Frontline Corporation Limited (FRONTCORP.BO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-826.8%

-₹251.46

vs ₹34.60 price

Levered DCF

-₹598.07

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	5.2×	7.44×	15.98×	4.48×	9.28×	4.24×	-6.06×	-18.81×
P/B	0.7×	1.4×	1.55×	1.07×	1.57×	0.68×	1×	1.05×
P/S	0.1×	0.2×	0.22×	0.15×	0.18×	0.08×	0.12×	0.13×
EV / EBITDA	10.86×	17.1×	35.19×	18.64×	21.66×	19.74×	79.2×	45.23×
Gross margin	35.2%	30.4%	25.0%	30.0%	28.1%	27.9%	33.9%	39.2%
Operating margin	29.9%	24.7%	18.6%	23.2%	21.1%	27.4%	33.2%	-1.3%
Net margin	2.0%	2.7%	1.4%	3.4%	2.0%	1.9%	-1.9%	-0.7%
Current ratio	0.55×	0.51×	0.54×	0.49×	0.44×	0.44×	0.46×	0.46×
Debt / equity	3.09×	3.72×	4.56×	4.34×	5.69×	7.21×	8.83×	8.83×
Interest coverage	0×	0×	0×	0×	0×	0×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	13.5%	18.8%	9.7%	23.9%	16.9%	16.0%	-16.5%	-5.6%
Return on invested capital	39.2%	29.1%	18.6%	23.2%	21.4%	24.8%	24.4%	-0.7%
Return on assets	2.8%	3.5%	1.6%	4.1%	2.3%	1.8%	-1.4%	-0.5%
Free cash flow yield	0.0%	-5.2%	-50.6%	-18.7%	12.1%	-7.2%	-36.1%	2.7%
Earnings yield	19.2%	13.4%	6.3%	22.4%	10.8%	23.6%	-16.5%	-5.3%
Enterprise value	₹666.6M	₹772.9M	₹755.5M	₹605.5M	₹615.1M	₹551.1M	₹576.8M	₹579.8M
Net debt / EBITDA	8.81×	12.35×	26.15×	14.91×	16.92×	18×	71×	40.34×
Cash conversion cycle (days)	55	72	63	65	58	66	54	56