International Seaways vs Dorian LPG
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KIRA’s take AI analyst
I put International Seaways and Dorian LPG side by side, using each one’s latest annual report. Here is what stands out:
- International Seaways is the larger business, with $843M of revenue in fiscal 2025 against $482M for Dorian LPG, about 1.8 times as much.
- Dorian LPG grew revenue faster (36.3%, against −11.4%).
- Dorian LPG kept more of each dollar of sales as operating profit (43.7% operating margin, against 41.0%).
- Investors pay more for each dollar of Dorian LPG’s earnings: a P/E of 7.2x against 7.1x for International Seaways.
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
International Seaways
INSW
4/8
5-year growthPiotroski F-scoreNet debt / EBITDAShare count change
Dorian LPG
LPG
4/8
Revenue growthOperating marginNet marginReturn on equity
Side by side
Best in the row
| Latest fiscal year | INSW FY25 | LPG FY26 |
|---|---|---|
| Size | ||
| Market cap | $5.5B | $2.3B |
| Revenue | $843M | $482M |
| Free cash flow | $379M | — |
| Net income | $309M | $194M |
| Growth | ||
| Revenue growth | −11.4% | 36.3% |
| 5-year growth | 14.9% | 8.8% |
| Share count change | −0.2% | 0.9% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 41.0% | 43.7% |
| Net margin | 36.7% | 40.2% |
| FCF margin | 44.9% | — |
| Return on capital | — | 12.5% |
| Return on equity | 16.0% | 17.7% |
| Balance sheet | ||
| Net debt | $400M | $233M |
| Net debt / EBITDA | 0.8x | 0.8x |
| Dividends and buybacks | $145M | $112M |
| Valuation & quality | ||
| P/E | 7.1x | 7.2x |
| Piotroski F-score | 6 | 5 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.