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Frontline vs Teekay: revenue, profit, margins and growth compared

Frontline brought in $2B of revenue in fiscal 2025, Teekay $949.5M in fiscal 2025. Revenue changed by -8.8% at Frontline and -22.2% at Teekay on the year before, so Frontline grew faster. Frontline kept 19.2% of its revenue as net profit, Teekay 10.3%. Free cash flow was $669.9M at Frontline and $111.5M at Teekay.

Side by side, latest fiscal year

FROTK
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2B$949.5M
Revenue growth-8.8%-22.2%
Net income$379.1M$98.1M
Net margin19.2%10.3%
Free cash flow$669.9M$111.5M
Free cash flow margin34.0%11.7%
Earnings per share (diluted)$1.70$1.13
Cash$251.3M$940.7M
Debt$3.1Bn/a
Price to earningsn/an/a
Market value$10.6B$1.2B
Dividend yieldn/an/a
Rank by revenue in sector#356 of 778 · Consumer discretionary#472 of 778 · Consumer discretionary

Over the years

Revenue
FRO FY2018: $742.3MFRO FY2019: $957.3MFRO FY2020: $1.2BFRO FY2021: $753.4MFRO FY2022: $1.4BFRO FY2023: $1.8BFRO FY2024: $2.2BFRO FY2025: $2BTK FY2018: $1.7BTK FY2019: $1.3BTK FY2020: $1.1BTK FY2021: $682.5MTK FY2022: $1.2BTK FY2023: $1.5BTK FY2024: $1.2BTK FY2025: $949.5MFY18FY19FY20FY21FY22FY23FY24FY25
FRO $2BTK $949.5M
Net income
FRO FY2018: -$8.9MFRO FY2019: $140MFRO FY2020: $412.9MFRO FY2021: -$11.1MFRO FY2022: $475.5MFRO FY2023: $656.4MFRO FY2024: $495.6MFRO FY2025: $379.1MTK FY2018: -$79.2MTK FY2019: -$310.6MTK FY2020: -$82.9MTK FY2021: $7.8MTK FY2022: $78.4MTK FY2023: $150.6MTK FY2024: $133.8MTK FY2025: $98.1MFY18FY19FY20FY21FY22FY23FY24FY25
FRO $379.1MTK $98.1M
Net margin
FRO FY2018: -1.2%FRO FY2019: 14.6%FRO FY2020: 33.8%FRO FY2021: -1.5%FRO FY2022: 33.1%FRO FY2023: 35.9%FRO FY2024: 22.9%FRO FY2025: 19.2%TK FY2018: -4.6%TK FY2019: -24.4%TK FY2020: -7.2%TK FY2021: 1.1%TK FY2022: 6.6%TK FY2023: 10.3%TK FY2024: 11.0%TK FY2025: 10.3%FY18FY19FY20FY21FY22FY23FY24FY25
FRO 19.2%TK 10.3%
Revenue growth
FRO FY2019: +29.0%FRO FY2020: +27.6%FRO FY2021: -38.3%FRO FY2022: +90.9%FRO FY2023: +27.0%FRO FY2024: +18.4%FRO FY2025: -8.8%TK FY2019: -26.2%TK FY2020: -10.1%TK FY2021: -40.5%TK FY2022: +74.4%TK FY2023: +23.1%TK FY2024: -16.7%TK FY2025: -22.2%FY19FY20FY21FY22FY23FY24FY25
FRO -8.8%TK -22.2%
Free cash flow
FRO FY2021: -$410.8MFRO FY2022: $49.5MFRO FY2023: -$775.2MFRO FY2024: -$178.8MFRO FY2025: $669.9MTK FY2018: -$511.7MTK FY2019: $371.7MTK FY2020: $968MTK FY2021: $56.7MTK FY2022: $199.2MTK FY2023: $629.8MTK FY2024: $396.7MTK FY2025: $111.5MFY18FY19FY20FY21FY22FY23FY24FY25
FRO $669.9MTK $111.5M

Fiscal years as each company reports them; the two may end in different months.

Questions about Frontline and Teekay

Which is bigger by revenue, Frontline or Teekay?

Frontline is bigger by revenue: $2B in fiscal 2025, against $949.5M for Teekay in fiscal 2025.

Which keeps more of its revenue as profit, Frontline or Teekay?

Frontline had a net margin of 19.2% in fiscal 2025; Teekay had 10.3% in fiscal 2025.

Which grew revenue faster, Frontline or Teekay?

In their latest fiscal years revenue changed by -8.8% at Frontline and -22.2% at Teekay.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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