HAFNIA LTD (HAFNI.OL) Fundamental Analysis & Valuation
OSL:HAFNI • SGXZ53070850
68.8 NOK
-1.46 (-2.08%)
Last: Mar 9, 2026, 01:08 PM
This HAFNI.OL fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
We assign a fundamental rating of 6 out of 10 to HAFNI. HAFNI was compared to 83 industry peers in the Oil, Gas & Consumable Fuels industry. While HAFNI has a great health rating, its profitability is only average at the moment. HAFNI has a bad growth rate and is valued cheaply. With these ratings, HAFNI could be worth investigating further for value investing!.
1. HAFNI.OL Profitability Analysis
1.1 Basic Checks
- HAFNI had positive earnings in the past year.
- In the past year HAFNI had a positive cash flow from operations.
- In multiple years HAFNI reported negative net income over the last 5 years.
- HAFNI had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
- With an excellent Return On Assets value of 8.68%, HAFNI belongs to the best of the industry, outperforming 89.16% of the companies in the same industry.
- The Return On Equity of HAFNI (13.30%) is better than 69.88% of its industry peers.
- Looking at the Return On Invested Capital, with a value of 8.62%, HAFNI is in the better half of the industry, outperforming 77.11% of the companies in the same industry.
- HAFNI had an Average Return On Invested Capital over the past 3 years of 18.77%. This is significantly above the industry average of 8.83%.
- 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 Rank | Sector 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%
1.3 Margins
- HAFNI has a better Profit Margin (13.95%) than 71.08% of its industry peers.
- HAFNI's Profit Margin has improved in the last couple of years.
- HAFNI's Operating Margin of 15.12% is in line compared to the rest of the industry. HAFNI outperforms 45.78% of its industry peers.
- HAFNI's Operating Margin has improved in the last couple of years.
| Industry Rank | Sector 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
2. HAFNI.OL Health Analysis
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 no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
2.2 Solvency
- An Altman-Z score of 3.34 indicates that HAFNI is not in any danger for bankruptcy at the moment.
- HAFNI's Altman-Z score of 3.34 is fine compared to the rest of the industry. HAFNI outperforms 77.11% 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 89.16% of its industry peers.
- A Debt/Equity ratio of 0.29 indicates that HAFNI is not too dependend on debt financing.
- HAFNI has a better Debt to Equity ratio (0.29) than 71.08% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.29 | ||
| Debt/FCF | 1.74 | ||
| Altman-Z | 3.34 |
ROIC/WACC1
WACC8.59%
2.3 Liquidity
- A Current Ratio of 1.52 indicates that HAFNI should not have too much problems paying its short term obligations.
- Looking at the Current ratio, with a value of 1.52, HAFNI is in the better half of the industry, outperforming 65.06% of the companies in the same industry.
- 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.
- The Quick ratio of HAFNI (1.38) is better than 75.90% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.52 | ||
| Quick Ratio | 1.38 |
3. HAFNI.OL Growth Analysis
3.1 Past
- HAFNI shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -54.97%.
- HAFNI shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 10.65% yearly.
EPS 1Y (TTM)-54.97%
EPS 3Y-24.34%
EPS 5Y10.65%
EPS Q2Q%46.67%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%10.88%
3.2 Future
- The Earnings Per Share is expected to grow by 6.17% on average over the next years.
- The Revenue is expected to decrease by -2.10% on average over the next years.
EPS Next Y11.84%
EPS Next 2Y-2.96%
EPS Next 3Y6.17%
EPS Next 5YN/A
Revenue Next Year-1.78%
Revenue Next 2Y-4.37%
Revenue Next 3Y-2.1%
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.
4. HAFNI.OL Valuation Analysis
4.1 Price/Earnings Ratio
- With a Price/Earnings ratio of 10.47, the valuation of HAFNI can be described as very reasonable.
- Compared to the rest of the industry, the Price/Earnings ratio of HAFNI indicates a rather cheap valuation: HAFNI is cheaper than 83.13% of the companies listed in the same industry.
- The average S&P500 Price/Earnings ratio is at 26.29. HAFNI is valued rather cheaply when compared to this.
- The Price/Forward Earnings ratio is 9.36, which indicates a very decent valuation of HAFNI.
- 87.95% of the companies in the same industry are more expensive than HAFNI, based on the Price/Forward Earnings ratio.
- HAFNI's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 24.60.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.47 | ||
| Fwd PE | 9.36 |
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.
- HAFNI's Price/Free Cash Flow ratio is rather cheap when compared to the industry. HAFNI is cheaper than 89.16% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 7.1 | ||
| EV/EBITDA | 8.3 |
4.3 Compensation for Growth
- HAFNI's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
- The decent profitability rating of HAFNI may justify a higher PE ratio.
PEG (NY)0.88
PEG (5Y)0.98
EPS Next 2Y-2.96%
EPS Next 3Y6.17%
5. HAFNI.OL Dividend Analysis
5.1 Amount
- HAFNI has a Yearly Dividend Yield of 7.41%, which is a nice return.
- HAFNI's Dividend Yield is rather good when compared to the industry average which is at 4.82. HAFNI pays more dividend than 87.95% of the companies in the same industry.
- HAFNI's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.41% |
5.2 History
- On average, the dividend of HAFNI grows each year by 141.09%, which is quite nice.
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.
- HAFNI's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP102.71%
EPS Next 2Y-2.96%
EPS Next 3Y6.17%
HAFNI.OL Fundamentals: All Metrics, Ratios and Statistics
OSL:HAFNI (3/9/2026, 1:08:41 PM)
68.8
-1.46 (-2.08%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)02-26 2026-02-26/bmo
Earnings (Next)05-27 2026-05-27/bmo
Inst Owners29.37%
Inst Owner ChangeN/A
Ins Owners0.4%
Ins Owner ChangeN/A
Market Cap35.26B
Revenue(TTM)N/A
Net Income(TTM)310.03M
Analysts85.71
Price Target78.84 (14.59%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.41% |
Yearly Dividend13.44
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)1.05%
PT rev (3m)3.24%
EPS NQ rev (1m)-9.72%
EPS NQ rev (3m)-1.51%
EPS NY rev (1m)0.34%
EPS NY rev (3m)0.17%
Revenue NQ rev (1m)-4.07%
Revenue NQ rev (3m)-4.12%
Revenue NY rev (1m)-0.69%
Revenue NY rev (3m)0%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.47 | ||
| Fwd PE | 9.36 | ||
| P/S | 1.64 | ||
| P/FCF | 7.1 | ||
| P/OCF | 5.7 | ||
| P/B | 1.57 | ||
| P/tB | 1.57 | ||
| EV/EBITDA | 8.3 |
EPS(TTM)6.57
EY9.55%
EPS(NY)7.35
Fwd EY10.68%
FCF(TTM)9.69
FCFY14.08%
OCF(TTM)12.07
OCFY17.54%
SpS41.89
BVpS43.94
TBVpS43.94
PEG (NY)0.88
PEG (5Y)0.98
Graham Number80.6
Profitability
| Industry Rank | Sector 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 Rank | Sector 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 | 3.34 |
F-Score5
WACC8.59%
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)-54.97%
EPS 3Y-24.34%
EPS 5Y10.65%
EPS Q2Q%46.67%
EPS Next Y11.84%
EPS Next 2Y-2.96%
EPS Next 3Y6.17%
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%10.88%
Revenue Next Year-1.78%
Revenue Next 2Y-4.37%
Revenue Next 3Y-2.1%
Revenue Next 5YN/A
EBIT growth 1Y-61.78%
EBIT growth 3Y2051.86%
EBIT growth 5Y39.65%
EBIT Next Year-28.08%
EBIT Next 3Y-13.6%
EBIT Next 5Y-6.94%
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 8 / 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 6 / 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 10.47 and the Price/Book (PB) ratio is 1.57.
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%.