Stock fact sheet · data as of
Hafnia Limited (HAFN): fair value, margin of safety and Wheel Score
Industrials · Marine Shipping · Singapore · High Yield Income
Is HAFN undervalued?
HAFN has a margin of safety of 57%: the stock closed at 10.11 on 16 Oct 2026 against a GLS average fair value of 23.59. 7 of the 9 valuation models that produced a number sit above the price. Our screens treat a discount this large as a strong starting point for a cash-secured put, not as a verdict - the fair value is a model output, and a wide gap can mean the models are missing something the market knows.
There is a wide gap between GLS Growth (3.86) and DCF (93.65). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files HAFN under High Yield Income: a dividend yield above 4%.
Nine valuation models for HAFN
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 93.65 | +826% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 12.54 | +24% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 21.29 | +111% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 5.28 | -48% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 3.86 | -62% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 23.31 | +131% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 20.97 | +107% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 16.78 | +66% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 14.66 | +45% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -1.21 | -112% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 12.00 | +19% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Hafnia Limited scores 7 of 9 on the Piotroski F-score, the nine yes/no tests of profitability, leverage and efficiency on the latest annual accounts - a strong reading that passes the Sunday Scan's "6 or more" rule with room to spare. A GLS Moat score of 3.2/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.
Returns on capital are moderate - ROIC 10.1%, ROE 15.0%, ROA 9.2% - with debt at 0.49 times equity and a free-cash-flow yield of 10.2%.
The dividend yield is high at 11.28% (payout ratio 54%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Non lease component 100% (fiscal year FY2025).
Institutional ownership scores 2/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 10.1% |
|---|---|---|---|
| GLS Moat | 3.2 / 10 | ROE | 15.0% |
| Debt / equity | 0.49 | ROA | 9.2% |
| Free-cash-flow yield | 10.2% | Payout ratio | 54% |
| Institutions | 2 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 84: Prime
With a Wheel Score of 84, Hafnia Limited sits in the Prime band - price, quality and premium all line up for the wheel strategy. The parts: Value 25/25, Health 16/20, Moat 5/15, Premium 20/20, Stability 19/20. A high score is a ranking, not a signal: it says nothing about timing, the earnings date or your position size.
Implied volatility is 42% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 15,610 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 4.6M shares a day on a market cap of $5.3B, with a beta of -0.15 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 19 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 57% margin of safety | |
| Health | 16 / 20 | Piotroski 7/9 | |
| Moat | 5 / 15 | moat 3.2/10 | |
| Premium | 20 / 20 | implied volatility 42% | |
| Stability | 19 / 20 | 4.6M shares/day, $5.3B cap, beta -0.15 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 18 Nov 2026 (before the open), 33 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Marine Shipping
The 12 companies below are the closest to Hafnia Limited by market cap within the Marine Shipping industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| CMBT Cmb.Tech N.V. | 17.92 | 21.27 | +16% | 76Good | $5.2B |
| INSW International Seaways, Inc. | 113.11 | 133.59 | +15% | 74Good | $5.6B |
| STNG Scorpio Tankers Inc. | 85.98 | 178.00 | +52% | 86Prime | $4.3B |
| TRMD TORM plc | 39.91 | 58.25 | +31% | 83Prime | $4.1B |
| MATX Matson, Inc. | 236.86 | 129.10 | -83% | 59Fair | $7.1B |
| KEX Kirby Corporation | 137.15 | 227.61 | +40% | 86Prime | $7.2B |
| DHT DHT Holdings, Inc. | 23.43 | 40.72 | +42% | 82Prime | $3.8B |
| BWLP BW LPG Limited | 24.48 | 86.91 | +72% | 39No options | $3.7B |
| ZIM ZIM Integrated Shipping Services Ltd. | 29.84 | 70.48 | +58% | 79Good | $3.6B |
| TNK Teekay Tankers Ltd. | 101.56 | 150.97 | +33% | 78Good | $3.5B |
| SBLK Star Bulk Carriers Corp. | 28.77 | 32.78 | +12% | 77Good | $3.2B |
| ECO Okeanis Eco Tankers Corp. | 89.18 | 94.88 | +6% | 70Good | $2.9B |
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Start free See the Sunday ScanQuestions about HAFN
Is HAFN undervalued right now?
By the GLS models, yes: at 10.11 the stock is 57% below the average fair value of 23.59 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of HAFN and what does it mean?
HAFN scores 84 out of 100 (Prime). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for HAFN?
23.59 per share as of 16 Oct 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Hafnia Limited report earnings next?
The next earnings report is due on 18 Nov 2026 (before the open), 33 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does HAFN have listed options, and how liquid are they?
Yes. The nightly snapshot found 68 listed contracts with 15,610 open interest across all expiries and implied volatility of 42% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.