Hafnia Limited (HAFN) vs SFL Corporation Ltd. (SFL)

Hafnia Limited and SFL Corporation Ltd. are both Marine Shipping companies. Hafnia Limited is the larger, with a market value of $4.4B against $2.0B — 2.2× the size. Hafnia Limited trades at the lower P/E: 6.8× against 26.6×. Hafnia Limited grew revenue faster over the last twelve months: 13.3% against −15.6%. Hafnia Limited has the higher net margin (24.7% vs 8.76%) and the higher return on invested capital (13.3% vs 3.83%). Across the 20 metrics below, Hafnia Limited leads on 14 and SFL Corporation Ltd. on 6.

Valuation

Metric HAFN SFL Marine Shipping median
P/E 6.76 26.63 6.89
P/S 1.67 2.36 1.92
P/B 1.68 1.66 0.90
Price to free cash flow 4.73 3.78 4.62
EV/EBITDA 5.72 9.24 6.57
EV/Sales 1.87 5.47 2.73
Earnings yield 14.80% 3.76% 9.59%
Free cash flow yield 21.14% 26.49% 16.76%

Profitability

Metric HAFN SFL Marine Shipping median
Gross margin 33.19% 61.42% 60.61%
Operating margin 25.26% 27.73% 27.74%
Net margin 24.70% 8.76% 25.21%
Free cash flow margin 35.30% 62.49% 17.29%
Return on equity 26.61% 6.25% 8.62%
Return on assets 17.26% 1.71% 5.35%
Return on invested capital 13.25% 3.83% 5.32%

Growth

Metric HAFN SFL Marine Shipping median
Revenue growth (TTM) 13.26% (15.61%) 13.26%
EPS growth (last fiscal year) (55.33%) (119.80%) —
Revenue growth, 5-year CAGR — 9.25% 11.77%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric HAFN SFL Marine Shipping median
Debt to equity 0.33 2.30 0.52
Current ratio 1.66 0.38 1.63
Net debt to EBITDA 1.62 6.35 2.34

Dividend

Metric HAFN SFL Marine Shipping median
Dividend yield — 8.19% 5.54%
Payout ratio — 1.02 0.13

Size

Metric HAFN SFL Marine Shipping median
Market cap 4.36b 1.95b 420.73m

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