Golar LNG Limited (GLNG)
NASDAQ:GLNG
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Golar LNG
(NASDAQ:GLNG)
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Rating:62Neutral
Price Target:
$56.00
â–²(8.02% Upside)
Action:Reiterated
Date:05/24/26
The score is driven primarily by improving profitability and strong earnings-call visibility (large backlog and expected EBITDA ramp), offset by consistently negative free cash flow and higher leverage. Technical indicators are currently weak, while valuation appears reasonable with a modest dividend.
Positive Factors
Large contracted backlog and visible run‑rate
A $17B, multi‑decade backlog tied to long‑term charters provides durable revenue visibility and underpins a path to >$800M run‑rate EBITDA. This contract depth reduces reliance on spot markets for base cash flows and supports multi‑year project planning and financing.
Negative Factors
Materially negative free cash flow
Persistent negative free cash flow reflects heavy investment and staged CapEx that outpaces internal cash generation. Over the medium term this constrains capacity to pay down debt, fund new FLNGs, or increase distributions without external financing or asset recycling.
Read all positive and negative factors
Positive Factors
Negative Factors
Large contracted backlog and visible run‑rate
A $17B, multi‑decade backlog tied to long‑term charters provides durable revenue visibility and underpins a path to >$800M run‑rate EBITDA. This contract depth reduces reliance on spot markets for base cash flows and supports multi‑year project planning and financing.
Read all positive factors
Golar LNG (GLNG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.32B
Dividend Yield2.68%
Average Volume (3M)1.43M
Price to Earnings (P/E)20.1
Beta (1Y)1.10
Revenue Growth81.68%
EPS Growth5160.46%
CountryUS
Employees474
SectorEnergy
Sector Strength52
IndustryOil & Gas Midstream
Share Statistics
EPS (TTM)1.38
Shares Outstanding101,589,270
10 Day Avg. Volume1,871,893
30 Day Avg. Volume1,429,695
Financial Highlights & Ratios
PEG Ratio1.76
Price to Book (P/B)2.05
Price to Sales (P/S)9.58
P/FCF Ratio-8.88
Enterprise Value/Market Cap1.30
Enterprise Value/Revenue14.75
Enterprise Value/Gross Profit28.15
Enterprise Value/Ebitda26.92
Forecast
1Y Price Target
$56.50Price Target Upside8.99% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.93
Revenue Forecast (FY)$423.27M
Golar LNG Business Overview & Revenue Model
Company Description
Golar LNG Limited designs, builds, owns, and operates marine infrastructure for the liquefaction and regasification of LNG. It operates through Shipping and FLNG segments. The company engages in the operation and chartering of LNG carriers, Floati...
How the Company Makes Money
GLNG primarily makes money by developing and operating floating LNG liquefaction projects and earning contracted cash flows tied to making LNG from natural gas. Key revenue streams typically include: (1) Long-term contracted fees from FLNG operati...
Golar LNG Earnings Call Summary
Earnings Call Date:May 20, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call presented strong operational and financial momentum: record production, Gimi outperformance, 100% Hilli uptime, a $17 billion backlog, meaningful near-term commodity upside ($200–$500M annual in early SESA years), and a clear path to >$800M run-rate EBITDA once three units operate. Balance sheet liquidity (>$1B cash) and a fully equity-funded Mark II to date underpin growth capacity. Risks include seasonality of outperformance, commodity-price dependence, outstanding infrastructure work (Argentina pipeline), outstanding financing instruments, and near-term uncertainty from a strategic review. On balance, highlights substantially outweigh the lowlights, with clear visibility to materially higher contracted earnings and multiple levers to fund future growth.Positive Updates
Record LNG Production Quarter
Q1 was a record quarter for Golar's LNG production: Gimi produced 19% above committed contractual capacity (all-time high) and generated north of $700,000 per day during the quarter; Hilli maintained 100% economic uptime and has now offloaded 152 cargoes.
Negative Updates
Seasonality and Sustainability of Gimi Outperformance
Gimi's 19% outperformance is partly attributed to favorable ambient temperatures and management cautioned this should not be annualized; lower production is expected in summer months introducing potential near-term volatility in output and earnings.
Read all updates
Q1-2026 Updates
Positive
Negative
Record LNG Production Quarter
Q1 was a record quarter for Golar's LNG production: Gimi produced 19% above committed contractual capacity (all-time high) and generated north of $700,000 per day during the quarter; Hilli maintained 100% economic uptime and has now offloaded 152 cargoes.
Read all positive updates
Company Guidance
Management guided that Golar’s $17 billion base backlog (all 20‑year charters) should drive run‑rate adjusted EBITDA >$800M before commodity upside once three FLNGs are fully operational, with Gimi (70% equity) contributing ~$150M p.a. (Q1 production +19% vs. contract; >$700k/day), Hilli ~$285M (100% economic uptime, 152 cargoes, $47M Q1) and Mark II ~$400M (on schedule for YE‑2027 delivery, charter start summer ’28); commodity exposure adds roughly $100M p.a. for every $1/MMBtu above $8 and front‑year upside is seen at ~$200–$500M p.a.; Q1 metrics: revenues $138M, EBITDA $106M (+16% QoQ), net income $102M, cash just over $1B, net interest‑bearing debt ~$1.7B, fully‑delivered leverage ~3.4x, market cap ~$5.7B; capital allocation/other: $0.25/share quarterly dividend (~$25M this quarter), dividend run‑rate ~$1/share today with potential >$5/share as contracts ramp, ~$200M deployed in Q1 (>$134M into FLNG growth, $1.2B invested into Mark II fully equity funded), $77M equity for San Matias pipeline, total FLNG fleet pipeline of interest (9 on water, 5 under construction), targeting order of a fourth FLNG in 2026 and policy to add ≥1 FLNG/year.Golar LNG Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
56
Neutral
Cash Flow
44
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 468.57M | 393.52M | 260.37M | 298.43M | 267.74M | 260.27M |
| Gross Profit | 245.50M | 184.37M | 85.26M | 154.80M | 140.78M | 139.88M |
| EBITDA | 256.69M | 184.80M | 146.96M | 53.21M | 1.08B | 29.54M |
| Net Income | 141.06M | 65.68M | 50.84M | -46.82M | 674.60M | -161.09M |
Balance Sheet | ||||||
| Total Assets | 5.35B | 5.33B | 4.37B | 4.08B | 4.28B | 4.95B |
| Cash, Cash Equivalents and Short-Term Investments | 1.02B | 1.18B | 566.38M | 679.23M | 1.10B | 716.10M |
| Total Debt | 2.73B | 2.76B | 1.46B | 1.22B | 1.19B | 1.63B |
| Total Liabilities | 3.20B | 3.26B | 2.00B | 1.48B | 1.38B | 2.77B |
| Stockholders Equity | 1.91B | 1.84B | 2.01B | 2.07B | 2.50B | 1.73B |
Cash Flow | ||||||
| Free Cash Flow | -437.75M | -424.70M | -120.31M | -189.96M | 31.46M | 24.85M |
| Operating Cash Flow | 408.51M | 428.67M | 318.24M | 135.25M | 298.88M | 238.33M |
| Investing Cash Flow | -931.11M | -813.20M | -416.98M | -131.71M | 1.07B | -74.35M |
| Financing Cash Flow | 912.25M | 883.36M | 43.85M | -244.95M | -691.64M | -51.61M |
Golar LNG Technical Analysis
Neutral
51.84
Price Trends
53.77
Negative
47.87
Positive
43.47
Positive
Market Momentum
0.06
Positive
37.27
Neutral
9.11
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GLNG, the sentiment is Neutral. The current price of 51.84 is below the 20-day moving average (MA) of 55.29, below the 50-day MA of 53.77, and above the 200-day MA of 43.47, indicating a neutral trend. The MACD of 0.06 indicates Positive momentum. The RSI at 37.27 is Neutral, neither overbought nor oversold. The STOCH value of 9.11 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GLNG.
Golar LNG Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | $2.67B | 4.15 | 21.40% | 3.72% | -2.29% | 31.43% | |
75 Outperform | $1.43B | 8.85 | 8.94% | 1.27% | -1.33% | 28.23% | |
75 Outperform | $140.07M | 2.24 | 13.16% | 5.08% | 0.14% | 24.81% | |
71 Outperform | $1.70B | 20.59 | 10.36% | 12.31% | -4.20% | -26.95% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
63 Neutral | $2.73B | 20.58 | 1917.10% | 9.78% | 13.04% | 6.21% | |
62 Neutral | $5.32B | 20.07 | 8.36% | 2.68% | 81.68% | 5160.46% |
* Energy Sector Average
GLNG
Golar LNG
51.82
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35.65%
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DKL
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NVGS
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23.31
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66.91%
DLNG
Dynagas LNG Partners
3.85
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FLNG
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52.65%
Golar LNG Corporate Events
Golar LNG Posts Strong Q1 2026 Results, Targets Fourth FLNG Order and Launches Strategic Review
May 20, 2026
Golar LNG reported interim results for the quarter ended March 31, 2026, showing a sharp improvement in profitability and scale versus a year earlier, with net income attributable to the company rising to $84 million, total operating revenues more...
Golar LNG Declares $0.25 Per Share Dividend for Q1 2026
May 20, 2026
On May 20, 2026, Golar LNG disclosed that its board has approved a cash dividend of $0.25 per share following the release of its first-quarter 2026 report, reinforcing the company’s practice of returning capital to shareholders. The dividend...
Golar LNG Confirms Board, Auditor and 2026 Director Fees at AGM
May 19, 2026
Golar LNG Limited held its 2026 Annual General Meeting in Hamilton, Bermuda on May 19, 2026, where shareholders reviewed the audited consolidated financial statements for the year ended December 31, 2025. The meeting also confirmed the companyR...
Golar LNG Sets May 20, 2026 Webcast for Q1 Results
Apr 7, 2026
Golar LNG Limited said on April 7, 2026, that it will publish its first-quarter 2026 financial results before the U.S. market opens on Wednesday, May 20, 2026. The company will host a webcast and teleconference at 08:00 a.m. Eastern Time (1:00 p.m...
Golar LNG Publishes 2026 AGM Notice and 2025 Annual Report Ahead of May Meeting
Apr 3, 2026
On April 2, 2026, Golar LNG announced that materials for its 2026 Annual General Meeting, scheduled for May 19, 2026, are now available to shareholders. The documents, including the formal meeting notice and the company’s 2025 Annual Report ...
Golar LNG Files 2025 Form 20-F Annual Report with U.S. SEC
Mar 26, 2026
Golar LNG Limited has filed its Form 20-F annual report for the year ended December 31, 2025, with the U.S. Securities and Exchange Commission, the company announced on March 26, 2026. The filing, which fulfills its U.S. reporting obligations, is ...
Golar LNG Sets Date and Record Date for 2026 Annual General Meeting
Mar 26, 2026
On March 26, 2026, Golar LNG Limited announced that it will hold its 2026 Annual General Meeting in Hamilton, Bermuda, on Tuesday, May 19, 2026. The company set April 6, 2026, as the record date for determining shareholders eligible to vote at the...
Golar LNG Launches Strategic Review, Hires Goldman Sachs to Explore Value-Boosting Options
Mar 26, 2026
On March 25, 2026, Golar LNG Limited announced that its board has launched a formal strategic review aimed at accelerating its FLNG growth pipeline and maximizing stakeholder value, following its recent transition into a high-growth, pure-play FLN...
Golar LNG Declares $0.25 Dividend Following Q4 2025 Results
Feb 25, 2026
On February 25, 2026, Golar LNG declared a cash dividend of $0.25 per share following its fourth-quarter 2025 report, underscoring ongoing capital returns to shareholders. The dividend will be paid in U.S. dollars on or around March 18, 2026, with...
Golar LNG Posts Record 2025 on FLNG Outperformance and Locks In 20-Year Argentina Deal
Feb 25, 2026
Golar LNG reported preliminary results for the fourth quarter and full year 2025 on February 25, 2026, highlighting a sharp acceleration in growth. Net income attributable to Golar rose to $10 million in Q4 2025 and $66 million for 2025, with tota...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.