Höegh LNG Holdings (HLNG) Fair Value & Analysis
Energy · NO · Market cap 1.8B NOK
Fair value as of: Jul 20, 2026
From 24 valuation models · updated 21 days ago
Below-average quality, and screening another 57% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (kr 17.29). The favourable scenario is already priced in.
- Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The model range is unusually wide (kr 5.73 to kr 17.29). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.
How to read this chart
60‑month range kr 23.10 – kr 23.40 · fair‑value band kr 5.73 – kr 17.29 · the kr 23.40 price screens above the kr 10.06 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.
Analysis
Höegh LNG Holdings (HLNG) currently trades at kr 23.40, while our model-based Fair Value estimate is kr 10.06, implying the stock looks roughly 57.0% overvalued today. The Quality Score stands at 44/100 (below-average quality), in the Energy 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: medium).
Over the trailing twelve months, Höegh LNG Holdings generated revenue of 332M NOK at a net margin of -13.7%. Revenue declined 3.2% year over year. It earns a return on equity of -0.2%. Net debt stands at 1.4B NOK. Fundamentals as of Jul 20, 2026
Our scenario range runs from kr 5.73 (bear case) to kr 17.29 (bull case); at kr 23.40, 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 near its 52-week high, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -35% fair-value upside, at -57%, HLNG 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 24 models by family
Widest divergence: Growth Earnings (kr 17.77) versus Growth DCF (kr 0.2800). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 46 · Market factors (momentum, volatility) 41
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
Höegh LNG Holdings Ltd., together with its subsidiaries, provides floating energy solutions worldwide. The company operates through four segments: HMLP, Operations, Business Development, and Project Execution. It owns and operates floating LNG import terminals, floating storage and regasification units (FSRUs), and LNG carriers (LNGCs).
Full company description
Höegh LNG Holdings Ltd., together with its subsidiaries, provides floating energy solutions worldwide. The company operates through four segments: HMLP, Operations, Business Development, and Project Execution. It owns and operates floating LNG import terminals, floating storage and regasification units (FSRUs), and LNG carriers (LNGCs). The company also acquires FSRUs, LNGCs, and other LNG infrastructure assets under long-term charters. As of December 31, 2020, it operated a fleet of two LNG transportation vessels, and ten floating storage and regasification units. The company is also involved in the commercial and technical management and bareboat hiring; and business development and project execution activities, as well as corporate functions. In addition, it owns ships. The company was incorporated in 2006 and is headquartered in Oslo, Norway. As of May 4, 2021, Höegh LNG Holdings Ltd. operates as a join venture between Leif Höegh & Co AS and Morgan Stanley Infrastructure Inc.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2019 – FY2023 · reported fiscal years
Höegh LNG Holdings reported revenue of kr 486M in FY2023 versus kr 315M in FY2019, a compound +11.4%/yr. Reported net income was kr 81.4M in FY2023, compounding +78.4%/yr from FY2019.
HLNG screens 57% overvalued. Compare with Enbridge Inc →
Peer Group
Oil & Gas Midstream · 87 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 Oil & Gas Midstream 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: 30/100
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 Oil & Gas Midstream stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Enbridge Inc ENB | $56.46 | $47.20 | -16% |
| The Williams Companies, Inc WMB | $73.38 | $12.03 | -84% |
| Enterprise Products Partners L.P. EPD | $38.31 | $24.74 | -35% |
| TC Energy Corporation TRP | C$97.79 | C$42.00 | -57% |
| Kinder Morgan, Inc KMI | $32.54 | $11.12 | -66% |
| Energy Transfer LP, ET | $19.91 | $17.69 | -11% |
| ONEOK, Inc OKE | $93.52 | $64.05 | -32% |
| Targa Resources Corp TRGP | $273.35 | $79.61 | -71% |
| MPLX LP owns and MPLX | $57.17 | $37.05 | -35% |
| Cheniere Energy, Inc LNG | $255.83 | $211.18 | -17% |
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Frequently asked questions
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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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