Hafnia (HAFN) Cost of Revenue (2023 - 2025)
Hafnia (HAFN) posted quarterly Cost of Revenue of $72.1 million for Q4 2025, up 4.35% year-over-year from $69.1 million in Q4 2024, and down 1.48% quarter-over-quarter from $73.2 million in Q3 2025.
Hafnia (HAFN) Cost of Revenue (2023 - 2025) Analysis & Trends
Hafnia (HAFN) has reported Cost of Revenue for 3 consecutive years, with $72.1 million the latest figure, recorded in Q4 2025.
- In Q4 2025, Cost of Revenue rose 4.35% year-over-year to $72.1 million; the TTM figure through Dec 2025 stood at $282.1 million (up 1.47% YoY), while the FY2025 annual figure was $282.1 million, up 1.47% from the prior year.
- Cost of Revenue declined to $72.1 million in Q4 2025 per HAFN's latest filing, from $73.2 million in the prior quarter.
- Across five years, Cost of Revenue topped out at $73.2 million in Q3 2025 and bottomed at $64.7 million in Q1 2023.
- Historically, Cost of Revenue has averaged $69.1 million across 3 years, with a median of $69.1 million in 2024.
- Annual changes were most pronounced in 2024 — Cost of Revenue increased 7.69% — and 2025, when it fell 2.2%.
- Hafnia's Cost of Revenue stood at $67.7 million in 2023, then gained by 2.1% to $69.1 million in 2024, then climbed by 4.35% to $72.1 million in 2025.
- Business Quant data shows HAFN's Cost of Revenue at $72.1 million in Q4 2025, $73.2 million in Q3 2025, and $68.7 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Kirby | 7.52 Bn | 7.48 Bn | 290.80 Mn | 631.60 Mn |
| 2 | Matson | 6.59 Bn | 6.47 Bn | - | - |
| 3 | Hafnia | 3.92 Bn | 3.81 Bn | 152.41 Mn | 72.13 Mn |
| 4 | ZIM Integrated Shipping Services | 3.47 Bn | 2.54 Bn | 57.20 Mn | 1.03 Bn |
| 5 | Star Bulk Carriers | 3.35 Bn | 2.85 Bn | - | - |
| 6 | Danaos | 2.66 Bn | 1.43 Bn | 217.68 Mn | 56.69 Mn |
| 7 | Okeanis Eco Tankers | 2.43 Bn | 2.21 Bn | 12,231.53 Bn | -12,231.05 Bn |
| 8 | Navios Maritime Partners | 2.41 Bn | 2.00 Bn | 326.09 Mn | 30.92 Mn |
| 9 | Costamare | 1.81 Bn | 1.43 Bn | 185.32 Mn | 15.44 Mn |
| 10 | Sfl | 1.65 Bn | 1.50 Bn | 106.91 Mn | 67.58 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 72.13 Mn |
| Dec 31, 2025 | 72.13 Mn |
| Sep 30, 2025 | 73.22 Mn |
| Sep 30, 2025 | 73.22 Mn |
| Jun 30, 2025 | 68.68 Mn |
| Jun 30, 2025 | 68.68 Mn |
| Mar 31, 2025 | 68.10 Mn |
| Mar 31, 2025 | 68.10 Mn |
| Dec 31, 2024 | 69.13 Mn |
| Dec 31, 2024 | 69.13 Mn |
| Sep 30, 2024 | 70.22 Mn |
| Sep 30, 2024 | 70.22 Mn |
| Jun 30, 2024 | 69.06 Mn |
| Jun 30, 2024 | 69.06 Mn |
| Mar 31, 2024 | 69.63 Mn |
| Mar 31, 2024 | 69.63 Mn |
| Dec 31, 2023 | 67.70 Mn |
| Dec 31, 2023 | 67.70 Mn |
| Sep 30, 2023 | 71.02 Mn |
| Sep 30, 2023 | 71.02 Mn |