Taiwan High Speed Rail Corporation (2633.TW) stock analysis

In our weekly check, Taiwan High Speed Rail Corporation is graded B (A to F). Of 24 checks on debt, profit, cash flow and trend: 16 pass, warnings: 5, red flags: 3.

About Taiwan High Speed Rail Corporation

Taiwan High Speed Rail Corporation is an Industrials company (Railroads) based in Taiwan, listed on TAI as 2633.TW.

What our checks show for 2633.TW

Red flags

• Net debt is 7.6x a year of EBITDA (debt/equity 3.98). That limits room in a downturn and raises refinancing risk.
• The stock has fallen as much as 62% from a peak. Would you have held through that?
• Recovering from its deepest fall took about 8 years.

Warning signs

• Operating profit covers interest only 3.4 times: a weak year could make the payments hard.
• Analysts expect earnings per share to shrink about 100% a year.
• Analysts expect only about 2.3% a year of growth in revenue.
• The dividend takes 86% of profit: little cushion if profit falls.
• Return on capital (ROCE) is only 6.4%.

Strengths

• The gross margin is 43.1% and has risen by 28.2 points: pricing power is holding.
• Operating cash flow is 3.18x net profit: the profit arrives as real cash.
• Earnings per share grew 21.8% a year over the last 3 years.
• Net profit grew 22% a year over the last 3 years.
• Free cash flow is 38.9% of revenue: cash for dividends, buybacks or growth.
• The price moves calmly: 12.9% annual volatility.

Next earnings report: 2026-11-05

Similar companies

UNP · 1766.HK · 0066.HK · CSX · 601816.SS · CP

Questions

What grade does Taiwan High Speed Rail Corporation (2633.TW) have?

In our weekly check, Taiwan High Speed Rail Corporation is graded B (A to F). Of 24 checks on debt, profit, cash flow and trend: 16 pass, warnings: 5, red flags: 3. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of 2633.TW stock?

This week's biggest flags for Taiwan High Speed Rail Corporation: High debt, Deep past fall, Slow recovery after falls. In total 8 of 24 checks show a warning or a red flag.

What does Taiwan High Speed Rail Corporation do?

Taiwan High Speed Rail Corporation is an Industrials company (Railroads) based in Taiwan, listed on TAI as 2633.TW.

When does Taiwan High Speed Rail Corporation report earnings next?

The next earnings report is expected on 2026-11-05. 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 2026-10-31

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