Dorian LPG Ltd. (LPG) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

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 %
Q1 27	$2.08	$2.52	+21.2%	—	$187.9M	—
Q4 26	$1.3	$1.89	+45.4%	—	$153.3M	—
Q3 26	$1.16	$1.11	-4.3%	—	$120M	—
Q2 26	$1.5	$1.31	-12.7%	—	$124.1M	—
Q1 26	$0.61	$0.27	-55.7%	—	$84.2M	—
Q4 25	$0.45	$0.25	-44.4%	—	$75.9M	—
Q3 25	$0.61	$0.43	-29.5%	—	$80.7M	—
Q2 25	$0.37	$0.35	-5.4%	—	$82.4M	—
Q1 25	$1.11	$1.26	+13.5%	—	$114.4M	—
Q4 24	$1.86	$1.91	+2.7%	—	$141.4M	—
Q3 24	$2.29	$2.62	+14.4%	—	$163.1M	—
Q2 24	$2.01	$1.85	-8.0%	—	$144.7M	—
Q1 24	$1.84	$1.21	-34.2%	—	$111.6M	—
Q4 23	$1.56	$1.94	+24.4%	—	$133.6M	—
Q3 23	$1.03	$1.29	+25.2%	—	$103.3M	—
Q2 23	$0.45	$0.41	-8.9%	—	$76M	—

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 %
FY26	—	$4.55	—	—	$481.5M	—
FY25	—	$2.14	—	—	$353.3M	—
FY24	—	$7.63	—	—	$560.7M	—
FY23	—	$4.31	—	—	$389.7M

Total revenue

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

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	$167.4M	$159.3M	$158M	$333.4M	$315.9M	$274.2M	$389.7M	$560.7M	$353.3M	$481.5M
YoY change	-42.1%	-4.84%	-0.82%	+111%	-5.25%	-13.2%	+42.1%	+43.9%	-37%	+36.3%

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	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	167.4M	159.3M	158M	333.4M	315.9M	274.2M	389.7M	560.7M	353.3M	481.5M
Cost of revenue	134.1M	131.9M	134M	150.8M	168.2M	161.2M	161.7M	195.5M	200.7M	219.3M
Gross profit	33.3M	27.5M	24M	182.6M	147.7M	113M	228M	365.2M	152.7M	262.2M
Gross margin	19.9%	17.2%	15.2%	54.8%	46.8%	41.2%	58.5%	65.1%	43.2%	54.5%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	21.7M	26.2M	34.5M	23.4M	33.9M	30.2M	32.1M	39M	42.6M	53M
Operating expenses	19.3M	23.6M	32M	21.5M	31.6M	27.9M	29.7M	36.4M	40M	50.3M
Operating income	14M	3.8M	-8M	161.1M	116.1M	85.1M	198.4M	328.8M	112.6M	211.9M
Operating margin	8.36%	2.41%	-5.04%	48.3%	36.7%	31%	50.9%	58.6%	31.9%	44%
Non-operating income, net	13.4M	11M	-4.1M	-14.6M	3.6M	13.5M	8.1M	9.6M	-1.9M	-137.1K
Pretax income	-1.4M	-20.4M	-50.9M	111.8M	92.6M	71.9M	172.4M	307.4M	90.2M	193.7M
Income tax	—	—	—	—	—	—	—	—	—	—
Net income	-1.4M	-20.4M	-50.9M	111.8M	92.6M	71.9M	172.4M	307.4M	90.2M	193.7M
Net margin	-0.86%	-12.8%	-32.2%	33.5%	29.3%	26.2%	44.2%	54.8%	25.5%	40.2%
EBITDA	74.6M	61.1M	54.9M	227.8M	189.3M	143.3M	259.3M	406.6M	193.5M	291.5M
EPS	-0.03	-0.38	-0.93	2.08	1.86	1.79	4.31	7.63	2.14	4.55
Diluted EPS	-0.03	-0.38	-0.93	2.07	1.86	1.78	4.29	7.6	2.14	4.54

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	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Revenue	144.7M	163.1M	141.4M	114.4M	82.4M	80.7M	75.9M	84.2M	124.1M	120M	153.3M	187.9M
Cost of revenue	51.3M	45.7M	51.1M	49.1M	47.5M	50.5M	53.6M	52.4M	53.4M	57.9M	55.7M	60.8M
Gross profit	93.4M	117.4M	90.3M	65.3M	34.9M	30.2M	22.3M	31.9M	70.7M	62.1M	97.6M	127.1M
Gross margin	64.5%	72%	63.9%	57.1%	42.4%	37.4%	29.4%	37.8%	57%	51.7%	63.7%	67.6%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	13.6M	7.7M	8.5M	10.4M	16.5M	7.5M	8.3M	16.9M	12M	10.8M	13.3M	13.5M
Operating expenses	12.9M	7M	7.9M	9.8M	15.8M	6.8M	7.6M	16.3M	11.4M	10.1M	12.6M	12.8M
Operating income	80.5M	110.3M	82.4M	55.5M	19.1M	23.4M	14.7M	15.6M	59.3M	52M	85M	114.2M
Operating margin	55.6%	67.7%	58.3%	48.5%	23.2%	29%	19.4%	18.5%	47.8%	43.3%	55.5%	60.8%
Non-operating income, net	4.3M	-3.2M	3.7M	1.6M	-4.7M	3.1M	-1.9M	-638.4K	639.6K	-452.6K	314.3K	29.8M
Pretax income	76.5M	100M	79.2M	51.3M	9.4M	21.4M	8.1M	10.1M	55.4M	47.2M	81M	138.3M
Income tax	—	—	—	—	—	—	—	—	—	—	—	—
Net income	76.5M	100M	79.2M	51.3M	9.4M	21.4M	8.1M	10.1M	55.4M	47.2M	81M	138.3M
Net margin	52.9%	61.3%	56%	44.9%	11.4%	26.5%	10.7%	12%	44.6%	39.3%	52.9%	73.6%
EBITDA	114M	139.3M	83M	76.7M	40.2M	44M	32.6M	36.8M	80.8M	72.1M	101.8M	133.3M
EPS	1.9	2.48	1.96	1.25	0.22	0.5	0.19	0.24	1.3	1.11	1.91	3.25
Diluted EPS	1.89	2.47	1.96	1.25	0.22	0.5	0.19	0.24	1.3	1.11	1.9	3.24

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	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Market cap	—	—	351.7M	442.7M	653.4M	—	797.8M	1.5B	941.3M	1.5B	2.3B
Enterprise value	—	—	1B	1B	1.2B	—	1.5B	2.1B	1.3B	1.8B	2.6B
Shares outstanding	48.1M	53.7M	54.8M	50.8M	49.8M	40.2M	40M	40.3M	42.1M	42.6M	42.6M

Valuation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
P/E	—	—	—	3.96	7.06	—	4.63	5.04	10.4	7.52	7.34
P/S	—	—	2.23	1.33	2.07	—	2.05	2.76	2.66	3.02	4.09
P/B	—	—	0.39	0.45	0.69	—	0.91	1.51	0.9	1.28	1.91
EV/EBITDA	—	—	18.5	4.57	6.25	—	5.65	5.05	6.91	6.3	7.01
EV/Sales	—	—	6.43	3.12	3.75	—	3.76	3.66	3.79	3.82	4.47
Earnings yield	—	—	—	25.3%	14.2%	—	21.6%	19.8%	9.58%	13.3%	13.6%
FCF yield	—	—	1.38%	33.7%	24.7%	—	19.5%	22.9%	16.4%	7.99%	-5.15%
PEG	—	—	—	—	—	—	—	—	—	—	0.01

Profitability

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Gross margin	19.9%	17.2%	15.2%	54.8%	46.8%	41.2%	58.5%	65.1%	43.2%	54.5%	67.6%
Operating margin	8.36%	2.41%	-5.04%	48.3%	36.7%	31%	50.9%	58.6%	31.9%	44%	59.9%
Net margin	-0.86%	-12.8%	-32.2%	33.5%	29.3%	26.2%	44.2%	54.8%	25.5%	40.2%	55.6%
ROE	-0.15%	-2.13%	-5.58%	11.4%	9.78%	7.82%	19.7%	30%	8.62%	17%	28.3%
ROA	-0.08%	-1.18%	-3.13%	6.69%	5.85%	4.48%	10.1%	16.7%	5.07%	10.3%	10.5%
Return on tangible assets	-0.08%	-1.18%	-3.13%	6.69%	5.85%	4.48%	10.1%	16.7%	5.07%	10.3%	16.9%

Financial health

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Current ratio	0.75	1.65	1.04	1.64	1.87	3.25	2.5	3.62	3.54	2.67	3.26
Quick ratio	0.72	1.62	1.01	1.62	1.84	3.22	2.47	3.6	3.52	2.65	3.24
Debt / equity	0.77	0.79	0.76	0.68	0.64	0.73	0.93	0.78	0.68	0.62	0.52
Debt / assets	0.43	0.44	0.43	0.4	0.39	0.42	0.48	0.43	0.4	0.38	0.34
Net debt / EBITDA	9.84	10.7	12.1	2.63	2.8	3.03	2.57	1.24	2.05	1.31	0.78
Interest coverage	0.94	0.26	-0.39	4.46	5.27	4.63	6.74	9.09	3.72	8.25	12.6

Per share

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Revenue per share	3.48	2.97	2.88	6.56	6.35	6.82	9.74	13.9	8.39	11.3	13.6
EPS (basic)	-0.03	-0.38	-0.93	2.08	1.86	1.79	4.31	7.63	2.14	4.55	4.55
EPS (diluted)	-0.03	-0.38	-0.93	2.07	1.86	1.78	4.29	7.6	2.14	4.54	7.54
Book value per share	20.3	17.9	16.7	19.2	19	22.9	21.8	25.4	24.8	26.8	28.9
FCF per share	1.04	1.06	0.09	2.93	3.24	2.38	3.88	8.82	3.66	2.73	3.49
Cash per share	0.35	1.93	0.57	1.25	1.59	5.89	3.72	7.3	7.52	7.69	8
Capex per share	0	0	0	0.39	0.19	1.67	1.72	0.82	0.45	—	—

Capital allocation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Capex / revenue	0.01%	0.09%	0.03%	6.01%	3.01%	24.5%	17.6%	5.86%	5.36%	—	—
Capex / operating cash flow	0.01%	0.19%	1.19%	13.4%	5.43%	47.7%	30.8%	8.43%	11.4%	—	—
Payout ratio	—	—	0%	0%	0%	111.3%	127.9%	52.8%	173.4%	54.2%	39.1%
Dividend yield	—	—	0%	0%	0%	—	27.7%	10.5%	16.6%	7.21%	7.35%

Yield

7.35%

trailing twelve months

Frequency

Quarterly

Last dividend

$1.00

ex-dividend Jul 27, 2026

Payout ratio

39%

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
Jul 27, 2026	$1.00
May 18, 2026	$1.00
Feb 9, 2026	$0.70
Nov 17, 2025	$0.65
Aug 12, 2025	$0.60
May 16, 2025	$0.50
Feb 5, 2025	$0.70
Nov 5, 2024	$1.00

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Revenue	$144.7M	$163.1M	$141.4M	$114.4M	$82.4M	$80.7M	$75.9M	$84.2M	$124.1M	$120M	$153.3M	$187.9M
YoY change	+90.5%	+57.8%	+5.8%	+2.5%	-43%	-50.5%	-46.3%	-26.4%	+50.5%	+48.7%	+102%	+123.1%

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	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Cash & short-term investments	17M	103.5M	31.4M	63.3M	79.3M	236.8M	148.8M	294M	316.9M	327.4M
Receivables	11K	336.2K	1.4M	820.8K	202.2K	853.1K	3.3M	659.6K	1.4M	2M
Inventory	2.6M	2M	2.1M	2M	2M	2.3M	2.6M	2.4M	2.5M	2.4M
Total current assets	64M	135.2M	82.6M	139.6M	153.3M	307.9M	236.3M	368.9M	382.4M	450.3M
Property, plant & equipment	-125M	-189.7M	-254.3M	-292.6M	-367.8M	-383.6M	-460.5M	-500.8M	-392.4M	-504.9M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—
Total assets	1.7B	1.7B	1.6B	1.7B	1.6B	1.6B	1.7B	1.8B	1.8B	1.9B
Accounts payable	7.1M	6.3M	7.2M	13.6M	9.8M	9.5M	10.8M	10.2M	11.5M	8M
Short-term debt	67M	65.9M	64.4M	62.6M	61.6M	80.3M	77M	86.6M	89.8M	147.4M
Total current liabilities	85.8M	82M	79.4M	85M	82.1M	94.8M	94.6M	101.8M	107.9M	168.8M
Long-term debt	684M	694M	632.1M	599.6M	547.7M	590.7M	739M	710.8M	623.2M	562.3M
Total liabilities	770.2M	776.7M	712.7M	694.9M	634.8M	687.2M	835.1M	814.1M	732.6M	732.7M
Shareholders' equity	976M	959.4M	912.7M	977.1M	946.8M	920.2M	873.8M	1B	1B	1.1B
Total debt	751M	759.9M	696.5M	662.1M	609.3M	671M	816.1M	797.3M	713M	709.6M
Net debt	733.9M	656.4M	665.6M	613.7M	530M	434.2M	667.3M	514.8M	396.1M	382.2M

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	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Cash & short-term investments	192M	208.5M	294M	364.9M	358.5M	324.5M	316.9M	277.9M	268.3M	294.5M	327.4M	342.1M
Receivables	1M	2.8M	659.6K	728.1K	1M	990.7K	1.4M	1.6M	2.4M	1.6M	2M	3.6M
Inventory	2.7M	2.6M	2.4M	2.4M	2.4M	2.3M	2.5M	2.4M	2.4M	2.3M	2.4M	2.6M
Total current assets	277.4M	339.3M	368.9M	465.5M	439.5M	415.2M	382.4M	371.7M	381.9M	392.3M	450.3M	719.1M
Property, plant & equipment	-285.2M	-309.1M	-500.8M	208.4M	200.4M	-380.6M	-392.4M	-414.9M	-397.3M	-412.3M	-504.9M	-400.6M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	1.8B	1.8B	1.8B	1.9B	1.9B	1.8B	1.8B	1.7B	1.8B	1.8B	1.9B	1.9B
Accounts payable	12.5M	11.4M	10.2M	8M	10M	9.3M	11.5M	14.1M	6.6M	6.7M	8M	8.7M
Short-term debt	84.8M	85.4M	86.6M	86.7M	87.4M	88.1M	89.8M	89.5M	101.4M	145.6M	147.4M	203.2M
Total current liabilities	105.3M	102.5M	101.8M	101.2M	104M	104.6M	107.9M	111.8M	115M	162.5M	168.8M	220.9M
Long-term debt	753.9M	732.3M	710.8M	689.1M	667.4M	645.4M	623.2M	600.9M	597M	528.1M	562.3M	443M
Total liabilities	860.7M	836.3M	814.1M	791.9M	773M	751.6M	732.6M	714.3M	713.6M	692.1M	732.7M	665.3M
Shareholders' equity	923.3M	984.1M	1B	1.1B	1.1B	1.1B	1B	1B	1.1B	1.1B	1.1B	1.2B
Total debt	838.7M	817.7M	797.3M	775.9M	754.8M	733.5M	713M	690.4M	698.5M	673.6M	709.6M	646.2M
Net debt	646.7M	609.2M	514.8M	422.6M	406.2M	419M	396.1M	412.5M	430.2M	379.1M	382.2M	304.1M

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	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Net income	-1.4M	-20.4M	-50.9M	111.8M	92.6M	71.9M	172.4M	307.4M	90.2M	193.7M
Depreciation & amortization	65.1M	65.3M	65.2M	68.1M	77.7M	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	11M
Change in working capital	10.4M	15.2M	-18.2M	-30M	3.7M	-13.7M	-27.8M	-14.1M	-30.4M	-98M
Operating cash flow	80.9M	72.5M	4M	149.6M	175.2M	141M	223.1M	389.7M	165.8M	210.1M
Capital expenditure	-8.5K	-139.5K	-47.8K	-20M	-9.5M	67.3M	-68.8M	-32.9M	-18.9M	—
Investing cash flow	-69.8K	24.9M	-547.5K	-33.1M	1M	159.2M	-76.3M	-34.8M	-7.4M	0
Dividends paid	—	—	0	0	0	-80.1M	-220.6M	-162.3M	-156.4M	-105M
Share repurchases	-13M	-1.2M	-1.3M	-50.6M	-126.3M	-21.4M	-1.7M	-3.9M	-6.3M	-7M
Financing cash flow	-79.3M	4.7M	-67M	-114.7M	-174.5M	-35.2M	-235.2M	-219.7M	-131.3M	-105.9M
Net change in cash	1.5M	102M	-63.5M	1.8M	1.7M	265.1M	-88.5M	135.1M	27.1M	104.2M
Free cash flow	50.2M	56.8M	4.9M	149M	161.1M	95.5M	155.3M	355.6M	154.1M	116.3M

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	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Net income	76.5M	100M	79.2M	51.3M	9.4M	21.4M	8.1M	10.1M	55.4M	47.2M	81M	138.3M
Depreciation & amortization	30.6M	25.1M	-3.7M	17.2M	17.4M	17.5M	17.6M	18.4M	17.9M	18.1M	17.3M	17.6M
Stock-based compensation	4.2M	1.4M	2M	1.3M	6M	1.7M	1.4M	1.8M	5M	2M	2.3M	2M
Change in working capital	2.7M	-56.2M	47.8M	-36.1M	9.6M	-19.7M	15.8M	-35.6M	-33.3M	3.9M	-33M	-103.2M
Operating cash flow	104M	68.4M	153M	40.3M	50.7M	26.7M	48M	814.5K	46.4M	80.8M	82.1M	30.5M
Capital expenditure	-7.4M	-600K	-24.9M	—	—	-2.8M	-13.3M	-3.1M	—	—	—	—
Investing cash flow	-7.4M	-542.4K	-24.9M	—	—	-3.1M	-3.3M	-3.1M	—	0	0	—
Dividends paid	-41.1M	-40.4M	-40.3M	-40.4M	-43.7M	-42.6M	-29.8M	-21.2M	-26.3M	-27.7M	-29.8M	-42.5M
Share repurchases	-2.4M	-62.9K	-1.2M	0	-4.3M	0	-2M	-1.8M	-2.9M	2.8K	-2.3M	0
Financing cash flow	-56.7M	-53.7M	-54.8M	30.8M	-61.4M	-56M	-44.7M	-37M	-42.7M	-41.2M	-45.6M	-96M
Net change in cash	39.9M	14.1M	73.2M	71.1M	-10.7M	-32.3M	61.7K	-39.2M	3.7M	39.6M	36.6M	-65.5M
Free cash flow	95.3M	70M	129.3M	40M	55.8M	21.4M	36.9M	-2.2M	33.2M	67.4M	18M	30.3M

Dorian LPG Ltd. Financials

EPS

Revenue

Results

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