BWLPG Stock Analysis: BW G | OL
Oil & Gas Midstream | OL, Norway | Market Cap: 36.587m NOK | 12M Return: 116% | BMG173841013 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 78.3M
EPS Trend: -55.8%
Qual. Beats: -1
Rev. Trend: 75.7%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
BW LPG Limited is a Singapore-based investment holding company engaged in global ship owning and chartering, operating through two segments: Shipping and Product Services. Its activities span the transportation of liquefied petroleum gas (LPG), integrated LPG delivery and management services, wholesale LPG trading, and investments in commercial enterprises. The company is listed on the Oslo Stock Exchange (OL: BWLPG) and is classified within the GICS Oil & Gas Storage & Transportation sub-industry, reflecting its role in the midstream energy logistics chain.
As of December 31, 2025, the company owned and operated a fleet of 54 vessels, comprising 28 very large gas carriers (VLGCs), 7 large gas carriers time-chartered into Product Services, and 8 VLGCs held through its subsidiary BW LPG India Pte. Ltd. VLGCs are the standard vessel class for long-haul seaborne LPG transport, which moves the gas primarily from production regions such as the U.S. Gulf and the Middle East to demand markets in Asia.
BW LPG was founded in 1935 and is headquartered in Singapore. It was formerly known as BW Gas LPG Holding Limited before adopting its current name in September 2013. The companys dual-segment structure - combining pure tonnage ownership with trading and distribution - allows it to capture margin across both physical shipping and downstream LPG supply activities.
- VLGC freight rates recover on US LPG export surge
- India LPG demand growth expands product services segment
- Dividends and buybacks accelerate capital returns
| Net Income: 445.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.19 > 0.02 and ΔFCF/TA 24.71 > 1.0 |
| NWC/Revenue: 8.32% < 20% (prev 4.80%; Δ 3.52% < -1%) |
| CFO/TA 0.39 > 3% & CFO 1.33b > Net Income 445.7m |
| Net Debt (-185.5m) to EBITDA (826.6m): -0.22 < 3 |
| Current Ratio: 1.44 > 1.5 & < 3 |
| Outstanding Shares: last quarter (151.8m) vs 12m ago 0.31% < -2% |
| Gross Margin: 23.77% > 18% (prev 20.40%; Δ 3.37% > 0.5%) |
| Asset Turnover: 104.1% > 50% (prev 105.0%; Δ -0.88% > 0%) |
| Interest Coverage Ratio: 13.64 > 6 (EBIT TTM 575.2m / Interest Expense TTM 42.2m) |
| A: 0.09 (Total Current Assets 962.3m - Total Current Liabilities 668.7m) / Total Assets 3.39b |
| B: 0.20 (Retained Earnings 686.8m / Total Assets 3.39b) |
| C: 0.17 (EBIT TTM 575.2m / Avg Total Assets 3.39b) |
| D: 1.44 (Book Value of Equity 1.92b / Total Liabilities 1.33b) |
| Altman-Z'' = 3.88 = AA |
| DSRI: 1.22 (Receivables 426.2m/351.8m, Revenue 3.53b/3.55b) |
| GMI: 0.86 (GM 20.40% / 23.77%) |
| AQI: 0.45 (AQ_t 0.00 / AQ_t-1 0.01) |
| SGI: 0.99 (Revenue 3.53b / 3.55b) |
| TATA: -0.26 (NI 445.7m - CFO 1.33b) / TA 3.39b) |
| Beneish M = -3.33 (Cap -4..+1) = AA |
As of October 09, 2026, the stock is trading at NOK 248.20 with a total of 369,233 shares traded. Over the past week, the price has changed by +2.99%, over one month by +12.21%, over three months by +38.87% and over the past year by +115.96%.
Current recommended Stop Loss: 225.80 (which is 9% or 2.8 ATR below the current price).
BW G has no consensus analysts rating.
Market Cap USD = 3.82b (36.6b NOK * 0.10442 NOK.USD)
P/E Trailing = 8.5099
P/E Forward = 14.5773
P/S = 10.3734
P/B = 1.9384
Revenue TTM = 3.53b USD
EBIT TTM = 575.2m USD
EBITDA TTM = 826.6m USD
Long Term Debt = 611.6m USD (from longTermDebt, last quarter)
Short Term Debt = 202.6m USD (from shortLongTermDebt, last quarter)
Debt = 118.4m USD (Leases only: 118.4m)
Net Debt = -185.5m USD (calculated: Debt 118.4m - CCE 303.9m)
Enterprise Value = 3.63b USD (3.82b + Debt 118.4m - CCE 303.9m)
Interest Coverage Ratio = 13.64 (Ebit TTM 575.2m / Interest Expense TTM 42.2m)
EV/FCF = 5.76x (Enterprise Value 3.63b / FCF TTM 631.0m)
FCF Yield = 17.36% (FCF TTM 631.0m / Enterprise Value 3.63b)
FCF Margin = 17.89% (FCF TTM 631.0m / Revenue TTM 3.53b)
Net Margin = 12.64% (Net Income TTM 445.7m / Revenue TTM 3.53b)
Gross Margin = 23.77% ((Revenue TTM 3.53b - Cost of Revenue TTM 2.69b) / Revenue TTM)
Gross Margin QoQ = 16.73% (prev 28.60%)
Tobins Q-Ratio = 1.07 (Enterprise Value 3.63b / Total Assets 3.39b)
Interest Expense / Debt = 35.62% (Interest Expense 42.2m / Debt 118.4m)
Taxrate = 5.27% (28.1m / 533.0m)
NOPAT = 544.9m (EBIT 575.2m * (1 - 5.27%))
Current Ratio = 1.44 (Total Current Assets 962.3m / Total Current Liabilities 668.7m)
Debt / Equity = 0.06 (Debt 118.4m / totalStockholderEquity, last quarter 1.92b)
Debt / EBITDA = -0.22 (Net Debt -185.5m / EBITDA 826.6m)
Debt / FCF = -0.29 (Net Debt -185.5m / FCF TTM 631.0m)
Total Stockholder Equity = 1.86b (last 4 quarters mean from totalStockholderEquity)
RoA = 13.16% (Net Income 445.7m / Total Assets 3.39b)
RoE = 23.98% (Net Income TTM 445.7m / Total Stockholder Equity 1.86b)
RoCE = 23.28% (EBIT 575.2m / Capital Employed (Equity 1.86b + L.T.Debt 611.6m))
RoIC = 21.42% (NOPAT 544.9m / Invested Capital 2.54b)
WACC = 7.67% (E(3.82b)/V(3.94b) * Re(6.86%) + D(118.4m)/V(3.94b) * Rd(35.62%) * (1-Tc(0.05)))
Discount Rate = 6.86% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -78.13 | Cagr: -2.08%
[DCF] Terminal Value 75.44% ; FCFF base≈631.0m ; Y1≈633.6m ; Y5≈671.2m
[DCF] Fair Price = 69.99 (EV 10.4b - Net Debt -185.5m = Equity 10.6b / Shares 151.8m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: -55.79 | EPS CAGR: -24.52% | SUE: -2.39 | # QB: -1
Revenue Correlation: 75.73 | Revenue CAGR: 6.76% | SUE: 0.55 | # QB: 0
EPS current Quarter (2026-09-30): EPS=1.42 | Chg30d=+12.42% | Revisions=-25% | Analysts=3
EPS current Year (2026-12-31): EPS=4.59 | Chg30d=+5.38% | Revisions=-25% | GrowthEPS=+269.0% | GrowthRev=+66.6%
EPS next Year (2027-12-31): EPS=1.99 | Chg30d=+3.91% | Revisions=-40% | GrowthEPS=-56.7% | GrowthRev=-39.2%
[Analyst] Revisions Ratio: -57% (up=0, down=4)