Navigator Holdings Ltd. (NVGS) - Dilution Analysis

Visualizing historical and potential share dilution over time

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Dilution Analysis

Medium Risk

Moderate dilution risk

Last updated: March 12, 2026

Risk Assessment Details

Potential Dilution: 82.93% of current shares

Recent Dilution: 0% (2 years)

Historical Dilution Factor: minimal recent dilution

Outstanding Shares

65M

Potential Supply

54M

Additional shares possible

Splits

None

Past 2 years

Summary

NVGS currently has 65.3M outstanding shares. with significant dilution risk as 54.1M authorized shares could dilute existing holders by 82.9%. The company has not diluted shareholders through share issuances in the past 2 years, which is positive for existing holders.

Share Structure Timeline

Outstanding Shares

Total Supply

Historical Data Points

Date	Event	Outstanding	Supply
Mar 12, 2026	20-F filing \| 65.3M shares outstanding	65M	54M
Mar 25, 2025	20-F filing \| 69.4M shares outstanding	69M	50M
Mar 27, 2024	20-F filing \| 73.2M shares outstanding	73M	46M
Jun 28, 2023	F-3 filing: This F-3 filing describes a shelf offering for up to 42,558,858 shares of common stock by selling shareholders of Navigator Holdings Ltd.	77M	43M
Apr 04, 2023	20-F filing \| 76.8M shares outstanding	77M	0
Apr 28, 2022	20-F filing \| 77.2M shares outstanding	77M	0
May 17, 2021	20-F filing \| 55.6M shares outstanding	56M	0
May 11, 2020	20-F filing \| 55.9M shares outstanding	56M	0

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