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Dorian LPG Ltd.

LPG Energy Oil & Gas Midstream

Dorian LPG Ltd.’s revenue for fiscal 2026 (year ended March 2026) was $481.5 million, up 36.3% from fiscal 2025.

Revenue
+78.4%
EPS
+285.4%
Free cash flow
+518.1%
Total debt
−9.32%

Quarter to September 2026, against a year earlier

46.81 0.73 +1.58%
Market cap
$2.0B
P/E
4.1×
Fwd P/E
4.7×
Dividend yield
2.88%
F-score
7/9
Altman Z
2.30
Beneish M
−1.82
Dividend safety
40/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.41
Sold, $m 12.15
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — 1 — — — — — — — — — —
Sell — 1 2 — 1 1 2 — 1 7 — —
Insider Ownership 13.79%

Capital & Financial Ratios $m

Size
Market Cap 1,970.00
Revenue ttm 682.47
Net income ttm 480.34
Free cash flow ttm 398.28
Net debt Q (101.43)
Valuation
P/E 4.15
Forward P/E 4.74
Price / sales 2.93
Forward P/S Powerpack
Price / FCF 5.15
Price / book 1.42
Financial health
Current ratio Q 8.20 (at or above 1.5: strong)
Debt / equity Q 0.34 (at or below 0.5: strong)
Interest coverage Q 25.08
Growth
Revenue growth Q +78.41% (above 0%: growing)
Operating income growth Q +263.06% (above 0%: growing)
EPS, this year +136.75% (at or above 15%: strong)
EPS, next year A −56.85% (below 0%: weak)
Revenue, next year A +43.51% (at or above 10%: strong)
EPS, past 5 yrs +19.54% (at or above 15%: strong)
EPS, next 5 yrs A −12.68% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.8×, against a ten-year median of 3.9×; over the ten years it ranged from 2.5× in 2024 to 7.8× in 2018.
P/E against its own 10 years 11.43%
10-year low 10-year high
P/S against its own 10 years 79.18%
10-year low 10-year high
P/B against its own 10 years 88.38%
10-year low 10-year high
EV/Sales against its own 10 years 4.29%
10-year low 10-year high
EV/FCF against its own 10 years 7.59%
10-year low 10-year high

Dividends

Yield
2.88%
Annual rate
1.35
Payout ratio
12.0%
  1. 1.25 ’25
  2. 2.85 ’26e +128
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 299 317 327 579
Receivables 53 49 99 163
Inventory 2 3 2 2
Other — — — 79
369 382 450 845
2024 2025 2026 Q'26
Payables 10 12 8 9
ST’ Debt 54 55 100 44
Other — — — —
102 108 169 103

Compound Annual Growth %

10y 5y 3y
Sales 5.23% 8.79% 7.30%
Cash Flow 3.36% 4.26% (2.11%)
Earnings 4.09% 15.91% 3.94%
Book Value 1.46% 3.76% 9.24%

Earnings Trends EPS, adjusted, against the consensus

Q1 FY26 Estimate 0.61 Actual 0.27

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY24 1.81 1.91 Beat by 0.10
Q2 FY25 0.52 0.35 Miss by 0.17
Q3 FY25 0.56 0.43 Miss by 0.13
Q1 FY26 0.61 0.27 Miss by 0.34

EPS $

Jun Sep Dec Mar Year
’26 3.24 4.98 — — —
’26 0.24 1.30 1.11 1.90 4.54
’25 1.25 0.22 0.50 0.19 2.14
’24 1.28 1.89 2.47 1.96 7.60
’23 0.62 0.51 1.27 1.89 4.29
’22 0.14 0.35 0.41 0.88 1.78
’21 0.24 0.01 0.71 0.93 1.86
Fiscal quarters ending in the months shown.

Revenue $m

Jun Sep Dec Mar Year
’26 188 221 — — —
’26 84 124 120 153 482
’25 114 82 81 76 353
’24 112 145 163 141 561
’23 77 76 103 134 390
’22 63 63 69 80 274
’21 73 55 88 100 316
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Jun Sep Dec Mar Year
’26 30 — — — —
’26 1 46 81 82 210
’25 41 57 24 50 173
’24 63 100 71 154 388
’23 34 49 43 98 224
’22 38 36 15 30 119
’21 53 4 31 83 171
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Jun Sep Dec Mar Year
’26 111 205 — — —
’26 (2) 33 67 18 116
’25 40 56 21 37 154
’24 61 95 70 129 356
’23 25 49 42 39 155
’22 28 76 5 76 186
’21 49 0 29 83 161
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to March

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Sep ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 167 159 158 333 316 274 390 561 353 482 682 +12.5% 691 410 345 (10.5%)
Gross margin, % 58.75 58.25 56.60 77.59 74.16 71.36 80.73 85.17 74.63 82.03 88.08 +23.3 pt
EBT (1) (20) (51) 112 93 72 172 307 90 194 480 n/m
EBT margin, % (0.86) (12.80) (32.24) 33.54 29.30 26.23 44.24 54.83 25.52 40.22 70.38 +41.1 pt
Net income (1) (20) (51) 112 93 72 172 307 90 194 480 n/m
Per share, $
Per share, $ Revenue 3.10 2.95 2.90 6.19 6.35 6.82 9.74 13.92 8.39 11.32 15.99 +15.5%
Earnings (0.03) (0.38) (0.93) 2.08 1.86 1.79 4.31 7.63 2.14 4.55 11.28 n/m
Cash flow 0.96 1.06 0.16 3.14 3.43 2.95 5.60 9.64 4.11 4.94 9.33 +19.9%
Capex (0.04) (0.01) (0.07) (0.37) (0.19) 1.67 (1.72) (0.82) (0.45) (2.21) 0.00 +58.2%
Free cash flow 0.93 1.05 0.09 2.77 3.24 4.63 3.88 8.83 3.66 2.74 9.33 +12.8%
Book value 18.05 17.75 16.74 18.13 19.04 22.89 21.83 25.41 24.83 26.79 33.05 +4.5%
Shares, m 54 54 55 54 50 40 40 40 42 43 43 (2.6%)
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 4.19 6.95 8.05 4.63 5.36 10.34 7.50 4.15 4.7
P/S 3.40 2.56 2.26 1.41 2.07 2.12 2.05 2.94 2.66 3.02 2.93 2.4
P/B 0.58 0.43 0.39 0.48 0.69 0.63 0.91 1.61 0.90 1.28 1.42 0.8
EV/Sales 7.78 6.68 6.46 3.11 3.67 3.68 3.35 3.48 3.33 3.50 2.78 4.5
EV/FCF 25.95 18.73 210.00 6.96 7.20 5.42 8.42 5.49 7.64 14.51 4.89 31.0
Cash, $m
Cash, $m Operating cash flow 52 57 9 169 171 119 224 388 173 210 398 +16.8%
Capex (2) 0 (4) (20) (10) 67 (69) (33) (19) (94) (10) +54.1%
Free cash flow 50 57 5 149 161 186 155 356 154 116 398 +9.8%
Balance, $m
Balance, $m Working capital (22) 53 3 55 71 213 142 267 274 281 742 n/m
Net debt 733 656 665 568 507 426 509 306 236 233 (101) (12.0%)
Shareholders’ equity 976 959 913 977 947 920 874 1,024 1,046 1,139 1,411 +1.7%
Returns, %
Returns, % ROA (0.08) (1.17) (3.03) 6.78 5.69 4.51 10.40 17.34 4.99 10.61 25.19 +10.7 pt
ROIC 0.51 0.15 (0.32) 6.51 4.99 4.29 8.97 15.46 5.49 9.57 23.55 +9.1 pt
ROE (0.15) (2.11) (5.44) 11.84 9.62 7.71 19.22 32.41 8.71 17.73 38.78 +17.9 pt
People
People Employees 69 568 564 585 519 541 593 577 587 602 — +27.2%
Revenue/emp, $m 2.43 0.28 0.28 0.57 0.61 0.51 0.66 0.97 0.60 0.80 — (11.6%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Mar 2026 · latest quarter Sep 2026 · fundamentals updated 6 Nov 2026

Dorian LPG Ltd. 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
TNK Teekay Tankers Ltd. $2.8B 5.0× 4.1× +62.97% (above 0%: growing) +258.56% (above 0%: growing) +278.92% (above 0%: growing) 59.49% 58.49% Compare
LPG Dorian LPG Ltd. $2.0B 4.1× 4.7× +78.41% (above 0%: growing) +285.38% (above 0%: growing) +518.05% (above 0%: growing) 91.30% 97.34%
NGL NGL Energy Partners LP $1.8B — (loss-making) 11.9× +59.12% (above 0%: growing) +1,100.00% (above 0%: growing) −386.50% (below 0%: shrinking) 30.87% 14.68% Compare
GEL Genesis Energy, L.P. $1.5B 67.7× — (loss-making) +40.98% (above 0%: growing) n/m +2,417.50% (above 0%: growing) 32.06% 19.82% Compare
GLP Global Partners LP $1.4B 8.9× 7.9× +42.39% (above 0%: growing) +240.00% (above 0%: growing) +88,590.38% (above 0%: growing) 4.43% 1.25% Compare
FLNG Flex LNG Ltd. $1.4B 13.7× 12.1× +24.21% (above 0%: growing) +151.52% (above 0%: growing) +185.57% (above 0%: growing) 76.00% 55.68% Compare
NAT Nordic American Tankers Limited $1.4B 11.4× 10.1× +133.96% (above 0%: growing) n/m +197.49% (above 0%: growing) 83.25% 82.06% Compare
PBT Permian Basin Royalty Trust $1.3B 82.9× 21.9× +34.59% (above 0%: growing) +60.00% (above 0%: growing) — 100.00% 92.68% Compare
TEN Tsakos Energy Navigation Ltd $1.3B 4.6× 3.9× +54.37% (above 0%: growing) +556.72% (above 0%: growing) +185.92% (above 0%: growing) 62.31% 54.53% Compare
Median of peers $1.4B 11.4× 10.1× +48.38% +249.28% +197.49% 60.90% 55.11%

All 57 Oil & Gas Midstream stocks →

Pay and ownership Proxy statement filed 27 July 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2026 6.31m 7.06m 581.74
2025 5.30m 3.95m 348.16
2024 4.30m 5.90m 534.56
2023 2.59m 3.10m 240.28
2022 2.36m 2.45m 128.13

Ownership

Directors and executive officers, together 13.50%
Blackrock, Inc. 12.70%
John C. Hadjipateras 11.50%
Dimensional Fund Advisors LP 5.80%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Dorian LPG Ltd. (LPG) Latest News

6 Nov

Impact 3 · · GuruFocus.com
Impact 3 · · Simply Wall St.

5 Nov

Impact 4 · · The Motley Fool transcript
Impact 4 · · Business Wire
Impact 3 · · InvestorsHub

22 Oct

Impact 3 · · Simply Wall St.

7 Sep

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Impact 4 · · offshore-technology.com

4 Sep

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9 Aug

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8 Aug

Impact 3 · · MarketBeat

6 Aug

Impact 4 · · The Motley Fool transcript

5 Aug

Impact 4 · · Moby transcript
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30 Jul

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23 Jul

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16 Jul

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23 Jun

Impact 4 · · Business Wire

27 May

Impact 3 · · TheStreet

25 May

Impact 3 · · Simply Wall St.

22 May

Impact 3 · · Moby transcript

21 May

Impact 4 · · MarketBeat

20 May

Impact 4 · · GuruFocus.com transcript
Impact 4 · · The Motley Fool transcript
Impact 4 ·
Impact 3 · · MarketBeat transcript

7 May

Impact 4 · · Business Wire

30 Mar

Impact 3 · · Simply Wall St.
stockrow.com/LPG · Data as of Nov 6, 2026 · For information only; not investment advice. · © 2026 stockrow.com