Hafnia (HAFN) Operating Expenses (2023 - 2025)
Hafnia (HAFN) reported Operating Expenses of -$24.5 million for Q4 2025, down 126.95% year-over-year from $90.9 million in Q4 2024, and up 15.37% quarter-over-quarter from -$28.9 million in Q3 2025.
Hafnia (HAFN) Operating Expenses (2023 - 2025) Analysis & Trends
Hafnia (HAFN) has 3 years of Operating Expenses data on file, last reported at -$24.5 million in Q4 2025.
- Operating Expenses for Q4 2025 came in at -$24.5 million, down 126.95% year-over-year; the trailing twelve-month figure through Dec 2025 was -$24.5 million (down 126.95% YoY), and the FY2025 annual result was -$24.5 million, down 126.95% from the prior year.
- Operating Expenses grew to -$24.5 million in Q4 2025 per HAFN's latest filing, from -$28.9 million in the prior quarter.
- Over five years, Operating Expenses peaked at $36.9 million in Q1 2023 and troughed at -$53.1 million in Q3 2023.
- A 3-year average of -$18.1 million and a median of -$16.0 million in 2023 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2024 and 2025: Operating Expenses soared 84.68% in 2024, then plunged 255.6% in 2025.
- A 3-year view of Operating Expenses shows it stood at -$10.9 million in 2023, then increased by 0.61% to -$10.8 million in 2024, then slumped by 126.95% to -$24.5 million in 2025.
- Business Quant data shows HAFN's Operating Expenses at -$24.5 million in Q4 2025, -$28.9 million in Q3 2025, and -$21.2 million in Q2 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | C3is | 744.65 Bn | 744.65 Bn | 9.11 Mn | 6.31 Mn |
| 2 | Kirby | 7.86 Bn | 7.78 Bn | 291.34 Mn | 722.10 Mn |
| 3 | Matson | 5.69 Bn | 5.59 Bn | - | 696.40 Mn |
| 4 | Hafnia | 3.63 Bn | 3.52 Bn | 152.41 Mn | -24.49 Mn |
| 5 | Star Bulk Carriers | 3.14 Bn | 3.13 Bn | 371.22 Mn | 223.85 Mn |
| 6 | ZIM Integrated Shipping Services | 3.12 Bn | 1.01 Bn | 57.20 Mn | -403.80 Mn |
| 7 | Costamare | 1.93 Bn | 1.42 Bn | - | -42.16 Mn |
| 8 | Navios Maritime Partners | 1.87 Bn | 1.47 Bn | 262.01 Mn | -23.83 Mn |
| 9 | Global Ship Lease | 1.37 Bn | 1.37 Bn | - | 8.85 Mn |
| 10 | Capital Clean Energy Carriers | 1.33 Bn | 792.93 Mn | 78.44 Mn | 3.47 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -24.49 Mn |
| Sep 30, 2025 | -28.94 Mn |
| Jun 30, 2025 | -21.24 Mn |
| Mar 31, 2025 | -2.75 Mn |
| Dec 31, 2024 | -10.79 Mn |
| Sep 30, 2024 | -8.14 Mn |
| Jun 30, 2024 | -39.31 Mn |
| Mar 31, 2024 | -2.65 Mn |
| Dec 31, 2023 | -10.86 Mn |
| Sep 30, 2023 | -53.14 Mn |
| Jun 30, 2023 | -51.55 Mn |
| Mar 31, 2023 | 36.94 Mn |