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UK's largest North Sea independent oil and gas producer, with offshore North Sea fields plus international assets in Indonesia, Vietnam and Mexico.
UK's largest North Sea independent oil and gas producer, with offshore North Sea fields plus international assets in Indonesia, Vietnam and Mexico.
Sells oil and gas from its fields at market prices, so earnings follow commodity prices and output, and UK taxes on North Sea profits matter heavily. The 2024 purchase of Wintershall Dea's oil and gas operations broadened it beyond the UK into Norway and several other countries.
In one line: A UK North Sea E&P peer to Ithaca Energy, but larger and more internationally diversified.
Moat: none (installed base, regulatory licence). Owns licensed producing assets in the North Sea and abroad, but is a price-taker with no product differentiation.
Headquarters: Aberdeen, UK · Founded: 2014
Size Harbour Energy (HBR.L) is a United Kingdom Energy company (Oil & Gas Production) with a market value of $6.17B, the 78th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £263.40 on 6 Nov 2026.
Performance Over six months the shares fell 7.9%, against -2.8% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 17.0% over the last twelve months (peer median +10.0%); the operating margin is 39.6% (peer median 22.3%).
Valuation It trades at 5.1× forward earnings against a peer median of 10.3× (4th cheapest of 21).
Capital Return on invested capital runs 20.8 points above its cost of capital (5.9% WACC).
Credit Harbour Energy has 4 bonds outstanding ($3.30B), rated BBB- by the agencies and trading like BBB- at a weighted spread of 151 bp.
Next results Next results expected around 11 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £8.52B | £7.58B | £4.83B | £3.72B | £4.38B |
| Revenue growth | — | +57% | +30% | -15% | — |
| Gross profit | £3.66B | £3.02B | £1.75B | £1.63B | £1.95B |
| EBITDA | £5.80B | £5.18B | £3.14B | £2.83B | £3.21B |
| Net income | £318M | -£138M | -£72.8M | £36.2M | £6.66M |
| Free cash flow | £1.48B | £1.37B | £490M | £1.28B | £2.05B |
| Capital expenditure | £1.38B | £1.45B | £1.03B | £643M | £514M |
| Total debt | n/a | £5.81B | £6.06B | £1.00B | £1.71B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Harbour Energy HBR.L | $6.17B | -8% | +17% | 40% | 5.1× | n/a |
| Ithaca Energy ITH.L | $5.52B | -9% | +28% | 41% | 12.1× | -7.0% |
| Serica Energy SER.L | $1.20B | -17% | +64% | 23% | 12.6× | -13.0% |
| EnQuest ENQ.L | $671M | +40% | +3% | 17% | 8.9× | -9.1% |
| TotalEnergies TTE.PA | $200B | +2% | +11% | 17% | 7.0× | -15.6% |
| Shell SHEL.L | $284B | +18% | +15% | 16% | 7.7× | -10.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | HBR.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.5% | -1.7% | 9th lowest of 21 |
| 6-month return | -7.9% | -2.8% | 8th lowest of 21 |
| Distance from 52-week high | -20.5% | -21.0% | 10th highest of 21 |
| Revenue growth (TTM) | +17.0% | +10.0% | 8th highest of 21 |
| Operating margin | 39.6% | 22.3% | 5th highest of 21 |
| Forward P/E | 5.1× | 10.3× | 4th cheapest of 21 |
| ROIC minus cost of capital | +20.8 pp | +1.9 pp | 2nd highest of 21 |
| EV / EBITDA | 1.8× | 6.9× | cheapest of 20 |
| Net debt / EBITDA | 1.0× | 1.1× | 9th least indebted of 20 |
| Bond spread | 151 bp | 195 bp | 5th tightest of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Harbour Energy HBR.L | United Kingdom | $6.17B | -8% | +17% | 40% | 5.1× | n/a | n/a |
| Magnolia Oil & Gas MGY | United States | $6.34B | -15% | +11% | 38% | 7.4× | 3.4% | +19.4% |
| Vista Energy SAB de CV Sponsored ADR VIST | United States | $6.91B | -12% | +84% | 40% | 4.6× | -13.4% | +55.3% |
| Seplat Energy SEPL.L | United Kingdom | $7.14B | +56% | +25% | 27% | 19.7× | -7.1% | +38.0% |
| Murphy Oil MUR | United States | $5.16B | -3% | +8% | 22% | 8.6× | -0.7% | +9.0% |
| CNX Resources CNX | United States | $4.99B | -2% | +8% | 40% | 9.3× | -5.8% | +14.6% |
| Comstock Resources CRK | United States | $3.94B | -5% | +17% | 19% | 43.4× | n/a | n/a |
| Patterson-UTI Energy PTEN | United States | $3.76B | -13% | 0% | 0% | 26.0× | 42.6% | +33.8% |
| Antero Resources AR | United States | $11.1B | 0% | +22% | 23% | 7.8× | -4.1% | +15.1% |
| Range Resources RRC | United States | $11.4B | +20% | +18% | 33% | 12.1× | -1.7% | +10.9% |
| Topaz Energy TPZ.TO | Canada | $3.17B | -9% | +22% | 60% | 22.8× | 5.9% | +29.4% |
| Jiangxi Jovo Energy 605090.SS | China | $3.02B | -37% | -7% | 9% | 11.8× | -0.6% | +17.9% |
| International Petroleum Corp. (British Columbia) IPCO.TO | Canada | $2.85B | 0% | +11% | 19% | 11.2× | n/a | n/a |
| Gulfport Energy GPOR | United States | $2.65B | -16% | +27% | 42% | 6.3× | -13.4% | +10.6% |
| Origin Energy ORG.AX | Australia | $14.4B | +5% | -10% | 8% | 16.2× | 10.9% | +5.0% |
| Talos Energy TALO | United States | $2.48B | -1% | +13% | 14% | 7.9× | -5.0% | +25.3% |
| Northern Oil and Gas NOG | United States | $2.43B | -2% | -3% | 30% | 4.9× | n/a | n/a |
| Tourmaline Oil TOU.TO | Canada | $17.5B | -3% | +4% | 1% | 11.9× | n/a | n/a |
| Select Water Solutions WTTR | United States | $2.09B | -4% | -2% | 4% | 28.9× | n/a | n/a |
| Santos STO.AX | Australia | $19.2B | +11% | -8% | 21% | 8.1× | 11.7% | +9.3% |
| Energean ENOG.L | United Kingdom | $1.72B | -19% | +9% | 27% | 4.2× | -2.4% | +126.8% |
Harbour Energy has 4 bonds outstanding with $3.30B face value. The agencies rate it BBB-; its bonds trade like BBB-. Weighted yield 6.27%, a spread of 151 bp over government bonds.