BW LPG Limited BWLPG

Oslo Børs · Energy · Oil & Gas Midstream

203.60 NOK −3.1% 2026-11-06

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Annual accounts for BW LPG

USD million	2022	2023	2024	2025
Income statement
Revenue	1,558	2,947	3,564	3,582
EBITDA	429	749	647	613
Net income	227	470	354	242
Balance sheet
Equity	1,477	1,470	1,805	1,830
Total debt	706	570	1,173	990
Cash	285	288	280	242
Net debt	421	283	894	748
Ratios and per share
EBITDA margin	27.5%	25.4%	18.2%	17.1%
Profit margin	14.6%	15.9%	9.9%	6.8%
Return on equity	15.4%	32.0%	19.6%	13.2%
Earnings/share (USD)	1.70	3.59	2.34	1.60
Book value/share (USD)	11.07	11.21	11.91	12.09
Shares outstanding (M)	133	131	152	151

From the annual statements (Yahoo Finance), in the currency the company reports in. Per-share figures use the shares at the year end. Charts and annual figures →

Quarterly figures from the reports

Beta

From the company's own reports: 8 reports read by AI, every figure checked against the report's page and arithmetic.

Revenue Q2 2026

USD million

Operating profit Q2 2026

USD million

EPS Q2 2026

0.79

USD

One-off items found

in 8 reports

Source: the Q2 2026 and H1 2026 report, page 11, published 2026-08-28.

Quarter	EPS	Adj. EPS	Source
Q2 2026	0.79	…	Q2 2026 and H1 2026, p. 11
Q1 2026	1.08	…	Q1 2026, p. 7
Q4 2025	0.69	…	Q4 2025 and FY 2025, p. 8
Q3 2025	0.38	…	Q3 2025 and YTD September 2025, p. 8
Q2 2025	0.23	…	Q2 2025 and H1 2025, p. 10
Q1 2025	0.30	…	Q1 2025, p. 7
Q4 2024	0.22	…	Q4 2024 and FY 2024, p. 7
Q3 2024	0.79	…	Q3 2024 and YTD September 2024, p. 7
Q2 2024	0.58	…	Q2 2025 and H1 2025, p. 10
Q1 2024	1.08	…	Q1 2025, p. 7
Q4 2023	1.16	…	Q4 2024 and FY 2024, p. 7
Q3 2023	0.85	…	Q3 2024 and YTD September 2024, p. 7

Amounts in USD million, EPS in USD. Each quarter as first reported, as a backtest would have seen it. Adjusted EPS (without one-off items) is shown once the one-off items have been checked against the companies' own adjusted figures.

One-off items in the reports

2026-06-30 IFRS 15 adjustments for spot voyages straddling the quarter-end: −16.4 USD million (Q2 2026 and H1 2026, p. 5)
2026-06-30 forward freight agreements entered into to hedge the exposure against spot market volatility: −12.0 USD million (Q2 2026 and H1 2026, p. 5)
2025-12-31 gain on disposal of vessels: +24.7 USD million (Q4 2025 and FY 2025, p. 5)
2025-12-31 Gain on disposal of vessels: +24.7 USD million (Q4 2025 and FY 2025, p. 8)
2025-09-30 IFRS 15 adjustments for spot voyages that straddled the quarter-end: −7.3 USD million (Q3 2025 and YTD September 2025, p. 5)
2025-06-30 Loss on derecognition of right-of-use assets (vessels): −0.7 USD million (Q2 2025 and H1 2025, p. 10)
2025-06-30 IFRS 15 adjustments due to spot voyages that straddled the quarter-end: −4.6 USD million (Q2 2025 and H1 2025, p. 5)
2025-03-31 Gain on disposal of vessels: +32.1 USD million (Q1 2025, p. 7)

Found by AI and still being validated: hover for the report's own words.

Extracted by an AI model from the reports and can be wrong. Not investment advice.

Key figures

P/E	13.5
P/B	1.8
EV / EBITDA	6.5
Net debt / EBITDA	1.2
Return on equity	13.2%
Profit margin	6.8%
Beta 1Y	0.98
Revenue growth 1Y	+0.5%
Revenue CAGR 3Y	+32.0%
Earnings/share CAGR 3Y	−2.1%
ROE avg. 3Y	21.6%

Ratios use the latest annual report that was public 90 days after the year end.

Dividends per share (NOK)

2026	20.67
2025	12.54
2024	27.55
2023	29.26
2022	8.93
2021	0.95

Not investment advice. Figures may contain errors from the data source.