Projected Income Statement: BW LPG Limited

Forecast Balance Sheet: BW LPG Limited

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,170 927 739 485 283 981 645 368
Change - -20.77% -20.28% -34.37% -41.65% 247.08% -34.25% -42.95%
Announcement Date 27/02/20 01/03/21 01/03/22 28/02/23 29/02/24 - - -
1USD in Million
Estimates

Cash Flow Forecast: BW LPG Limited

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
CAPEX 1 10.1 44.51 187.3 46.19 116 120 61.67 24
Change - 340.84% 320.87% -75.34% 151.22% 3.41% -48.61% -61.08%
Free Cash Flow (FCF) 1 312.1 395.6 383 389.4 450.4 -255.5 440.5 489.5
Change - 26.77% -3.19% 1.67% 15.65% -156.73% -272.41% 11.12%
Announcement Date 27/02/20 01/03/21 01/03/22 28/02/23 29/02/24 - - -
1USD in Million
Estimates

Forecast Financial Ratios: BW LPG Limited

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026

Profitability

        
EBITDA Margin (%) 72.87% 75.17% 66.95% 84.35% 78.59% 78.49% 74.14% 72.82%
EBIT Margin (%) 49.79% 47.49% 33.83% 51.36% 54.14% 53.28% 45.19% 42.27%
EBT Margin (%) 50.48% 44.37% 40.15% 49.58% 56.57% 53.64% 42.65% 39%
Net margin (%) 50.04% 44.27% 39.7% 47.05% 52.75% 45.92% 38.55% 35.94%
FCF margin (%) 57.02% 71.83% 82.27% 80.57% 50.55% -33.18% 55.41% 63.77%
FCF / Net Income (%) 113.96% 162.24% 207.24% 171.25% 95.83% -72.26% 143.74% 177.45%

Profitability

        
ROA 11.39% 9.82% 7.73% 10.19% 16.91% 11.5% 8.1% 8.4%
ROE 25.35% 20% 14.09% 16.2% 31% 21.06% 15.94% 13.67%

Financial Health

        
Leverage (Debt/EBITDA) 2.93x 2.24x 2.37x 1.19x 0.4x 1.62x 1.09x 0.66x
Debt / Free cash flow 3.75x 2.34x 1.93x 1.25x 0.63x -3.84x 1.47x 0.75x

Capital Intensity

        
CAPEX / Current Assets (%) 1.84% 8.08% 40.24% 9.56% 13.02% 15.58% 7.76% 3.13%
CAPEX / EBITDA (%) 2.53% 10.75% 60.1% 11.33% 16.57% 19.85% 10.46% 4.29%
CAPEX / FCF (%) 3.24% 11.25% 48.91% 11.86% 25.77% -46.97% 14% 4.9%

Items per share

        
Cash flow per share 1 2.322 2.871 2.211 - - - - -
Change - 23.61% -22.98% - - - - -
Dividend per Share 1 0.85 0.84 0.56 1.28 3.46 2.131 1.595 1.571
Change - -1.18% -33.33% 128.57% 170.31% -38.41% -25.17% -1.49%
Book Value Per Share 1 8.493 9.063 10.02 10.26 10.5 12.74 13.15 13.35
Change - 6.71% 10.56% 2.37% 2.34% 21.31% 3.28% 1.48%
EPS 1 1.97 1.76 1.33 1.68 3.53 2.639 2.01 1.813
Change - -10.66% -24.43% 26.32% 110.12% -25.23% -23.83% -9.85%
Nbr of stocks (in thousands) 138,618 138,097 137,175 133,381 139,474 151,538 151,538 151,538
Announcement Date 27/02/20 01/03/21 01/03/22 28/02/23 29/02/24 - - -
1USD
Estimates
2024 *2025 *
P/E ratio 4.81x 6.32x
PBR 1x 0.97x
EV / Sales 3.77x 3.23x
Yield 16.8% 12.6%
More valuation ratios * Estimated data

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Trading Rating
Investor Rating
ESG MSCI
BBB
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
3
Last Close Price
12.70USD
Average target price
16.36USD
Spread / Average Target
+28.89%
Consensus

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Equities
  3. BWLPG Stock
  4. Financials BW LPG Limited