Dorian LPG Ltd. (LPG) Stock

Dorian LPG Ltd. (LPG) is a Industrials stock trading at $51.31 (as of 2026-08-24), with a market capitalization of $2.20B and a trailing P/E of 8.7. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Dorian LPG Ltd., through its subsidiaries, transports liquefied petroleum gas (LPG) using LPG tankers worldwide. The company owns and operates very large gas carriers (VLGCs) and serves customers requiring worldwide LPG shipping services.

Understand Dorian LPG Ltd.: how it makes money

Dorian LPG Ltd. transports liquefied petroleum gas (LPG) using its own VLGC (very large gas carrier) fleet worldwide, and it makes money by earning time charter equivalent revenues from operating those tankers (including through pools).

The profit engine is the spread between time charter equivalent revenues generated by its VLGC fleet (with high fleet utilization of 97.8%) and the cost of operating and chartering those ships, including time charter-in expense (0.02B).

Business quality (Strong): Strong operational margin (42.8%) alongside very high fleet utilization (97.8%) suggests solid execution, but earnings sensitivity to charter rates and spot exposure (80% to 90%) can amplify volatility.

Valuation: At 9× earnings, LPG trades 50% below the Transportation average (18×). Note: one-time items can distort reported P/E.

Bull case

  • High fleet utilization: Fleet utilization is 97.8%, which typically supports earning levels because more days are productively deployed.
  • Profitability support from core shipping economics: Operating margin is reported at 42.8%, and time charter equivalent revenues are 0.07B.
  • Modern fleet features: The company reports 16 scrubber-fitted vessels (fleet count), which may support operating competitiveness depending on fuel and regulations.

Bear case

  • Spot and contract mix can drive variability: Estimated spot exposure is 90% and spot exposure is 80%, which can make results more sensitive to spot charter rate moves.
  • Cost pressure tied to chartering: Time charter-in expense is 0.02B, so changes in chartering costs relative to time charter equivalent revenues can affect profitability.
Valuation — source: SEC EDGAR (first-party)
Price$51.31
Market Cap$2.20B
P/E Ratio8.7
EV / EBITDA6.9
Price / Book1.78
Price / Sales4.25
DCF Value (model)$54.48
DCF Upside vs Price6.2%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$481.51M
Net Margin40.2%
Revenue Growth (YoY)36.3%
EPS Growth (YoY)112.6%
Financial Health — source: SEC EDGAR
Altman Z-Score2.91 (grey)
Valuation vs Sector & Industry
Stock P/E8.7
Sector P/E (Industrials)26.0
Industry P/E (Transportation)17.0
vs Sector-66.3%
vs Industry-48.5%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($196.48M)
Institutional Holders Tracked10
Company
SectorIndustrials
IndustryTransportation
CEOJohn C. Hadjipateras
Employees577
CountryUS
IPO Date2014-05-08

Related Companies (Transportation; 8 comparable transport companies)

  • Pangaea Logistics Solutions, Ltd. (PANL)
  • Genco Shipping & Trading Limited (GNK)
  • SEACOR Marine Holdings Inc. (SMHI)
  • Himalaya Shipping Ltd. (HSHP)
  • Navios Maritime Partners L.P. (NMM)
  • Nordic American Tankers Limited (NAT)
  • International Seaways, Inc. (INSW)
  • Tidewater Inc. (TDW)
LPG earnings history · LPG institutional & insider holders · LPG KPIs & operating metrics · LPG financials · LPG investor presentations & press releases · LPG SEC filings · LPG peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-24.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.