Okeanis Eco Tankers Corp. (ECO) vs Hafnia Limited (HAFN)

Okeanis Eco Tankers Corp. and Hafnia Limited are both Marine Shipping companies. Hafnia Limited is the larger, with a market value of $4.4B against $3.0B — 1.5× the size. Hafnia Limited trades at the lower P/E: 6.8× against 7.3×. Okeanis Eco Tankers Corp. grew revenue faster over the last twelve months: 105.2% against 13.3%. Okeanis Eco Tankers Corp. has the higher net margin (56.9% vs 24.7%) and the higher return on invested capital (20.3% vs 13.3%). Across the 20 metrics below, Hafnia Limited leads on 11 and Okeanis Eco Tankers Corp. on 9.

Valuation

Metric ECO HAFN Marine Shipping median
P/E 7.27 6.76 6.89
P/S 4.31 1.67 1.92
P/B 3.47 1.68 0.90
Price to free cash flow 72.08 4.73 4.62
EV/EBITDA 7.24 5.72 6.57
EV/Sales 4.98 1.87 2.73
Earnings yield 13.76% 14.80% 9.59%
Free cash flow yield 1.39% 21.14% 16.76%

Profitability

Metric ECO HAFN Marine Shipping median
Gross margin 72.33% 33.19% 60.61%
Operating margin 62.34% 25.26% 27.74%
Net margin 56.92% 24.70% 25.21%
Free cash flow margin 5.97% 35.30% 17.29%
Return on equity 61.59% 26.61% 8.62%
Return on assets 29.44% 17.26% 5.35%
Return on invested capital 20.29% 13.25% 5.32%

Growth

Metric ECO HAFN Marine Shipping median
Revenue growth (TTM) 105.24% 13.26% 13.26%
EPS growth (last fiscal year) 11.54% (55.33%) —
Revenue growth, 5-year CAGR — — 11.77%
Net income growth, 5-year CAGR — — 0.00%

Health

Metric ECO HAFN Marine Shipping median
Debt to equity 0.82 0.33 0.52
Current ratio 4.43 1.66 1.63
Net debt to EBITDA 2.38 1.62 2.34

Dividend

Metric ECO HAFN Marine Shipping median
Dividend yield 15.38% — 5.54%
Payout ratio — — 0.13

Size

Metric ECO HAFN Marine Shipping median
Market cap 2.97b 4.36b 420.73m

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