Hafnia Limited Common Shares (HAFN)

FairStock Score: 78/100 — HIGH CONVICTION

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I look first for understandable, durable businesses. Hafnia is understandable—it owns product tankers and transports clean and dirty refined products, vegetable oil and easy chemicals—but it is not a wide-moat franchise. At the 2026-10-13 close, Hafnia trades at $10.85, with a FairStock-calculated P/E of 8.35, EV/EBITDA of 5.39, and P/B of 2.05. FairStock’s Graham Number is $12.45, leaving a 12.85% margin of safety. In the second quarter of 2026, the company reported revenue of $815.8M and net income of $277.8M, a 34.05% net margin. Trailing free cash flow is $584.4M, a 13.8% FCF yield on the $4.2B market cap. FairStock shows ROE of 26.61%, ROCE of 9.65%, debt-to-equity of 0.33, a Piotroski F-Score of 9/9, and an Altman Z-Score of 2.84. The dividend yield is 10.98%, and beta is -0.15. Those are impressive, but the provided figures do not establish a durable moat. The 9/9 Piotroski and low PEG of 0.03 suggest strong recent momentum, yet the lack of a Lynch category because there are only 0 years of filed results in the provided history makes me cautious about extrapolating. I see a financially healthy, cash-generative company at a moderate discount, not a bargain with a durable moat. The price looks fair-to-cheap, but the margin of safety is thin and the latest quarter’s 34.05% net margin may be elevated.

In plain English: Hafnia owns and operates tanker ships that move refined oil products, vegetable oil and easy chemicals around the world. The business looks strong right now: it earned a large profit in the second quarter of 2026 and produces plenty of cash, while debt is moderate. At the 2026-10-13 close of $10.85, the stock looks reasonably cheap against those profits and cash flows, but the company operates in Marine Shipping, so today’s strength may not last.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer