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Dorian LPG (LPG) FY2025 results: revenue $353 million, down 37.0% on the year

Dorian LPG Ltd. (LPG) reported revenue of $353 million for fiscal 2025, the year ended 31 March 2025, down 37.0% on the year before. Net income was $90 million, down 70.7%, and diluted earnings per share $2.14. The figures are the company's own, from the 10-K it filed with the SEC on 29 May 2025.

Revenue
$353 million
-37.0% on the year
FY2018FY2025
Operating margin
31.9%
58.6% a year earlier
FY2018FY2025
Net income
$90 million
-70.7% on the year
FY2018FY2025
Diluted EPS
$2.14
-71.8% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025

Income statement (profit and loss)

$ millionFY2025FY2024FY2023On the yearLast 8 years
Revenue353561390-37.0%
Operating income113329198-65.7%
Operating margin31.9%58.6%50.9%
Interest expense35.840.531.4-11.5%
Net income90.2307172-70.7%
Net margin25.5%54.8%44.2%
Diluted EPS$2.14$7.60$4.29-71.8%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2025FY2024FY2023On the yearLast 8 years
Operating cash flow173388224-55.5%
Capital expendituren/an/a68.8
Free cash flown/an/a155
Free cash flow marginn/an/a39.8%
Cash from investing-7.4-34.8-76.3
Cash from financing-131-220-235
Depreciation and amortisation69.668.763.4+1.4%
Share-based compensation10.48.34.3+25.1%
Buybacks6.33.91.7+59.0%
Dividends paid156162221-3.6%
Dividend per share$3.70$4.00$5.50-7.5%
Diluted shares, weighted42m40m40m+4.4%
Shares outstanding at period end43m41m40m+5.2%

Balance sheet

$ millionFY2025FY2024FY2023On the yearLast 8 years
Shareholders' equity1,0461,024874+2.2%
Debt553605657-8.6%
Operating lease liabilities124159135-21.9%
Other liabilities54.949.842.9+10.2%
Total liabilities and equity1,7791,8381,709-3.2%
Fixed assets1,1871,2321,264-3.7%
Investmentsn/a11.511.4
Cash and equivalents317283149+12.2%
Receivables1.40.73.3+105.7%
Inventory2.52.42.6+4.8%
Other assets271308279-12.1%
Total assets1,7791,8381,709-3.2%

10-K for the year ended 31 March 2025, filed 29 May 2025: the filing.