(BWLPG) BW G - OL
Sector: Energy | Industry: Oil & Gas Midstream | Exchange: OL (Norway) | Market Cap: 29.543m NOK | Total Return: 63.8% in 12m
Avg Turnover: 72.7M
EPS Trend: -68.1%
Qual. Beats: 0
Rev. Trend: 82.2%
Qual. Beats: 0
Warnings
Fakeout Below Avwap Earnings
Tailwinds
Confidence
BW LPG Limited is a Singapore-based energy transportation company specializing in the ownership and operation of Very Large Gas Carriers (VLGCs). The company maintains a vertically integrated business model through two primary segments: Shipping, which handles maritime logistics, and Product Services, which manages wholesale trading and physical LPG delivery.
The company operates a fleet of 54 vessels, including specialized units under its Indian subsidiary. In the global LPG sector, VLGCs are the primary vessels used for long-haul exports from North America and the Middle East to demand centers in Asia, as their large capacity provides significant economies of scale for transporting pressurized or refrigerated gases.
Founded in 1935 and rebranded in 2013, BW LPG functions as an investment holding entity with a focus on both spot market chartering and long-term contracts. The LPG shipping industry is highly cyclical and sensitive to the price arbitrage between regional energy hubs, which influences global trade flow volumes.
- VLGC freight rates fluctuate on US-Asia LPG arbitrage spreads
- Product Services segment margins expand through integrated trading and logistics
- Fleet utilization improves as US LPG export terminal capacity grows
- Dividend payouts and share buybacks drive shareholder capital returns
| Net Income: 360.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.14 > 0.02 and ΔFCF/TA 18.54 > 1.0 |
| NWC/Revenue: 7.76% < 20% (prev 3.91%; Δ 3.85% < -1%) |
| CFO/TA 0.42 > 3% & CFO 1.38b > Net Income 360.5m |
| Net Debt (-139.2m) to EBITDA (741.4m): -0.19 < 3 |
| Current Ratio: 1.47 > 1.5 & < 3 |
| Outstanding Shares: last quarter (151.8m) vs 12m ago 0.10% < -2% |
| Gross Margin: 23.80% > 18% (prev 19.28%; Δ 4.52% > 0.5%) |
| Asset Turnover: 106.5% > 50% (prev 101.0%; Δ 5.48% > 0%) |
| Interest Coverage Ratio: 13.91 > 6 (EBIT TTM 488.5m / Interest Expense TTM 35.1m) |
| A: 0.08 (Total Current Assets 863.3m - Total Current Liabilities 587.1m) / Total Assets 3.33b |
| B: 0.21 (Retained Earnings 683.8m / Total Assets 3.33b) |
| C: 0.15 (EBIT TTM 488.5m / Avg Total Assets 3.34b) |
| D: 1.45 (Book Value of Equity 1.90b / Total Liabilities 1.31b) |
| Altman-Z'' = 3.72 = AA |
| DSRI: 0.63 (Receivables 178.1m/270.1m, Revenue 3.56b/3.39b) |
| GMI: 0.81 (GM 19.28% / 23.80%) |
| AQI: 0.48 (AQ_t 0.00 / AQ_t-1 0.01) |
| SGI: 1.05 (Revenue 3.56b / 3.39b) |
| TATA: -0.31 (NI 360.5m - CFO 1.38b) / TA 3.33b) |
| Beneish M = -3.81 (Cap -4..+1) = AAA |
As of June 19, 2026, the stock is trading at NOK 177.80 with a total of 426,544 shares traded.
Over the past week, the price has changed by -12.76%,
over one month by -7.58%,
over three months by +23.75% and
over the past year by +63.78%.
BW G has no consensus analysts rating.
Market Cap USD = 3.11b (29.5b NOK * 0.1052 NOK.USD)
P/E Trailing = 8.6068
P/E Forward = 5.5463
P/S = 8.3011
P/B = 1.636
Revenue TTM = 3.56b USD
EBIT TTM = 488.5m USD
EBITDA TTM = 741.4m USD
Long Term Debt = 663.1m USD (from longTermDebt, last quarter)
Short Term Debt = 100.8m USD (from shortLongTermDebt, last quarter)
Debt = 133.9m USD (Leases only: 133.9m)
Net Debt = -139.2m USD (calculated: Debt 133.9m - CCE 273.1m)
Enterprise Value = 2.97b USD (3.11b + Debt 133.9m - CCE 273.1m)
Interest Coverage Ratio = 13.91 (Ebit TTM 488.5m / Interest Expense TTM 35.1m)
EV/FCF = 6.57x (Enterprise Value 2.97b / FCF TTM 451.8m)
FCF Yield = 15.22% (FCF TTM 451.8m / Enterprise Value 2.97b)
FCF Margin = 12.69% (FCF TTM 451.8m / Revenue TTM 3.56b)
Net Margin = 10.13% (Net Income TTM 360.5m / Revenue TTM 3.56b)
Gross Margin = 23.80% ((Revenue TTM 3.56b - Cost of Revenue TTM 2.71b) / Revenue TTM)
Gross Margin QoQ = 28.60% (prev 32.61%)
Tobins Q-Ratio = 0.89 (Enterprise Value 2.97b / Total Assets 3.33b)
Interest Expense / Debt = 26.22% (Interest Expense 35.1m / Debt 133.9m)
Taxrate = 8.54% (38.3m / 448.8m)
NOPAT = 446.8m (EBIT 488.5m * (1 - 8.54%))
Current Ratio = 1.47 (Total Current Assets 863.3m / Total Current Liabilities 587.1m)
Debt / Equity = 0.07 (Debt 133.9m / totalStockholderEquity, last quarter 1.90b)
Debt / EBITDA = -0.19 (Net Debt -139.2m / EBITDA 741.4m)
Debt / FCF = -0.31 (Net Debt -139.2m / FCF TTM 451.8m)
Total Stockholder Equity = 1.82b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.79% (Net Income 360.5m / Total Assets 3.33b)
RoE = 19.80% (Net Income TTM 360.5m / Total Stockholder Equity 1.82b)
RoCE = 19.67% (EBIT 488.5m / Capital Employed (Equity 1.82b + L.T.Debt 663.1m))
RoIC = 17.41% (NOPAT 446.8m / Invested Capital 2.57b)
WACC = 8.09% (E(3.11b)/V(3.24b) * Re(7.41%) + D(133.9m)/V(3.24b) * Rd(26.22%) * (1-Tc(0.09)))
Discount Rate = 7.41% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -65.93 | Cagr: -2.08%
[DCF] Terminal Value 75.44% ; FCFF base≈451.8m ; Y1≈453.7m ; Y5≈480.6m
[DCF] Fair Price = 50.15 (EV 7.47b - Net Debt -139.2m = Equity 7.61b / Shares 151.8m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: -68.15 | EPS CAGR: -24.99% | SUE: 0.0 | # QB: 0
Revenue Correlation: 82.18 | Revenue CAGR: 11.22% | SUE: 0.38 | # QB: 0
EPS current Quarter (2026-06-30): EPS=1.36 | Chg30d=+81.19% | Revisions=+20% | Analysts=3
EPS next Quarter (2026-09-30): EPS=1.16 | Chg30d=+100.66% | Revisions=+20% | Analysts=3
EPS current Year (2026-12-31): EPS=4.35 | Chg30d=+37.79% | Revisions=+33% | GrowthEPS=+249.2% | GrowthRev=+61.0%
EPS next Year (2027-12-31): EPS=1.97 | Chg30d=+22.14% | Revisions=+43% | GrowthEPS=-54.8% | GrowthRev=-35.0%
[Analyst] Revisions Ratio: +43%