Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Havila Shipping ASA is a Norwegian shipping company specializing in offshore service vessels for the oil and gas industry. Headquartered in Fosnavåg, it provides essential maritime support including supply, anchor handling, subsea operations, and rescue recovery services, operating a diverse fleet tailored for harsh offshore environments across regions like the North Sea, Asia Pacific, Norway, the United Kingdom, and beyond. The company manages platform supply vessels for logistics, anchor handling tug supply vessels for towing and positioning, subsea vessels for underwater construction and maintenance, and rescue recovery vessels for oil spill response, fire protection, and emergency operations. Additionally, Havila Shipping ASA supports the renewable energy sector with services such as cable repair, trenching, ploughing, mooring, towing, and equipment transport. Founded in 2003 as a subsidiary of family-owned Havila Holding AS, it employs around 410-430 personnel under CEO Njål Sævik, emphasizing safety, quality, and environmental standards in industrials and marine shipping. Its role sustains global energy exploration, production, and transitioning infrastructures through reliable vessel operations.
NOK 1.00
NOK 0.17 (-14.16%)
Price from 4 days ago
11.34% operating margin is respectable but not wide. ROIC at 5.04%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 11.8%, still solid. Margins contracted 3.3pp, which offsets some of the top-line progress.
Operating margin contracted 3.3pp YoY, cost discipline may be slipping.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
NOK 566M
▲ +11.8% YoY
Net Income (TTM)
-NOK 56M
▼ -3.4% YoY
Op. Margin
0.88%
▼ -3.3pp YoY
ROIC
5.04%
▼ -1.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
NOK 176M
▲ +45.6% YoY
Op. Cash Flow (TTM)
NOK 176M
▼ -21.8% YoY
Net Debt
NOK 794M
Cash & Equiv.
NOK 218M
3Y CAGR: -54.4%
3Y CAGR: -46.9%
Continue Research
Havila Shipping ASA (HAVI.XOSL) trades below a two-stage DCF intrinsic value of about NOK 5.87 per share, so at NOK 1.00 the stock looks undervalued (487.2% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Havila Shipping ASA scores 15/100 on Intrinsiqq's quality scorecard (a lower-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about NOK 5.87 per share for HAVI.XOSL, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around NOK 4.40. At today's NOK 1.00, that puts the stock about 487.2% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Havila Shipping ASA scores 15 out of 100 on Intrinsiqq's quality score, a weighted blend of 7 metrics each scored 0 to 100, which makes it a lower-quality business on these measures. Recent fundamentals include a 0.9% operating margin and a 5.0% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
That depends on valuation and quality together, not either alone. HAVI.XOSL currently trades below its estimated intrinsic value and scores 15/100 on quality (lower-quality). A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.