FLEX LNG Ltd.

flexlng.com

What Do They Do?

Provides marine transportation of liquefied natural gas using specialized carriers for LNG producers, energy companies and traders, and industrial users.

How Do They Make Money?

Customers charter its vessels for set periods; fixed charter income is earned evenly over the contract term, while market-indexed hire varies with the index.

FY2025 revenue

Who Are Their Customers?

Customers charter vessels directly from FLEX LNG under period time-charter contracts, typically for several years.

Customers above 10% of revenue, FY2025

of revenue from four customers (40%, 21%, 25%, 13%)

FY2024: 93% from four customers

Do Revenues Turn Into Profits?

Yes. It kept 22 cents of every revenue dollar as net income in FY2025.

Operating income, FY2025

51% of revenue

▼ −11% vs FY2024 ($197.8M, 56%)

Net income, FY2025

22% of revenue

▼ −36% vs FY2024 ($117.7M, 33%)

How Are They Changing?

Flat. Revenue was $347.6M in FY2025, about the same as the $343.4M of FY2021.

Financial Snapshot

Last updated: 10/28/2026

Size Last 4 quarters

Revenue
Net Income

Growth FY2025

Revenue Growth
EPS Growth

Profitability Last 4 quarters

Gross Margin
Operating Margin
Net Income Margin

Cash flow Last 4 quarters

Free Cash Flow

Balance sheet 2026 Q1

Cash: $389.1M
Debt to Equity

Valuation

Market Cap Today: $1.51B
P/E Last 4 quarters: 19.99

Company Facts

Industry: Water Transportation
Incorporated
Headquarters

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