NYSE : FLNG
FLEX LNG Ltd. — Financial statements
Energy · Oil & Gas Midstream · Bermuda
Last price 28.37 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.53B
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Financial statements
FLEX LNG Ltd. (FLNG) reported revenue of 360.47M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 360.47M | 347.64M | 356.35M | 371.02M | 347.92M | 343.45M |
| Cost of Revenue | 96.08M | 87.25M | 73.29M | 70.03M | 65.93M | 64.57M |
| Gross Profit | 264.39M | 260.39M | 283.06M | 300.99M | 281.99M | 278.88M |
| Selling, General & Admin | 7.97M | 7.97M | 9.79M | 10.47M | 9.15M | 7.89M |
| Operating Expenses | 86.10M | 84.58M | 85.27M | 83.83M | 81.37M | 77.72M |
| Operating Income | 178.29M | 175.80M | 197.79M | 217.16M | 200.62M | 201.16M |
| Interest Expense | -75.12M | -100.07M | -82.75M | -90.44M | 3.09M | -37.82M |
| Interest & Investment Income | 3.40M | 4.09M | 4.47M | 4.87M | 2.00M | 41.00K |
| Other Non Operating Income (Expenses) | -1.33M | -853.00K | -1.06M | -1.23M | -1.46M | 137.00K |
| EBT Excluding Unusual Items | 105.24M | 78.97M | 118.45M | 130.35M | 204.24M | 163.51M |
| Other Unusual Items | -2.44M | -4.07M | -637.00K | -10.24M | -16.10M | -1.21M |
| Pretax Income | 102.80M | 74.90M | 117.82M | 120.12M | 188.14M | 162.30M |
| Income Tax Expense | 68.00K | 82.00K | 132.00K | 78.00K | 98.00K | 99.00K |
| Net Income | 102.73M | 74.81M | 117.68M | 120.04M | 188.04M | 162.21M |
| Net Income to Common | 102.73M | 74.81M | 117.68M | 120.04M | 188.04M | 162.21M |
| Shares Outstanding (Basic) | 54.09M | 54.09M | 53.85M | 53.70M | 53.20M | 53.32M |
| Shares Outstanding (Diluted) | 54.09M | 54.09M | 54.03M | 53.99M | 53.52M | 53.34M |
| EPS (Basic) | 1.90 | 1.38 | 2.19 | 2.24 | 3.53 | 3.04 |
| EPS (Diluted) | 1.90 | 1.38 | 2.18 | 2.22 | 3.51 | 3.04 |
| Free Cash Flow | 160.14M | 140.74M | 182.79M | 175.03M | 219.88M | -51.09M |
| Free Cash Flow Per Share | 2.96 | 2.60 | 3.38 | 3.24 | 4.11 | -0.96 |
| Dividend Per Share | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 2.30 |
| Gross Margin | 73.34% | 74.90% | 79.43% | 81.12% | 81.05% | 81.20% |
| Operating Margin | 49.46% | 50.57% | 55.51% | 58.53% | 57.66% | 58.57% |
| Profit Margin | 28.50% | 21.52% | 33.02% | 32.35% | 54.05% | 47.23% |
| Free Cash Flow Margin | 44.42% | 40.48% | 51.30% | 47.18% | 63.20% | -14.88% |
| EBITDA | 239.06M | 241.53M | 263.70M | 290.52M | 272.84M | 270.99M |
| EBITDA Margin | 66.32% | 69.48% | 74.00% | 78.30% | 78.42% | 78.90% |
| D&A For EBITDA | 60.77M | 65.72M | 65.90M | 73.36M | 72.22M | 69.83M |
| EBIT | 178.29M | 175.80M | 197.79M | 217.16M | 200.62M | 201.16M |
| EBIT Margin | 49.46% | 50.57% | 55.51% | 58.53% | 57.66% | 58.57% |
| Effective Tax Rate | 0.07% | 0.11% | 0.11% | 0.07% | 0.05% | 0.06% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 397.38M | 447.63M | 437.15M | 410.43M | 332.33M | 200.65M |
| Cash & Short-Term Investments | 397.38M | 447.63M | 437.15M | 410.43M | 332.33M | 200.65M |
| Accounts Receivable | 392.00K | 1.40M | 447.00K | 4.86M | 5.27M | |
| Other Receivables | 42.59M | 40.25M | 24.21M | 19.48M | 5.59M | 9.51M |
| Receivables | 42.59M | 40.65M | 25.61M | 19.93M | 10.45M | 14.78M |
| Inventory | 7.47M | 9.00M | 4.82M | 5.09M | 5.26M | 6.45M |
| Prepaid Expenses | 8.01M | 5.93M | 6.74M | 7.50M | 5.94M | 2.49M |
| Restricted Cash | 65.00K | 49.00K | 119.00K | 72.00K | 518.00K | |
| Total Current Assets | 455.45M | 503.27M | 474.38M | 443.06M | 354.05M | 224.89M |
| Property, Plant & Equipment | 2.08B | 2.10B | 2.15B | 2.22B | 2.27B | 2.34B |
| Long-Term Investments | 22.34M | 18.05M | 40.09M | 48.83M | 55.52M | 5.86M |
| Other Long-Term Assets | 7.47M | |||||
| Total Assets | 2.56B | 2.62B | 2.67B | 2.71B | 2.68B | 2.57B |
| Accounts Payable | 6.12M | 10.51M | 2.00M | 3.51M | 1.79M | 2.02M |
| Accrued Expenses | 14.89M | 644.00K | 471.00K | 358.00K | 21.01M | 12.92M |
| Current Portion of Long-Term Debt | 58.72M | 110.23M | 106.71M | 103.87M | 95.51M | 86.24M |
| Current Unearned Revenue | 30.23M | 32.96M | 26.87M | |||
| Other Current Liabilities | 7.54M | 44.44M | 49.60M | 45.53M | 1.93M | 3.54M |
| Total Current Liabilities | 169.60M | 165.83M | 158.78M | 153.27M | 153.20M | 131.59M |
| Long-Term Debt | 651.68M | 677.25M | 676.89M | 788.05M | 1.02B | 841.50M |
| Long-Term Leases | 1.03B | 1.06B | 1.03B | 920.22M | 597.80M | 710.45M |
| Other Long-Term Liabilities | 7.47M | 163.00K | ||||
| Total Liabilities | 1.86B | 1.90B | 1.86B | 1.86B | 1.77B | 1.68B |
| Common Stock | 545.00K | 545.00K | 545.00K | 5.45M | 5.45M | 5.41M |
| Additional Paid-In Capital | 844.43M | 925.57M | 1.09B | 1.20B | 1.20B | 1.19B |
| Retained Earnings | -138.31M | -202.68M | -277.49M | -354.87M | -293.69M | -295.63M |
| Treasury Stock | -4.18M | -4.18M | -4.22M | -7.56M | -8.08M | -9.45M |
| Shareholders' Equity | 702.48M | 719.26M | 806.63M | 847.65M | 907.09M | 889.39M |
| Total Liabilities & Equity | 2.56B | 2.62B | 2.67B | 2.71B | 2.68B | 2.57B |
| Total Debt | 1.79B | 1.85B | 1.81B | 1.81B | 1.71B | 1.64B |
| Net Cash (Debt) | -1.40B | -1.40B | -1.37B | -1.40B | -1.38B | -1.44B |
| Net Cash Per Share | -25.81 | -25.91 | -25.41 | -25.96 | -25.83 | -26.95 |
| Filing Date Shares Outstanding | 54.09M | 54.09M | 54.09M | 53.74M | 53.68M | 53.13M |
| Total Common Shares Outstanding | 54.09M | 54.09M | 54.09M | 53.74M | 53.68M | 53.13M |
| Working Capital | 285.85M | 337.45M | 315.60M | 289.79M | 200.85M | 93.30M |
| Book Value Per Share | 12.99 | 13.30 | 14.91 | 15.77 | 16.90 | 16.74 |
| Tangible Book Value | 702.48M | 719.26M | 806.63M | 847.65M | 907.09M | 889.39M |
| Tangible Book Value Per Share | 12.99 | 13.30 | 14.91 | 15.77 | 16.90 | 16.74 |
| Machinery | 2.54B | 2.53B | 2.52B | 2.51B | 2.50B | 2.50B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 102.73M | 74.81M | 117.68M | 120.04M | 188.04M | 162.21M |
| Depreciation & Amortization | 60.77M | 65.72M | 65.90M | 73.36M | 72.22M | 69.83M |
| Other Amortization | 19.53M | 13.20M | 12.08M | 2.49M | 4.06M | 4.94M |
| Stock-Based Compensation | 76.00K | 1.06M | 1.75M | 331.00K | -1.27M | |
| Other Operating Activities | -21.25M | 1.64M | -13.27M | -3.44M | -59.19M | -27.44M |
| Change in Accounts Receivable | 25.00K | 346.00K | 100.00K | -726.00K | 168.00K | |
| Change in Inventory | -2.67M | -4.18M | 267.00K | 169.00K | 1.19M | -2.80M |
| Change in Accounts Payable | 3.65M | 8.51M | -1.51M | 1.71M | -222.00K | -1.36M |
| Change in Other Net Operating Assets | -2.67M | -19.39M | 475.00K | -20.32M | 13.28M | 10.73M |
| Operating Cash Flow | 160.14M | 140.74M | 182.80M | 175.03M | 219.88M | 214.84M |
| Capital Expenditures | -4.00K | -2.00K | -5.00K | -265.93M | ||
| Investing Cash Flow | -4.00K | -2.00K | -5.00K | -265.93M | ||
| Long-Term Debt Issued | 2.18B | 1.70B | 2.41B | 1.41B | 723.56M | |
| Long-Term Debt Repaid | -2.14B | -1.70B | -2.31B | -1.33B | -490.39M | |
| Net Debt Issued (Repaid) | -9.31M | 37.31M | -3.21M | 93.83M | 80.26M | 233.16M |
| Issuance of Common Stock | 1.91M | 15.42M | ||||
| Repurchase of Common Stock | -7.79M | |||||
| Common Dividends Paid | -162.27M | -162.27M | -161.67M | -181.22M | -159.52M | -98.93M |
| Other Financing Activities | -3.83M | -5.72M | 7.37M | -9.14M | 1.65M | -3.34M |
| Financing Cash Flow | -175.41M | -130.68M | -155.61M | -96.54M | -88.76M | 123.10M |
| Foreign Exchange Rate Adjustments | -79.00K | 435.00K | -530.00K | -348.00K | 115.00K | 195.00K |
| Miscellaneous Cash Flow Adjustments | 1.00K | 1.00K | ||||
| Net Cash Flow | -15.36M | 10.49M | 26.66M | 78.14M | 131.23M | 72.21M |
| Free Cash Flow | 160.14M | 140.74M | 182.79M | 175.03M | 219.88M | -51.09M |
| Free Cash Flow Margin | 44.42% | 40.48% | 51.30% | 47.18% | 63.20% | -14.88% |
| Free Cash Flow Per Share | 2.96 | 2.60 | 3.38 | 3.24 | 4.11 | -0.96 |
| Levered Free Cash Flow | 143.19M | 111.44M | 149.03M | 137.59M | 218.79M | -84.21M |
| Unlevered Free Cash Flow | 187.97M | 171.68M | 198.24M | 191.62M | 212.79M | -65.50M |
| Cash Interest Paid | 86.01M | 92.78M | 105.11M | 112.53M | 63.45M | 49.00M |
| Cash Income Tax Paid | 219.00K | 100.00K | 132.00K | 55.00K | 102.00K | 145.00K |
| Change in Working Capital | -1.66M | -14.71M | -664.00K | -19.16M | 14.41M | 6.58M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.48B | 1.35B | 1.24B | 1.56B | 1.74B | 1.25B |
| Enterprise Value | 2.87B | 2.75B | 2.62B | 2.97B | 3.16B | 2.73B |
| Last Close Price | 28.37 | 23.12 | 18.88 | 21.35 | 21.61 | 13.82 |
| PE Ratio | 14.36 | 18.04 | 10.54 | 13.01 | 9.26 | 7.69 |
| Forward PE | 12.11 | 11.57 | 12.14 | 11.54 | 12.28 | |
| PS Ratio | 4.15 | 3.88 | 3.48 | 4.21 | 5.00 | 3.63 |
| PB Ratio | 2.18 | 1.88 | 1.54 | 1.84 | 1.92 | 1.40 |
| P/TBV Ratio | 2.13 | 1.88 | 1.54 | 1.84 | 1.92 | 1.40 |
| P/FCF Ratio | 9.34 | 9.59 | 6.79 | 8.92 | 7.92 | |
| P/OCF Ratio | 9.34 | 9.59 | 6.79 | 8.92 | 7.92 | 5.81 |
| EV/Sales Ratio | 8.02 | 7.90 | 7.37 | 8.01 | 9.10 | 7.94 |
| EV/EBITDA Ratio | 12.10 | 11.37 | 9.95 | 10.23 | 11.60 | 10.07 |
| EV/EBIT Ratio | 16.22 | 15.62 | 13.27 | 13.69 | 15.77 | 13.56 |
| EV/FCF Ratio | 18.06 | 19.51 | 14.36 | 16.98 | 14.39 | |
| Debt / Equity Ratio | 2.55 | 2.57 | 2.24 | 2.14 | 1.89 | 1.84 |
| Debt / EBITDA Ratio | 7.50 | 7.65 | 6.86 | 6.24 | 6.28 | 6.05 |
| Debt / FCF Ratio | 11.20 | 13.14 | 9.90 | 10.35 | 7.80 | |
| Net Debt / Equity Ratio | 1.99 | 1.95 | 1.70 | 1.65 | 1.52 | 1.62 |
| Net Debt / EBITDA Ratio | 5.84 | 5.80 | 5.21 | 4.83 | 5.07 | 5.30 |
| Net Debt / FCF Ratio | 8.72 | 9.96 | 7.51 | 8.01 | 6.29 | -28.14 |
| Asset Turnover | 0.14 | 0.13 | 0.13 | 0.14 | 0.13 | 0.14 |
| Inventory Turnover | 15.65 | 12.62 | 14.78 | 13.53 | 11.26 | 12.78 |
| Quick Ratio | 2.59 | 2.94 | 2.92 | 2.81 | 2.24 | 1.64 |
| Current Ratio | 2.69 | 3.04 | 2.99 | 2.89 | 2.31 | 1.71 |
| Return on Equity (ROE) | 14.03% | 9.81% | 14.23% | 13.68% | 20.94% | 18.81% |
| Return on Assets (ROA) | 4.29% | 4.15% | 4.60% | 5.04% | 4.77% | 5.16% |
| Return on Invested Capital (ROIC) | 8.43% | 8.17% | 8.92% | 9.56% | 8.69% | 9.02% |
| Return on Capital Employed (ROCE) | 7.50% | 7.20% | 7.90% | 8.50% | 7.90% | 8.20% |
| Earnings Yield | 6.96% | 5.54% | 9.49% | 7.69% | 10.80% | 13.00% |
| FCF Yield | 10.70% | 10.43% | 14.73% | 11.21% | 12.63% | -4.09% |
| Dividend Yield | 11.00% | 12.03% | 13.08% | 10.32% | 9.25% | 9.79% |
| Payout Ratio | 157.96% | 216.89% | 137.38% | 150.97% | 84.83% | 60.99% |
| Buyback Yield / Dilution | -0.04% | -0.11% | -0.08% | -0.86% | -0.34% | 1.72% |
| Total Shareholder Return | 10.80% | 11.91% | 13.00% | 9.46% | 8.90% | 11.51% |