Golar Lng Limited (GLNG)
NASDAQ:GLNG
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Golar LNG
(NASDAQ:GLNG)
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Rating:62Neutral
Price Target:
$59.00
â–²(13.81% Upside)
Action:ReiteratedDate:02/26/26
The score is anchored by mixed financials: earnings have improved, but rising leverage and deeply negative free cash flow weigh heavily. Technicals are supportive with price trending above key moving averages and positive momentum. Valuation is a key headwind due to a high P/E, partly offset by a moderate dividend. The earnings call adds upside on long-term contracted backlog and projected cash flow ramp, but near-term cash-flow timing and execution/commodity risks remain important.
Positive Factors
Long-duration contracted backlog
A ~$17 billion EBITDA backlog anchored by two 20-year Argentina contracts creates durable, long-dated revenue visibility once the fleet is deployed. This backlog materially de-risks future cash flow forecasts and underpins financing capacity and long-term project economics.
Negative Factors
Elevated leverage
Materially higher gross and net debt levels constrain financial flexibility and heighten refinancing and interest-rate vulnerability. Elevated leverage reduces the buffer for cost overruns or slower-than-expected cash flow ramp, increasing the likelihood of additional external funding needs during the buildout phase.
Read all positive and negative factors
Positive Factors
Negative Factors
Long-duration contracted backlog
A ~$17 billion EBITDA backlog anchored by two 20-year Argentina contracts creates durable, long-dated revenue visibility once the fleet is deployed. This backlog materially de-risks future cash flow forecasts and underpins financing capacity and long-term project economics.
Read all positive factors
Golar LNG (GLNG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.66B
Dividend Yield2.68%
Average Volume (3M)2.50M
Price to Earnings (P/E)57.4
Beta (1Y)1.13
Revenue Growth51.14%
EPS Growth33.78%
CountryUS
Employees474
SectorEnergy
Sector Strength52
IndustryOil & Gas Midstream
Share Statistics
EPS (TTM)0.64
Shares Outstanding101,589,270
10 Day Avg. Volume1,350,752
30 Day Avg. Volume2,504,373
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 Cap1.29
Enterprise Value/Revenue18.61
Enterprise Value/Gross Profit39.72
Enterprise Value/Ebitda38.62
Forecast
1Y Price Target
$57.00Price Target Upside9.95% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.8
Revenue Forecast (FY)$399.16M
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:Feb 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jun 02, 2026
Earnings Call Sentiment Positive
The earnings call emphasized a strong operational and commercial quarter with record execution: material backlog wins, clear path to significantly higher long-term EBITDA (~$800 million) and improved liquidity through financings. Key operational strengths include 100% Hilli uptime, Gimi producing above contracted volumes, progress on Mark II conversion, and confirmed yard pricing for growth designs. Management also highlighted active shareholder returns and multiple financing levers. Primary concerns discussed were near-term cash-flow timing before full Argentina operations, cost inflation for top-side equipment (and Mark III), execution risk on redeployment/conversion caps, debt levels and financing costs, and commodity-price exposure which can materially swing earnings. Overall, the positives (backlog, operational outperformance, financings, growth visibility and shareholder returns) substantially outweigh the manageable short-term risks and execution/market-valuation uncertainties.Positive Updates
Record Year of Execution & Backlog
Secured ~$14 billion in EBITDA backlog across two 20-year Argentina contracts during 2025; group adjusted EBITDA backlog stands at $17 billion before commodity and inflation adjustments. Management projects long-term adjusted EBITDA of ~ $800 million per year once fleet is fully delivered and under long-term contracts.
Negative Updates
Near-Term Cash-Flow Timing & Project Phasing
Management expects limited meaningful cash flow in 2026–2027 as Hilli exits its Cameroon contract for upgrades and Mark II is not yet operational; Board intends to delay speculative spend on new units (unit #4/#5) to align capex with expected strong cash flows from 2028.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Year of Execution & Backlog
Secured ~$14 billion in EBITDA backlog across two 20-year Argentina contracts during 2025; group adjusted EBITDA backlog stands at $17 billion before commodity and inflation adjustments. Management projects long-term adjusted EBITDA of ~ $800 million per year once fleet is fully delivered and under long-term contracts.
Read all positive updates
Company Guidance
Management guided that once the fleet is fully delivered and on long‑term charters Golar expects adjusted EBITDA to grow to about $800 million and free cash flow to reach roughly $500 million/year (≈$5/share) before commodity upside, with an EBITDA backlog of ~$17 billion (and ~$14 billion secured in 2025 for the two Argentina 20‑year contracts); near‑term cadence: Hilli’s Cameroon charter ends July 2026, yard work in Singapore and redeployment to start its Argentina charter in 2H‑2027 (expected to contribute $285 million/year, $5.7 billion over 20 years), Mark II is ~50% complete with $1.1 billion spent of a $2.2 billion conversion scope (equity‑funded), on budget and due for delivery YE‑2027/start of Argentina contract in 1H‑2028 (expected $400 million/year), and Gimi (70% ownership) is producing above contract and yields ~$150 million/year; other key metrics: Q4 adjusted EBITDA $91 million and FY adjusted EBITDA ~$265 million, cash ~$1.2 billion, gross debt ~$2.7 billion, net debt ~$1.5 billion (net debt/EBITDA ~3.4x when fully delivered), market cap ~$4.5 billion, ~101 million shares outstanding, 3.6 million shares repurchased in 2025 (Q4 buyback 1.1 million at $37.76 avg), remaining buyback capacity ~$190 million, recent financings include a $1.2 billion bank facility and a $500 million 7.5% bond, SESA investments ≈$500 million-to-date, and commodity exposure that adds ≈$100 million of EBITDA for every $1/MMBtu above $8 FOB Argentina (≈$28 million downside per $1 below SESA breakeven), with illustrative upside of ~$2.7 billion/year at 2022 price levels or ~+$200 million/year at current prices.Golar LNG Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
56
Neutral
Cash Flow
44
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 393.52M | 260.37M | 298.43M | 267.74M | 260.27M |
| Gross Profit | 184.37M | 85.26M | 154.80M | 140.78M | 139.88M |
| EBITDA | 184.80M | 146.96M | 53.21M | 1.08B | 29.54M |
| Net Income | 65.68M | 50.84M | -46.82M | 674.60M | -161.09M |
Balance Sheet | |||||
| Total Assets | 5.33B | 4.37B | 4.08B | 4.28B | 4.95B |
| Cash, Cash Equivalents and Short-Term Investments | 1.18B | 566.38M | 679.23M | 1.10B | 716.10M |
| Total Debt | 2.76B | 1.46B | 1.22B | 1.19B | 1.63B |
| Total Liabilities | 3.26B | 2.00B | 1.48B | 1.38B | 2.77B |
| Stockholders Equity | 1.84B | 2.01B | 2.07B | 2.50B | 1.73B |
Cash Flow | |||||
| Free Cash Flow | -424.70M | -120.31M | -189.96M | 31.46M | 24.85M |
| Operating Cash Flow | 428.67M | 318.24M | 135.25M | 298.88M | 238.33M |
| Investing Cash Flow | -813.20M | -416.98M | -131.71M | 1.07B | -74.35M |
| Financing Cash Flow | 883.36M | 43.85M | -244.95M | -691.64M | -51.61M |
Golar LNG Technical Analysis
Neutral
51.84
Price Trends
48.38
Positive
43.29
Positive
41.59
Positive
Market Momentum
1.38
Positive
50.59
Neutral
28.36
Neutral
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 53.82, above the 50-day MA of 48.38, and above the 200-day MA of 41.59, indicating a neutral trend. The MACD of 1.38 indicates Positive momentum. The RSI at 50.59 is Neutral, neither overbought nor oversold. The STOCH value of 28.36 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
81 Outperform | $2.79B | 3.85 | 18.37% | 3.72% | -16.26% | -11.19% | |
75 Outperform | $142.25M | 2.24 | 13.16% | 5.08% | 0.14% | 24.81% | |
68 Neutral | $1.43B | 11.65 | 8.19% | 1.27% | 3.58% | 23.88% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
64 Neutral | $2.87B | 20.58 | 1917.10% | 9.78% | 13.04% | 6.21% | |
62 Neutral | $5.66B | 57.40 | 3.45% | 2.68% | 51.14% | 33.78% | |
57 Neutral | $1.72B | 18.04 | 9.96% | 12.31% | -2.44% | -36.70% |
* Energy Sector Average
GLNG
Golar LNG
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DKL
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DLNG
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3.91
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FLNG
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32.32
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51.98%
Golar LNG Corporate Events
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.