BW LPG Limited (BWLP) Financials

No reported quarters yet.

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.6	—	—	$3.6B	—
FY24	—	$2.65	—	—	$3.6B	—
FY23	—	$3.53	—	—	$2.9B	—
FY22	—	$1.68	—	—	$1.6B	—
FY21	—	$1.33	—	—	$1.2B	—
FY20	—	$1.76	—	—	$811.7M	—
FY19	—	$1.97	—	—	$817.2M	—
FY18	—	-$0.51	—	—	$521.8M	—
FY17	—	-$0.3	—	—	$491.8M	—
FY16	—	$0.18	—	—	$506.5M	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$506.5M	$491.8M	$521.8M	$817.2M	$811.7M	$1.2B	$1.6B	$2.9B	$3.6B	$3.6B
YoY change	-34.5%	-2.91%	+6.1%	+56.6%	-0.67%	+52.9%	+25.5%	+89.2%	+20.9%	+0.52%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	506.5M	491.8M	521.8M	817.2M	811.7M	1.2B	1.6B	2.9B	3.6B	3.6B
Cost of revenue	309.2M	397.6M	502.4M	530.1M	550M	1.1B	1.3B	2.4B	3.1B	3.2B
Gross profit	197.2M	94.2M	19.3M	287.1M	261.7M	166.8M	262.9M	514.9M	440.1M	334.8M
Gross margin	38.9%	19.2%	3.7%	35.1%	32.2%	13.4%	16.9%	17.5%	12.4%	9.35%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	14.9M	15.4M	18.2M	15.8M	11.7M	14.2M	13.9M	28.9M	30.1M	36.4M
Operating expenses	87.4M	100.8M	15.2M	16.4M	11.2M	15.3M	13.9M	29.8M	28.8M	42.9M
Operating income	110.1M	-1.9M	3.4M	270.1M	250.5M	153.3M	247.7M	482M	411.3M	291.9M
Operating margin	21.7%	-0.38%	0.65%	33.1%	30.9%	12.4%	15.9%	16.4%	11.5%	8.15%
Non-operating income, net	—	—	—	—	34.2M	66.8M	—	—	20.1M	56.8M
Pretax income	23.9M	-44.3M	-72.2M	276.2M	244.4M	186.9M	239.6M	504M	425M	303.9M
Income tax	233K	544K	178K	2.3M	499K	521K	1.1M	11M	30.1M	14.2M
Net income	23.6M	-44.8M	-72.4M	273.9M	243.9M	186.4M	238.6M	493M	394.9M	289.7M
Net margin	4.67%	-9.11%	-13.9%	33.5%	30%	15%	15.3%	16.7%	11.1%	8.09%
EBITDA	318.8M	124.2M	106.6M	403.8M	411.2M	320.3M	406.3M	707.7M	626.9M	556.1M
EPS	0.18	-0.3	-0.51	1.97	1.76	1.33	1.68	3.53	2.65	1.6
Diluted EPS	0.18	-0.3	-0.51	1.97	1.76	1.33	1.68	3.53	2.64	1.6

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	713.5M	881.8M	1B	876.5M	805M	843.7M	862.1M	1B	943.8M	732.4M	838.9M	1B
Cost of revenue	574M	706.4M	887M	770.6M	653.8M	812.3M	794.1M	965.4M	853.1M	596.2M	599M	842.7M
Gross profit	139.5M	175.5M	151.5M	105.9M	151.2M	31.5M	68M	78.5M	90.7M	136.2M	239.9M	169.3M
Gross margin	19.6%	19.9%	14.6%	12.1%	18.8%	3.73%	7.88%	7.52%	9.61%	18.6%	28.6%	16.7%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	10.8M	-4M	16.7M	17.9M	10.9M	-15.3M	20.8M	17.1M	19.3M	19.2M	18.5M	32M
Operating expenses	10.9M	-5.9M	15.5M	16.7M	12.3M	-15.7M	21.7M	17.9M	21.5M	20.4M	20.5M	29.8M
Operating income	128.6M	178.3M	136M	89.2M	138.9M	47.2M	46.3M	60.6M	69.1M	115.9M	219.4M	139.4M
Operating margin	18%	20.2%	13.1%	10.2%	17.3%	5.59%	5.37%	5.81%	7.33%	15.8%	26.2%	13.8%
Non-operating income, net	-384K	—	20M	163K	1M	-1.2M	33M	-2.8M	2M	24.6M	122K	-805K
Pretax income	122.4M	171.5M	155.2M	89.4M	138.6M	41.8M	66.8M	47.1M	60.3M	129.8M	211.7M	131.3M
Income tax	107K	9.7M	5.4M	4.5M	18.1M	2.1M	190K	3.6M	3.5M	6.9M	24.3M	-6.6M
Net income	122.3M	161.8M	149.8M	84.9M	120.5M	39.7M	66.6M	43.4M	56.8M	122.9M	187.3M	137.9M
Net margin	17.1%	18.3%	14.4%	9.69%	15%	4.71%	7.72%	4.16%	6.01%	16.8%	22.3%	13.6%
EBITDA	186.2M	234.1M	188.9M	140.3M	191.1M	106.7M	112.3M	125.2M	136.7M	181.9M	280.7M	201.5M
EPS	0.85	—	1.07	0.58	0.79	—	0.3	0.23	0.38	0.69	1.08	0.79
Diluted EPS	0.85	—	1.07	0.58	0.79	—	0.3	0.23	0.38	0.69	1.08	0.79

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	572.3M	588.4M	626.2M	1.2B	912.9M	764.2M	1B	2B	1.5B	—	3.7B
Enterprise value	1.9B	1.9B	1.8B	2.4B	1.8B	1.5B	1.5B	2.3B	2.4B	—	4.4B
Shares outstanding	136.6M	141.8M	140.2M	138.7M	138.2M	139M	135.4M	133M	133.6M	151.4M	151.4M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	24.2	—	—	4.32	3.74	4.1	4.39	4.06	3.84	—	8.33
P/S	1.13	1.2	1.2	1.45	1.12	0.62	0.67	0.68	0.43	—	1.04
P/B	0.51	0.55	0.64	1.01	0.73	0.55	0.66	1.26	0.78	—	1.92
EV/EBITDA	5.97	15.1	17	5.87	4.48	4.69	3.61	3.22	3.84	—	6.52
EV/Sales	3.76	3.81	3.47	2.9	2.27	1.21	0.94	0.77	0.68	—	1.26
Earnings yield	4.13%	—	—	23.1%	26.7%	24.4%	22.8%	24.6%	26%	—	12%
FCF yield	2.07%	-2.88%	12.4%	26.4%	36.3%	15.6%	43.8%	19.8%	9.68%	—	10.5%
PEG	—	—	—	—	—	—	—	—	—	—	0.03

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	38.9%	19.2%	3.7%	35.1%	32.2%	13.4%	16.9%	17.5%	12.4%	9.35%	16.7%
Operating margin	21.7%	-0.38%	0.65%	33.1%	30.9%	12.4%	15.9%	16.4%	11.5%	8.15%	13.8%
Net margin	4.67%	-9.11%	-13.9%	33.5%	30%	15%	15.3%	16.7%	11.1%	8.09%	12.6%
ROE	2.11%	-4.17%	-7.36%	23.3%	19.5%	13.5%	14.9%	31.1%	20.4%	15%	25.5%
ROA	0.91%	-1.82%	-3.2%	10.7%	10.1%	7.88%	9.32%	19.6%	11.9%	9.2%	10%
ROIC	4.45%	-0.08%	0.16%	11.3%	11.5%	7.2%	12.2%	25.3%	13.5%	10.5%	19.2%
Return on tangible assets	0.92%	-1.83%	-3.2%	10.8%	10.1%	7.89%	9.32%	19.6%	11.9%	9.2%	14.9%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.33	0.9	1.09	1.44	1.46	2.06	1.5	1.34	1.11	1.53	1.44
Quick ratio	0.31	0.84	0.93	1.29	1.4	1.81	1.22	1.05	0.99	1.24	1.18
Debt / equity	1.26	1.25	1.26	1.09	0.84	0.63	0.44	0.36	0.61	0.51	0.45
Debt / assets	0.54	0.55	0.55	0.5	0.43	0.37	0.28	0.23	0.35	0.31	0.28
Net debt / EBITDA	4.17	10.3	11.1	2.94	2.26	2.31	1.03	0.39	1.42	1.32	0.78
Interest coverage	1.87	0.06	-0.43	5.8	6.61	5.85	9.05	19.5	22.4	6.73	13.6
Effective tax rate	0.98%	0%	0%	0.85%	0.2%	0.28%	0.45%	2.18%	7.08%	4.67%	5.27%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	3.71	3.47	3.72	5.89	5.87	8.93	11.5	22.2	26.7	23.7	23.4
EPS (basic)	0.18	-0.3	-0.51	1.97	1.76	1.33	1.68	3.53	2.65	1.6	1.6
EPS (diluted)	0.18	-0.3	-0.51	1.97	1.76	1.33	1.68	3.53	2.64	1.6	2.91
Book value per share	8.18	7.57	7.02	8.49	9.05	9.97	11.8	11.9	14.5	12.7	12.6
FCF per share	0.09	-0.12	0.55	2.25	2.4	0.86	3.39	2.98	1.1	2.54	4.14
Cash per share	0.59	0.4	0.36	0.67	0.86	0.98	2.13	2.19	2.11	1.69	2.02
Capex per share	1.37	0.15	0.08	0.16	0.47	0.87	0.43	0.87	4.51	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	36.9%	4.46%	2.26%	2.65%	8.04%	9.71%	3.7%	3.94%	16.9%	—	—
Capex / operating cash flow	215.9%	-73.4%	-30%	8.5%	14.1%	34.1%	17.3%	40.1%	68.3%	—	—
Payout ratio	443.9%	—	—	21.8%	51.9%	53.4%	53.1%	82.3%	98.4%	69%	63.3%
Dividend yield	18.3%	—	—	5.04%	13.9%	13%	12.1%	20.3%	25.6%	—	15.4%

Yield

15.4%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.95

ex-dividend Sep 8, 2026

Payout ratio

63%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 8, 2026	$0.95
Jun 11, 2026	$0.67
Mar 12, 2026	$0.57
May 28, 2025	$0.28
Mar 7, 2025	$0.42
Dec 11, 2024	$0.42
Sep 9, 2024	$0.58

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$713.5M	$881.8M	$1B	$876.5M	$805M	$843.7M	$862.1M	$1B	$943.8M	$732.4M	$838.9M	$1B
YoY change	+116.5%	-5.41%	+16.3%	+91%	+12.8%	-4.32%	-17%	+19.1%	+17.2%	-13.2%	-2.69%	-3.06%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	80.6M	56.5M	50.1M	93.5M	118.5M	135.9M	287.8M	290.8M	282.4M	255.3M
Receivables	51.8M	73.4M	69.6M	135.4M	148.8M	143.7M	197.6M	315.2M	202.9M	231.2M
Inventory	12.7M	19.4M	28M	40.7M	15.1M	54.6M	135.9M	188.6M	76.7M	123.9M
Total current assets	165.6M	276M	188.8M	388M	374.7M	452.4M	739.5M	878.7M	677.9M	643.6M
Property, plant & equipment	2.5B	2.2B	2.1B	2.2B	-630.6M	1.9B	1.8B	1.6B	-872M	-956.1M
Goodwill & intangibles	15.1M	5.3M	0	2M	3.9M	1.9M	1.4M	1.2M	636K	356K
Total assets	2.6B	2.5B	2.3B	2.5B	2.4B	2.4B	2.6B	2.5B	3.3B	3.1B
Accounts payable	28.5M	4.9M	6.2M	7.5M	6.4M	38.6M	165.9M	222M	97.7M	93.9M
Short-term debt	431.2M	264.9M	133.4M	191.1M	171.8M	128.9M	237.4M	291.9M	401M	187M
Total current liabilities	496.5M	305.4M	173.1M	270M	256.8M	219.5M	493.9M	655.3M	610.1M	420.7M
Long-term debt	979.6M	1.1B	1.1B	1.1B	874.2M	745.9M	468.5M	278.3M	772.3M	803.2M
Total liabilities	1.5B	1.4B	1.3B	1.4B	1.2B	978.4M	963.3M	934.3M	1.4B	1.2B
Shareholders' equity	1.1B	1.1B	983.6M	1.2B	1.3B	1.4B	1.6B	1.6B	1.9B	1.9B
Total debt	1.4B	1.3B	1.2B	1.3B	1B	874.8M	705.9M	570.2M	1.2B	990.2M
Net debt	1.3B	1.3B	1.2B	1.2B	955.7M	742.2M	421.3M	282.6M	893.6M	748.2M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	302.9M	290.8M	330.5M	267.1M	316.3M	282.4M	283M	322.5M	294.7M	255.3M	287.6M	306.1M
Receivables	242M	315.2M	179.1M	261.8M	261.6M	202.9M	270.1M	351.8M	269.2M	231.2M	178.1M	426.2M
Inventory	109.2M	188.6M	96.5M	70.5M	114.5M	76.7M	95.8M	36.8M	124.9M	123.9M	106.9M	174.3M
Total current assets	660.4M	878.7M	651.2M	638.3M	875.1M	677.9M	722M	792M	796.2M	643.6M	863.3M	962.3M
Property, plant & equipment	1.7B	1.6B	1.6B	-781.5M	218K	-872M	338K	-904.5M	302K	-956.1M	503K	-1.1B
Goodwill & intangibles	1.4M	1.2M	1.3M	1.1M	848K	636K	426K	374K	323K	356K	296K	254K
Total assets	2.4B	2.5B	2.3B	2.2B	2.5B	3.3B	3.4B	3.4B	3.3B	3.1B	3.3B	3.4B
Accounts payable	131.2M	222M	158.9M	156.9M	169.5M	97.7M	239.8M	266.8M	240.6M	93.9M	203.8M	325.3M
Short-term debt	329.8M	291.9M	173M	205.9M	362.8M	401M	278.7M	281.9M	227.2M	187M	173.5M	267.1M
Total current liabilities	544.3M	655.3M	368.3M	391.3M	654.3M	610.1M	589.6M	621.3M	541.5M	420.7M	587.1M	668.7M
Long-term debt	288.7M	278.3M	271.6M	244.2M	239.4M	772.3M	849.5M	851.9M	865.3M	803.2M	724.4M	665.6M
Total liabilities	833.8M	934.3M	639.9M	636.1M	893.7M	1.4B	1.4B	1.5B	1.4B	1.2B	1.3B	1.3B
Shareholders' equity	1.5B	1.6B	1.7B	1.6B	1.6B	1.9B	1.9B	1.9B	1.9B	1.9B	2B	2.1B
Total debt	618.5M	570.2M	444.6M	450.1M	602.2M	1.2B	1.1B	1.1B	1.1B	990.2M	897.8M	932.6M
Net debt	318.9M	282.6M	116.4M	185.8M	288.7M	893.6M	848M	812.9M	799.4M	748.2M	624.8M	628.8M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	23.9M	-44.3M	-72.2M	276.2M	244.4M	186.9M	239.6M	504M	425M	303.9M
Depreciation & amortization	—	—	—	—	152.4M	154.2M	—	—	202.2M	255.9M
Stock-based compensation	121K	47K	-151K	214K	227K	465K	1.4M	1.7M	2M	1.8M
Change in working capital	32.9M	-33.3M	-13.5M	-73.9M	24.8M	-24.4M	63.8M	-234.8M	244.9M	2.7M
Operating cash flow	86.5M	-29.9M	-39.2M	254.9M	461.3M	353.5M	334.2M	289.6M	881.6M	567.4M
Capital expenditure	-186.7M	22M	-11.8M	-21.7M	-65.3M	-120.5M	57.7M	-116M	-602M	—
Investing cash flow	-229.7M	24.2M	70.4M	32.4M	-6.5M	45M	112.1M	59.1M	-557.2M	132.8M
Dividends paid	-104.9M	—	—	-59.6M	-126.6M	-99.5M	-126.7M	-405.5M	-388.5M	-199.9M
Share repurchases	0	-1.1M	-11.2M	-1.7M	-2.5M	-5.5M	-26.3M	-23.7M	-100K	-2.7M
Financing cash flow	4.9M	-80.8M	-122.4M	-204.4M	-388.2M	-226.5M	-441.5M	-497.7M	-116.3M	-477.9M
Net change in cash	-138.3M	-86.5M	-91.2M	82.9M	66.5M	172M	4.7M	-149M	208.1M	222.2M
Free cash flow	11.8M	-16.9M	77.6M	312.1M	331.3M	119.5M	459M	396.7M	146.9M	385M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	122.4M	171.5M	155.2M	89.4M	138.6M	41.8M	66.8M	47.1M	60.3M	129.8M	211.7M	131.3M
Depreciation & amortization	55.3M	—	49M	47M	49.4M	56.8M	63.3M	62.6M	65.5M	64.4M	60.3M	61.1M
Stock-based compensation	1.9M	-1.3M	663K	409K	567K	377K	355K	583K	448K	367K	448K	572K
Change in working capital	-138.4M	-209.4M	422.2M	-79M	-147.8M	146.6M	-21.6M	-50.5M	33.4M	34.9M	-111.8M	-116.1M
Operating cash flow	46.2M	-36.5M	629.8M	58.9M	43.5M	246.4M	123.2M	94.7M	128.8M	180.3M	165.5M	205.9M
Capital expenditure	-1.8M	-38.3M	63.1M	415K	-82M	-583.5M	-11.2M	—	—	—	—	—
Investing cash flow	-280K	-36M	37.3M	2.4M	-80.1M	-516.8M	-9.2M	2.1M	1.7M	61.9M	1.8M	16.7M
Dividends paid	-106.1M	-104.9M	-118.4M	-131.8M	-76.7M	-61.6M	-63.6M	-42.4M	-33.3M	-60.5M	-86.5M	-101.7M
Share repurchases	-3.7M	—	-100K	0	0	0	0	-2.7M	0	0	—	0
Financing cash flow	-134.3M	-34.8M	-290.2M	-134.3M	-46.2M	352.5M	-115.3M	22.6M	-118.6M	-272.3M	-198M	-73.9M
Net change in cash	-88.3M	-107.3M	376.8M	-73M	-82.8M	82.1M	-1.3M	119.4M	11.9M	-30.1M	-30.7M	148.7M
Free cash flow	75.3M	124.2M	403.1M	52.8M	-27.7M	-282M	89.9M	13.4M	117.1M	167.2M	154M	192.6M

BW LPG Limited Financials

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement