Navigator Gas
Transports LPG, petrochemical gases, ammonia and ethane on specialized liquefied gas carriers.
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Profile
Owns and operates specialized liquefied gas carriers serving LPG, petrochemical gases, ammonia and ethane markets, with revenue from charters, affreightment contracts and pool arrangements. The business pairs a mostly international shipping network with a half-owned ethylene export terminal in Texas.
Owns and operates a 57-vessel liquefied gas carrier fleet built around handysize ships, midsize carriers and smaller semi-refrigerated vessels. Cargoes include LPG, petrochemical gases, ammonia, ethane and ethylene, with vessel employment spread across time charters, voyage charters, contracts of affreightment and the Unigas Pool.
Operations are international and tied especially to North American export flows, including a half-owned ethylene export terminal at Morgan's Point, Texas. Semi-refrigerated vessel capability lets the fleet serve industrial gases and ports that larger carriers may not fit.
Execution depends on safety, crew capability, vessel flexibility, charter pricing, customer concentration and demand from energy, chemical and trading customers.
Company facts
Categories
Key statistics
Year to date +27.1% · Average volume (30d) 402.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Target |
|---|---|---|---|
| Sep 25, 2025 | Deutsche Bank | Target | $24 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $0.53 | $0.85 | +61.0% | $139.5M | $167.9M | +20.4% | −3.92% |
| May 6, 2026Q1 FY26 | $0.34 | $0.50 | +47.1% | $139.4M | $140.6M | +0.9% | +0.93% |
| Mar 11, 2026Q4 FY25 | $0.39 | $0.32 | −17.9% | $139.9M | $139.5M | −0.3% | −11.55% |
| Nov 4, 2025Q3 FY25 | $0.36 | $0.36 | 0.0% | $138.3M | $153.1M | +10.7% | +3.36% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $151.4M | $129.6M | $153.1M | $152.8M | $140.6M | $167.9M | |
| Gross profit | $49.5M | $32.2M | $83.7M | $49.4M | $41.7M | $61.1M | |
| Operating income | $39.5M | $20.4M | $52.9M | $40.0M | $31.4M | $47.8M | |
| Net income | $27.0M | $21.5M | $33.2M | $18.5M | $35.5M | $53.0M | |
| Diluted EPS | $0.39 | $0.31 | $0.50 | $0.28 | $0.54 | $0.85 | |
| Gross margin | 32.7% | 24.9% | 54.7% | 32.3% | 29.6% | 36.4% | |
| Operating margin | 26.1% | 15.8% | 34.5% | 26.2% | 22.3% | 28.5% |
Fiscal years (4-quarter sums)FY21 $406.5M · FY22 $473.8M · FY23 $550.7M · FY24 $566.7M · FY25 $587.0M
Revenue by product · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $273.8M · Total debt $926.1M · Total assets $2.32B · Shareholders' equity $1.24B
Dividends
Last raised to $0.07 from $0.05 in Nov 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 19, 2026 | Aug 19 | Sep 1 | $0.07 | |
| May 20, 2026 | May 20 | Jun 10 | $0.07 | |
| Mar 23, 2026 | Mar 23 | Mar 31 | $0.07 | |
| Nov 25, 2025 | Nov 25 | Dec 16 | $0.07 | raised from $0.05 |
| Aug 28, 2025 | Aug 28 | Sep 17 | $0.05 | |
| May 29, 2025 | May 29 | Jun 17 | $0.05 | |
| Mar 24, 2025 | Mar 24 | Apr 3 | $0.05 | |
| Nov 25, 2024 | Nov 25 | Dec 17 | $0.05 |
Ownership
Shares outstanding 61.72M · Float 26.77M · 43.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BW Group Ltd | 4.76M | 7.70% | 13D | Jul 31, 2026 |
| Acadian Asset Management LLC | 1.69M | 2.74% | 13F | May 13, 2026 |
| BlackRock, Inc. | 1.49M | 2.41% | 13F | May 13, 2026 |
| First Manhattan Co. LLC. | 1.33M | 2.15% | 13F | May 15, 2026 |
| Encompass Capital Advisors LLC | 1.03M | 1.68% | 13F | May 15, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 20, 2026 | Oeyvind Lindeman | officer: Chief Commercial Officer | −7,500 | $21.68 |
| Aug 12, 2026 | Peter George Charles Andrew Stokes | director | −5,000 | $20.28 |
| May 29, 2026 | Oeyvind Lindeman | officer: Chief Commercial Officer | −6,259 | $21.70 |
| May 20, 2026 | Michael Schroder | officer: Chief Operating Officer | −25,000 | $23.63 |
Peers
- StealthGas
Small and handysize LPG carrier owner with petchem overlap
- BW LPG
Large-scale VLGC owner and LPG trading platform
- Dorian LPG
NYSE-listed VLGC owner with LPG and ammonia-carrier exposure
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| 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% |
| BW LPG | $23.94 | +0.13% | $3.63B | 10.0 | 7.1 | 1.0 | −73.7% |
| Dorian LPG | $49.71 | −0.07% | $2.13B | 6.6 | 7.5 | 3.7 | +123.1% |
| Median | 6.6 | 7.1 | 2.0 | +2.0% |