Education
About Us
Working with TipRanks
Follow Us
Dorian LPG (LPG)
NYSE:LPG
Top Page
Dorian LPG
(NYSE:LPG)
Select Model
Select Model
Rating:66Neutral
Price Target:
$27.00
▲(1.93% Upside)
Dorian LPG's overall stock score is driven by its strong financial performance and attractive valuation, supported by a solid dividend yield. However, technical indicators suggest a bearish trend, which, along with some challenges noted in the earnings call, tempers the overall score.
Dorian LPG (LPG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.03B
Dividend Yield13.08%
Average Volume (3M)474.30K
Price to Earnings (P/E)10.8
Beta (1Y)1.00
Revenue Growth-27.21%
EPS Growth-62.22%
CountryUS
Employees577
SectorN/A
Sector StrengthN/A
IndustryOil & Gas Midstream
Share Statistics
EPS (TTM)1.31
Shares Outstanding42,838,116
10 Day Avg. Volume439,392
30 Day Avg. Volume474,296
Financial Highlights & Ratios
PEG Ratio-0.15
Price to Book (P/B)0.90
Price to Sales (P/S)2.66
P/FCF Ratio6.11
Enterprise Value/Market Cap1.66
Enterprise Value/Revenue4.71
Enterprise Value/Gross Profit10.03
Enterprise Value/Ebitda8.76
Forecast
1Y Price Target
$30.00Price Target Upside13.25% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Dorian LPG Business Overview & Revenue Model
Company DescriptionDorian 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 MoneyDorian 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 Earnings Call Summary
Earnings Call Date:Nov 06, 2025
(Q2-2026)
| % Change Since: |
Next Earnings Date:Jan 29, 2026
Earnings Call Sentiment Positive
The earnings call presented positive developments such as strong dividend payments, market improvements, and operational efficiency. However, these were tempered by challenges like unexpected TCE revenue shortfalls and market volatility. Despite these issues, the company's strong financial position and strategic initiatives reflect a generally positive outlook.Q2-2026 Updates
Positive Updates
Dividend Declaration
Dorian LPG declared a dividend of $0.65 per share totaling $27.8 million, marking their 17th dividend payment, with total dividends distributed reaching over $695 million and total capital returned to shareholders at almost $925 million.
VLGC Market Improvement
The VLGC market improved in the third calendar quarter, with the Baltic Index averaging $68,000 per day, up from $48,000 in the second quarter and $33,000 in the first quarter, more than doubling from the start of the year.
Record Seaborne LPG Liftings
Global seaborne LPG liftings reached a record high of 37.21 million tons, supported by record quarterly exports from North America and Saudi Arabia.
Strong Financial Metrics
The company achieved TCE revenue per available day of $53,725, generated over $30 million in free cash flow to equity during the quarter, and reported adjusted EBITDA of $85.7 million.
Operational Efficiency
Daily OpEx for the quarter was down over 6% from the prior quarter, reflecting efficient cost management by the technical management team.
Negative Updates
Unrealized TCE Revenue
Despite strong market conditions, the realized TCE revenue was lower than expected due to timing discrepancies, dry docking days, and other accounting factors.
Market Volatility
The VLGC market faced volatility due to geopolitical factors, including increased Panama Canal congestion and repositioning due to U.S. port service fees.
Dry Docking Impact
An unusually large number of dry docks due to 5- and 7.5-year docking cycles affected operational availability and financial metrics.
Company Guidance
During the Dorian LPG Second Quarter 2026 Earnings Conference Call, significant financial metrics and operational updates were provided. The company declared a $0.65 per share dividend, totaling $27.8 million, marking its 17th dividend payment and bringing total dividends to over $695 million and total capital returned to almost $925 million. The VLGC market saw improvements, with the Baltic Index averaging $68,000 per day, peaking at just under $80,000 in mid-August. Dorian LPG achieved a TCE revenue per available day of $53,725, generating over $30 million in free cash flow to equity. The fleet's operational expenses were $9,474 per day, excluding dry docking costs, and the adjusted EBITDA was reported at $85.7 million. The company's debt stood at $530 million, with a net debt to total capitalization ratio of 16.4%. Dorian LPG also focused on energy efficiency, noting scrubber vessel savings of $1,363,000 and highlighted its commitment to sustainability with ongoing investments in fuel efficiency and emission reductions.Dorian LPG Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
70
Positive
Cash Flow
65
Positive
| Breakdown |
|---|
Income Statement |
| Total Revenue |
| Gross Profit |
| EBITDA |
| Net Income |
Balance Sheet |
| Total Assets |
| Cash, Cash Equivalents and Short-Term Investments |
| Total Debt |
| Total Liabilities |
| Stockholders Equity |
Cash Flow |
| Free Cash Flow |
| Operating Cash Flow |
| Investing Cash Flow |
| Financing Cash Flow |
Dorian LPG Technical Analysis
Negative
26.49
Price Trends
26.13
Negative
28.30
Negative
25.57
Negative
Market Momentum
-0.48
Negative
35.48
Neutral
25.35
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 24.66, above the 50-day MA of 26.13, and above the 200-day MA of 25.57, indicating a bearish trend. The MACD of -0.48 indicates Negative momentum. The RSI at 35.48 is Neutral, neither overbought nor oversold. The STOCH value of 25.35 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
UnderperformOutperform
Sector (―)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| ― | ― | ― | ― | ― | ― | ― | |
79 Outperform | $1.29B | 13.37 | 12.79% | 12.31% | -3.20% | 6.76% | |
79 Outperform | $1.13B | 11.51 | 8.57% | 1.27% | 2.46% | 33.89% | |
78 Outperform | $141.74M | 2.50 | 12.11% | 5.08% | 4.34% | 18.88% | |
68 Neutral | $1.86B | 5.98 | 17.02% | 3.72% | -20.11% | -26.44% | |
66 Neutral | $1.03B | 10.77 | 8.81% | 13.08% | -27.21% | -62.22% | |
62 Neutral | $1.47B | 20.63 | 11.24% | 6.93% | 4.10% | -36.72% |
* Sector Average
LPG
Dorian LPG
24.14
1.78
7.96%
GLP
Global Partners
42.85
-2.38
-5.26%
TNK
Teekay Tankers
53.86
16.39
43.74%
NVGS
Navigator Holdings
17.27
2.40
16.14%
DLNG
Dynagas LNG Partners
3.88
-1.24
-24.22%
FLNG
FLEX LNG
24.34
5.05
26.18%
Dorian LPG Corporate Events
DividendsFinancial Disclosures
Dorian LPG Announces Irregular Cash Dividend
Positive
Nov 6, 2025
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.
Executive/Board ChangesShareholder Meetings
Dorian LPG Re-elects Directors at Annual Meeting
Neutral
Sep 11, 2025
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.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.