Hafnia Limited (HAFNI) Fair Value & Analysis
Industrials · NO · Market cap 35.9B NOK
Fair value as of: Jul 15, 2026
From 26 valuation models · updated 26 days ago
Fair value updated Jul 15, 2026, revised from kr 12.98 to kr 11.55 (−11.0%) since Jun 24, 2026. Share price −0.2% over the past month.
A solid business, but screening 84% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (kr 14.44). The favourable scenario is already priced in.
- Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.
How to read this chart
60‑month range kr 8.03 – kr 81.74 · fair‑value band kr 8.67 – kr 14.44 · the kr 71.05 price screens above the kr 11.55 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.
Analysis
Hafnia Limited (HAFNI) currently trades at kr 71.05, while our model-based Fair Value estimate is kr 11.55, implying the stock looks roughly 83.7% overvalued today. The Quality Score stands at 63/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Hafnia Limited generated revenue of 2.4B NOK at a net margin of 19.0%. Revenue grew 22.5% year over year. It earns a return on equity of 18.9%. Net debt stands at 945M NOK. Fundamentals as of Jul 15, 2026
Our scenario range runs from kr 8.67 (bear case) to kr 14.44 (bull case); at kr 71.05, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 18% below its 52-week high and 56% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 67% fair-value upside, at -84%, HAFNI screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: DCF Models (kr 21.11) versus Asset-Based (kr 3.12). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 64 · Market factors (momentum, volatility) 70
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Hafnia Limited., an investment holding company, owns and operates oil product tankers in Bermuda. It operates through Long Range II, Long Range I, Medium Range (MR), and Handy Size segments.
Full company description
Hafnia Limited., an investment holding company, owns and operates oil product tankers in Bermuda. It operates through Long Range II, Long Range I, Medium Range (MR), and Handy Size segments. The company transports clean and dirty, refined oil products, vegetable oil, and easy chemicals to national and international oil companies, and chemical companies, as well as trading and utility companies. It also engages in ship owning, chartering, and provision of maritime services in the product and chemical tankers market. The company was formerly known as BW Tankers Limited and changed its name to Hafnia Limited. In January 2019. Hafnia Limited was founded in 2010 and is based in Singapore.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Hafnia Limited reported revenue of kr 2.3B in FY2025 versus kr 811M in FY2021, a compound +29.5%/yr. Reported net income was kr 340M in FY2025.
HAFNI screens 84% overvalued. Compare with Adani Ports and Special Economic Zone Limited →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- HAFNIA LIMITED: Hafnia Announces Planned CEO Succession
- Pareto Revises Hafnia (HAFN) Rating to Hold From Buy
- HAFNIA LIMITED: Ex dividend USD 0.2877 on the Oslo Stock Exchange today
- Assessing Hafnia (OB:HAFNI) Valuation After Recent Share Price Volatility
Peer Group
Marine Shipping · 231 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Marine Shipping median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 20/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Marine Shipping stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Adani Ports and Special Economic Zone Limited ADANIPORTS | ₹1,828 | ₹1,041 | -43% |
| A.P. Møller - Mærsk A/S MAERSKA | kr 16,520 | kr 3,033 | -82% |
| COSCO SHIPPING Holdings 601919 | ¥13.98 | ¥40.37 | +189% |
| Shanghai International Port (Group) Co 600018 | ¥5.17 | ¥6.57 | +27% |
| HMM Co 011200 | 20,050 KRW | 33,855 KRW | +69% |
| Ningbo Zhoushan Port Company 601018 | ¥3.35 | ¥5.58 | +67% |
| Qingdao Port International Co 601298 | ¥8.88 | ¥15.97 | +80% |
| JSW Infrastructure Limited JSWINFRA | ₹330.05 | ₹126.31 | -62% |
| Wan Hai Lines Ltd 2615 | 80.70 TWD | 212.79 TWD | +164% |
| Wallenius Wilhelmsen ASA WAWI | kr 137.70 | kr 50.56 | -63% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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