DHT vs. FRO

Last updated Apr 1, 2026

Compare and contrast key facts about DHT Holdings, Inc. (DHT) and Frontline Ltd. (FRO).

Performance

DHT vs. FRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DHT Holdings, Inc. (DHT) and Frontline Ltd. (FRO). The values are adjusted to include any dividend payments, if applicable.

DHT vs. FRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DHT DHT Holdings, Inc.	53.40%	40.04%	3.58%	24.07%	73.87%	1.41%	-20.52%	118.96%	11.32%	-9.26%
FRO Frontline Ltd.	64.83%	61.17%	-22.48%	96.23%	73.67%	13.67%	-41.47%	134.59%	20.48%	-32.17%

Fundamentals

Market Cap DHT : $2.94B FRO : $7.76B
EPS DHT : $1.31 FRO : $1.70
PE Ratio DHT : 13.92 FRO : 20.47
PS Ratio DHT : 5.90 FRO : 3.95
PB Ratio DHT : 2.59 FRO : 3.09
Total Revenue (TTM) DHT : $498.17M FRO : $1.97B
Gross Profit (TTM) DHT : $190.72M FRO : $644.05M
EBITDA (TTM) DHT : $331.91M FRO : $943.61M

Returns By Period

In the year-to-date period, DHT achieves a 53.40% return, which is significantly lower than FRO's 64.83% return. Over the past 10 years, DHT has underperformed FRO with an annualized return of 21.20%, while FRO has yielded a comparatively higher 23.46% annualized return.

DHT

• 1D: 1.90%
• 1M: -6.26%
• YTD: 53.40%
• 6M: 58.88%
• 1Y: 87.18%
• 3Y*: 29.90%
• 5Y*: 33.08%
• 10Y*: 21.20%

FRO

• 1D: 4.40%
• 1M: -5.23%
• YTD: 64.83%
• 6M: 59.13%
• 1Y: 150.61%
• 3Y*: 40.69%
• 5Y*: 46.51%
• 10Y*: 23.46%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

DHT vs. FRO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DHT

DHT Risk / Return Rank: 93
DHT Sharpe Ratio Rank: 94
DHT Sortino Ratio Rank: 93
DHT Omega Ratio Rank: 89
DHT Calmar Ratio Rank: 95
DHT Martin Ratio Rank: 93

FRO

FRO Risk / Return Rank: 96
FRO Sharpe Ratio Rank: 97
FRO Sortino Ratio Rank: 95
FRO Omega Ratio Rank: 92
FRO Calmar Ratio Rank: 97
FRO Martin Ratio Rank: 97

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DHT vs. FRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DHT Holdings, Inc. (DHT) and Frontline Ltd. (FRO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	DHT	FRO	Difference
Sharpe ratio Return per unit of total volatility	2.47	3.18	-0.71
Sortino ratio Return per unit of downside risk	3.21	3.53	-0.32
Omega ratio Gain probability vs. loss probability	1.38	1.43	-0.05
Calmar ratio Return relative to maximum drawdown	5.49	6.94	-1.45
Martin ratio Return relative to average drawdown	13.34	20.04	-6.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DHT vs. FRO - Sharpe Ratio Comparison

The current DHT Sharpe Ratio is 2.47, which is comparable to the FRO Sharpe Ratio of 3.18. The chart below compares the historical Sharpe Ratios of DHT and FRO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DHT	FRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.47	3.18	-0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	0.95	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.46	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	-0.05	0.11	-0.15

Correlation

The correlation between DHT and FRO is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

DHT vs. FRO - Dividend Comparison

DHT's dividend yield for the trailing twelve months is around 5.36%, more than FRO's 5.05% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DHT DHT Holdings, Inc.	5.36%	6.06%	10.76%	11.72%	1.35%	2.50%	25.81%	2.42%	2.04%	5.57%	17.15%	6.55%
FRO Frontline Ltd.	5.05%	4.26%	13.74%	14.31%	1.24%	0.00%	25.72%	0.78%	0.00%	6.54%	19.83%	1.67%

Drawdowns

DHT vs. FRO - Drawdown Comparison

The maximum DHT drawdown since its inception was -97.12%, roughly equal to the maximum FRO drawdown of -98.36%. Use the drawdown chart below to compare losses from any high point for DHT and FRO.

Drawdown Indicators

	DHT	FRO	Difference
Max Drawdown Largest peak-to-trough decline	-97.12%	-98.36%	+1.24%
Max Drawdown (1Y) Largest decline over 1 year	-15.22%	-21.41%	+6.19%
Max Drawdown (5Y) Largest decline over 5 years	-34.44%	-52.04%	+17.60%
Max Drawdown (10Y) Largest decline over 10 years	-39.56%	-57.14%	+17.58%
Current Drawdown Current decline from peak	-64.59%	-74.33%	+9.74%
Average Drawdown Average peak-to-trough decline	-76.48%	-67.81%	-8.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.26%	7.42%	-1.16%

Volatility

DHT vs. FRO - Volatility Comparison

The current volatility for DHT Holdings, Inc. (DHT) is 14.57%, while Frontline Ltd. (FRO) has a volatility of 16.61%. This indicates that DHT experiences smaller price fluctuations and is considered to be less risky than FRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DHT	FRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.57%	16.61%	-2.04%
Volatility (6M) Calculated over the trailing 6-month period	25.16%	30.24%	-5.08%
Volatility (1Y) Calculated over the trailing 1-year period	35.53%	47.59%	-12.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.24%	49.39%	-11.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.53%	51.47%	-9.94%

Financials

DHT vs. FRO - Profitability Comparison

The chart below illustrates the profitability comparison between DHT Holdings, Inc. and Frontline Ltd. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

DHT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, DHT Holdings, Inc. reported a gross profit of 73.73M and revenue of 143.93M. Therefore, the gross margin over that period was 51.2%.

FRO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Frontline Ltd. reported a gross profit of 288.91M and revenue of 624.51M. Therefore, the gross margin over that period was 46.3%.

DHT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, DHT Holdings, Inc. reported an operating income of 68.11M and revenue of 143.93M, resulting in an operating margin of 47.3%.

FRO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Frontline Ltd. reported an operating income of 277.74M and revenue of 624.51M, resulting in an operating margin of 44.5%.

DHT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, DHT Holdings, Inc. reported a net income of 66.07M and revenue of 143.93M, resulting in a net margin of 45.9%.

FRO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Frontline Ltd. reported a net income of 227.93M and revenue of 624.51M, resulting in a net margin of 36.5%.