Yang Ming Marine Transport Corporation (2609) Fair Value & Analysis
Industrials · TW · Market cap 176B TWD
Fair value as of: Jul 13, 2026
From 26 valuation models · updated 27 days ago
Fair value updated Jul 13, 2026, revised from 96.14 TWD to 33.65 TWD (−65.0%) since Jun 25, 2026. Share price −3.4% over the past month.
Below-average quality, and screening another 33% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (39.89 TWD). The favourable scenario is already priced in.
- Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.
How to read this chart
60‑month range 14.76 TWD – 122.68 TWD · fair‑value band 26.20 TWD – 39.89 TWD · the 50.50 TWD price screens above the 33.65 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.
Analysis
Yang Ming Marine Transport Corporation (2609) currently trades at 50.50 TWD, while our model-based Fair Value estimate is 33.65 TWD, implying the stock looks roughly 33.4% overvalued today. The Quality Score stands at 48/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Yang Ming Marine Transport Corporation generated revenue of 157B TWD at a net margin of 6.9%. Revenue declined 15.1% year over year. It earns a return on equity of 3.2%. The balance sheet holds a net cash position of 86.8B TWD. Fundamentals as of Jul 13, 2026
Our scenario range runs from 26.20 TWD (bear case) to 39.89 TWD (bull case); at 50.50 TWD, the current price sits above 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 34% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 67% fair-value upside, at -33%, 2609 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: Dividend Discount (114.52 TWD) versus Earnings-Based (32.85 TWD). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 50 · Market factors (momentum, volatility) 40
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
Yang Ming Marine Transport Corporation, together with its subsidiaries, provides shipping, repair, and chartering services in Taiwan, the America, Europe, Asia, and internationally. The company purchases and sells ships, containers, and chassis. It acts as a property, shipping, and forwarding and inland forwarding agent, as well as a shipping manager.
Full company description
Yang Ming Marine Transport Corporation, together with its subsidiaries, provides shipping, repair, and chartering services in Taiwan, the America, Europe, Asia, and internationally. The company purchases and sells ships, containers, and chassis. It acts as a property, shipping, and forwarding and inland forwarding agent, as well as a shipping manager. In addition, it provides warehouse and terminal operations, as well as container haulage services, information system, insurance, cargo consolidation, container transportation, stevedoring, and logistics services. Further, it imports and exports; storage and delivery; and other warehousing related business. Yang Ming Marine Transport Corporation was incorporated in 1972 and is headquartered in Keelung, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Yang Ming Marine Transport Corporation reported revenue of 164B TWD in FY2025 versus 334B TWD in FY2021, a compound −16.3%/yr. Reported net income was 17.1B TWD in FY2025, compounding −43.3%/yr from FY2021.
2609 screens 33% overvalued. Compare with Adani Ports and Special Economic Zone Limited →
Peer Group
Marine Shipping · 231 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.
VALUE 0: the price sits above our fair-value range.
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 13, 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 | ¥3.35 | ¥5.58 | +67% |
| Qingdao Port International Co 601298 | ¥8.88 | ¥15.97 | +80% |
| 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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