Hafnia Ltd
HAFN NYSE· Transportation Services
Last close · Nov 13, 2026
$9.59
Latest fiscal year · FY25 results fiscal year ended Dec 31, 2025 · vs FY24
| Line | FY24 | FY25 | Change (y/y) |
|---|---|---|---|
| Revenue | $2.9B | $2.3B | 20.5% |
| Net income | $774M | $340M | 56.1% |
| Diluted EPS | $1.50 | $0.67 | 55.3% |
| Operating margin | 28.1% | 16.2% | 11.9 pts |
| Free cash flow | $981M | $457M | 53.4% |
Key numbers, fiscal 2025
Market cap
$4.8B
P/E
14.3x
Revenue
$2.3B
Net income
$340M
Free cash flow
$457M
Operating margin
16.2%
Hafnia Ltd in 30 seconds fiscal 2025
Are sales growing?
−20.5%
No. Sales fell 20.5% last year.
Does it make a profit?
14.9%
Yes. It keeps 14.9% of every sale as profit.
Does profit turn into cash?
20.0%
Yes. 20.0% of sales ends up as free cash.
Is debt under control?
1.6x
Keep an eye on it. Repaying its debt would take 1.6 years of operating profit.
How healthy are the accounts?
6 / 9
Mixed. It passes 6 of 9 health tests.
How is the share priced?
14.3x
One share costs 14.3 times its yearly profit per share.
What Hafnia Ltd 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.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · Apr 17, 2026
- Legal name
- Hafnia Ltd
- CIK
- 0001815779
Hafnia Ltd · HAFN · stoqly.net
Results and finances
The last 4 fiscal years. Amounts in USD. Compiled by stoqly.net.
| Fiscal year | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Sales and profit | ||||
| Revenue | $1.9B | $2.7B | $2.9B | $2.3B |
| Revenue growth | — | 38.7% | 7.4% | −20.5% |
| Gross margin | 69.9% | 51.2% | 48.5% | 41.9% |
| Operating margin | 42.7% | 32.1% | 28.1% | 16.2% |
| Net income | $752M | $793M | $774M | $340M |
| Net margin | 39.0% | 29.7% | 27.0% | 14.9% |
| Diluted EPS | $1.54 | $1.56 | $1.50 | $0.67 |
| Cash | ||||
| Cash from operations | $771M | $1.1B | $1.0B | $603M |
| Capital expenditure | $447M | $184M | $49.6M | $146M |
| Free cash flow | $324M | $876M | $981M | $457M |
| FCF margin | 16.8% | 32.8% | 34.2% | 20.0% |
| Dividends paid | $244M | $544M | $700M | $199M |
| Share count change | — | 4.0% | 1.3% | −2.1% |
| Debt and strength | ||||
| Cash and short-term investments | $280M | $223M | $284M | $193M |
| Debt incl. finance leases | — | $1.3B | $1.1B | $1.1B |
| Shareholders' equity | $2.0B | $2.2B | $2.3B | $2.3B |
| Net debt / EBITDA | — | 1.0x | 0.8x | 1.6x |
| Current ratio | — | 1.4x | 1.4x | 1.5x |
| Interest coverage | 9.0x | 11.1x | 15.4x | 7.4x |
| Returns and quality | ||||
| Return on capital | — | 25.8% | 25.8% | 11.3% |
| Return on equity | 37.4% | 37.4% | 34.5% | 14.8% |
| Return on tangible equity | 37.4% | 35.6% | 34.2% | 14.6% |
| Piotroski F-score | — | — | 6 | 6 |
| Altman Z'' | — | 3.8 | 4.2 | 3.5 |
Insider trades 12 months
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$8.9M
2 insiders
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Hafnia Ltd · HAFN · stoqly.net
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Compiled and analysed by stoqly.net from SEC EDGAR XBRL filings (CIK 0001815779). Latest version: stoqly.net/companies/hafn. Data updated November 9, 2026. For information only — not investment advice. Check the original filings before relying on any figure.