Dorian LPG vs Navigator Holdings
Navigator Holdings is the larger business, with $587m of revenue in fiscal 2025 against $482m for Dorian LPG (1.2 times as much). Dorian LPG grew faster (36.3% against 3.6%). Dorian LPG kept more of each dollar of sales as profit: a net margin of 40.2% against 17.1%. Navigator Holdings carries less debt relative to equity (25.0% against 49.7%).
| Latest fiscal year | Dorian LPGLPG, 2026 | Navigator HoldingsNVGS, 2025 |
|---|---|---|
| Revenue | $482m | $587m |
| Revenue growth | 36.3% | 3.6% |
| Net income | $194m | $100m |
| Operating margin | 43.6% | 28.2% |
| Net margin | 40.2% | 17.1% |
| Return on equity | 17.7% | 8.2% |
| Free cash flow | $210m | $117m |
| Cash | $327m | $155m |
| Total debt | $566m | $306m |
| Debt to equity | 49.7% | 25.0% |
| Dividend per share | $2.45 | — |
| Dividend yield | 5.8% | 1.1% |
| Share buybacks | $7.0m | — |
| Employees | — | — |
| Market value | $2.24bn | $1.32bn |
| Price vs our value range | Below our value range | Below our value range |
| Moat score | 65 (Moderate) | — |
| Insider trades, 12 months | 1 buys, 17 sales | 0 buys, 4 sales |