Dorian LPG Ltd. Common Stock (LPG)

FairStock Score: 81/100 — HIGH CONVICTION

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I am wary of commodity businesses, and LPG shipping is one. Dorian owns twenty-eight very large gas carriers, so it benefits when rates are high and suffers when they fall. The recent numbers are impressive: in fiscal Q1 2027, the quarter ended 2026-06-30, revenue was $187.9 million and net income $138.3 million, or $3.24 per diluted share. But the longer record is cyclical. Fiscal 2024, ended 2024-03-31, produced $560.7 million of revenue, $307.4 million of net income, and $7.60 of diluted EPS. Fiscal 2025 slipped to $353.3 million of revenue, $90.2 million of net income, and $2.14 of EPS. Fiscal 2026 recovered to $481.5 million of revenue, $193.7 million of net income, and $4.54 of EPS. So the latest quarter is excellent, but I cannot treat it as permanent. FairStock's calculations at the 2026-10-13 close of $57.98 show a P/E of 7.69, EV/EBITDA of 6.62, P/B of 2.01, and FCF yield of 6.0%. The Graham Number is $70.02, giving a 17.2% margin of safety. ROE is 28.34%, ROCE is 10.52%, debt-to-equity is 0.52, Piotroski is 8/9, and Altman is 3.21. Those are solid, though the dividend yield of 5.76% depends on volatile shipping cash flows. FairStock labels it a STALWART, with 15.9% annual profit growth and 8.8% revenue growth over five years, and its FairStock Score is 81/100. The price looks reasonable, but the moat is thin: vessels are assets, not franchises. I would want to see through-cycle earnings and disciplined capital allocation, not just a boom quarter.

In plain English: Dorian LPG owns and runs ships that carry liquefied petroleum gas around the world. The business looks strong right now: in the quarter ended June 30, 2026, it earned $138.3 million on $187.9 million of revenue, and it carries moderate debt compared with its profits. At $57.98 on October 13, 2026, the stock looks somewhat cheap against its earnings and cash flow, though shipping profits can swing sharply from year to year.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q1 2027 10-Q (period ended 2026-06-30) · fiscal Q4 2026 10-K (period ended 2026-03-31) · fiscal Q3 2026 10-K (period ended 2025-12-31) · fiscal Q2 2026 10-K (period ended 2025-09-30) · FY2026 10-K (period ended 2026-03-31) · FY2025 10-K (period ended 2025-03-31) · FY2024 10-K (period ended 2024-03-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer