Reading the tape
NYSE: FLNG
FLEX LNG Ltd.
Energy · Oil & Gas Midstream
Market Cap
$1.68B
52w High
$31.99
52w Low
$21.72
P/E
22.38
Volume
336.55K
Outstanding Shares
54.09M
Price vs Fundamentals
Why The Stock Is Moving
Momentum disconnected from fundamentalsModerate confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: 30.39%Revenue (TTM): -2.44%FCF (TTM): -27.05%P/FCF: 94th pct
What changed
The stock rose 30.39% over the last year. Revenue declined 2.44% over the trailing twelve months. Operating margin moved from 55.51% to 50.57%. Free cash flow declined 27.05% over the trailing twelve months.
What the market seems to be pricing
The stock is rising despite deteriorating fundamentals and now sits at the 94th percentile of its historical P/FCF range. This is a momentum-driven move — the market may be front-running a recovery that has not yet appeared in reported numbers.
What would invalidate this read
Operating margin (currently 50.57%) would need to stabilize or improve to justify the move. Revenue is declining 2.44% — a trend reversal in the next report would be the key signal to watch. This read is wrong if the next period shows operating metrics turning the corner. At that point the price would be anticipating real improvement rather than running ahead of it.
Company profile
Flex LNG Ltd., through its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide.
CEOKnut Traaholt
SectorEnergy
IndustryOil & Gas Midstream
Employees9
IPO dateJun 17, 2019
Valuation
Forward P/E—
EV/EBITDA11.26
Enterprise value$2.75B
Stock splits
Mar 11, 2019↓ Reverse
Every 10 shares became 1
Mar 20, 2017↑ Forward
Every 1000 shares became 1101
Profitability & growth
Revenue growth-3.74%
Gross margin52.86%▼9.25%vs FY2024
Operating margin50.57%▼8.89%vs FY2024
ROE10.4%▼28.70%vs FY2024
Analyst consensus
RatingHold
Target price$24.00▼22.53%
0
Buy
2
Hold
0
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 29, 2026
Q2 FY26 · EPS est $0.35 · Revenue est $79.38M
View
Dividends
$3.00/shareQuarterlyStretchedFLNG pays a dividend with a 9.68% dividend yield, growing at 38.02% annually, covered 0.8× by free cash flow.
Dividend Yield
9.68%
Annual Div / Share
$3.00
5yr CAGR
+38.02%
Doubles every ~2.2yr
Payout Ratio
214.6%
Stretched
Dividend Growth Rate
3yr CAGR
-7.17%
5yr CAGR
+38.02%
Dividend Safety
2/10Stretched
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2025$3.00+0.0%
2024$3.00-4.0%
2023$3.13-16.7%
2022$3.75+63.0%
2021$2.30+284.0%
2020$0.60—
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$97/yr
$8/mo
In 5 yrs
$171/yr+76%
$14/mo
In 10 yrs
$301/yr+211%
$25/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$97/yr $8/mo | $171/yr+76% $14/mo | $301/yr+211% $25/mo |
Long-range projections use a capped 12% annual growth assumption.
Yield-on-cost grows from 9.68% → 30.08% over 10yr
Analysis
Dividend Strengths
Strong dividend growth rate
The 5-year CAGR of 38.02% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
High payout ratio
With 214.6% of earnings paid as dividends, there is limited retained earnings for reinvestment — and a dividend cut becomes more likely if earnings decline.
Dividend exceeds free cash flow
Free cash flow covers only 0.83× the dividend. The company is paying out more than it generates in cash, which is unsustainable without borrowing or asset sales.