TacticScaleWhat Dorian LPG Does & How It Makes Money (LPG)
Updated October 2026 · reflects Dorian LPG's latest reported financials
Owner-operator of very large LPG tanker ships. It earns revenue by hiring out its fleet of 28 very large gas carriers to transport LPG for customers worldwide.
How Dorian LPG makes money
It earns revenue by hiring out its fleet of 28 very large gas carriers to transport LPG for customers worldwide.
What Dorian LPG does
Dorian LPG Ltd. is a shipping company focused on transporting liquefied petroleum gas by sea. Through its subsidiaries, it owns and operates 28 very large gas carriers (VLGCs), the largest type of ship built for this cargo, and moves LPG worldwide. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut. It is classified in the Energy sector under Oil & Gas Midstream, so its business depends on global demand for seaborne LPG transport.
Products & services
- Very large gas carriers (VLGCs)
- LPG seaborne transportation
- LPG tanker fleet operations
What is Dorian LPG worth?
On an owner-earnings DCF, Dorian LPG's most-likely value is about $29 versus a recent price near $58 (50% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$21) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
⚠ Capital-intensive — this business reinvests heavily, so free cash flow runs well below its earnings. Fair value here is built on free cash flow, which understates owner earnings for reinvestment-heavy companies — read it as conservative.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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