FRO vs. GSL
FRO (Frontline Ltd.) and GSL (Global Ship Lease, Inc.) are both stocks. FRO operates in Oil & Gas Midstream (Energy), while GSL operates in Marine Shipping (Industrials). Over the past 10 years, FRO returned 22.50%/yr vs 16.26%/yr for GSL. At a 0.27 correlation, their price movements are largely independent.
Performance
FRO vs. GSL - Performance Comparison
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Returns By Period
In the year-to-date period, FRO achieves a 62.94% return, which is significantly higher than GSL's 10.52% return. Over the past 10 years, FRO has outperformed GSL with an annualized return of 22.50%, while GSL has yielded a comparatively lower 16.26% annualized return.
FRO
- 1D
- -0.63%
- 1M
- -7.02%
- YTD
- 62.94%
- 6M
- 51.91%
- 1Y
- 106.10%
- 3Y*
- 45.60%
- 5Y*
- 42.39%
- 10Y*
- 22.50%
GSL
- 1D
- -0.11%
- 1M
- -4.12%
- YTD
- 10.52%
- 6M
- 7.33%
- 1Y
- 59.86%
- 3Y*
- 36.68%
- 5Y*
- 27.62%
- 10Y*
- 16.26%
FRO vs. GSL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRO Frontline Ltd. | 62.94% | 61.17% | -22.48% | 96.23% | 73.67% | 13.67% | -41.47% | 134.59% | 20.48% | -32.17% |
GSL Global Ship Lease, Inc. | 10.52% | 73.47% | 18.09% | 28.97% | -22.16% | 100.35% | 34.65% | 78.02% | -46.55% | -22.67% |
Correlation
The correlation between FRO and GSL is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Aug 18, 2008 | 0.27 |
Over the past year, FRO and GSL have become more correlated (0.49) than their long-term average of 0.27, meaning their price movements have been converging.
Fundamentals
FRO:
$7.67B
GSL:
$1.37B
FRO:
$4.06
GSL:
$10.76
FRO:
8.48
GSL:
3.49
FRO:
3.41
GSL:
1.75
FRO:
2.70
GSL:
0.73
FRO:
$2.25B
GSL:
$770.24M
FRO:
$933.72M
GSL:
$409.23M
FRO:
$1.21B
GSL:
$528.32M
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Return for Risk
FRO vs. GSL — Risk / Return Rank
FRO
GSL
FRO vs. GSL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Frontline Ltd. (FRO) and Global Ship Lease, Inc. (GSL). 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.
| FRO | GSL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.35 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.98 | 3.52 | +1.46 |
| Martin ratioReturn relative to average drawdown | 13.64 | 10.92 | +2.72 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FRO | GSL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.54 | 2.17 | +0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.86 | 0.74 | +0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | 0.30 | +0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.11 | 0.01 | +0.10 |
Drawdowns
FRO vs. GSL - Drawdown Comparison
The maximum FRO drawdown since its inception was -98.36%, roughly equal to the maximum GSL drawdown of -95.26%. Use the drawdown chart below to compare losses from any high point for FRO and GSL.
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Drawdown Indicators
| FRO | GSL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.36% | -95.26% | -3.10% |
Max Drawdown (1Y)Largest decline over 1 year | -21.41% | -17.09% | -4.32% |
Max Drawdown (3Y)Largest decline over 3 years | -52.04% | -35.82% | -16.22% |
Max Drawdown (5Y)Largest decline over 5 years | -52.04% | -47.50% | -4.54% |
Max Drawdown (10Y)Largest decline over 10 years | -57.14% | -86.50% | +29.36% |
Current DrawdownCurrent decline from peak | -74.62% | -9.88% | -64.74% |
Average DrawdownAverage peak-to-trough decline | -67.84% | -58.80% | -9.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.80% | 5.50% | +2.30% |
Volatility
FRO vs. GSL - Volatility Comparison
Frontline Ltd. (FRO) and Global Ship Lease, Inc. (GSL) have volatilities of 10.53% and 10.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRO | GSL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.53% | 10.31% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 30.64% | 20.62% | +10.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.97% | 27.66% | +14.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.34% | 37.51% | +11.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.16% | 54.83% | -3.67% |
Dividends
FRO vs. GSL - Dividend Comparison
FRO's dividend yield for the trailing twelve months is around 5.11%, less than GSL's 6.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRO Frontline Ltd. | 5.11% | 4.26% | 13.74% | 14.31% | 1.24% | 0.00% | 25.72% | 0.78% | 0.00% | 6.54% | 19.83% | 1.67% |
GSL Global Ship Lease, Inc. | 6.39% | 6.06% | 7.56% | 7.57% | 8.26% | 3.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 7.69% |
Financials
FRO vs. GSL - Financials Comparison
This section allows you to compare key financial metrics between Frontline Ltd. and Global Ship Lease, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
FRO vs. GSL - Profitability Comparison
FRO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Frontline Ltd. reported a gross profit of 395.96M and revenue of 714.24M. Therefore, the gross margin over that period was 55.4%.
GSL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Global Ship Lease, Inc. reported a gross profit of 106.27M and revenue of 198.08M. Therefore, the gross margin over that period was 53.7%.
FRO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Frontline Ltd. reported an operating income of 370.04M and revenue of 714.24M, resulting in an operating margin of 51.8%.
GSL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Global Ship Lease, Inc. reported an operating income of 97.42M and revenue of 198.08M, resulting in an operating margin of 49.2%.
FRO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Frontline Ltd. reported a net income of 559.12M and revenue of 714.24M, resulting in a net margin of 78.3%.
GSL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Global Ship Lease, Inc. reported a net income of 93.83M and revenue of 198.08M, resulting in a net margin of 47.4%.
Frequently Asked Questions
FRO and GSL have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FRO has higher volatility (10.53%) compared to GSL (10.31%). In terms of maximum drawdown, FRO dropped -98.36% vs GSL's -95.26%.
FRO currently has the higher Sharpe Ratio (2.54 vs 2.17), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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