BW LPG Limited

BW LPG Limited

BWLP
BW LPG LimitedUS flagNew York Stock Exchange
24.86
USD
+0.25
- -
3.77BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
3.3
5.49
5.81
3.71
3.47
3.72
5.89
5.87
8.93
11.56
22.37
26.67
23.65
23.29
Basic EPS, GAAP
0.92
1.87
2.43
0.18
-0.3
-0.51
1.97
1.76
1.33
1.69
3.57
2.65
1.6
2.94
Free Cash Flow per Basic Share
-2.26
1.47
-0.35
0.09
-0.12
0.55
2.25
2.4
0.86
3.41
3.01
1.1
2.54
4.17
Dividend per Share
- -
0.91
1.93
0.77
- -
- -
0.43
0.92
0.72
0.94
3.08
2.91
1.32
1.86
Book Value per Share
7.08
8.06
8.52
7.83
7.56
7.06
8.49
9.06
10.02
11.07
11.21
11.91
12.09
12.64
Tangible Book Value per Share
6.92
7.93
8.43
7.77
7.54
7.06
8.49
9.05
10.01
11.06
11.2
11.91
12.09
12.64
Basic Weighted Avg Shares
136
136
133
137
142
140
139
138
139
135
132
134
151
151
Sales/Revenue/Turnover
449
747
773
506
492
522
817
812
1,241
1,558
2,947
3,564
3,582
3,527
Operating Margin (%)
17.08
35.99
44.68
21.74
-0.38
0.65
33.06
30.85
12.35
15.9
16.35
11.54
8.15
15.42
Depreciation Expense
59
71
85
99
127
101
126
152
154
159
218
202
256
251
Net Income, GAAP
125
255
324
24
-43
-71
274
244
185
227
470
354
242
446
Effective Tax Rate (%)
- -
0.27
0.23
0.98
- -
- -
0.85
0.2
0.28
0.45
2.18
7.08
4.67
5.27
Profit Margin (%)
27.77
34.06
41.89
4.79
-8.68
-13.68
33.51
30.04
14.89
14.59
15.95
9.94
6.76
12.64
Working Capital
102
61
31
-331
-29
16
118
118
233
246
223
68
223
294
LT Debt
503
470
767
980
1,076
1,101
1,091
874
746
469
278
772
803
666
Total Equity
975
1,081
1,171
1,117
1,074
984
1,177
1,252
1,386
1,597
1,586
1,937
1,926
2,055
Return on Invested Capital (%)
8.58
16.8
18.79
4.75
- -
- -
11.45
10.5
6.71
10.8
21.1
14.45
9.21
16.98
Return on Capital (%)
14.45
16.52
18.46
2.28
- -
- -
14.15
12.08
9.73
10.78
21.24
12.61
8.15
14.14
Return on Common Equity (%)
- -
25
29.02
2.14
-3.92
-6.95
25.35
20.08
14.09
15.96
31.9
21.64
13.33
24.19

Capital Structure

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
187
173
267
LT Borrowings
730
663
612
LT Finance Leases
73
61
54
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
151
152
152
Market Capitalization
1,983
2,637
2,646

Working Capital

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
644
863
962
Cash, Cash Equivalents & STI
255
288
306
Accounts Receivable, Net
231
178
426
Inventories
124
107
174
Total Current Liabilities
421
587
669
Payables & Accruals
204
223
341
ST Debt
187
173
267
Deferred Revenue
6
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
5.6%
9.36%
-0.62%
Free Cash Flow
-31.19%
61.15%
162.11%
Net Income, GAAP
-74.63%
9.86%
-31.61%
Sales/Revenue/Turnover
21.37%
37.81%
0.52%
Total Cash Common Dividend
- -
34.64%
-48.55%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,038
876
805
844
3,564
2025
862
1,044
944
732
3,582
2026
839
1,012
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.07
0.58
0.79
0.22
2.65
2025
0.3
0.23
0.38
0.69
1.6
2026
1.08
0.79
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.9
0.99
0.58
0.44
2.91
2025
0.42
0.28
0.22
0.4
1.32
2026
0.57
0.67
- -
- -
- -

Company Description

CEO
Kristian Sorensen
Full Time Employees
1,444
Sector
Industrials
Industry
Marine Shipping
Address
10 Pasir Panjang Road No. 17-02,Mapletree Business City Singapore CE Singapore 117438
IPO Date
Jan 28, 2014
Website
bwlpg.com
Business
BW LPG Limited (OSE: BWLPG, NYSE: BWLP), founded in 1935 and headquartered in Singapore, ranks as the world's leading owner and operator of liquefied petroleum gas (LPG) shipping vessels, owning and operating over 50 very large gas carriers (VLGCs) with a total capacity exceeding 4 million cubic meters; the company provides integrated LPG services through its Shipping segment, which focuses on the transportation of LPG via VLGCs including the largest fleet of LPG dual-fuel propelled vessels (22 units) for low-emission operations, its Product Services division offering reliable LPG purchasing, delivery, and trading to global customers from offices in Singapore, Oslo, Madrid, and Houston following the 2022 acquisition of Vilma Oil's LPG trading operations, and its Infrastructure segment involving investments in onshore LPG terminals and distribution; BW LPG serves international markets transporting cleaner-burning LPG from producers to consumers worldwide with a balanced chartering strategy targeting 35-40% fleet coverage via time charters and freight forward agreements. In late 2024, BW LPG completed the acquisition of 12 modern VLGCs from Avance Gas for USD 1.05 billion, expanding its owned fleet by 40% to 53 vessels through a mix of cash, lease novations, and new share issuance increasing total shares by 15%, with the final vessel BW Avior delivered on December 31, 2024; the company secured USD 595 million in financing facilities for fleet expansion and debt refinancing, including a USD 215 million loan to BW LPG India in July 2025 for refinancing and purchasing two additional VLGCs (BW Pampero and BW Chinook) to support growth in the Indian LPG market; BW Product Services reported a Q3 2025 realized trading gain of USD 15 million amid market volatility.

Company News

  • Shipping stocks at a crossroads amid their best rally in decades

  • BW LPG Successfully Places a USD 300 Million Offering of Senior Unsecured Convertible Bonds

  • BW LPG Launches Approximately USD 300 Million Senior Unsecured Convertible Bond Offering

  • BW LPG Limited (BWLP) Q2 2026 Earnings Call Transcript

  • BW LPG Q2 Earnings Call Highlights

  • BW LPG Limited -- Financial Results for Q2 2026

  • BW LPG Limited – Financial Results for Q2 2026

  • Readers Flag 31 Ideal 'Safer' Dividend Buys In July

  • Buy 9 August Dividend Power Dogs

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  • BW LPG: The Most Benefited From The Strait of Hormuz Closure Despite Increasing Risks

  • Is BW LPG Ltd (BWLP) Overvalued After 3.2% Rally? GF Value Says Overvalued

  • BW LPG Limited Announces Sale of BW Elm

  • Dividend Power: 6 'Safer' Ideal Dogs To Buy In July

  • BW LPG: I Timed The Dip Perfectly, Now What (Rating Upgrade)

  • 13 Lucky Dogs: June Graham Value All-Stars (GVAS)

  • BW LPG: The Rally Was Earned, And The Dividend Case Still Holds

  • BW LPG Exits Investment in Confidence Petroleum India Following Sale of 8.50% Equity Stake

  • BW LPG Limited (BWLP) Q1 2026 Earnings Call Transcript

  • BW LPG Q1 Earnings Call Highlights