Hafnia Limited

DB:RE0 Stock Report

Market Cap: €2.6b

Hafnia Valuation

Is RE0 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of RE0 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: RE0 (€4.85) is trading below our estimate of fair value (€20.67)

Significantly Below Fair Value: RE0 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for RE0?

Key metric: As RE0 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for RE0. This is calculated by dividing RE0's market cap by their current earnings.
What is RE0's PE Ratio?
PE Ratio3.5x
EarningsUS$802.14m
Market CapUS$2.78b

Price to Earnings Ratio vs Peers

How does RE0's PE Ratio compare to its peers?

The above table shows the PE ratio for RE0 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average34.3x
VH2 Friedrich Vorwerk Group
30.2x25.7%€500.0m
CE2 CropEnergies
15.3x-7.5%€1.0b
CE2 CropEnergies
82.4xn/a€1.2b
ETG EnviTec Biogas
9.1xn/a€455.9m
RE0 Hafnia
3.5x-20.3%€31.0b

Price-To-Earnings vs Peers: RE0 is good value based on its Price-To-Earnings Ratio (3.5x) compared to the peer average (34.3x).

Price to Earnings Ratio vs Industry

How does RE0's PE Ratio compare vs other companies in the European Oil and Gas Industry?

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
RE0 3.5xIndustry Avg. 8.1xNo. of Companies20PE0612182430+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: RE0 is good value based on its Price-To-Earnings Ratio (3.5x) compared to the European Oil and Gas industry average (8.2x).

Price to Earnings Ratio vs Fair Ratio

What is RE0's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

RE0 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio3.5x
Fair PE Ratio12.6x

Price-To-Earnings vs Fair Ratio: RE0 is good value based on its Price-To-Earnings Ratio (3.5x) compared to the estimated Fair Price-To-Earnings Ratio (12.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst RE0 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€4.85
€8.27
+70.4%
7.2%€9.17€7.35n/a5
Nov ’25€5.04
€8.35
+65.7%
7.2%€9.27€7.43n/a5
Oct ’25€6.51
€8.71
+33.8%
7.3%€9.36€7.50n/a5
Sep ’25€7.31
€9.04
+23.6%
2.9%€9.34€8.67n/a5
Aug ’25€7.19
€8.84
+23.0%
3.8%€9.21€8.38n/a5
Jul ’25€7.58
€9.22
+21.8%
3.5%€9.64€8.77n/a5
Jun ’25€8.09
€9.05
+11.8%
3.5%€9.46€8.60n/a5
May ’25€7.08
€8.28
+17.0%
5.4%€8.86€7.76n/a5
Apr ’25€6.40
€8.24
+28.8%
4.1%€8.63€7.86n/a5
Mar ’25€6.76
€8.25
+22.0%
3.7%€8.77€7.89n/a5
Feb ’25€6.80
€8.07
+18.8%
2.4%€8.37€7.84n/a5
Jan ’25€6.02
€7.99
+32.8%
7.0%€9.01€7.21n/a6
Dec ’24€5.76
€7.99
+38.9%
7.0%€9.01€7.21n/a6
Nov ’24€6.17
€7.64
+24.0%
10.3%€8.88€6.26€5.046
Oct ’24€5.92
€7.51
+26.9%
9.3%€8.26€6.43€6.515
Sep ’24€5.28
€7.51
+42.4%
9.3%€8.26€6.43€7.315
Aug ’24€4.79
€7.69
+60.6%
9.5%€8.48€6.60€7.196
Jul ’24€4.40
€7.51
+70.6%
6.7%€8.09€6.56€7.586
Jun ’24€4.36
€7.44
+70.5%
7.2%€8.05€6.52€8.095
May ’24€4.79
€7.18
+49.9%
3.2%€7.48€6.88€7.085
Apr ’24€5.15
€7.22
+40.2%
2.5%€7.52€7.08€6.405
Mar ’24€5.60
€7.24
+29.4%
5.1%€7.68€6.59€6.765
Feb ’24€4.83
€7.08
+46.8%
6.8%€7.68€6.48€6.804
Jan ’24€4.68
€7.28
+55.8%
6.8%€7.90€6.67€6.024
Dec ’23€5.17
€7.55
+46.0%
5.3%€7.96€7.01€5.763
Nov ’23€5.37
€7.35
+36.8%
7.5%€8.12€6.87€6.173

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

Discover undervalued companies

International Seaways

US$2.1b

Owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade.

IS5

US$39.76

7D

-8.0%

1Y

-5.9%

Afentra

UK£100.6m

Operates as an upstream oil and gas company primarily in Africa.

TB8A

UK£0.52

7D

-2.8%

1Y

59.0%

Etablissements Maurel & Prom

€987.9m

Engages in exploration and production of oil and gas, and hydrocarbons in Gabon, Tanzania, Angola, Colombia, and France.

ETX

€4.89

7D

-4.5%

1Y

-22.4%