Overview of Financial Statements
Financial statements are records that provide an overview of a company's financial performance and position. There are three main types of financial statements:
- Income Statement: Shows the company's revenue, expenses, and profit over a specific period.
- Balance Sheet: Provides a snapshot of the company's assets, liabilities, and equity at a specific point in time.
- Cash Flow Statement: Details the cash inflows and outflows from operating, investing, and financing activities over a period.
This page presents both annual and quarterly data for these financial statements. The charts below provide a visual representation of the key metrics from each statement, helping you to quickly understand the financial health of FLEX LNG.
Income Statement
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $356.35M | $371.02M | $347.92M | $343.45M | $164.46M | $119.97M | $77.21M | $27.33M | $- | $- |
| Cost of Revenue | $148.77M | $143.40M | $138.16M | $134.40M | $82.54M | $57.45M | $43.57M | $37.57M | $743.00K | $815.00K |
| Gross Profit | $207.58M | $227.62M | $209.76M | $209.04M | $81.92M | $62.51M | $33.64M | $-10.24M | $-743.00K | $-815.00K |
| Gross Profit Ratio | 58.25% | 61.35% | 60.29% | 60.87% | 49.81% | 52.11% | 43.56% | -37.49% | - | - |
| Research and Development Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| General and Administrative Expenses | $9.79M | $10.47M | $9.15M | $7.89M | $6.30M | $7.51M | $4.64M | $2.37M | $725.00K | $1.41M |
| Selling and Marketing Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Selling General and Administrative Expenses | $9.79M | $10.47M | $9.15M | $7.89M | $6.30M | $7.51M | $4.64M | $2.37M | $725.00K | $1.41M |
| Other Expenses | $- | $- | $- | $-1.21M | $- | $-3.39M | $- | $- | $2.00K | $3.00K |
| Operating Expenses | $9.79M | $10.47M | $9.15M | $7.89M | $6.30M | $7.51M | $4.64M | $2.37M | $727.00K | $1.41M |
| Cost and Expenses | $158.56M | $153.87M | $147.30M | $142.29M | $88.84M | $64.96M | $48.21M | $39.94M | $1.47M | $2.23M |
| Interest Income | $4.47M | $4.87M | $2.00M | $41.00K | $327.00K | $1.07M | $607.00K | $123.00K | $9.00K | $20.00K |
| Interest Expense | $105.59M | $108.72M | $76.60M | $56.22M | $41.80M | $33.88M | $17.64M | $234.00K | $314.00K | $267.00K |
| Depreciation and Amortization | $75.48M | $73.36M | $72.22M | $69.83M | $41.85M | $28.75M | $17.41M | $2.00K | $2.00K | $3.00K |
| EBITDA | $298.89M | $302.20M | $336.96M | $270.99M | $117.47M | $83.75M | $46.41M | $-10.15M | $-1.47M | $-2.21M |
| EBITDA Ratio | 83.87% | 81.45% | 96.85% | 78.90% | 71.42% | 69.81% | 60.11% | -37.16% | - | - |
| Operating Income | $197.79M | $217.16M | $200.62M | $201.16M | $75.62M | $55.01M | $29.00M | $-12.61M | $-1.49M | $-2.23M |
| Operating Income Ratio | 55.51% | 58.53% | 57.66% | 58.57% | 45.98% | 45.85% | 37.56% | -46.16% | - | - |
| Total Other Income Expenses Net | $-79.98M | $-97.04M | $-12.47M | $-38.85M | $-67.43M | $-37.86M | $-17.23M | $2.22M | $-305.00K | $-247.00K |
| Income Before Tax | $117.82M | $120.12M | $188.14M | $162.30M | $8.19M | $17.15M | $11.77M | $-10.39M | $-1.79M | $-2.48M |
| Income Before Tax Ratio | 33.06% | 32.37% | 54.08% | 47.26% | 4.98% | 14.29% | 15.24% | -38.02% | - | - |
| Income Tax Expense | $132.00K | $78.00K | $98.00K | $99.00K | $84.00K | $182.00K | $-10.00K | $17.00K | $-1.00K | $7.00K |
| Net Income | $117.68M | $120.04M | $188.04M | $162.21M | $8.11M | $16.97M | $11.78M | $-10.41M | $-1.79M | $-2.48M |
| Net Income Ratio | 33.02% | 32.35% | 54.05% | 47.23% | 4.93% | 14.14% | 15.26% | -38.08% | - | - |
| EPS | $2.19 | $2.24 | $3.53 | $3.04 | $0.15 | $0.31 | $0.29 | $-0.34 | $-0.14 | $-0.20 |
| EPS Diluted | $2.18 | $2.22 | $3.51 | $3.04 | $0.15 | $0.31 | $0.29 | $-0.34 | $-0.14 | $-0.19 |
| Weighted Average Shares Outstanding | 53.85M | 53.70M | 53.20M | 53.32M | 54.10M | 54.11M | 40.45M | 30.61M | 12.79M | 12.43M |
| Weighted Average Shares Outstanding Diluted | 54.03M | 53.99M | 53.52M | 53.34M | 54.27M | 54.25M | 40.59M | 30.76M | 12.79M | 12.78M |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Balance Sheet
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $437.15M | $410.43M | $332.33M | $200.65M | $128.88M | $129.00M | $54.93M | $9.96M | $1.44M | $3.72M |
| Short Term Investments | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Cash and Short Term Investments | $437.15M | $410.43M | $332.33M | $200.65M | $128.88M | $129.00M | $54.93M | $9.96M | $1.44M | $3.72M |
| Net Receivables | $25.61M | $19.93M | $4.86M | $14.78M | $13.88M | $9.32M | $- | $486.00K | $46.00K | $250.00K |
| Inventory | $4.82M | $5.09M | $5.26M | $6.45M | $3.66M | $2.69M | $915.00K | $1.04M | $- | $- |
| Other Current Assets | $6.79M | $7.62M | $11.60M | $3.00M | $11.34M | $2.88M | $4.58M | $6.57M | $174.00K | $2.00K |
| Total Current Assets | $474.38M | $443.06M | $354.05M | $224.89M | $157.84M | $143.89M | $60.42M | $17.57M | $1.66M | $3.97M |
| Property Plant Equipment Net | $2.15B | $2.22B | $2.27B | $2.34B | $2.15B | $1.50B | $1.23B | $666.94M | $212.47M | $211.27M |
| Goodwill | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Intangible Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Goodwill and Intangible Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Long Term Investments | $- | $48.83M | $55.52M | $5.86M | $109.00K | $636.00K | $- | $- | $- | $- |
| Tax Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Non-Current Assets | $40.09M | $- | $-2.33B | $-2.35B | $- | $- | $- | $- | $- | $- |
| Total Non-Current Assets | $2.19B | $2.27B | $2.33B | $2.35B | $2.15B | $1.50B | $1.23B | $666.94M | $212.47M | $211.27M |
| Other Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $-0 |
| Total Assets | $2.67B | $2.71B | $2.68B | $2.57B | $2.30B | $1.64B | $1.29B | $684.51M | $214.13M | $215.25M |
| Account Payables | $2.00M | $3.51M | $1.79M | $2.02M | $3.37M | $582.00K | $592.00K | $76.00K | $46.00K | $15.00K |
| Short Term Debt | $106.71M | $103.87M | $95.51M | $81.47M | $64.47M | $34.57M | $23.36M | $- | $- | $- |
| Tax Payables | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Deferred Revenue | $37.12M | $32.44M | $32.96M | $26.87M | $25.34M | $12.57M | $2.56M | $2.60M | $- | $- |
| Other Current Liabilities | $12.94M | $13.45M | $22.93M | $21.23M | $38.65M | $10.01M | $8.94M | $1.73M | $1.15M | $598.00K |
| Total Current Liabilities | $158.78M | $153.27M | $153.20M | $131.59M | $131.83M | $57.73M | $35.46M | $4.41M | $1.19M | $613.00K |
| Long Term Debt | $1.70B | $1.71B | $2.22B | $2.26B | $1.92B | $1.19B | $587.13M | $160.00M | $7.00M | $7.00M |
| Deferred Revenue Non-Current | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Deferred Tax Liabilities Non-Current | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Non-Current Liabilities | $- | $- | $-597.80M | $-710.45M | $-579.82M | $-441.92M | $-155.53M | $- | $- | $- |
| Total Non-Current Liabilities | $1.70B | $1.71B | $1.62B | $1.55B | $1.34B | $744.28M | $431.60M | $160.00M | $7.00M | $7.00M |
| Other Liabilities | $- | $- | $- | $- | $- | $- | $- | $- | $- | $0 |
| Total Liabilities | $1.86B | $1.86B | $1.77B | $1.68B | $1.47B | $802.02M | $467.06M | $164.41M | $8.19M | $7.61M |
| Preferred Stock | $- | $- | $- | $- | $- | $- | $- | $379.53M | $369.12M | $367.33M |
| Common Stock | $545.00K | $5.45M | $5.45M | $5.41M | $5.41M | $5.41M | $5.41M | $3.68M | $1.28M | $1.28M |
| Retained Earnings | $-277.49M | $-354.87M | $-293.69M | $-295.63M | $-358.91M | $-356.19M | $-367.75M | $-379.53M | $-369.12M | $-367.33M |
| Accumulated Other Comprehensive Income Loss | $- | $- | $0 | $0 | $-0 | $0 | $-17.41M | $-5.00K | $-3.00K | $-4.00K |
| Other Total Stockholders Equity | $1.08B | $1.20B | $1.20B | $1.18B | $1.19B | $1.19B | $1.19B | $895.95M | $563.17M | $563.08M |
| Total Stockholders Equity | $806.63M | $847.65M | $907.09M | $889.39M | $835.17M | $839.26M | $827.32M | $520.10M | $205.94M | $207.63M |
| Total Equity | $806.63M | $847.65M | $907.09M | $889.39M | $835.17M | $839.26M | $827.32M | $520.10M | $205.94M | $207.63M |
| Total Liabilities and Stockholders Equity | $2.67B | $2.71B | $2.68B | $2.57B | $2.30B | $1.64B | $1.29B | $684.51M | $214.13M | $215.25M |
| Minority Interest | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities and Total Equity | $2.67B | $2.71B | $2.68B | $2.57B | $2.30B | $1.64B | $1.29B | $684.51M | $214.13M | $215.25M |
| Total Investments | $- | $48.83M | $55.52M | $5.86M | $109.00K | $636.00K | $- | $- | $- | $- |
| Total Debt | $1.81B | $1.81B | $1.71B | $1.63B | $1.40B | $778.85M | $454.97M | $160.00M | $7.00M | $7.00M |
| Net Debt | $1.37B | $1.40B | $1.38B | $1.43B | $1.27B | $649.84M | $400.04M | $150.04M | $5.56M | $3.28M |
Cash Flow Statement
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $117.68M | $120.04M | $188.04M | $162.21M | $8.11M | $16.97M | $11.78M | $-10.39M | $-1.79M | $-2.48M |
| Depreciation and Amortization | $75.48M | $73.36M | $72.22M | $69.83M | $41.85M | $28.75M | $17.41M | $2.00K | $2.00K | $3.00K |
| Deferred Income Tax | $- | $- | $- | $-24.24M | $22.82M | $1.71M | $22.00K | $-2.40M | $-477.00K | $-254.00K |
| Stock Based Compensation | $1.06M | $1.75M | $331.00K | $-1.27M | $284.00K | $324.00K | $202.00K | $115.00K | $97.00K | $91.00K |
| Change in Working Capital | $-664.00K | $-19.16M | $14.41M | $6.58M | $9.05M | $-764.00K | $6.82M | $-5.16M | $784.00K | $-418.00K |
| Accounts Receivables | $100.00K | $- | $168.00K | $-1.22M | $1.38M | $-5.42M | $-995.00K | $-6.55M | $204.00K | $-205.00K |
| Inventory | $267.00K | $169.00K | $1.19M | $-2.80M | $-970.00K | $-1.77M | $126.00K | $-1.04M | $- | $- |
| Accounts Payables | $-1.51M | $1.71M | $-222.00K | $-1.36M | $2.79M | $-10.00K | $516.00K | $272.00K | $579.00K | $- |
| Other Working Capital | $475.00K | $-21.05M | $13.28M | $11.96M | $5.85M | $6.44M | $6.17M | $-4.11M | $1.00K | $-213.00K |
| Other Non Cash Items | $-10.77M | $-953.00K | $-55.13M | $1.74M | $7.20M | $4.54M | $-518.00K | $111.00K | $305.00K | $247.00K |
| Net Cash Provided by Operating Activities | $182.80M | $175.03M | $219.88M | $214.84M | $89.30M | $51.53M | $35.71M | $-17.72M | $-1.08M | $-2.81M |
| Investments in Property Plant and Equipment | $-4.00K | $-2.00K | $-5.00K | $-265.93M | $-691.39M | $-291.54M | $-584.43M | $-77.71M | $-1.20M | $-209.00K |
| Acquisitions Net | $- | $- | $- | $- | $- | $- | $- | $- | $- | $1.00K |
| Purchases of Investments | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Sales Maturities of Investments | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Investing Activities | $- | $- | $- | $- | $- | $-10.00K | $-2.96M | $- | $- | $1.00K |
| Net Cash Used for Investing Activities | $-4.00K | $-2.00K | $-5.00K | $-265.93M | $-691.39M | $-291.54M | $-584.43M | $-77.71M | $-1.20M | $-208.00K |
| Debt Repayment | $-3.21M | $93.83M | $80.26M | $233.16M | $633.34M | $324.42M | $298.54M | $-117.00M | $- | $- |
| Common Stock Issued | $1.91M | $- | $15.42M | $- | $- | $- | $295.31M | $220.99M | $- | $8.00K |
| Common Stock Repurchased | $- | $- | $- | $-7.79M | $-1.66M | $- | $- | $- | $- | $- |
| Dividends Paid | $-161.67M | $-181.22M | $-186.09M | $-98.93M | $-10.82M | $-5.41M | $- | $- | $- | $- |
| Other Financing Activities | $7.37M | $-9.14M | $1.65M | $-3.34M | $-17.54M | $-5.01M | $295.31M | $- | $- | $- |
| Net Cash Used Provided by Financing Activities | $-155.61M | $-96.54M | $-88.76M | $123.10M | $603.32M | $314.00M | $593.86M | $103.96M | $- | $8.00K |
| Effect of Forex Changes on Cash | $-530.00K | $-348.00K | $115.00K | $195.00K | $-1.37M | $19.00K | $- | $- | $- | $- |
| Net Change in Cash | $26.66M | $78.14M | $131.23M | $72.21M | $-136.00K | $74.00M | $45.14M | $8.52M | $-2.28M | $-3.01M |
| Cash at End of Period | $437.20M | $410.54M | $332.40M | $201.17M | $128.96M | $129.10M | $55.10M | $9.96M | $1.44M | $3.72M |
| Cash at Beginning of Period | $410.54M | $332.40M | $201.17M | $128.96M | $129.10M | $55.10M | $9.96M | $1.44M | $3.72M | $6.73M |
| Operating Cash Flow | $182.80M | $175.03M | $219.88M | $214.84M | $89.30M | $51.53M | $35.71M | $-17.72M | $-1.08M | $-2.81M |
| Capital Expenditure | $-4.00K | $-2.00K | $-5.00K | $-265.93M | $-691.39M | $-291.54M | $-584.43M | $-77.71M | $-1.20M | $-209.00K |
| Free Cash Flow | $182.79M | $175.03M | $219.88M | $-51.09M | $-602.09M | $-240.02M | $-548.72M | $-95.44M | $-2.28M | $-3.02M |