FLEX LNG Ltd. (FLNG) Balance Sheet
FLNG balance sheet, 2025
December 31, 2025 · U.S. dollars$2.62B assets = $1.90B liabilities + $719.3M equity
Both columns are drawn to the same scale: what FLNG owns equals what it owes plus shareholders’ equity. Hover a block for its value.
FLNG financial health
Descriptive bands, not a rating. Fiscal 2025.
FLNG balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $214.1M2016 | $2.62B2025 | +32.1%/yr | |
| Total liabilities | $8.2M2016 | $1.90B2025 | +83.2%/yr | |
| Shareholders’ equity | $205.9M2016 | $719.3M2025 | +14.9%/yr | |
| Cash & short-term investments | $1.4M2016 | $447.7M2025 | +89.2%/yr | |
| Total debt | $7.0M2016 | $1.85B2025 | +85.8%/yr | |
| Net cash (debt) | −$5.6M2016 | −$1.40B2025 | −$1.4B | |
| Working capital | $468,0002016 | $337.4M2025 | +$337.0M | |
| Book value per share | $16.102016 | $13.302025 | −2.1%/yr | |
| Current ratio | 1.392016 | 3.032025 | +1.64 | |
| Debt / equity | 0.032016 | 2.572025 | +2.54 | |
| Shares outstanding | 12.8M2016 | 54.1M2025 | +17.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FLNG assets
FLNG liabilities and equity
FLNG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
FLNG balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $447.7M | $437.2M | $410.4M | $332.3M | $200.7M | $128.9M | $129.0M | $54.9M | $10.0M | $1.4M |
| Cash & equivalents | $447.7M | $437.2M | $410.4M | $332.3M | $200.7M | $128.9M | $129.0M | $54.9M | $10.0M | $1.4M |
| Receivables | $40.6M | $1.4M | $19.9M | $4.9M | $5.3M | $4.0M | $5.4M | $3.9M | $486,000 | $46,000 |
| Inventory | $9.0M | $4.8M | $5.1M | $5.3M | $6.5M | $3.7M | $2.7M | $915,000 | $1.0M | $0 |
| Other current assets | $5.9M | $31.0M | $7.6M | $11.6M | $12.5M | $21.3M | $6.8M | $683,000 | $6.1M | $174,000 |
| Total current assets | $503.3M | $474.4M | $443.1M | $354.0M | $224.9M | $157.8M | $143.9M | $60.4M | $17.6M | $1.7M |
| Property, plant & equipment (net) | $2.10B | $2.15B | $2.22B | $2.27B | $2.34B | $1.86B | $1.15B | $1.23B | $666.9M | $212.5M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $636,000 | $0 | $0 | $0 |
| Other non-current assets | $18.1M | $40.1M | $48.8M | $55.5M | $5.9M | $289.7M | $349.5M | $0 | $0 | $0 |
| Total assets | $2.62B | $2.67B | $2.71B | $2.68B | $2.57B | $2.30B | $1.64B | $1.29B | $684.5M | $214.1M |
| Liabilities | ||||||||||
| Accounts payable | $10.5M | $2.0M | $3.5M | $1.8M | $2.0M | $3.4M | $582,000 | $592,000 | $76,000 | $46,000 |
| Short-term debt | $109.6M | $106.7M | $103.9M | $95.5M | $86.2M | $87.9M | $36.9M | $23.4M | — | — |
| Deferred revenue | $25.0M | $37.1M | $32.4M | $33.0M | $26.9M | $25.3M | $12.6M | $2.6M | $2.6M | — |
| Total current liabilities | $165.8M | $158.8M | $153.3M | $153.2M | $131.6M | $131.8M | $57.7M | $35.5M | $4.4M | $1.2M |
| Long-term debt | $1.74B | $1.70B | $1.71B | $1.62B | $1.55B | $1.34B | $744.3M | $431.6M | $160.0M | $7.0M |
| Other long-term liabilities | $163,000 | $0 | $0 | $0 | $1 | $0 | $2,000 | $0 | $0 | $0 |
| Total liabilities | $1.90B | $1.86B | $1.86B | $1.77B | $1.68B | $1.47B | $802.0M | $467.1M | $164.4M | $8.2M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $545,000 | $545,000 | $5.5M | $5.5M | $5.4M | $5.4M | $5.4M | $5.4M | $3.7M | $1.3M |
| Retained earnings (deficit) | −$202.7M | −$277.5M | −$354.9M | −$293.7M | −$295.6M | −$358.9M | −$356.2M | −$367.8M | −$379.5M | −$369.1M |
| Accumulated other comprehensive income | $221.3M | $0 | $0 | $0 | $0 | $0 | $0 | −$17.4M | −$5,000 | −$3,000 |
| Total shareholders' equity | $719.3M | $806.6M | $847.7M | $907.1M | $889.4M | $835.2M | $839.3M | $827.3M | $520.1M | $205.9M |
| Key figures | ||||||||||
| Total debt | $1.85B | $1.81B | $1.81B | $1.71B | $1.64B | $1.42B | $781.2M | $455.0M | $160.0M | $7.0M |
| Net cash (debt) | −$1.40B | −$1.37B | −$1.40B | −$1.38B | −$1.44B | −$1.30B | −$652.2M | −$400.0M | −$150.0M | −$5.6M |
| Working capital | $337.4M | $315.6M | $289.8M | $200.8M | $93.3M | $26.0M | $86.2M | $25.0M | $13.2M | $468,000 |
| Tangible book value | $719.3M | $806.6M | $847.7M | $907.1M | $889.4M | $835.2M | $839.3M | $827.3M | $520.1M | $205.9M |
| Book value per share | $13.30 | $14.93 | $15.70 | $16.95 | $16.67 | $15.39 | $15.47 | $20.38 | $16.91 | $16.10 |
| Shares outstanding | 54.1M | 54.0M | 54.0M | 53.5M | 53.3M | 54.3M | 54.2M | 40.6M | 30.8M | 12.8M |
| Current ratio | 3.03 | 2.99 | 2.89 | 2.31 | 1.71 | 1.20 | 2.49 | 1.70 | 3.99 | 1.39 |
| Quick ratio | 2.94 | 2.76 | 2.81 | 2.20 | 1.56 | 1.01 | 2.33 | 1.66 | 2.37 | 1.25 |
| Debt / equity | 2.57 | 2.24 | 2.14 | 1.89 | 1.84 | 1.71 | 0.93 | 0.55 | 0.31 | 0.03 |
| Equity / assets | 27.4% | 30.2% | 31.3% | 33.9% | 34.6% | 36.2% | 51.1% | 63.9% | 76.0% | 96.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $397.4M | $389.1M | $447.7M | $478.7M | $412.7M | $409.6M | $437.2M | $289.5M | $370.2M | $383.3M | $410.4M | $429.4M |
| Cash & equivalents | $397.4M | $389.1M | $447.7M | $478.7M | $412.7M | $409.6M | $437.2M | $289.5M | $370.2M | $383.3M | $410.4M | $429.4M |
| Receivables | $489,999 | $652,999 | $40.6M | $158,000 | $43.3M | $4.0M | $1.4M | $6.5M | $6.2M | $30.7M | $19.9M | $5.4M |
| Inventory | $7.5M | $6.3M | $9.0M | $7.8M | $4.8M | $5.0M | $4.8M | $5.0M | $5.0M | $5.4M | $5.1M | $5.2M |
| Other current assets | $50.1M | $73.5M | $5.9M | $53.6M | $9.2M | $41.6M | $31.0M | $31.5M | $33.9M | $10.5M | $7.6M | $24.0M |
| Total current assets | $455.4M | $469.5M | $503.3M | $540.3M | $470.0M | $460.3M | $474.4M | $332.5M | $415.2M | $429.9M | $443.1M | $464.0M |
| Property, plant & equipment (net) | $2.08B | $2.09B | $2.10B | $2.12B | $2.13B | $2.14B | $2.15B | $2.17B | $2.19B | $2.20B | $2.22B | $2.24B |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $29.8M | $23.0M | $18.1M | $19.6M | $27.2M | $29.1M | $40.1M | $25.5M | $36.3M | $44.8M | $48.8M | $69.2M |
| Total assets | $2.56B | $2.58B | $2.62B | $2.68B | $2.63B | $2.63B | $2.67B | $2.53B | $2.64B | $2.68B | $2.71B | $2.77B |
| Liabilities | ||||||||||||
| Accounts payable | $6.1M | $7.5M | $10.5M | $9.2M | $2.5M | $3.7M | $2.0M | $2.4M | $2.8M | $2.3M | $3.5M | $3.5M |
| Short-term debt | $110.8M | $60.2M | $109.6M | $108.6M | $58.3M | $106.9M | $106.7M | $95.7M | $104.5M | $50.7M | $103.9M | $105.3M |
| Deferred revenue | — | — | $25.0M | — | $30.6M | $32.4M | $37.1M | $37.0M | $34.1M | $27.0M | $32.4M | $31.6M |
| Total current liabilities | $169.6M | $172.4M | $165.8M | $174.3M | $165.8M | $166.1M | $158.8M | $150.1M | $161.6M | $153.6M | $153.3M | $159.8M |
| Long-term debt | $1.68B | $733.4M | $1.74B | $758.5M | $721.8M | $733.6M | $1.70B | $755.9M | $821.6M | $834.9M | $1.71B | $1.73B |
| Lease obligations | $1.02B | $1.04B | — | $1.07B | $1.03B | $1.00B | — | $872.9M | $885.7M | $898.3M | — | — |
| Other long-term liabilities | $7.5M | $980.4M | $163,000 | $1.01B | $978.0M | $943.3M | $0 | $821.8M | $834.7M | $847.6M | $0 | $0 |
| Total liabilities | $1.86B | $1.89B | $1.90B | $1.94B | $1.87B | $1.84B | $1.86B | $1.73B | $1.82B | $1.84B | $1.86B | $1.89B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $544,999 | $544,999 | $545,000 | $545,000 | $545,000 | $545,000 | $545,000 | $545,000 | $545,000 | $5.5M | $5.5M | $5.5M |
| Retained earnings (deficit) | −$138.3M | −$183.2M | −$202.7M | −$224.2M | −$241.0M | −$258.8M | −$277.5M | −$322.7M | −$340.1M | −$362.0M | −$354.9M | −$327.2M |
| Accumulated other comprehensive income | — | — | $221.3M | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total shareholders' equity | $702.5M | $698.2M | $719.3M | $738.3M | $762.0M | $784.8M | $806.6M | $801.9M | $823.6M | $840.9M | $847.7M | $874.9M |
| Key figures | ||||||||||||
| Total debt | $1.79B | $1.77B | $1.85B | $1.87B | $1.75B | $1.78B | $1.81B | $1.67B | $1.76B | $1.73B | $1.81B | $1.84B |
| Net cash (debt) | −$1.40B | −$1.38B | −$1.40B | −$1.40B | −$1.34B | −$1.37B | −$1.37B | −$1.38B | −$1.39B | −$1.35B | −$1.40B | −$1.41B |
| Working capital | $285.9M | $297.1M | $337.4M | $366.0M | $304.2M | $294.2M | $315.6M | $182.4M | $253.7M | $276.3M | $289.8M | $304.2M |
| Tangible book value | $702.5M | $698.2M | $719.3M | $738.3M | $762.0M | $784.8M | $806.6M | $801.9M | $823.6M | $840.9M | $847.7M | $874.9M |
| Book value per share | $12.99 | $12.91 | $13.30 | $13.65 | $14.09 | $14.51 | $14.93 | $14.84 | $15.24 | $15.58 | $15.70 | $16.21 |
| Shares outstanding | 54.1M | 54.1M | 54.1M | 54.1M | 54.1M | 54.1M | 54.0M | 54.0M | 54.0M | 54.0M | 54.0M | 54.0M |
| Current ratio | 2.69 | 2.72 | 3.03 | 3.10 | 2.84 | 2.77 | 2.99 | 2.21 | 2.57 | 2.80 | 2.89 | 2.90 |
| Quick ratio | 2.35 | 2.26 | 2.94 | 2.75 | 2.75 | 2.49 | 2.76 | 1.97 | 2.33 | 2.70 | 2.81 | 2.72 |
| Debt / equity | 2.55 | 2.54 | 2.57 | 2.54 | 2.30 | 2.27 | 2.24 | 2.09 | 2.14 | 2.06 | 2.14 | 2.10 |
| Equity / assets | 27.4% | 27.0% | 27.4% | 27.6% | 29.0% | 29.9% | 30.2% | 31.7% | 31.2% | 31.4% | 31.3% | 31.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 27, 2026); data from EODHD.
FLNG financial position
At the end of fiscal 2025 (December 31, 2025), FLEX LNG had total assets of $2.6 billion (down 1.7% from a year earlier), total liabilities of $1.9 billion and shareholders' equity of $719.3 million. It held $447.7 million in cash and short-term investments against $1.8 billion of debt, net debt of $1.4 billion. Its current ratio was 3.03. In the latest quarter (ended June 30, 2026) total assets were $2.6 billion and equity $702.5 million.
Related: FLNG income statement, FLNG cash flow statement, FLNG key metrics. See the FLNG stock overview for the latest quote and news.
FLNG balance sheet FAQ
What are FLEX LNG's total assets?
FLEX LNG reported total assets of $2.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.7 billion a year earlier.
How much debt does FLEX LNG have?
FLEX LNG had $1.8 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 2.57.
How much cash does FLEX LNG have?
FLEX LNG held $447.7 million in cash and short-term investments at the end of fiscal 2025; with $1.8 billion of debt that is net debt of $1.4 billion.
What is FLEX LNG's book value?
FLEX LNG's shareholders' equity (book value) was $719.3 million at the end of fiscal 2025, or $13.30 per share.
What is FLEX LNG's current ratio?
FLEX LNG had current assets of $503.3 million and current liabilities of $165.8 million, a current ratio of 3.03 (it can cover its short-term obligations).