Hafnia (HAFN) Operating Expenses (2023 - 2025)
Hafnia (HAFN) posted quarterly Operating Expenses of -$49.2 million for Q4 2025, up 6.05% year-over-year from -$46.4 million in Q4 2024, and up 5.27% quarter-over-quarter from -$52.0 million in Q3 2025.
Hafnia (HAFN) Operating Expenses (2023 - 2025) Analysis & Trends
Hafnia (HAFN) has reported Operating Expenses for 3 consecutive years, with -$49.2 million the latest figure, recorded in Q4 2025.
- In Q4 2025, Operating Expenses rose 6.05% year-over-year to -$49.2 million; the TTM figure through Dec 2025 stood at -$201.7 million (up 12.68% YoY), while the FY2025 annual figure was -$201.7 million, up 5.88% from the prior year.
- Operating Expenses improved to -$49.2 million in Q4 2025 per HAFN's latest filing, from -$52.0 million in the prior quarter.
- Across five years, Operating Expenses topped out at -$49.2 million in Q4 2025 and bottomed at -$70.5 million in Q1 2024.
- Historically, Operating Expenses has averaged -$54.8 million across 3 years, with a median of -$52.8 million in 2023.
- Annual changes were most pronounced in 2024 — Operating Expenses slipped 6.19% — and 2025, when it rose 29.74%.
- Hafnia's Operating Expenses stood at -$53.4 million in 2023, then advanced by 1.84% to -$52.4 million in 2024, then climbed by 6.05% to -$49.2 million in 2025.
- Business Quant data shows HAFN's Operating Expenses at -$49.2 million in Q4 2025, -$52.0 million in Q3 2025, and -$51.0 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Kirby | 7.52 Bn | 7.48 Bn | 290.80 Mn | 800.04 Mn |
| 2 | Matson | 6.59 Bn | 6.47 Bn | - | 810.50 Mn |
| 3 | Hafnia | 3.92 Bn | 3.81 Bn | 152.41 Mn | -49.23 Mn |
| 4 | ZIM Integrated Shipping Services | 3.47 Bn | 2.54 Bn | 57.20 Mn | -403.80 Mn |
| 5 | Star Bulk Carriers | 3.35 Bn | 2.85 Bn | - | - |
| 6 | Danaos | 2.66 Bn | 1.43 Bn | 217.68 Mn | -56.64 Mn |
| 7 | Okeanis Eco Tankers | 2.43 Bn | 2.21 Bn | 12,231.53 Bn | 72,107.52 Bn |
| 8 | Navios Maritime Partners | 2.41 Bn | 2.00 Bn | 326.09 Mn | -23.83 Mn |
| 9 | Costamare | 1.81 Bn | 1.43 Bn | 185.32 Mn | -41.93 Mn |
| 10 | Sfl | 1.65 Bn | 1.50 Bn | 106.91 Mn | 129.63 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -49.23 Mn |
| Sep 30, 2025 | -51.97 Mn |
| Jun 30, 2025 | -50.98 Mn |
| Mar 31, 2025 | -49.53 Mn |
| Dec 31, 2024 | -52.40 Mn |
| Sep 30, 2024 | -53.52 Mn |
| Jun 30, 2024 | -54.60 Mn |
| Mar 31, 2024 | -70.49 Mn |
| Dec 31, 2023 | -53.39 Mn |
| Sep 30, 2023 | -53.14 Mn |
| Jun 30, 2023 | -51.55 Mn |
| Mar 31, 2023 | -66.38 Mn |