BW LPG Limited

OB:BWLPG Stock Report

Market Cap: NOK 19.4b

BWG Valuation

Is BWLPG undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BWLPG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

NOK 316.58
Fair Value
59.4% undervalued intrinsic discount
3
Number of Analysts

Below Fair Value: BWLPG (NOK128.5) is trading below our estimate of fair value (NOK316.58)

Significantly Below Fair Value: BWLPG is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BWLPG?

Key metric: As BWLPG is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for BWLPG. This is calculated by dividing BWLPG's market cap by their current earnings.
What is BWLPG's PE Ratio?
PE Ratio8.9x
EarningsUS$216.55m
Market CapUS$1.92b

Price to Earnings Ratio vs Peers

How does BWLPG's PE Ratio compare to its peers?

The above table shows the PE ratio for BWLPG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average9.1x
HAFNI Hafnia
6.9x0.96%NOK 30.3b
OET Okeanis Eco Tankers
15.6x14.90%NOK 12.1b
CLCO Cool
8.8x9.01%NOK 5.3b
BWE BW Energy
5.1x35.22%NOK 9.5b
BWLPG BWG
8.9x-10.06%NOK 19.4b

Price-To-Earnings vs Peers: BWLPG is good value based on its Price-To-Earnings Ratio (8.9x) compared to the peer average (9.1x).

Price to Earnings Ratio vs Industry

How does BWLPG's PE Ratio compare vs other companies in the European Oil and Gas Industry?

12 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BWLPG 8.9xIndustry Avg. 12.5xNo. of Companies12PE0612182430+
12 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BWLPG is good value based on its Price-To-Earnings Ratio (8.9x) compared to the European Oil and Gas industry average (12.5x).

Price to Earnings Ratio vs Fair Ratio

What is BWLPG's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BWLPG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.9x
Fair PE Ratio6.1x

Price-To-Earnings vs Fair Ratio: BWLPG is expensive based on its Price-To-Earnings Ratio (8.9x) compared to the estimated Fair Price-To-Earnings Ratio (6.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BWLPG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 128.50
NOK 163.88
+27.54%
13.41%NOK 184.74NOK 133.51n/a3
Nov ’26NOK 134.40
NOK 162.78
+21.12%
13.89%NOK 185.26NOK 131.84n/a3
Oct ’26NOK 139.20
NOK 171.36
+23.10%
6.76%NOK 185.14NOK 156.79n/a3
Sep ’26NOK 154.10
NOK 169.16
+9.77%
6.43%NOK 182.69NOK 156.08n/a3
Aug ’26NOK 135.40
NOK 167.80
+23.93%
7.28%NOK 185.02NOK 158.03n/a3
Jul ’26NOK 117.00
NOK 166.79
+42.56%
7.15%NOK 183.56NOK 156.79n/a3
Jun ’26NOK 104.40
NOK 168.00
+60.92%
7.28%NOK 185.24NOK 158.22n/a3
May ’26NOK 103.40
NOK 170.49
+64.88%
8.12%NOK 190.03NOK 159.82n/a3
Apr ’26NOK 113.90
NOK 167.17
+46.77%
4.49%NOK 177.74NOK 160.98n/a3
Mar ’26NOK 130.30
NOK 178.25
+36.80%
4.87%NOK 190.31NOK 170.18n/a3
Feb ’26NOK 143.70
NOK 182.19
+26.79%
6.88%NOK 199.75NOK 171.25n/a3
Jan ’26NOK 125.30
NOK 173.08
+38.13%
11.84%NOK 199.64NOK 149.73n/a3
Dec ’25NOK 133.90
NOK 192.72
+43.93%
12.60%NOK 214.68NOK 158.88n/a3
Nov ’25NOK 141.00
NOK 192.80
+36.74%
9.13%NOK 205.97NOK 167.91NOK 134.403
Oct ’25NOK 158.30
NOK 192.80
+21.80%
9.13%NOK 205.97NOK 167.91NOK 139.203
Sep ’25NOK 166.50
NOK 206.10
+23.78%
16.67%NOK 249.85NOK 165.95NOK 154.103
Aug ’25NOK 177.20
NOK 238.11
+34.37%
16.32%NOK 280.53NOK 186.65NOK 135.403
Jul ’25NOK 198.90
NOK 254.69
+28.05%
7.02%NOK 279.98NOK 241.54NOK 117.003
Jun ’25NOK 217.40
NOK 253.87
+16.78%
7.14%NOK 279.49NOK 240.57NOK 104.403
May ’25NOK 161.10
NOK 166.44
+3.31%
15.89%NOK 199.66NOK 134.96NOK 103.403
Apr ’25NOK 121.00
NOK 166.86
+37.90%
15.93%NOK 200.22NOK 135.20NOK 113.903
Mar ’25NOK 123.60
NOK 169.28
+36.96%
18.30%NOK 200.82NOK 125.19NOK 130.304
Feb ’25NOK 130.00
NOK 171.90
+32.23%
18.82%NOK 204.42NOK 124.11NOK 143.705
Jan ’25NOK 151.30
NOK 177.75
+17.48%
19.75%NOK 214.41NOK 128.70NOK 125.305
Dec ’24NOK 162.10
NOK 174.23
+7.48%
20.13%NOK 210.02NOK 126.06NOK 133.905
Nov ’24NOK 168.20
NOK 173.38
+3.08%
15.84%NOK 209.23NOK 131.97NOK 141.004
NOK 163.88
Fair Value
21.6% undervalued intrinsic discount
3
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/28 03:15
End of Day Share Price 2025/11/28 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

BW LPG Limited is covered by 10 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Mark Andrew Falzon ManducaBofA Global Research
Anders-Redigh KarlsenDanske Bank