BW LPG Limited (BWLP) Revenue History
Annual and quarterly revenue from 2016 to present
BWLP Revenue Over Time (2016–2025)
BWLP Revenue Growth History
8 of 9 years with positive growth- FY2016 revenue growth
- N/A
- FY2017 revenue growth
- +0.6%
- FY2018 revenue growth
- -1.3%
- FY2019 revenue growth
- +66.9%
- FY2020 revenue growth
- +9.0%
- FY2021 revenue growth
- +35.5%
- FY2022 revenue growth
- +26.4%
- FY2023 revenue growth
- +100.1%
- FY2024 revenue growth
- +10.0%
- FY2025 revenue growth
- +9.6%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $842.0M | -7.1% |
| Q4 2025 | $732.7M | -10.3% |
| Q3 2025 | $954.2M | +17.1% |
| Q2 2025 | $1.06B | +20.7% |
| Q1 2025 | $906.7M | -10.2% |
| Q4 2024 | $817.2M | -12.9% |
| Q3 2024 | $814.6M | +16.5% |
| Q2 2024 | $882.4M | +92.9% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
BWLP's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
BWLP Revenue Analysis (2016–2025)
Current Revenue & Growth
As of June 22, 2026, BW LPG Limited (BWLP) generated trailing twelve-month (TTM) revenue of $3.59 billion, reflecting moderate decline in growth of -7.1% year-over-year. The most recent quarter (Q1 2026) recorded $842.0 million in revenue, up 14.9% sequentially.
Historical Growth Trajectory
BWLP's 5-year compound annual growth rate (CAGR) stands at +32.8%, indicating outstanding long-term growth trajectory. The 3-year CAGR of +34.1% exceeds the 5-year average, indicating an acceleration in the most recent period. BW LPG Limited's highest annual revenue of $3.69 billion was recorded in 2025, an all-time high.
Revenue by Segment
BWLP's revenue is primarily driven by Cargo Sales (70%), Spot Voyages (20%), and Time Charter (9%). With over half of revenue concentrated in Cargo Sales, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Industrials sector peers — including DLNG (+0.0% YoY), FLNG (-4.2% YoY), and STNG (-2.8% YoY) — BWLP has underperformed the peer group in revenue growth. Compare BWLP vs DLNG →
BWLP Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| BWLPCurrent | $3.6B | -7.1% | +32.8% | 8.3% | |
 DLNG | $157M | +0.0% | +2.7% | 48.1% | |
 FLNG | $348M | -4.2% | +16.1% | 50.6% | |
 STNG | $938M | -2.8% | +0.5% | 33.0% | |
 INSW | $843M | +14.5% | +14.9% | 36.3% | |
 TNK | $952M | -12.8% | +1.4% | 22.6% |
BWLP Historical Revenue Data (2016–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $3.69B | +9.6% | $532.2M | 14.4% | $307.1M | 8.3% |
| 2024 | $3.37B | +10.0% | $554.3M | 16.5% | $387.2M | 11.5% |
| 2023 | $3.06B | +100.1% | $698.5M | 22.8% | $501.3M | 16.4% |
| 2022 | $1.53B | +26.4% | $400.3M | 26.2% | $242.1M | 15.8% |
| 2021 | $1.21B | +35.5% | $299.7M | 24.8% | $147.2M | 12.2% |
| 2020 | $892.5M | +9.0% | $437.9M | 49.1% | $274.8M | 30.8% |
| 2019 | $818.6M | +66.9% | $421.7M | 51.5% | $270.8M | 33.1% |
| 2018 | $490.4M | -1.3% | $188.2M | 38.4% | $3.2M | 0.7% |
| 2017 | $497.0M | +0.6% | $210.3M | 42.3% | $-7,511,000 | -1.5% |
| 2016 | $494.2M | - | $299.7M | 60.7% | $108.8M | 22.0% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
10+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
BWLP — Frequently Asked Questions
Quick answers to the most common questions about buying BWLP stock.
Is BWLP's revenue growth accelerating or slowing?
BWLP revenue is declining -7.1% year-over-year. TTM revenue fell to $3.6B, contrasting with the 5-year CAGR of +32.8%. The reversal reflects either macro headwinds or company-specific challenges.
What is BWLP's revenue history from 2016 to 2026?
BW LPG Limited (BWLP) revenue history spans 2016 to 2026. TTM revenue as of 2026 is $3.6B, growing at -7.1% YoY. The 5-year CAGR is +32.8%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is BWLP's long-term revenue growth rate (CAGR)?
BW LPG Limited's 5-year revenue CAGR of +32.8% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -7.1% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for BWLP.
Why does BWLP's quarterly revenue fluctuate?
BWLP quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. BW LPG Limited's revenue data from 2016 to 2026 shows full historical quarterly detail on this page.
How is BWLP's revenue distributed by segment?
BWLP reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does BWLP's revenue compare to industry peers?
BW LPG Limited (BWLP) with TTM revenue of $3.6B and -7.1% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.