Hafnia Limited

BATS-CHIXE:HAFNIO Stock Report

Market Cap: NOK 30.3b

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 (NOK61.3) is trading below our estimate of fair value (NOK256.74)

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 Ratio3.4x
EarningsUS$802.14m
Market CapUS$2.73b

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 Average8.4x
ENOG Energean
9.2x7.0%UK£2.0b
NWF NWF Group
8x3.1%UK£72.7m
YCA Yellow Cake
2.1x-112.5%UK£1.2b
ITH Ithaca Energy
14.6x-8.8%UK£1.9b
HAFNIO Hafnia
3.4x-20.0%NOK 30.3b

Price-To-Earnings vs Peers: HAFNIO is good value based on its Price-To-Earnings Ratio (3.4x) compared to the peer average (8.5x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ROSN Rosneft Oil
1.5xn/aUS$21.03b
INDI Indus Gas
0.9xn/aUS$17.33m
No more companies available in this PE range
No. of Companies4PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HAFNIO is good value based on its Price-To-Earnings Ratio (3.4x) compared to the UK Oil and Gas industry average (9.2x).

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 Ratio3.4x
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 61.30
NOK 99.06
+61.6%
7.2%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 84.00n/a6
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
Dec ’23n/a
NOK 78.67
0%
5.3%NOK 83.00NOK 73.00n/a3
Nov ’23n/a
NOK 76.00
0%
7.5%NOK 84.00NOK 71.00n/a3

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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