Hafnia vs Kirby
Kirby is the larger business, with $3.36bn of revenue in fiscal 2025 against $2.28bn for Hafnia (1.5 times as much). Kirby grew faster (3.0% against -20.5%). Hafnia kept more of each dollar of sales as profit: a net margin of 14.9% against 10.5%. Kirby carries less debt relative to equity (27.3% against 48.2%).
| Latest fiscal year | HafniaHAFN, 2025 | KirbyKEX, 2025 |
|---|---|---|
| Revenue | $2.28bn | $3.36bn |
| Revenue growth | -20.5% | 3.0% |
| Net income | $340m | $355m |
| Operating margin | 16.2% | 14.8% |
| Net margin | 14.9% | 10.5% |
| Return on equity | 14.8% | 10.5% |
| Free cash flow | $457m | $406m |
| Cash | $193m | $78.8m |
| Total debt | $1.12bn | $922m |
| Debt to equity | 48.2% | 27.3% |
| Dividend per share | — | — |
| Dividend yield | 3.9% | — |
| Share buybacks | — | $354m |
| Employees | — | 5,233 |
| Market value | $5.14bn | $7.55bn |
| Price vs our value range | Below our value range | Within our value range |
| Moat score | — | 39 (Weak) |
| Insider trades, 12 months | 0 buys, 3 sales | 0 buys, 18 sales |