HAFN
Hafnia Limited
HAFN has lower modeled downside risk, despite its lower overall score.
RDW
Redwire Corporation
RDW has a slight edge over HAFN overall, supported by stronger valuation and stronger modeled upside.
HAFN Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Strong |
HAFN's revenue, profitability, cash flow and balance sheet are all currently healthy.
RDW Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Unavailable |
RDW's revenue is currently healthy, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
HAFN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 3.4x | $4.41 | -54% |
| Forward | 6.7x | $9.62 | — |
| Fair | 7.1x | $9.33 | -3% |
| Current | 7.3x | $9.62 | — |
| Expensive | 10x | $13.28 | +38% |
Historical ranges are pointers, not guarantees.
HAFN's PE is in its fair range at 7.3x. If earnings grow as analysts expect, today's price would be 6.7x next year's earnings.
RDW PE Valuation
RDW has no meaningful PE right now: it lost money over the past year.
HAFN Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Weakening | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for HAFN, but weaker profitability. However, they disagree widely on these estimates.
RDW Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
RDW has the edge over HAFN on the outlook, with more favorable profitability expectations.
HAFN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.44 | +10% |
| Q2 2026 | $1.31 | +54% |
| Q1 2026 | $0.91 | -24% |
| Q4 2025 | $0.68 | -54% |
| Q3 2025 | $0.61 | -64% |
| Q2 2025 | $0.85 | -46% |
| Q1 2025 | $1.20 | -19% |
| Q4 2024 | $1.49 | -4.5% |
| Q3 2024 | $1.71 | -2.3% |
HAFN has the edge over RDW on earnings quality, reporting a profit while its opponent remains loss making.
RDW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.17 | +$2.01 |
| Q2 2026 | -$1.37 | +$1.89 |
| Q1 2026 | -$2.59 | -$0.32 |
| Q4 2025 | -$2.28 | +$0.07 |
| Q3 2025 | -$3.18 | -$1.97 |
| Q2 2025 | -$3.26 | -$2.28 |
| Q1 2025 | -$2.27 | -$1.55 |
| Q4 2024 | -$2.35 | -$1.62 |
RDW is still losing money, but far less than before: $1.17 per share over the past year, against $3.26 at its worst in mid-2025.
HAFN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $815.8M | +47% |
| Q1 2026 | $671.2M | +23% |
| Q4 2025 | $593.2M | +11% |
| Q3 2025 | $586.9M | -18% |
| Q2 2025 | $554.2M | -33% |
| Q1 2025 | $547.9M | -30% |
| Q4 2024 | $532.9M | -54% |
| Q3 2024 | $719.7M | +11% |
HAFN's revenue is recovering but still below its 2023 peak: $816M last quarter, up 47% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 29% | +15 points |
| Q1 2026 | 22% | +8.7 points |
| Q4 2025 | 16% | -1.4 points |
| Q3 2025 | 17% | -13 points |
| Q2 2025 | 15% | -17 points |
| Q1 2025 | 14% | -16 points |
| Q4 2024 | 17% | +1.7 points |
| Q3 2024 | 30% | +4.7 points |
HAFN has the edge over RDW on profitability, with a higher operating margin.
RDW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $109M | +5.4% |
| Q2 2026 | $117.1M | +90% |
| Q1 2026 | $97M | +58% |
| Q4 2025 | $108.8M | +56% |
| Q3 2025 | $103.4M | +51% |
| Q2 2025 | $61.8M | -21% |
| Q1 2025 | $61.4M | -30% |
| Q4 2024 | $69.6M | +9.6% |
RDW has the edge over HAFN on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -24% | +16 points |
| Q2 2026 | -19% | +130 points |
| Q1 2026 | -72% | -49 points |
| Q4 2025 | -75% | -48 points |
| Q3 2025 | -40% | -22 points |
| Q2 2025 | -149% | -140 points |
| Q1 2025 | -23% | -19 points |
| Q4 2024 | -27% | -17 points |
RDW's operating margin was −24% last quarter, up 16 points from the same quarter a year ago.
HAFN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $252.1M | +72% |
| Q1 2026 | $106.9M | -2.9% |
| Q4 2025 | $113.1M | -39% |
| Q3 2025 | $74.1M | -73% |
| Q2 2025 | $146.7M | -49% |
| Q1 2025 | $110M | -53% |
| Q4 2024 | $183.9M | +20% |
| Q3 2024 | $276.4M | -5% |
HAFN has the edge over RDW on cash generation, producing positive trailing cash flow while its opponent burns cash.
RDW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$65.3M | -$38.5M |
| Q2 2026 | -$33.5M | +$57.2M |
| Q1 2026 | -$11.4M | +$35.5M |
| Q4 2025 | -$26.5M | -659% |
| Q3 2025 | -$26.9M | -$7.6M |
| Q2 2025 | -$90.6M | -$80.2M |
| Q1 2025 | -$46.9M | -3996% |
| Q4 2024 | $4.7M | -65% |
RDW has burned cash in most quarters: −$137M over the past year, against −$160M the year before.
HAFN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +708K shares |
| 1 year | +0.4% | +2M shares |
| 3 years | -0.3% | -1.3M shares |
HAFN has the edge over RDW on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $434,308 |
| Q3 2025 | $379,789 |
| Q2 2025 | $1M |
| Q1 2025 | $27.7M |
| Q4 2024 | — |
| Q3 2024 | — |
HAFN has spent almost nothing on buybacks in the past year.
RDW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +13% | +29.6M shares |
| 1 year | +179% | +160M shares |
| 3 years | +289% | +186M shares |
| 5 years | +319% | +190M shares |
RDW has 250M diluted shares, up 179% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
HAFN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.6x | Very low |
| Q1 2026 | 1.2x | Healthy |
| Q4 2025 | 1.6x | Healthy |
| Q3 2025 | 1.3x | Healthy |
| Q2 2025 | 1.0x | Healthy |
| Q1 2025 | 0.9x | Very low |
| Q4 2024 | 0.8x | Very low |
| Q3 2024 | 0.7x | Very low |
HAFN's net debt is less than a year of its operating earnings (EBITDA), down from a year a year ago.
RDW Net Leverage
RDW's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
HAFN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.5 | Neutral |
| Stochastic | 69.9 | Neutral |
HAFN's weekly RSI is 56 (neutral) and its Stochastic is 70 (neutral).
RDW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.3 | Neutral |
| Stochastic | 16.1 | Oversold |
RDW's weekly RSI is 42 (neutral) and its Stochastic is 16 (oversold).
HAFN PE vs Industrials Sector
| Metric | HAFN | Sector median | Relative |
|---|---|---|---|
| PE | 7.3x | 24x | 70% below |
| PE % | 56 | 44 | 12 pts above |
HAFN is trading at 7.3x earnings, a 70% discount to the Industrials sector's median of 24x.
RDW PE vs Industrials Sector
RDW has no meaningful PE right now: it lost money over the past year.
HAFN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $10.0 | 4.1% below |
| 20 week MA | $8.89 | 8.2% above |
| 50 week MA | $7.79 | 23% above |
| 100 week MA | $6.58 | 46% above |
HAFN has stronger trend alignment. HAFN is above 3 of 4 weekly averages versus RDW above 0 of 5.
RDW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $9.06 | 11% below |
| 20 week MA | $10.1 | 20% below |
| 50 week MA | $10.6 | 24% below |
| 100 week MA | $11.6 | 31% below |
| 200 week MA | $8.07 | 0.5% below |
RDW is in a downtrend: it's below all five of its weekly moving averages, and 0.5% below its 200-week average.
HAFN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $7.47 | $5.45 | -27% |
| 2025 | $5.45 | $5.37 | -1.5% |
| 2026 YTD | $5.37 | $9.62 | +79% |
HAFN has the edge over RDW on returns for 2026, with the stronger performance.
RDW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $10.2 | $7.34 | -28% |
| 2022 | $7.34 | $1.92 | -74% |
| 2023 | $1.92 | $2.85 | +48% |
| 2024 | $2.85 | $17.1 | +501% |
| 2025 | $17.1 | $7.15 | -58% |
| 2026 YTD | $7.15 | $8.03 | +12% |
RDW's yearly returns have swung widely, from +501% in 2024 to −74% in 2022. It's up 12% so far in 2026.