Evergreen Aviation Technologies Corporation (2645) Fair Value & Analysis
Industrials · TW · Market cap 72.5B TWD
Fair value as of: Jul 23, 2026
From 24 valuation models · updated 18 days ago
Share price −16.3% over the past month.
A solid business, but screening 41% overvalued on our models.
What matters now
- A high-quality business (quality 74/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case (143.30 TWD). The favourable scenario is already priced in.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.
How to read this chart
54‑month range 55.87 TWD – 251.50 TWD · fair‑value band 85.98 TWD – 143.30 TWD · the 193.00 TWD price screens above the 114.64 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 23, 2026.
Analysis
Evergreen Aviation Technologies Corporation (2645) currently trades at 193.00 TWD, while our model-based Fair Value estimate is 114.64 TWD, implying the stock looks roughly 40.6% overvalued today. The Quality Score stands at 74/100 (solid 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, Evergreen Aviation Technologies Corporation generated revenue of 18.7B TWD at a net margin of 13.1%. Revenue grew 13.1% year over year. It earns a return on equity of 19.8%. Net debt stands at 2.0B TWD. Fundamentals as of Jul 23, 2026
Our scenario range runs from 85.98 TWD (bear case) to 143.30 TWD (bull case); at 193.00 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 13% below its 52-week high and 97% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -59% fair-value upside, at -41%, 2645 screens cheaper 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 24 models by family
Widest divergence: DCF Models (139.23 TWD) versus Asset-Based (24.26 TWD). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 72 · Market factors (momentum, volatility) 72
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 Aviation Technologies Corporation provides aircraft maintenance services to airline partners in Taiwan and internationally. The company's services include ramp maintenance and aircraft on ground (AOG) services. It also offers heavy maintenance visits and base services, aircraft conversion, and component line replacement unit overhauls.
Full company description
Evergreen Aviation Technologies Corporation provides aircraft maintenance services to airline partners in Taiwan and internationally. The company's services include ramp maintenance and aircraft on ground (AOG) services. It also offers heavy maintenance visits and base services, aircraft conversion, and component line replacement unit overhauls. Evergreen Aviation Technologies Corporation was founded in 1991 and is based in Taoyuan City, Taiwan. Evergreen Aviation Technologies Corporation operates as a subsidiary of EVA Airways Corp.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Evergreen Aviation Technologies Corporation reported revenue of 18.2B TWD in FY2025 versus 9.6B TWD in FY2021, a compound +17.3%/yr. Reported net income was 2.0B TWD in FY2025, compounding +23.4%/yr from FY2021.
2645 screens 41% overvalued. Compare with General Electric Company →
Peer Group
Aerospace & Defense · 226 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 Aerospace & Defense 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 Aerospace & Defense stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| General Electric Company GE | $381.22 | $116.71 | -69% |
| RTX Corporation RTX | $195.93 | $88.37 | -55% |
| Airbus SE 1AIR | €213.25 | €86.20 | -60% |
| The Boeing Company BA | $217.11 | $48.20 | -78% |
| China CSSC Holdings 600150 | ¥34.31 | ¥21.90 | -36% |
| HD Hyundai Heavy Industries Co 329180 | 466,000 KRW | 272,966 KRW | -41% |
| Hanwha Aerospace Co 012450 | 967,000 KRW | 573,468 KRW | -41% |
| ASELSAN Elektronik Sanayi ve Ticaret Anonim Sirketi ASELS | 337.50 TRY | 130.70 TRY | -61% |
| Saab AB SAABB | kr 520.40 | kr 212.84 | -59% |
| Kongsberg Gruppen ASA KOG | kr 277.50 | kr 106.93 | -61% |
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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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