FLEX LNG Ltd. (FLNG) Key Metrics
FLNG valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.53B
- Enterprise value
- $3.07B
- P/E (TTM)
- 15.2 10-yr median 13.1
- Forward P/E
- 12.4
- PEG ratio
- —
- Price / sales
- 4.2 10-yr median 3.9
- Price / book
- 2.4 10-yr median 1.5
- EV / EBITDA
- 11.5 10-yr median 9.8
- Dividend yield
- 10.63% $3.00 a year
- Beta
- 0.24
FLNG key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsFLNG valuation Price multiples at each fiscal year-end price.
FLNG returns How much profit the business earns on the capital it uses.
FLNG per-share figures Results divided by the shares outstanding at year-end.
FLNG financial health Debt, liquidity and how easily interest is covered.
FLNG efficiency & capital use Working capital cycle and where the cash goes.
FLNG valuation history
FLNG returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
FLNG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
FLNG cash returned to shareholders
FLNG price vs earnings per share
FLNG key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.35B | $1.24B | $1.57B | $1.75B | $1.25B | $474.9M | $591.2M | — | — | — |
| Enterprise value | $2.75B | $2.61B | $2.97B | $3.13B | $2.69B | $1.77B | $1.24B | — | — | — |
| P/E ratio | 18.0 | 10.5 | 13.1 | 9.3 | 7.7 | 58.6 | 34.8 | — | — | — |
| Price / sales | 3.9 | 3.5 | 4.2 | 5.0 | 3.6 | 2.9 | 4.9 | — | — | — |
| Price / book | 1.9 | 1.5 | 1.9 | 1.9 | 1.4 | 0.6 | 0.7 | — | — | — |
| Price / free cash flow | 10.0 | 6.8 | 9.0 | 8.0 | — | — | — | — | — | — |
| Price / operating cash flow | 10.0 | 6.8 | 9.0 | 8.0 | 5.8 | 5.3 | 11.5 | — | — | — |
| EV / sales | 7.9 | 7.3 | 8.0 | 9.0 | 7.8 | 10.8 | 10.4 | — | — | — |
| EV / EBITDA | 11.3 | 8.7 | 9.8 | 9.3 | 9.3 | 19.3 | 15.6 | — | — | — |
| EV / free cash flow | 20.4 | 14.3 | 17.0 | 14.2 | — | — | — | — | — | — |
| Earnings yield | 5.5% | 9.5% | 7.7% | 10.7% | 12.9% | 1.7% | 2.9% | — | — | — |
| Free cash flow yield | 10.0% | 14.7% | 11.2% | 12.6% | −4.1% | −126.8% | −40.6% | — | — | — |
| Dividend yield | 12.0% | 13.0% | 11.6% | 10.6% | 7.9% | 2.3% | 0.9% | — | — | — |
| Shareholder yield (dividends + buybacks) | 12.0% | 13.0% | 11.6% | 10.6% | 8.5% | 2.6% | 0.9% | — | — | — |
| Share price at fiscal year-end | $24.95 | $22.94 | $29.06 | $32.69 | $23.49 | $8.75 | $10.90 | — | — | — |
| Per share | ||||||||||
| Revenue per share | $6.43 | $6.60 | $6.87 | $6.50 | $6.44 | $3.03 | $2.21 | $1.90 | $0.89 | $0.00 |
| Earnings per share | $1.38 | $2.18 | $2.22 | $3.51 | $3.04 | $0.15 | $0.31 | $0.29 | −$0.34 | −$0.14 |
| Operating cash flow per share | $2.49 | $3.38 | $3.24 | $4.11 | $4.03 | $1.65 | $0.95 | $0.88 | −$0.58 | −$0.08 |
| Free cash flow per share | $2.49 | $3.38 | $3.24 | $4.11 | −$0.96 | −$11.09 | −$4.42 | −$13.52 | −$3.10 | −$0.18 |
| Cash per share | $8.28 | $8.09 | $7.60 | $6.21 | $3.76 | $2.37 | $2.38 | $1.35 | $0.32 | $0.11 |
| Book value per share | $13.30 | $14.93 | $15.70 | $16.95 | $16.67 | $15.39 | $15.47 | $20.38 | $16.91 | $16.10 |
| Tangible book value per share | $13.30 | $14.93 | $15.70 | $16.95 | $16.67 | $15.39 | $15.47 | $20.38 | $16.91 | $16.10 |
| Dividends per share | $3.00 | $2.99 | $3.36 | $3.48 | $1.85 | $0.20 | $0.10 | $0.13 | $0.18 | $0.42 |
| Capex per share | $0.00 | $0.00 | $0.00 | $0.00 | $4.99 | $12.74 | $5.37 | $14.40 | $2.53 | $0.09 |
| Debt per share | $34.17 | $33.50 | $33.57 | $32.04 | $30.71 | $26.25 | $14.40 | $11.21 | $5.20 | $0.55 |
| Shares outstanding | 54.1M | 54.0M | 54.0M | 53.5M | 53.3M | 54.3M | 54.2M | 40.6M | 30.8M | 12.8M |
| Change in shares outstanding | +0.1% | +0.1% | +0.9% | +0.3% | −1.7% | +0.0% | +33.6% | +31.9% | +140.5% | +0.1% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 9.8% | 14.2% | 13.7% | 20.9% | 18.8% | 1.0% | 2.0% | 1.7% | −2.9% | −0.9% |
| Return on invested capital (ROIC) | 8.2% | 8.9% | 9.6% | 8.7% | 9.0% | 4.1% | 4.0% | 3.1% | −2.3% | −0.6% |
| Return on assets (ROA) | 2.8% | 4.4% | 4.5% | 7.2% | 6.7% | 0.4% | 1.2% | 1.2% | −2.3% | −0.8% |
| Return on tangible assets | 2.9% | 4.4% | 4.4% | 7.0% | 6.3% | 0.4% | 1.0% | 0.9% | −1.5% | −0.8% |
| Free cash flow margin | 38.8% | 51.3% | 47.2% | 63.2% | −14.9% | −366.1% | −200.1% | −710.7% | −349.2% | — |
| Income quality (OCF / net income) | 1.80 | 1.55 | 1.46 | 1.17 | 1.32 | 11.02 | 3.04 | 3.03 | — | — |
| Financial health | ||||||||||
| Total debt | $1.85B | $1.81B | $1.81B | $1.71B | $1.64B | $1.42B | $781.2M | $455.0M | $160.0M | $7.0M |
| Cash & short-term investments | $447.7M | $437.2M | $410.4M | $332.3M | $200.7M | $128.9M | $129.0M | $54.9M | $10.0M | $1.4M |
| Net debt | $1.40B | $1.37B | $1.40B | $1.38B | $1.44B | $1.30B | $652.2M | $400.0M | $150.0M | $5.6M |
| Debt / equity | 2.57 | 2.24 | 2.14 | 1.89 | 1.84 | 1.71 | 0.93 | 0.55 | 0.31 | 0.03 |
| Debt / assets | 0.70 | 0.68 | 0.67 | 0.64 | 0.64 | 0.62 | 0.48 | 0.35 | 0.23 | 0.03 |
| Net debt / EBITDA | 5.74 | 4.59 | 4.64 | 4.10 | 4.99 | 14.11 | 8.18 | 8.62 | — | — |
| Current ratio | 3.03 | 2.99 | 2.89 | 2.31 | 1.71 | 1.20 | 2.49 | 1.70 | 3.99 | 1.39 |
| Quick ratio | 2.98 | 2.96 | 2.86 | 2.28 | 1.66 | 1.17 | 2.45 | 1.68 | 3.75 | 1.39 |
| Interest coverage | 1.9 | 1.9 | 2.0 | 2.6 | 3.6 | 1.8 | 1.6 | 1.6 | -53.9 | -4.7 |
| Working capital | $337.4M | $315.6M | $289.8M | $200.8M | $93.3M | $26.0M | $86.2M | $25.0M | $13.2M | $468,000 |
| Invested capital | $2.12B | $2.18B | $2.25B | $2.29B | $2.33B | $2.13B | $1.49B | $1.23B | $670.1M | $211.5M |
| Tangible asset value | $719.3M | $806.6M | $847.7M | $907.1M | $889.4M | $835.2M | $839.3M | $827.3M | $520.1M | $205.9M |
| Net current asset value | −$1.40B | −$1.39B | −$1.42B | −$1.42B | −$1.46B | −$1.31B | −$658.1M | −$406.6M | −$146.8M | −$6.5M |
| Graham number | $20.34 | $27.05 | $28.03 | $36.60 | $33.78 | $7.19 | $10.43 | $11.54 | — | — |
| Graham net-net per share | −$26.29 | −$26.31 | −$26.56 | −$26.79 | −$27.67 | −$24.60 | −$12.31 | −$10.07 | −$4.99 | −$0.53 |
| Capital allocation | ||||||||||
| Dividends paid | $162.3M | $161.7M | $181.2M | $186.1M | $98.9M | $10.8M | $5.4M | $5.4M | $5.4M | $5.4M |
| Share buybacks (net) | — | — | $0 | $0 | $7.8M | $1.7M | — | $0 | $0 | — |
| Dividend payout ratio | 216.9% | 137.4% | 151.0% | 99.0% | 61.0% | 133.5% | 31.9% | 45.9% | — | — |
| Dividends + buybacks / free cash flow | 120.3% | 88.4% | 103.5% | 84.6% | — | — | — | — | — | — |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 77.4% | 420.4% | 243.0% | 756.9% | 284.4% | — |
| Capex / operating cash flow | 0.0% | 0.0% | 0.0% | 0.0% | 123.8% | 774.2% | 565.8% | 1,636.4% | — | — |
| Capex / depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 3.81 | 16.52 | 10.14 | 33.56 | 38,857.00 | 602.00 |
| Stock-based compensation / revenue | 0.0% | 0.3% | 0.5% | 0.1% | −0.4% | 0.2% | 0.3% | 0.3% | 0.4% | — |
| SG&A / revenue | 2.3% | 2.7% | 2.8% | 2.6% | 2.3% | 3.8% | 6.3% | 6.0% | 12.5% | — |
| Efficiency | ||||||||||
| Days sales outstanding | 22.1 | 10.9 | 12.2 | 5.3 | 5.0 | 10.5 | 14.2 | 10.4 | 3.6 | — |
| Days of inventory on hand | 15.4 | 12.2 | 13.2 | 15.5 | 13.7 | 14.0 | 11.4 | 8.2 | 10.4 | — |
| Days payables outstanding | 13.9 | 6.8 | 6.7 | 5.0 | 7.3 | 8.7 | 3.7 | 2.8 | 0.6 | 5,566.2 |
| Cash conversion cycle (days) | 23.5 | 16.3 | 18.6 | 15.8 | 11.4 | 15.8 | 21.9 | 15.8 | 13.3 | — |
| Receivables turnover | 16.53 | 33.41 | 29.94 | 68.70 | 73.70 | 34.72 | 25.74 | 35.25 | 102.74 | 0.00 |
| Payables turnover | 26.20 | 54.00 | 54.09 | 72.52 | 49.88 | 41.74 | 97.88 | 130.46 | 598.92 | 0.07 |
| Inventory turnover | 23.70 | 30.01 | 27.71 | 23.59 | 26.59 | 26.03 | 31.91 | 44.55 | 35.10 | — |
| Asset turnover | 0.13 | 0.13 | 0.14 | 0.13 | 0.14 | 0.08 | 0.08 | 0.08 | 0.06 | 0.00 |
| Average receivables | $21.0M | $10.7M | $12.4M | $5.1M | $4.7M | $4.7M | $4.7M | $2.2M | $266,000 | $148,000 |
| Average payables | $6.3M | $2.8M | $2.7M | $1.9M | $2.7M | $2.0M | $587,000 | $334,000 | $61,000 | $30,500 |
| Average inventory | $6.9M | $5.0M | $5.2M | $5.9M | $5.1M | $3.2M | $1.8M | $978,000 | $1.0M | — |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from FLNG's annual financial statements (latest annual report filed February 27, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
FLNG valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), FLEX LNG traded at 18.0 times earnings, against a 10-year median of 13.1. Based on the latest twelve months, the trailing P/E is 15.2 and the forward P/E is 12.4. FLEX LNG earned a return on equity of 9.8% and a return on invested capital of 8.2% in fiscal 2025. It ended the year with $1.8 billion of debt and $447.7 million in cash and short-term investments, net debt of $1.4 billion. It returned $162.3 million to shareholders: $162.3 million in dividends and $0 in share buybacks, 120% of free cash flow. The share count rose 322.8% from 12.8M to 54.1M over 9 years.
See the FLNG income statement, the FLNG chart for price history, or the FLNG stock overview for the latest quote and news.
FLNG key metrics FAQ
What is FLEX LNG's P/E ratio?
FLEX LNG's trailing P/E ratio is 15.2 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 12.4. At the end of fiscal 2025 it was 18.0, compared with a 10-year median of 13.1.
What is FLEX LNG's EV/EBITDA?
FLEX LNG's enterprise value was 11.3 times EBITDA at the end of fiscal 2025 (enterprise value $2.8 billion, EBITDA $244.1 million); the current EV/EBITDA is 11.5.
What is FLEX LNG's return on equity?
FLEX LNG's return on equity (ROE) was 9.8% in fiscal 2025: net income of $74.8 million on average shareholders' equity of $762.9 million.
What is FLEX LNG's ROIC?
FLEX LNG's return on invested capital was 8.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does FLEX LNG have?
FLEX LNG had total debt of $1.8 billion at the end of fiscal 2025, a debt-to-equity ratio of 2.57 and $1.4 billion of net debt (5.74 times EBITDA).
What is FLEX LNG's dividend yield?
FLEX LNG's forward dividend yield is 10.63%. FLEX LNG paid $162.3 million in dividends in fiscal 2025 ($3.00 per share), a payout ratio of 216.9%.
What is FLEX LNG's free cash flow yield?
FLEX LNG generated $134.9 million of free cash flow in fiscal 2025, a free cash flow yield of 10.0% on its market value at year-end ($1.3 billion).
What is FLEX LNG's current ratio?
FLEX LNG's current ratio was 3.03 at the end of fiscal 2025: current assets were 3.03 times current liabilities.