olivLaw · US equity research
FLEX LNG Ltd. FLNG
Water Transportation · SIC 4400 · Vertical: Water Transportation (SIC 4400)
FLEX LNG Ltd. owns and commercially operates fifth generation LNG carriers that it deploys mainly on long-term time charters. The company reported vessel operating revenues of 347.6 million USD in 2025, in a market where LNG seaborne demand edged higher.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 05 Nov 2026, FLEX LNG Ltd. (FLNG) stock was 25.94 USD (−3.39% on the day), with market capitalisation 1.4 bn USD, P/E 18.8 on diluted EPS of 1.38 USD over the last 12 months, dividend yield 11.56%, beta 0.28, 52-week range 24.34–33.27 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 23.1
- oversold (≤ 30)
- Bollinger (20, 2)
- 25.95 – 30.87
- below the lower band · %B -0.00 · band width 17.3%
- SMA 50 / 200
- 30.24 / 29.98
- mixed trend
- MACD (12, 26, 9)
- -0.97 / -0.82
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −16.7% | −1.1% | −15.6 pp | — |
| 3 months | −16.4% | −0.5% | −15.9 pp | — |
| 6 months | −19.5% | +4.4% | −23.9 pp | — |
| Year to date | +4.0% | +12.3% | −8.3 pp | — |
| 1 year | −0.7% | +13.5% | −14.2 pp | +21.5% |
| 3 years | −16.9% | +76.4% | −93.4 pp | +61.3% |
| 5 years | +28.3% | +63.7% | −35.4 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 71 percentile of its own 7-quarter history (min 7.7, median 13.1, max 58.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 77.2 m | 120.0 m | 164.5 m | 343.4 m | 347.9 m | 371.0 m | 356.3 m | 347.6 m |
| Revenue YoY | +182.5% | +55.4% | +37.1% | +108.8% | +1.3% | +6.6% | −4.0% | −2.4% |
| Net income | 11.8 m | 17.0 m | 8.1 m | 162.2 m | 188.0 m | 120.0 m | 117.7 m | 74.8 m |
| Net income YoY | unavailable | +44.0% | −52.2% | +1,901.3% | +15.9% | −36.2% | −2.0% | −36.4% |
| Diluted EPS | unavailable | 0.31 | 0.15 | 3.04 | 3.51 | 2.22 | 2.18 | 1.38 |
| Diluted EPS YoY | unavailable | unavailable | −51.6% | +1,926.7% | +15.5% | −36.8% | −1.8% | −36.7% |
| net % | 15.3% | 14.1% | 4.9% | 47.2% | 54.0% | 32.4% | 33.0% | 21.5% |
| Free cash flow | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 447.6 m USD
- Financial debt
- 1.9 bn USD
- Net debt
- 1.4 bn USD
- Equity
- 719.3 m USD
- Total assets
- 2.6 bn USD
- Debt / equity
- 2.57x
- Current ratio
- 3.03x
- ROE
- 9.8%
- ROA
- 2.8%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 164.5 m | 343.4 m | 347.9 m | 371.0 m | 356.3 m | 347.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Operating income | 75.6 m | 201.2 m | 200.6 m | 217.2 m | 197.8 m | 175.8 m | SEC (XBRL)· 27 Feb 2026verified |
| Interest expense | 41.8 m | 56.2 m | 76.6 m | 108.7 m | 105.6 m | 92.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Pre-tax income | 8.2 m | 162.3 m | 188.1 m | 120.1 m | 117.8 m | 74.9 m | SEC (XBRL)· 27 Feb 2026verified |
| Income tax | 84.0 k | 99.0 k | 98.0 k | 78.0 k | 132.0 k | 82.0 k | SEC (XBRL)· 27 Feb 2026verified |
| Net income | 8.1 m | 162.2 m | 188.0 m | 120.0 m | 117.7 m | 74.8 m | SEC (XBRL)· 27 Feb 2026verified |
| Diluted EPS | 0.15 | 3.04 | 3.51 | 2.22 | 2.18 | 1.38 | SEC (XBRL)· 27 Feb 2026verified |
| Weighted average diluted shares | 54.3 m | 53.3 m | 53.5 m | 54.0 m | 54.0 m | 54.1 m | SEC (XBRL)· 27 Feb 2026verified |
| Dividend per share | 0.20 | 1.85 | 3.47 | 3.37 | 2.99 | 3.00 | SEC (XBRL)· 27 Feb 2026derived |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 128.9 m | 200.7 m | 332.3 m | 410.4 m | 437.2 m | 447.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Receivables | 4.1 m | 5.3 m | 4.9 m | 447.0 k | 1.4 m | 392.0 k | SEC (XBRL)· 27 Feb 2026verified |
| Inventories | 3.7 m | 6.5 m | 5.3 m | 5.1 m | 4.8 m | 9.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Current assets | 157.8 m | 224.9 m | 354.0 m | 443.1 m | 474.4 m | 503.3 m | SEC (XBRL)· 27 Feb 2026verified |
| Property, plant & equipment, net | 1.9 bn | 2.3 bn | 2.3 bn | 2.2 bn | 2.2 bn | 2.1 bn | SEC (XBRL)· 27 Feb 2026verified |
| Total assets | 2.3 bn | 2.6 bn | 2.7 bn | 2.7 bn | 2.7 bn | 2.6 bn | SEC (XBRL)· 27 Feb 2026verified |
| Accounts payable | 3.4 m | 2.0 m | 1.8 m | 3.5 m | 2.0 m | 10.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Short-term debt | 68.3 m | 85.9 m | 99.7 m | 106.1 m | 108.9 m | 111.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Long-term debt | 1.3 bn | 1.6 bn | 1.6 bn | 1.7 bn | 1.7 bn | 1.7 bn | SEC (XBRL)· 27 Feb 2026verified |
| Current liabilities | 131.8 m | 131.6 m | 153.2 m | 153.3 m | 158.8 m | 165.8 m | SEC (XBRL)· 27 Feb 2026verified |
| Total liabilities | 1.5 bn | 1.7 bn | 1.8 bn | 1.9 bn | 1.9 bn | 1.9 bn | SEC (XBRL)· 27 Feb 2026verified |
| Equity | 835.2 m † | 889.4 m † | 907.1 m † | 847.7 m † | 806.6 m † | 719.3 m † | SEC (XBRL)· 27 Feb 2026verified |
| Shares outstanding at year end | 53.9 m | 53.1 m | 53.7 m | 53.7 m | 54.1 m | 54.1 m | SEC (XBRL)· 27 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 89.3 m | 214.8 m | 219.9 m | 175.0 m | 182.8 m | 140.7 m | SEC (XBRL)· 27 Feb 2026verified |
| Investing cash flow | -691.4 m | -265.9 m | -5.0 k | -2.0 k | -4.0 k | 0 | SEC (XBRL)· 27 Feb 2026verified |
| Financing cash flow | 603.3 m | 123.1 m | -88.8 m | -96.5 m | -155.6 m | -130.7 m | SEC (XBRL)· 27 Feb 2026verified |
| Dividends paid | 10.8 m | 98.9 m | 186.1 m | 181.2 m | 161.7 m | 162.3 m | SEC (XBRL)· 27 Feb 2026verified |
| Share repurchases | 1.7 m | 7.8 m | 0 | 0 | — | — | SEC (XBRL)· 05 Mar 2024verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 39 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 1.4 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet44
- Valuation38
- Quality52
- Growth0
- Returns100
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 11.20 – 53.01 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E11.20 – 25.35 (Mid 18.95)13 companies used · median multiple 13.7x · quartiles 8.1x – 18.4xBIP, CCL, DLNG, INSW, KEX, KNOP, MATX, NCLH, RCL, RUBI, TDW, TNK, VIK
- Dividend discount (DDM)39.42 – 53.01 (Mid 45.22)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 39/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 8.2% | 33 (vs peers) | 17% |
| Net margin · Quality | 21.5% | 84 (vs peers) | 10% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | -0.0% | 0 (on a fixed band) | 14% |
| EPS CAGR 3Y · Growth | -26.7% | 0 (on a fixed band) | 14% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 1.9x | 6 (on a fixed band) | 10% |
| Current ratio · Balance sheet | 3.0x | 100 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 18.8x | 38 (vs peers) | 17% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 11.6% | 100 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet44/100 · 2/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality52/100 · 2/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation· partial38/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
FLEX LNG Ltd. (FLNG). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 347.6 m USD in 2025; YoY growth -2.4%; net margin 21.5%; ROE 9.8%.
The estimated value range is 25.31–39.18 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 32.09 USD, the price of 25.94 USD leaves a potential of 23.7% (value / price − 1) and a margin of safety of 19.2% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 39/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns, valuation. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 21.5%
- Current ratio: 3.0x
- Shareholder yield (distributions): 11.6%
What contradicts it
- Revenue CAGR 3Y: -0.0%
- EPS CAGR 3Y: -26.7%
- Interest coverage: 1.9x
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Net debt / EBITDA, EV/EBITDA, FCF yield, Payout ratio (FCF).
Versus the vertical median
Water Transportation (SIC 4400) · same industry (4-digit SIC) · compared with 21 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| RCLRoyal Caribbean Cruises Ltd | 89.1 bn | 19.7 | 41.7% | 23.8% | +8.8% | +25% / +210% |
| CCLCarnival Corp Ltd. | 42.1 bn | 13.7 | 24.0% | 11.4% | +6.4% | +21% / +108% |
| BIPBrookfield Infrastructure Partners L.P. | 11.3 bn | 42.4 | 7.7% | 11.0% | +9.8% | +6% / +46% |
| NCLHNorwegian Cruise Line Holdings Ltd. | 8.2 bn | 9.8 | 31.2% | 8.2% | +3.7% | −4% / +16% |
| MATXMatson, Inc. | 6.4 bn | 14.3 | 17.2% | 13.4% | −2.3% | +96% / +123% |
| KEXKirby Corporation | 6.3 bn | 18.4 | 10.4% | 10.2% | +3.0% | +5% / +56% |
| INSWInternational Seaways, Inc. | 4.7 bn | 6.0 | 37.4% | 62.0% | −11.4% | +78% / +107% |
| GLNGGolar Lng Limited | 4.3 bn | 65.7 | 3.4% | 16.7% | +51.1% | +15% / +98% |
| TDWTidewater Inc | 3.4 bn | 14.0 | 19.5% | 18.3% | +0.5% | +28% / +15% |
| SEAL-PASeapeak LLC | 2.0 bn | 76.8 | — | 4.1% | −10.4% | −2% / −2% |
| FLNGFLEX LNG Ltd. | 1.4 bn | 18.8 | 9.8% | 21.5% | −2.4% | −1% / −17% |
| NATNORDIC AMERICAN TANKERS Ltd | 1.4 bn | 108.8 | 2.6% | 4.2% | −16.6% | +79% / +68% |
| GLOP-PAGasLog Partners LP | 1.2 bn | — | -1.7% | -7.2% | −21.9% | −2% / +4% |
| CMDBCostamare Bulkers Holdings Limited | 430.2 m | — | -11.2% | -6.3% | unavailable | +8% / unavailable |
| KNOPKNOT Offshore Partners LP | 288.4 m | 12.4 | — | 6.4% | +14.4% | −15% / +58% |
| EDRYEurodry Ltd. | 102.6 m | — | -4.0% | — | +8.9% | +173% / +79% |
| OMEXOdyssey Marine Exploration, Inc. | 27.5 m | — | — | -13,366.3% | −54.0% | +469% / +218% |
| USEAUnited Maritime Corp | 22.7 m | — | -11.0% | -16.4% | −16.8% | +44% / −1% |
| RUBIRubico Inc. | 778.7 k | 0.0 | 6.6% | 11.2% | −2.8% | −100% / unavailable |
| VIKViking Holdings Ltd | — | 33.5 | 263.5% | 17.7% | +21.9% | +29% / unavailable |
| DLNGDynagas Lng Partners LP | — | 2.2 | 12.9% | — | −100.0% | −16% / +16% |
| TNKTeekay Tankers Ltd. | — | 8.1 | 18.5% | 36.9% | −22.6% | +42% / +65% |
1- and 3-year price returns: for FLNG from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 14.67 Total return -39% · Per year -39% | 25.99 Total return 6% · Per year 6% | 39.23 Total return 58% · Per year 58% |
| 3 years | 12.97 Total return -39% · Per year -15% | 25.98 Total return 16% · Per year 5% | 43.23 Total return 87% · Per year 23% |
| 5 years | 11.47 Total return -38% · Per year -9% | 25.96 Total return 27% · Per year 5% | 47.64 Total return 119% · Per year 17% |
- Exit P/E± 6.49
- Net margin± 4.55
- Annual revenue growth± 3.90
- Annual dilution± 0.38
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 27 Feb 2026; since then the company filed 6-K (19 Aug 2026), 6-K (13 May 2026), 6-K (25 Mar 2026), 6-K (18 Mar 2026).
In brief
FLEX LNG Ltd. owns and commercially operates fifth generation LNG carriers that it deploys mainly on long-term time charters. The company reported vessel operating revenues of 347.6 million USD in 2025 1, in a market where LNG seaborne demand edged higher 1.
SWOT
Strengths
- A relatively young fleet and MEGI and X-DF technologies reduce fuel consumption and gas losses 1.
- A portfolio of long-term charters gives visibility on revenue for a substantial part of operating days 1.
- The shares are listed exclusively on the NYSE, which simplifies the market structure for US investors 1.
Weaknesses
Opportunities
- Rising LNG demand and new long-term contracts could support re-employment of vessels returned from earlier charters 1.
- Efficient vessels could attract charterers focused on emissions reduction and regulatory compliance 1.
- The company is exploring accretive growth opportunities, which could expand the fleet if financing conditions are favourable 1.
Threats
- A decline in charter rates, particularly in the spot market, could significantly reduce revenues and vessel values 1.
- An economic slowdown in major LNG import regions could reduce demand and the ability to renew contracts 1.
- Geopolitical tensions and trade restrictions could disrupt shipping routes and raise operating costs 1.
Risks
- Charter rate volatilityhigh
Rates could fall, and vessels not employed on long-term contracts may remain without profitable employment, affecting revenues and loan covenant compliance 1.
- Customer concentrationhigh
A small number of charterers account for almost all revenues, so non-payment or renegotiation of one contract could have a major impact 1.
- Macroeconomics and financingmedium
Inflation and high interest rates could increase borrowing costs and make refinancing harder, particularly for balloon payments 1.
- Environmental regulationmedium
EU ETS costs and new fuel rules could raise expenses and affect the value of older vessels 1.
- Geopolitical and operational risksmedium
Conflicts, attacks on vessels and route disruptions can cause delays, extra costs and periods of unemployed vessels 1.
Investment thesis
What would need to be true (bull case)
- If LNG demand keeps growing and new long-term contracts firm up, revenues could become more predictable 1.
- A relatively young fleet with efficient technology could support winning contracts on favourable terms 1.
- Growth options the company is reviewing could expand the asset base if financing stays accessible 1.
What would break the thesis
What to watch
- Re-employment of vessels redelivered from contracts (Flex Aurora, Flex Volunteer, Flex Artemis) in the spot or term market2026
- Development of charter coverage for the rest of 2026 and the level of charter ratesQ1 2026
- Expiry schedule of the Flex Ranger, Flex Courageous and Flex Resolute chartersQ1 2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 27 Feb 2026; since then the company filed 6-K (19 Aug 2026), 6-K (13 May 2026), 6-K (25 Mar 2026), 6-K (18 Mar 2026).
The business
FLEX LNG is a Bermuda-incorporated company that owns and operates fuel efficient, fifth generation LNG carriers 1. The fleet comprises nine MEGI-propelled vessels and four X-DF dual fuel vessels, all operated under period charters 1. The shares trade exclusively on the NYSE under the symbol FLNG after the delisting from the Oslo Stock Exchange in September 2025 1.
The business model rests on chartering vessels for multi-year periods, mainly on time charters where the charterer pays voyage costs while the company provides crewing and maintenance 1. Revenues depend on fleet size, daily hire and operating days, which are affected by drydockings and offhire 1. Fleet management is provided through technical management agreements with related parties 1.
The customer base is concentrated: four customers accounted for more than 98.5% of total revenues in 2025 1. Assessing charterers' financial strength is an important factor when negotiating employment 1. Recent contracts, such as the 15-year charter for Flex Constellation, extend the long-term revenue visibility 1.
Segments
Fixed-rate period charters
Most vessels, twelve of them, are employed on fixed-rate time charters for several years, providing visibility on future revenues 1. Some contracts include charterer extension options, such as those for Flex Courageous and Flex Resolute, which extend firm periods to 2032 1.
Market context
Seaborne LNG shipping has grown substantially over the past decade, from about 268 million tons in 2016 to about 429 million tons in 2025 1. Demand is tied to economic growth, energy costs and environmental considerations, and the global fleet includes roughly 748 LNG carriers above 40,000 cbm 1. The pace of newbuilding orders and scrapping directly shapes charter rate levels 1.
Charter rates are volatile and depend on the balance between vessel supply and demand, as well as international conflicts, environmental regulation and fuel costs 1. Measures such as the EU ETS and FuelEU Maritime add cost and compliance requirements for vessel operators 1.
Trends
- Rising LNG demandtailwind
LNG charter market demand increased by roughly 4% in 2025, supported by developments in gas resources and liquefaction capacity 1. This growth supports demand for vessels and long-term charters 1.
- Spot rate volatilityheadwind
Spot market rates have in the recent past fallen below vessel operating costs at times, and fluctuations depend on vessel availability and global demand 1. If these conditions persist, revenues from spot employment could be affected 1.
- Environmental regulationmixed
The EU ETS and FuelEU Maritime impose additional costs and promote low-carbon fuels, which can favour efficient vessels while raising operator expenses 1. The net effect depends on how far these costs can be passed on to charterers 1.
- Macroeconomic and geopolitical pressureheadwind
Inflation, high interest rates and conflicts in Ukraine, the Middle East and the Red Sea could raise financing costs and disrupt shipping routes 1. If these pressures persist, access to capital on favourable terms could be limited 1.
Competitive position
The company competes with other LNG carrier operators for charter employment, and vessel attractiveness depends on propulsion technology, fuel consumption and fleet age 1. Industry sources point to a large global fleet and ongoing newbuilding orders, which could intensify rate competition 1.
Competitive strengths include vessels with partial or full re-liquefaction systems and MEGI or X-DF propulsion, which reduce boil-off losses 1. Propulsion technology and energy efficiency influence the ability to secure long-term contracts 1.
- Other LNG carrier operators
The source does not name direct competitors but refers to competition from other shipping companies and the global LNG carrier fleet 1.
- Alternative transport and energy sources
Competition also comes from other transport modes and alternative energy sources that can reduce demand for LNG carriers 1.
- Shipyards delivering newbuildings
Shipyards delivering new vessels shape the supply of capacity and can change market balance 1.
- Operators of alternative-propulsion vessels
Vessels with new propulsion technologies could become competitive if they reduce fuel use and emissions 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Flex LNG (FLNG) Q2 2026 Earnings Call TranscriptYahoo Finance — News · 26 Aug 2026 · EN
SEC filings
- Current report (foreign issuer)19 Aug 2026
- Current report (foreign issuer)19 Aug 2026
- Current report (foreign issuer)13 May 2026
- Current report (foreign issuer)25 Mar 2026
- Current report (foreign issuer)18 Mar 2026
- Annual report (foreign issuer)27 Feb 2026
- Current report (foreign issuer)11 Feb 2026
- Current report (foreign issuer)05 Dec 2025
- Current report (foreign issuer)12 Nov 2025
- Current report (foreign issuer)20 Aug 2025
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / FLEX LNG Ltd. · 27 Feb 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.