BW LPG Limited (BWLP) - Net Assets
Based on the latest financial reports, BW LPG Limited (BWLP) has net assets worth $2.03 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($3.35 Billion) and total liabilities ($1.32 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check BWLP intangible-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $2.03 Billion |
| % of Total Assets | 60.63% |
| Annual Growth Rate | 6.23% |
| 5-Year Change | 39.1% |
| 10-Year Change | N/A |
| Growth Volatility | 10.33 |
BW LPG Limited - Net Assets Trend (2016–2025)
This chart illustrates how BW LPG Limited's net assets have evolved over time, based on quarterly financial data. See BW LPG Limited defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for BW LPG Limited (2016–2025)
The table below shows the annual net assets of BW LPG Limited from 2016 to 2025. For live valuation and market cap data, see market value of BW LPG Limited.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $1.93 Billion | -0.63% |
| 2024-12-31 | $1.94 Billion | +22.15% |
| 2023-12-31 | $1.59 Billion | -1.08% |
| 2022-12-31 | $1.60 Billion | +15.84% |
| 2021-12-31 | $1.38 Billion | +10.59% |
| 2020-12-31 | $1.25 Billion | +6.31% |
| 2019-12-31 | $1.18 Billion | +19.69% |
| 2018-12-31 | $983.62 Million | -8.38% |
| 2017-12-31 | $1.07 Billion | -3.92% |
| 2016-12-31 | $1.12 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to BW LPG Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 261.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $605.15 Million | 33.07% |
| Common Stock | $619.81 Million | 33.87% |
| Other Comprehensive Income | $658.14 Million | 35.97% |
| Total Equity | $1.83 Billion | 100.00% |
BW LPG Limited Competitors by Market Cap
The table below lists competitors of BW LPG Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Dialog Group Bhd
KLSE:7277
|
$2.75 Billion |
|
Ballarpur Industries Limited
NSE:BALLARPUR
|
$2.75 Billion |
|
Lakala Payment Co Ltd
SHE:300773
|
$2.75 Billion |
|
Neptune Insurance Holdings Inc.
NYSE:NP
|
$2.75 Billion |
|
Chung-Hsin Electric & Machinery Mfg Corp
TW:1513
|
$2.75 Billion |
|
Wenzhou Yihua Connector Co Ltd
SHE:002897
|
$2.75 Billion |
|
DBG Technology Co Ltd Class A
SHE:300735
|
$2.75 Billion |
|
Bravida Holding AB
ST:BRAV
|
$2.75 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in BW LPG Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,805,031,000 to 1,829,836,275, a change of 24,805,275 (1.4%).
- Net income of 249,430,173 contributed positively to equity growth.
- Dividend payments of 205,725,104 reduced retained earnings.
- Share repurchases of 45,657,786 reduced equity.
- Other comprehensive income decreased equity by 9,612,607.
- Other factors increased equity by 36,370,599.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $249.43 Million | +13.63% |
| Dividends Paid | $205.73 Million | -11.24% |
| Share Repurchases | $45.66 Million | -2.5% |
| Other Comprehensive Income | $-9.61 Million | -0.53% |
| Other Changes | $36.37 Million | +1.99% |
| Total Change | $- | 1.37% |
Book Value vs Market Value Analysis
This analysis compares BW LPG Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.50x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 2.23x to 1.50x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-12-31 | $8.13 | $18.10 | x |
| 2017-12-31 | $7.55 | $18.10 | x |
| 2018-12-31 | $7.01 | $18.10 | x |
| 2019-12-31 | $8.49 | $18.10 | x |
| 2020-12-31 | $9.05 | $18.10 | x |
| 2021-12-31 | $9.86 | $18.10 | x |
| 2022-12-31 | $10.95 | $18.10 | x |
| 2023-12-31 | $11.05 | $18.10 | x |
| 2024-12-31 | $13.45 | $18.10 | x |
| 2025-12-31 | $12.05 | $18.10 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently BW LPG Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 13.63%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.76%
- • Asset Turnover: 1.17x
- • Equity Multiplier: 1.72x
- Recent ROE (13.63%) is above the historical average (12.95%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 2.13% | 4.79% | 0.19x | 2.34x | $-87.34 Million |
| 2017 | -4.03% | -8.68% | 0.20x | 2.29x | $-150.17 Million |
| 2018 | -6.83% | -13.68% | 0.22x | 2.30x | $-165.43 Million |
| 2019 | 23.30% | 33.51% | 0.32x | 2.17x | $156.58 Million |
| 2020 | 21.42% | 30.04% | 0.37x | 1.93x | $142.95 Million |
| 2021 | 13.13% | 14.89% | 0.51x | 1.72x | $42.95 Million |
| 2022 | 15.04% | 14.59% | 0.59x | 1.73x | $74.73 Million |
| 2023 | 33.18% | 15.95% | 1.21x | 1.71x | $340.73 Million |
| 2024 | 18.54% | 9.94% | 1.01x | 1.84x | $154.12 Million |
| 2025 | 13.63% | 6.76% | 1.17x | 1.72x | $66.45 Million |
Industry Comparison
This section compares BW LPG Limited's net assets metrics with peer companies in the Oil & Gas Midstream industry.
Industry Context
- Industry: Oil & Gas Midstream
- Average net assets among peers: $949,165,766
- Average return on equity (ROE) among peers: 34.05%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| BW LPG Limited (BWLP) | $2.03 Billion | 2.13% | 0.65x | $2.75 Billion |
| Antero Midstream Partners LP (AM) | $15.61 Million | 46.54% | 0.91x | $10.12 Billion |
| CBL International Limited Ordinary Shares (BANL) | $4.86 Million | 59.23% | 3.85x | $11.23 Million |
| BP Prudhoe Bay Royalty Trust (BPT) | $437.70 Million | 14.80% | 0.00x | $2.99 Million |
| Brooge Holdings Ltd (BROG) | $128.62 Million | 7.50% | 2.36x | $284.93 Million |
| Cheniere Energy Partners LP (CQP) | $715.00 Million | 164.34% | 26.11x | $28.10 Billion |
| Cheniere Energy Partners LP (CQP) | $1.64 Billion | -14.63% | 4.19x | $25.77 Billion |
| DHT Holdings Inc (DHT) | $1.13 Billion | 18.63% | 0.41x | $2.56 Billion |
| Dynagas LNG Partners LP (DLNG) | $313.71 Million | 1.15% | 2.15x | $128.43 Million |
| DT Midstream Inc (DTM) | $4.15 Billion | 8.91% | 1.13x | $12.24 Billion |
About BW LPG Limited
BW LPG Limited, an investment holding company, engages in ship owning and chartering activities worldwide. It operates through Shipping and Product Services segments. The company engages in the transportation of liquefied petroleum gas (LPG); provision of integrated LPG delivery services, as well as management services; wholesale and trade of LPG; and investment in commercial enterprises. As of D… Read more