Hafnia Limited (HAFN) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 127.68M | 146.23M | 118.14M | 187.68M | 137.36M | 197.14M | 284.05M | 300.65M | 248.52M | 198.94M | 333.52M | 185.47M | 354.03M | 326.26M | 248M | 126.37M | 28.82M | 20.28M | 12.88M |
| Operating CF Margin % | 19.02% | 24.65% | 20.13% | 33.87% | 25.07% | 37% | 39.47% | 36.17% | 31.66% | 17.08% | 51.25% | 26.46% | 59.29% | 56.73% | 47.48% | 27.02% | 10.78% | 8.3% | 6.8% |
| Operating CF Growth % | -7.04% | -25.83% | -58.41% | -37.58% | -44.73% | -0.91% | -14.83% | 62.11% | -29.8% | -39.02% | 34.48% | 46.76% | 1128.58% | 1509% | 1825.19% | - | - | - | - |
| Net Income | 179.73M | 109.71M | 91.5M | 75.33M | 63.19M | 79.63M | 215.63M | 259.2M | 219.57M | 176.44M | 146.94M | 213.27M | 256.63M | 263.8M | 280.28M | 186.2M | 21.31M | -7.9M | -20.74M |
| Depreciation & Amortization | 48.07M | 49.36M | 52.08M | 51.08M | 49.63M | 52.51M | 53.62M | 54.85M | 54.13M | 53.71M | 53.46M | 51.87M | 51.99M | 53.65M | 53.61M | 52.97M | 48.98M | 39.28M | 37.67M |
| Stock-Based Compensation | 802K | 0 | 849K | 843K | 664K | 521K | 775K | 1.1M | 559K | 680K | 676K | 652K | 814K | 451K | 452K | 464K | 393K | 619K | 618K |
| Deferred Taxes | 788K | 0 | 699K | 2.66M | 1.42M | -61K | 1.16M | 1.57M | 1.74M | 0 | 932K | 1.51M | 1.92M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -27.86M | -18.66M | 5.35M | 3.66M | 10.02M | -43K | -14.43M | 559K | 3.16M | 5.21M | 18.95M | -6.76M | -15.79M | 17.55M | -8.33M | 15.71M | 16.23M | 12.48M | 12.8M |
| Working Capital Changes | -73.84M | 5.82M | -32.34M | 54.1M | 12.43M | 64.58M | 27.29M | -16.62M | -30.64M | -37.09M | 112.56M | -75.08M | 58.45M | -9.18M | -78.01M | -128.97M | -58.11M | -24.21M | -17.47M |
| Change in Receivables | -133.44M | -28.31M | -29.46M | 59.09M | -17.69M | 65.08M | 52.35M | -22.1M | -9.19M | -55.65M | 137.3M | 105.16M | -277.5M | -50.03M | -8.02M | -200.57M | -61.32M | -29.7M | -10.29M |
| Change in Inventory | -16.66M | 9.24M | 4.07M | 9.98M | 1.87M | 12.08M | 1.46M | 6.54M | -717K | -18.83M | -6.37M | 8.97M | -20.11M | -50K | 1.58M | 324K | -2.12M | 294K | -1.15M |
| Change in Payables | 0 | 18.04M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | 111.47M | -300.53M | -14.06M | -32.35M | -28.36M | 17.57M | 18.85M | 7.64M | -14.18M | -92.29M | -40.47M | -41.62M | 96.9M | 37.86M | 175.07M | -192.55M | -211.27M | 2.33M | -48.21M |
| Capital Expenditures | -20.79M | -33.15M | -44M | -41.02M | -27.32M | -13.23M | -7.7M | -13.41M | -15.37M | -46.07M | -42.55M | -93.85M | -2.06M | -3.19M | -10.63M | -213.77M | -219.55M | -3.78M | -4.02M |
| CapEx % of Revenue | 3.1% | 5.59% | 7.5% | 7.4% | 4.99% | 2.48% | 1.07% | 1.61% | 1.96% | 3.96% | 6.54% | 13.39% | 0.34% | 0.56% | 2.03% | 45.7% | 82.13% | 1.55% | 2.12% |
| Acquisitions | 0 | 58.93M | 1M | -25K | 0 | 0 | -2.22M | 1.36M | 0 | -2.18M | -57K | 0 | 0 | 16.73M | -843K | 0 | 2.38M | -1.68M | -8.53M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 132.16M | 0 | 28.94M | 8.7M | -1.04M | 31M | 28.77M | 20M | -805K | -44.04M | 12.14M | 52.39M | 99.21M | 24.33M | 186.59M | 21.23M | 6.16M | 8.29M | -35.65M |
| Cash from Financing | -196.47M | 141.06M | -210.8M | -110.18M | -124.41M | -219.52M | -277.11M | -262.34M | -240.24M | -114.82M | -409.58M | -201.19M | -361.34M | -341.17M | -359.07M | 79.68M | 156.37M | 2.02M | 24.82M |
| Debt Issued (Net) | -104.02M | 308.75M | -133.12M | -48.85M | -67.02M | 28.68M | -57.63M | -71.76M | -99.62M | -405.82M | -267.19M | -24.25M | -172.06M | -349.03M | -160.66M | 81.73M | 201.92M | -19.31M | 43.65M |
| Equity Issued (Net) | 8.01M | 434.31K | 379.79K | 1.03M | -27.66M | 0 | 0 | 111K | 0 | -8.93M | 21K | 334K | 8.58M | 0 | 0 | 97.6M | 0 | 0 | 0 |
| Dividends Paid | -88.05M | -73.51M | -60.26M | -50.55M | -14.63M | -193.36M | -207.33M | -175.67M | -123.52M | -102.87M | -128M | -154.06M | -159.2M | -140.15M | -93.1M | -10.5M | 0 | 0 | 0 |
| Share Repurchases | 0 | 434.31K | 379.79K | 1.03M | -27.66M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -12.41M | -94.62M | -17.8M | -11.82M | -15.09M | -54.83M | -12.15M | -14.91M | -17.1M | 402.81M | -14.4M | -23.23M | -38.66M | 148.01M | -105.31M | -89.16M | -45.55M | 21.33M | -18.83M |
| Net Change in Cash | 42.69M | -13.84M | -106.72M | 45.16M | -15.41M | -4.81M | 25.79M | 45.96M | -5.9M | 97.71M | -116.53M | -57.35M | 89.59M | 22.95M | 64M | 13.5M | -26.09M | 24.62M | -10.5M |
| Free Cash Flow | 106.9M | 113.08M | 74.14M | 146.66M | 110.04M | 183.91M | 276.35M | 287.25M | 233.13M | 152.87M | 290.97M | 91.62M | 351.97M | 322.94M | 237.3M | -87.41M | -190.75M | 16.44M | 8.78M |
| FCF Margin % | 15.93% | 19.06% | 12.63% | 26.47% | 20.08% | 34.51% | 38.4% | 34.56% | 29.7% | 13.12% | 44.71% | 13.07% | 58.95% | 56.16% | 45.43% | -18.69% | -71.36% | 6.73% | 4.63% |
| FCF Growth % | -2.85% | -38.51% | -73.17% | -48.94% | -52.8% | 20.3% | -5.02% | 213.53% | -33.76% | -52.66% | 22.62% | 204.81% | 284.52% | 1864.32% | 2603.3% | - | - | - | - |
| FCF per Share | 0.21 | 0.22 | 0.15 | 0.29 | 0.22 | 0.36 | 0.54 | 0.56 | 0.46 | 0.30 | 0.57 | 0.18 | 0.69 | 0.66 | 0.49 | -0.19 | -0.44 | 0.05 | 0.02 |
| FCF Conversion (FCF/Net Income) | 0.71x | 1.33x | 1.29x | 2.49x | 2.17x | 2.48x | 1.32x | 1.16x | 1.13x | 1.13x | 2.27x | 0.87x | 1.38x | 1.24x | 0.88x | 0.68x | 1.35x | -2.57x | -0.62x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 4.28M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |