Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
HafniaOSTO:HAFNIAO +1.72%81 Piotroski F-Score is 7 as of Aug. 31, 2026, which is 17% above its 10-year median of 6.00. GuruFocus rates OSTO:HAFNIAO with a GF Score™ of 81/100 and a GF Value™ of kr54.27 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 986 Transportation companies, Hafnia ranks better than 87.22% on this metric.
Good Sign:
Piotroski F-Score is 7, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Hafnia has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Hafnia's Piotroski F-Score or its related term are showing as below:
OSTO:HAFNIAo'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 6 Max: 8
Current: 7
During the past 11 years, the highest Piotroski F-Score of Hafnia was 8. The lowest was 2. And the median was 6.
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Hafnia Piotroski F-Score Related Terms
Hafnia Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Hafnia's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Marine Shipping subindustry, Hafnia's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Hafnia Piotroski F-Score vs Transportation Industry
For the Transportation industry and Industrials sector, Hafnia's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Hafnia's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Jun26) TTM:
Last Year (Jun25) TTM:
Net Income was 909.823 + 1108.262 + 1735.94 + 2662.103 = kr6,416 Mil. Cash Flow from Operations was 1174.708 + 1614.143 + 1233.249 + 2856.335 = kr6,878 Mil. Revenue was 5835.426 + 5993.008 + 6483.065 + 7817.365 = kr26,129 Mil. Gross Profit was 1130.719 + 1302.213 + 1538.596 + 2417.064 = kr6,389 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(36889.709 + 35498.299 + 38526.452 + 38914.741 + 37983.494) / 5 = kr37562.539 Mil. Total Assets at the begining of this year (Jun25) was kr36,890 Mil. Long-Term Debt & Capital Lease Obligation was kr6,266 Mil. Total Current Assets was kr10,467 Mil. Total Current Liabilities was kr6,324 Mil.
Net Income was 2290.604 + 893.503 + 674.755 + 757.26 = kr4,616 Mil.
Revenue was 7645.415 + 5978.914 + 5850.693 + 5570.311 = kr25,045 Mil. Gross Profit was 2360.905 + 1122.904 + 986.666 + 1037.798 = kr5,508 Mil.
Average Total Assets from the begining of last year (Jun24)
to the end of last year (Jun25) was
(41641.518 + 40672.979 + 41541.175 + 39471.251 + 36889.709) / 5 = kr40043.3264 Mil. Total Assets at the begining of last year (Jun24) was kr41,642 Mil. Long-Term Debt & Capital Lease Obligation was kr6,343 Mil. Total Current Assets was kr8,950 Mil. Total Current Liabilities was kr7,423 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Hafnia's current Net Income (TTM) was 6,416.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Hafnia's current ratio of this year was 1.65519376. Hafnia's current ratio of last year was 1.20585061.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Hafnia's number of shares in issue this year was 506.03. Hafnia's number of shares in issue last year was 503.985.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Hafnia's gross margin of this year was 0.24450324. Hafnia's gross margin of last year was 0.21993211.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Hafnia's asset turnover of this year was 0.70829683. Hafnia's asset turnover of last year was 0.60145101.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
=
Que. 1
+
Que. 2
+
Que. 3
+
Que. 4
+
Que. 5
+
Que. 6
+
Que. 7
+
Que. 8
+
Que. 9
=
1
+
1
+
1
+
1
+
0
+
1
+
0
+
1
+
1
=
7
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Hafnia has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Hafnia (OSTO:HAFNIAO) has a Piotroski F-Score of 7 as of Aug. 31, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Hafnia and its competitors. This is 17% above median its historical median of 6.00. Over the past decade, Hafnia's Piotroski F-Score has ranged from 2.00 to 8.00. According to the industry distribution chart, Hafnia ranks #126 out of 986 companies in the Transportation industry, placing it in the top 12.8%.
Is Hafnia's Piotroski F-Score too high?
Hafnia's current Piotroski F-Score of 7 is 17% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 8.00. The Transportation industry median Piotroski F-Score is 6.00. Hafnia's value of 7 is 16.7% above this industry median. Based on the distribution chart, Hafnia ranks #126 out of 986 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, Hafnia has a GF Score™ of 81/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hafnia's Piotroski F-Score compare to competitors?
According to the Transportation industry distribution chart, Hafnia ranks #126 out of 986 companies for Piotroski F-Score. This places Hafnia in the top 13% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 6.00. Hafnia's value of 7 is 16.7% above this benchmark. Historically, Hafnia's own Piotroski F-Score has ranged from 2.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 6.00, Hafnia has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Transportation company?
The median Piotroski F-Score among Transportation companies is 6.00, based on 986 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Hafnia's current Piotroski F-Score of 7 is 16.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Hafnia and its competitors. For the Transportation industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hafnia's current Piotroski F-Score is 7, which is 17% above median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hafnia stock overvalued right now?
Based on GuruFocus' analysis, Hafnia (OSTO:HAFNIAO) is currently considered Significantly Overvalued. The stock's GF Value™ is kr54.27, compared to a current price of kr76.90 — trading 41.7% above its estimated fair value. The current Piotroski F-Score is 7, which is 17% above median its 10-year median of 6.00 and 16.7% above the Transportation industry median of 6.00. Hafnia's overall GF Score™ is 81/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Hafnia (OSTO:HAFNIAO), the current Piotroski F-Score is 7 as of Aug. 31, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Hafnia (OSTO:HAFNIAO) Overvalued in 2026?
Based on GuruFocus' analysis, Hafnia stock appears to be overvalued.
The current stock price of kr76.90 is trading 41.7% above its estimated GF Value™ of kr54.27.
GuruFocus considers Hafnia to be Significantly Overvalued.
Key valuation signals for OSTO:HAFNIAO:
Piotroski F-Score: 7 (17% above median its 10-year median of 6.00)
GF Value™: kr54.27 vs. price of kr76.90 (41.7% above fair value)
Industry Position: 16.7% above the Transportation median (#126 of 986)
No single metric tells the full story. See the OSTO:HAFNIAO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hafnia Ltd is one of the tanker owners, transporting oil, oil products and chemicals for national and international oil companies, chemical companies, as well as trading and utility companies. As owners and operators of around 200 vessels, It offers a fully integrated shipping platform, including technical management, commercial and chartering services, pool management, and a large-scale bunker procurement desk. Company manages it's business through the following reporting segments: LR2 tankers, LR1 tankers, MR tankers, Handy tankers.
81GF Score
Get the complete analysis for OSTO:HAFNIAO
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
OSTO:HAFNIAO has been successfully added to your 
