Dynagas LNG Partners LP (DLNG) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+891.0%

$31.99

vs $3.23 price

Levered DCF

$24.84

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

0.89

Distress zone

Rating

S-

Overall 5 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	2.23×	5.18×	4.24×	2.28×	2.54×	3.97×	-1.43×	33.7×
P/B	0.29×	0.41×	0.23×	0.23×	0.28×	0.26×	0.24×	0.37×
P/S	0.88×	1.28×	0.64×	0.73×	0.77×	0.65×	0.57×	0.94×
EV / EBITDA	3.28×	3.98×	4.27×	4.89×	5.98×	7.46×	8.8×	8.94×
Gross margin	53.6%	55.1%	45.6%	41.3%	53.5%	53.6%	52.8%	48.4%
Operating margin	48.1%	49.5%	40.3%	34.4%	46.9%	46.9%	45.8%	41.7%
Net margin	39.4%	33.0%	22.4%	41.0%	38.7%	24.8%	2.8%	2.8%
Current ratio	0.52×	0.93×	0.23×	1.06×	0.79×	0.43×	0.28×	0.41×
Debt / equity	0.59×	0.66×	0.94×	1.17×	1.47×	1.81×	2.08×	2.18×
Interest coverage	3.76×	2.58×	1.65×	1.62×	3.02×	2.38×	1.17×	1.05×
Dividend yield	52.2%	7.4%	11.2%	12.0%	11.0%	13.0%	21.9%	40.5%
Payout ratio	116.6%	28.7%	32.2%	21.4%	21.7%	34.0%	453.6%	1340.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	13.0%	10.6%	8.0%	12.7%	14.0%	10.1%	1.2%	1.1%
Return on invested capital	10.0%	9.6%	7.4%	5.1%	7.2%	7.2%	-95.3%	5.1%
Return on assets	7.8%	6.1%	3.9%	5.7%	5.5%	3.5%	0.4%	0.3%
Free cash flow yield	65.5%	46.0%	58.4%	55.7%	75.4%	77.2%	57.7%	35.6%
Earnings yield	44.7%	25.8%	34.8%	56.0%	50.5%	38.3%	4.8%	3.0%
Enterprise value	$373.9M	$452.7M	$448.9M	$544.9M	$620.4M	$671.6M	$711.8M	$722.5M
Net debt / EBITDA	2.07×	2.22×	3.29×	4.02×	4.96×	6.47×	7.87×	7.46×
Cash conversion cycle (days)	-50	-52	-39	-34	-27	-19	-28	-25