Golar LNG
GLNG on Nasdaq. Water transportation. Market value $5.0bn.
This company reports once a year (it is based outside the US), so every figure comes from its annual report for the year to December 2025.
Cash flow or capital spending isn't reported, so free cash flow is unknown.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Industrials stocks that passed both tests
This is not advice. Check the numbers below.
We could not compute this from the filings.
You pay 66.6 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 2 cents a year. Above 10 is good.
Quality score: 68 of 100. Price score: 23 of 100. Our list needs 70 on quality and 60 on price.
$49.74 a share, 42% above its 1-year low
Over the past year the price has ranged from $35.02 to $57.79.
Prices from Monday’s close (5 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $260m | $268m | $298m | $260m | $394m |
| Operating margin | |||||
| Operating margin | 117.8% | 195.7% | 5.3% | 23.9% | 25.3% |
| Debt to equity | |||||
| Debt to equity | 0.94 | 0.48 | 0.59 | 0.72 | 1.50 |
| Shares outstanding | |||||
| Shares outstanding | 0.11bn | 0.11bn | 0.10bn | 0.10bn | 0.10bn |
Health checks
- Free cash flow positiveNot enough data
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)Not enough data
- Profit backed by cash (accruals)Not enough data
- Debt1.50× equity
- Revenue growth, five yearsSlow, 8.5% a year
- Buying back its own sharesYes, 6% fewer since 2021
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 26 March 2026
- Next quarterly (estimated, 10-Q)
- n/a
Who owns it
5 long-term investors we follow own it, up from 4 last quarter. 313 funds in all.
- First Manhattan Co.First Manhattan partners
- Value
- $234,248
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Sachem Head CapitalScott Ferguson | $180m | 3.7% | New |
| First Eagle Investment ManagementMatthew McLennan | $36m | <0.1% | Added |
| Hosking PartnersJeremy Hosking | $19m | 0.6% | Cut |
| Royce & AssociatesChuck Royce | $2m | <0.1% | Cut |
| First Manhattan Co.First Manhattan partners | $234,248 | <0.1% |
Largest holders overall
- Naria$513m
- Rubric Capital Management LP$457m
- T. Rowe Price Investment Management$314mAdded
- BlackRock$278mAdded
- Sachem Head Capital$180mNew
- Morgan Stanley$100mCut
- Invesco$100mAdded
- State Street$91m
- Rokos Capital Management LLP$90mAdded
- Wolf Hill Capital Management, LP$80mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
4 investors own more than 5%.
- Naria Inc.Passive investorat least 9.8%(filed with 1 related holder)Since 20 May 2025
What they said
Each of the Reporting Persons reports that neither it nor, to its knowledge, any of the other persons named in Item 2 of this Schedule 13D, currently has any plan or proposal which relates to, or may result in, any of the matters listed in Items 4(a)-(j) of this Schedule 13D,…
Read the filing - Rubric Capital Management LPPassive investorat least 8.6%+1.2 pts(filed with 1 related holder)Since 31 March 2025
- T. Rowe Price Investment Management, Inc.Passive investor6.2%Since 30 June 2026
- BlackRock, Inc.Passive investor5.2%+0.3 ptsSince 30 June 2026
- Morgan StanleyPassive investorSold down below 5%Since 30 June 2025
- TOMS Capital Investment Management LPPassive investorSold down below 5%Since 30 June 2026
- Millennium Management LLCPassive investorSold down below 5%Since 31 March 2025
| Holder | Stake | Since | |
|---|---|---|---|
Naria Inc. Passive investor | at least 9.8% (filed with 1 related holder) | 20 May 2025 | What they saidEach of the Reporting Persons reports that neither it nor, to its knowledge, any of the other persons named in Item 2 of this Schedule 13D, currently has any plan or proposal which relates to, or may result in, any of the matters listed in Items 4(a)-(j) of this Schedule 13D,… Read the filing |
Rubric Capital Management LP Passive investor | at least 8.6%+1.2 pts (filed with 1 related holder) | 31 March 2025 | |
T. Rowe Price Investment Management, Inc. Passive investor | 6.2% | 30 June 2026 | |
BlackRock, Inc. Passive investor | 5.2%+0.3 pts | 30 June 2026 | |
Morgan Stanley Passive investor | Sold down below 5% | 30 June 2025 | |
TOMS Capital Investment Management LP Passive investor | Sold down below 5% | 30 June 2026 | |
Millennium Management LLC Passive investor | Sold down below 5% | 31 March 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
We have no insider filings for this company yet.
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
Golar LNG doesn’t file a US annual report (10-K), so we haven’t checked it.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- It isn't cheap on profits: 66.6× operating profit.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.