DORIAN LPG LTD. (LPG)

Deep Sea Foreign Transportation of Freight

Latest Price

$56.82

TTM P/E

7.54

Normalized P/E

12.12

Div Yield

5.19%

Book Value

29.06

P/B Ratio

1.96

Valuation metrics

EPS: $4.54

Book value / share: $26.62

Formula: √(22.5 × EPS × BVPS)

Graham Number

$52.15

8% downside

Norm. op. income: $161M (median of 7yr)

Tax rate: 25%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$23.14

59% downside

Base FCF: $155M (median of recent 5yr)

Growth: 25%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$265.02

+366% upside

EPS: $4.54

Target P/E: 12×

Formula: EPS × P/E

P/E Fair Value

$54.48

4% downside