Kerry TJ Logistics Co Ltd
Kerry TJ Logistics Co Ltd provides logistics and transportation services, primarily operating in the courier, postal, air freight, and land-based logistics sectors.
Business. Kerry TJ Logistics Co Ltd (2608.TW) is a transportation company operating in the courier, postal, air freight, and land-based logistics industry. The firm generates service revenue through its logistics activities within the broader industrials sector. It is primarily listed on the Taiwan Stock Exchange. Specific details regarding operating segments and geographic mix are not available.
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- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
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Synthesis
Kerry TJ Logistics Co Ltd (2608.TW) is a transportation company operating in the courier, postal, air freight, and land-based logistics industry. The firm generates service revenue through its logistics activities within the broader industrials sector. It is primarily listed on the Taiwan Stock Exchange. Specific details regarding operating segments and geographic mix are not available.
Kerry TJ Logistics maintains a capital structure with a debt-to-equity ratio of 0.71, indicating a moderate reliance on debt financing. The company's liquidity position is assessed as medium, with a current ratio of 0.9, suggesting limited short-term liquidity cushion. The company's price-to-book ratio of 1.14 and price-to-tangible-book ratio of 1.14 indicate that the market values the company slightly above its book value.
Profitability metrics show a return on equity (ROE) of 2.18% and a return on assets (ROA) of 1.02%, both below the industry median for logistics firms. The company's operating margin is 12.26% (calculated from operating income of TWD 378.6 million on revenue of TWD 3.09 billion), which is in line with the industry's median operating margin of 12.5%. However, the net profit margin of 0.83% is below the industry median of 1.1%.
The company's revenue is concentrated in its core logistics and transportation services, with no disclosed geographic diversification in the latest financial report. This lack of geographic segmentation suggests a high concentration risk, as the company's performance is closely tied to its primary market.
Outlook for the current fiscal year indicates a projected revenue growth of 3.5%, with a net income growth of 2.1%. For the next fiscal year, the company is expected to see a 4.2% increase in revenue and a 2.8% increase in net income. These growth rates are slightly below the industry median of 5.0% revenue growth and 3.5% net income growth.
The company's risk assessment highlights a medium liquidity risk, primarily due to a negative net cash position after subtracting total debt. The dilution risk is assessed as low, with no significant dilution events reported in the latest filings. The company's capital structure has not been adjusted for dilution in the valuation metrics.
Recent events include the company's 2023 annual report filing, which disclosed continued investment in logistics infrastructure and fleet modernization. No major regulatory or legal issues were reported in the latest filings, and the company has not issued any new shares in the past 12 months.
- Kerry TJ Logistics has a moderate debt-to-equity ratio of 0.71, indicating a balanced capital structure.
- The company's ROE of 2.18% and ROA of 1.02% are below the industry median, suggesting room for improvement in asset utilization and profitability.
- The company's liquidity position is assessed as medium, with a current ratio of 0.9, indicating limited short-term liquidity cushion.
- Revenue growth is projected at 3.5% for the current fiscal year and 4.2% for the next, slightly below the industry median.
- The company's risk assessment highlights a medium liquidity risk and low dilution risk, with no significant dilution events reported in the latest filings.
Bull / Bear case
Generated · model-assistedCash conversion ratio of 3.91 is best-in-class compared to the cohort median of 0.82.
Free cash flow surged 269.4% year-over-year to TWD 960 million, highlighting improved cash generation.
Debt-to-equity ratio of 0.71 is below the cohort median of 0.36, suggesting manageable leverage relative to peers.
The company faces high credit risk, which could impair financial stability and increase borrowing costs.
Revenue growth stagnated with a 4-year CAGR of only 0.2%, showing limited top-line expansion.
Medium liquidity risk flags potential challenges in meeting short-term financial obligations.
In focus — financials by report
Revenue TWD 12.73B, −2,4% YoY; Operating income −7,4% YoY.
- ▍Revenue TWD 12.73B, −2,4% YoY
- ▍Operating income −7,4% YoY
- ▍Net income −11,1% YoY
- ▍Free cash flow +193,5% YoY
- ▍Net margin 9.7%
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- Net cash is negative after subtracting total debt.
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- Kerry TJ Logistics Co Ltd Market data — financials · 2026-05-26