FROFrontline plc
Is it safe?
Nothing alarming, nothing pristine: comfortable debt (BBB) and big price swings.
Investment-grade balance sheet. A rule of thumb on leverage, not a credit rating.
Large price swings, high volatility. Worst drawdown -52% · now at/near 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 FRO take a bad year?
Frontline plc carries $2.82B of net debt at 3.04× EBITDA: a load its earnings can carry.
Net debt · as at FY2025 · between two and four years of EBITDA, normal for a stable business
- Net debt / EBITDA
- 3.04×
Net debt / EBITDA · 2.97× a year ago · the load is going up
- Interest cover
- 2.57×
Interest cover · operating profit covers the interest bill, with room to spare
- Annualised volatility
- 48%
Annualised volatility · roughly twice as jumpy as the market
Details›
- Total debtFY2025
- $3.07B
- Cash and short-term investments
- $251M
- Net debt
- $2.82B
- EBITDA, trailing twelve months
- $927M
- Operating profit, trailing twelve months
- $599M
- Debt / equity
- 1.22×
- Total debt / EBITDA
- 3.31×
- Annualised volatilitytwo years of daily moves
- 48%
- Worst drawdown on file
- −52%
- Below its 52-week high
- 0.23%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.