Positioning no disclosures inside 60 days, left as found
Options put/call open interest 1.17, read 2026-11-03
Ethical does not pass the values gate
Price25.94 USD
Fair value21.59
Ethical score70.0/100
Value readOvervaluedas of 5 Nov 2026
Our investment reviews on this name
2026-10-02Read Markdown31.07-16.5% to today ✓Markup gives way to Markdown first Markdown read since July
2026-08-29Read Markup32.48-20.1% to today Markdown gives way to Markup after a 6% rise in 4 weeks
2026-07-30Read Markdown30.67-15.4% to today ✓Accumulation gives way to Markdown
2026-07-02Read Accumulation31.28-17.1% to today First review on file: Accumulation
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
FLEXLNG Ltd. holds its Distribution at $25.94. The statistical read favours the sellers, held for 14 days.
As held on the ledger · 2026-11-05
Phase
Distribution · caution
Quantitative state
The statistical read favours the sellers, held for 14 days
Price at the screen
$25.94
Valuation
15.01 trailing · 13.24 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.24
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
107.92%
Below 33%
Interest-bearing debt is 107.9% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
26.13%
Below 33%
Cash held in interest-bearing accounts and securities is 26.1% of assets, under the one-third limit.
Pass
Receivables
0.00%
Below 49%
Money owed to the company is 0.0% of assets, under the 49% limit.
Pass
Revenue purity
1.18%
Below 5%
Only 1.2% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
FLEX LNG's business is in a permissible area, but its interest-bearing debt is about 108% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Overvalued vs our fair value, as of 5 Nov 2026: it trades above our $21.59 fair value estimate, weak competitive moat, 24.20% revenue growth.
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. The price runs 20.1% above the base estimate.
Where our models see it going: fair-value estimate $21.59, with a range of $21.59 to $24.83, dated to the 2026-11-05 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
LNG Shipping Looks Cheap But Traps Lurk
Picture an LNG tanker ploughing through stormy seas with a hold full of volatile cargo. FLEX LNG moves gas across oceans yet the market price sits well above our fair value and the business carries too much debt to pass a basic ethical check.
The forward multiple of 14.3 times earnings looks modest until you notice revenue already falling nine percent and a weak moat that leaves returns on equity at just ten percent. In cyclical shipping, a low multiple often signals peak earnings rather than a bargain, and five analysts already mark the shares as underperform.
High debt loads amplify swings in energy prices while thin margins offer little cushion. The combination of ethical failure and cyclical exposure makes this one to leave on the shelf. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; its business and earnings are exposed to Bermuda and to currency swings; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
FLNG trades on the NYSE (the company is based in Bermuda). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-31Markdown$28.51-3.8%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 1% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 44%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (5 analysts) rates it underperform, with a mean price target of $25.
2026-10-24Markdown$29.64+0.0%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 2% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 44%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (5 analysts) rates it underperform, with a mean price target of $25.
2026-10-17Markdown$29.64-4.6%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 4.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 20% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 44%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (5 analysts) rates it underperform, with a mean price target of $25.
2026-10-02Markdown · changed$31.07-4.3%Entry 6
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 4.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 20% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 44%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (5 analysts) rates it underperform, with a mean price target of $25.
2026-08-29Markup · changed$32.48+5.9%Entry 5
The framework has shifted from markdown to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 5.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 20% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 44%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (5 analysts) rates it underperform, with a mean price target of $25.
2026-07-30Markdown · changed$30.67-2.0%Entry 4
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 2.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 20% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 44%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (5 analysts) rates it underperform, with a mean price target of $25.
2026-07-18Accumulation$31.28+0.0%Entry 3
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 20% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 44%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (5 analysts) rates it underperform, with a mean price target of $25.
2026-07-03Accumulation$31.28+0.0%Entry 2
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Accumulation$31.28Entry 1
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
