BWLPG Stock Analysis: BW G | OL
Oil & Gas Midstream | OL, Norway | Market Cap: 37.043m NOK | 12M Return: 72.4% | BMG173841013 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 108M
EPS Trend: -55.8%
Qual. Beats: -1
Rev. Trend: 75.7%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
BW LPG Limited is a Singapore-based investment holding company engaged in ship owning and chartering worldwide, operating through two segments: Shipping and Product Services. The company transports liquefied petroleum gas (LPG) and provides integrated LPG delivery, management services, and wholesale LPG trading, covering much of the LPG value chain from sea transportation to downstream distribution. LPG shipping typically relies on specialized vessels such as Very Large Gas Carriers (VLGCs), which are the standard large-scale carriers used for international LPG trade, serving end-uses such as domestic heating/cooking fuels and petrochemical feedstock.
As of December 31, 2025, the company owned and operated a fleet of 54 vessels, including 28 VLGCs, 7 large gas carriers time chartered in by the product services segment, and 8 VLGCs held through its BW LPG India Pte. Ltd. subsidiary. Founded in 1935 and headquartered in Singapore-a leading global maritime and energy trading hub-BW LPG was originally named BW Gas LPG Holding Limited before adopting its current name in September 2013. The firm is listed on the Oslo Stock Exchange (ticker: BWLPG) and is classified under the Energy sector, specifically within Oil & Gas Storage & Transportation.
- VLGC charter rates recover on India LPG import demand
- Product Services segment margin expands on integrated deliveries
- New VLGC deliveries pressure near-term spot freight rates
| Net Income: 445.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.19 > 0.02 and ΔFCF/TA 24.71 > 1.0 |
| NWC/Revenue: 8.32% < 20% (prev 4.80%; Δ 3.52% < -1%) |
| CFO/TA 0.39 > 3% & CFO 1.33b > Net Income 445.7m |
| Net Debt (-185.5m) to EBITDA (820.5m): -0.23 < 3 |
| Current Ratio: 1.44 > 1.5 & < 3 |
| Outstanding Shares: last quarter (151.8m) vs 12m ago 0.31% < -2% |
| Gross Margin: 23.77% > 18% (prev 20.40%; Δ 3.37% > 0.5%) |
| Asset Turnover: 104.1% > 50% (prev 105.0%; Δ -0.88% > 0%) |
| Interest Coverage Ratio: 13.50 > 6 (EBIT TTM 569.1m / Interest Expense TTM 42.2m) |
| A: 0.09 (Total Current Assets 962.3m - Total Current Liabilities 668.7m) / Total Assets 3.39b |
| B: 0.20 (Retained Earnings 686.8m / Total Assets 3.39b) |
| C: 0.17 (EBIT TTM 569.1m / Avg Total Assets 3.39b) |
| D: 1.44 (Book Value of Equity 1.92b / Total Liabilities 1.33b) |
| Altman-Z'' = 3.87 = AA |
| DSRI: 1.22 (Receivables 426.2m/351.8m, Revenue 3.53b/3.55b) |
| GMI: 0.86 (GM 20.40% / 23.77%) |
| AQI: 0.45 (AQ_t 0.00 / AQ_t-1 0.01) |
| SGI: 0.99 (Revenue 3.53b / 3.55b) |
| TATA: -0.26 (NI 445.7m - CFO 1.33b) / TA 3.39b) |
| Beneish M = -3.33 (Cap -4..+1) = AA |
As of September 27, 2026, the stock is trading at NOK 230.80 with a total of 190,554 shares traded. Over the past week, the price has changed by -5.41%, over one month by +2.80%, over three months by +33.30% and over the past year by +72.39%.
Current recommended Stop Loss: 218.90 (which is 5.2% or 1.4 ATR below the current price).
BW G has no consensus analysts rating.
Market Cap USD = 3.89b (37.0b NOK * 0.10513 NOK.USD)
P/E Trailing = 8.876
P/E Forward = 15.456
P/S = 10.5026
P/B = 2.0693
Revenue TTM = 3.53b USD
EBIT TTM = 569.1m USD
EBITDA TTM = 820.5m USD
Long Term Debt = 611.6m USD (from longTermDebt, last quarter)
Short Term Debt = 202.6m USD (from shortLongTermDebt, last quarter)
Debt = 118.4m USD (Leases only: 118.4m)
Net Debt = -185.5m USD (calculated: Debt 118.4m - CCE 303.9m)
Enterprise Value = 3.71b USD (3.89b + Debt 118.4m - CCE 303.9m)
Interest Coverage Ratio = 13.50 (Ebit TTM 569.1m / Interest Expense TTM 42.2m)
EV/FCF = 5.88x (Enterprise Value 3.71b / FCF TTM 631.0m)
FCF Yield = 17.01% (FCF TTM 631.0m / Enterprise Value 3.71b)
FCF Margin = 17.89% (FCF TTM 631.0m / Revenue TTM 3.53b)
Net Margin = 12.64% (Net Income TTM 445.7m / Revenue TTM 3.53b)
Gross Margin = 23.77% ((Revenue TTM 3.53b - Cost of Revenue TTM 2.69b) / Revenue TTM)
Gross Margin QoQ = 16.73% (prev 28.60%)
Tobins Q-Ratio = 1.09 (Enterprise Value 3.71b / Total Assets 3.39b)
Interest Expense / Debt = 35.62% (Interest Expense 42.2m / Debt 118.4m)
Taxrate = 5.27% (28.1m / 533.0m)
NOPAT = 539.1m (EBIT 569.1m * (1 - 5.27%))
Current Ratio = 1.44 (Total Current Assets 962.3m / Total Current Liabilities 668.7m)
Debt / Equity = 0.06 (Debt 118.4m / totalStockholderEquity, last quarter 1.92b)
Debt / EBITDA = -0.23 (Net Debt -185.5m / EBITDA 820.5m)
Debt / FCF = -0.29 (Net Debt -185.5m / FCF TTM 631.0m)
Total Stockholder Equity = 1.86b (last 4 quarters mean from totalStockholderEquity)
RoA = 13.16% (Net Income 445.7m / Total Assets 3.39b)
RoE = 23.98% (Net Income TTM 445.7m / Total Stockholder Equity 1.86b)
RoCE = 23.04% (EBIT 569.1m / Capital Employed (Equity 1.86b + L.T.Debt 611.6m))
RoIC = 21.19% (NOPAT 539.1m / Invested Capital 2.54b)
WACC = 7.61% (E(3.89b)/V(4.01b) * Re(6.82%) + D(118.4m)/V(4.01b) * Rd(35.62%) * (1-Tc(0.05)))
Discount Rate = 6.82% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -78.13 | Cagr: -2.08%
[DCF] Terminal Value 75.44% ; FCFF base≈631.0m ; Y1≈633.6m ; Y5≈671.2m
[DCF] Fair Price = 69.99 (EV 10.4b - Net Debt -185.5m = Equity 10.6b / Shares 151.8m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: -55.79 | EPS CAGR: -24.52% | SUE: -2.39 | # QB: -1
Revenue Correlation: 75.73 | Revenue CAGR: 6.76% | SUE: 0.55 | # QB: 0
EPS current Quarter (2026-09-30): EPS=1.38 | Chg30d=+9.54% | Revisions=-25% | Analysts=2
EPS current Year (2026-12-31): EPS=4.46 | Chg30d=+4.36% | Revisions=-25% | GrowthEPS=+258.3% | GrowthRev=+67.2%
EPS next Year (2027-12-31): EPS=1.74 | Chg30d=-12.24% | Revisions=-40% | GrowthEPS=-61.1% | GrowthRev=-42.1%
[Analyst] Revisions Ratio: -57% (up=0, down=4)