2 models fit Hafnia Limited Common Shares and they agree: 2 of 2 land within 15% of the average. The price is below every model.
Two or more of our models back this value.
Large discount(i)Silver76
Valued as a cyclical company: P/E comparison, EV/EBITDA comparison, Discounted cash flow, and Graham number.
ACCE opinionHafnia Limited Common Shares (HAFN)
Fair value (2 models)
$18.21
ACCE price target
$11.00
Rating
Undervalued
Horizon
12 months
Fair value published on 16 Oct 2026, 00:00 CEST; previously $18.71 since 11 Oct 2026, 00:00 CEST.
ACCE price target published on 24 Oct 2026, 03:20 CEST; previously $10.20 since 10 Oct 2026, 00:00 CEST.
Rating published on 20 Oct 2026, 16:04 CEST.
Price used: $10.50 at the close on 23 Oct 2026, 22:00 CEST.
Models: Discounted cash flow, EV/EBITDA comparison, Graham number, and P/E comparison.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
42.4% below
+73.5% to fair value
ACCE score
93
out of 100
Analysts
100% buy
2 covering
P/E
8.1x
forward 12.1x
1-year return
+64.8%
Dividend yield
10.55%
Hafnia Limited Common Shares in four questions
Plain answers, details below
Free accounts get 5 full stock pages a month, including the four answers.
Overview
ACCE thesis
Hafnia owns and operates a fleet of product and chemical tankers that carry refined fuels and clean petroleum products between refineries and import markets. Scale in a fragmented tanker market gives it commercial reach and pricing visibility that smaller owners lack. Earnings are driven by charter rates, and revenue grew 47.2% in the latest period. At 8.5x trailing earnings with a 26.6% return on equity and a 29.5% operating margin, the stock is priced for rates to fall, which makes the rate outlook the thing to test.
⚠ Investor warnings · 1 flagAI-assisted·How I use AI
moderate
Heavy insider selling
Insiders sold $121.43M across the last 10 disclosed transactions with no buys. Insiders also hold 42.7% of shares, so sales may reflect diversification or planned selling rather than a view on the business.
AI research notes
AI-assisted·How I use AIWritten Oct 14, 2026 · figures from 2026-10-13 · prices to Oct 23, 2026
Why it could do well
Revenue grew 47.2% year over year, well above its 21.9% average annual growth over the past five years.
The shares trade at 8.5 times trailing earnings and 7.2% free cash flow yield, while the sector median forward P/E is 24.1 times.
Analysts' mean price target of $11.50 sits above the $10.85 share price, and both covering analysts rate it Buy or Strong Buy.
Why it could disappoint
The forward P/E of 12.1 times is well above the trailing 8.5 times, which implies earnings are expected to fall.
Return on invested capital is only 8.3%, a thin return on the capital the business actually uses.
Two of the four valuation models in the consensus support the $18.71 fair value, so the 72.4% upside rests on a narrow base.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Dec 7, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
Walk me through this stock
Plain-English pros, cons, and what to watch. Pro feature.
PRO
Ask ACCE
Valuation
INVESTOR
Where HAFN's valuation models land
Price
$10.50
Model fair value
$18.21
Model range
$17.51 to $18.92
Fair value $18.21
Price $10.50
The price is below the whole model range.
Model
Fair value
Upside
Discounted cash flow
EV/EBITDA comparison
Graham number
P/E comparison
Create a free account: 5 full stock pages a month, no card.
See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.
Quality
INVESTOR
Quality and conviction INVESTOR FEATURE
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
+A plain reason under every score
+Conviction breakdown and growth / value / quality / momentum scores