Dorian LPG (LPG) AI Stock Analysis

• Market Cap: $1.06B
• Dividend Yield: 12.82%
• Average Volume (3M): 474.30K
• Price to Earnings (P/E): 11.1
• Beta (1Y): 1.03
• Revenue Growth: -27.21%
• EPS Growth: -62.22%
• Country: US
• Employees: 577
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Midstream
• EPS (TTM): 1.31
• Shares Outstanding: 42,838,116
• 10 Day Avg. Volume: 439,392
• 30 Day Avg. Volume: 474,296
• PEG Ratio: -0.15
• Price to Book (P/B): 0.90
• Price to Sales (P/S): 2.66
• P/FCF Ratio: 6.11
• Enterprise Value/Market Cap: 1.60
• Enterprise Value/Revenue: 4.71
• Enterprise Value/Gross Profit: 10.03
• Enterprise Value/Ebitda: 8.76
• 1Y Price Target: $30.00
• Price Target Upside: 13.25% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 71 Outperform
• Price Target: $27.00 ▲(1.93% Upside)

Dorian LPG's overall stock score is driven by its strong valuation and positive earnings call highlights, including robust dividend payments and market improvements. While technical indicators suggest bearish momentum, the stock's low P/E ratio and high dividend yield provide significant upside potential. Financial performance is stable, though attention to cash flow management is needed.

Positive Factors

Operational Efficiency

Improved operational efficiency reduces costs, enhancing profitability and providing a competitive edge in the volatile shipping industry.

Market Improvement

Improved market conditions for VLGCs can lead to higher revenue potential, supporting long-term growth and financial stability.

Strong Financial Metrics

Strong cash flow generation enhances liquidity, enabling strategic investments and shareholder returns, crucial for sustaining growth.

Negative Factors

Declining Revenue Growth

Significant decline in revenue growth may indicate challenges in market demand or competitive pressures, impacting future profitability.

Negative Free Cash Flow Growth

Negative free cash flow growth could constrain future investments and limit financial flexibility, affecting long-term strategic initiatives.

Market Volatility

Geopolitical volatility can disrupt operations and revenue predictability, posing risks to consistent financial performance and strategic planning.

Dorian LPG Business Overview & Revenue Model

Company Description

Dorian LPG is a leading owner and operator of very large gas carriers (VLGCs) that transport liquefied petroleum gas (LPG) worldwide. Established in 2013, the company operates in the maritime transportation sector, focusing primarily on the shipping of LPG, which is used for heating, cooking, and as a fuel for vehicles. Dorian LPG has a fleet of modern and efficient vessels, positioning itself as a key player in the global LPG logistics industry, catering to producers, traders, and end-users.

How the Company Makes Money

Dorian LPG generates revenue primarily through the transportation of LPG on its fleet of VLGCs. The company operates under a time charter and spot market model, where it earns income by leasing its vessels to customers for a specified duration (time charters) or by engaging in one-off contracts (spot charters) based on current market rates. Additionally, Dorian LPG may benefit from long-term contracts with major energy companies, providing a stable revenue stream. The company also focuses on operational efficiency and cost management to maximize profitability. Fluctuations in LPG demand, shipping rates, and operational costs significantly influence its earnings, making the company's performance closely tied to global energy market dynamics.

Dorian LPG Financial Statement Overview

Summary

Dorian LPG demonstrates robust revenue growth and maintains a solid balance sheet with moderate leverage. While profitability margins have declined, they remain healthy. Cash flow generation is adequate, though recent negative free cash flow growth warrants attention. Overall, the company is in a stable financial position with opportunities for improvement in profitability and cash flow management.

Income Statement

Dorian LPG shows strong revenue growth with a 12.88% increase in TTM, indicating positive momentum. Gross profit margin is healthy at 36.91%, and net profit margin stands at 15.15%, reflecting solid profitability. However, margins have decreased compared to previous periods, suggesting potential cost pressures.

Balance Sheet

The company's debt-to-equity ratio is 0.67, indicating moderate leverage and a stable financial structure. Return on equity is relatively low at 4.62%, suggesting room for improvement in generating returns for shareholders. The equity ratio is strong, highlighting a solid asset base.

Cash Flow

Operating cash flow to net income ratio is 1.19, showing adequate cash generation relative to earnings. However, free cash flow growth is negative at -5.63%, which could be a concern for future liquidity. The free cash flow to net income ratio is 0.84, indicating a decent conversion of earnings to cash.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	361.39M	353.34M	560.72M	389.75M	274.22M	315.94M
Gross Profit	169.57M	152.69M	365.24M	228.05M	112.99M	147.71M
EBITDA	194.23M	192.98M	414.12M	265.87M	158.19M	191.91M
Net Income	94.92M	90.17M	307.45M	172.44M	71.94M	92.56M
Balance Sheet
Total Assets	1.78B	1.78B	1.84B	1.71B	1.61B	1.58B
Cash, Cash Equivalents and Short-Term Investments	268.30M	316.88M	294.04M	148.80M	236.76M	79.33M
Total Debt	698.47M	712.98M	797.34M	816.09M	670.96M	609.35M
Total Liabilities	713.63M	732.55M	814.12M	835.07M	687.21M	634.79M
Stockholders Equity	1.07B	1.05B	1.02B	873.85M	920.15M	946.83M
Cash Flow
Free Cash Flow	89.24M	154.06M	355.59M	155.27M	95.51M	161.09M
Operating Cash Flow	121.68M	173.01M	388.45M	224.06M	118.70M	170.60M
Investing Cash Flow	-22.65M	-7.36M	-34.80M	-76.34M	68.77M	1.02M
Financing Cash Flow	-180.42M	-131.29M	-219.72M	-235.23M	-35.18M	-174.48M

Dorian LPG Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 26.49
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LPG, the sentiment is Negative. The current price of 26.49 is above the 20-day moving average (MA) of 26.07, below the 50-day MA of 27.47, and above the 200-day MA of 25.25, indicating a bearish trend. The MACD of -0.96 indicates Positive momentum. The RSI at 33.85 is Neutral, neither overbought nor oversold. The STOCH value of 27.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LPG.

Dorian LPG Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FLNG	79 Outperform	$1.36B	13.82	12.79%	11.81%	-3.20%	6.76%
NVGS	79 Outperform	$1.17B	11.89	8.57%	1.24%	2.46%	33.89%
DHT	72 Outperform	$2.07B	10.37	18.81%	5.76%	-16.45%	23.94%
LPG	71 Outperform	$1.06B	11.13	8.81%	12.82%	-27.21%	-62.22%
TNK	68 Neutral	$1.92B	6.17	17.02%	3.59%	-20.11%	-26.44%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
MMLP	42 Neutral	$101.54M	―	―	0.77%	-0.58%	-587.83%

Dorian LPG Corporate Events

Dorian LPG Reports Strong Quarterly Earnings Growth

Dorian LPG Ltd. is a company based in the Marshall Islands, engaged in the transportation of liquefied petroleum gas (LPG) worldwide, primarily operating very large gas carriers (VLGCs) in the shipping industry. The company is known for its focus on owning and operating fuel-efficient and environmentally friendly vessels equipped with advanced technologies.

Dorian LPG’s Earnings Call: Optimism Amid Challenges

Dorian LPG’s recent earnings call painted a picture of cautious optimism, with notable positive developments such as robust dividend payments, improvements in the VLGC market, and enhanced operational efficiency. However, these positives were counterbalanced by challenges including unexpected TCE revenue shortfalls and market volatility. Despite these hurdles, the company’s solid financial position and strategic initiatives suggest a generally positive outlook.

Dorian LPG Announces Irregular Cash Dividend

On November 6, 2025, Dorian LPG Ltd. announced an irregular cash dividend of $0.65 per share, amounting to approximately $27.8 million, payable on December 2, 2025. The company also reported strong financial results for the second quarter of fiscal year 2026, with revenues of $124.1 million and a net income of $55.4 million. The increase in revenues was driven by higher Time Charter Equivalent rates and a record in global seaborne LPG volumes, supported by increased exports from the U.S. and the Middle East.

The most recent analyst rating on (LPG) stock is a Hold with a $31.00 price target. To see the full list of analyst forecasts on Dorian LPG stock, see the LPG Stock Forecast page.

Dorian LPG Re-elects Directors at Annual Meeting

On September 5, 2025, Dorian LPG held its annual meeting of shareholders for the fiscal year ending March 31, 2025. During the meeting, shareholders re-elected John C. Hadjipateras, Malcolm McAvity, and Mark Ross as Class III directors to serve until 2028. Additionally, Deloitte Certified Public Accountants S.A. was ratified as the company’s independent registered public accounting firm for the fiscal year ending March 31, 2026.

The most recent analyst rating on (LPG) stock is a Buy with a $35.00 price target. To see the full list of analyst forecasts on Dorian LPG stock, see the LPG Stock Forecast page.