ValueScreener company report

BW LPG Limited (BWLP)

Name: BW LPG Limited (BWLP) filed financial figures
Creator: ValueScreener

NYSE / Industrials / Marine Shipping

Share price

24.48 USD Market dataClose of Oct 15, 2026

Market capitalisation

3.72B USD Market dataClose of Oct 15, 2026

Market data: Oct 15, 2026
Filed accounts: FY2025, filed Mar 31, 2026
Ratios computed: Oct 15, 2026
Filed years: 4, FY2022 to FY2025

Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means

SEC filingFiled with the SEC: Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement: What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data: Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener: Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.

Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Quality

Return on invested capital, after tax

12.9% Computed

From the FY2025 filing

Read quality

Financial strength

Debt to equity

0.54 Computed

From the FY2025 filing

Read financial strength

Valuation

Price to earnings

15.34x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

10.4% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, by fiscal year

Revenue Net income10 fiscal years; a year whose statement names no SEC filing is market data, and the table in Filings says which.

Named tests met: 2 of 30 Which tests

The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 15.34x at the close of 2026-10-15 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 15.00x and 25.00x.

Today, against the Marine Shipping industry (33 companies), 15.34x sits at the 60th percentile; the middle half of that group runs from 3.63x to 21.53x.

Is it good

Return on invested capital was 12.9% in FY2025, in the band labelled "Above the cost of capital" (12.0% to 20.0%), on lines anchored on Damodaran's cost-of-capital data.

Today, against the Industrials sector (316 companies), 12.9% sits at the 67th percentile; the middle half of that group runs from 3.4% to 15.3%.

Is it safe

Debt to equity was 0.54 in FY2025, in the band labelled "Within Graham's industrial limit" (0.50 to 1.00), on lines anchored on Graham's defensive-investor criteria.

Today, against the Industrials sector (433 companies), 0.54 sits at the 43rd percentile; the middle half of that group runs from 0.28 to 1.21.

Year by year against peers: Whether BW LPG Limited's return on invested capital stayed above the median of the Industrials sector, year by year. (FY2023 to FY2025, 3 fiscal years of BW LPG Limited with a comparable figure)
The direction: Which way BW LPG Limited's return on equity has moved, and how steadily. (FY2016 to FY2025, 9 filed years of BW LPG Limited)
What could explain it: What in BW LPG Limited's filed statements could explain the movements. (5 readings drawn from the statement lines BW LPG Limited filed)
What to check next: What to check next on BW LPG Limited, and where in its filings. (1 question for BW LPG Limited)
In one paragraph: One paragraph on BW LPG Limited's returns, cash, balance sheet and price. (8 of sixteen figures read for BW LPG Limited)

These are BWLP’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research BWLPPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 20-F, filed Mar 31, 2026, accession 0001104659-26-037215.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

BW LPG Limited: returns on capital and margins, each with its source
Figure	Value, source and document
Return on invested capital, after tax	12.9% ComputedFY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Return on equity	13.2% ComputedFY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Return on capital employed, pre-tax	12.8% ComputedFY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Return on assets	7.7% ComputedFY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Gross margin Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedFY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Operating margin Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedFY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Net margin Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedFY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

BW LPG Limited: leverage, liquidity and distress, each with its source
Figure	Value, source and document
Debt to equity	0.54 ComputedFY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Current ratio	1.53 ComputedFY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Quick ratio	1.24 ComputedFY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Interest coverage Why n/a No interest expense is filed for this year, so coverage is not computed.	n/a ComputedFY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Altman Z-score Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Net debt	748.2M ComputedFY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215

Total assets Total liabilities Shareholders’ equity

The balance sheet, line by line

Financial health

What BW LPG Limited owned and owed at the end of fiscal 2025, from the balance sheet it filed (20-F, filed Mar 31, 2026, 0001104659-26-037215).

BW LPG Limited: balance sheet position
Total assets	3.15B FiledFY2025 20-F, filed Mar 31, 2026
Total liabilities	1.22B FiledFY2025 20-F, filed Mar 31, 2026
Shareholders' equity	1.83B FiledFY2025 20-F, filed Mar 31, 2026
Cash	242.0M FiledFY2025 20-F, filed Mar 31, 2026
Total debt	990.2M FiledFY2025 20-F, filed Mar 31, 2026
Net debt	748.2M
Current ratio	1.53
Debt to equity	0.54

Interest cover: FY2025: No interest expense is filed for this year, so coverage is not computed.

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

BW LPG Limited: what the market charges, each with its source
Figure	Value, source and document
Price to earnings	15.34x ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
P/E on trailing twelve months Why n/a A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.	n/a ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book	2.03x ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Price to sales Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Enterprise value to EBIT	12.83x ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Enterprise value to EBITDA Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Price to earnings over growth Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Diluted earnings per share Why n/a The FY2025 filing carries no diluted earnings per share we could read.	n/a FiledFY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Graham number Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedFY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215

We publish no fair value or price target of our own. Value BWLP on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for BW LPG Limited today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

BW LPG Limited: valuation
Share price	24.48 USD
Market capitalisation	3.72B USD
Enterprise value to EBITDA	n/a
Graham number	n/a
Diluted earnings per share, FY2021	n/a

Price to earnings on trailing twelve months: A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

Companies like BW LPG Limited

Same industry (Marine Shipping) and size band (Mid, 2B to 10B), nearest in market value and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

BW LPG Limited: cash generation and what is paid out, each with its source
Figure	Value, source and document
Free cash flow yield	10.4% ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Free cash flow	385.1M USD ComputedFY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Free cash flow margin Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedFY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Dividend yield Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Payout ratio Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedFY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215

Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

BW LPG Limited: the eight ratios, with the fiscal year and filing date behind each.
Figure	Value	Year	As of
	15.34x	FY2025	Oct 15, 2026
FormulaShare price / earnings per share. Where the filing states no earnings per share this listing can be priced on, which is every 20-F and 40-F filer because theirs is stated per ordinary share, it is market capitalisation / net income: the same multiple, undiluted. As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form20-FFiledMar 31, 2026PeriodFY2025Accession0001104659-26-037215What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-037215, leaves this page and opens in a new tab
	2.03x	FY2025	Oct 15, 2026
FormulaMarket capitalisation / shareholders equity As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form20-FFiledMar 31, 2026PeriodFY2025Accession0001104659-26-037215What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-037215, leaves this page and opens in a new tab
	12.83x	FY2025	Oct 15, 2026
Formula(Market capitalisation + total debt - cash) / operating income, or over the filing's own EBIT (income before tax + interest expense) where the filer tags no operating line, as Johnson & Johnson does not in any of its ten filed years. As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form20-FFiledMar 31, 2026PeriodFY2025Accession0001104659-26-037215What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-037215, leaves this page and opens in a new tabForm20-FFiledMar 31, 2026PeriodFY2025Accession0001104659-26-037215What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-037215, leaves this page and opens in a new tab
	10.4%	FY2025	Oct 15, 2026
FormulaFree cash flow per share / share price x 100 As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form20-FFiledMar 31, 2026PeriodFY2025Accession0001104659-26-037215What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001104659-26-037215, leaves this page and opens in a new tab
	12.9%	FY2025	Mar 31, 2026
FormulaVendor trailing-twelve-month return on invested capital where one is published, which uses after-tax operating profit over total assets less current liabilities. Otherwise our own recompute: NOPAT / (shareholders equity + total debt - cash) x 100, where NOPAT is the filed operating profit after tax, or the filing's own EBIT after tax where the filer tags no operating line. As ofThe filing date of the statements below, for FY2025. Form20-FFiledMar 31, 2026PeriodFY2025Accession0001104659-26-037215What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-037215, leaves this page and opens in a new tabForm20-FFiledMar 31, 2026PeriodFY2025Accession0001104659-26-037215What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-037215, leaves this page and opens in a new tab
	n/a	FY2025	Oct 15, 2026
n/a The filed cash flow statement reports no dividend paid at all. That is not the same as a filed zero, and we will not read it as one.
FormulaCommon dividends paid in the latest filed year / market capitalisation x 100. n/a where the filing cannot support it: a special or first-year payment, a total that mixes preferred dividends, or a cash-flow statement over 15 months old. As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form20-FFiledMar 31, 2026PeriodFY2025Accession0001104659-26-037215What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001104659-26-037215, leaves this page and opens in a new tab
	0.54	FY2025	Mar 31, 2026
FormulaTotal debt / shareholders equity As ofThe filing date of the statements below, for FY2025. Form20-FFiledMar 31, 2026PeriodFY2025Accession0001104659-26-037215What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-037215, leaves this page and opens in a new tab
	1.53	FY2025	Mar 31, 2026
FormulaCurrent assets / current liabilities As ofThe filing date of the statements below, for FY2025. Form20-FFiledMar 31, 2026PeriodFY2025Accession0001104659-26-037215What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-037215, leaves this page and opens in a new tab
	n/a	FY2025	Oct 15, 2026
n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
FormulaMarket capitalisation / revenue As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form20-FFiledMar 31, 2026PeriodFY2025Accession0001104659-26-037215What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-037215, leaves this page and opens in a new tab
	n/a	FY2025	Oct 15, 2026
n/a The filed income statement reports no earnings per share.
FormulaPrice to earnings / the annual earnings growth rate, in percentage points As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form20-FFiledMar 31, 2026PeriodFY2025Accession0001104659-26-037215What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-037215, leaves this page and opens in a new tab
	n/a	FY2025	Oct 15, 2026
n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
Formula1.2 x working capital/assets + 1.4 x retained earnings/assets + 3.3 x EBIT/assets + 0.6 x market value of equity/total liabilities + 1.0 x revenue/assets As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form20-FFiledMar 31, 2026PeriodFY2025Accession0001104659-26-037215What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-037215, leaves this page and opens in a new tabForm20-FFiledMar 31, 2026PeriodFY2025Accession0001104659-26-037215What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-037215, leaves this page and opens in a new tab
	n/a	FY2025	Mar 31, 2026
n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
FormulaAn eight-variable index of year-on-year changes in receivables, gross margin, asset quality, revenue, depreciation, overheads, leverage and accruals As ofThe filing date of the statements below, for FY2025. Form20-FFiledMar 31, 2026PeriodFY2025Accession0001104659-26-037215What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-037215, leaves this page and opens in a new tabForm20-FFiledMar 31, 2026PeriodFY2025Accession0001104659-26-037215What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-037215, leaves this page and opens in a new tabForm20-FFiledMar 31, 2026PeriodFY2025Accession0001104659-26-037215What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001104659-26-037215, leaves this page and opens in a new tab
	n/a	FY2025	Mar 31, 2026
n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
FormulaOne point each for: positive return on assets, positive operating cash flow, rising return on assets, operating cash flow above net income, falling leverage, rising current ratio, no new shares issued, rising gross margin, rising asset turnover. As ofThe filing date of the statements below, for FY2025. Form20-FFiledMar 31, 2026PeriodFY2025Accession0001104659-26-037215What we read from itIncome statementFY2025Open on SEC.gov, accession 0001104659-26-037215, leaves this page and opens in a new tabForm20-FFiledMar 31, 2026PeriodFY2025Accession0001104659-26-037215What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001104659-26-037215, leaves this page and opens in a new tabForm20-FFiledMar 31, 2026PeriodFY2025Accession0001104659-26-037215What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001104659-26-037215, leaves this page and opens in a new tab

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 4 filed fiscal years on record, FY2022 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 fiscal years, FY2016 to FY2025. 4 read from the annual reports BW LPG Limited filed with the SEC, each naming its filing; the rest from statements that name none, which are market data. Amounts in USD, as reported.

BW LPG Limited: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
Year	Revenue	Operating income	Net income	EPS, diluted	Free cash flow	Operating margin	Return on equity	Filing
FY2025	n/a	348.0M	242.3M	n/a	385.1M	n/a	13.2%	20-F, Mar 31, 20260001104659-26-037215
FY2024	n/a	433.7M	354.3M	n/a	147.1M	n/a	19.6%	20-F, Mar 28, 20250001104659-25-028922
FY2023	n/a	523.7M	470.0M	n/a	397.3M	n/a	32.0%	20-F, Mar 28, 20250001104659-25-028922
FY2022	n/a	270.8M	227.4M	n/a	459.1M	n/a	n/a	20-F, Mar 28, 20250001104659-25-028922
FY2021	1.21B	147.2M	180.0M	1.30	119.5M	12.2%	13.1%	Market data, supplied Oct 15, 2026accession n/a
FY2020	892.5M	274.8M	268.1M	1.94	331.3M	30.8%	21.4%	Market data, supplied Oct 15, 2026accession n/a
FY2019	818.6M	270.8M	274.3M	1.98	312.1M	33.1%	23.3%	Market data, supplied Oct 15, 2026accession n/a
FY2018	490.4M	3.2M	-67.1M	-0.48	77.6M	0.7%	-6.8%	Market data, supplied Oct 15, 2026accession n/a
FY2017	497.0M	-7.5M	-43.1M	-0.30	-16.9M	-1.5%	-4.0%	Market data, supplied Oct 15, 2026accession n/a
FY2016	494.2M	108.8M	23.7M	0.17	11.8M	22.0%	2.1%	Market data, supplied Oct 15, 2026accession n/a

Revenue, compound annual growth FY2016 to FY2021: 19.6%
Earnings, compound annual growth FY2016 to FY2025: 29.5%
Earnings per share, compound annual growth FY2016 to FY2021: 50.2%
Free cash flow, compound annual growth FY2016 to FY2025: 47.2%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

BW LPG Limited: accounting screens and published tests, each with its source
Figure	Value, source and document
Beneish M-score Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedFY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Piotroski F-score Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedFY2025 20-F, filed Mar 31, 2026, 0001104659-26-037215
Named tests met	2 of 30 Computed
Beta	1.10 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 2 met, 20 not met, 8 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)

Meets: ROIC at or above WACC; Cash-flow yield and ROIC
Does not: Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Low PEG, low debt (Peter Lynch); High returns and growth; Low beta, profitable; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Not measured: Three forensic scores; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; High yield, low payout; Dividends and buybacks; P/E times P/B (Benjamin Graham); Cash-covered dividend; Clean books, high ROIC. A test with a figure we could not read is incomplete, never met and never failed.

Figures we could not read(18)

Positive Earnings Streak: The latest filed year has no per-share earnings we can read; the test needs 10.
Piotroski F-Score: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
Altman Z-Score: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
Beneish M-Score: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
Rev Growth 5Y: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
Gross Margin: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
Asset Turnover: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
EV/EBITDA: We do not hold this figure for this company, so there is nothing to show.
Interest Coverage: No interest expense is filed for this year, so coverage is not computed.
Dividend Yield: We do not hold this figure for this company, so there is nothing to show.
Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
Share Count Change Yoy: We do not hold this figure for this company, so there is nothing to show.
Price To Graham: We do not hold this figure for this company, so there is nothing to show.
P/S Ratio: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.
Dividend Streak: The stored figure is a zero that can stand for data we do not hold, so this test is not measured.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

Value it in the DCF workbench

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

What this cannot tell you

18 figures could not be read on this company, among them Positive Earnings Streak, Piotroski F-Score, Altman Z-Score. Each blank in the table above names the rest, with its reason. 8 named tests come back incomplete because of them, which is neither met nor missed.
We hold 4 filed fiscal years rather than 10, so the run above is shorter than a full decade and is counted as what it is.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

Monitor my portfolio How this is computed

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Analyze your own portfolio

ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Four questions, at a glance

Quality

Financial strength

Valuation

Cash generation

Revenue and net income, by fiscal year

The reading, in brief

Financial health

Valuation

Companies like BW LPG Limited

The filed figures

Ten years of filed figures

The named tests

What this cannot tell you

Margin Notes