Yang Ming Marine Transport Corp

Yang Ming Marine Transport Corp maintains a conservative capital structure with a debt-to-equity ratio of 0.06 and a current ratio of 4.7, indicating strong short-term liquidity coverage. The balance sheet reflects total assets of 454.2 billion TWD against total liabilities of 128.4 billion TWD, resulting in total equity of 325.9 billion TWD. Long-term debt stands at 19.7 billion TWD, while cash and equivalents total 80.6 billion TWD, providing a substantial net cash position. The company trades at a price-to-book ratio of 0.57 and an EV/EBITDA of 14.74, suggesting the market values the equity below its book value despite the strong liquidity profile.

Profitability metrics show a return on equity of 3.3% and a return on assets of 2.37%, which are modest returns relative to the capital base. The company reported revenue of 163.6 billion TWD with a gross profit of 24.4 billion TWD, resulting in an operating income of 14.7 billion TWD and net income of 17.1 billion TWD. The net income exceeds operating income, likely due to non-operating gains or tax benefits, though specific breakdowns are not provided. The low ROE and ROA suggest that while the company is profitable, it is not generating high returns on its substantial equity base, which is consistent with a mature, asset-heavy industry facing cyclical headwinds.

Segment and geographic revenue data are not available in the provided input, preventing a detailed analysis of revenue concentration or regional exposure. The company’s activity is broadly classified as marine transportation, implying exposure to global trade flows and freight rate volatility. Without specific segment data, the revenue mix is assumed to be diversified across standard shipping routes and cargo types typical for the industry, but no specific claims can be made regarding customer or product concentration.

Growth trajectory analysis is limited by the absence of historical period data in the input. The current financial snapshot shows a revenue base of 163.6 billion TWD, but without prior year comparisons, year-over-year growth rates cannot be calculated. The free cash flow is negative at -24.4 billion TWD, driven by capital expenditures of 35.7 billion TWD against operating cash flow of 24.7 billion TWD. This indicates significant reinvestment in the fleet or infrastructure, which may support future capacity but pressures near-term cash generation.

Risk assessment indicates low liquidity risk and low dilution risk, with no immediate filing-based flags detected. The company’s strong cash position and low debt levels mitigate financial distress risk. However, the negative free cash flow and modest returns on capital suggest operational efficiency or pricing power challenges. The low classification confidence of 0.20 may indicate data quality issues or unusual accounting treatments, warranting caution in relying on automated metrics.

Recent IR observations show a mean analyst price target of 68.33 TWD, implying upside from the current market price of 53.0 TWD. The mean recommendation is 1.60, with three strong buys, one buy, and one hold, reflecting positive analyst sentiment. The high price target of 69.00 TWD and low of 68.00 TWD indicate a tight consensus range, suggesting analysts expect modest appreciation. No specific news events, filing observations, or transcript insights are provided to contextualize these estimates further.

Revenue TWD 38.66B, −15,1% YoY; Operating income −89,8% YoY.

• ▍Revenue TWD 38.66B, −15,1% YoY
• ▍Operating income −89,8% YoY
• ▍Net income −81,5% YoY
• ▍Free cash flow −78,0% YoY
• ▍Net margin 3.7%

Revenue TWD 37.29B, −30,3% YoY; Operating income −103,9% YoY.

• ▍Revenue TWD 37.29B, −30,3% YoY
• ▍Operating income −103,9% YoY
• ▍Net income −81,8% YoY
• ▍Free cash flow −237,8% YoY
• ▍Net margin 6.1%

Revenue TWD 42.09B, −42,2% YoY; Operating income −86,4% YoY.

• ▍Revenue TWD 42.09B, −42,2% YoY
• ▍Operating income −86,4% YoY
• ▍Net income −78,7% YoY
• ▍Free cash flow −78,3% YoY
• ▍Net margin 14.4%

Revenue TWD 38.66B, −26,5% YoY; Operating income −73,1% YoY.

• ▍Revenue TWD 38.66B, −26,5% YoY
• ▍Operating income −73,1% YoY
• ▍Net income −92,9% YoY
• ▍Free cash flow −83,7% YoY
• ▍Net margin 2.5%

Revenue TWD 45.51B; Operating income TWD 7.22B.

• ▍Revenue TWD 45.51B
• ▍Operating income TWD 7.22B
• ▍Net margin 17.1%

Revenue TWD 53.48B; Operating income TWD 13.38B.

• ▍Revenue TWD 53.48B
• ▍Operating income TWD 13.38B
• ▍Net margin 23.5%

Revenue TWD 72.84B; Operating income TWD 32.31B.

• ▍Revenue TWD 72.84B
• ▍Operating income TWD 32.31B
• ▍Net margin 38.9%

Revenue TWD 52.59B; Operating income TWD 14.13B.

• ▍Revenue TWD 52.59B
• ▍Operating income TWD 14.13B
• ▍Net margin 26.4%

Revenue TWD 163.56B, −26,6% YoY; Operating income −78,1% YoY.

• ▍Revenue TWD 163.56B, −26,6% YoY
• ▍Operating income −78,1% YoY
• ▍Net income −73,4% YoY
• ▍Free cash flow −134,7% YoY
• ▍Net margin 10.5%

Revenue TWD 222.71B, +58,4% YoY; Operating income +4 120,9% YoY.

• ▍Revenue TWD 222.71B, +58,4% YoY
• ▍Operating income +4 120,9% YoY
• ▍Net income +1 244,3% YoY
• ▍Free cash flow +219,2% YoY
• ▍Net margin 28.8%

Revenue TWD 140.62B, −62,6% YoY; Operating income −100,8% YoY.

• ▍Revenue TWD 140.62B, −62,6% YoY
• ▍Operating income −100,8% YoY
• ▍Net income −97,4% YoY
• ▍Free cash flow −148,1% YoY
• ▍Net margin 3.4%

Revenue TWD 375.90B, +12,7% YoY; Operating income +7,9% YoY.

• ▍Revenue TWD 375.90B, +12,7% YoY
• ▍Operating income +7,9% YoY
• ▍Net income +9,3% YoY
• ▍Free cash flow −30,2% YoY
• ▍Net margin 48.0%