
Total liabilities
$2.7B
$3.7B
$4.0B
$2.4B
Share capital
222.6M
222.6M
222.6M
222.6M
Additional paid in capital
$604.7M
$604.7M
$604.7M
$604.7M
Contributed surplus
$1.0B
$1.0B
$1.0B
$1.0B
Accumulated other reserves
$312.0K
$1.6M
$861.0K
$585.0K
Retained earnings
$1.3B
$533.7M
$594.0M
$464.8M
Total equity attributable to the shareholders of the Company
$3.2B
$2.4B
$2.4B
$2.3B
Non-controlling interest
($472.0K)
($472.0K)
($472.0K)
($472.0K)
Total equity
$3.2B
$2.4B
$2.4B
$2.3B
Total liabilities and equity
$5.8B
$6.1B
$6.5B
$4.7B
Cash flow statement
Frontline Plc cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Profit for the period
$379.1M
$495.6M
$656.4M
$475.5M
Net finance expense
$217.4M
$278.0M
$153.3M
$43.9M
Depreciation
$328.5M
$339.0M
$230.9M
$165.2M
Gain on sale of vessels
($5.9M)
($112.1M)
($22.0M)
—
(Gain) loss on marketable securities
$1.6M
$3.4M
($23.0M)
$58.4M
Share of results of associated companies
($1.1M)
$599.0K
($3.4M)
($14.2M)
Stock option expense
$5.6M
($2.2M)
$10.7M
$4.7M
Dividends received from associated companies
$4.5M
$0
$7.3M
—
Other, net
($124.0K)
$1.5M
$182.0K
$674.0K
Trade and other receivables
($5.1M)
($2.8M)
$10.3M
($59.6M)
Inventories
$16.9M
($2.3M)
($28.2M)
($26.4M)
Voyages in progress
($40.9M)
$9.8M
$576.0K
($72.1M)
Prepaid expenses and accrued income
($8.0M)
$1.3M
($1.5M)
($5.4M)
Other current assets
($5.6M)
($10.1M)
($2.0M)
($1.4M)
Trade and other payables
$21.4M
$3.4M
($193.0K)
$5.7M
Related party balances
($8.9M)
($1.6M)
$10.7M
($6.8M)
Other
($1.4M)
($1.5M)
($163.0K)
($387.0K)
Interest paid
($229.8M)
($274.7M)
($165.2M)
($83.0M)
Debt issuance costs paid
($16.0M)
($29.7M)
($20.0M)
($4.3M)
Interest received
$30.3M
$40.7M
$39.4M
$5.1M
Net cash provided by operating activities
$682.5M
$736.4M
$856.2M
$385.3M
Additions to newbuildings, vessels and equipment
($12.5M)
($915.2M)
($1.6B)
($335.8M)
Proceeds from sale of vessels
$37.1M
$431.9M
$142.7M
$80.0M
Cash inflow on repayment of loan to associated companies
$0
$0
$1.4M
—
Proceeds from sale of marketable securities
$360.0K
$0
$251.8M
$0
Net cash provided by (used in) investing activities
$25.0M
($483.4M)
($1.2B)
($257.3M)
Proceeds from issuance of debt
$1.4B
$2.2B
$1.6B
$651.2M
Repayment of debt
($2.1B)
($1.9B)
($536.6M)
($597.8M)
Repayment of obligations under leases
($412.0K)
($930.0K)
($862.0K)
($2.1M)
Cash dividends paid
($207.0M)
($434.1M)
($638.9M)
($33.4M)
Net cash provided by (used in) financing activities
($869.6M)
($147.8M)
$433.1M
$13.4M
Net change in cash and cash equivalents
($162.2M)
$105.2M
$53.8M
$141.5M
Cash and cash equivalents at the beginning of the year
$413.5M
$308.3M
$254.5M
$113.1M
Cash and cash equivalents at the end of the year
$251.3M
—
—
—
Income taxes paid
$2.7M
$4.5M
$122.0K
$199.0K
Frontline Plc cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Jun 30, 2025 · YTD
Jun 30, 2024 · YTD
Jun 30, 2023 · YTD
Net cash provided by operating activities
$962.0M
$291.5M
$404.0M
$553.2M
Additions to newbuildings, vessels and equipment
($653.9M)
($2.4M)
($908.5M)
($153.3M)
Proceeds from sale of vessels
$965.9M
$0
$382.4M
$142.7M
Proceeds from sale of marketable securities
$1.9M
$361.0K
—
—
Net cash provided by (used in) investing activities
$313.9M
($2.0M)
($526.1M)
($9.2M)
Proceeds from issuance of debt
$256.4M
$1.4B
$1.4B
$259.4M
Repayment of debt
($887.9M)
($1.6B)
($961.1M)
($356.6M)
Repayment of obligations under leases
$0
($277.0K)
($462.0K)
($411.0K)
Cash dividends paid
($574.4M)
($84.6M)
($220.4M)
($394.0M)
Net cash used in financing activities
($1.2B)
($226.2M)
$173.0M
($491.7M)
Net change in cash and cash equivalents
$70.1M
$63.2M
$50.9M
$52.3M
Cash and cash equivalents at the beginning of the period
$251.3M
$413.5M
$308.3M
$254.5M
Cash and cash equivalents at the end of the period