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FRO 
Frontline Ltd (FRO)
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Upturn Advisory Summary
01/06/2026: FRO (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
6 Analysts rated it
Limited analyst coverage, niche firm, research info may be scarce.
1 Year Target Price $29.38
1 Year Target Price $29.38
| 5 | Strong Buy |
| 1 | Buy |
| 0 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 26.78% | Avg. Invested days 50 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  3.0 |
| Profits based on simulation | Last Close 01/06/2026 |
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 4.63B USD | Price to earnings Ratio 21.21 | 1Y Target Price 29.38 |
Price to earnings Ratio 21.21 | 1Y Target Price 29.38 | ||
Volume (30-day avg) 6 | Beta 0.07 | 52 Weeks Range 11.98 - 25.78 | Updated Date 01/6/2026 |
52 Weeks Range 11.98 - 25.78 | Updated Date 01/6/2026 | ||
Dividends yield (FY) 4.47% | Basic EPS (TTM) 0.98 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 12.34% | Operating Margin (TTM) 20.8% |
Management Effectiveness
Return on Assets (TTM) 4.45% | Return on Equity (TTM) 9.33% |
Valuation
Trailing PE 21.21 | Forward PE 6.72 | Enterprise Value 7629652055 | Price to Sales(TTM) 2.62 |
Enterprise Value 7629652055 | Price to Sales(TTM) 2.62 | ||
Enterprise Value to Revenue 4.32 | Enterprise Value to EBITDA 15.9 | Shares Outstanding 222622889 | Shares Floating 131262908 |
Shares Outstanding 222622889 | Shares Floating 131262908 | ||
Percent Insiders 35.79 | Percent Institutions 31.31 |
Upturn AI SWOT
Frontline Ltd
Company Overview
History and Background
Frontline Ltd. was founded in 1996 and is one of the world's largest independent tanker companies. It has grown significantly through strategic acquisitions and fleet expansions, establishing itself as a key player in the global seaborne transportation of crude oil and refined petroleum products. The company has undergone several restructurings and mergers, notably the significant acquisition of consolidated tanker operations from Maersk Tankers in 2012 and the merger with Euronav in 2023, creating one of the largest VLCC and Suezmax tanker fleets globally. This merger, however, was later terminated in early 2024, leaving Frontline to operate as an independent entity.
Core Business Areas
- Tanker Operations: Frontline Ltd. is primarily engaged in the seaborne transportation of crude oil and refined petroleum products across the globe. The company operates a large fleet of crude oil tankers, including Very Large Crude Carriers (VLCCs) and Suezmax vessels, as well as product tankers.
Leadership and Structure
Frontline Ltd. is led by a management team and overseen by a Board of Directors. The specific names and roles of the current leadership team are subject to change and are best verified through the company's official investor relations website.
Top Products and Market Share
Key Offerings
- Crude Oil Tankers (VLCCs and Suezmax): Frontline operates a substantial fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are essential for transporting large volumes of crude oil globally. The market share for these specific vessel classes is fragmented among numerous global shipping companies. Competitors include but are not limited to, International Seaways, Inc. (INSW), Teekay Corporation (TNK), and DHT Holdings, Inc. (DHT).
- Product Tankers: The company also operates a fleet of product tankers used to transport refined petroleum products such as gasoline, diesel, and jet fuel. This segment faces competition from companies like Ardmore Shipping Corporation (ASC) and Scorpio Tankers Inc. (STNG).
Market Dynamics
Industry Overview
The tanker shipping industry is highly cyclical, driven by global oil demand and supply dynamics, geopolitical events, and charter rates. Freight rates are influenced by vessel supply (new builds, demolitions) and demand for oil transportation. The industry is also subject to environmental regulations and the ongoing transition towards cleaner fuels.
Positioning
Frontline Ltd. is positioned as one of the largest global tanker operators with a significant fleet of modern, eco-efficient vessels. Its competitive advantages include economies of scale, a diversified fleet, and a strong track record in chartering and vessel management.
Total Addressable Market (TAM)
The Total Addressable Market for tanker shipping is vast, encompassing the global trade of crude oil and refined products. While precise TAM figures are dynamic and depend on future energy demand, it represents billions of dollars in shipping revenue annually. Frontline Ltd. aims to capture a significant portion of this market through its large fleet and operational efficiency.
Upturn SWOT Analysis
Strengths
- Large and modern fleet of crude oil and product tankers.
- Economies of scale in operations and procurement.
- Experienced management team with a strong track record in the shipping industry.
- Diversified revenue streams from different tanker segments.
- Focus on fuel-efficient and environmentally compliant vessels.
Weaknesses
- High capital expenditure requirements for fleet renewal and maintenance.
- Exposure to volatile freight rates and market downturns.
- Sensitivity to global economic conditions and oil price fluctuations.
- Reliance on chartering contracts which can be fixed for periods, limiting upside during rate spikes.
Opportunities
- Increasing global demand for oil transportation as economies recover.
- Potential for consolidation and strategic acquisitions in the fragmented tanker market.
- Investment in new technologies to enhance efficiency and reduce emissions.
- Higher charter rates driven by supply constraints and increased trade volumes.
- Geopolitical events impacting oil supply routes and demand.
Threats
- Increased competition from new builds and existing players.
- Stricter environmental regulations and potential for non-compliance fines.
- Economic recessions leading to reduced oil demand.
- Disruptions to global trade routes due to geopolitical instability or pandemics.
- Rising operational costs, including fuel, crew, and maintenance.
Competitors and Market Share
Key Competitors
- International Seaways, Inc. (INSW)
- DHT Holdings, Inc. (DHT)
- Teekay Corporation (TNK)
- Scorpio Tankers Inc. (STNG)
- Ardmore Shipping Corporation (ASC)
Competitive Landscape
Frontline's advantages lie in its scale and operational efficiency, allowing it to compete effectively on cost. However, it faces intense competition from other large players and numerous smaller operators, all vying for charter contracts in a volatile market.
Major Acquisitions
Consolidated tanker operations from Maersk Tankers
- Year: 2012
- Acquisition Price (USD millions):
- Strategic Rationale: To significantly expand Frontline's fleet and market presence in the crude oil tanker sector.
Growth Trajectory and Initiatives
Historical Growth: Frontline's growth has primarily been driven by fleet expansion through new builds and acquisitions, and to a lesser extent, through organic growth by optimizing vessel utilization and chartering strategies. Significant historical growth periods have coincided with favorable market conditions.
Future Projections: Future growth projections for Frontline Ltd. will depend on global energy demand, the supply of new vessels, and the company's ability to secure favorable charter agreements. Analyst estimates for future EPS and revenue will provide insights into projected growth.
Recent Initiatives: Recent initiatives may include fleet modernization, strategic partnerships, or fleet optimization to adapt to evolving market demands and environmental regulations. The termination of the Euronav merger is a significant recent event that reshapes its strategic path.
Summary
Frontline Ltd. is a major global tanker operator with a strong fleet and significant market presence. Its performance is inherently tied to the volatile shipping market, making it subject to cyclical fluctuations. While its scale provides competitive advantages, the company must navigate high capital costs and global economic uncertainties. Continued focus on operational efficiency and adapting to environmental regulations will be key to its future success.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Frontline Ltd. Investor Relations (Annual Reports, SEC Filings)
- Industry Financial News and Analysis Platforms
- Market Data Aggregators
Disclaimers:
This analysis is based on publicly available information and is intended for informational purposes only. It does not constitute financial advice. Investors should conduct their own due diligence before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Frontline Ltd
Exchange NYSE | Headquaters - | ||
IPO Launch date 2001-08-06 | CEO - | ||
Sector Energy | Industry Oil & Gas Midstream | Full time employees 85 | Website https://www.frontlineplc.cy |
Full time employees 85 | Website https://www.frontlineplc.cy | ||
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, 2024, it operated a fleet of 81 vessels, including 41 VLCCs, 22 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.
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