BW LPG Ltd (BWLPG) - Net Assets

Latest as of December 2025: Nkr1.93 Billion NOK ≈ $202.62 Million USD

Based on the latest financial reports, BW LPG Ltd (BWLPG) has net assets worth Nkr1.93 Billion NOK (≈ $202.62 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Nkr3.15 Billion ≈ $331.98 Million USD) and total liabilities (Nkr1.23 Billion ≈ $129.35 Million USD). 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. Also explore balance sheet size of BW LPG Ltd for the complete picture of this company's asset base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Nkr1.93 Billion
% of Total Assets	61.04%
Annual Growth Rate	N/A
5-Year Change	38.94%
10-Year Change	72.33%
Growth Volatility	5653.95

BW LPG Ltd - Net Assets Trend (2009–2025)

This chart illustrates how BW LPG Ltd's net assets have evolved over time, based on quarterly financial data. For live valuation and market cap data, see market cap of BW LPG Ltd.

Annual Net Assets for BW LPG Ltd (2009–2025)

The table below shows the annual net assets of BW LPG Ltd from 2009 to 2025. Explore BW LPG Ltd operating cash flow efficiency to assess how effectively this company generates cash.

Year	Net Assets	Change
2025-12-31	Nkr1.93 Billion ≈ $202.62 Million	-0.62%
2024-12-31	Nkr1.94 Billion ≈ $203.88 Million	+22.15%
2023-12-31	Nkr1.59 Billion ≈ $166.91 Million	+1.73%
2022-12-31	Nkr1.56 Billion ≈ $164.06 Million	+12.50%
2021-12-31	Nkr1.39 Billion ≈ $145.84 Million	+10.73%
2020-12-31	Nkr1.25 Billion ≈ $131.70 Million	+6.31%
2019-12-31	Nkr1.18 Billion ≈ $123.89 Million	+19.69%
2018-12-31	Nkr983.62 Million ≈ $103.51 Million	-8.38%
2017-12-31	Nkr1.07 Billion ≈ $112.97 Million	-3.92%
2016-12-31	Nkr1.12 Billion ≈ $117.58 Million	-4.56%
2015-12-31	Nkr1.17 Billion ≈ $123.19 Million	+8.30%
2014-12-31	Nkr1.08 Billion ≈ $113.75 Million	+10.90%
2013-12-31	Nkr974.73 Million ≈ $102.57 Million	+21952.69%
2012-12-31	Nkr4.42 Million ≈ $465.11K	-85.73%
2011-12-31	Nkr30.97 Million ≈ $3.26 Million	+142.42%
2010-12-31	Nkr-73.00 Million ≈ $-7.68 Million	-113.32%
2009-12-31	Nkr-34.22 Million ≈ $-3.60 Million	--

Equity Component Analysis

This analysis shows how different components contribute to BW LPG Ltd'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 63737700000.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	Nkr605.20 Million	33.07%
Other Components	Nkr1.22 Billion	66.93%
Total Equity	Nkr1.83 Billion	100.00%

BW LPG Ltd Competitors by Market Cap

The table below lists competitors of BW LPG Ltd ranked by their market capitalization.

Company	Market Cap
Titan America SA NYSE:TTAM	$2.96 Billion
Songcheng Performance Develop SHE:300144	$2.96 Billion
Kemira Oyj HE:KEMIRA	$2.96 Billion
Wuhan Raycus Fiber Laser Technologies Co Ltd Class A SHE:300747	$2.96 Billion
Elang Mahkota Teknologi Tbk JK:EMTK	$2.96 Billion
Forehope Electronic (Ningbo) Co. Ltd. A SHG:688362	$2.96 Billion
American Eagle Outfitters Inc NYSE:AEO	$2.95 Billion
SmartCentres Real Estate Investment Trust TO:SRU-UN	$2.95 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in BW LPG Ltd'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 1,830,002,000, a change of 24,971,000 (1.4%).
Net income of 242,313,000 contributed positively to equity growth.
Dividend payments of 199,855,000 reduced retained earnings.
Share repurchases of 2,739,000 reduced equity.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	Nkr242.31 Million	+13.24%
Dividends Paid	Nkr199.85 Million	-10.92%
Share Repurchases	Nkr2.74 Million	-0.15%
Other Changes	Nkr-14.75 Million	-0.81%
Total Change	Nkr-	1.38%

Book Value vs Market Value Analysis

This analysis compares BW LPG Ltd'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: 15.31x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2009-12-31	Nkr-0.34	Nkr185.10	x
2010-12-31	Nkr-0.73	Nkr185.10	x
2011-12-31	Nkr0.22	Nkr185.10	x
2012-12-31	Nkr-0.05	Nkr185.10	x
2013-12-31	Nkr7.08	Nkr185.10	x
2014-12-31	Nkr7.87	Nkr185.10	x
2015-12-31	Nkr8.72	Nkr185.10	x
2016-12-31	Nkr8.13	Nkr185.10	x
2017-12-31	Nkr7.55	Nkr185.10	x
2018-12-31	Nkr7.01	Nkr185.10	x
2019-12-31	Nkr8.49	Nkr185.10	x
2020-12-31	Nkr9.05	Nkr185.10	x
2021-12-31	Nkr9.87	Nkr185.10	x
2022-12-31	Nkr10.75	Nkr185.10	x
2023-12-31	Nkr11.21	Nkr185.10	x
2024-12-31	Nkr11.91	Nkr185.10	x
2025-12-31	Nkr12.09	Nkr185.10	x

Capital Efficiency Dashboard

This dashboard shows how efficiently BW LPG Ltd 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): 13.24%
The company shows good efficiency in utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 6.76%
• Asset Turnover: 1.14x
• Equity Multiplier: 1.72x
Recent ROE (13.24%) is above the historical average (10.20%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2009	0.00%	-92.36%	0.20x	0.00x	Nkr-23.88 Million
2010	0.00%	-45.69%	0.35x	0.00x	Nkr-31.40 Million
2011	-18.82%	-1.77%	0.24x	44.42x	Nkr-6.39 Million
2012	0.00%	-5.68%	0.34x	0.00x	Nkr-20.98 Million
2013	12.93%	27.77%	0.28x	1.69x	Nkr28.24 Million
2014	23.76%	34.06%	0.45x	1.55x	Nkr147.43 Million
2015	27.90%	41.89%	0.37x	1.82x	Nkr207.86 Million
2016	2.19%	4.79%	0.20x	2.34x	Nkr-86.75 Million
2017	-3.99%	-8.68%	0.20x	2.29x	Nkr-149.71 Million
2018	-7.26%	-13.68%	0.23x	2.30x	Nkr-169.71 Million
2019	23.26%	33.51%	0.32x	2.17x	Nkr156.11 Million
2020	19.48%	30.04%	0.34x	1.93x	Nkr118.70 Million
2021	13.47%	26.87%	0.29x	1.72x	Nkr47.61 Million
2022	15.62%	14.54%	0.62x	1.74x	Nkr81.80 Million
2023	31.98%	15.95%	1.17x	1.71x	Nkr322.99 Million
2024	19.63%	9.94%	1.07x	1.84x	Nkr173.79 Million
2025	13.24%	6.76%	1.14x	1.72x	Nkr59.31 Million

Industry Comparison

This section compares BW LPG Ltd's net assets metrics with peer companies in the Marine Shipping industry.

Industry Context

Industry: Marine Shipping
Average net assets among peers: $345,494,806
Average return on equity (ROE) among peers: -1.56%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
BW LPG Ltd (BWLPG)	Nkr1.93 Billion	0.00%	0.64x	$2.96 Billion
2020 Bulkers Ltd (2020)	$151.90 Million	50.23%	0.76x	$7.25 Million
ADS Maritime Holding Plc (ADS)	$55.99 Million	0.00%	0.65x	$18.68 Million
American Shipping Company ASA (AMSC)	$72.80 Million	42.46%	11.81x	$7.19K
Golden Energy Offshore Services AS (GEOS)	$71.31 Million	-140.83%	3.12x	$58.11 Million
Golden Ocean Group Ltd (GOGL)	$315.16 Million	6.18%	0.45x	$1.75 Billion
Hafnia Ltd (HAFNI)	$554.11 Million	12.24%	1.45x	$4.30 Billion
Hoegh Autoliners ASA (HAUTO)	$671.70 Million	-9.37%	1.29x	$2.66 Billion
Havila Shipping ASA (HAVI)	$1.13 Billion	27.25%	2.90x	$32.72 Million
Himalaya Shipping Ltd (HSHP)	$90.69 Million	-2.21%	0.97x	$623.43 Million

About BW LPG Ltd

OL:BWLPG Norway Marine Shipping

Market Cap

$2.96 Billion

Nkr28.10 Billion NOK

Market Cap Rank

#4975 Global

#30 in Norway

Share Price

Nkr185.10

Change (1 day)

-0.86%

52-Week Range

Nkr103.50 - Nkr186.70

All Time High

Nkr202.47