Dorian LPG
Operates VLGCs carrying LPG through the Helios Pool and global charter markets.
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Profile
Transports LPG worldwide with owned and time-chartered-in VLGCs, earning mainly through vessels deployed in the Helios LPG Pool across spot voyages, contracts of affreightment, and time charters. Its single-segment model is closely tied to VLGC freight rates, trade routes, and vessel availability.
Transports liquefied petroleum gas worldwide using owned and time-chartered-in very large gas carriers, serving energy companies, commodity traders, and importers. Voyages link major export hubs in the United States and Arabian Gulf with markets in Asia and Europe.
Runs commercial management in-house and technical management for vessels other than those chartered in, while deploying the fleet through the Helios LPG Pool, spot voyages, contracts of affreightment, and time charters. Pool participants share net revenue under a formula tied to vessel characteristics.
Earnings depend on VLGC freight rates, vessel availability, charterer performance, trade flows, canal and strait access, fuel costs, and maritime environmental rules. Operations form a single reportable segment focused exclusively on international LPG transportation.
Company facts
Categories
Key statistics
Year to date +101% · Average volume (30d) 578.6K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| May 22, 2026 | Jefferies | Reiterate | Buy | $42 | $55 | |
| May 22, 2026 | Freedom Broker | Downgrade | Buy | Hold | ||
| Apr 24, 2026 | Jefferies | Target | $25 | $42 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q1 FY27 | $2.12 | $2.52 | +18.9% | $160.8M | $187.9M | +16.9% | −1.08% |
| May 20, 2026Q4 FY26 | $1.41 | $1.89 | +34.0% | $128.9M | $153.3M | +18.9% | −3.96% |
| Feb 5, 2026Q3 FY26 | $1.15 | $1.11 | −3.5% | $116.3M | $120.0M | +3.1% | +7.62% |
| Nov 6, 2025Q2 FY26 | $1.45 | $1.31 | −9.7% | $120.9M | $120.6M | −0.2% | +2.28% |
Financial highlights
| 12 quarters | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|
| Revenue | $75.9M | $84.2M | $120.6M | $120.0M | $153.3M | $187.9M | |
| Gross profit | $22.3M | $31.9M | $85.2M | $61.4M | $96.5M | $125.4M | |
| Operating income | $14.7M | $15.6M | $59.3M | $50.6M | $83.2M | $142.7M | |
| Net income | $8.1M | $10.1M | $55.4M | $47.2M | $81.0M | $138.3M | |
| Diluted EPS | $0.19 | $0.24 | $1.30 | $1.11 | $1.90 | $3.24 | |
| Gross margin | 29.4% | 37.8% | 70.6% | 51.2% | 63.0% | 66.7% | |
| Operating margin | 19.4% | 18.5% | 49.2% | 42.2% | 54.3% | 75.9% |
Fiscal years (4-quarter sums)FY22 $274.2M · FY23 $389.7M · FY24 $560.7M · FY25 $353.3M · FY26 $478.1M
Balance sheet, Jun 30, 2026Cash & short-term investments $342.1M · Total debt $646.2M · Total assets $1.90B · Shareholders' equity $1.24B
Dividends
To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 27, 2026 | Jul 27 | Aug 12 | $1.00 | |
| May 18, 2026 | May 18 | May 28 | $1.00 | special dividend |
| Feb 9, 2026 | Feb 9 | Feb 24 | $0.70 | special dividend |
| Nov 17, 2025 | Nov 17 | Dec 2 | $0.65 | special dividend |
| Aug 12, 2025 | Aug 12 | Aug 27 | $0.60 | special dividend |
| May 16, 2025 | May 16 | May 30 | $0.50 | special dividend |
| Feb 5, 2025 | Feb 5 | Feb 27 | $0.70 | special dividend |
| Nov 5, 2024 | Nov 5 | Nov 25 | $1.00 | special dividend |
Ownership
Shares outstanding 42.78M · Float 36.78M · 86.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 5.97M | 13.95% | 13F | Aug 7, 2026 |
| Pacer US Small Cap Cash Cows ETF | 4.12M | 9.64% | 13G | May 2, 2025 |
| Dimensional Fund Advisors LP | 2.62M | 6.12% | 13F | Aug 11, 2026 |
| John C. Hadjipateras · director, 10 percent owner, officer: President and CEO | 2.04M | 4.76% | Form 4 | Aug 7, 2026 |
| American Century Companies Inc | 1.67M | 3.90% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 11, 2026 | Tim Truels Hansen | officer: Chief Commercial Officer | −25,000 | $45.04 |
| Jun 30, 2026 | Tim Truels Hansen | officer: Chief Commercial Officer | −20,000 | $35.38 |
| Jun 11, 2026 | Christina Tan | director | −5,708 | $44.08 |
| May 22, 2026 | Ted Kalborg | director | −15,373 | $45.06 |
| Apr 9, 2026 | John Lycouris | director, officer: Head of Energy Transition | −7,000 | $35.72 |
Peers
- BW LPG
Closest listed VLGC pure-play with larger LPG shipping scale
- Navigator Gas
Listed handysize gas carrier peer in LPG and ammonia trades
- StealthGas
Public LPG carrier owner focused on smaller gas vessels
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Dorian LPG | $49.71 | −0.07% | $2.13B | 6.6 | 7.5 | 3.7 | +123.1% |
| BW LPG | $23.94 | +0.13% | $3.63B | 10.0 | 7.1 | 1.0 | −73.7% |
| Navigator Gas | $22.06 | 0.00% | $1.36B | 10.2 | 13.7 | 2.2 | +29.6% |
| StealthGas | $9.65 | +1.58% | $352.9M | 5.5 | 5.4 | 2.0 | +2.0% |
| Median | 10.0 | 7.1 | 2.0 | +2.0% |