NYSE · Financial Statements

FLEX LNG Ltd. (FLNG) Financial Statements

$28.57 NYSE: FLNG Market Cap $1.55B

FLEX LNG Ltd. most recently reported annual revenue of $348.0M, net profit of $75.0M. Revenue grew at an average annual rate of 16.2% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

FLEX LNG Ltd.: net profit was positive in 8 of 10 reported years; operating margin moved from -46.2% to 50.6%, a shift of +96.7 percentage points; the most recent year shows net profit of $75.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$0$27.0M$77.0M$120.0M$164.0M$343.0M$348.0M$371.0M$356.0M$348.0M
Operating Expenses$1.0M$40.0M$48.0M$65.0M$89.0M$142.0M$147.0M$154.0M$159.0M$172.0M
Operating Profit$-1.0M$-13.0M$29.0M$55.0M$76.0M$201.0M$201.0M$217.0M$198.0M$176.0M
Operating Margin0.0%-46.2%37.6%45.9%46.0%58.6%57.7%58.5%55.5%50.6%
Other Income$0$2.0M$-17.0M$-38.0M$-67.0M$-39.0M$-12.0M$-97.0M$-80.0M$-101.0M
Interest$0$0$18.0M$34.0M$42.0M$56.0M$77.0M$109.0M$106.0M$93.0M
Depreciation$0$0$17.0M$29.0M$42.0M$70.0M$72.0M$73.0M$75.0M$77.0M
Profit Before Tax$-2.0M$-10.0M$12.0M$17.0M$8.0M$162.0M$188.0M$120.0M$118.0M$75.0M
Tax$60,000$-160,000$-80,000$1.1M$1.0M$60,000$50,000$60,000$110,000$110,000
Net Profit$-2.0M$-10.0M$12.0M$17.0M$8.0M$162.0M$188.0M$120.0M$118.0M$75.0M
EPS$-0.14$-0.34$0.29$0.31$0.15$3.04$3.51$2.22$2.18$1.38
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$95.0M$97.0M$90.0M$85.0M$90.0M$91.0M$88.0M$86.0M$86.0M$88.0M$80.0M$107.0M
Operating Expenses$38.0M$40.0M$38.0M$40.0M$39.0M$41.0M$41.0M$42.0M$44.0M$45.0M$46.0M$47.0M
Operating Profit$56.0M$58.0M$52.0M$44.0M$51.0M$50.0M$47.0M$44.0M$42.0M$43.0M$34.0M$59.0M
Operating Margin59.4%59.4%57.6%52.5%56.9%54.9%53.4%51.1%49.0%48.7%42.5%55.7%
Interest$28.0M$28.0M$27.0M$27.0M$26.0M$25.0M$22.0M$24.0M$23.0M$23.0M$20.0M$20.0M
Profit Before Tax$45.0M$19.0M$33.0M$22.0M$17.0M$45.0M$19.0M$18.0M$17.0M$22.0M$20.0M$45.0M
Tax$70,000$20,000$-60,000$330,000$100,000$140,000$180,000$90,000$110,000$70,000$120,000$30,000
Net Profit$45.0M$19.0M$33.0M$22.0M$17.0M$45.0M$19.0M$18.0M$17.0M$22.0M$20.0M$45.0M
EPS$0.84$0.36$0.62$0.40$0.32$0.84$0.35$0.33$0.31$0.40$0.36$0.83

Over the 10 years reported for FLEX LNG Ltd., borrowings increased from $7.0M in 2016 to $1.8B in 2025, cash stood at $448.0M in the latest year, shareholders' equity was $1.0M, current assets covered current liabilities 3.03 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$214.0M$685.0M$1.3B$1.6B$2.3B$2.6B$2.7B$2.7B$2.7B$2.6B
Current Assets$2.0M$18.0M$60.0M$144.0M$158.0M$225.0M$354.0M$443.0M$474.0M$503.0M
Cash$1.0M$10.0M$55.0M$129.0M$129.0M$201.0M$332.0M$410.0M$437.0M$448.0M
Inventory$0$1.0M$1.0M$3.0M$4.0M$6.0M$5.0M$5.0M$5.0M$9.0M
Receivables$0$0$4.0M$5.0M$4.0M$5.0M$5.0M$20.0M$1.0M$41.0M
Fixed Assets$212.0M$667.0M$1.2B$1.1B$1.9B$2.3B$2.3B$2.2B$2.2B$2.1B
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$0$0$0$1.0M$0$6.0M$56.0M$49.0M$40.0M$18.0M
Other Assets$0$0$0$0$0$0$0$0$0$0
Total Liabilities$8.0M$164.0M$467.0M$802.0M$1.5B$1.7B$1.8B$1.9B$1.9B$1.9B
Current Liabilities$1.0M$4.0M$35.0M$58.0M$132.0M$132.0M$153.0M$153.0M$159.0M$166.0M
Borrowings$7.0M$160.0M$455.0M$781.0M$1.4B$1.6B$1.7B$1.8B$1.8B$1.8B
Other Liabilities$1.0M$4.0M$12.0M$21.0M$44.0M$45.0M$58.0M$49.0M$52.0M$56.0M
Equity$1.0M$4.0M$5.0M$5.0M$5.0M$5.0M$5.0M$5.0M$1.0M$1.0M
Reserves$206.0M$520.0M$827.0M$839.0M$835.0M$889.0M$907.0M$848.0M$807.0M$719.0M

For FLEX LNG Ltd., operating cash flow was positive in 8 of 10 reported years; free cash flow in the latest year was $135.0M; free cash flow was positive in 4 of 10 years.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$-1.0M$-18.0M$36.0M$52.0M$89.0M$215.0M$209.0M$175.0M$183.0M$135.0M
Investing Cash Flow$-2.0M$-155.0M$-1.2B$-583.0M$-1.4B$-532.0M$0$0$0$0
Financing Cash Flow$0$0$295.0M$-5.0M$-19.0M$-11.0M$13.0M$-9.0M$7.0M$0
Net Cash Flow$-2.0M$9.0M$45.0M$74.0M$0$72.0M$131.0M$78.0M$27.0M$10.0M
Free Cash Flow$-2.0M$-95.0M$-549.0M$-240.0M$-602.0M$-51.0M$209.0M$175.0M$183.0M$135.0M

Valuation & Return Ratios

MetricValue
PEG Ratio5.07
EV / EBITDA11.83
FCF Yield8.97%
Quick Ratio2.64
Interest Coverage2.08
Return 1Y48.84%
Return 3Y46.03%
Return 5Y314.09%

FLEX LNG Ltd. (FLNG) financials — frequently asked questions

What is FLEX LNG Ltd.'s annual revenue?

FLEX LNG Ltd. (FLNG) reported annual revenue of $348.0M in its most recent fiscal year.

What is FLEX LNG Ltd.'s net profit?

FLEX LNG Ltd. (FLNG) reported net profit of $75.0M in its most recent fiscal year.

What is FLNG EV/EBITDA?

FLEX LNG Ltd.'s enterprise value to EBITDA (EV/EBITDA) ratio is 11.83.

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