HAFNIA LTD (HAFNI.OL) Stock Fundamental Analysis

Europe • Euronext Oslo • OSL:HAFNI • SGXZ53070850

59.74 NOK
+1.26 (+2.15%)
Last: Feb 5, 2026, 04:19 PM
Fundamental Rating

6

Overall HAFNI gets a fundamental rating of 6 out of 10. We evaluated HAFNI against 73 industry peers in the Oil, Gas & Consumable Fuels industry. Both the health and profitability get an excellent rating, making HAFNI a very profitable company, without any liquidiy or solvency issues. HAFNI is cheap, but on the other hand it scores bad on growth. This makes HAFNI very considerable 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.
  • HAFNI had positive earnings in 4 of the past 5 years.
  • HAFNI had a positive operating cash flow in each of the past 5 years.
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

  • HAFNI has a better Return On Assets (8.68%) 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.
  • The Return On Invested Capital of HAFNI (8.62%) is better 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

  • With a decent Profit Margin value of 13.95%, HAFNI is doing good in the industry, outperforming 72.60% of the companies in the same industry.
  • In the last couple of years the Profit Margin of HAFNI has grown nicely.
  • HAFNI has a Operating Margin (15.12%) which is in line with its industry peers.
  • 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

  • HAFNI has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
  • Compared to 1 year ago, HAFNI has about the same amount of shares outstanding.
  • Compared to 5 years ago, HAFNI has more shares outstanding
  • The debt/assets ratio for HAFNI has been reduced compared to a year ago.
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 3.04. This indicates that HAFNI is financially healthy and has little risk of bankruptcy at the moment.
  • With a decent Altman-Z score value of 3.04, HAFNI is doing good in the industry, outperforming 71.23% of the companies in the same industry.
  • 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.
  • Looking at the Debt to FCF ratio, with a value of 1.74, HAFNI belongs to the top of the industry, outperforming 89.04% of the companies in the same industry.
  • HAFNI has a Debt/Equity ratio of 0.29. This is a healthy value indicating a solid balance between debt and equity.
  • 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 3.04
ROIC/WACC0.99
WACC8.69%
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

  • HAFNI has a Current Ratio of 1.52. This is a normal value and indicates that HAFNI is financially healthy and should not expect problems in meeting its short term obligations.
  • HAFNI has a better Current ratio (1.52) than 63.01% of its industry peers.
  • HAFNI has a Quick Ratio of 1.38. This is a normal value and indicates that HAFNI is financially healthy and should not expect problems in meeting 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.
  • The Earnings Per Share has been growing by 49.51% on average over the past years. This is a very strong growth
  • Looking at the last year, HAFNI shows a very negative growth in Revenue. The Revenue has decreased by -36.53% in the last year.
  • Measured over the past years, HAFNI shows a very strong growth in Revenue. The Revenue has been growing by 28.22% on average per year.
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

  • HAFNI is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -23.67% yearly.
  • The Revenue is expected to decrease by -13.08% on average over the next years. This is quite bad
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

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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

  • With a Price/Earnings ratio of 10.16, the valuation of HAFNI can be described as very reasonable.
  • Based on the Price/Earnings ratio, HAFNI is valued cheaply inside the industry as 83.56% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Earnings ratio of 27.67, HAFNI is valued rather cheaply.
  • HAFNI is valuated reasonably with a Price/Forward Earnings ratio of 8.42.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of HAFNI indicates a rather cheap valuation: HAFNI is cheaper than 89.04% of the companies listed in the same industry.
  • When comparing the Price/Forward Earnings ratio of HAFNI to the average of the S&P500 Index (27.20), we can say HAFNI is valued rather cheaply.
Industry RankSector Rank
PE 10.16
Fwd PE 8.42
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

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of HAFNI is on the same level as its industry peers.
  • 89.04% of the companies in the same industry are more expensive than HAFNI, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 6.18
EV/EBITDA 7.16
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

  • HAFNI has a very decent profitability rating, which may justify a higher PE ratio.
  • A cheap valuation may be justified as HAFNI's earnings are expected to decrease with -23.67% in the coming years.
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

  • HAFNI has a Yearly Dividend Yield of 6.59%, which is a nice return.
  • 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.
  • Compared to an average S&P500 Dividend Yield of 1.82, HAFNI pays a better dividend.
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

  • HAFNI pays out 102.71% of its income as dividend. 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

Find the best dividend stocksShow peers with best dividend

HAFNIA LTD

OSL:HAFNI (2/5/2026, 4:19:49 PM)

59.74

+1.26 (+2.15%)

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 Cap30.62B
Revenue(TTM)2.22B
Net Income(TTM)310.03M
Analysts84.62
Price Target76.59 (28.21%)
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 10.16
Fwd PE 8.42
P/S 1.43
P/FCF 6.18
P/OCF 4.96
P/B 1.36
P/tB 1.36
EV/EBITDA 7.16
EPS(TTM)5.88
EY9.84%
EPS(NY)7.09
Fwd EY11.87%
FCF(TTM)9.67
FCFY16.18%
OCF(TTM)12.05
OCFY20.16%
SpS41.81
BVpS43.85
TBVpS43.85
PEG (NY)N/A
PEG (5Y)0.21
Graham Number76.17
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 3.04
F-Score5
WACC8.69%
ROIC/WACC0.99
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 10.16 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%.