HAFNIA LTD (HAFNI.OL) Stock Fundamental Analysis

Europe • Euronext Oslo • OSL:HAFNI • SGXZ53070850

60.28 NOK
+0.54 (+0.9%)
Last: Feb 6, 2026, 07:00 PM
Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to HAFNI. HAFNI was compared to 73 industry peers in the Oil, Gas & Consumable Fuels industry. HAFNI gets an excellent profitability rating and is at the same time showing great financial health properties. HAFNI has a bad growth rate and is valued cheaply. These ratings would make HAFNI suitable for value investing!


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • HAFNI had positive earnings in the past year.
  • HAFNI had a positive operating cash flow in the past year.
  • Of the past 5 years HAFNI 4 years were profitable.
  • Each year in the past 5 years HAFNI had a positive operating cash flow.
HAFNI.OL Yearly Net Income VS EBIT VS OCF VS FCFHAFNI.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M 800M 1B

1.2 Ratios

  • The Return On Assets of HAFNI (8.68%) is better than 90.41% of its industry peers.
  • HAFNI's Return On Equity of 13.30% is fine compared to the rest of the industry. HAFNI outperforms 76.71% of its industry peers.
  • HAFNI has a better Return On Invested Capital (8.62%) than 80.82% of its industry peers.
  • HAFNI had an Average Return On Invested Capital over the past 3 years of 18.77%. This is significantly above the industry average of 8.73%.
  • The 3 year average ROIC (18.77%) for HAFNI is well above the current ROIC(8.62%). The reason for the recent decline needs to be investigated.
Industry RankSector Rank
ROA 8.68%
ROE 13.3%
ROIC 8.62%
ROA(3y)20.08%
ROA(5y)12.77%
ROE(3y)35.74%
ROE(5y)23.04%
ROIC(3y)18.77%
ROIC(5y)12.65%
HAFNI.OL Yearly ROA, ROE, ROICHAFNI.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20 30

1.3 Margins

  • Looking at the Profit Margin, with a value of 13.95%, HAFNI is in the better half of the industry, outperforming 72.60% of the companies in the same industry.
  • HAFNI's Profit Margin has improved in the last couple of years.
  • Looking at the Operating Margin, with a value of 15.12%, HAFNI is in line with its industry, outperforming 49.32% of the companies in the same industry.
  • HAFNI's Operating Margin has improved in the last couple of years.
Industry RankSector Rank
OM 15.12%
PM (TTM) 13.95%
GM N/A
OM growth 3Y1312.43%
OM growth 5Y8.92%
PM growth 3YN/A
PM growth 5Y25.51%
GM growth 3YN/A
GM growth 5YN/A
HAFNI.OL Yearly Profit, Operating, Gross MarginsHAFNI.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20 30 40

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ROAROEROICOperating and Profit MarginShow most profitable peers

7

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so HAFNI is creating value.
  • HAFNI has about the same amout of shares outstanding than it did 1 year ago.
  • The number of shares outstanding for HAFNI has been increased compared to 5 years ago.
  • HAFNI has a better debt/assets ratio than last year.
HAFNI.OL Yearly Shares OutstandingHAFNI.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M 500M
HAFNI.OL Yearly Total Debt VS Total AssetsHAFNI.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

2.2 Solvency

  • HAFNI has an Altman-Z score of 3.06. This indicates that HAFNI is financially healthy and has little risk of bankruptcy at the moment.
  • HAFNI has a better Altman-Z score (3.06) than 71.23% of its industry peers.
  • HAFNI has a debt to FCF ratio of 1.74. This is a very positive value and a sign of high solvency as it would only need 1.74 years to pay back of all of its debts.
  • The Debt to FCF ratio of HAFNI (1.74) is better than 89.04% of its industry peers.
  • A Debt/Equity ratio of 0.29 indicates that HAFNI is not too dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.29, HAFNI is in the better half of the industry, outperforming 69.86% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.29
Debt/FCF 1.74
Altman-Z 3.06
ROIC/WACC1
WACC8.62%
HAFNI.OL Yearly LT Debt VS Equity VS FCFHAFNI.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B 2B

2.3 Liquidity

  • A Current Ratio of 1.52 indicates that HAFNI should not have too much problems paying its short term obligations.
  • HAFNI's Current ratio of 1.52 is fine compared to the rest of the industry. HAFNI outperforms 63.01% of its industry peers.
  • A Quick Ratio of 1.38 indicates that HAFNI should not have too much problems paying its short term obligations.
  • With a decent Quick ratio value of 1.38, HAFNI is doing good in the industry, outperforming 73.97% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.52
Quick Ratio 1.38
HAFNI.OL Yearly Current Assets VS Current LiabilitesHAFNI.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. Growth

3.1 Past

  • The earnings per share for HAFNI have decreased strongly by -64.12% in the last year.
  • Measured over the past years, HAFNI shows a very strong growth in Earnings Per Share. The EPS has been growing by 49.51% on average per year.
  • Looking at the last year, HAFNI shows a very negative growth in Revenue. The Revenue has decreased by -36.53% in the last year.
  • The Revenue has been growing by 28.22% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)-64.12%
EPS 3YN/A
EPS 5Y49.51%
EPS Q2Q%-57.14%
Revenue 1Y (TTM)-36.53%
Revenue growth 3Y52.35%
Revenue growth 5Y28.22%
Sales Q2Q%-31.68%

3.2 Future

  • The Earnings Per Share is expected to decrease by -23.67% on average over the next years. This is quite bad
  • HAFNI is expected to show a very negative growth in Revenue. In the coming years, the Revenue will decrease by -13.08% yearly.
EPS Next Y-53.21%
EPS Next 2Y-30.21%
EPS Next 3Y-23.67%
EPS Next 5YN/A
Revenue Next Year-31.22%
Revenue Next 2Y-16.95%
Revenue Next 3Y-13.08%
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
HAFNI.OL Yearly Revenue VS EstimatesHAFNI.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B 2B 2.5B
HAFNI.OL Yearly EPS VS EstimatesHAFNI.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 0.5 -0.5 1 1.5

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Find the best growth stocksShow best growing peers

7

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 10.17, which indicates a very decent valuation of HAFNI.
  • Based on the Price/Earnings ratio, HAFNI is valued cheaply inside the industry as 82.19% of the companies are valued more expensively.
  • The average S&P500 Price/Earnings ratio is at 27.92. HAFNI is valued rather cheaply when compared to this.
  • The Price/Forward Earnings ratio is 8.43, which indicates a very decent valuation of HAFNI.
  • 89.04% of the companies in the same industry are more expensive than HAFNI, based on the Price/Forward Earnings ratio.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 27.78, HAFNI is valued rather cheaply.
Industry RankSector Rank
PE 10.17
Fwd PE 8.43
HAFNI.OL Price Earnings VS Forward Price EarningsHAFNI.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • HAFNI's Enterprise Value to EBITDA is on the same level as the industry average.
  • HAFNI's Price/Free Cash Flow ratio is rather cheap when compared to the industry. HAFNI is cheaper than 89.04% of the companies in the same industry.
Industry RankSector Rank
P/FCF 6.18
EV/EBITDA 7.23
HAFNI.OL Per share dataHAFNI.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

  • The decent profitability rating of HAFNI may justify a higher PE ratio.
  • HAFNI's earnings are expected to decrease with -23.67% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)0.21
EPS Next 2Y-30.21%
EPS Next 3Y-23.67%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 6.59%, HAFNI is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 5.10, HAFNI pays a better dividend. On top of this HAFNI pays more dividend than 86.30% of the companies listed in the same industry.
  • HAFNI's Dividend Yield is rather good when compared to the S&P500 average which is at 1.83.
Industry RankSector Rank
Dividend Yield 6.59%

5.2 History

  • The dividend of HAFNI is nicely growing with an annual growth rate of 141.09%!
Dividend Growth(5Y)141.09%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • 102.71% of the earnings are spent on dividend by HAFNI. This is not a sustainable payout ratio.
  • The Dividend Rate of HAFNI has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP102.71%
EPS Next 2Y-30.21%
EPS Next 3Y-23.67%
HAFNI.OL Yearly Income VS Free CF VS DividendHAFNI.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M 800M
HAFNI.OL Dividend Payout.HAFNI.OL Dividend Payout, showing the Payout Ratio.HAFNI.OL Dividend Payout.PayoutRetained Earnings

More info and screens

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HAFNIA LTD

OSL:HAFNI (2/6/2026, 7:00:00 PM)

60.28

+0.54 (+0.9%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)12-01
Earnings (Next)02-26
Inst Owners28.7%
Inst Owner ChangeN/A
Ins Owners0.48%
Ins Owner ChangeN/A
Market Cap30.90B
Revenue(TTM)2.22B
Net Income(TTM)310.03M
Analysts84.62
Price Target76.59 (27.06%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.59%
Yearly Dividend13.29
Dividend Growth(5Y)141.09%
DP102.71%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-1.93%
Min EPS beat(2)-3.81%
Max EPS beat(2)-0.05%
EPS beat(4)0
Avg EPS beat(4)-6.17%
Min EPS beat(4)-12.27%
Max EPS beat(4)-0.05%
EPS beat(8)2
Avg EPS beat(8)-1.74%
EPS beat(12)5
Avg EPS beat(12)1.02%
EPS beat(16)8
Avg EPS beat(16)18.32%
Revenue beat(2)0
Avg Revenue beat(2)-5.9%
Min Revenue beat(2)-6.73%
Max Revenue beat(2)-5.07%
Revenue beat(4)0
Avg Revenue beat(4)-8.28%
Min Revenue beat(4)-11.32%
Max Revenue beat(4)-5.07%
Revenue beat(8)1
Avg Revenue beat(8)-5.77%
Revenue beat(12)3
Avg Revenue beat(12)-2.22%
Revenue beat(16)7
Avg Revenue beat(16)11.77%
PT rev (1m)0.3%
PT rev (3m)1.2%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-11.29%
EPS NY rev (1m)-0.79%
EPS NY rev (3m)-2.17%
Revenue NQ rev (1m)0.28%
Revenue NQ rev (3m)-4.51%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-4.62%
Valuation
Industry RankSector Rank
PE 10.17
Fwd PE 8.43
P/S 1.43
P/FCF 6.18
P/OCF 4.96
P/B 1.36
P/tB 1.36
EV/EBITDA 7.23
EPS(TTM)5.93
EY9.84%
EPS(NY)7.15
Fwd EY11.87%
FCF(TTM)9.75
FCFY16.17%
OCF(TTM)12.15
OCFY20.15%
SpS42.16
BVpS44.22
TBVpS44.22
PEG (NY)N/A
PEG (5Y)0.21
Graham Number76.81
Profitability
Industry RankSector Rank
ROA 8.68%
ROE 13.3%
ROCE 11.2%
ROIC 8.62%
ROICexc 9.02%
ROICexgc 9.02%
OM 15.12%
PM (TTM) 13.95%
GM N/A
FCFM 23.13%
ROA(3y)20.08%
ROA(5y)12.77%
ROE(3y)35.74%
ROE(5y)23.04%
ROIC(3y)18.77%
ROIC(5y)12.65%
ROICexc(3y)20.21%
ROICexc(5y)13.58%
ROICexgc(3y)20.22%
ROICexgc(5y)13.59%
ROCE(3y)24.37%
ROCE(5y)16.42%
ROICexgc growth 3Y1860.8%
ROICexgc growth 5Y34.21%
ROICexc growth 3Y1861.8%
ROICexc growth 5Y34.24%
OM growth 3Y1312.43%
OM growth 5Y8.92%
PM growth 3YN/A
PM growth 5Y25.51%
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.62
Health
Industry RankSector Rank
Debt/Equity 0.29
Debt/FCF 1.74
Debt/EBITDA 1.24
Cap/Depr 61.69%
Cap/Sales 5.69%
Interest Coverage 7.02
Cash Conversion 118.39%
Profit Quality 165.74%
Current Ratio 1.52
Quick Ratio 1.38
Altman-Z 3.06
F-Score5
WACC8.62%
ROIC/WACC1
Cap/Depr(3y)108.09%
Cap/Depr(5y)74.63%
Cap/Sales(3y)10.62%
Cap/Sales(5y)8.15%
Profit Quality(3y)93.41%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-64.12%
EPS 3YN/A
EPS 5Y49.51%
EPS Q2Q%-57.14%
EPS Next Y-53.21%
EPS Next 2Y-30.21%
EPS Next 3Y-23.67%
EPS Next 5YN/A
Revenue 1Y (TTM)-36.53%
Revenue growth 3Y52.35%
Revenue growth 5Y28.22%
Sales Q2Q%-31.68%
Revenue Next Year-31.22%
Revenue Next 2Y-16.95%
Revenue Next 3Y-13.08%
Revenue Next 5YN/A
EBIT growth 1Y-61.78%
EBIT growth 3Y2051.86%
EBIT growth 5Y39.65%
EBIT Next Year-27.79%
EBIT Next 3Y-11.13%
EBIT Next 5YN/A
FCF growth 1Y-50.9%
FCF growth 3Y131.15%
FCF growth 5YN/A
OCF growth 1Y-46.12%
OCF growth 3Y113.12%
OCF growth 5Y30.15%

HAFNIA LTD / HAFNI.OL FAQ

What is the fundamental rating for HAFNI stock?

ChartMill assigns a fundamental rating of 6 / 10 to HAFNI.OL.


What is the valuation status of HAFNIA LTD (HAFNI.OL) stock?

ChartMill assigns a valuation rating of 7 / 10 to HAFNIA LTD (HAFNI.OL). This can be considered as Undervalued.


What is the profitability of HAFNI stock?

HAFNIA LTD (HAFNI.OL) has a profitability rating of 7 / 10.


What are the PE and PB ratios of HAFNIA LTD (HAFNI.OL) stock?

The Price/Earnings (PE) ratio for HAFNIA LTD (HAFNI.OL) is 10.17 and the Price/Book (PB) ratio is 1.36.


Is the dividend of HAFNIA LTD sustainable?

The dividend rating of HAFNIA LTD (HAFNI.OL) is 6 / 10 and the dividend payout ratio is 102.71%.