(HAFN) Hafnia - Overview
Sector: Industrials | Industry: Marine Shipping | Exchange: NYSE (USA) | Market Cap: 3.638m USD | Total Return: 54.2% in 12m
Avg Turnover: 13.5M
EPS Trend: -89.2%
Qual. Beats: 1
Rev. Trend: -44.6%
Qual. Beats: 0
Warnings
Beneish M-Score -1.50 > -1.5 - likely earnings manipulation
Below Avwap Earnings
Tailwinds
No distinct edge detected
Hafnia Limited is a Singapore-based investment holding company specializing in the ownership and operation of oil product tankers. The company manages a diverse fleet across four primary segments: Long Range II, Long Range I, Medium Range, and Handy Size. Its operations involve the global transport of refined oil products, chemicals, and vegetable oils for a client base that includes national oil companies and international trading firms.
The product tanker market operates on a spot and time-charter basis, where vessel earnings are heavily influenced by global refinery margins and regional supply-demand imbalances. Unlike crude tankers, product tankers transport refined fuels, making them sensitive to changes in downstream consumption and industrial output. Hafnia expanded its market position significantly following its 2019 rebranding from BW Tankers.
Investors can evaluate the company’s fleet age and charter rates further on ValueRay.
- Global refined product demand volatility dictates tanker utilization and spot rates
- Geopolitical disruptions in Red Sea transit increase ton-mile demand and revenue
- High dividend payout policy links stock valuation to quarterly cash flow
- Fluctuating bunker fuel prices directly impact vessel operating margins and profitability
- Fleet age and environmental regulations necessitate significant future capital expenditure requirements
| Net Income: 456.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA -12.24 > 1.0 |
| NWC/Revenue: 17.73% < 20% (prev 6.26%; Δ 11.47% < -1%) |
| CFO/TA 0.14 > 3% & CFO 579.7m > Net Income 456.3m |
| Net Debt (950.7m) to EBITDA (679.6m): 1.40 < 3 |
| Current Ratio: 1.60 > 1.5 & < 3 |
| Outstanding Shares: last quarter (505.3m) vs 12m ago 0.27% < -2% |
| Gross Margin: 20.65% > 18% (prev 28.46%; Δ -7.81% > 0.5%) |
| Asset Turnover: 62.25% > 50% (prev 71.14%; Δ -8.89% > 0%) |
| Interest Coverage Ratio: 9.76 > 6 (EBIT TTM 479.0m / Interest Expense TTM 49.1m) |
| A: 0.11 (Total Current Assets 1.13b - Total Current Liabilities 708.1m) / Total Assets 4.03b |
| B: 0.22 (Retained Earnings 897.8m / Total Assets 4.03b) |
| C: 0.12 (EBIT TTM 479.0m / Avg Total Assets 3.86b) |
| D: 1.71 (Book Value of Equity 2.54b / Total Liabilities 1.49b) |
| Altman-Z'' = 4.05 = AA |
| DSRI: 1.41 (Receivables 677.1m/526.3m, Revenue 2.41b/2.63b) |
| GMI: 1.38 (GM 28.46% / 20.65%) |
| AQI: 2.54 (AQ_t 0.15 / AQ_t-1 0.06) |
| SGI: 0.91 (Revenue 2.41b / 2.63b) |
| TATA: -0.03 (NI 456.3m - CFO 579.7m) / TA 4.03b) |
| Beneish M = -1.50 (Cap -4..+1) = D |
As of June 09, 2026, the stock is trading at USD 7.28 with a total of 1,437,809 shares traded.
Over the past week, the price has changed by -2.81%,
over one month by -15.61%,
over three months by +1.50% and
over the past year by +54.22%.
Hafnia has received a consensus analysts rating of 5.00. Therefore, it is recommended to buy HAFN.
- StrongBuy: 2
- Buy: 0
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 10 | 37.4% |
P/E Trailing = 8.0889
P/E Forward = 4.9579
P/S = 1.5127
P/B = 1.4277
Revenue TTM = 2.41b USD
EBIT TTM = 479.0m USD
EBITDA TTM = 679.6m USD
Long Term Debt = 734.4m USD (from longTermDebt, last quarter)
Short Term Debt = 246.0m USD (from shortTermDebt, last quarter)
Debt = 1.10b USD (from shortLongTermDebtTotal, last quarter) + Leases 71.6m
Net Debt = 950.7m USD (calculated: Debt 1.10b - CCE 146.5m)
Enterprise Value = 4.59b USD (3.64b + Debt 1.10b - CCE 146.5m)
Interest Coverage Ratio = 9.76 (Ebit TTM 479.0m / Interest Expense TTM 49.1m)
EV/FCF = 10.41x (Enterprise Value 4.59b / FCF TTM 440.8m)
FCF Yield = 9.61% (FCF TTM 440.8m / Enterprise Value 4.59b)
FCF Margin = 18.32% (FCF TTM 440.8m / Revenue TTM 2.41b)
Net Margin = 18.97% (Net Income TTM 456.3m / Revenue TTM 2.41b)
Gross Margin = 20.65% ((Revenue TTM 2.41b - Cost of Revenue TTM 1.91b) / Revenue TTM)
Gross Margin QoQ = 23.73% (prev 20.31%)
Tobins Q-Ratio = 1.14 (Enterprise Value 4.59b / Total Assets 4.03b)
Interest Expense / Debt = 4.47% (Interest Expense 49.1m / Debt 1.10b)
Taxrate = 0.41% (1.86m / 458.1m)
NOPAT = 477.1m (EBIT 479.0m * (1 - 0.41%))
Current Ratio = 1.60 (Total Current Assets 1.13b / Total Current Liabilities 708.1m)
Debt / Equity = 0.43 (Debt 1.10b / totalStockholderEquity, last quarter 2.54b)
Debt / EBITDA = 1.40 (Net Debt 950.7m / EBITDA 679.6m)
Debt / FCF = 2.16 (Net Debt 950.7m / FCF TTM 440.8m)
Total Stockholder Equity = 2.38b (last 4 quarters mean from totalStockholderEquity)
RoA = 11.81% (Net Income 456.3m / Total Assets 4.03b)
RoE = 19.20% (Net Income TTM 456.3m / Total Stockholder Equity 2.38b)
RoCE = 15.40% (EBIT 479.0m / Capital Employed (Equity 2.38b + L.T.Debt 734.4m))
RoIC = 13.84% (NOPAT 477.1m / Invested Capital 3.45b)
WACC = 6.62% (E(3.64b)/V(4.74b) * Re(7.27%) + D(1.10b)/V(4.74b) * Rd(4.47%) * (1-Tc(0.00)))
Discount Rate = 7.27% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -15.56 | Cagr: -0.29%
[DCF] Terminal Value 73.10% ; FCFF base≈607.5m ; Y1≈532.7m ; Y5≈430.4m
[DCF] Fair Price = 11.92 (EV 6.91b - Net Debt 950.7m = Equity 5.96b / Shares 499.8m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -89.22 | EPS CAGR: -33.74% | SUE: 1.74 | # QB: 1
Revenue Correlation: -44.60 | Revenue CAGR: -7.93% | SUE: 0.64 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.18 | Chg30d=+5.88% | Revisions=+20% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.14 | Chg30d=+0.00% | Revisions=+20% | Analysts=1
EPS current Year (2026-12-31): EPS=0.78 | Chg30d=+4.00% | Revisions=+20% | GrowthEPS=+0.0% | GrowthRev=+28.1%
EPS next Year (2027-12-31): EPS=0.64 | Chg30d=+12.28% | Revisions=+20% | GrowthEPS=-17.9% | GrowthRev=-30.6%