# Hafnia Ltd (HAFN)

Source page: https://stoqly.net/companies/hafn

- **Ticker:** HAFN (NYSE)
- **Sector:** Industrials / Transportation Services
- **SEC CIK:** 0001815779
- **Latest annual report:** 20-F filed 2026-04-17 (https://www.sec.gov/Archives/edgar/data/1815779/000114036126015278/ef20060668.htm)
- **Data updated:** 2026-11-09

## What the company does

Hafnia transports petroleum products and chemicals by sea in product and chemical tankers. Its customers include international and national oil companies, chemical companies, trading companies and utility companies. The ships carry cargoes such as gasoline, diesel, naphtha, kerosene, fuel oil and crude oil, and operate worldwide throughout the year.

Hafnia groups its main fleet by vessel size: Long Range II (LR2), Long Range I (LR1), Medium Range (MR) and Handy. It also sometimes operates smaller stainless steel and specialised tankers through its commercial pools. As at December 31, 2025, its Combined Fleet included 187 vessels, comprising ships it owns, leases or charters, joint-venture vessels and third-party vessels it manages commercially. Hafnia competes with other tanker owners and operators, including publicly listed companies, oil companies, state-controlled entities and private shipowners.

Hafnia provides commercial management for nearly all vessels in its Combined Fleet and technical management for some of its own and joint-venture ships, using outside managers for others. Most of its fleet trades through pools that coordinate vessels commercially; some ships are chartered directly to customers. Hafnia is headquartered in Singapore and also has offices in Copenhagen, Houston, Mumbai, Dubai and Monaco.

## Key figures

- **Last close:** $9.59 on 2026-11-13 (−0.31% on the day)
- **Market cap:** $4.8B
- **P/E (trailing):** 14.3x
- **EPS, trailing 12 months:** $0.67
- **Revenue (FY2025):** $2.3B
- **Revenue growth:** −20.5%
- **Gross margin:** 41.9%
- **Operating margin:** 16.2%
- **Net margin:** 14.9%
- **Free cash flow:** $457M
- **Free cash flow margin:** 20.0%
- **Return on invested capital:** 11.3%
- **Return on equity:** 14.8%
- **Net debt:** $930M
- **Net debt / EBITDA:** 1.6x
- **Change in share count:** −2.1%
- **Piotroski F-score:** 6/9
- **Insider buys, last 90 days:** $0.0M
- **Insider sells, last 90 days:** $0.0M

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## Annual results

From SEC EDGAR XBRL filings. Full table: https://stoqly.net/companies/hafn/figures.csv

| US$ millions | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---:|---:|---:|---:|
| Revenue | 1,927 | 2,672 | 2,869 | 2,282 |
| Operating income | 823 | 858 | 806 | 370 |
| Net income | 752 | 793 | 774 | 340 |
| Diluted EPS (US$) | 1.54 | 1.56 | 1.50 | 0.67 |
| Operating cash flow | 771 | 1,061 | 1,030 | 603 |
| Free cash flow | 324 | 876 | 981 | 457 |
| Cash | 280 | 223 | 284 | 193 |
| Debt and leases | — | 1,292 | 1,122 | 1,123 |

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Source: SEC EDGAR filings and end-of-day prices, via Stoqly. For information only — not investment advice or a recommendation to buy, sell or hold any security.