Is the business good?
How good a business is FLNG?
FLEX LNG Ltd. earns 6.6% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
6.6%
Return on invested capital · cost of capital 9.0% · 2.5 points below what the capital costs: growth destroys value
- Operating margin
- 51%
Operating margin · Oil & Gas Midstream median 36% · fiscal year to FY2025
- Cash conversion
- 1.88×
Cash conversion · 1.55× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- +0.11%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | 46% |
| FY2021 | 59% |
| FY2022 | 58% |
| FY2023 | 59% |
| FY2024 | 56% |
| FY2025 | 51% |
Details›
- Gross marginfiscal year to FY2025
- 78%
- Operating marginfiscal year to FY2025
- 51%
- Net marginfiscal year to FY2025
- 22%
- Free cash flow margin
- 40%
- Revenue, trailing twelve months
- $348M
- Free cash flow, trailing twelve months
- $141M
- Net income, trailing twelve months
- $75M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 6.6%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Oil & Gas Midstream
Ranks #24 of 27 by Smart Score