Navigator Holdings
NVGS on NYSE. Deep sea foreign transportation of freight. Market value $1.5bn.
This company reports once a year (it is based outside the US), so every figure comes from its annual report for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
What to watch out for
See Industrials stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $7.54 of spare cash last year. A savings account pays about $4.
The filings do not give us enough to work this out.
Each dollar kept in the business earns 4 cents a year. Above 10 is good.
Quality score: 69 of 100. Price score: 83 of 100. Our list needs 70 on quality and 60 on price.
$23.72 a share, 68% above its 1-year low
Over the past year the price has ranged from $14.08 to $25.48.
Dividend: 1.0% a year
Paid every year for 3 years
Payouts have jumped around in recent years, so this may not repeat.
Prices from Monday’s close (5 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $406m | $474m | $551m | $567m | $587m |
| Operating margin | |||||
| Operating margin | -0.7% | 12.8% | 24.9% | 25.3% | 28.2% |
| Debt to equity | |||||
| Debt to equity | 0.73 | 0.66 | 0.68 | 0.63 | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.08bn | 0.08bn | 0.07bn | 0.07bn | 0.07bn |
Health checks
- Free cash flow positive2 of 3 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)6 of 7 checks we could run
- Profit backed by cash (accruals)Yes
- DebtUnknown
- Revenue growth, five yearsStrong, 12.0% a year
- Buying back its own sharesYes, 15% fewer since 2021
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 12 March 2026
- Next quarterly (estimated, 10-Q)
- n/a
Who owns it
5 long-term investors we follow own it, unchanged from 5 last quarter. 174 funds in all.
- GAMCO InvestorsMario Gabelli
- Value
- $8m
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| First Eagle Investment ManagementMatthew McLennan | $38m | <0.1% | Added |
| First Manhattan Co.First Manhattan partners | $22m | <0.1% | Cut |
| Royce & AssociatesChuck Royce | $19m | 0.2% | Added |
| LSV Asset ManagementJosef Lakonishok | $13m | <0.1% | Added |
| GAMCO InvestorsMario Gabelli | $8m | <0.1% |
Largest holders overall
- BlackRock$40mAdded
- First Eagle Investment Management$38mAdded
- Acadian Asset Management$36mAdded
- First Manhattan Co.$22mCut
- Royce & Associates$19mAdded
- TWO Sigma Investments, LP$18mAdded
- Qube Research & Technologies$16mAdded
- LSV Asset Management$13mAdded
- Jane Street Group$13mAdded
- FMR$13m
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
1 investor owns more than 5%.
- BW Group Ltd6.6%−1.1 ptsSince 1 October 2026
| Holder | Stake | Since | |
|---|---|---|---|
BW Group Ltd | 6.6%−1.1 pts | 1 October 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 3 sold $990,565.
- Lindeman OeyvindChief Commercial OfficerSold
- Date
- 20 August 2026
- Shares
- 7,500
- Price
- $21.68
- Value
- $162,600
- Stokes Peter George Charles AndrewDirectorSold
- Date
- 12 August 2026
- Shares
- 5,000
- Price
- $20.28
- Value
- $101,395
- Lindeman OeyvindChief Commercial OfficerSold
- Date
- 29 May 2026
- Shares
- 6,259
- Price
- $21.70
- Value
- $135,820
- Schroder MichaelChief Operating OfficerSold
- Date
- 20 May 2026
- Shares
- 25,000
- Price
- $23.63
- Value
- $590,750
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 20 August 2026 | Lindeman Oeyvind Chief Commercial Officer | Sold | 7,500 | $21.68 | $162,600 |
| 12 August 2026 | Stokes Peter George Charles Andrew Director | Sold | 5,000 | $20.28 | $101,395 |
| 29 May 2026 | Lindeman Oeyvind Chief Commercial Officer | Sold | 6,259 | $21.70 | $135,820 |
| 20 May 2026 | Schroder Michael Chief Operating Officer | Sold | 25,000 | $23.63 | $590,750 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
Navigator Holdings doesn’t file a US annual report (10-K), so we haven’t checked it.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
A big holder just moved. The deep dive shows what the business is worth.
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.