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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. In the quarter to June 2026, revenue grew 123.1%, EPS grew 1,254.2%, free cash flow grew 5,051.2% and total debt fell 5.94%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

53.52 0.16 −0.30%
Market cap
$2.3B
P/E
7.1×
Fwd P/E
5.8×
Dividend yield
2.52%
F-score
7/9
Altman Z
2.30
Beneish M
−1.82
Dividend safety
40/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.41
Total sells 12.15
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — 1 — — — — — — — — —
Sell — — 1 2 — 1 1 2 — 1 7 —
Insider Ownership 13.51%

Capital & Financial Ratios $m

Market Cap 2,300.00
Revenue 585.18
Net Income 321.87
Free Cash Flow 229.56
Net Debt 165.40
Current Ratio 3.26 (at or above 1.5: strong)
Debt/Equity 0.41 (at or below 0.5: strong)
P/E ratio 7.07
Fwd P/E 5.83
P/S ratio 3.89
P/B ratio 1.84
Past 5Y EPS Growth 19.54% (at or above 15%: strong)
This Y EPS Growth 84.83% (at or above 15%: strong)
Next Y EPS Growth (48.38%) (below 0%: weak)
Next Y revenue growth 30.82% (at or above 10%: strong)
Next 5Y EPS Growth (12.70%) (below 0%: weak)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.2×, against a ten-year median of 4.0×; over the ten years it ranged from 2.5× in 2024 to 7.8× in 2018.
P/E against its own 10 years 59.62%
10-year low 10-year high
P/S against its own 10 years 97.20%
10-year low 10-year high
P/B against its own 10 years 97.79%
10-year low 10-year high
EV/Sales against its own 10 years 58.42%
10-year low 10-year high
EV/FCF against its own 10 years 56.97%
10-year low 10-year high

Dividends

Payout Ratio 0.18
Annual Dividend Rate 1.35
Annual Dividend Yield 2.52%
total individual payouts
2029 Powerpack
2028 Powerpack
2027 Powerpack
2026 2.85
0.70
1.00
1.00
2025 3.13
0.70
0.50
0.60
0.65
2024 0.00
1.00
1.00
1.00
1.00
2023 0.00
1.00
1.00
1.00
1.00
2022 0.00
1.00
2.50
1.00
1.00
2021 0.00
1.00
2020 Powerpack
2019 Powerpack
2018 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 299 317 327 342
Receivables 53 49 99 194
Inventory 2 3 2 3
Other — — — 156
369 382 450 719
2024 2025 2026 Q'26
Payables 10 12 8 9
ST’ Debt 54 55 100 159
Other — — — —
102 108 169 221

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%

Revenue $m

Jun Sep Dec Mar Year
’26 188 — — — —
’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 — — — —
’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.

EPS $

Jun Sep Dec Mar Year
’26 3.24 — — — —
’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.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to March

Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 2027e 2028e 2029e
Price, $
Price, $ Low 6.20 5.60 5.26 6.08 10.82 10.77 15.81 22.46 16.66 24.05

Analyst estimates 2027–2029

Powerpack
High 12.50 8.80 15.58 16.68 15.68 21.07 47.19 51.66 32.79 59.97
People
People Employees 69 568 564 585 519 541 593 577 587 602
Revenue/emp, $m 2.43 0.28 0.28 0.57 0.61 0.51 0.66 0.97 0.60 0.80
Income, $m
Income, $m Revenue 167 159 158 333 316 274 390 561 353 482
Gross margin, % 58.75 58.25 56.60 77.59 74.16 71.36 80.73 85.17 74.63 82.03
EBT (1) (20) (51) 112 93 72 172 307 90 194
EBT margin, % (0.86) (12.80) (32.24) 33.54 29.30 26.23 44.24 54.83 25.52 40.22
Net income (1) (20) (51) 112 93 72 172 307 90 194
Depreciation 69 73 68 71 82 82 80 70 71 73
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
Earnings (0.03) (0.38) (0.93) 2.08 1.86 1.79 4.31 7.63 2.14 4.55
Cash flow 0.96 1.06 0.16 3.14 3.43 2.95 5.60 9.64 4.11 4.94
Capex (0.04) (0.01) (0.07) (0.37) (0.19) 1.67 (1.72) (0.82) (0.45) (2.21)
Free cash flow 0.93 1.05 0.09 2.77 3.24 4.63 3.88 8.83 3.66 2.74
Book value 18.05 17.75 16.74 18.13 19.04 22.89 21.83 25.41 24.83 26.79
Shares, m 54 54 55 54 50 40 40 40 42 43
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 4.19 6.95 8.05 4.63 5.36 10.34 7.50
P/S 3.40 2.56 2.26 1.41 2.07 2.12 2.05 2.94 2.66 3.02
P/B 0.58 0.43 0.39 0.48 0.69 0.63 0.91 1.61 0.90 1.28
EV/Sales 7.78 6.68 6.46 3.11 3.67 3.68 3.35 3.48 3.33 3.50
EV/FCF 25.95 18.73 210.00 6.96 7.20 5.42 8.42 5.49 7.64 14.51
Cash, $m
Cash, $m Operating cash flow 52 57 9 169 171 119 224 388 173 210
Capex (2) 0 (4) (20) (10) 67 (69) (33) (19) (94)
Free cash flow 50 57 5 149 161 186 155 356 154 116
Balance, $m
Balance, $m Working capital (22) 53 3 55 71 213 142 267 274 281
Total debt 750 759 696 635 591 663 657 605 553 560
Net debt 733 656 665 568 507 426 509 306 236 233
Shareholders’ equity 976 959 913 977 947 920 874 1,024 1,046 1,139
Returns, %
Returns, % ROA (0.08) (1.17) (3.03) 6.78 5.69 4.51 10.40 17.34 4.99 10.61
ROIC 0.51 0.15 (0.32) 6.51 4.99 4.29 8.97 15.46 5.49 9.57
ROE (0.15) (2.11) (5.44) 11.84 9.62 7.71 19.22 32.41 8.71 17.73
Negative figures in brackets.

All 10 years →

Fiscal years to Mar 2026 · latest quarter Jun 2026

Charts ten years each

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. $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
LPG Dorian LPG Ltd. $2.3B 7.1× 5.8× +123.11% (above 0%: growing) +1,254.17% (above 0%: growing) +5,051.19% (above 0%: growing) 89.05% 75.93%
NGL NGL Energy Partners LP $1.9B — (loss-making) 18.6× +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. $1.7B 74.9× 261× +40.98% (above 0%: growing) n/m +2,417.50% (above 0%: growing) 32.06% 19.82% Compare
GLP Global Partners LP $1.7B 10.1× 10.4× +46.79% (above 0%: growing) +240.00% (above 0%: growing) +36.41% (above 0%: growing) 4.84% 1.58% Compare
NAT Nordic American Tankers Limited $1.7B 13.0× 8.6× +133.96% (above 0%: growing) n/m +197.49% (above 0%: growing) 83.25% 82.06% Compare
PBT Permian Basin Royalty Trust $1.6B 94.7× 21.9× +34.59% (above 0%: growing) +60.00% (above 0%: growing) — 100.00% 92.68% Compare
FLNG Flex LNG Ltd. $1.5B 14.8× 14.3× +24.21% (above 0%: growing) +151.52% (above 0%: growing) +185.57% (above 0%: growing) 76.00% 55.68% Compare
TEN Tsakos Energy Navigation Ltd $1.5B 5.2× 8.0× +54.37% (above 0%: growing) +556.72% (above 0%: growing) +185.92% (above 0%: growing) 62.31% 54.53% Compare
Median of peers $1.7B 13.0× 12.4× +50.58% +249.28% +185.92% 60.90% 55.11%

All 58 Oil & Gas Midstream stocks →

Dorian LPG Ltd. (LPG) key facts

  • Strength: Dorian LPG Ltd.’s revenue for fiscal 2026 (year ended March 2026) was $481.5 million, up 36.3% from fiscal 2025.
  • Strength: Net income was $193.7 million, or $4.55 per share (basic), a net margin of 40.2%.
  • Dorian LPG Ltd. (LPG) is an Oil & Gas Midstream company in the Energy sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, LPG traded at $53.52, a market capitalization of $2.3 billion.
  • At that price the stock trades at 7.1× trailing-twelve-month earnings and 3.9× sales; its P/E is higher than 60% of its own readings over the past ten years.
  • Dorian LPG Ltd. pays an annual dividend of $1.35 per share, a yield of 2.52%, with a payout ratio of 17.9%.
  • Return on equity was 17.7% and debt-to-equity 0.41.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 2.30 (grey zone) for fiscal 2026.

Source: company filings (standardised) and stockrow calculations.

Dorian LPG Ltd. (LPG) Latest News

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stockrow.com/LPG · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com