Frontline (FRO) Operating Margin (2009 - 2025)
Frontline (FRO) posted Operating Margin of 44.47% for Q4 2025, up 100.5% on a QoQ basis from 22.18% in Q3 2025, and up 1400.0% year-over-year from 2.96% in Q4 2024.
Frontline (FRO) Operating Margin (2009 - 2025) Analysis & Trends
Frontline (FRO) has reported Operating Margin for 17 consecutive years, with 44.47% the latest figure, recorded in Q4 2025.
- Operating Margin for Q4 2025 came in at 44.47%, up 1400.0% year-over-year; the trailing twelve-month figure through Dec 2025 was 30.47% (down 766.0% YoY), and the FY2025 annual result was 30.47%, down 766.0% from the prior year.
- Operating Margin was 44.47% for Q4 2025 at Frontline, up from 22.18% in the prior quarter.
- Over five years, Operating Margin peaked at 97.6% in Q1 2021 and troughed at 11.2% in Q3 2021.
- A 5-year average of 31.07% and a median of 29.98% in 2023 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2021 — Operating Margin soared 4698 bps — and 2022, when it tumbled 8806 bps.
- Year by year, Operating Margin stood at 8.63% in 2021, then soared by 438 bps to 46.48% in 2022, then dropped by 28 bps to 33.26% in 2023, then slipped by 8 bps to 30.48% in 2024, then surged by 46 bps to 44.47% in 2025.
- Per Business Quant, the three latest FRO Operating Margin figures stand at 44.47% (Q4 2025), 22.18% (Q3 2025), and 27.47% (Q2 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 1,308.38 Bn | 1,309.08 Bn | 6.70 Bn | 14.43% |
| 2 | Kinder Morgan | 112.34 Bn | 113.42 Bn | 3.08 Bn | 29.91% |
| 3 | Enterprise Products Partners | 79.55 Bn | 78.40 Bn | - | 13.17% |
| 4 | Energy Transfer | 65.78 Bn | 65.07 Bn | 6.62 Bn | 10.74% |
| 5 | Targa Resources | 57.60 Bn | 57.63 Bn | 1.70 Bn | 20.68% |
| 6 | Mplx | 57.17 Bn | 55.67 Bn | 2.54 Bn | 39.96% |
| 7 | Oneok | 54.83 Bn | 54.70 Bn | 2.57 Bn | 14.85% |
| 8 | Cheniere Energy Partners | 29.50 Bn | 29.22 Bn | 838.00 Mn | 10.03% |
| 9 | Venture Global | 27.41 Bn | 27.36 Bn | 4.33 Bn | 25.03% |
| 10 | Frontline | 7.75 Bn | 7.48 Bn | - | 44.47% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 44.47% |
| Sep 30, 2025 | 22.18% |
| Jun 30, 2025 | 27.47% |
| Mar 31, 2025 | 21.77% |
| Dec 31, 2024 | 30.48% |
| Sep 30, 2024 | 29.53% |
| Jun 30, 2024 | 46.03% |
| Mar 31, 2024 | 43.44% |
| Dec 31, 2023 | 33.26% |
| Sep 30, 2023 | 30.43% |
| Jun 30, 2023 | 49.34% |
| Mar 31, 2023 | 48.44% |
| Dec 31, 2022 | 46.48% |
| Sep 30, 2022 | 29.41% |
| Jun 30, 2022 | 20.94% |
| Mar 31, 2022 | 9.54% |
| Dec 31, 2021 | 8.63% |
| Sep 30, 2021 | -11.20% |
| Jun 30, 2021 | -6.87% |
| Mar 31, 2021 | 97.60% |