Hafnia Ltd (HAFN) is undervalued and Matson Inc (MATX) is fairly valued.
Against our estimates of intrinsic value, HAFN trades at the wider discount: a margin of safety of +69%, against -3% for MATX.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 7.3% (average of 3 methods) values the shares at $30.21; the price of $9.23 is 69% below that value, and 83% of that value comes from beyond year five.
Leak Score 100/100 on 3 of 12 signals
Discounting its cash flows at 10.8% (average of 3 methods) values the shares at $221.12; the price of $226.78 is 3% above that value, and 70% of that value comes from beyond year five.
Leak Score 59/100 on 3 of 12 signals
| Metric | HAFN | MATX |
|---|---|---|
| Verdict | Undervalued | Fairly valued |
| Price | $9.23 | $226.78 |
| Intrinsic value | $30.21 | $221.12 |
| Margin of safety | +69% | -3% |
| Leak Score | 100/100 (3/12) | 59/100 (3/12) |
| Market cap | $4.6B | $6.8B |
| Revenue growth, 5 years | 21.2% | 7.0% |
| Operating margin | 20.2% | 14.4% |
| Net margin | 24.7% | 13.4% |
| Return on equity | 26.6% | 17.2% |
| Debt to equity | 0.33 | 0.12 |
| P/E | 7.1x | 15.2x |
| Forward P/E | 9.9x | 13.5x |
| P/B | 1.7x | 2.5x |
| Dividend yield | 15.2% | 0.6% |