Evergreen Marine Corporation (2603) Fair Value & Analysis
Industrials · TW · Market cap 429B TWD
Fair value as of: Jul 19, 2026
From 26 valuation models · updated 19 days ago
Fair value updated Jul 19, 2026, revised from 582.03 TWD to 240.17 TWD (−58.7%) since Jul 7, 2026. Share price +5.9% over the past month.
A solid business, screening 16% undervalued on our models.
What matters now
- Our model range runs from 180.07 TWD (bear) to 300.27 TWD (bull), base 240.17 TWD. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 60/100 (solid quality) with high evidence: the data supports the verdict.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.
How to read this chart
60‑month range 8.62 TWD – 260.50 TWD · fair‑value band 180.07 TWD – 300.27 TWD · the 207.50 TWD price screens below the 240.17 TWD fair value. Dashed = 300-day average. As of Jul 19, 2026.
Analysis
Evergreen Marine Corporation (2603) currently trades at 207.50 TWD, while our model-based Fair Value estimate is 240.17 TWD, implying the stock looks roughly 15.7% undervalued today. We read business quality at 60/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Evergreen Marine Corporation generated revenue of 356B TWD at a net margin of 13.9%. Revenue declined 21.3% year over year. It earns a return on equity of 8.2%. Net debt stands at 1.2B TWD. Fundamentals as of Jul 19, 2026
Our scenario range runs from 180.07 TWD (bear case) to 300.27 TWD (bull case); at 207.50 TWD, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 16% below its 52-week high and 19% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 69% fair-value upside, at 16%, 2603 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: DCF Models (828.17 TWD) versus Asset-Based (174.48 TWD). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 63 · Market factors (momentum, volatility) 53
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Evergreen Marine Corporation (Taiwan) Ltd., together with its subsidiaries, engages in the shipping carrier and agency, container terminal operations, and commercial port area ship repair businesses in Taiwan, North America, Europe, Asia, and internationally.
Full company description
Evergreen Marine Corporation (Taiwan) Ltd., together with its subsidiaries, engages in the shipping carrier and agency, container terminal operations, and commercial port area ship repair businesses in Taiwan, North America, Europe, Asia, and internationally. The company provides cargo loading and discharging, terminal, inland transportation, real estate leasing, security, computer system, terminal logistics, leasing storehouse, management consultancy and self-owned property leasing, and container shipping services; inspections of containers at the custom house; storage, repair, and cleaning for containers; agency services dealing with port formalities; and data processing and information technology consulting services. In addition, it manufactures dry steel containers and parts; distributes containers; invests in transportation-related business, and counter yards and port terminals; and invests in and leases operating machinery and equipment of port terminals. Evergreen Marine Corporation (Taiwan) Ltd. was founded in 1968 and is based in Taipei, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Evergreen Marine Corporation reported revenue of 379B TWD in FY2025 versus 489B TWD in FY2021, a compound −6.2%/yr. Reported net income was 68.6B TWD in FY2025, compounding −26.8%/yr from FY2021.
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Peer Group
Marine Shipping · 227 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Marine Shipping median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Marine Shipping stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Adani Ports and Special Economic Zone Limited ADANIPORTS | ₹1,828 | ₹1,041 | -43% |
| A.P. Møller - Mærsk A/S MAERSKA | kr 16,520 | kr 3,033 | -82% |
| COSCO SHIPPING Holdings 601919 | ¥13.98 | ¥40.37 | +189% |
| Shanghai International Port (Group) Co 600018 | ¥5.17 | ¥6.57 | +27% |
| HMM Co 011200 | 20,050 KRW | 33,855 KRW | +69% |
| Ningbo Zhoushan Port Company 601018 | ¥3.30 | ¥5.58 | +69% |
| Qingdao Port International Co 601298 | ¥8.07 | ¥16.97 | +110% |
| JSW Infrastructure Limited JSWINFRA | ₹330.05 | ₹126.31 | -62% |
| Wan Hai Lines Ltd 2615 | 80.70 TWD | 212.79 TWD | +164% |
| Wallenius Wilhelmsen ASA WAWI | kr 137.70 | kr 50.56 | -63% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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