DORIAN LPG LTD. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data DORIAN LPG LTD. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	167	159	158	333	316	274	390	561	353	482
General and administrative	21.7	26.2	24.4	23.4	33.9	30.2	32.1	39	42.6	53
Operating income	14	3.84	-7.96	161	116	92.4	198	329	113	210
Interest expense	24.7	27.4	36.6	32.4	21.7	20.1	31.4	40.5	35.8	29.2
Interest income	0.14	0.44	1.76	1.46	0.42	0.35	3.81
Other non-operating income	-15.4	-24.2	-43	-49.2	-23.5	-20.5	-25.9	-21.4	-22.5	-16.5
Net income	-1.44	-20.4	-50.9	112	92.6	71.9	172	307	90.2	194
EBITDA	79.1	69.2	57.2	227	185	159	262	397	182	282
EPS, basic	-0.03	-0.38	-0.93	2.08	1.86	1.79	4.31	7.63	2.14	4.55
EPS, diluted	-0.03	-0.38	-0.93	2.07	1.86	1.78	4.29	7.60	2.14	4.54
Shares, basic (weighted)	54.1	54	54.5	53.9	49.7	40.2	40	40.3	42.1	42.5
Shares, diluted (weighted)	54.1	54	54.5	54.1	49.8	40.4	40.2	40.5	42.2	42.6
Dividend per share						2.00	5.50	4.00	3.70	2.45

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	17	104	30.8	48.4	79.3	237	149	283	317	327
Short-term investments			0.6	14.9				11.5
Receivables	0.01	0.34	1.38	0.82	0.2	0.85	3.28	0.66	1.36	2.04
Inventory	2.58	2.01	2.11	2	2.01	2.27	2.64	2.39	2.51	2.44
Other current assets	1.9	2.47	3.2	3.27	10.3	10.2	8.51	14.3	13.5	21.3
Total current assets	64	135	82.6	140	153	308	236	369	382	450
Property, plant and equipment	1,604	1,539	1,479	1,438	1,377	1,255	1,264	1,232	1,187	1,216
Lease right-of-use assets				26.9	17.7	8.09	158	192	159	149
Long-term investments							11.4
Other non-current assets	0.08	0.09	0.22	1.57	0.08	0.64	0.47	2.59	2.8	2.99
Total assets	1,746	1,736	1,625	1,672	1,582	1,607	1,709	1,838	1,779	1,872
Accounts payable	7.08	6.33	7.21	13.6	9.83	9.54	10.8	10.2	11.5	7.99
Accrued liabilities	5.39	4.7	3.44	4.08	8.77	3.8	5.64	3.95	5.39	11.3
Deferred revenue	7.31	5.56	4.26	2.07	0.85	0.81	0.21
Short-term debt	66	65.1	64	53.1	51.8	72.1	53.1	53.5	54.5	100
Total current liabilities	85.8	82	79.4	85	82.1	94.8	94.6	102	108	169
Long-term debt	684	694	632	582	540	591	604	552	499	460
Lease liabilities				17.7	8.08		135	159	124	102
Other non-current liabilities	0.48	0.65	1.2	1.17	1.52	1.69	1.43	1.53	1.48	1.58
Total liabilities	770	777	713	695	635	687	835	814	733	733
Total debt	750	759	696	635	591	663	657	605	553	560
Paid-in capital	853	858	864	867	757	760	764	773	868	879
Retained earnings	156	136	85	197	289	281	232	377	311	400
Treasury stock	-33.9	-35.2	-36.5	-87.2	-99.9	-121	-123	-127	-133	-140
Shareholders' equity	976	959	913	977	947	920	874	1,024	1,046	1,139
Total equity	976	959	913	977	947	920	874	1,024	1,046	1,139
Total liabilities and equity	1,746	1,736	1,625	1,672	1,582	1,607	1,709	1,838	1,779	1,872
Shares outstanding	55	55.1	55.2	50.8	41.5	40.2	40.4	40.6	42.7	42.8

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	-1.44	-20.4	-50.9	112	92.6	71.9	172	307	90.2	194
Depreciation and amortization	65.1	65.3	65.2	66.3	68.5	66.4	63.4	68.7	69.6	71.7
Stock-based compensation	4.39	5.14	5.48	3.23	3.36	3.33	4.28	8.33	10.4	11
Change in receivables	0.1	-0.33	-1.05	0.56	0.62	-4.07	-2.69	-0.93	-1.07	-7.5
Change in inventory	-0.29	0.57	-0.1	0.12	-0.01	-0.26	-0.38
Change in payables	0.74	-0.56	0.79	1.47	0.21	-0.12	0.59	-1.27	-0.04	-1.07
Cash from operations	52.1	57.2	8.88	169	171	119	224	388	173	210
Capital expenditures	-1.91	-0.3	-3.97	-19.9	-9.49	-23.2	-68.8
Purchases of investments			-0.5	-14.9	-4.74	-2.25	-11.3	-5.98	-0.21
Sales and maturities of investments				1.77	15				11.8
Cash from investing	-1.92	-0.44	-4.52	-33.1	1.02	68.8	-76.3	-34.8	-7.36	-93.8
Debt issued		261	65.1		55.4	298	346			62.9
Debt repaid	-66.3	-252	-130	-64	-99.4	-230	-352	-53.1	-53	-54.5
Stock issued									89
Share buybacks	-13	-1.22	-1.31	-50.6	-126	-21.4	-1.67	-3.94	-6.27	-7.01
Dividends paid						-80.1	-221	-162	-156	-105
Cash from financing	-79.3	4.67	-67	-115	-174	-35.2	-235	-220	-131	-106
Exchange rate effect	-0.2	-0.01	-0.25	-0.32	0.21	-0.17	-0.45	-0.22	0.01	0.14
Net change in cash	-29.3	61.5	-62.9	20.9	-2.66	152	-88	134	34.4	10.5
Free cash flow	50.2	57	4.91	149	161	95.5	155
Interest paid	24.5	28	36.9	32.5	21.8	20.6	31.1	37.9	32.8	27

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $53.43 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	57.6%	Operating income / revenue.
EBITDA margin	69.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Net margin	55.0%	Net income / revenue.
Operating cash flow margin	41.0%	Cash from operations / revenue.
Return on equity (ROE)	26.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	16.9%	Net income / average total assets.
Return on invested capital (ROIC)	19.0%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	1.9%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	12.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	36.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	7.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	8.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	86.6%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	1.9%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	12.6%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	54.7%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	2.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	8.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	114.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	3.9%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	15.9%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	112.2%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	1.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	19.5%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	21.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-2.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	4.3%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	-33.8%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	-23.6%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	8.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	9.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	3.8%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	5.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	3.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.9%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	2.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-3.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.26x	Current assets / current liabilities.
Quick ratio	1.57x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.55x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.41x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	26.7%	Total debt / total assets.
Liabilities / assets	35.0%	Total liabilities / total assets.
Net debt	$165.4M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.41x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	11.2x	Operating income / interest expense.
Working capital	$498.2M	Current assets - current liabilities.
Tangible book value	$1.24B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.31x	Revenue / average total assets.
Fixed asset turnover	0.59x	Revenue / average property, plant and equipment.
Receivables turnover	165x	Revenue / average receivables.
Days sales outstanding	2 days	365 x average receivables / revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$7.55	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$13.69	Revenue / diluted weighted shares.
Operating cash flow per share	$5.61	Cash from operations / diluted weighted shares.
Book value per share	$28.90	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$28.90	Tangible book value / shares outstanding.
Cash per share	$8.00	(Cash + short-term investments) / shares outstanding.
Payout ratio	39.3%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.29B	Share price x shares outstanding.
Enterprise value	$2.45B	Market cap + total debt - cash - short-term investments.
P/E	7.10x	Market cap / net income. Only when net income is positive.
P/S	3.91x	Market cap / revenue.
P/B	1.85x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.85x	Market cap / tangible book value, when positive.
P/OCF	9.53x	Market cap / cash from operations, when positive.
EV/Sales	4.19x	Enterprise value / revenue.
EV/EBIT	7.27x	Enterprise value / operating income, when both are positive.
EV/EBITDA	6.00x	Enterprise value / EBITDA, when both are positive.
Earnings yield	14.1%	Net income / market cap (the inverse of P/E).
Dividend yield	5.5%	Dividends paid over the period / market cap.
Shareholder yield	5.5%	(Dividends paid + share buybacks) / market cap.
PEG	3.73x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was DORIAN LPG LTD.'s revenue in fiscal 2026?

DORIAN LPG LTD. reported revenue of $481.5M for fiscal 2026, 36.3% higher than the year before.

Was DORIAN LPG LTD. profitable in fiscal 2026?

Yes. Net income was $193.7M, a net margin of 40.2%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to DORIAN LPG LTD.