Latest Ratios: P/E Ratio 1.6x · EV/EBITDA 3.3x · ROE 12.9%. (2011–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $111M | $138M | $200M | $103M | $96M | $105M | $89M | $75M | $120M | $375M | $328M |
| Enterprise Value | $347M | $374M | $453M | $449M | $591M | $620M | $672M | $712M | $723M | $1.0B | $987M |
| P/E Ratio → | 1.64 | 2.23 | 5.18 | 4.24 | 2.28 | 2.54 | 3.97 | — | 33.70 | 40.22 | 9.46 |
| P/S Ratio | 0.69 | 0.88 | 1.28 | 0.64 | 0.73 | 0.77 | 0.65 | 0.57 | 0.94 | 2.70 | 1.93 |
| P/B Ratio | 0.24 | 0.29 | 0.41 | 0.23 | 0.23 | 0.28 | 0.26 | 0.24 | 0.37 | 1.18 | 0.89 |
| P/FCF | 1.50 | 1.53 | 2.17 | 1.71 | 1.80 | 1.33 | 1.30 | 1.73 | 2.81 | 6.32 | 4.95 |
| P/OCF | 1.23 | 1.53 | 2.17 | 1.60 | 1.68 | 1.33 | 1.30 | 1.73 | 2.78 | 6.32 | 3.16 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.39 | 2.89 | 2.80 | 4.49 | 4.50 | 4.90 | 5.44 | 5.68 | 7.35 | 5.81 |
| EV / EBITDA | 3.27 | 3.47 | 4.13 | 4.64 | 7.66 | 6.44 | 6.99 | 7.86 | 8.67 | 10.84 | 7.45 |
| EV / EBIT | 4.61 | 4.58 | 5.55 | 6.13 | 7.42 | 8.61 | 11.54 | 14.17 | 14.31 | 17.90 | 9.89 |
| EV / FCF | — | 4.14 | 4.91 | 7.46 | 11.01 | 7.80 | 9.79 | 16.49 | 16.97 | 17.22 | 14.91 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 53.6% | 53.6% | 55.1% | 45.6% | 41.3% | 53.5% | 53.6% | 52.8% | 48.4% | 51.7% | 64.7% |
| Operating Margin | 48.1% | 48.1% | 49.5% | 40.3% | 34.4% | 46.9% | 46.9% | 45.8% | 41.7% | 46.0% | 60.1% |
| Net Profit Margin | 39.4% | 39.4% | 33.0% | 22.4% | 41.0% | 38.7% | 24.8% | 2.8% | 2.8% | 12.5% | 39.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.9% | 12.9% | 11.1% | 8.2% | 13.4% | 14.8% | 10.5% | 1.1% | 1.1% | 5.1% | 18.2% |
| ROA | 7.5% | 7.5% | 5.9% | 3.9% | 5.6% | 5.5% | 3.5% | 0.4% | 0.3% | 1.6% | 6.0% |
| ROIC | 7.8% | 7.8% | 7.6% | 5.8% | 3.8% | 5.3% | 5.2% | 4.8% | 4.2% | 4.8% | 7.5% |
| ROCE | 10.2% | 10.2% | 12.8% | 9.7% | 5.1% | 7.2% | 7.0% | 7.0% | 5.8% | 6.1% | 9.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.59 | 0.59 | 0.66 | 0.94 | 1.17 | 1.47 | 1.81 | 2.08 | 2.18 | 2.24 | 1.95 |
| Debt / EBITDA | 2.57 | 2.57 | 2.93 | 4.34 | 6.44 | 5.83 | 6.33 | 7.21 | 8.56 | 7.58 | 5.41 |
| Net Debt / Equity | — | 0.50 | 0.52 | 0.77 | 1.17 | 1.35 | 1.73 | 2.03 | 1.85 | 2.03 | 1.79 |
| Net Debt / EBITDA | 2.19 | 2.19 | 2.31 | 3.58 | 6.41 | 5.35 | 6.07 | 7.03 | 7.24 | 6.86 | 4.97 |
| Debt / FCF | — | 2.61 | 2.74 | 5.75 | 9.21 | 6.47 | 8.49 | 14.75 | 14.16 | 10.90 | 9.96 |
| Interest Coverage | 4.08 | 4.08 | 2.72 | 1.87 | 2.85 | 3.36 | 2.15 | 0.98 | 1.00 | 1.23 | 2.85 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.52 | 0.52 | 0.93 | 0.23 | 1.06 | 0.79 | 0.43 | 0.28 | 0.41 | 3.07 | 1.13 |
| Quick Ratio | 0.50 | 0.50 | 0.92 | 0.23 | 1.04 | 0.77 | 0.42 | 0.27 | 0.41 | 3.04 | 1.12 |
| Cash Ratio | 0.52 | 0.52 | 0.81 | 0.16 | 0.69 | 0.73 | 0.40 | 0.25 | 0.40 | 2.95 | 1.09 |
| Asset Turnover | — | 0.20 | 0.18 | 0.18 | 0.14 | 0.14 | 0.14 | 0.13 | 0.12 | 0.13 | 0.15 |
| Inventory Turnover | 60.41 | 60.41 | 78.57 | 116.31 | 87.38 | 70.41 | 78.74 | 85.99 | 53.77 | 84.10 | 71.81 |
| Days Sales Outstanding | — | 5.48 | 11.89 | 15.44 | 0.19 | 0.24 | 1.02 | 0.40 | 0.14 | 0.41 | 0.21 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 15.1% | 12.3% | 7.4% | 11.2% | 12.0% | 11.0% | 13.0% | 21.9% | 40.5% | 17.8% | 20.4% |
| Payout Ratio | 27.4% | 27.4% | 28.7% | 32.2% | 21.4% | 21.7% | — | 453.7% | 1340.2% | 385.6% | 100.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 60.9% | 44.8% | 19.3% | 23.6% | 43.9% | 39.4% | 25.2% | — | 3.0% | 2.5% | 10.6% |
| FCF Yield | 66.8% | 65.5% | 46.0% | 58.4% | 55.7% | 75.4% | 77.2% | 57.7% | 35.6% | 15.8% | 20.2% |
| Buyback Yield | 1.2% | 1.0% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 16.3% | 13.2% | 7.5% | 11.2% | 12.0% | 11.0% | 13.0% | 22.1% | 40.5% | 17.8% | 20.4% |
| Shares Outstanding | — | $37M | $37M | $37M | $37M | $37M | $36M | $35M | $35M | $35M | $21M |
Includes 30+ ratios · 15 years · Updated daily
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Quick answers to the most common questions about buying DLNG stock.
Dynagas LNG Partners LP's current P/E ratio is 1.6x. The historical average is 10.7x.
Dynagas LNG Partners LP's current EV/EBITDA is 3.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.3x.
Dynagas LNG Partners LP's return on equity (ROE) is 12.9%. The historical average is 16.7%.
Based on historical data, Dynagas LNG Partners LP is trading at a P/E of 1.6x. Compare with industry peers and growth rates for a complete picture.
Dynagas LNG Partners LP's current dividend yield is 15.10% with a payout ratio of 27.4%.
Dynagas LNG Partners LP has 53.6% gross margin and 48.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Dynagas LNG Partners LP's Debt/EBITDA ratio is 2.6x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Charter Concentration and Refinancing Exposure
Deep Discount Pricing Signals Skepticism
Based on reported figures, DLNG trades at a trailing P/E of 1.81 and EV/EBITDA of 3.23, far below GLNG's 32.28x and FLNG's 11.13x, suggesting the market applies a steep discount to its contracted cash flows.
A trailing P/E near 1.8 against a forward P/E of 2.64 implies earnings expected to decline slightly, and a PEG of 0.08 indicates the market assigns almost no value to growth. This pattern is more consistent with pricing for charter concentration and limited renewal visibility than with a mispriced asset base. Investors should monitor whether the 15.1% dividend yield is covered by distributable cash flow rather than treating the yield as a standalone value signal.
Stable Margins Mask Non-Operating Earnings Swings
As reported in quarterly statements, DLNG's operating margin held between 41.3% and 50.8%, yet net margin ranged from 28.5% to 48.0%, a spread that points to non-operating items influencing reported earnings.
The operating margin band is narrow and consistent with a fixed charter structure, while the wider net margin range suggests financing or other non-operating components drive the bottom line. Operating margin appears to be the more reliable gauge of underlying earning power for this vessel-based model. Net margin should be treated with caution until the drivers of its variation are clearer from the filings.
Deleveraging Improves Coverage but Remains Notable
Based on DLNG's reported figures, debt-to-EBITDA moved from 14.93x in 2024Q1 to 9.17x in 2026Q2 while interest coverage rose from 2.31x to 5.17x, indicating debt service appears to be becoming more comfortable.
The reduction in debt-to-EBITDA reflects both amortization and rising earnings, with total debt falling roughly 37 percent over the period. Interest coverage above 5x is a meaningful improvement from the 2.3x trough in mid-2024. Even so, a debt-to-EBITDA above 9x remains elevated, so refinancing terms and charter renewals warrant further investigation.
Low Returns Reflect Heavy Vessel Capital Base
According to reported figures, DLNG's ROIC has held in a tight 1.8% to 2.1% band and ROE between 2.3% and 4.1%, well below the 6.1% ROIC posted by FLNG, pointing to a capital-intensive asset base that compounds slowly.
Returns appear constrained by the large net PP&E base of roughly $717M relative to earnings, a structural feature of LNG carrier ownership rather than necessarily a sign of operational weakness. The stability of ROIC suggests returns are steady rather than decaying. Compounding will likely depend on whether future charters are signed at rates that lift returns above current levels.
Thin Liquidity Buffer Under Stress
As reported in quarterly balance sheets, DLNG's current ratio stood at 0.52 in 2025Q4 and quick ratio at 0.50, indicating current liabilities exceed liquid assets and leaving a limited cushion for short-term obligations.
A current ratio below 1.0 is common for contracted shipping partnerships with predictable cash receipts, but it leaves little room if charter payments are delayed. The quick ratio closely tracks the current ratio, so inventory does not appear to be a material factor. Under severe stress, the cash balance of roughly $35M to $78M would be the primary source of liquidity, which investors should monitor against scheduled debt amortization.
Misapplied Metric Obscures Distributable Cash
Based on reported figures, the P/E ratio is most often misapplied to DLNG because depreciation of roughly $8.0M per quarter depresses earnings, making a 1.81x P/E understate how much cash the vessels generate.
For a vessel-owning partnership, net income is reduced by large non-cash depreciation, so P/E can look artificially low or misleading relative to cash generation. Price-to-distributable-cash-flow or EV/EBITDA, adjusted for maintenance capital and debt service, is a more appropriate lens. Investors should monitor whether reported operating cash flow, which exceeded net income in most quarters, is sustained after vessel maintenance requirements are reflected.