Dorian LPG Ltd (LPG) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Dorian LPG Ltd stock $59.84, price $46.55, upside +28.5%, quality 69 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range $5.24 – $58.31 · fair‑value band $32.49 – $105.85 · the $46.55 price screens below the $59.84 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas through its LPG tankers worldwide. It owns and operates twenty-eight very large gas carriers. Dorian LPG Ltd. was incorporated in 2013 and is headquartered in Stamford, Connecticut.
Stock analysis
Dorian LPG Ltd (LPG) currently trades at $46.55, while our model-based Fair Value estimate is $59.84, implying the stock looks roughly 22% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $99.24 per share, and 13 of the 26 models we run sit above the $46.55 price.
Bear case: the Asset-Based group reads lowest at $17.84, and 13 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: $32.49 (bear) to $105.85 (bull), the price of $46.55 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 69/100 (solid quality), in the Energy sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Dorian LPG Ltd reported revenue of $482M in FY2026 versus $274M in FY2022, a compound +15.1%/yr. Reported net income was $194M in FY2026, compounding +28.1%/yr from FY2022.
Key figures
Market cap $2.0B Small · P/E ratio 6.2 · P/S ratio 3.43 · EPS (TTM) $7.55 · Dividend yield 7.2% · Net margin 55.6% · Return on equity 28.3% · Return on assets (EBIT) 10.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 72 out of 100 (medium confidence).
What moves the price
The share trades about 20% below its 52-week high and 108% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at −30% fair-value upside, at 29%, LPG screens cheaper than that median.
Fair Value models
Bear$32.49Fair Value $59.84Bull$105.85
Price $46.55 · Upside +28.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then ($2.57 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, 7 officers or directors sold shares worth $9.5M and none bought.
SaleOivind LorentzenDirector20,000 shares at $56.81$1.1MSep 21, 2026
SaleChristina TanDirector2× since Jun 11, 2026: 15,708 shares, avg. $53.36$838,109Sep 17, 2026
SaleMarit LundeDirector12,104 shares at $54.42$658,700Sep 11, 2026
SaleAlexander C. HadjipaterasChief Operating Officer5,000 shares at $54.13$270,650Sep 10, 2026
SaleTheodore B. YoungChief Financial Officer3× since Feb 18, 2026: 36,000 shares, avg. $48.66$1.8MSep 10, 2026
SaleTim Truels HansenChief Commercial Officer5× since Jan 14, 2026: 155,000 shares, avg. $41.56$6.4MSep 9, 2026
SaleTed KalborgDirector15,373 shares at $45.06$692,707May 22, 2026
SaleJohn LycourisHead of Energy Transition, Director10,000 shares at $35.50$355,040Apr 9, 2026
BuyJohn C HadjipaterasPresident and CEO, Director, 10% owner15,000 shares at $27.30$409,500Jan 7, 2026
Plus 5 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+36.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.8%
Start year 2021 (pandemic). Over 10 years: +5.2% a year
Revenue growth 14 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+20.7%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+27.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+20.6%
Dividend (yield on the price)7.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.19.6% vs 12.7%, picking up
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.37% → 43%
Pace: the 5-year rate starts in 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+10.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−22.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +8.3% a year for the price and −23.8% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (92 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Negative
Recent news coverage is more negative than average.
AI conclusion: Fleet renewal with dual-fuel VLGCs offers efficiency gains for operations, yet the commodity shipping business has limited pricing power and faces earnings swings from market cycles.
Main risk: Volatile LPG charter rates that drive earnings swings represent the biggest risk and would directly hit profitability along with cash flow stability.
Dorian LPG has secured contracts for three new dual-fuel VLGCs along with a new credit facility to fund fleet renewal. These moves target more efficient operations starting in 2030, but they unfold against the backdrop of volatile LPG charter rates that drive earnings swings. Our models see the stock as undervalued. Will the cost advantages of the renewed fleet prove more decisive than rate fluctuations in the interim?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Oil & Gas Midstream · 81 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score69 · Top 25%
Fair Value upside+28.5% · Top 25%
Profitability
Return on equity (12 months)28.3% · Top 25%
Return on assets10.4% · Top 25%
Net margin (12 months)55.6% · Top 25%
Operating margin (12 months)59.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)124.0% · Top 25%
Dividend yield (12 months)7.2% · Top 25%
Balance sheet
Debt / equity0.40× · Below median
Valuation Multiplesvs Oil & Gas Midstream median · lower = cheaper
P/E (12 months)6.2× · Cheapest 25%
P/B1.74× · Cheaper than median
P/S (12 months)3.43× · Pricier than median
Price / free cash flow (fiscal year)17.1× · Pricier than median
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Is Dorian LPG Ltd (LPG) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of $59.84 versus a price of $46.55, about +29% upside (undervalued).
What is the fair value of LPG?
Our model-based fair value for Dorian LPG Ltd is $59.84 (as of Nov 6, 2026), built from audited fundamentals. The current price: $46.55.
What is the quality score of LPG?
Dorian LPG Ltd has a Quality Score of 69/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Dorian LPG Ltd (LPG)?
Our model-based price target is the fair value of $59.84 (as of Nov 6, 2026) from 26 valuation models. Cautious scenario $32.49, optimistic scenario $105.85. It is a calculation from audited fundamentals, not an analyst target.
What is the Dorian LPG Ltd stock forecast for 2026?
Our models put fair value at $59.84, about +29% upside versus a price of $46.55 (undervalued). Cautious scenario $32.49, optimistic scenario $105.85. The calculation is refreshed regularly with new filings.
What is the revenue of Dorian LPG Ltd (LPG)?
Dorian LPG Ltd reported trailing-twelve-month revenue of about $579M (latest available figure, as of Nov 6, 2026).
Does Dorian LPG Ltd pay a dividend?
Dorian LPG Ltd currently shows a dividend yield of 7.20% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Dorian LPG Ltd (LPG) and when is the ex-dividend date?
Dorian LPG Ltd pays a dividend of $3.35 per share a year, a dividend yield of 7.2%. The last ex-dividend date was Nov 9, 2026. A dividend has been paid every year since at least 2021. The payout ratio is 44.4% of earnings. Free cash flow covers the dividend 0.81 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into Dorian LPG Ltd (LPG)?
For today's price to be fair in a discounted-cash-flow model, Dorian LPG Ltd would have to grow free cash flow by +10.9 % per year for five years (discount rate 10.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.8 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of LPG use?
Our models discount Dorian LPG Ltd at 10.6 %: a base by market capitalisation (small), damped by beta 0.78, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Dorian LPG Ltd that is +10.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.6 %) and the same formula as our fair value.
How much growth has Dorian LPG Ltd (LPG) delivered so far?
Over the past 5 years revenue at Dorian LPG Ltd grew +8.8 % a year. The price currently implies free-cash-flow growth of +10.9 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Dorian LPG Ltd (LPG) growing?
The median revenue growth in the sector is +14.3 % a year. That is the yardstick for the growth priced into Dorian LPG Ltd (+10.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Dorian LPG Ltd (LPG)?
The free-cash-flow yield on the price is 5.86 %: that much free cash flow Dorian LPG Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Dorian LPG Ltd (LPG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Dorian LPG Ltd it is $59.84 per share (as of Nov 6, 2026), against a price of $46.55. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Dorian LPG Ltd stock overvalued or undervalued in 2026?
As of Nov 6, 2026, LPG trades below its calculated fair value: price $46.55, fair value $59.84, a gap of about +29% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of LPG?
No. The price is what the market pays today ($46.55); the fair value is what the company's own numbers justify ($59.84). For Dorian LPG Ltd the two are $13.29 per share apart. That gap is exactly why we show both numbers side by side.
How much is Dorian LPG Ltd worth?
The market values Dorian LPG Ltd at about $2.0B (market capitalisation, as of Nov 6, 2026). Per share that is $46.55; our models calculate a fair value of $59.84 per share.
What do the bullish and bearish scenarios say about LPG?
Our models span a range for Dorian LPG Ltd: cautious scenario $32.49, base $59.84, optimistic $105.85 per share (as of Nov 6, 2026, price $46.55). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of LPG?
Dorian LPG Ltd trades at a price-to-earnings ratio of 6.2 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $59.84 is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2020 to 2026), reported earnings, FY2026 ex one-offs: 7.1. Other multiples: P/B 1.7, P/S 3.4, EV/EBITDA 5.7.
How solid is the balance sheet of Dorian LPG Ltd (LPG)?
Balance-sheet figures for Dorian LPG Ltd (as of Nov 6, 2026): return on equity 28.3%, debt of 0.40 per unit of equity. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is LPG from its 52-week high?
Dorian LPG Ltd trades at $46.55, about 20% below its 52-week high of $58.31 and 108% above the low of $22.34 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $59.84 is for.
Which stocks are comparable to Dorian LPG Ltd?
From the same area (Energy) we also value Enbridge Inc, The Williams Companies, Inc, Enterprise Products Partners L.P., Kinder Morgan, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Dorian LPG Ltd stock attractive at the current price?
The data as of Nov 6, 2026: price $46.55, calculated fair value $59.84 (+29%), Quality Score 69/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of LPG calculated?
We run Dorian LPG Ltd through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $59.84 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Dorian LPG Ltd currently trades 22% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Dorian LPG Ltd (LPG)?
The closing price on Nov 6, 2026 was $46.55. Our model-based fair value is $59.84, about +29% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Dorian LPG Ltd right now?
The model range is unusually wide ($32.49 to $105.85). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (69/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of Dorian LPG Ltd (LPG) come from?
Earnings per share at Dorian LPG Ltd grew +40.8 % a year from 2014 to 2024. Broken into its drivers: revenue per share +28.7 %, EBIT margin +8.3 %, tax rate +0.2 %, residual (interest, one-offs) +0.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Dorian LPG Ltd
How large is the market capitalisation of Dorian LPG Ltd (LPG)?
The market capitalisation of Dorian LPG Ltd is $2.0B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Dorian LPG Ltd (LPG)?
The price-to-sales ratio of Dorian LPG Ltd is 3.43 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Dorian LPG Ltd (LPG)?
Earnings per share at Dorian LPG Ltd are $7.55 (price ÷ EPS = P/E 6.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Dorian LPG Ltd (LPG)?
The dividend yield of Dorian LPG Ltd is 7.2% (payout 44.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Dorian LPG Ltd (LPG)?
The net margin of Dorian LPG Ltd is 55.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Dorian LPG Ltd (LPG)?
The return on equity (ROE) of Dorian LPG Ltd is 28.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Dorian LPG Ltd (LPG)?
On an EBIT basis the return on assets of Dorian LPG Ltd is 10.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Dorian LPG Ltd (LPG)?
The operating margin of Dorian LPG Ltd is 59.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Dorian LPG Ltd (LPG)?
Revenue at Dorian LPG Ltd is growing +124% versus a year earlier (3y avg +7.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Dorian LPG Ltd (LPG)?
Earnings per share at Dorian LPG Ltd are growing +12.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Dorian LPG Ltd (LPG) carry?
The net debt of Dorian LPG Ltd is $382M (fiscal year 2026, ≈ 3.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 6, 2026