Hafnia Limited

OB:HAFNI Stock Report

Market Cap: NOK 26.4b

Hafnia Valuation

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

Discounted Cash Flow
Simply Wall St
NOK 287.16
Fair Value
81.6% undervalued intrinsic discount
3
Number of Analysts

Below Fair Value: HAFNI (NOK52.96) is trading below our estimate of fair value (NOK287.16)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for HAFNI. This is calculated by dividing HAFNI's market cap by their current earnings.
What is HAFNI's PE Ratio?
PE Ratio4.2x
EarningsUS$617.65m
Market CapUS$2.60b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for HAFNI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average6.3x
BWLPG BWG
6.3x-0.52%NOK 16.5b
OET Okeanis Eco Tankers
9.6x12.96%NOK 7.8b
CLCO Cool
4.6x-15.72%NOK 3.3b
ALNG Awilco LNG
4.8x-159.79%NOK 324.7m
HAFNI Hafnia
4.2x-15.93%NOK 26.4b

Price-To-Earnings vs Peers: HAFNI is good value based on its Price-To-Earnings Ratio (4.2x) compared to the peer average (6.3x).

Price to Earnings Ratio vs Industry

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

7 CompaniesPrice / EarningsEstimated GrowthMarket Cap
HAFNI 4.2xIndustry Avg. 9.3xNo. of Companies16PE0612182430+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HAFNI is good value based on its Price-To-Earnings Ratio (4.2x) compared to the European Oil and Gas industry average (9.3x).

Price to Earnings Ratio vs Fair Ratio

What is HAFNI'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.

HAFNI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio4.2x
Fair PE Ratio5.4x

Price-To-Earnings vs Fair Ratio: HAFNI is good value based on its Price-To-Earnings Ratio (4.2x) compared to the estimated Fair Price-To-Earnings Ratio (5.4x).

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 HAFNI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 52.96
NOK 68.17
+28.71%
9.28%NOK 77.00NOK 62.50n/a3
May ’26NOK 47.85
NOK 46.67
-2.47%
64.06%NOK 77.00NOK 6.00n/a3
Apr ’26NOK 43.04
NOK 49.17
+14.23%
66.97%NOK 85.00NOK 5.50n/a3
Mar ’26NOK 48.08
NOK 53.83
+11.97%
64.37%NOK 85.00NOK 5.50n/a3
Feb ’26NOK 59.85
NOK 92.96
+55.32%
12.81%NOK 109.81NOK 73.00n/a5
Jan ’26NOK 60.75
NOK 92.96
+53.02%
12.81%NOK 109.81NOK 73.00n/a5
Dec ’25NOK 63.70
NOK 95.96
+50.65%
7.94%NOK 109.81NOK 88.00n/a5
Nov ’25NOK 64.25
NOK 98.96
+54.03%
7.23%NOK 109.81NOK 88.00n/a5
Oct ’25NOK 75.80
NOK 102.16
+34.78%
7.35%NOK 109.81NOK 88.00n/a5
Sep ’25NOK 86.00
NOK 106.36
+23.68%
2.91%NOK 110.00NOK 102.00n/a5
Aug ’25NOK 85.65
NOK 105.56
+23.25%
3.83%NOK 110.00NOK 100.00n/a5
Jul ’25NOK 87.00
NOK 105.20
+20.92%
3.53%NOK 110.00NOK 100.00n/a5
Jun ’25NOK 91.95
NOK 105.20
+14.41%
3.53%NOK 110.00NOK 100.00n/a5
May ’25NOK 84.20
NOK 98.20
+16.63%
5.40%NOK 105.00NOK 92.00NOK 47.855
Apr ’25NOK 74.65
NOK 95.40
+27.80%
4.07%NOK 100.00NOK 91.00NOK 43.045
Mar ’25NOK 78.05
NOK 94.00
+20.44%
3.75%NOK 100.00NOK 90.00NOK 48.085
Feb ’25NOK 78.55
NOK 91.60
+16.61%
2.35%NOK 95.00NOK 89.00NOK 59.855
Jan ’25NOK 70.20
NOK 93.17
+32.72%
7.00%NOK 105.00NOK 84.00NOK 60.756
Dec ’24NOK 68.00
NOK 93.17
+37.01%
7.00%NOK 105.00NOK 84.00NOK 63.706
Nov ’24NOK 74.00
NOK 90.33
+22.07%
10.32%NOK 105.00NOK 74.00NOK 64.256
Oct ’24NOK 66.55
NOK 86.40
+29.83%
9.33%NOK 95.00NOK 74.00NOK 75.805
Sep ’24NOK 61.85
NOK 86.40
+39.69%
9.33%NOK 95.00NOK 74.00NOK 86.005
Aug ’24NOK 54.95
NOK 86.17
+56.81%
9.46%NOK 95.00NOK 74.00NOK 85.656
Jul ’24NOK 52.45
NOK 88.17
+68.10%
6.69%NOK 95.00NOK 77.00NOK 87.006
Jun ’24NOK 52.90
NOK 87.80
+65.97%
7.18%NOK 95.00NOK 77.00NOK 91.955
May ’24NOK 57.65
NOK 83.60
+45.01%
3.17%NOK 87.00NOK 80.00NOK 84.205
AnalystConsensusTarget
Consensus Narrative from 3 Analysts
NOK 68.17
Fair Value
22.3% undervalued intrinsic discount
3
Number of Analysts

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 Analysis2025/05/27 08:00
End of Day Share Price 2025/05/27 00:00
Earnings2025/03/31
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

Hafnia Limited is covered by 9 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