Hafnia Limited

BATS-CHIXE:HAFNIO Stock Report

Market Cap: NOK 32.1b

Hafnia Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • 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 HAFNIO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HAFNIO (NOK63) is trading below our estimate of fair value (NOK261.7)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for HAFNIO. This is calculated by dividing HAFNIO's market cap by their current earnings.
What is HAFNIO's PE Ratio?
PE Ratio3.2x
EarningsUS$870.84m
Market CapUS$2.82b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for HAFNIO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average11.9x
ENOG Energean
9x4.3%UK£2.0b
NWF NWF Group
8.4x4.4%UK£76.4m
YCA Yellow Cake
7.7x-79.9%UK£1.1b
ITH Ithaca Energy
22.3x1.5%UK£2.0b
HAFNIO Hafnia
3.2x-24.2%NOK 32.1b

Price-To-Earnings vs Peers: HAFNIO is good value based on its Price-To-Earnings Ratio (3.2x) compared to the peer average (11.9x).

Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
ROSN Rosneft Oil
1.5xn/aUS$21.03b
No more companies available in this PE range
No. of Companies5PE0612182430+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HAFNIO is good value based on its Price-To-Earnings Ratio (3.2x) compared to the UK Oil and Gas industry average (8.7x).

Price to Earnings Ratio vs Fair Ratio

What is HAFNIO'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.

HAFNIO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio3.2x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate HAFNIO's Price-To-Earnings Fair Ratio for valuation analysis.

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 HAFNIO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 63.00
NOK 95.47
+51.5%
12.8%NOK 109.81NOK 73.00n/a6
Dec ’25n/a
NOK 95.96
0%
7.9%NOK 109.81NOK 88.00n/a5
Nov ’25n/a
NOK 98.96
0%
7.2%NOK 109.81NOK 88.00n/a5
Oct ’25n/a
NOK 102.16
0%
7.3%NOK 109.81NOK 88.00n/a5
Sep ’25n/a
NOK 106.36
0%
2.9%NOK 110.00NOK 102.00n/a5
Aug ’25n/a
NOK 105.56
0%
3.8%NOK 110.00NOK 100.00n/a5
Jul ’25n/a
NOK 105.20
0%
3.5%NOK 110.00NOK 100.00n/a5
Jun ’25n/a
NOK 105.20
0%
3.5%NOK 110.00NOK 100.00n/a5
May ’25n/a
NOK 98.20
0%
5.4%NOK 105.00NOK 92.00n/a5
Apr ’25n/a
NOK 95.40
0%
4.1%NOK 100.00NOK 91.00n/a5
Mar ’25n/a
NOK 94.00
0%
3.7%NOK 100.00NOK 90.00n/a5
Feb ’25n/a
NOK 91.60
0%
2.4%NOK 95.00NOK 89.00n/a5
Jan ’25n/a
NOK 93.17
0%
7.0%NOK 105.00NOK 84.00NOK 61.106
Dec ’24n/a
NOK 93.17
0%
7.0%NOK 105.00NOK 84.00n/a6
Nov ’24n/a
NOK 90.33
0%
10.3%NOK 105.00NOK 74.00n/a6
Oct ’24n/a
NOK 86.40
0%
9.3%NOK 95.00NOK 74.00n/a5
Sep ’24n/a
NOK 86.40
0%
9.3%NOK 95.00NOK 74.00n/a5
Aug ’24n/a
NOK 86.17
0%
9.5%NOK 95.00NOK 74.00n/a6
Jul ’24n/a
NOK 88.17
0%
6.7%NOK 95.00NOK 77.00n/a6
Jun ’24n/a
NOK 87.80
0%
7.2%NOK 95.00NOK 77.00n/a5
May ’24n/a
NOK 83.60
0%
3.2%NOK 87.00NOK 80.00n/a5
Apr ’24n/a
NOK 81.60
0%
2.5%NOK 85.00NOK 80.00n/a5
Mar ’24n/a
NOK 80.20
0%
5.1%NOK 85.00NOK 73.00n/a5
Feb ’24n/a
NOK 76.50
0%
6.8%NOK 83.00NOK 70.00n/a4
Jan ’24n/a
NOK 76.50
0%
6.8%NOK 83.00NOK 70.00n/a4

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/03 19:39
End of Day Share Price 2025/01/03 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Hafnia Limited is covered by 10 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Gregory LewisBTIG
Hans Rettedal ChristiansenDanske Bank