Want to see NVGS full AI Analyst Report?
Top Page
Navigator Holdings
(NYSE:NVGS)
Select Model
Select Model
Rating:72Outperform
Price Target:
$24.00
â–²(10.55% Upside)
Action:Reiterated
Date:08/05/26
Overall score reflects solid current fundamentals and cash generation, reinforced by a strong, shareholder-return-focused earnings call and improved leverage metrics. These positives are balanced by shipping-cycle sensitivity (revenue/margin variability), higher leverage versus 2024, and a neutral technical setup with limited momentum confirmation.
Positive Factors
Strong cash generation
Sustained operating cash flow (~$188M TTM) and free cash flow (~$141M TTM) provide durable internal funding for dividends, buybacks and capex. Reliable cash conversion underpins capital-allocation policy and reduces reliance on volatile spot markets when funding newbuilds or returning capital.
Negative Factors
Revenue and margin cyclicality
Earnings and free cash flow are sensitive to shipping cycles and charter rates: TTM revenue is slightly down and margins have swung materially year-to-year. Persistent cyclicality reduces predictability of cash returns and makes planning capex, dividends and buybacks dependent on market timing rather than steady structural growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Sustained operating cash flow (~$188M TTM) and free cash flow (~$141M TTM) provide durable internal funding for dividends, buybacks and capex. Reliable cash conversion underpins capital-allocation policy and reduces reliance on volatile spot markets when funding newbuilds or returning capital.
Read all positive factors
Navigator Holdings Key Performance Indicators (KPIs)
Any
Fleet Utilization Rate
Calculates the share of available days that were earning revenue (earning days ÷ available days). A high utilization rate signals strong demand and better revenue conversion from the fleet, while a low rate warns of idle ships and pressure on freight rates.
Calculates the share of available days that were earning revenue (earning days ÷ available days). A high utilization rate signals strong demand and better revenue conversion from the fleet, while a low rate warns of idle ships and pressure on freight rates.
Data provided by:
The Fly
The FlyNavigator Holdings (NVGS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.38B
Dividend Yield1.16%
Average Volume (3M)507.20K
Price to Earnings (P/E)13.6
Beta (1Y)0.97
Revenue Growth-1.33%
EPS Growth28.23%
CountryUS
Employees1,975
SectorEnergy
Sector Strength52
IndustryMarine Shipping
Share Statistics
EPS (TTM)1.64
Shares Outstanding61,721,878
10 Day Avg. Volume424,607
30 Day Avg. Volume507,205
Financial Highlights & Ratios
PEG Ratio0.48
Price to Book (P/B)0.95
Price to Sales (P/S)1.99
P/FCF Ratio17.70
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$26.67Price Target Upside22.83% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)2.14
Revenue Forecast (FY)$525.17M
Navigator Holdings Business Overview & Revenue Model
Company Description
Navigator Holdings Ltd. owns and operates a fleet of liquefied gas carriers worldwide. It engages in the international and regional seaborne transportation of petrochemical gases, liquefied petroleum gases, and ammonia for energy companies, indust...
How the Company Makes Money
Navigator Holdings makes money primarily by chartering its liquefied gas carriers to customers that need to transport LPG and petrochemical gases. Its core revenue stream is freight/charter revenue earned under (a) time charters, where a customer ...
Navigator Holdings Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 17, 2026
Earnings Call Sentiment Positive
The call presents a strongly positive quarter with multiple company records (net income, EBITDA, TCE, terminal throughput) and material balance sheet and capital-return progress (newbuild financing secured, meaningful vessel sales, improved leverage and raised fixed dividend). Near-term cautions include anticipated Q3 normalization in rates and terminal volumes, seasonality, higher voyage/operating costs, and continued geopolitical-driven uncertainty that is causing some counterparties to delay contracting. On balance, the company's operational strength, cash generation, capital returns and executed portfolio/financing actions outweigh the near-term risks.Positive Updates
Record Financial Results
Q2 2026 net income of $53.0M ($0.86 per share), highest in company history vs $21.5M ($0.31) in Q2 2025 (+146% net income, +177% EPS).
Negative Updates
Outlook: Expected Normalization in Q3
Management expects TCE rates and terminal volumes to moderate in Q3 due to seasonality, tighter ethylene arbitrage and European cracker restarts; potential reduction in near-term earnings power versus exceptional Q2.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Financial Results
Q2 2026 net income of $53.0M ($0.86 per share), highest in company history vs $21.5M ($0.31) in Q2 2025 (+146% net income, +177% EPS).
Read all positive updates
Company Guidance
Management guided that Q3 should see a moderation from Q2’s exceptional levels — they expect some normalization in TCE rates and terminal volumes (Q2 average TCE was a record $33,946/day and utilization was 90.8%) but still expect the business to remain cash generative; all‑in cash breakeven is estimated at $21,990/vessel/day (up from $21,230), and they reiterate sensitivity of roughly $17 million of annual EBITDA (or $0.28/share) for each $1,000 change in TCE. Capital allocation guidance: the Board has set a 35% payout policy of net income (Q2 returns comprised a $0.07/share cash dividend ($4.3M) plus planned ~$14.2M of buybacks to total ~$18.5M; the fixed quarterly dividend will rise to $0.08/share from Q3). Balance sheet/liquidity guidance: net debt was $653M with net debt/LTM adjusted EBITDA of 2.2x (down from 2.5x), cash and equivalents $274M at June 30 ($362M at close Aug 3 after a $57.6M draw), ~80% of newbuild financing in place (committed JOLCO $205.8M; up to $121.8M secured term loan at 135bps+SOFR), planned repayment of the ~$91M revolver draw, and expected proceeds from the $183M Unigas sale (net cash ~ $129M and expected book gain $65–70M) to further strengthen flexibility.Navigator Holdings Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
66
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 576.17M | 586.96M | 566.68M | 550.74M | 473.79M | 406.48M |
| Gross Profit | 206.98M | 176.57M | 319.50M | 170.51M | 88.92M | 93.95M |
| EBITDA | 304.90M | 308.63M | 270.42M | 264.71M | 209.26M | 88.77M |
| Net Income | 108.55M | 100.12M | 85.57M | 82.25M | 53.47M | -30.96M |
Balance Sheet | ||||||
| Total Assets | 2.26B | 2.28B | 2.18B | 2.20B | 2.10B | 2.16B |
| Cash, Cash Equivalents and Short-Term Investments | 199.61M | 204.87M | 130.46M | 149.58M | 146.56M | 123.89M |
| Total Debt | 902.97M | 903.05M | 607.20M | 736.73M | 810.54M | 920.50M |
| Total Liabilities | 1.03B | 1.02B | 934.26M | 969.61M | 923.33M | 1.04B |
| Stockholders Equity | 1.20B | 1.23B | 1.21B | 1.19B | 1.16B | 1.11B |
Cash Flow | ||||||
| Free Cash Flow | 140.50M | 65.89M | 169.12M | -17.26M | 84.54M | 94.40M |
| Operating Cash Flow | 188.24M | 219.49M | 210.52M | 174.70M | 130.31M | 97.94M |
| Investing Cash Flow | 41.54M | -94.93M | -100.99M | -176.48M | 35.64M | 33.06M |
| Financing Cash Flow | -169.77M | -58.21M | -126.01M | 6.81M | -134.14M | -66.09M |
Navigator Holdings Technical Analysis
Negative
21.71
Price Trends
21.34
Negative
21.15
Negative
19.54
Positive
Market Momentum
0.06
Positive
45.45
Neutral
15.68
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NVGS, the sentiment is Negative. The current price of 21.71 is above the 20-day moving average (MA) of 21.35, above the 50-day MA of 21.34, and above the 200-day MA of 19.54, indicating a neutral trend. The MACD of 0.06 indicates Positive momentum. The RSI at 45.45 is Neutral, neither overbought nor oversold. The STOCH value of 15.68 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NVGS.
Navigator Holdings Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | $2.75B | 4.66 | 27.73% | 2.64% | 19.33% | 110.30% | |
81 Outperform | $2.03B | 10.42 | 17.91% | 8.72% | 36.27% | 109.57% | |
78 Outperform | $2.99B | 9.01 | 29.14% | 7.97% | 4.66% | 85.89% | |
72 Outperform | $1.38B | 13.63 | 8.94% | 1.20% | -1.33% | 28.23% | |
71 Outperform | $1.66B | 22.29 | 10.36% | 9.72% | -4.20% | -26.95% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
62 Neutral | $4.99B | 35.62 | 7.49% | 2.06% | 81.68% | 5160.46% |
* Energy Sector Average
NVGS
Navigator Holdings
20.87
5.33
34.26%
DHT
DHT Holdings
18.35
7.72
72.59%
GLNG
Golar LNG
51.02
10.58
26.17%
TNK
Teekay Tankers
77.09
32.24
71.90%
LPG
Dorian LPG
44.38
17.27
63.70%
FLNG
FLEX LNG
31.02
8.27
36.36%
Navigator Holdings Corporate Events
Navigator Holdings Files Q2 2026 Form 6-K Detailing Performance and Strategic Risks
Aug 4, 2026
Navigator Holdings has filed a Form 6-K report for the quarter ended June 30, 2026, providing management’s discussion and analysis and unaudited condensed consolidated financial statements. The filing covers operating performance over the th...
Navigator Holdings Secures $121.8 Million Loan for Ammonia-Fuelled Carriers
Aug 3, 2026
Navigator Holdings has secured a key piece of financing for its ammonia-focused fleet expansion, underscoring its role as a major player in liquefied gas shipping and its push into low-carbon marine fuels. The company, through its Navigator Amon j...
Navigator Gas Sells Eight LNG Carriers and Unigas Stake in $183 Million Fleet Reshuffle
Jul 14, 2026
On July 13, 2026, Navigator Gas signed definitive agreements to sell eight liquefied gas carriers and its shareholding in the Unigas International joint venture to existing pool partners Bernhard Schulte Investment Holding and Sloman Neptun for ab...
Navigator Holdings Secures $205.8 Million JOLCO Financing for Two Newbuild Gas Carriers
Jun 18, 2026
Navigator Holdings announced on June 18, 2026, that subsidiaries have secured a financing package for two newbuild gas carriers being constructed in China under 2024 shipbuilding contracts, with delivery scheduled for 2027. To cover construction-s...
Navigator Holdings Shareholders Back Board Slate and Auditor at 2026 AGM
Jun 15, 2026
On June 15, 2026, Navigator Holdings, the liquefied gas shipping group listed in New York, held its 2026 Annual General Meeting of Shareholders in New York City. Investors approved all items on the agenda, reinforcing continuity in the boardroom a...
Navigator Holdings Sets June 15 Date for 2026 Annual Shareholder Meeting in New York
May 11, 2026
Navigator Holdings has called its 2026 Annual General Meeting of Shareholders for June 15, 2026, at Baker Botts’ offices in New York, setting May 4, 2026 as the record date and mailing the notice, proxy statement and related materials on or ...
Navigator Holdings Files Q1 2026 Form 6-K Highlighting Market Risks and Strategic Initiatives
May 6, 2026
Navigator Holdings Ltd. has filed its Form 6-K report for the quarter ended March 31, 2026, providing management’s discussion and analysis of financial condition and results, along with unaudited condensed consolidated financial statements. ...
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.