Hafnia Limited

NYSE:HAFN Stock Report

Market Cap: US$2.7b

Hafnia Valuation

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

Below Fair Value: HAFN ($5.27) is trading below our estimate of fair value ($21.69)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for HAFN. This is calculated by dividing HAFN's market cap by their current earnings.
What is HAFN's PE Ratio?
PE Ratio3.4x
EarningsUS$802.14m
Market CapUS$2.74b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for HAFN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average9.1x
INSW International Seaways
4x-10.6%US$2.1b
CEQP Crestwood Equity Partners
21.8x20.8%US$3.0b
STNG Scorpio Tankers
3.5x-26.3%US$2.6b
FRO Frontline
7.2x5.9%US$4.4b
HAFN Hafnia
3.4x-20.3%US$30.4b

Price-To-Earnings vs Peers: HAFN is good value based on its Price-To-Earnings Ratio (3.4x) compared to the peer average (4.9x).

Price to Earnings Ratio vs Industry

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

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
AXAS Abraxas Petroleum
0.09xn/aUS$10.27m
BYRO.F Byron Energy
0.03x-10.3%US$312.17k
USOP.Y U.S. Oil and Gas
n/an/aUS$6.00
No more companies available in this PE range
HAFN 3.4xIndustry Avg. 11.3xNo. of Companies15PE0612182430+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HAFN is good value based on its Price-To-Earnings Ratio (3.4x) compared to the US Oil and Gas industry average (11.2x).

Price to Earnings Ratio vs Fair Ratio

What is HAFN'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.

HAFN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio3.4x
Fair PE Ratio6.9x

Price-To-Earnings vs Fair Ratio: HAFN is good value based on its Price-To-Earnings Ratio (3.4x) compared to the estimated Fair Price-To-Earnings Ratio (6.9x).

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 HAFN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$5.27
US$9.03
+71.4%
7.2%US$10.02US$8.03n/a5
Nov ’25US$5.78
US$9.01
+55.9%
7.2%US$10.00US$8.01n/a5
Oct ’25US$7.28
US$9.73
+33.6%
7.3%US$10.45US$8.38n/a5
Sep ’25US$8.15
US$10.09
+23.7%
2.9%US$10.43US$9.67n/a5
Aug ’25US$7.83
US$9.63
+22.9%
3.8%US$10.03US$9.12n/a5
Jul ’25US$8.22
US$9.85
+19.8%
3.5%US$10.30US$9.36n/a5
Jun ’25US$8.95
US$9.83
+9.9%
3.5%US$10.28US$9.35n/a5
May ’25US$7.65
US$8.84
+15.6%
5.4%US$9.45US$8.28n/a5
Apr ’25US$7.09
US$8.94
+26.1%
4.1%US$9.37US$8.53n/a5
Mar ’25US$7.42
US$8.93
+20.4%
3.7%US$9.51US$8.55n/a5
Feb ’25US$7.49
US$8.77
+17.1%
2.4%US$9.10US$8.52n/a5
Jan ’25US$6.91
US$8.72
+26.3%
7.0%US$9.83US$7.86n/a6
Dec ’24US$6.44
US$8.72
+35.5%
7.0%US$9.83US$7.86n/a6
Nov ’24US$6.56
US$8.08
+23.2%
10.3%US$9.39US$6.62US$5.786
Oct ’24US$6.28
US$8.09
+28.9%
9.3%US$8.90US$6.93US$7.285
Sep ’24US$5.93
US$8.09
+36.5%
9.3%US$8.90US$6.93US$8.155
Aug ’24US$5.45
US$8.53
+56.5%
9.5%US$9.41US$7.33US$7.836
Jul ’24US$4.74
US$8.16
+72.2%
6.7%US$8.80US$7.13US$8.226
Jun ’24US$4.70
US$8.01
+70.6%
7.2%US$8.66US$7.02US$8.955
May ’24US$5.40
US$7.93
+47.1%
3.2%US$8.26US$7.59US$7.655
Apr ’24n/a
US$7.83
0%
2.5%US$8.15US$7.67US$7.095
Mar ’24US$6.25
US$7.72
+23.6%
5.1%US$8.19US$7.03US$7.425
Feb ’24US$5.16
US$7.73
+49.8%
6.8%US$8.38US$7.07US$7.494
Jan ’24US$5.28
US$7.63
+44.5%
6.8%US$8.28US$6.98US$6.914
Dec ’23n/a
US$7.78
0%
5.3%US$8.21US$7.22US$6.443
Nov ’23n/a
US$7.32
0%
7.5%US$8.09US$6.84US$6.563

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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