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Dorian LPG

LPG NYSE Oil & Gas Storage & Transportation Financials FY2017–FY2026

Dorian LPG's revenue rose 36.3% to $482 million in fiscal 2026. Its operating margin was 43.6%, up from 31.9% a year earlier. It paid out $112 million in dividends and buybacks. The diluted share count rose 0.9%.

Last close · Oct 23, 2026

$54.06

5.1%
Value it Compare
Revenue Total sales reported in the income statement.
$482M
36.3% vs prior year
Operating margin Operating income as a share of revenue.
43.7%
11.8 pts
Net income Profit after all expenses, interest and tax.
$194M
114.7%
Free cash flow Cash from operations minus capital spending.
—
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
12.5%
5.7 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$2.3B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
7.2x
On $7.55 EPS (TTM)

What Dorian LPG does

No business description yet.

Legal name
DORIAN LPG LTD.
Fiscal year ends
March 31, 2026
Latest annual report
—
Accession · CIK
0001596993-26-000025
0001596993

Revenue and margins

Dorian LPG had $482M of revenue in fiscal 2026, up 36.3% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was — in fiscal 2026, — of revenue. Cash from operations minus capital spending.

Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Dorian LPG returned $112M to shareholders in fiscal 2026. The diluted share count rose 0.9%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Dorian LPG yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$233M and divides by 42.6M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 7.2x · peers 24.8x · sector 17.4x.

Balance sheet

Cash, debt and the ratios that show how comfortably Dorian LPG can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $237M$149M$294M$317M$327M
Debt incl. finance leases $663M$657M$605M$553M$560M
Net debt / EBITDA 2.7x1.9x0.8x1.3x0.8x
Debt / equity 0.7x0.8x0.6x0.5x0.5x
Interest coverage 4.6x6.3x8.1x3.2x7.2x
Current ratio 3.3x2.5x3.6x3.5x2.7x
Quick ratio 3.2x2.5x3.6x3.5x2.7x
Total assets $1.6B$1.7B$1.8B$1.8B$1.9B
Total liabilities $687M$835M$814M$733M$733M
Shareholders' equity $920M$874M$1.0B$1.0B$1.1B
Net debt (− = net cash) $426M$509M$311M$236M$233M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$9.5M

7 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Sep 21, 2026 Oivind LorentzenDirector Sold 20,000 $56.81 $1.1M Form 4
Sep 17, 2026 Christina TanDirector Sold 10,000 $58.65 $0.6M Form 4
Sep 11, 2026 Marit LundeDirector Sold 12,104 $54.42 $0.7M Form 4
Sep 10, 2026 Alexander C. HadjipaterasChief Operating Officer Sold 5,000 $54.13 $0.3M Form 4
Sep 10, 2026 Theodore B. YoungChief Financial Officer Sold 11,919 $54.50 $0.6M Form 4
Sep 9, 2026 Theodore B. YoungChief Financial Officer Sold 5,000 $54.01 $0.3M Form 4
Sep 9, 2026 Tim Truels HansenChief Commercial Officer Sold 50,000 $53.12 $2.7M Form 4
Sep 8, 2026 Theodore B. YoungChief Financial Officer Sold 9,081 $53.25 $0.5M Form 4
Aug 11, 2026 Tim Truels HansenChief Commercial Officer Sold 25,000 $45.04 $1.1M Form 4
Jun 30, 2026 Tim Truels HansenChief Commercial Officer Sold 20,000 $35.38 $0.7M Form 4
Jun 11, 2026 Christina TanDirector Sold 5,708 $44.08 $0.3M Form 4
May 22, 2026 Ted KalborgDirector Sold 15,373 $45.06 $0.7M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY24FY25FY26
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✓ ✕
Current ratio rose ✓ ✕ ✕
Share count didn't rise ✕ ✕ ✕
Gross margin rose — — —
Revenue rose relative to assets ✓ ✕ ✓
F-score 7 / 84 / 85 / 8
Accruals ratio −4.6%−4.6%−0.9%
Altman Z'' 4.143.514.07

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Dorian LPG LPG $2.3B 36.3% 43.7% — 12.5% 7.2x 5
International Seaways INSW $5.5B −11.4% 41.0% 44.9% — 7.1x 6 Compare →
Antero Midstream AM $9.9B 7.4% 54.3% — 9.2% 24.8x 7 Compare →
DT Midstream DTM $12.7B 26.7% 49.4% 35.5% 5.7% 27.1x 7 Compare →
Viper Energy VNOM $9.1B 62.0% −10.0% — −1.3% — 3 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $167M $159M $158M $333M $316M $274M $390M $561M $353M $482M
Operating income $14.0M $3.8M −$8.0M $161M $116M $92.4M $198M $329M $113M $210M
Interest expense $24.7M $27.4M $36.6M $32.4M $21.7M $20.1M $31.4M $40.5M $35.8M $29.2M
Net income −$1.4M −$20.4M −$50.9M $112M $92.6M $71.9M $172M $307M $90.2M $194M
Diluted EPS −$0.03 −$0.38 −$0.93 $2.07 $1.86 $1.78 $4.29 $7.60 $2.14 $4.54
Diluted shares 0.05B 0.05B 0.05B 0.05B 0.05B 0.04B 0.04B 0.04B 0.04B 0.04B
Cash flow
Cash from operations $52.1M $57.2M $8.9M $169M $171M $119M $224M $388M $173M $210M
Capital expenditure $1.9M $0.3M $4.0M $19.9M $9.5M $23.2M $68.8M — — —
Free cash flow $50.2M $57.0M $4.9M $149M $161M $95.5M $155M — — —
Depreciation and amortization $65.1M $65.3M $65.2M $66.3M $68.5M $66.4M $63.4M $68.7M $69.6M $71.7M
Stock-based compensation $4.4M $5.1M $5.5M $3.2M $3.4M $3.3M $4.3M $8.3M $10.4M $11.0M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $13.0M $1.2M $1.3M $50.6M $126M $21.4M $1.7M $3.9M $6.3M $7.0M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $80.1M $221M $162M $156M $105M
Dividends and buybacks $13.0M $1.2M $1.3M $50.6M $126M $101M $222M $166M $163M $112M
Balance sheet
Cash and short-term investments $17.0M $104M $31.4M $63.3M $79.3M $237M $149M $294M $317M $327M
Total debt $750M $759M $696M $635M $592M $663M $657M $605M $553M $560M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $64.0M $135M $82.6M $140M $153M $308M $236M $369M $382M $450M
Current liabilities $85.8M $82.0M $79.4M $85.0M $82.1M $94.8M $94.6M $102M $108M $169M
Inventory $2.6M $2.0M $2.1M $2.0M $2.0M $2.3M $2.6M $2.4M $2.5M $2.4M
Property and equipment, net $1.6B $1.5B $1.5B $1.4B $1.4B $1.3B $1.3B $1.2B $1.2B $1.2B
Total assets $1.7B $1.7B $1.6B $1.7B $1.6B $1.6B $1.7B $1.8B $1.8B $1.9B
Total liabilities $770M $777M $713M $695M $635M $687M $835M $814M $733M $733M
Shareholders' equity $976M $959M $913M $977M $947M $920M $874M $1.0B $1.0B $1.1B
Margins
Operating margin 8.4% 2.4% −5.0% 48.3% 36.8% 33.7% 50.9% 58.6% 31.9% 43.7%
EBITDA margin 47.2% 43.4% 36.2% 68.2% 58.4% 57.9% 67.2% 70.9% 51.6% 58.6%
Net margin −0.9% −12.8% −32.2% 33.5% 29.3% 26.2% 44.2% 54.8% 25.5% 40.2%
FCF margin 30.0% 35.7% 3.1% 44.7% 51.0% 34.8% 39.8% — — —
Returns
Return on capital 0.6% 0.2% −0.4% 8.1% 6.1% 5.2% 11.5% 19.1% 6.8% 12.5%
Return on capital employed 0.8% 0.2% −0.5% 10.3% 7.5% 6.1% 12.7% 19.6% 6.6% 12.5%
Return on equity −0.2% −2.1% −5.4% 11.8% 9.6% 7.7% 19.2% 32.4% 8.7% 17.7%
Return on assets −0.1% −1.2% −3.0% 6.8% 5.7% 4.5% 10.4% 17.3% 5.0% 10.6%
Growth
Revenue growth −42.1% −4.8% −0.8% 111.0% −5.3% −13.2% 42.1% 43.9% −37.0% 36.3%
Net income growth −101.1% — — — −17.2% −22.3% 139.7% 78.3% −70.7% 114.8%
EPS growth −101.3% — — — −10.1% −4.3% 141.0% 77.2% −71.8% 112.2%
FCF growth — 13.5% −91.4% 2,937.4% 8.0% −40.7% 62.6% — — —
Share count change −4.6% −0.1% 0.9% −0.7% −7.9% −19.0% −0.4% 0.6% 4.4% 0.9%
Financial health
Net debt / EBITDA 9.3x 9.5x 11.6x 2.5x 2.8x 2.7x 1.9x 0.8x 1.3x 0.8x
Debt / equity 0.8x 0.8x 0.8x 0.7x 0.6x 0.7x 0.8x 0.6x 0.5x 0.5x
Interest coverage 0.6x 0.1x −0.2x 5.0x 5.4x 4.6x 6.3x 8.1x 3.2x 7.2x
Current ratio 0.8x 1.7x 1.0x 1.6x 1.9x 3.3x 2.5x 3.6x 3.5x 2.7x
Quick ratio 0.7x 1.6x 1.0x 1.6x 1.8x 3.2x 2.5x 3.6x 3.5x 2.7x
Capital allocation
Capex / revenue 1.1% 0.2% 2.5% 6.0% 3.0% 8.5% 17.7% — — —
Stock comp / revenue 2.6% 3.2% 3.5% 1.0% 1.1% 1.2% 1.1% 1.5% 3.0% 2.3%
Payouts / FCF 25.8% 2.1% 26.7% 34.0% 78.4% 106.2% 143.1% — — —
Quality scores
Piotroski F-score 4.0 5.0 3.0 8.0 6.0 5.0 7.0 7.0 4.0 5.0
Altman Z'' 1.6 1.8 1.5 2.7 3.0 3.2 2.9 4.1 3.5 4.1
Accruals ratio −3.0% −4.5% −3.6% −3.5% −4.8% −2.9% −3.1% −4.6% −4.6% −0.9%

Source: SEC EDGAR XBRL filings (CIK 0001596993). Data updated October 21, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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