Hafnia Limited (HAFN) Revenue History
Annual and quarterly revenue from 2016 to present
HAFN Revenue Over Time (2016–2025)
HAFN Revenue Growth History
7 of 9 years with positive growth- FY2016 revenue growth
- N/A
- FY2017 revenue growth
- +14.6%
- FY2018 revenue growth
- +6.3%
- FY2019 revenue growth
- +124.7%
- FY2020 revenue growth
- +5.6%
- FY2021 revenue growth
- -7.2%
- FY2022 revenue growth
- +137.5%
- FY2023 revenue growth
- +38.7%
- FY2024 revenue growth
- +7.4%
- FY2025 revenue growth
- -18.1%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $671.2M | +22.5% |
| Q4 2025 | $593.2M | +11.3% |
| Q3 2025 | $586.9M | -18.5% |
| Q2 2025 | $554.2M | -33.3% |
| Q1 2025 | $547.9M | -30.2% |
| Q4 2024 | $532.9M | -54.3% |
| Q3 2024 | $719.7M | +10.6% |
| Q2 2024 | $831.2M | +18.6% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
HAFN's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
HAFN Revenue Analysis (2016–2025)
Current Revenue & Growth
As of June 24, 2026, Hafnia Limited (HAFN) generated trailing twelve-month (TTM) revenue of $2.41 billion, reflecting exceptional growth of +22.5% year-over-year. The most recent quarter (Q1 2026) recorded $671.2 million in revenue, up 13.1% sequentially.
Historical Growth Trajectory
HAFN's 5-year compound annual growth rate (CAGR) stands at +21.9%, indicating outstanding long-term growth trajectory. The 3-year CAGR of +6.8% is below the 5-year average, signalling a growth deceleration in recent years. Hafnia Limited's highest annual revenue of $2.87 billion was recorded in 2024.
Revenue by Segment
HAFN's revenue is primarily driven by Non lease component (100%). With over half of revenue concentrated in Non lease component, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Industrials sector peers — including STNG (-2.8% YoY), TRMD (-2.4% YoY), and INSW (+14.5% YoY) — HAFN has outperformed the peer group in revenue growth. Compare HAFN vs STNG →
HAFN Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| HAFNCurrent | $2.4B | +22.5% | +21.9% | 14.3% | |
 STNG | $938M | -2.8% | +0.5% | 33.0% | |
 TRMD | $1.4B | -2.4% | +13.2% | 25.6% | |
 INSW | $843M | +14.5% | +14.9% | 36.3% | |
 ASC | $310M | -13.2% | +7.1% | 26.1% | |
 FRO | $2.0B | +18.5% | +10.0% | 30.2% |
HAFN Historical Revenue Data (2016–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $2.35B | -18.1% | $423.2M | 18.0% | $335.8M | 14.3% |
| 2024 | $2.87B | +7.4% | $849.6M | 29.6% | $805.7M | 28.1% |
| 2023 | $2.67B | +38.7% | $852.1M | 31.9% | $857.9M | 32.1% |
| 2022 | $1.93B | +137.5% | $840.4M | 43.6% | $823.2M | 42.7% |
| 2021 | $811.2M | -7.2% | $187.6M | 23.1% | $-4,857,000 | -0.6% |
| 2020 | $874.1M | +5.6% | $239.1M | 27.4% | $193.6M | 22.1% |
| 2019 | $827.9M | +124.7% | $181.3M | 21.9% | $145.6M | 17.6% |
| 2018 | $368.4M | +6.3% | $42.3M | 11.5% | $12.2M | 3.3% |
| 2017 | $346.5M | +14.6% | $28.2M | 8.2% | $29.9M | 8.6% |
| 2016 | $302.3M | - | $27.6M | 9.1% | $-166,387,000 | -55.0% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
10+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
HAFN — Frequently Asked Questions
Quick answers to the most common questions about buying HAFN stock.
Is HAFN's revenue growth accelerating or slowing?
HAFN revenue growth is accelerating. TTM revenue reached $2.4B, up +22.5% year-over-year — ahead of the 5-year CAGR of +21.9%. This indicates the business is expanding faster than its historical baseline.
What is HAFN's revenue history from 2016 to 2026?
Hafnia Limited (HAFN) revenue history spans 2016 to 2026. TTM revenue as of 2026 is $2.4B, growing at +22.5% YoY. The 5-year CAGR is +21.9%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is HAFN's long-term revenue growth rate (CAGR)?
Hafnia Limited's 5-year revenue CAGR of +21.9% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +22.5% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for HAFN.
Why does HAFN's quarterly revenue fluctuate?
HAFN quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Hafnia Limited's revenue data from 2016 to 2026 shows full historical quarterly detail on this page.
How is HAFN's revenue distributed by segment?
HAFN reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does HAFN's revenue compare to industry peers?
Hafnia Limited (HAFN) with TTM revenue of $2.4B and +22.5% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.