WallStSmart

EuroDry Ltd (EDRY)vsHafnia Limited (HAFN)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Hafnia Limited generates 4183% more annual revenue ($2.67B vs $62.27M). HAFN leads profitability with a 24.7% profit margin vs 15.0%. HAFN trades at a lower P/E of 7.1x. HAFN earns a higher WallStSmart Score of 78/100 (B+).

EDRY

Buy

54

out of 100

Grade: C-

Growth: 4.7Profit: 6.5Value: 6.3Quality: 5.0
Piotroski: 4/9Altman Z: 1.07

HAFN

Strong Buy

78

out of 100

Grade: B+

Growth: 8.7Profit: 8.5Value: 5.7Quality: 6.5
Piotroski: 3/9Altman Z: 2.32
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

EDRYUndervalued (+11.4%)

Margin of Safety

+11.4%

Fair Value

$16.17

Current Price

$67.12

$50.95 discount

UndervaluedFair: $16.17Overvalued
HAFNSignificantly Overvalued (-80.2%)

Margin of Safety

-80.2%

Fair Value

$3.68

Current Price

$9.38

$5.70 premium

UndervaluedFair: $3.68Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

EDRY4 strengths · Avg: 9.0/10
Operating MarginProfitability
49.8%10/10

Strong operational efficiency at 49.8%

Revenue GrowthGrowth
57.0%10/10

Revenue surging 57.0% year-over-year

P/E RatioValuation
15.6x8/10

Attractively priced relative to earnings

Price/BookValuation
1.9x8/10

Reasonable price relative to book value

HAFN6 strengths · Avg: 9.2/10
P/E RatioValuation
7.1x10/10

Attractively priced relative to earnings

Revenue GrowthGrowth
47.2%10/10

Revenue surging 47.2% year-over-year

EPS GrowthGrowth
266.7%10/10

Earnings expanding 266.7% YoY

Profit MarginProfitability
24.7%9/10

Keeps 25 of every $100 in revenue as profit

Price/BookValuation
2.0x8/10

Reasonable price relative to book value

Operating MarginProfitability
29.5%8/10

Strong operational efficiency at 29.5%

Areas to Watch

EDRY4 concerns · Avg: 2.3/10
Market CapQuality
$148.46M3/10

Smaller company, higher risk/reward

Return on EquityProfitability
-0.3%2/10

ROE of -0.3% — below average capital efficiency

EPS GrowthGrowth
-94.3%2/10

Earnings declined 94.3%

Altman Z-ScoreHealth
1.072/10

Distress zone — elevated risk

HAFN1 concerns · Avg: 3.0/10
Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Comparative Analysis Report

WallStSmart Research

Bull Case : EDRY

The strongest argument for EDRY centers on Operating Margin, Revenue Growth, P/E Ratio. Revenue growth of 57.0% demonstrates continued momentum.

Bull Case : HAFN

The strongest argument for HAFN centers on P/E Ratio, Revenue Growth, EPS Growth. Profitability is solid with margins at 24.7% and operating margin at 29.5%. Revenue growth of 47.2% demonstrates continued momentum.

Bear Case : EDRY

The primary concerns for EDRY are Market Cap, Return on Equity, EPS Growth.

Bear Case : HAFN

The primary concerns for HAFN are Piotroski F-Score.

Key Dynamics to Monitor

EDRY carries more volatility with a beta of 0.64 — expect wider price swings.

EDRY is growing revenue faster at 57.0% — sustainability is the question.

HAFN generates stronger free cash flow (252M), providing more financial flexibility.

Monitor MARINE SHIPPING industry trends, competitive dynamics, and regulatory changes.

Bottom Line

HAFN scores higher overall (78/100 vs 54/100), backed by strong 24.7% margins and 47.2% revenue growth. Both earn "Strong Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

EuroDry Ltd

INDUSTRIALS · MARINE SHIPPING · USA

EuroDry Ltd., provides shipping services worldwide. The company is headquartered in Marousi, Greece.

Hafnia Limited

INDUSTRIALS · MARINE SHIPPING · USA

Hafnia Limited owns and operates oil product tankers in Bermuda. The company is headquartered in Hamilton, Bermuda.

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