A closed strait has become a major revenue source for BW LPG by forcing longer shipping routes and higher tanker demand. Strait closure delivers sustained earnings growth and stronger market position for BW LPG.
| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | — | — | — | — | — | — | — | — | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2026 | 2.16 |
—
—
—
|
| 2025 | 1.32 |
—
—
—
—
|
| 2024 | 2.90 |
—
—
—
—
|
| 2023 | 3.08 |
—
—
—
—
|
| 2022 | 0.94 |
—
—
—
—
|
| 2021 | 0.72 |
—
—
—
—
|
| 2020 | 0.92 |
—
—
—
—
|
| 2019 | 0.43 |
—
—
|
| 2016 | 1.58 |
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 327.90 | 357.02 | 281.27 | 354.39 |
| Receivables | 317.92 | 211.20 | 238.43 | 433.60 |
| Inventory | 188.59 | 76.71 | 123.89 | 174.30 |
| Other | — | — | — | — |
| 878.71 | 677.93 | 643.58 | 962.28 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 265.10 | 169.06 | 207.77 | 325.33 |
| ST’ Debt | 212.43 | 230.34 | 122.71 | 202.64 |
| Other | 90.21 | 25.53 | 24.40 | 60.37 |
| 655.34 | 610.11 | 420.70 | 668.72 |
| 10y | 5y | 3y | |
| Sales | — | — | — |
| Cash Flow | — | — | — |
| Earnings | — | — | — |
| Book Value | — | — | — |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 838.89 | 1,011.96 | — | — |
—
|
| ’25 | 862.07 | 1,043.90 | 943.76 | 732.40 |
3,582.14
|
| ’24 | 1,038.49 | 876.49 | 805.02 | 843.75 |
3,563.75
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 165.48 | 205.88 | — | — |
—
|
| ’25 | 166.24 | 94.72 | 128.80 | 177.64 |
567.40
|
| ’24 | 405.58 | 52.85 | 54.52 | 236.20 |
749.14
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 154.03 | 192.62 | — | — |
—
|
| ’25 | 154.99 | 13.41 | 117.14 | 224.71 |
510.25
|
| ’24 | 468.44 | 53.26 | 54.70 | (364.82) |
211.58
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 1.08 | 0.79 | — | — |
—
|
| ’25 | 0.30 | 0.23 | 0.38 | 0.69 |
1.60
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | 4.92 | 6.78 | 9.95 | 7.86 | — | — | — |
Low Price
|
| ‡‡‡ | ‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 9.12 | 15.75 | 22.31 | 16.60 | — | — | — |
High Price
|
| — | — | — | — | — | — | — | 1,546 | 1,429 | 1,444 | — | — | — |
Employees
|
| — | — | — | — | — | — | — | 1.91 | 2.49 | 2.48 | — | — | — |
Revenue/Emp
|
| — | — | — | — | — | — | — | 2,947.34 | 3,563.75 | 3,582.14 | — | — | — |
Revenue
|
| — | — | — | — | — | — | — | 27.44% | 19.76% | 18.05% | — | — | — |
Gross Margin
|
| — | — | — | — | — | — | — | 503.96 | 424.96 | 303.91 | — | — | — |
EBT
|
| — | — | — | — | — | — | — | 17.10% | 11.92% | 8.48% | — | — | — |
EBT Margin
|
| — | — | — | — | — | — | — | 503.96 | 424.96 | 303.91 | — | — | — |
Net Income
|
| — | — | — | — | — | — | — | 217.88 | 202.18 | 255.93 | — | — | — |
Depreciation
|
| — | — | — | — | — | — | — | 22.37 | 26.67 | 23.66 | — | — | — |
Revenue/Sh
|
| — | — | — | — | — | — | — | — | 2.65 | 1.60 | — | — | — |
Earnings/Sh
|
| — | — | — | — | — | — | — | 3.90 | 5.61 | 3.75 | — | — | — |
Cash Flow/Sh
|
| — | — | — | — | — | — | — | (0.89) | (4.02) | (0.38) | — | — | — |
Capex/Sh
|
| — | — | — | — | — | — | — | 3.01 | 1.58 | 3.37 | — | — | — |
Free CF/Sh
|
| — | — | — | — | — | — | — | 12.04 | 14.50 | 12.72 | — | — | — |
Book Value/Sh
|
| — | — | — | — | — | — | — | 131.76 | 133.61 | 151.41 | — | — | — |
Shares
|
| — | — | — | — | — | — | — | 4.27 | 4.27 | 8.19 | — | — | — |
PE Ratio
|
| — | — | — | — | — | — | — | 0.68 | 0.43 | 0.55 | — | — | — |
PS Ratio
|
| — | — | — | — | — | — | — | 1.27 | 0.78 | 1.03 | — | — | — |
PB Ratio
|
| — | — | — | — | — | — | — | 0.74 | 0.61 | 0.73 | — | — | — |
EV/Sales
|
| — | — | — | — | — | — | — | 5.49 | 10.22 | 5.15 | — | — | — |
EV/FCF
|
| — | — | — | — | — | — | — | 513.36 | 749.14 | 567.40 | — | — | — |
Op' Cash Flow
|
| — | — | — | — | — | — | — | (116.68) | (537.56) | (57.15) | — | — | — |
Capex
|
| — | — | — | — | — | — | — | 396.68 | 211.58 | 510.25 | — | — | — |
FCF
|
| — | — | — | — | — | — | — | 223.37 | 67.82 | 222.89 | — | — | — |
Working Cap'
|
| — | — | — | — | — | — | — | 490.71 | 1,002.60 | 925.94 | — | — | — |
Total Debt
|
| — | — | — | — | — | — | — | 162.81 | 645.58 | 644.67 | — | — | — |
Net Debt
|
| — | — | — | — | — | — | — | 1,586.16 | 1,937.49 | 1,925.55 | — | — | — |
Sh' Equity
|
| — | — | — | — | — | — | — | 0.00% | 12.13% | 7.49% | — | — | — |
ROA
|
| — | — | — | — | — | — | — | 18.72% | 10.49% | 8.46% | — | — | — |
ROIC
|
| — | — | — | — | — | — | — | 0.00% | 20.11% | 12.55% | — | — | — |
ROE
|
BW LPG (BWLP), a major player in the very large gas carrier (VLGC) market, has surged from pandemic lows around $3 to 2024 highs over 40% above recent levels, riding post-COVID energy demand and the Russia-Ukraine war’s boost to LPG shipping rates. Revenue jumped 21% to $3.56 billion in 2024, thanks to sky-high charter rates and a tight vessel supply. But this analyst turns contrarian, warning the rally masks serious cracks: margins are eroding fast (gross margins down 28% relatively to 19.8%), debt has doubled to $1 billion, and free cash flow cratered 63% after massive capex spending.
Operating cash flow did swell 46%, but profitability metrics like EBT fell 16%, ROIC halved to 10.5%, and valuations look suspiciously cheap—PE at 4.3x—with no insider buying to signal confidence. Consensus targets suggest mild 9% upside on average, but with 40+ newbuilds looming in 2025-2027 and blank future forecasts, the boom could bust like past cycles, potentially dragging shares 40-50% lower if rates halve.
Is BWLP a screaming bargain or a value trap waiting to snap? Dive into the full analysis for the numbers, charts, and why insiders’ silence screams caution in this cyclical shipping showdown.
Keep track of companies that you follow and research.
Full access to our data with predictions and indicators that we calculate daily.
Full access to our screener with tons of custom values and customizable email notifications.
Excel export of financials and screeners you define and save.