Frontline Ltd (FRO) Fair Value & Analysis
Energy · US · Market cap $8.5B · ISIN CY0200352116
What is Frontline Ltd really worth?
Frontline Ltd
FRO · US
A solid business, but trading 205% above our fair value of $14.87.
Strengths
Risks
For context
Fair value as of: Aug 14, 2026
From 26 valuation models · updated 22 days ago
Fair value updated Aug 14, 2026, revised from $15.08 to $14.87 (−1.4%) since Jul 16, 2026. Share price +16.6% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case ($36.27). The favourable scenario is already priced in.
- The model range is unusually wide ($11.72 to $36.27). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 14, 2026.
How to read this chart
60‑month range $4.32 – $45.42 · fair‑value band $11.72 – $36.27 · the $45.42 price screens above the $14.87 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 4 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 14, 2026.
Analysis
Frontline Ltd (FRO) currently trades at $45.42, while our model-based Fair Value estimate is $14.87, implying the stock looks roughly 205.4% overvalued today. The Quality Score stands at 63/100 (solid quality), in the Energy sector. Bull case: the Growth Earnings group reads highest at a median of $28.53 per share, and 4 of the 25 models we run sit above the $45.42 price. Bear case: the Asset-Based group reads lowest at $7.56, and 21 of the 25 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Frontline Ltd generated revenue of $2.3B at a net margin of 40.2%. Revenue grew 66.9% year over year. It earns a return on equity of 35.0%. Net debt stands at $2.8B. Fundamentals as of Aug 14, 2026
Our scenario range runs from $11.72 (bear case) to $36.27 (bull case); at $45.42, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 195% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at −46% fair-value upside, at −67%, FRO screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $0.6319 per share, which is 4.2 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: Growth Earnings ($28.53) versus Asset-Based ($7.56). Highest evidence: FCF DCF (75).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 14, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 61 · Market factors (momentum, volatility) 89
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Frontline plc, a shipping company, engages in the ownership and operation of oil and product tankers worldwide. The company owns and operates oil and product tankers, such as very large crude carriers (VLCCs), Suezmax tankers, and LR2/Aframax tankers.
Full company description
Frontline plc, a shipping company, engages in the ownership and operation of oil and product tankers worldwide. The company owns and operates oil and product tankers, such as very large crude carriers (VLCCs), Suezmax tankers, and LR2/Aframax tankers. As of December 31, 2025, it operated a fleet of 80 vessels, including 41 VLCCs, 21 Suezmax tankers, and 18 LR2/Aframax tankers. The company is also involved in the charter, purchase, and sale of vessels. Frontline plc was founded in 1985 and is based in Limassol, Cyprus.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Frontline Ltd reported revenue of $2.0B in FY2025 versus $749M in FY2021, a compound +27.3%/yr. Reported net income was $379M in FY2025.
of which total revenue +16.6 % · buybacks/dilution −5.5 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
FRO screens 205% overvalued. Compare with Enbridge Inc →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Frontline (FRO) Just Delivered Its Best Quarter Yet, But Can It Last?
- Frontline (FRO) Stock Looks Reasonable Even After A Very Large Run
- What Frontline (FRO)'s Record Q2 Results and Dividend Moves Mean For Shareholders
Peer Group
Oil & Gas Midstream · 89 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Oil & Gas Midstream median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 30/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Oil & Gas Midstream stocks, each showing price versus our Fair Value estimate (as of Aug 14, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Enbridge Inc ENB | $50.72 | $35.83 | −29% |
| The Williams Companies, Inc WMB | $74.05 | $11.73 | −84% |
| Enterprise Products Partners L.P. EPD | $39.02 | $20.94 | −46% |
| TC Energy Corporation TRP | C$88.72 | C$24.53 | −72% |
| Kinder Morgan, Inc KMI | $31.60 | $10.92 | −65% |
| Energy Transfer LP, ET | $21.31 | $11.45 | −46% |
| MPLX LP owns and MPLX | $59.25 | $36.42 | −39% |
| ONEOK, Inc OKE | $95.69 | $58.62 | −39% |
| Targa Resources Corp TRGP | $286.91 | $79.61 | −72% |
| Cheniere Energy, Inc LNG | $280.80 | $199.99 | −29% |
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