Frontline (FRO) Return on Capital Employed (2009 - 2025)
Frontline (FRO) posted Return on Capital Employed of 11.43% for Q4 2025, up 38.79% on a QoQ basis from 8.24% in Q3 2025, and down 239.0% year-over-year from 8.22% in Q4 2024.
Frontline (FRO) Return on Capital Employed (2009 - 2025) Analysis & Trends
Frontline's Return on Capital Employed history runs 17 years deep, the most recent figure standing at 11.43% for Q4 2025.
- Quarterly Return on Capital Employed fell 239.0% year-over-year to 11.43% in Q4 2025, while the trailing twelve-month figure through Dec 2025 was 11.43% (down 239.0% YoY) and the FY2025 annual result came in at 10.9%, down 343.0% from the prior year.
- Return on Capital Employed was 11.43% for Q4 2025 at Frontline, up from 8.24% in the prior quarter.
- Across five years, Return on Capital Employed topped out at 20.48% in Q3 2023 and bottomed at 0.09% in Q3 2021.
- A 5-year average of 9.7% and a median of 10.63% in 2022 frame the typical range for Return on Capital Employed.
- Annual changes were most pronounced in 2021 — Return on Capital Employed plunged 1751 bps — and 2023, when it soared 1784 bps.
- Frontline's Return on Capital Employed stood at 0.32% in 2021, then soared by 3094 bps to 10.37% in 2022, then surged by 49 bps to 15.45% in 2023, then declined by 11 bps to 13.82% in 2024, then decreased by 17 bps to 11.43% in 2025.
- Business Quant data shows FRO's Return on Capital Employed at 11.43% in Q4 2025, 8.24% in Q3 2025, and 8.84% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | DHT Holdings | 2,706.13 Bn | 2,706.00 Bn | 167.16 Mn | 22.21% |
| 2 | Flex LNG | 1,674.16 Bn | 1,673.77 Bn | 61.79 Mn | 14.37% |
| 3 | Kinder Morgan | 112.74 Bn | 113.82 Bn | 3.07 Bn | 7.68% |
| 4 | Enbridge | 89.82 Bn | 89.03 Bn | 6.70 Bn | 5.26% |
| 5 | Enterprise Products Partners | 83.97 Bn | 82.82 Bn | - | 11.93% |
| 6 | Tc Energy | 72.76 Bn | 73.95 Bn | 1.36 Bn | - |
| 7 | Energy Transfer | 70.27 Bn | 69.30 Bn | 6.62 Bn | 7.59% |
| 8 | Targa Resources | 61.30 Bn | 61.34 Bn | 1.70 Bn | 15.97% |
| 9 | Oneok | 61.15 Bn | 61.02 Bn | 8.98 Bn | 9.98% |
| 10 | Frontline | 1.55 Bn | 1.29 Bn | - | 11.43% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 11.43% |
| Sep 30, 2025 | 8.24% |
| Jun 30, 2025 | 8.84% |
| Mar 31, 2025 | 10.90% |
| Dec 31, 2024 | 13.82% |
| Sep 30, 2024 | 13.58% |
| Jun 30, 2024 | 12.85% |
| Mar 31, 2024 | 13.11% |
| Dec 31, 2023 | 15.45% |
| Sep 30, 2023 | 20.48% |
| Jun 30, 2023 | 20.10% |
| Mar 31, 2023 | 15.52% |
| Dec 31, 2022 | 10.37% |
| Sep 30, 2022 | 5.32% |
| Jun 30, 2022 | 2.26% |
| Mar 31, 2022 | 0.23% |
| Dec 31, 2021 | 0.32% |
| Sep 30, 2021 | -0.09% |
| Jun 30, 2021 | 2.46% |
| Mar 31, 2021 | 8.89% |