Dorian Lpg Ltd. (LPG) intrinsic value & 10-year financials
Dorian Lpg Ltd. (LPG) has a Graham intrinsic value of $142.81 per share. At $53.60 on Oct 17, 2026, the stock trades 62% below that value. Over the last 10 fiscal years revenue grew 12.4% a year to $481.5M, with an average return on invested capital of 6.6%.
- Graham intrinsic value
- $142.81
- Share price (Oct 17, 2026)
- $53.60
- Price vs Graham value
- 62% below
- Market cap
- $2.3B
- Revenue (FY2026)
- $481.5M
- Revenue growth (10-yr CAGR)
- 12.4%
- ROIC (10-yr avg)
- 6.6%
- Free cash flow (FY2026)
- —
LPG 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $481.5M | $193.7M | $4.54 | — | 43.6% | 13.4% |
| FY2025 | $353.3M | $90.2M | $2.14 | — | 31.9% | 6.2% |
| FY2024 | $560.7M | $307.4M | $7.60 | — | 58.6% | 20.3% |
| FY2023 | $389.7M | $172.4M | $4.29 | $155.3M | 50.9% | 12.0% |
| FY2022 | $274.2M | $71.9M | $1.78 | $95.5M | 33.7% | 5.1% |
| FY2021 | $315.9M | $92.6M | $1.86 | $161.1M | 36.7% | 6.1% |
| FY2020 | $333.4M | $111.8M | $2.07 | $149.2M | 48.3% | 7.1% |
| FY2019 | $158.0M | -$50.9M | -$0.93 | $4.9M | -5.0% | -3.2% |
| FY2018 | $159.3M | -$20.4M | -$0.38 | $57.0M | 2.4% | -1.2% |
| FY2017 | $167.4M | -$1.4M | -$0.03 | $50.2M | 8.4% | -0.1% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
DORIAN LPG LTD. is a consistent compounder, expanding top-line revenue at 12.5% annually over the past decade.
DORIAN LPG LTD. has historically struggled to out-earn its cost of capital, averaging just 6.6% ROIC.
Over the decade, DORIAN LPG LTD. shows that management has aggressively returned capital to shareholders by retiring 21.2% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, DORIAN LPG LTD. is modeled at 14.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $142.81 per share.