BW LPG BWLPG.OL
SingaporeEnergy · Oil & Gas MidstreamEuronext Oslo Børs · NOK
245.58 NOK (−1.1%)
4 analysts
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BW LPG is the world's largest maritime LPG carrier, with a fleet of Very Large Gas Carriers (VLGC) transporting liquefied petroleum gas globally, generating revenue from freight.
Listed on Euronext Oslo Børs · Symbol BWLPG.OL · OB: BWLPG · Currency NOK
Key points
from its scores- ✓Good share-price trend9.7
- ✓Attractive dividend8.9
- ✓Favourable backdrop8.9
AI analysis
bottom line, main risk, context and newsValuation is attractive and the balance sheet is solid, but the risk of a cyclical peak and exposure to critical shipping routes like Ormuz justify not adding to the position.
BW LPG shows solid financial health (ND/EBITDA 0.92) and attractive valuation (P/E 8.57, FCF yield 9.98%), but the 243.5% earnings growth and 13.78% operating margin indicate it is at the peak of the LPG freight cycle, making the 10% dividend vulnerable to market normalization.
The main risk is the reversal of the LPG freight cycle: current earnings, boosted by 243.5% growth, could normalize quickly if the Ormuz blockade is resolved, impacting the dividend and valuation.
Context and risks
BW LPG is a maritime LPG carrier based in Singapore, a country with solid governance but with exposure to high-risk shipping routes. The Strait of Ormuz, blocked since February 2026, is a critical route for LPG trade and the escalation risk is asymmetric: a sudden agreement could sink freight rates and the stock price, which trades at the 99th percentile of its 52-week range.
Is BW LPG stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades 31% below the Energy median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 8.6 | 15.7 | −45% |
| EV / EBITDA | 6.7 | 8.0 | −17% |
| Price / book | 2.2 | 2.2 | −4% |
| Price / sales | 1.1 | 1.9 | −42% |
Sector: median of the 102 Energy companies analysed. In bold, the multiples used for the comparison.
Valuation score: 7.9 out of 10 (median for Energy: 5.9).
Average analyst target: 245.58 NOK, −1.1% versus the price.
A discount may reflect more risk or slower growth than its sector: Financial health 7.0 (sector 6.8), Growth 6.1 (sector 7.2).
Classic formulas with standard assumptions (0.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Energy medianValuation
- P/E
- 8.6
- Forward P/E
- 13.0
- EV / EBITDA
- 6.7
- Price / book
- 2.2
- Price / sales
- 1.1
- PEG
- 0.37
- Market cap
- 37.7B NOK
- Enterprise value
- 4.6B USD
Profitability
- ROE
- 25.5%
- ROA
- 10.0%
- ROIC (approx.)
- 17.6%
- Gross margin
- 25.2%
- Operating margin
- 13.8%
- Net margin
- 12.6%
- Free cash flow
- 392.9M USD
- FCF yield
- 10.0%
- Cash conversion
- 58%
Solvency
- Total debt
- 932.6M USD
- Net debt
- 626.5M USD
- Cash
- 306.2M USD
- EBITDA
- 681.3M USD
- Net debt / EBITDA
- 0.92
- Debt / equity
- 45.39
- Current ratio
- 1.44
- Quick ratio
- 1.11
Growth
- Revenue growth
- −3.1%
- Earnings growth
- +243.5%
- EPS (TTM)
- 28.95 NOK
- EPS (forward)
- 19.16 NOK
Dividend
- Dividend yield
- 10.0%
- Payout
- 63.3%
Risk and market
- Beta
- 0.10
- Analyst consensus
- Buy (4)
- Target price
- 245.58 NOK
- 52-week range
- 117.80 – 249.60
Recent news
All BWLPG.OL news →Compare it with its sector
All 102 in Energy →Frequently asked questions about BW LPG
Is BW LPG stock cheap or expensive?
On P/E and EV / EBITDA, it trades 31% below the Energy median on average. Valuation score: 7.9 out of 10 (median for Energy: 5.9). Average analyst target: 245.58 NOK, −1.1% versus the price. This is not investment advice.
What score does BW LPG get on MeridIAn Screener?
It scores 7.9 out of 10, rank 12 of 2,130 (better than 99% of the companies analysed). Its strongest category is Momentum (9.7) and its weakest, Growth (6.1). Analysis of 08/10/2026.
What is BW LPG's P/E ratio?
Its P/E is 8.6: the share price equals 8.6 times earnings per share over the last 12 months. The Energy median is 15.7. Based on the earnings analysts expect, the forward P/E is 13.0.
How much is BW LPG worth on the stock market?
Its market capitalisation is 37.7B NOK and its enterprise value, debt included, is 4.6B NOK.
How much debt does BW LPG have?
Its net debt (debt minus cash) is 626.5M USD. That is 0.92 times its EBITDA; the Energy median is 1.23.
Does BW LPG pay a dividend?
Yes: its dividend yield is 10.04% and it pays out 63% of its earnings.
How has BW LPG stock performed over the last year?
It has risen 98.6% over the last year, excluding dividends. Over the last 52 weeks it has traded between 117.80 and 249.60 NOK. Past performance does not guarantee future results.
What do analysts think of BW LPG?
4 analysts cover it; their average recommendation is “Buy” and their average target is 245.58 NOK (−1.1% versus the price). It is an estimate, not market data.