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Side-by-side financial comparison of Flex LNG Ltd. (FLNG) and FIRST INDUSTRIAL REALTY TRUST INC (FR). Click either name above to swap in a different company.

FIRST INDUSTRIAL REALTY TRUST INC is the larger business by last-quarter revenue ($194.8M vs $173.2M, roughly 1.1× Flex LNG Ltd.). FIRST INDUSTRIAL REALTY TRUST INC runs the higher net margin — 75.9% vs 22.2%, a 53.8% gap on every dollar of revenue. On growth, FIRST INDUSTRIAL REALTY TRUST INC posted the faster year-over-year revenue change (10.0% vs -4.5%).

Golar LNG owns and operates marine LNG infrastructure. The company had developed Floating LNG liquefaction terminal (FLNG) and Floating Storage and Regasification Unit (FSRU) projects based on the conversion of existing LNG carriers. Front End Engineering and Design (FEED) studies have now been completed for a larger newbuild FLNG solution. Golar is also collaborating with another industry leader to investigate solutions for the floating production of blue and green ammonia as well as carbon ...

First Potomac Realty Trust was a real estate investment trust that invested in industrial properties and business parks in the suburbs of the Washington metropolitan area. In 2017, it was acquired by Government Properties Income Trust.

FLNG vs FR — Head-to-Head

Bigger by revenue
FR
FR
1.1× larger
FR
$194.8M
$173.2M
FLNG
Growing faster (revenue YoY)
FR
FR
+14.5% gap
FR
10.0%
-4.5%
FLNG
Higher net margin
FR
FR
53.8% more per $
FR
75.9%
22.2%
FLNG

Income Statement — Q4 FY2025 vs Q1 FY2026

Metric
FLNG
FLNG
FR
FR
Revenue
$173.2M
$194.8M
Net Profit
$38.4M
$147.9M
Gross Margin
Operating Margin
48.9%
Net Margin
22.2%
75.9%
Revenue YoY
-4.5%
10.0%
Net Profit YoY
-38.7%
179.7%
EPS (diluted)
$0.71
$1.08

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
FLNG
FLNG
FR
FR
Q1 26
$194.8M
Q4 25
$173.2M
$188.4M
Q3 25
$181.4M
Q2 25
$180.2M
Q1 25
$177.1M
Q4 24
$181.4M
$175.6M
Q3 24
$167.6M
Q2 24
$164.1M
Net Profit
FLNG
FLNG
FR
FR
Q1 26
$147.9M
Q4 25
$38.4M
$78.8M
Q3 25
$65.3M
Q2 25
$55.2M
Q1 25
$48.1M
Q4 24
$62.6M
$68.4M
Q3 24
$99.4M
Q2 24
$51.3M
Operating Margin
FLNG
FLNG
FR
FR
Q1 26
Q4 25
48.9%
34.6%
Q3 25
37.0%
Q2 25
31.7%
Q1 25
31.2%
Q4 24
55.9%
40.1%
Q3 24
62.6%
Q2 24
31.8%
Net Margin
FLNG
FLNG
FR
FR
Q1 26
75.9%
Q4 25
22.2%
41.8%
Q3 25
36.0%
Q2 25
30.6%
Q1 25
27.2%
Q4 24
34.5%
39.0%
Q3 24
59.3%
Q2 24
31.3%
EPS (diluted)
FLNG
FLNG
FR
FR
Q1 26
$1.08
Q4 25
$0.71
$0.60
Q3 25
$0.49
Q2 25
$0.42
Q1 25
$0.36
Q4 24
$1.16
$0.51
Q3 24
$0.75
Q2 24
$0.39

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
FLNG
FLNG
FR
FR
Cash + ST InvestmentsLiquidity on hand
$447.6M
Total DebtLower is stronger
$1.9B
Stockholders' EquityBook value
$719.3M
$2.9B
Total Assets
$2.6B
$5.8B
Debt / EquityLower = less leverage
2.59×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
FLNG
FLNG
FR
FR
Q1 26
Q4 25
$447.6M
$78.0M
Q3 25
$33.5M
Q2 25
$34.9M
Q1 25
$35.7M
Q4 24
$437.2M
$44.5M
Q3 24
$47.1M
Q2 24
$38.5M
Total Debt
FLNG
FLNG
FR
FR
Q1 26
Q4 25
$1.9B
Q3 25
Q2 25
Q1 25
Q4 24
$1.8B
Q3 24
Q2 24
Stockholders' Equity
FLNG
FLNG
FR
FR
Q1 26
$2.9B
Q4 25
$719.3M
$2.7B
Q3 25
$2.7B
Q2 25
$2.6B
Q1 25
$2.7B
Q4 24
$806.6M
$2.7B
Q3 24
$2.6B
Q2 24
$2.6B
Total Assets
FLNG
FLNG
FR
FR
Q1 26
$5.8B
Q4 25
$2.6B
$5.7B
Q3 25
$5.5B
Q2 25
$5.5B
Q1 25
$5.4B
Q4 24
$2.7B
$5.3B
Q3 24
$5.2B
Q2 24
$5.2B
Debt / Equity
FLNG
FLNG
FR
FR
Q1 26
Q4 25
2.59×
Q3 25
Q2 25
Q1 25
Q4 24
2.26×
Q3 24
Q2 24

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
FLNG
FLNG
FR
FR
Operating Cash FlowLast quarter
$73.7M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
1.92×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
FLNG
FLNG
FR
FR
Q1 26
Q4 25
$73.7M
$461.3M
Q3 25
$124.6M
Q2 25
$126.1M
Q1 25
$88.6M
Q4 24
$100.4M
$352.5M
Q3 24
$105.5M
Q2 24
$107.7M
Cash Conversion
FLNG
FLNG
FR
FR
Q1 26
Q4 25
1.92×
5.85×
Q3 25
1.91×
Q2 25
2.28×
Q1 25
1.84×
Q4 24
1.60×
5.15×
Q3 24
1.06×
Q2 24
2.10×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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