Flex LNG Ltd. (FLNG)
FLEX LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. As of December 31, 2025, its fleet consists of 13 LNG carriers in operation. The company was incorporated in 2006 and is based in Hamilton, Bermuda.
- Symbol
- FLNG
- Exchange
- NYSE
- Sector
- Energy
- Industry
- Oil & Gas Midstream
- Market cap
- $1.67B
- 52 week range
- 24 - 33.4
Valuation
- Share price
- $30.96 (close of 2026-09-23)
- P/E (TTM)
- 22.43x
- Price to book
- 2.33x
- Price to free cash flow
- 11.90x
- Enterprise value
- $3.08B
- Book value per share
- $13.30
Price performance
| Period | Change |
|---|
| 1 day | -3.46% |
| 5 days | -4.41% |
| 1 month | -3.34% |
| 3 months | +0.23% |
| 6 months | +1.94% |
| Year to date | +24.09% |
| 1 year | +23.10% |
| 3 years | +3.03% |
| 5 years | +77.42% |
| All time | +176.18% |
Profitability and growth
- Return on equity
- 10.40%
- Return on invested capital
- 8.29%
- Return on assets
- 2.85%
- Return on capital employed
- 7.15%
- Gross margin
- 78.46%
- Net margin
- 21.52%
- EBITDA margin
- 72.61%
- Revenue growth
- -2.44%
- Net income growth
- -36.43%
- Free cash flow growth
- -23.01%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 8.40%
- Current ratio
- 3.03x
- Net debt to EBITDA
- 5.74x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $347.64M
- Cost of revenue
- $74.88M
- Gross profit
- $272.76M
- EBITDA
- $252.42M
- Net income
- $74.81M
- Earnings per share
- $1.38
- Shares outstanding
- 54.09M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $347.64M | $272.76M | $74.81M | $1.38 |
| 2024-12-31 | $356.35M | $286.43M | $117.68M | $2.19 |
| 2023-12-31 | $371.02M | $302.67M | $120.04M | $2.24 |
| 2022-12-31 | $347.92M | $284.50M | $188.04M | $3.53 |
| 2021-12-31 | $343.45M | $282.21M | $162.21M | $3.04 |
| 2020-12-31 | $164.46M | $127.47M | $8.11M | $0.15 |
| 2019-12-31 | $119.97M | $97.54M | $16.97M | $0.31 |
| 2018-12-31 | $77.21M | $56.23M | $11.78M | $0.29 |
| 2017-12-31 | $27.33M | $-2.54M | $-10.41M | $-0.34 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | 78.46% | 21.52% | 10.40% | 8.29% |
| 2024-12-31 | 80.38% | 33.02% | 14.59% | 9.07% |
| 2023-12-31 | 81.58% | 32.35% | 14.16% | 9.65% |
| 2022-12-31 | 81.77% | 54.05% | 20.73% | 8.76% |
| 2021-12-31 | 82.17% | 47.23% | 18.24% | 8.64% |
| 2020-12-31 | 77.50% | 4.93% | 0.97% | 3.58% |
| 2019-12-31 | 81.31% | 14.14% | 2.02% | 3.68% |
| 2018-12-31 | 72.82% | 15.26% | 1.42% | 2.36% |
| 2017-12-31 | -9.31% | -38.08% | -2.00% | -2.47% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $447.63M | $1.74B |
| 2024-12-31 | $437.15M | $1.70B |
| 2023-12-31 | $410.43M | $1.71B |
| 2022-12-31 | $332.33M | $1.62B |
| 2021-12-31 | $200.65M | $1.55B |
| 2020-12-31 | $128.88M | $1.34B |
| 2019-12-31 | $129.10M | $744.28M |
| 2018-12-31 | $55.10M | $431.60M |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $140.74M | $76.00K |
| 2024-12-31 | $182.80M | $1.06M |
| 2023-12-31 | $175.03M | $1.75M |
| 2022-12-31 | $219.88M | $331.00K |
| 2021-12-31 | $214.84M | $-1.27M |
| 2020-12-31 | $89.30M | $284.00K |
| 2019-12-31 | $51.53M | $324.00K |
| 2018-12-31 | $35.71M | $202.00K |
| 2017-12-31 | $-17.75M | $115.00K |
Dividend history
- Most recent payment
- 2026-09-03
- Paid in the last twelve months
- $3.00
| Payment date | Dividend per share |
|---|
| 2026-09-03 | $0.75 |
| 2026-05-29 | $0.75 |
| 2026-02-27 | $0.75 |
| 2025-11-28 | $0.75 |
| 2025-09-05 | $0.75 |
| 2025-06-06 | $0.75 |
| 2025-06-05 | $0.75 |
| 2025-02-19 | $0.75 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-11
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-05-13 | Mar/2026 | - |
| 2026-02-11 | - | - |
| 2025-11-12 | - | - |
| 2025-08-20 | - | - |
| 2025-05-21 | - | - |
| 2025-02-04 | - | - |
| 2024-11-12 | - | - |
| 2024-08-14 | - | - |
Filings and sources
- Company website
- flexlng.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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