EVERGREEN MARINE CORPORATION (TAIWAN) LTD. Financials Evergreen Marine Corporation (Taiwan) Ltd.
Equities
2603
TW0002603008
Marine Freight & Logistics
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 187 TWD | +3.31% |
|
+8.41% | +30.31% |
| Mar. 15 | Evergreen Marine Corporation Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
| Feb. 27 | Global Shipping Lines Extend Vessel-Sharing Agreement -- Update | DJ |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 55,961 | 195,888 | 753,946 | 344,976 | 303,706 | 399,489 | - | - |
| Enterprise Value (EV) 1 | 109,930 | 305,810 | 781,036 | -51,670 | 252,194 | 181,933 | 245,288 | 363,005 |
| P/E ratio | 620 x | 8.21 x | 3.15 x | 1.89 x | 8.74 x | 9.01 x | 14.5 x | 7.77 x |
| Yield | - | 6.14% | 12.6% | 42.9% | 6.97% | 5.58% | 2.94% | 3.77% |
| Capitalization / Revenue | 0.29 x | 0.95 x | 1.54 x | 0.55 x | 1.1 x | 1.21 x | 1.4 x | 1.33 x |
| EV / Revenue | 0.58 x | 1.48 x | 1.6 x | -0.08 x | 0.91 x | 0.55 x | 0.86 x | 1.21 x |
| EV / EBITDA | 4.32 x | 5.49 x | 2.54 x | -0.13 x | 3.68 x | 2.13 x | 4.02 x | 5.87 x |
| EV / FCF | 8.42 x | 13.7 x | 3.19 x | -0.13 x | -9.61 x | 2.88 x | 4.03 x | 13.8 x |
| FCF Yield | 11.9% | 7.28% | 31.4% | -747% | -10.4% | 34.7% | 24.8% | 7.26% |
| Price to Book | 1.59 x | 2.08 x | 2.31 x | 0.62 x | 0.69 x | 0.84 x | 0.84 x | 0.8 x |
| Nbr of stocks (in thousands) | 1,805,190 | 1,925,190 | 2,116,339 | 2,116,420 | 2,116,420 | 2,136,305 | - | - |
| Reference price 2 | 31.00 | 101.8 | 356.2 | 163.0 | 143.5 | 187.0 | 187.0 | 187.0 |
| Announcement Date | 3/23/20 | 3/22/21 | 3/15/22 | 3/15/23 | 3/15/24 | - | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 190,589 | 207,078 | 489,407 | 627,284 | 276,715 | 330,949 | 285,577 | 299,369 |
| EBITDA 1 | 25,422 | 55,733 | 307,473 | 402,567 | 68,614 | 85,392 | 61,029 | 61,881 |
| EBIT 1 | 4,658 | 34,668 | 284,862 | 374,808 | 34,750 | 52,551 | 24,468 | 47,894 |
| Operating Margin | 2.44% | 16.74% | 58.21% | 59.75% | 12.56% | 15.88% | 8.57% | 16% |
| Earnings before Tax (EBT) 1 | 778.9 | 31,840 | 288,235 | 399,424 | 64,172 | 62,067 | 30,389 | - |
| Net income 1 | 112.5 | 24,365 | 239,015 | 334,201 | 35,337 | 44,257 | 33,531 | 50,923 |
| Net margin | 0.06% | 11.77% | 48.84% | 53.28% | 12.77% | 13.37% | 11.74% | 17.01% |
| EPS 2 | 0.0500 | 12.40 | 113.0 | 86.22 | 16.42 | 20.77 | 12.86 | 24.06 |
| Free Cash Flow 1 | 13,062 | 22,273 | 245,059 | 386,091 | -26,238 | 63,195 | 60,832 | 26,340 |
| FCF margin | 6.85% | 10.76% | 50.07% | 61.55% | -9.48% | 19.1% | 21.3% | 8.8% |
| FCF Conversion (EBITDA) | 51.38% | 39.96% | 79.7% | 95.91% | - | 74.01% | 99.68% | 42.57% |
| FCF Conversion (Net income) | 11,608.83% | 91.41% | 102.53% | 115.53% | - | 142.79% | 181.42% | 51.72% |
| Dividend per Share 2 | - | 6.250 | 45.00 | 70.00 | 10.00 | 10.44 | 5.504 | 7.049 |
| Announcement Date | 3/23/20 | 3/22/21 | 3/15/22 | 3/15/23 | 3/15/24 | - | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 143,482 | 156,006 | 170,825 | 174,999 | 170,433 | 111,027 | 66,827 | 67,385 | 72,812 | 69,691 | 90,249 | 81,006 | 86,061 | 76,764 | 69,329 |
| EBITDA 1 | - | - | - | 124,767 | 116,350 | - | 18,675 | - | - | 13,919 | 33,710 | 17,640 | 11,260 | 10,210 | - |
| EBIT 1 | 96,117 | 92,757 | 114,802 | 117,930 | 109,250 | 32,826 | 11,137 | 10,132 | 8,760 | 4,721 | 20,857 | 12,039 | 10,811 | 5,371 | 2,384 |
| Operating Margin | 66.99% | 59.46% | 67.2% | 67.39% | 64.1% | 29.57% | 16.67% | 15.04% | 12.03% | 6.77% | 23.11% | 14.86% | 12.56% | 7% | 3.44% |
| Earnings before Tax (EBT) 1 | 96,266 | 95,065 | 117,376 | 125,326 | 118,253 | 38,470 | 16,229 | 16,214 | 25,196 | 6,533 | 23,642 | 14,421 | 13,486 | 7,183 | 3,284 |
| Net income 1 | 80,138 | 80,736 | 101,360 | 102,293 | 100,698 | 29,850 | 5,043 | 5,092 | 21,909 | 3,293 | 17,950 | 9,944 | 9,570 | 5,093 | 1,747 |
| Net margin | 55.85% | 51.75% | 59.34% | 58.45% | 59.08% | 26.89% | 7.55% | 7.56% | 30.09% | 4.73% | 19.89% | 12.28% | 11.12% | 6.63% | 2.52% |
| EPS 2 | 37.48 | 37.85 | 47.38 | 47.72 | 36.85 | 17.34 | 2.360 | 2.360 | 10.35 | 1.610 | 8.410 | 4.654 | 4.480 | 2.392 | 0.8100 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/5/21 | 3/15/22 | 5/6/22 | 8/5/22 | 11/4/22 | 3/15/23 | 5/13/23 | 8/11/23 | 11/13/23 | 3/15/24 | - | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 53,970 | 109,922 | 27,090 | - | - | - | - | - |
| Net Cash position 1 | - | - | - | 396,646 | 51,513 | 217,557 | 154,202 | 36,484 |
| Leverage (Debt/EBITDA) | 2.123 x | 1.972 x | 0.0881 x | - | - | - | - | - |
| Free Cash Flow 1 | 13,062 | 22,273 | 245,059 | 386,091 | -26,238 | 63,195 | 60,832 | 26,340 |
| ROE (net income / shareholders' equity) | 0.16% | 29.7% | 114% | 76% | 7.1% | 10.4% | 4.74% | 7.02% |
| ROA (Net income/ Total Assets) | 0.04% | 7.6% | 50.6% | 44.6% | 4.4% | 5.82% | 3.72% | 6.23% |
| Assets 1 | 267,775 | 320,410 | 472,624 | 749,268 | 803,115 | 761,010 | 900,768 | 817,391 |
| Book Value Per Share 2 | 19.50 | 49.00 | 154.0 | 261.0 | 208.0 | 222.0 | 223.0 | 233.0 |
| Cash Flow per Share 2 | 8.800 | 26.40 | 144.0 | 109.0 | -6.420 | 35.20 | 21.90 | 26.80 |
| Capex 1 | 6,731 | 29,585 | 55,999 | 54,174 | -12,405 | 35,294 | 30,131 | 50,677 |
| Capex / Sales | 3.53% | 14.29% | 11.44% | 8.64% | -4.48% | 10.66% | 10.55% | 16.93% |
| Announcement Date | 3/23/20 | 3/22/21 | 3/15/22 | 3/15/23 | 3/15/24 | - | - | - |
1TWD in Million2TWD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
9
Last Close Price
187
TWD
Average target price
179.2
TWD
Spread / Average Target
-4.16%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +30.31% | 12.25B | |
| +21.24% | 4.13B | |
| +36.60% | 4B | |
| +16.23% | 2.8B | |
| -15.05% | 1.89B | |
| +18.10% | 1.88B | |
| +16.21% | 1.85B | |
| +33.94% | 1.59B | |
| +32.12% | 1.57B | |
| +1.55% | 1.46B |
- Stock Market
- Equities
- 2603 Stock
- Financials Evergreen Marine Corporation (Taiwan) Ltd.
