FLNGFLEX LNG Ltd.
Is it safe?
Nothing alarming, nothing pristine: heavy debt (BB) and typical volatility.
Moderately leveraged. A rule of thumb on leverage, not a credit rating.
Moderate price swings, typical volatility. Worst drawdown -72% · now 5% below its 52-week high.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can FLNG take a bad year?
FLEX LNG Ltd. carries $1.40B of net debt at 5.55× EBITDA: a heavy load to carry through a bad year.
Net debt · as at FY2025 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 5.55×
Net debt / EBITDA · 5.03× a year ago · the load is going up
- Interest cover
- 1.90×
Interest cover · operating profit barely covers the interest bill
- Annualised volatility
- 29%
Annualised volatility · about as steady as the market itself
Details›
- Total debtFY2025
- $1.85B
- Cash and short-term investments
- $448M
- Net debt
- $1.40B
- EBITDA, trailing twelve months
- $252M
- Operating profit, trailing twelve months
- $176M
- Debt / equity
- 2.57×
- Total debt / EBITDA
- 7.32×
- Annualised volatilitytwo years of daily moves
- 29%
- Worst drawdown on file
- −72%
- Below its 52-week high
- 5.1%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.