Frontline Ltd
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… Read more
Frontline Ltd (FRO) - Net Assets
Latest net assets as of September 2025: $2.33 Billion USD
Based on the latest financial reports, Frontline Ltd (FRO) has net assets worth $2.33 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($5.71 Billion) and total liabilities ($3.39 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $2.33 Billion |
| % of Total Assets | 40.72% |
| Annual Growth Rate | 10.41% |
| 5-Year Change | 45.21% |
| 10-Year Change | 61.8% |
| Growth Volatility | 60.19 |
Frontline Ltd - Net Assets Trend (1993–2024)
This chart illustrates how Frontline Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Frontline Ltd (1993–2024)
The table below shows the annual net assets of Frontline Ltd from 1993 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $2.34 Billion | +2.76% |
| 2023-12-31 | $2.28 Billion | +0.43% |
| 2022-12-31 | $2.27 Billion | +37.22% |
| 2021-12-31 | $1.65 Billion | +2.54% |
| 2020-12-31 | $1.61 Billion | +6.71% |
| 2019-12-31 | $1.51 Billion | +29.72% |
| 2018-12-31 | $1.16 Billion | -1.97% |
| 2017-12-31 | $1.19 Billion | -20.81% |
| 2016-12-31 | $1.50 Billion | +3.69% |
| 2015-12-31 | $1.45 Billion | +2147.22% |
| 2014-12-31 | $-70.65 Million | -291.39% |
| 2013-12-31 | $-18.05 Million | -113.76% |
| 2012-12-31 | $131.15 Million | -38.57% |
| 2011-12-31 | $213.48 Million | -71.88% |
| 2010-12-31 | $759.04 Million | +1.10% |
| 2009-12-31 | $750.75 Million | +5.91% |
| 2008-12-31 | $708.85 Million | +58.95% |
| 2007-12-31 | $445.97 Million | -63.13% |
| 2006-12-31 | $1.21 Billion | +2.00% |
| 2005-12-31 | $1.19 Billion | -4.88% |
| 2004-12-31 | $1.25 Billion | -0.69% |
| 2003-12-31 | $1.26 Billion | +2.32% |
| 2002-12-31 | $1.23 Billion | -2.56% |
| 2001-12-31 | $1.26 Billion | +21.60% |
| 2000-12-31 | $1.04 Billion | +73.98% |
| 1999-12-31 | $595.20 Million | +30.05% |
| 1998-12-31 | $457.68 Million | +264.98% |
| 1997-12-31 | $125.40 Million | +6.72% |
| 1996-12-31 | $117.50 Million | +1.29% |
| 1995-12-31 | $116.00 Million | 0.00% |
| 1994-12-31 | $116.00 Million | +6.91% |
| 1993-12-31 | $108.50 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Frontline Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 4164.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $507.47 Million | 21.68% |
| Common Stock | $222.62 Million | 9.51% |
| Other Comprehensive Income | $1.78 Million | 0.08% |
| Other Components | $1.61 Billion | 68.73% |
| Total Equity | $2.34 Billion | 100.00% |
Frontline Ltd Competitors by Market Cap
The table below lists competitors of Frontline Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Orla Mining Ltd
NYSE MKT:ORLA
|
$4.11 Billion |
|
Chailease Holding Co Ltd
TW:5871
|
$4.11 Billion |
|
Lonza Group AG
PINK:LZAGY
|
$4.11 Billion |
|
GLOBALFOUNDR. INC. DL-02
F:76J
|
$4.11 Billion |
|
China Greatwall Computer Shenzhen Co Ltd
SHE:000066
|
$4.11 Billion |
|
Sundaram Finance Limited
NSE:SUNDARMFIN
|
$4.11 Billion |
|
MSC Industrial Direct Company Inc
NYSE:MSM
|
$4.10 Billion |
|
Itron Inc
NASDAQ:ITRI
|
$4.09 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Frontline Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 2,277,818,000 to 2,340,653,000, a change of 62,835,000 (2.8%).
- Net income of 495,583,000 contributed positively to equity growth.
- Dividend payments of 434,115,000 reduced retained earnings.
- Other comprehensive income increased equity by 1,367,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $495.58 Million | +21.17% |
| Dividends Paid | $434.12 Million | -18.55% |
| Other Comprehensive Income | $1.37 Million | +0.06% |
| Total Change | $- | 2.76% |
Book Value vs Market Value Analysis
This analysis compares Frontline Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.98x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 4.44x to 2.98x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1993-12-31 | $7.05 | $31.30 | x |
| 1994-12-31 | $7.54 | $31.30 | x |
| 1995-12-31 | $7.54 | $31.30 | x |
| 1996-12-31 | $7.64 | $31.30 | x |
| 1997-12-31 | $8.15 | $31.30 | x |
| 1998-12-31 | $49.57 | $31.30 | x |
| 1999-12-31 | $58.36 | $31.30 | x |
| 2000-12-31 | $70.03 | $31.30 | x |
| 2001-12-31 | $81.48 | $31.30 | x |
| 2002-12-31 | $80.23 | $31.30 | x |
| 2003-12-31 | $83.80 | $31.30 | x |
| 2004-12-31 | $54.76 | $31.30 | x |
| 2005-12-31 | $47.79 | $31.30 | x |
| 2006-12-31 | $44.67 | $31.30 | x |
| 2007-12-31 | $29.78 | $31.30 | x |
| 2008-12-31 | $45.93 | $31.30 | x |
| 2009-12-31 | $47.60 | $31.30 | x |
| 2010-12-31 | $44.58 | $31.30 | x |
| 2011-12-31 | $12.91 | $31.30 | x |
| 2012-12-31 | $7.69 | $31.30 | x |
| 2013-12-31 | $-1.69 | $31.30 | x |
| 2014-12-31 | $-0.57 | $31.30 | x |
| 2015-12-31 | $12.04 | $31.30 | x |
| 2016-12-31 | $9.55 | $31.30 | x |
| 2017-12-31 | $6.99 | $31.30 | x |
| 2018-12-31 | $6.85 | $31.30 | x |
| 2019-12-31 | $8.42 | $31.30 | x |
| 2020-12-31 | $8.15 | $31.30 | x |
| 2021-12-31 | $8.31 | $31.30 | x |
| 2022-12-31 | $10.60 | $31.30 | x |
| 2023-12-31 | $10.23 | $31.30 | x |
| 2024-12-31 | $10.51 | $31.30 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Frontline Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 21.17%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 24.17%
- • Asset Turnover: 0.33x
- • Equity Multiplier: 2.66x
- Recent ROE (21.17%) is above the historical average (12.58%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1993 | 3.87% | 16.80% | 0.14x | 1.66x | $-6.65 Million |
| 1994 | 7.24% | 28.77% | 0.16x | 1.54x | $-3.20 Million |
| 1995 | 1.55% | 5.37% | 0.19x | 1.54x | $-9.80 Million |
| 1996 | -11.91% | -7.86% | 0.74x | 2.06x | $-25.75 Million |
| 1997 | 13.88% | 6.70% | 1.51x | 1.37x | $4.86 Million |
| 1998 | 5.90% | 13.24% | 0.15x | 3.01x | $-18.77 Million |
| 1999 | -15.08% | -34.32% | 0.15x | 3.00x | $-144.52 Million |
| 2000 | 30.49% | 52.32% | 0.22x | 2.70x | $210.92 Million |
| 2001 | 30.56% | 53.56% | 0.24x | 2.42x | $257.49 Million |
| 2002 | -0.73% | -2.14% | 0.14x | 2.47x | $-131.60 Million |
| 2003 | 32.61% | 35.31% | 0.26x | 3.56x | $283.82 Million |
| 2004 | 111.48% | 55.53% | 0.42x | 4.73x | $931.59 Million |
| 2005 | 84.85% | 40.56% | 0.33x | 6.39x | $535.32 Million |
| 2006 | 77.18% | 32.58% | 0.35x | 6.87x | $449.14 Million |
| 2007 | 127.91% | 40.22% | 0.38x | 8.44x | $525.82 Million |
| 2008 | 99.51% | 31.11% | 0.56x | 5.74x | $628.55 Million |
| 2009 | 13.85% | 9.20% | 0.30x | 5.01x | $28.57 Million |
| 2010 | 21.60% | 13.85% | 0.31x | 5.08x | $86.69 Million |
| 2011 | -263.50% | -73.20% | 0.39x | 9.16x | $-549.70 Million |
| 2012 | -69.15% | -14.31% | 0.34x | 14.11x | $-94.72 Million |
| 2013 | 0.00% | -36.45% | 0.38x | 0.00x | $-185.81 Million |
| 2014 | 0.00% | 61.81% | 0.25x | 0.00x | $156.57 Million |
| 2015 | 10.69% | 33.69% | 0.16x | 2.00x | $10.00 Million |
| 2016 | 7.80% | 15.51% | 0.25x | 1.98x | $-32.95 Million |
| 2017 | -22.31% | -40.98% | 0.21x | 2.64x | $-383.59 Million |
| 2018 | -0.76% | -1.20% | 0.24x | 2.64x | $-125.26 Million |
| 2019 | 9.27% | 14.62% | 0.26x | 2.45x | $-11.03 Million |
| 2020 | 25.61% | 33.81% | 0.31x | 2.43x | $251.67 Million |
| 2021 | -0.91% | -2.00% | 0.18x | 2.49x | $-180.26 Million |
| 2022 | 20.97% | 33.25% | 0.30x | 2.11x | $248.73 Million |
| 2023 | 28.82% | 36.42% | 0.31x | 2.58x | $428.63 Million |
| 2024 | 21.17% | 24.17% | 0.33x | 2.66x | $261.52 Million |
Industry Comparison
This section compares Frontline Ltd's net assets metrics with peer companies in the Oil & Gas Midstream industry.
Industry Context
- Industry: Oil & Gas Midstream
- Average net assets among peers: $1,230,397,219
- Average return on equity (ROE) among peers: 2202.95%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Frontline Ltd (FRO) | $2.33 Billion | 3.87% | 1.46x | $4.11 Billion |
| Antero Midstream Partners LP (AM) | $142.86 Million | 0.00% | 0.21x | $7.58 Billion |
| AltaGas Ltd (ATGFF) | $2.83 Billion | 7.11% | 1.57x | $8.06 Billion |
| ATGPF (ATGPF) | $7.86 Billion | 8.56% | 1.98x | $4.11 Billion |
| Avance Gas Holding Ltd (AVACF) | $603.79 Million | 27.09% | 0.91x | $7.70K |
| CBL International Limited Ordinary Shares (BANL) | $12.11 Million | 30.42% | 1.11x | $3.17 Million |
| BP Prudhoe Bay Royalty Trust (BPT) | $863.00K | 22418.66% | 0.16x | $2.99 Million |
| Brooge Holdings Ltd (BROG) | $78.49 Million | 16.31% | 4.83x | $32.39 Million |
| Brooge Energy Limited (BROGW) | $56.77 Million | -85.14% | 7.56x | $5.67K |
| Willow Biosciences Inc (CANSF) | $1.10 Million | -405.25% | 0.17x | $2.85 Million |
| Cool Company Ltd (CLCO) | $715.51 Million | 11.75% | 1.88x | $145.96 Million |