olivLaw · European equity research
Frontline Plc FRO.OL
Norway · Euronext Oslo Børs · Vertical: Listed companies from Norway
Frontline Plc owns and operates a fleet of tankers that carry crude oil and refined petroleum products for major oil companies and traders. Its young, energy-efficient fleet, largely traded on the spot market, is exposed to a cyclical industry in which sanctions and shifting oil flows shape demand for compliant tonnage.
At the close of 06 Nov 2026, Frontline Plc (FRO.OL) stock was 424.70 NOK (−4.20% on the day), with beta 0.11, 52-week range 208.60–566.00 NOK.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 32.4
- weak (30–45)
- Bollinger (20, 2)
- 430.41 – 567.67
- below the lower band · %B -0.04 · band width 27.5%
- SMA 50 / 200
- 479.65 / 377.67
- mixed trend
- MACD (12, 26, 9)
- -7.43 / 3.23
- 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 | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −17.1% | −0.6% | −16.4 pp | — |
| 3 months | +15.1% | −4.2% | +19.3 pp | — |
| 6 months | +18.6% | +4.3% | +14.3 pp | — |
| Year to date | +91.0% | +7.5% | +83.5 pp | — |
| 1 year | +75.9% | +9.9% | +65.9 pp | −4.7% |
| 3 years | +75.6% | +49.8% | +25.7 pp | +12.7% |
| 5 years | +470.2% | +42.8% | +427.4 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
the price (USD) and the reports are in different currencies
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.
Fiscal years
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | 1.4 bn | 1.8 bn | 2.1 bn | 2.0 bn |
| Revenue YoY | unavailable | +26.0% | +13.8% | −4.2% |
| Net income | 475.5 m | 656.4 m | 495.6 m | 379.1 m |
| Net income YoY | unavailable | +38.0% | −24.5% | −23.5% |
| Diluted EPS | 2.22 | 2.95 | 2.23 | 1.70 |
| Diluted EPS YoY | unavailable | +32.9% | −24.4% | −23.8% |
| net % | 33.2% | 36.4% | 24.2% | 19.3% |
| Free cash flow | 49.5 m | -775.2 m | -178.8 m | 669.9 m |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 251.3 m USD
- Financial debt
- 2.7 bn USD
- Net debt
- 2.5 bn USD
- Equity
- 2.5 bn USD
- Total assets
- 5.8 bn USD
- Debt / equity
- 1.09x
- Current ratio
- 1.43x
- ROE
- 15.6%
- ROA
- 6.3%
- FCF margin
- 34.1%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|
| Revenue | 1.4 bn | 1.8 bn | 2.1 bn | 2.0 bn | esef· 21 Oct 2026verified |
| Operating income | 445.6 m | 746.7 m | 781.7 m | 598.8 m | esef· 21 Oct 2026verified |
| Interest expense | 45.3 m | 171.3 m | 295.1 m | 233.2 m | esef· 21 Oct 2026verified |
| Pre-tax income | 475.9 m | 656.6 m | 503.3 m | 385.1 m | esef· 21 Oct 2026verified |
| Income tax | 412.0 k | 205.0 k | 7.7 m | 6.0 m | esef· 21 Oct 2026verified |
| Net income | 475.5 m | 656.4 m | 495.6 m | 379.1 m | esef· 21 Oct 2026verified |
| Diluted EPS | 2.22 | 2.95 | 2.23 | 1.70 | esef· 21 Oct 2026verified |
| Dividend per share | 0.16 | 2.87 | 2.23 | 1.70 | esef· 21 Oct 2026verified |
Balance sheet · USD
| Line | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|
| Cash | 254.5 m | 308.3 m | 413.5 m | 251.3 m | esef· 21 Oct 2026verified |
| Receivables | — | 124.6 m | 128.9 m | 134.0 m | esef· 21 Oct 2026verified |
| Inventories | — | 135.2 m | 137.0 m | 120.1 m | esef· 21 Oct 2026verified |
| Current assets | — | 727.9 m | 826.0 m | 707.3 m | esef· 21 Oct 2026verified |
| Goodwill | — | 112.5 m | 112.5 m | 112.5 m | esef· 21 Oct 2026verified |
| Total assets | — | 5.9 bn | 6.2 bn | 5.8 bn | esef· 21 Oct 2026verified |
| Accounts payable | — | 98.2 m | 98.8 m | 143.1 m | esef· 21 Oct 2026verified |
| Long-term debt | — | 3.2 bn | 3.3 bn | 2.7 bn | esef· 21 Oct 2026verified |
| Current liabilities | — | 409.1 m | 595.7 m | 494.7 m | esef· 21 Oct 2026verified |
| Total liabilities | — | 3.6 bn | 3.9 bn | 3.2 bn | esef· 21 Oct 2026verified |
| Equity | 2.3 bn | 2.3 bn | 2.3 bn | 2.5 bn | esef· 21 Oct 2026verified |
| Shares outstanding at year end | 214.2 m | 222.5 m | 222.2 m | 223.0 m | esef· 21 Oct 2026derived |
Cash flow · USD
| Line | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|
| Operating cash flow | 385.3 m | 856.2 m | 736.4 m | 682.5 m | esef· 21 Oct 2026verified |
| Capex | 335.8 m | 1.6 bn | 915.2 m | 12.5 m | esef· 21 Oct 2026verified |
| Free cash flow | 49.5 m ≈ | -775.2 m ≈ | -178.8 m ≈ | 669.9 m ≈ | esef· 21 Oct 2026derived |
| Investing cash flow | -257.3 m | -1.2 bn | -483.4 m | 25.0 m | esef· 21 Oct 2026verified |
| Financing cash flow | 13.4 m | 433.1 m | -147.8 m | -869.6 m | esef· 21 Oct 2026verified |
| Dividends paid | 33.4 m | 638.9 m | 434.1 m | 207.0 m | esef· 21 Oct 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
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 weight coverage: 54.2% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
06 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Price and reporting are in different currencies; market indicators are unavailable.
Key indicators
Coverage and freshness
Score by group
54% · Insufficient data
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: 15.57 – 53.71 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/E15.57 – 53.71 (Mid 33.59)19 companies used · median multiple 19.8x · quartiles 9.2x – 31.6xABG.OL, ABTEC.OL, AFG.OL, AKER.OL, AKSO.OL, AKVA.OL, APR.OL, ARR.OL, ATEA.OL, AUSS.OL, B2I.OL, BONHR.OL, BOR.OL, BOUV.OL, BRG.OL, CLOUD.OL, DELIA.OL, ELK.OL, ELMRA.OL
- Dividend discount (DDM)22.34 – 30.04 (Mid 25.63)
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
Insufficient data
Minimum-evidence gate: score weight coverage: 54.2% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 11.5% | 64 (vs peers) | 19% |
| Net margin · Quality | 19.3% | 89 (vs peers) | 12% |
| FCF conversion · Quality | 176.7% | 100 (on a fixed band) | 12% |
| Revenue CAGR 3Y · Growth | 11.2% | 93 (on a fixed band) | 15% |
| EPS CAGR 3Y · Growth | -8.5% | 0 (on a fixed band) | 15% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 2.6x | 16 (on a fixed band) | 12% |
| Current ratio · Balance sheet | 1.4x | 52 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | 30.9% | 100 (on a fixed band) | 8% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet31/100 · 2/3 factors with a value
- Growth47/100 · 2/2 factors with a value
- Quality81/100 · 3/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation· partialunavailable · 0/3 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
FRONTLINE PLC (FRO.OL). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 2.0 bn USD in 2025; YoY growth -4.2%; net margin 19.3%; ROE 15.6%.
The estimated value range is 18.95–41.87 USD per share (median of 2 methods, agreement: high); assumptions are illustrative. The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 54.2% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 19.3%
- FCF conversion: 176.7%
- Revenue CAGR 3Y: 11.2%
- Payout ratio (FCF): 30.9%
What contradicts it
- EPS CAGR 3Y: -8.5%
- Interest coverage: 2.6x
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions).
Versus the vertical median
Listed companies from Norway · same country · compared with 39 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 | |
|---|---|---|---|---|---|---|
| AKER.OLAker Asa | 79.8 bn | 20.3 | 7.9% | 21.4% | +42.5% | +36% / +59% |
| AFG.OLAf Gruppen Asa | 21.5 bn | 19.8 | 39.7% | 3.4% | +4.4% | +8% / +69% |
| ELK.OLElkem Asa | 19.2 bn | 39.3 | 1.9% | 2.7% | −15.7% | +10% / +73% |
| ATEA.OLAtea Asa | 18.5 bn | 21.4 | 19.7% | 2.3% | +8.1% | +11% / +36% |
| AKSO.OLAker Solutions Asa | 17.4 bn | 6.8 | 22.5% | 4.1% | +19.2% | +18% / −12% |
| AUSS.OLAustevoll Seafood Asa | 16.6 bn | 37.1 | 1.6% | 1.1% | +11.1% | −7% / +10% |
| BRG.OLBorregaard Asa | 15.6 bn | 25.1 | 11.4% | 8.0% | +1.3% | −18% / −9% |
| BONHR.OLBonheur ASA | 11.2 bn | 7.8 | 17.1% | 11.4% | −10.8% | +17% / +44% |
| AFK.OLArendals Fossekompani Asa | 10.3 bn | — | -2.3% | -3.1% | −14.9% | +39% / +31% |
| B2I.OLB2 Impact Asa | 8.8 bn | 14.3 | 11.0% | 16.4% | +2.6% | +40% / +238% |
| AKVA.OLAkva Group Asa | 5.7 bn | 31.2 | 13.7% | 4.2% | +24.4% | +74% / +152% |
| ELMRA.OLElmera Group Asa | 5.1 bn | 32.0 | 10.5% | 1.3% | −0.9% | +32% / +98% |
| BOUV.OLBouvet Asa | 5.0 bn | 14.2 | 80.7% | 9.2% | −0.2% | −19% / −16% |
| CLOUD.OLCloudberry Clean Energy Asa | 4.0 bn | 61.9 | 1.3% | 13.1% | +34.0% | −5% / +29% |
| ABG.OLAbg Sundal Collier Holding Asa | 3.6 bn | 10.7 | 34.9% | 16.8% | +12.4% | −13% / +20% |
| ANDF.OLAndfjord Salmon Group As | 2.2 bn | — | -5.7% | -12,770.4% | +328.9% | −18% / −11% |
| BMA.OLByggma Asa | 1.6 bn | — | -25.3% | -11.9% | −2.5% | +61% / +15% |
| APR.OLAppear Asa | 1.4 bn | 10.5 | 30.1% | 16.1% | +32.3% | −53% / unavailable |
| AZT.OLArcticzymes Technologies Asa | 1.1 bn | 108.9 | 2.9% | 8.6% | +7.9% | −8% / −48% |
| CAPSL.OLCapsol Technologies Asa | 884.6 m | — | -89.4% | -114.8% | −25.0% | −33% / −66% |
| BOR.OLBorgestad Asa | 553.2 m | 36.1 | 2.1% | 1.4% | −3.0% | −7% / +41% |
| ARR.OLArribatec Group Asa | 234.6 m | 4.8 | 22.1% | 9.3% | +15.7% | −33% / −55% |
| DELIA.OLDellia Group Asa | 73.5 m | 1.5 | 22.6% | 7.7% | +140.0% | −62% / unavailable |
| ABTEC.OLAqua Bio Technology Asa | 11.1 m | 0.1 | — | 7,297.7% | −87.2% | −82% / −97% |
| AGLX.OLAgilyx Asa | — | — | -182.4% | -12,189.3% | +20.3% | −40% / −41% |
1- and 3-year price returns: for FRO.OL 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
Scenarios are not available. input data missing
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.
In brief
Frontline Plc owns and operates a fleet of tankers that carry crude oil and refined petroleum products for major oil companies and traders. Its young, energy-efficient fleet, largely traded on the spot market, is exposed to a cyclical industry in which sanctions and shifting oil flows shape demand for compliant tonnage.1
SWOT
Strengths
- A modern, energy-efficient fleet, one of the youngest in the industry, with a high share of ECO vessels.
- A large fleet size that supports negotiations with major clients and competitive terms from suppliers.
- No reliance on individual customers holding a significant share of revenue.
Weaknesses
- High exposure to the spot market, which makes results sensitive to rate fluctuations.
- Activity concentrated in one segment, tankers, with no diversification into other vessel types.
- Outsourced ship management means technical performance depends on third parties.
Opportunities
- A redistribution of market share toward compliant fleets could support utilisation of the company's vessels.
- Longer-term charter contracts could reduce exposure to spot market volatility.
- Transport demand linked to growing consumption in Asia could support volumes on the company's routes.
Threats
- International sanctions and policy changes can quickly alter trade routes and available customers.
- A large wave of newbuilding deliveries could outpace demand and compress rates across the market.
- Geopolitical tensions and stricter environmental rules could raise operating costs.
Risks
- Industry cyclicalityhigh
Profitability, vessel values and freight rates are volatile, and a fall in demand could quickly affect revenue.1
- Sanctions and geopoliticshigh
Expanding sanctions lists can restrict routes and customers, and policy changes could materially shift oil flows.1
- Spot market exposuremedium
Most of the fleet trades on the spot market, so revenue depends on daily rates and is harder to predict.1
- Reliance on third partiesmedium
Technical management, crewing and accounting are outsourced, which could create operational vulnerabilities if providers fall short.1
- Environmental regulationlow
Stricter emission standards may require additional investment in vessels and equipment, affecting costs.1
Investment thesis
What would need to be true (bull case)
- If supply constraints and rising demand are confirmed, the company's modern and sizeable fleet could benefit from stronger spot rates.
- A young, energy-efficient fleet could attract customers who demand high environmental and safety standards.
- Charter contracts agreed in early 2026 could provide some predictability of revenue.
What would break the thesis
- If spot rates fall, revenue could return quickly to lower levels given the high exposure to this segment.
- If newbuilding deliveries exceed demand, pressure on rates could compress margins across the sector.
- Sudden changes in sanctions or trade policy could disrupt routes and affect fleet utilisation.
What to watch
- Evolution of spot rates for VLCC and Suezmax tankersQ1 2027
- Performance of one-year time charter contracts agreed in January and February 20262027
- Changes in the share of compliant fleets and in OFAC sanctions enforcementnext 10-K
- Newbuilding deliveries and their effect on tonnage oversupply2027
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.
The business
As of 31 December 2025 the fleet consisted of 80 vessels owned by the company, with an aggregate capacity of about 17.6 million DWT, split into VLCCs, Suezmax and LR2/Aframax tankers.1 The company transports crude and refined products between the Middle East Gulf, Northern Europe, the Far East, the Caribbean and the US Gulf.1 Commercial and operational management is handled by Frontline group entities, while technical management and crewing are outsourced to third-party ship managers.1
The strategy combines time charters that provide fixed income with spot trading of the rest of the fleet, so the company can capture any stronger spot market.1 The company emphasises a modern fleet, operational safety, compliance with environmental rules and high vessel utilisation.1
The fleet is young relative to the industry, and investment in modern tonnage and fuel-saving technology is presented as a core pillar of the environmental strategy.1 No customer accounted for 10% or more of consolidated operating revenues in the years 2023 to 2025.1
Segments
VLCC tankers
The VLCC segment comprises 41 vessels, nearly all on the spot market at year-end 2025.1 In January 2026 the company agreed one-year time charter-out contracts for seven VLCCs at an average of 76,900 USD per day per vessel, and another vessel was fixed at 93,500 USD per day.1
Suezmax tankers
The Suezmax fleet numbered 21 vessels at 31 December 2025, mostly traded on the spot market, with trade concentrated in the Atlantic Basin, Middle East and Southeast Asia.1
Market context
Global oil consumption averaged about 104.1 million barrels per day in 2025, an increase of 1.3 million barrels per day on 2024, with China the largest contributor to demand growth.1 Global supply reached record levels of 108.3 million barrels per day in the fourth quarter.1
Sanctions enforcement shifted some transport demand toward compliant fleets in 2025, with about one-fifth of the global crude and product tanker fleet sanctioned by at least one major authority.1 The company expects that structural supply constraints could partly offset scheduled newbuilding deliveries.1
Trends
- Sanctions and the compliant fleettailwind
Stricter sanctions enforcement has raised utilisation and market share for compliant fleets, and a shift of trade away from sanctioned cargoes could support rates for unaffected vessels.1
- Ageing global fleettailwind
The world tanker fleet is ageing quickly, which could limit net tonnage growth and support the market over the medium term.1
- Spot market volatilityheadwind
High spot exposure means revenue moves strongly with day rates, and a reversal in demand could reduce results quickly.1
- Shifts in trade flowsmixed
The US-India trade agreement and changing Venezuelan exports may alter crude routes, with mixed effects on distances and vessel demand.1
Competitive position
The market for seaborne oil transport is highly fragmented and competitive, with operators including oil majors' captive fleets, independent owners and vessel pools.1 Competition is based on price, location, size, age, condition and the acceptability of the vessel and its manager, and international brokers play a major role in matching ships to cargoes.1
Oil majors and traders that operate their own ships compete directly with independent owners, which can limit rates on some routes.1 The company's fleet size is presented as an advantage in negotiating with clients and suppliers.1
- Oil major captive fleets
Company-owned vessels of major oil firms that also carry third-party cargo, competing directly with independent owners.
- Independent ship owners
Owners of tanker fleets that compete for spot and long-term charters.
- Vessel pools
Groups of owners that combine their ships and offer them to customers on the same terms as independent fleets.
- International shipbrokers
Intermediaries who find the right ship for each cargo, indirectly shaping competition for charters.
News & filings
In the press
- Russian drone attacks repair crew in frontline region,killing energy workerUkrinform (UA, EN) · 06 Nov 2026 · EN
- Frontline Education Data Breach Impacts Over 1.3 MillionSecurityWeek · 03 Nov 2026 · EN
- Ukraine’s ‘Stargate’ drone carries wounded troops from frontlineEuronews — News (EN) · 02 Nov 2026 · EN
- South Korean soldier found dead at frontline post near North KoreaAnadolu Agency (TR, EN) · 02 Nov 2026 · EN
- South Korean army sergeant dies at frontline unit with external injuriesCNA (Channel NewsAsia) · 02 Nov 2026 · EN
- South Korean army sergeant dies at frontline unit with external injuriesThe Straits Times — Asia · 02 Nov 2026 · EN
- 'We came back from hell', say Ukrainians after years in Russia-occupied frontline cityBBC — Europe · 31 Oct 2026 · EN
- Ukrainian Neptune strike destroys two Russian Su-34 bombers used to attack frontline cities, Ukraine’s Navy saysEuromaidan Press (UA, EN) · 29 Oct 2026 · EN
- Ukrainian soldier’s frontline phone messages show tragic human cost of maintaining resistance against Russian forces in Kostiantynivka (Ukraine Battlefield update, day 1,707)EUobserver · 28 Oct 2026 · EN
- Ukraine Holds Its Strongest Frontline Position in a Long Time, Zelensky SaysKyiv Post · 27 Oct 2026 · EN
- Oleshky Evacuation: Russia Announces Kherson Frontline ‘Silence Regime’Kyiv Post · 23 Oct 2026 · EN
- 'It's been relentless' say IT workers on frontline of PHP cyber-security scrambleBBC News — Technology · 23 Oct 2026 · EN
- US Army long-range fires make a splash on the frontline with ChinaDefense News (US, EN) · 22 Oct 2026 · EN
- Zelensky open to freezing conflict with Russia along current frontline _ Guangming OnlineSurge — GDELT DOC · 22 Oct 2026 · RO
- Empowering frontline maternal care with AI-assisted ultrasoundGoogle Research Blog · 21 Oct 2026 · EN
- Borneo is burning - living on the frontline of Asia's toxic hazeBBC World News · 20 Oct 2026 · EN
- US Church on frontline of battle against drug known as 'tranq'BBC World News · 19 Oct 2026 · EN
- Zelensky says Starshield speed limits slowing down frontline responseFrance24 — Europe · 19 Oct 2026 · EN
- Zelensky Says Starlink Still Not Fully Restored, Disrupting Russian Drone Interceptions and Food Deliveries to Frontline TroopsKyiv Post · 17 Oct 2026 · EN
- Human rights ombudswoman assists in evacuating three women from frontline villageTASS (RU, EN) · 16 Oct 2026 · EN
Annual reports (ESEF)
- Annual report 202521 Oct 2026
- Annual report 202408 May 2025
- Annual report 202308 May 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Frontline Plc · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.