Saturday 17 October 2026
Export BWLP’s income statement to Excel — free account
BW LPG Limited
BWLP Energy Oil & Gas Midstream
BW LPG Limited’s revenue for fiscal 2025 (year ended December 2025) was $3.6 billion, up 0.52% from fiscal 2024. In the quarter to June 2026, revenue fell 3.06%, EPS grew 243.5%, free cash flow grew 1,336.3% and total debt fell 18.6%, each against the same quarter a year earlier.
24.70
0.22
+0.90%
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Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 2.32 | 3.73 | 3.77 | 3.75 | 2.60 | 4.45 | 4.92 | 6.78 | 9.95 | 7.86 |
Analyst estimates 2026–2028 Powerpack |
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| High | 8.40 | 5.20 | 4.72 | 8.53 | 8.99 | 8.11 | 9.12 | 15.75 | 22.31 | 16.60 | |||||
| People | |||||||||||||||
| People | Employees | — | — | — | — | — | — | — | 1,546 | 1,429 | 1,444 | ||||
| Revenue/emp, $m | — | — | — | — | — | — | — | 1.91 | 2.49 | 2.48 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | 2,947 | 3,564 | 3,582 | ||||
| Gross margin, % | — | — | — | — | — | — | — | 27.44 | 19.76 | 18.05 | |||||
| EBT | — | — | — | — | — | — | — | 504 | 425 | 304 | |||||
| EBT margin, % | — | — | — | — | — | — | — | 17.10 | 11.92 | 8.48 | |||||
| Net income | — | — | — | — | — | — | — | 504 | 425 | 304 | |||||
| Depreciation | — | — | — | — | — | — | — | 218 | 202 | 256 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | — | 22.37 | 26.67 | 23.66 | ||||
| Earnings | — | — | — | — | — | — | — | 3.74 | 2.65 | 1.60 | |||||
| Cash flow | — | — | — | — | — | — | — | 3.90 | 5.61 | 3.75 | |||||
| Capex | — | — | — | — | — | — | — | (0.89) | (4.02) | (0.38) | |||||
| Free cash flow | — | — | — | — | — | — | — | 3.01 | 1.58 | 3.37 | |||||
| Book value | — | — | — | — | — | — | — | 12.04 | 14.50 | 12.72 | |||||
| Shares, m | — | — | — | — | — | — | — | 132 | 134 | 151 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | 4.09 | 4.27 | 8.19 | ||||
| P/S | — | — | — | — | — | — | — | 0.68 | 0.43 | 0.55 | |||||
| P/B | — | — | — | — | — | — | — | 1.27 | 0.78 | 1.03 | |||||
| EV/Sales | — | — | — | — | — | — | — | 0.74 | 0.61 | 0.73 | |||||
| EV/FCF | — | — | — | — | — | — | — | 5.49 | 10.22 | 5.15 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | — | 513 | 749 | 567 | ||||
| Capex | — | — | — | — | — | — | — | (117) | (538) | (57) | |||||
| Free cash flow | — | — | — | — | — | — | — | 397 | 212 | 510 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | — | 223 | 68 | 223 | ||||
| Total debt | — | — | — | — | — | — | — | 491 | 1,003 | 926 | |||||
| Net debt | — | — | — | — | — | — | — | 163 | 646 | 645 | |||||
| Shareholders’ equity | — | — | — | — | — | — | — | 1,586 | 1,937 | 1,926 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | — | 0.00 | 12.13 | 7.49 | ||||
| ROIC | — | — | — | — | — | — | — | 18.72 | 10.49 | 8.46 | |||||
| ROE | — | — | — | — | — | — | — | 0.00 | 20.11 | 12.55 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
BW LPG Limited vs peers in Oil & Gas Midstream (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| CMBT CMB.TECH nv | $5.2B | 3.6× | 5.4× | +519.15% (above 0%: growing) | n/m | +451.20% (above 0%: growing) | 71.02% | 54.45% | Compare |
| GLNG Golar LNG Limited | $4.6B | 28.6× | 46.3× | +100.86% (above 0%: growing) | −30.19% (below 0%: shrinking) | +33.24% (above 0%: growing) | 67.68% | 49.39% | Compare |
| STNG Scorpio Tankers Inc. | $4.2B | 4.6× | 5.7× | +77.54% (above 0%: growing) | +432.70% (above 0%: growing) | +490.32% (above 0%: growing) | 80.00% | 97.45% | Compare |
| TRMD TORM PLC | $4.0B | 6.2× | — | +110.28% (above 0%: growing) | +451.67% (above 0%: growing) | +48.55% (above 0%: growing) | 89.05% | 53.58% | Compare |
| DHT DHT Holdings, Inc. | $3.8B | 8.0× | 4.7× | +122.12% (above 0%: growing) | +251.43% (above 0%: growing) | +122.28% (above 0%: growing) | 83.01% | 71.31% | Compare |
| SUNC SunocoCorp LLC | $3.7B | — | — | — | — | +1,501.72% (above 0%: growing) | 10.27% | 4.09% | Compare |
| BWLP BW LPG Limited | $3.7B | 8.4× | — | −3.06% (below 0%: shrinking) | +243.48% (above 0%: growing) | +1,336.28% (above 0%: growing) | 23.60% | 13.87% | |
| EE Excelerate Energy, Inc. | $3.7B | 22.3× | 20.9× | +60.97% (above 0%: growing) | +153.33% (above 0%: growing) | −366.08% (below 0%: shrinking) | 41.87% | 24.57% | Compare |
| TNK Teekay Tankers Ltd. | $3.4B | 5.7× | 4.6× | +62.97% (above 0%: growing) | +258.56% (above 0%: growing) | +278.92% (above 0%: growing) | 59.49% | 58.49% | Compare |
| Median of peers | $3.9B | 6.2× | 5.5× | +100.86% | +255.00% | +200.60% | 69.35% | 54.02% |
BW LPG Limited (BWLP) key facts
- Concern: Net income was $303.9 million, or $1.60 per share (basic), a net margin of 6.76%.
- Strength: BW LPG Limited’s revenue for fiscal 2025 (year ended December 2025) was $3.6 billion, up 0.52% from fiscal 2024.
- BW LPG Limited (BWLP) is an Oil & Gas Midstream company in the Energy sector, listed on the New York Stock Exchange.
- As of October 16, 2026, BWLP traded at $24.70, a market capitalization of $3.7 billion.
- At that price the stock trades at 8.4× trailing-twelve-month earnings and 1.1× sales.
- BW LPG Limited pays an annual dividend of $2.56 per share, a yield of 10.4%, with a payout ratio of 87.1%.
- Return on equity was 12.6% and debt-to-equity 0.42.
- Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 2.83 (grey zone) for fiscal 2025.