Hafnia Ltd (HAFN) intrinsic value & 10-year financials
Hafnia Ltd (HAFN) has a Graham intrinsic value of $49.82 per share. At $10.50 on Oct 24, 2026, the stock trades 79% below that value. Over the last 4 fiscal years revenue grew 22.0% a year to $2.9B, with an average return on invested capital of 34.4%.
- Graham intrinsic value
- $49.82
- Share price (Oct 24, 2026)
- $10.50
- Price vs Graham value
- 79% below
- Market cap
- $5.4B
- Revenue (FY2024)
- $2.9B
- Revenue growth (4-yr CAGR)
- 22.0%
- ROIC (10-yr avg)
- 34.4%
- Free cash flow (FY2024)
- $980.8M
HAFN 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2024 | $2.9B | $774.0M | $1.50 | $980.8M | 28.1% | 25.0% |
| FY2023 | $2.7B | $793.3M | $1.56 | $876.4M | 32.1% | 25.8% |
| FY2022 | $1.9B | $751.6M | $1.54 | $323.8M | 42.7% | 52.3% |
| FY2021 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Hafnia Ltd revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Hafnia Ltd has earned high returns on invested capital, averaging 25.4% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Hafnia Ltd capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Hafnia Ltd is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $49.82 per share.