BWLP
BW LPG Limited
BWLP's fundamentals are strong, but it looks expensive: trading at 7.6x earnings, above its usual 5.7x. Analysts expect earnings to fall sharply, though they disagree widely on how much.
BWLP Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Strong | |
| Strong | |
| Strong |
BWLP's profitability, cash flow and balance sheet are currently strong, but its revenue is under pressure.
BWLP PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 3.9x | $11.41 | -48% |
| Fair | 5.6x | $16.35 | -26% |
| Forward | 6.5x | $22.09 | — |
| Current | 7.6x | $22.09 | — |
| Expensive | 9.9x | $28.73 | +30% |
Historical ranges are pointers, not guarantees.
BWLP's PE is in its expensive range at 7.6x. On analysts' estimates for next year's earnings, today's price would be 6.5x.
BWLP Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong decline | |
| Decline | |
| Strongly weakening | |
| Limited | |
| Low |
Analysts expect BWLP's earnings and revenue to decline, with profitability weakening. However, they disagree widely on these estimates.
BWLP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.38 | +16% |
| Q2 2026 | $2.91 | +89% |
| Q1 2026 | $2.39 | +26% |
| Q4 2025 | $1.60 | -39% |
| Q3 2025 | $1.13 | -69% |
| Q2 2025 | $1.54 | -58% |
| Q1 2025 | $1.89 | -49% |
| Q4 2024 | $2.64 | -26% |
| Q3 2024 | $3.65 | +19% |
BWLP earned $2.91 per share over the past year, up 89% from the year before.
BWLP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $963.6M | -9.5% |
| Q1 2026 | $842M | -7.1% |
| Q4 2025 | $732.7M | -10% |
| Q3 2025 | $954.2M | +17% |
| Q2 2025 | $1.1B | +21% |
| Q1 2025 | $906.7M | -10% |
| Q4 2024 | $817.2M | -13% |
| Q3 2024 | $814.6M | +16% |
BWLP's revenue grew through 2024 and has held roughly level since: $964M last quarter, down 9.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 14% | +7.7 points |
| Q1 2026 | 26% | +21 points |
| Q4 2025 | 16% | +10 points |
| Q3 2025 | 7.5% | -10 points |
| Q2 2025 | 5.9% | -4.2 points |
| Q1 2025 | 5.5% | -7.5 points |
| Q4 2024 | 5.5% | -15 points |
| Q3 2024 | 17% | -0.6 points |
BWLP's operating margin was 14% last quarter, up 7.7 points from the same quarter a year ago.
BWLP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $168.7M | +1158% |
| Q1 2026 | $146.9M | +63% |
| Q4 2025 | $166M | +$448M |
| Q3 2025 | $117.1M | +$132.6M |
| Q2 2025 | $13.4M | -75% |
| Q1 2025 | $89.9M | -78% |
| Q4 2024 | -$282M | -304% |
| Q3 2024 | -$15.5M | -121% |
BWLP's free cash flow has turned positive again: $599M over the past year, against −$194M the year before.
BWLP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +500K shares |
| 1 year | +0.4% | +600K shares |
| 3 years | +14% | +19.2M shares |
BWLP has 152M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $43.2M |
| Q3 2025 | $38,536 |
| Q2 2025 | $2.7M |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | $4.5M |
BWLP spent $43M buying back its own shares over the past year, about six times what it spent the year before.
BWLP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.8x | Very low |
| Q1 2026 | 0.8x | Very low |
| Q4 2025 | 1.2x | Healthy |
| Q3 2025 | 1.5x | Healthy |
| Q2 2025 | 1.4x | Healthy |
| Q1 2025 | 1.4x | Healthy |
| Q4 2024 | 1.4x | Healthy |
| Q3 2024 | 0.4x | Very low |
BWLP's net debt is less than a year of its operating earnings (EBITDA), down from 1.4 years a year ago.
BWLP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.9 | Neutral |
| Stochastic | 37.6 | Neutral |
BWLP's weekly RSI is 49 (neutral) and its Stochastic is 38 (neutral).
BWLP PE vs Industrials Sector
| Metric | BWLP | Sector median | Relative |
|---|---|---|---|
| PE | 7.6x | 24x | 68% below |
| PE % | 70 | 58 | 12 pts above |
BWLP is trading at 7.6x earnings, a 68% discount to the Industrials sector's median of 24x.
BWLP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $24.4 | 9.4% below |
| 20 week MA | $23.3 | 5.3% below |
| 50 week MA | $19.5 | 14% above |
| 100 week MA | $15.9 | 39% above |
| 200 week MA | $14.3 | 55% above |
BWLP has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 55% above its 200-week average.
BWLP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $8.53 | $6.80 | -20% |
| 2021 | $6.80 | $5.57 | -18% |
| 2022 | $5.57 | $8.30 | +49% |
| 2023 | $8.30 | $15.1 | +81% |
| 2024 | $15.1 | $10.9 | -28% |
| 2025 | $10.9 | $12.7 | +16% |
| 2026 YTD | $12.7 | $22.1 | +74% |
BWLP is up 74% so far in 2026, after finishing lower in three of the previous six years.