HAFN vs STNG: Which Is the Better Buy in 2026?
Last updated August 2026
Short answer
HAFN and STNG are similarly sized, but HAFN trades noticeably cheaper on forward earnings (11.31x vs 13.11x): the market is paying up for STNG's profile and pricing HAFN more conservatively, or for faster growth. Which you prefer comes down to the drivers you believe, and whether adding either over-concentrates what you already own.
HAFN vs STNG: the tie-breaker metrics
Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.
| Metric | HAFN | STNG | What it tells you |
|---|---|---|---|
| Market cap | $3.84B | $3.90B | Size. The larger name is the incumbent; the smaller has more room to grow and more to prove. |
| Forward P/E | 11.31 | 13.11 | Valuation on next year's expected earnings, the same yardstick for both. Lower is cheaper for that growth; higher means the market is paying up. |
| Trailing P/E | 8.54 | 4.85 | Valuation on the last 12 months. A big drop from trailing to forward means the market expects earnings to jump, so more growth is already in the price. |
| Beta | -0.17 | -0.25 | Volatility vs the market. Above 1 swings harder than the index; below 1 is steadier. Higher beta means bigger drawdowns to hold through. |
| Price vs 52-week range | 58% of range | 78% of range | Where today's price sits between the 52-week low and high. Near the high is momentum with less margin of safety; near the low is out of favor or a discount, depending on why. |
| Price / book | 1.51 | 1.15 | How much you pay over book value. Very high can signal an asset-light, high-return business or a rich price. |
Reading it: HAFN is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.
Before you buy: how HAFN and STNG affect your concentration
The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. HAFN and STNG share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.
This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined HAFN and STNG exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.
What does Hafnia Limited (HAFN) do?
Hafnia Limited is a Bermuda-incorporated, Singapore-headquartered shipping company that owns and operates one of the largest fleets of product and chemical tankers in the world, with roughly 120 owned vessels and a broader commercially managed platform of around 200 ships. These tankers carry refined petroleum products (gasoline, diesel, jet fuel, naphtha) as well as vegetable oils and easy chemicals, across vessel classes such as LR2, LR1, MR, and Handy. Beyond owning ships, Hafnia runs an integrated shipping services business that includes technical management, commercial chartering, tanker pool management for third-party owners, and a large-scale bunker (marine fuel) procurement desk, which adds fee-based revenue on top of its own fleet earnings.
What does Scorpio Tankers Inc (STNG) do?
Scorpio Tankers Inc is one of the world's largest owners and operators of product tankers, the ships that carry refined petroleum products such as gasoline, diesel, jet fuel, and naphtha (as opposed to crude oil). Its fleet spans LR2, MR, and Handymax vessels, and in 2026 numbered in the low 80s of ships as the company sold selected older tankers. The economics are straightforward but volatile: most vessels earn money in the spot and pool markets, where daily time-charter-equivalent (TCE) rates move with global refined-product demand, trade routes, refinery locations, and fleet supply. When those rates are high, a large fleet like Scorpio's generates enormous cash flow because much of a ship's cost is fixed; when rates fall, that same operating leverage cuts the other way.
HAFN vs STNG: how do they differ?
Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.
- HAFN drivers: Tight product tanker supply and demand; High variable dividend payout.
- STNG drivers: Product-tanker spot rates drive everything; Deleveraging and a stronger balance sheet.
Which fits which kind of investor
A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Hafnia's earnings are highly cyclical and depend on product tanker freight rates, which the company does not control and which can swing sharply with global oil demand, refinery patterns, and trade flows. For STNG, the dominant risk is shipping cyclicality: Scorpio's revenue and profits are tied to product-tanker spot rates, which can fall sharply if refined-product demand weakens, trade routes shorten, or a wave of newbuild vessels expands supply.
HAFN or STNG: which should you pick?
HAFN vs STNG: the full fundamentals
HAFN. As of July 2026 HAFN traded near $6.60 per share for a market cap around $3.25 billion, with a low trailing P/E near 7 and a dividend yield around 8%, typical of a cyclical shipping stock priced on peak-ish earnings. FY2025 profit of about $339.7 million was down roughly 56% from 2024 as freight rates normalized, but Q1 2026 net profit jumped to about $179.7 million on a tight market. Reported NAV of roughly $8.09 per share sat above the share price, a common feature of asset-heavy shipping names.
STNG. Figures are approximate and tied to the asOf date, so verify live numbers before acting. For a cyclical shipping company, earnings multiples matter less than where tanker rates sit in the cycle and what the fleet is worth net of debt: a low P/E can simply reflect peak-cycle earnings that may not repeat. Scorpio's deleveraging and capital returns have strengthened the story, but the stock is still fundamentally a bet on product-tanker freight markets. Nothing here is investment advice.
Headline figures (approximate, July 2026): HAFN shows revenue (fy2025, owned vessels) ~$1.42 billion, total operating revenue (fy2025) ~$2.28 billion, net income (fy2025) ~$339.7 million, net income (q1 2026) ~$179.7 million; STNG shows revenue trend Highly cyclical, driven by product-tanker TCE rates; strong in firm markets and can fall quickly when rates soften. Verify live figures before acting., profitability High operating leverage: strong spot rates produce large profits, weak rates compress them fast, so earnings swing widely across the cycle. Verify live figures before acting., balance sheet / leverage Substantially deleveraged versus prior years, with average debt sharply reduced and a large cash position plus undrawn revolvers. Verify live figures before acting., valuation framing Often screened on net asset value (fleet value less debt) and cash flow rather than a simple P/E; a low multiple on peak-cycle earnings can be a trap. Verify live figures before acting..
The bottom line: HAFN vs STNG
HAFN and STNG are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined HAFN and STNG exposure against your real portfolio. It is not an investment adviser.
Wondering how HAFN or STNG fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Hafnia Limited with AI
Connect the broker you already use and ask Walnut's AI how HAFN fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is the difference between HAFN and STNG?
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Hafnia Limited is a Bermuda-incorporated, Singapore-headquartered shipping company that owns and operates one of the largest fleets of product and chemical tankers in the world, with roughly 120 owned vessels and a broader commercially managed platform of around 200 ships. Scorpio Tankers Inc is one of the world's largest owners and operators of product tankers, the ships that carry refined petroleum products such as gasoline, diesel, jet fuel, and naphtha (as opposed to crude oil). They show up together because they share investment themes, but they are different businesses, so the better fit depends on which thesis you are expressing.
Is HAFN or STNG the better stock?
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Neither is universally better; they suit different views and risk levels. Walnut is informational, not investment advice. Compare what each does, the tie-breaker metrics above, and the risks, then decide which fits your thesis and what you already own.
Which is cheaper, HAFN or STNG?
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On forward P/E (as of August 2026), HAFN trades at 11.31x and STNG at 13.11x, so HAFN is the cheaper of the two on next year's expected earnings. A lower multiple is not automatically the better buy: a richer valuation can be justified by faster growth, and a lower one can reflect real risk. Weigh the multiple against how fast each business is compounding.
Should you own both HAFN and STNG?
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Because they share themes, owning both concentrates you in that theme. That can be intentional (a focused bet) or accidental (less diversification than it looks). Walnut can show your combined exposure across both, and whether adding either over-concentrates you, before you buy.
What are the risks of HAFN vs STNG?
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HAFN: Hafnia's earnings are highly cyclical and depend on product tanker freight rates, which the company does not control and which can swing sharply with global oil demand, refinery patterns, and trade flows. FY2025 net profit fell about 56% from the prior year as rates normalized from unusually high 2022-2024 levels, illustrating how quickly results can drop. The dividend is variable and tied to loan-to-value, so it can be cut when rates weaken. Other risks include exposure to geopolitical events that reroute or disrupt trade (such as Red Sea and sanctions dynamics), the cost and timing of fleet renewal, decarbonization regulation that could raise operating costs, and BW Group's controlling ownership stake, which concentrates influence over corporate decisions. STNG: The dominant risk is shipping cyclicality: Scorpio's revenue and profits are tied to product-tanker spot rates, which can fall sharply if refined-product demand weakens, trade routes shorten, or a wave of newbuild vessels expands supply. Because much of the fleet trades in the spot market, earnings and the cash that funds dividends and buybacks can drop quickly. Geopolitics cuts both ways: disruptions can lift rates, but a normalization of trade routes can compress them. Fuel costs, drydocking, regulation, and environmental rules add expense and uncertainty, and newbuild orders create future capital commitments. Even with a stronger balance sheet, this remains a volatile, capital-intensive business whose stock can move sharply with the freight cycle, and past strong rates are no guarantee of future ones.
Walnut is informational, not investment advice. This page is descriptive and not a recommendation to buy or sell HAFN or STNG; figures are approximate and dated (as of August 2026). Verify current data before investing.