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BW LPG Ltd. (0QIX) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of BW LPG Ltd. NOK 165, price NOK 157, upside +5.1%, quality 71 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Energy · GB

BL Thin data Sep 24, 2026

BW LPG Ltd.

0QIX · LSE

NeutralQuality growthThe stock looks roughly fairly valued with average quality.

·Fair value kr 165.34 · Fairly valued (+5.1%)
✓Quality 71/100
!Mixed Growth (revenue 3y +18.2 %/yr)
✓Solidly profitable · 10.1% net margin (TTM)
!Moderate debt
·1.2% dividend yield · Safety not assessed
✓Ranks above peers (8/12)
✓Wide moat 69/100
!Evidence only low, so the estimate is less certain
!Weak on dividend: 24 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

kr 210.84 kr 18.65 Fair Value kr 165.34 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range kr 18.65 – kr 210.84 · fair‑value band kr 115.74 – kr 284.68 · the kr 157.30 price screens below the kr 165.34 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

BW LPG Limited, an investment holding company, engages in ship owning and chartering activities worldwide. It operates through Shipping and Product Services segments.

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BW LPG Limited, an investment holding company, engages in ship owning and chartering activities worldwide. It operates through Shipping and Product Services segments. The company engages in the transportation of liquefied petroleum gas (LPG); provision of integrated LPG delivery services, as well as management services; wholesale and trade of LPG; and investment in commercial enterprises. As of December 31, 2025, it owned and operated a fleet of 54 vessels, including 28 very large gas carriers, 7 large gas carriers time chartered in by product services, and 8 VLGCs owned by BW LPG India Pte. Ltd. BW LPG Limited was formerly known as BW Gas LPG Holding Limited and changed its name to BW LPG Limited in September 2013. The company was founded in 1935 and is headquartered in Singapore.

Stock analysis

BW LPG Ltd. (0QIX) currently trades at kr 157.30, while our model-based Fair Value estimate is kr 165.34, so the stock looks roughly fairly valued today (gap 4.9%).

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Valuation

Bull case: the DCF Models group reads highest at a median of kr 106.26 per share, and 3 of the 25 models we run sit above the kr 157.30 price.

Bear case: the Asset-Based group reads lowest at kr 19.60, and 22 of the 25 models stay below the price. Evidence for this calculation is low.

Scenario range: kr 115.74 (bear) to kr 284.68 (bull), the price of kr 157.30 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 71/100 (solid quality), in the Energy sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

BW LPG Ltd. reported revenue of 812M NOK in FY2020 versus 506M NOK in FY2016, a compound +12.5%/yr. Reported net income was 244M NOK in FY2020, compounding +78.0%/yr from FY2016.

Key figures

Market cap 6.7B NOK (≈ $700M) · P/S ratio 1.89 · Dividend yield 1.2% · Net margin 30.0% · Return on equity 20.9% · Return on assets (EBIT) 5.1% · Operating margin 26.2% · Revenue growth (YoY) −2.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).

What moves the price

The share trades about 25% below its 52-week high and 46% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Energy peers we cover trades at −21% fair-value upside, at 5%, 0QIX screens cheaper than that median.

Fair Value models

Bear kr 115.74 Fair Value kr 165.34 Bull kr 284.68
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. 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. Evidence ⓘEvidence = 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.
Highest evidence
FCF DCF kr 105.80 kr 180.00 kr 290.18 75
EPV kr 32.44 kr 38.91 kr 44.30 74
Growth DCF kr 104.51 kr 170.89 kr 264.05 73
All 25 models by family
DCF Models
FCF DCF kr 105.80 kr 180.00 kr 290.18 75
5Y Revenue Exit kr 40.24 kr 57.69 kr 77.67 70
5Y EBITDA Exit kr 56.01 kr 89.49 kr 128.53 71
5Y P/E Exit kr 64.33 kr 106.26 kr 151.85 67
10Y Revenue Exit kr 64.30 kr 87.95 kr 117.64 64
10Y EBITDA Exit kr 74.23 kr 108.97 kr 155.69 65
10Y P/E Exit kr 79.23 kr 120.06 kr 173.15 61
Earnings-Based
Graham-Dodd kr 38.76 kr 166.66 kr 227.75 61
Lynch FV kr 42.70 kr 61.00 kr 79.29 58
PEG = 1.0 kr 42.70 kr 61.00 kr 79.29 55
EPV kr 32.44 kr 38.91 kr 44.30 74
Dividend Discount
Gordon GGM kr 23.01 kr 41.47 kr 57.08 65
DDM Multi-Stage kr 23.01 kr 37.88 kr 44.30 64
Multiples
P/E Multiple kr 59.86 kr 79.81 kr 99.76 63
P/S Multiple kr 17.08 kr 22.77 kr 28.46 58
P/B Multiple kr 39.50 kr 52.66 kr 65.83 55
EV/EBIT kr 34.42 kr 50.88 kr 67.35 65
EV/EBITDA kr 30.11 kr 45.14 kr 60.17 66
EV/Revenue kr 0.9700 kr 7.80 kr 14.63 47
Asset-Based
NCAV (Graham) kr 14.63 kr 19.60 kr 29.26 54
Growth DCF
Growth DCF kr 104.51 kr 170.89 kr 264.05 73
Rev-Margin DCF kr 39.50 kr 55.56 kr 74.29 70
Economic Profit
Residual Income kr 31.85 kr 40.72 kr 60.26 72
ROIC Compounder kr 33.62 kr 45.80 kr 61.46 68
Growth Earnings
Growth-Adj P/E kr 57.87 kr 82.67 kr 107.47 65

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Quality Score breakdown

Overall quality 71/100

Of which business quality 69 · Market factors (momentum, volatility) 49

Profitability 59
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 55
Distance to the 52-week high (market factor)

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Revenue & earnings trend

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. 86/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−0.7%
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.
+18.2%
Profit margin (trend) ⓘ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.
10.5% (2016) → 34.7% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
not computed

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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 · 84 stocks

Beats the industry median on 8/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 71 · Top 25%
Fair Value upside +5.1% · Above median
Profitability
Return on equity (TTM) 20.9% · Above median
Return on assets 8.7% · Top 25%
Net margin (TTM) 10.1% · Below median
Operating margin (TTM) 26.2% · Below median
Growth and dividend
Revenue growth −2.7% · Bottom 25%
Dividend yield (TTM) 1.2% · Bottom 25%
Balance sheet
Debt / equity 0.58× · Below median

Valuation Multiplesvs Oil & Gas Midstream median · lower = cheaper

P/B 0.56× · Cheapest 25%
P/S (TTM) 0.20× · Cheapest 25%
EV/EBITDA 2.2× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)40 · sector 21
FUTURE (revenue growth)0 · sector 100
PAST (return on equity)83 · sector 54
HEALTH (low debt)71 · sector 56
DIVIDEND (yield)24 · sector 90

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

Similar stocks

10 more Oil & Gas Midstream stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Enbridge Inc ENB $46.97 $36.91 −21%
The Williams Companies, Inc WMB $68.98 $11.72 −83%
Enterprise Products Partners L.P. EPD $36.65 $24.66 −33%
Energy Transfer LP, ET $20.10 $15.29 −24%
Kinder Morgan, Inc KMI $30.63 $28.16 −8%
TC Energy Corporation TRP $58.78 $24.51 −58%
Targa Resources Corp TRGP $277.84 $65.24 −77%
MPLX LP owns and MPLX $57.66 $70.77 +23%
ONEOK, Inc OKE $88.62 $80.15 −10%
Cheniere Energy, Inc LNG $267.29 $294.02 +10%

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BW LPG Ltd. · Fair Value
kr 165.34 +5%Fair Value
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Cite: Fair Value Calculator (2026). "BW LPG Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/0QIX

Frequently asked questions

Is BW LPG Ltd. (0QIX) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 165.34 versus a price of kr 157.30, about +5% upside (fairly valued).
What is the fair value of 0QIX?
Our model-based fair value for BW LPG Ltd. is kr 165.34 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 157.30.
What is the quality score of 0QIX?
BW LPG Ltd. has a Quality Score of 71/100. 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 BW LPG Ltd. (0QIX)?
Our model-based price target is the fair value of kr 165.34 (as of Sep 24, 2026) from 25 valuation models. Cautious scenario kr 115.74, optimistic scenario kr 284.68. It is a calculation from audited fundamentals, not an analyst target.
What is the BW LPG Ltd. stock forecast for 2026?
Our models put fair value at kr 165.34, about +5% upside versus a price of kr 157.30 (fairly valued). Cautious scenario kr 115.74, optimistic scenario kr 284.68. The calculation is refreshed regularly with new filings.
Does BW LPG Ltd. pay a dividend?
BW LPG Ltd. currently shows a dividend yield of about 1.18% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of BW LPG Ltd. (0QIX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For BW LPG Ltd. it is kr 165.34 per share (as of Sep 24, 2026), against a price of kr 157.30. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is BW LPG Ltd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0QIX trades below its calculated fair value: price kr 157.30, fair value kr 165.34, a gap of about +5% (fairly valued). 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 0QIX?
No. The price is what the market pays today (kr 157.30); the fair value is what the company's own numbers justify (kr 165.34). For BW LPG Ltd. the two are kr 8.04 per share apart. That gap is exactly why we show both numbers side by side.
How much is BW LPG Ltd. worth?
The market values BW LPG Ltd. at about 6.7B NOK (market capitalisation, as of Sep 24, 2026). Per share that is kr 157.30; our models calculate a fair value of kr 165.34 per share.
What do the bullish and bearish scenarios say about 0QIX?
Our models span a range for BW LPG Ltd.: cautious scenario kr 115.74, base kr 165.34, optimistic kr 284.68 per share (as of Sep 24, 2026, price kr 157.30). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of BW LPG Ltd. (0QIX)?
Balance-sheet figures for BW LPG Ltd. (as of Sep 24, 2026): return on equity 20.9%, debt of 0.58 per unit of equity. They feed the Quality Score of 71/100, which measures business quality independently of the share price.
How far is 0QIX from its 52-week high?
BW LPG Ltd. trades at kr 157.30, about 25% below its 52-week high of kr 210.84 and 46% above the low of kr 107.69 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of kr 165.34 is for.
Which stocks are comparable to BW LPG Ltd.?
From the same area (Energy) we also value Enbridge Inc, The Williams Companies, Inc, Enterprise Products Partners L.P., Energy Transfer LP,, 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 BW LPG Ltd. stock attractive at the current price?
The data as of Sep 24, 2026: price kr 157.30, calculated fair value kr 165.34 (+5%), Quality Score 71/100, from 25 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 0QIX calculated?
We run BW LPG Ltd. through 25 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 165.34, 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 14.5 % above its aggregate fair value. BW LPG Ltd. currently trades 5 % 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 BW LPG Ltd. (0QIX)?
The closing price on Oct 2, 2026 was kr 157.30. Our model-based fair value is kr 165.34, about +5% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with BW LPG Ltd. right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (kr 115.74 to kr 284.68) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of BW LPG Ltd.

How large is the market capitalisation of BW LPG Ltd. (0QIX)?
The market capitalisation of BW LPG Ltd. is 6.7B NOK (≈ $700M). 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 BW LPG Ltd. (0QIX)?
The price-to-sales ratio of BW LPG Ltd. is 1.89 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of BW LPG Ltd. (0QIX)?
The dividend yield of BW LPG Ltd. is 1.2%. 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 BW LPG Ltd. (0QIX)?
The net margin of BW LPG Ltd. is 30.0% (fiscal year 2020). 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 BW LPG Ltd. (0QIX)?
The return on equity (ROE) of BW LPG Ltd. is 20.9% (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 BW LPG Ltd. (0QIX)?
On an EBIT basis the return on assets of BW LPG Ltd. is 5.1% (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 BW LPG Ltd. (0QIX)?
The operating margin of BW LPG Ltd. is 26.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at BW LPG Ltd. (0QIX)?
Revenue at BW LPG Ltd. is growing −2.7% versus a year earlier (3y avg +18.2%). 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 BW LPG Ltd. (0QIX)?
Earnings per share at BW LPG Ltd. are growing +260% versus a year earlier. How much earnings per share grew versus a year earlier.
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