Company Valuation: Hafnia Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 716.4 2,560 3,502 2,686 2,699 3,739 - -
Change - 257.27% 36.83% -23.29% 0.48% 38.51% - -
Enterprise Value (EV) 1 1,948 4,161 4,653 3,613 3,719 4,307 4,169 4,147
Change - 113.63% 11.84% -22.34% 2.91% 15.83% -3.22% -0.52%
P/E -12.9x 3.17x 4.27x 3.6x 8.51x 5.23x 10.3x 14x
PBR 0.66x 1.21x 1.46x - 1.22x 1.46x 1.47x 1.44x
PEG - -0x 1.26x 1.39x -0.1x 0x -0.2x -0.5x
Capitalization / Revenue 1.68x 1.85x 2.48x 1.88x 2.73x 2.96x 4.26x 4.67x
EV / Revenue 4.57x 3x 3.3x 2.53x 3.77x 3.41x 4.75x 5.18x
EV / EBITDA 12.8x 4.13x 4.59x 3.64x 6.65x 4.95x 8.02x 9.06x
EV / EBIT 24,969x 5.22x 5.8x 4.65x 10.4x 6.04x 12.3x 14.7x
EV / FCF 33.3x 14.7x 5.31x 3.68x 15.5x 4.82x 8.44x 23.9x
FCF Yield 3.01% 6.79% 18.8% 27.1% 6.43% 20.7% 11.8% 4.18%
Dividend per Share 3 - 8.354 10.58 13.02 5.243 11.3 6.002 4.431
Rate of return - 16.6% 15.1% 21.4% 9.64% 15.9% 8.45% 6.24%
EPS 3 -1.349 15.91 16.45 16.88 6.396 13.6 6.904 5.081
Distribution rate - 52.5% 64.3% 77.2% 82% 83.1% 86.9% 87.2%
Net sales 1 426.1 1,387 1,412 1,426 987 1,264 877.4 801
EBITDA 1 151.8 1,007 1,013 992.3 559.5 870.5 520 457.8
EBIT 1 0.078 797.7 801.9 777.2 357.4 712.9 339.2 281.3
Net income 1 -55.49 751.6 793.3 774 339.7 744.5 362.9 268.5
Net Debt 1 1,231 1,601 1,151 927 1,019 568.4 429.8 408.2
Reference price 3 17.38 50.40 70.20 60.75 54.40 71.05 71.05 71.05
Nbr of stocks (in thousands) 363,158 500,353 505,899 502,924 497,990 499,781 - -
Announcement Date 3/15/22 2/28/23 3/5/24 2/25/25 2/26/26 - - -
1NOK in Million2USD in Million3NOK
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.02x3.28x13.21x5.43% 112B
28.78x9.69x14.01x3% 86.11B
12.71x1.84x10.56x5.95% 81.67B
20.19x5.49x11.19x3.86% 68.7B
21.99x9.5x12.82x3.98% 65.93B
13.74x6.39x11.65x7.76% 59.72B
23.32x4.03x12.71x1.94% 55.08B
14.94x2.11x10.44x4.98% 54.48B
15.76x3.95x11.43x4.92% 31.32B
Average 19.60x 5.14x 12.00x 4.65% 68.35B
Weighted average by Cap. 20.43x 5.20x 12.17x 4.67%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield