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Owner and operator of the world's largest fleet of handysize liquefied gas carriers, transporting LPG and petrochemical gases.
Owner and operator of the world's largest fleet of handysize liquefied gas carriers, transporting LPG and petrochemical gases.
Earns by chartering its ships, partly on fixed-rate contracts of months to years and partly on single voyages at market rates, so earnings swing with ship supply and trade flows. A Texas ethylene export terminal, run as a joint venture with Enterprise Products Partners, diversified the business beyond shipping.
In one line: A specialized handysize gas-carrier shipping company.
Moat: narrow (scale, installed base). Largest handysize gas-carrier fleet with specialized cargo-handling capability rivals lack.
Headquarters: London, United Kingdom · Founded: 1997 · Employees: 175
Size Navigator (NVGS) is a United States Energy company (Marine Shipping) with a market value of $1.21B, the 2138th largest of 3,117 United States companies the cockpit tracks. Shares closed at $19.84 on 6 Nov 2026.
Performance Over six months the shares fell 13.8%, against +3.2% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd lowest of 16 in its peer set.
Growth Revenue grew 6.6% over the last twelve months (peer median +23.2%); the operating margin is 25.2% (peer median 38.8%).
Valuation It trades at 11.0× forward earnings against a peer median of 4.9× (4th most expensive of 15).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -14 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.2 points below its cost of capital (6.8% WACC).
Short interest Short interest is 2.2% of the free float (15 Oct 2026).
Next results Next results expected around 17 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $616M | $587M | $567M | $551M | $474M |
| Revenue growth | — | +4% | +3% | +16% | — |
| Gross profit | $196M | $177M | $180M | $164M | $83.0M |
| EBITDA | $281M | $275M | $276M | $262M | $182M |
| Net income | $185M | $100M | $85.6M | $82.3M | $53.5M |
| Free cash flow | $166M | $65.9M | $196M | $13.5M | $112M |
| Capital expenditure | $51.3M | $154M | $41.4M | $192M | $45.8M |
| Total debt | $768M | $903M | $857M | $857M | $811M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Navigator NVGS | $1.21B | -14% | +7% | 25% | 11.0× | -2.2% |
| BW LPG BWLPG.OL | $3.31B | +7% | -9% | 15% | 4.5× | -7.1% |
| Dorian LPG LPG | $1.99B | +16% | +81% | 52% | 5.4× | -6.7% |
| StealthGas GASS | n/a | -20% | n/a | n/a | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NVGS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -19.0% | -17.4% | 6th lowest of 16 |
| 6-month return | -13.8% | +3.2% | 2nd lowest of 16 |
| Distance from 52-week high | -22.1% | -21.5% | 6th lowest of 16 |
| Revenue growth (TTM) | +6.6% | +23.2% | 5th lowest of 16 |
| Operating margin | 25.2% | 38.8% | 3rd lowest of 16 |
| Forward P/E | 11.0× | 4.9× | 4th most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | -2.2% | -6.9% | 4th most demanding of 11 |
| Growth delivered (Del g) | +12.0% | +9.0% | 5th highest of 11 |
| Hurdle (Req g minus delivered) | -14.2 pp | -18.5 pp | 4th most demanding of 11 |
| ROIC minus cost of capital | -0.2 pp | +6.3 pp | 2nd lowest of 16 |
| EV / EBITDA | 6.2× | 6.5× | 8th cheapest of 15 |
| Net debt / EBITDA | 1.8× | 0.8× | 5th most indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Navigator NVGS | United States | $1.21B | -14% | +7% | 25% | 11.0× | -2.2% | +12.0% |
| Teekay TK | United States | $1.11B | -10% | +16% | 48% | n/a | n/a | n/a |
| Tsakos Energy Navigation TEN | United States | $1.32B | +2% | +23% | 38% | 3.5× | n/a | n/a |
| FLEX LNG FLNG | United States | $1.38B | -20% | +1% | 49% | 11.5× | -0.5% | +16.1% |
| Nordic American Tankers NAT | United States | $1.41B | +13% | +29% | 29% | 7.7× | -3.4% | -3.8% |
| SFL SFL | United States | $1.65B | -9% | -4% | 28% | 11.2× | 5.2% | +9.2% |
| Dorian LPG LPG | United States | $1.99B | +16% | +81% | 52% | 5.4× | -6.7% | +8.8% |
| Ardmore Shipping ASC | United States | $712M | -11% | +21% | 29% | 4.1× | -14.9% | +7.1% |
| Teekay Tankers TNK | United States | $2.97B | +3% | +19% | 39% | 3.5× | n/a | n/a |
| Okeanis Eco Tankers ECO | United States | $3.19B | +48% | +105% | 62% | 3.9× | -13.7% | +6.7% |
| BW LPG BWLPG.OL | Norway | $3.31B | +7% | -9% | 15% | 4.5× | -7.1% | +37.2% |
| DHT DHT | United States | $3.33B | +9% | +39% | 57% | 3.8× | -11.7% | -6.4% |
| Tidewater TDW | United States | $3.49B | -14% | -1% | 18% | 13.3× | 1.2% | +27.8% |
| TORM TRMD-A.CO | Denmark | $3.87B | +8% | +41% | 41% | 3.5× | -17.3% | +12.7% |
| Scorpio Tankers STNG | United States | $4.13B | -4% | +39% | 49% | 5.6× | n/a | n/a |
| Cmb.tech CMBT | United States | $4.83B | +12% | +92% | 30% | 7.2× | n/a | n/a |