Evergreen Marine Corporation (Taiwan) Ltd. (2603.TW) stock analysis

In our weekly check, Evergreen Marine Corporation (Taiwan) Ltd. is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 13 pass, warnings: 6, red flags: 6.

About Evergreen Marine Corporation (Taiwan) Ltd.

Evergreen Marine Corporation (Taiwan) Ltd. is an Industrials company (Marine Shipping) based in Taiwan, listed on TAI as 2603.TW.

What our checks show for 2603.TW

Red flags

• The net margin fell by 34.2 points over 5 years, to 14.6%: the company keeps less of each sale as profit.
• The gross margin fell by 40.8 points, to 20.9%: costs are rising faster than prices.
• Analysts expect the net margin to shrink by 3.7 points from today's 14.6%.
• Revenue fell 15.8% a year over the last 3 years.
• The dividend takes 129% of profit: little cushion if profit falls.
• The stock has fallen as much as 83% from a peak. Would you have held through that?

Warning signs

• Analysts expect earnings per share to shrink about 7.9% a year.
• Analysts expect only about 3.3% a year of growth in revenue.
• Earnings per share fell 45.7% a year over the last 3 years.
• Net profit fell 45.3% a year over the last 3 years.
• The stock is still below its previous peak.
• Return on capital (ROCE) is only 7.5%.

Strengths

• Net debt is only 0.3x a year of EBITDA: the balance sheet has room.
• Operating profit covers interest 10.7 times over.
• Operating cash flow is 1.55x net profit: the profit arrives as real cash.
• Free cash flow is 16.8% of revenue: cash for dividends, buybacks or growth.
• The price is 10.3 times earnings (P/E), reasonable for its growth.
• A large company: market value $17.28 billion.

Next earnings report: 2026-11-18

Similar companies

MAERSK-B.CO · 1919.HK · 9104.T · 9101.T · ADANIPORTS.NS

Questions

What grade does Evergreen Marine Corporation (Taiwan) Ltd. (2603.TW) have?

In our weekly check, Evergreen Marine Corporation (Taiwan) Ltd. is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 13 pass, warnings: 6, red flags: 6. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of 2603.TW stock?

This week's biggest flags for Evergreen Marine Corporation (Taiwan) Ltd.: Margins falling, Gross margin falling, Margins expected to shrink. In total 12 of 25 checks show a warning or a red flag.

What does Evergreen Marine Corporation (Taiwan) Ltd. do?

Evergreen Marine Corporation (Taiwan) Ltd. is an Industrials company (Marine Shipping) based in Taiwan, listed on TAI as 2603.TW.

When does Evergreen Marine Corporation (Taiwan) Ltd. report earnings next?

The next earnings report is expected on 2026-11-18. We re-run the checks every week, so the grade can change after it.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-24

Open the full analysis