HAVILA SHIPPING ASA (HAVI.OL) Fundamental Analysis & Valuation

OSL:HAVI • NO0010257728

1.07 NOK
-0.03 (-2.73%)
Last: Mar 6, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This HAVI.OL fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

HAVI gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 36 industry peers in the Energy Equipment & Services industry. While HAVI is still in line with the averages on profitability rating, there are concerns on its financial health. HAVI has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

6

1. HAVI.OL Profitability Analysis

1.1 Basic Checks

  • In the past year HAVI was profitable.
  • HAVI had a positive operating cash flow in the past year.
  • HAVI had positive earnings in 4 of the past 5 years.
  • Each year in the past 5 years HAVI had a positive operating cash flow.
HAVI.OL Yearly Net Income VS EBIT VS OCF VS FCFHAVI.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 2025 0 500M -500M 1B -1B

1.2 Ratios

  • HAVI has a worse Return On Assets (2.54%) than 61.11% of its industry peers.
  • HAVI has a Return On Equity (10.74%) which is comparable to the rest of the industry.
  • With a decent Return On Invested Capital value of 10.95%, HAVI is doing good in the industry, outperforming 75.00% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for HAVI is significantly above the industry average of 10.29%.
  • The 3 year average ROIC (42.74%) for HAVI is well above the current ROIC(10.95%). The reason for the recent decline needs to be investigated.
Industry RankSector Rank
ROA 2.54%
ROE 10.74%
ROIC 10.95%
ROA(3y)0.97%
ROA(5y)13.65%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)42.74%
ROIC(5y)N/A
HAVI.OL Yearly ROA, ROE, ROICHAVI.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -1K -2K

1.3 Margins

  • With a Profit Margin value of 6.20%, HAVI perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
  • In the last couple of years the Profit Margin of HAVI has declined.
  • Looking at the Operating Margin, with a value of 20.67%, HAVI is in the better half of the industry, outperforming 77.78% of the companies in the same industry.
  • The Gross Margin of HAVI (89.04%) is better than 97.22% of its industry peers.
  • HAVI's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 20.67%
PM (TTM) 6.2%
GM 89.04%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-47.14%
PM growth 5YN/A
GM growth 3Y2.29%
GM growth 5Y0.48%
HAVI.OL Yearly Profit, Operating, Gross MarginsHAVI.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100 -100 -200

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2

2. HAVI.OL Health Analysis

2.1 Basic Checks

  • HAVI has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
  • HAVI has about the same amout of shares outstanding than it did 1 year ago.
  • HAVI has more shares outstanding than it did 5 years ago.
  • The debt/assets ratio for HAVI is higher compared to a year ago.
HAVI.OL Yearly Shares OutstandingHAVI.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M 250M
HAVI.OL Yearly Total Debt VS Total AssetsHAVI.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B 5B

2.2 Solvency

  • HAVI has an Altman-Z score of -0.20. This is a bad value and indicates that HAVI is not financially healthy and even has some risk of bankruptcy.
  • HAVI has a Altman-Z score (-0.20) which is comparable to the rest of the industry.
  • HAVI has a debt to FCF ratio of 5.66. This is a neutral value as HAVI would need 5.66 years to pay back of all of its debts.
  • With a Debt to FCF ratio value of 5.66, HAVI perfoms like the industry average, outperforming 44.44% of the companies in the same industry.
  • HAVI has a Debt/Equity ratio of 1.41. This is a high value indicating a heavy dependency on external financing.
  • HAVI has a worse Debt to Equity ratio (1.41) than 83.33% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.41
Debt/FCF 5.66
Altman-Z -0.2
ROIC/WACC1.75
WACC6.26%
HAVI.OL Yearly LT Debt VS Equity VS FCFHAVI.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B -1B 2B 3B 4B

2.3 Liquidity

  • A Current Ratio of 0.48 indicates that HAVI may have some problems paying its short term obligations.
  • HAVI's Current ratio of 0.48 is on the low side compared to the rest of the industry. HAVI is outperformed by 94.44% of its industry peers.
  • A Quick Ratio of 0.48 indicates that HAVI may have some problems paying its short term obligations.
  • HAVI's Quick ratio of 0.48 is on the low side compared to the rest of the industry. HAVI is outperformed by 94.44% of its industry peers.
Industry RankSector Rank
Current Ratio 0.48
Quick Ratio 0.48
HAVI.OL Yearly Current Assets VS Current LiabilitesHAVI.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

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4

3. HAVI.OL Growth Analysis

3.1 Past

  • HAVI shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 124.68%, which is quite impressive.
  • The earnings per share for HAVI have been decreasing by -46.89% on average. This is quite bad
  • HAVI shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 14.06%.
  • HAVI shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -4.88% yearly.
EPS 1Y (TTM)124.68%
EPS 3Y-46.89%
EPS 5YN/A
EPS Q2Q%-78.33%
Revenue 1Y (TTM)14.06%
Revenue growth 3Y2.28%
Revenue growth 5Y-4.88%
Sales Q2Q%6.02%

3.2 Future

  • No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
  • HAVI is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 8.41% yearly.
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year20.21%
Revenue Next 2Y11.04%
Revenue Next 3Y8.41%
Revenue Next 5YN/A

3.3 Evolution

  • No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
HAVI.OL Yearly Revenue VS EstimatesHAVI.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
HAVI.OL Yearly EPS VS EstimatesHAVI.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 0 -200 -400 -600

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5

4. HAVI.OL Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 4.86, the valuation of HAVI can be described as very cheap.
  • Based on the Price/Earnings ratio, HAVI is valued cheaply inside the industry as 88.89% of the companies are valued more expensively.
  • When comparing the Price/Earnings ratio of HAVI to the average of the S&P500 Index (26.29), we can say HAVI is valued rather cheaply.
Industry RankSector Rank
PE 4.86
Fwd PE N/A
HAVI.OL Price Earnings VS Forward Price EarningsHAVI.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 0 0 0 0

4.2 Price Multiples

  • 80.56% of the companies in the same industry are more expensive than HAVI, based on the Enterprise Value to EBITDA ratio.
  • 100.00% of the companies in the same industry are more expensive than HAVI, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 1.58
EV/EBITDA 3.84
HAVI.OL Per share dataHAVI.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0.5 1 1.5 2

4.3 Compensation for Growth

  • HAVI has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A

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

0

5. HAVI.OL Dividend Analysis

5.1 Amount

  • No dividends for HAVI!.
Industry RankSector Rank
Dividend Yield 0%

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HAVI.OL Fundamentals: All Metrics, Ratios and Statistics

HAVILA SHIPPING ASA

OSL:HAVI (3/6/2026, 7:00:00 PM)

1.07

-0.03 (-2.73%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)02-26
Earnings (Next)N/A
Inst Owners14.07%
Inst Owner ChangeN/A
Ins Owners2.52%
Ins Owner ChangeN/A
Market Cap294.43M
Revenue(TTM)629.08M
Net Income(TTM)38.99M
Analysts82.86
Price Target2.35 (119.63%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 4.86
Fwd PE N/A
P/S 0.47
P/FCF 1.58
P/OCF 1.58
P/B 0.81
P/tB 0.81
EV/EBITDA 3.84
EPS(TTM)0.22
EY20.56%
EPS(NY)0
Fwd EYN/A
FCF(TTM)0.68
FCFY63.21%
OCF(TTM)0.68
OCFY63.21%
SpS2.29
BVpS1.32
TBVpS1.32
PEG (NY)N/A
PEG (5Y)N/A
Graham Number2.56
Profitability
Industry RankSector Rank
ROA 2.54%
ROE 10.74%
ROCE 14.22%
ROIC 10.95%
ROICexc 13.09%
ROICexgc 13.09%
OM 20.67%
PM (TTM) 6.2%
GM 89.04%
FCFM 29.58%
ROA(3y)0.97%
ROA(5y)13.65%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)42.74%
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)55.5%
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-47.14%
PM growth 5YN/A
GM growth 3Y2.29%
GM growth 5Y0.48%
F-Score7
Asset Turnover0.41
Health
Industry RankSector Rank
Debt/Equity 1.41
Debt/FCF 5.66
Debt/EBITDA 1.63
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 1.9
Cash Conversion 59.25%
Profit Quality 477.26%
Current Ratio 0.48
Quick Ratio 0.48
Altman-Z -0.2
F-Score7
WACC6.26%
ROIC/WACC1.75
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)124.68%
EPS 3Y-46.89%
EPS 5YN/A
EPS Q2Q%-78.33%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)14.06%
Revenue growth 3Y2.28%
Revenue growth 5Y-4.88%
Sales Q2Q%6.02%
Revenue Next Year20.21%
Revenue Next 2Y11.04%
Revenue Next 3Y8.41%
Revenue Next 5YN/A
EBIT growth 1Y-0.43%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year29.86%
EBIT Next 3Y11.47%
EBIT Next 5YN/A
FCF growth 1Y455.68%
FCF growth 3Y22%
FCF growth 5Y19.3%
OCF growth 1Y455.68%
OCF growth 3Y22%
OCF growth 5Y19.3%

HAVILA SHIPPING ASA / HAVI.OL FAQ

What is the fundamental rating for HAVI stock?

ChartMill assigns a fundamental rating of 4 / 10 to HAVI.OL.


What is the valuation status of HAVILA SHIPPING ASA (HAVI.OL) stock?

ChartMill assigns a valuation rating of 5 / 10 to HAVILA SHIPPING ASA (HAVI.OL). This can be considered as Fairly Valued.


What is the profitability of HAVI stock?

HAVILA SHIPPING ASA (HAVI.OL) has a profitability rating of 6 / 10.


What are the PE and PB ratios of HAVILA SHIPPING ASA (HAVI.OL) stock?

The Price/Earnings (PE) ratio for HAVILA SHIPPING ASA (HAVI.OL) is 4.86 and the Price/Book (PB) ratio is 0.81.