Wan Hai Lines（2615）株式概要Wan Hai Lines Ltd.は、アジア、中東、インド、紅海、米国、南米でコンテナ船事業を展開している。 詳細2615 ファンダメンタル分析スノーフレーク・スコア評価5/6将来の成長0/6過去の実績1/6財務の健全性6/6配当金3/6報酬当社が推定した公正価値より34.5%で取引されている 同業他社や業界と比較して、良好な取引価格 リスク分析今後3年間の収益は年平均11.9%減少すると予測されている。 4.35%の配当はフリーキャッシュフローで十分にカバーされていない すべてのリスクチェックを見る2615 Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.NEW491,559 membersJoin community and earn perksGain real feedbackFrom our editorial team, personally. Not silence.Grow your followingReal investors. The kind who actually invest, not scroll past.Unlock free accessFree premium subscription for consistent and quality authors.Learn moreCreate NarrativeBLINROAG491,559 investors already sharing narrativesYour Fair ValueNT$Current PriceNT$80.501.3% 割安 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture0270b2016201920222025202620282031Revenue NT$184.6bEarnings NT$41.0bAdvancedSet Fair ValueView all narrativesWan Hai Lines Ltd. 競合他社Yang Ming Marine TransportSymbol: TWSE:2609Market cap: NT$171.1bEvergreen Marine Corporation (Taiwan)Symbol: TWSE:2603Market cap: NT$424.3bWisdom Marine Lines Limited (Cayman)Symbol: TWSE:2637Market cap: NT$59.0bU-Ming Marine TransportSymbol: TWSE:2606Market cap: NT$52.1b価格と性能株価の高値、安値、推移の概要Wan Hai Lines過去の株価現在の株価NT$80.5052週高値NT$93.7052週安値NT$73.00ベータ0.741ヶ月の変化0.12%3ヶ月変化8.78%1年変化-11.83%3年間の変化63.29%5年間の変化-52.96%IPOからの変化416.05%最新ニュースUpcoming Dividend • Jun 29Upcoming dividend of NT$3.00 per shareEligible shareholders must have bought the stock before 06 July 2026. Payment date: 31 July 2026. Payout ratio is a comfortable 29% but the company is paying out more than the cash it is generating. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (5.0%). Lower than average of industry peers (6.3%).Major Estimate Revision • Jun 26Consensus EPS estimates increase by 14%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from NT$10.04 to NT$11.49. Revenue forecast unchanged at NT$146.2b. Net income forecast to grow 0.5% next year vs 9.5% growth forecast for Shipping industry in Taiwan. Consensus price target down from NT$133 to NT$127. Share price fell 4.7% to NT$76.60 over the past week.Declared Dividend • Jun 13Dividend reduced to NT$3.00Dividend of NT$3.00 is 14% lower than last year. Ex-date: 6th July 2026 Payment date: 31st July 2026 Dividend yield will be 3.5%, which is lower than the industry average of 32%. Sustainability & Growth Dividend is covered by earnings (29% earnings payout ratio) but not covered by cash flows (188% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 12% over the next year. However, it would need to fall by 68% to increase the payout ratio to a potentially unsustainable range.Reported Earnings • May 16First quarter 2026 earnings: EPS exceeds analyst expectationsFirst quarter 2026 results: EPS: NT$2.00 (down from NT$3.11 in 1Q 2025). Revenue: NT$33.6b (down 9.3% from 1Q 2025). Net income: NT$7.67b (down 12% from 1Q 2025). Profit margin: 23% (in line with 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.7%. Revenue is forecast to grow 7.1% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Shipping industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.Price Target Changed • May 09Price target increased by 8.0% to NT$88.00Up from NT$81.50, the current price target is an average from 4 analysts. New target price is 15% above last closing price of NT$76.50. Stock is down 12% over the past year. The company is forecast to post earnings per share of NT$9.05 for next year compared to NT$11.21 last year.Major Estimate Revision • Mar 27Consensus EPS estimates increase by 18%The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from NT$133.3b to NT$145.2b. EPS estimate increased from NT$7.56 to NT$8.95 per share. Net income forecast to shrink 12% next year vs 4.3% decline forecast for Shipping industry in Taiwan. Consensus price target down from NT$89.94 to NT$81.67. Share price fell 4.8% to NT$75.20 over the past week.最新情報をもっと見るRecent updatesUpcoming Dividend • Jun 29Upcoming dividend of NT$3.00 per shareEligible shareholders must have bought the stock before 06 July 2026. Payment date: 31 July 2026. Payout ratio is a comfortable 29% but the company is paying out more than the cash it is generating. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (5.0%). Lower than average of industry peers (6.3%).Major Estimate Revision • Jun 26Consensus EPS estimates increase by 14%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from NT$10.04 to NT$11.49. Revenue forecast unchanged at NT$146.2b. Net income forecast to grow 0.5% next year vs 9.5% growth forecast for Shipping industry in Taiwan. Consensus price target down from NT$133 to NT$127. Share price fell 4.7% to NT$76.60 over the past week.Declared Dividend • Jun 13Dividend reduced to NT$3.00Dividend of NT$3.00 is 14% lower than last year. Ex-date: 6th July 2026 Payment date: 31st July 2026 Dividend yield will be 3.5%, which is lower than the industry average of 32%. Sustainability & Growth Dividend is covered by earnings (29% earnings payout ratio) but not covered by cash flows (188% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 12% over the next year. However, it would need to fall by 68% to increase the payout ratio to a potentially unsustainable range.Reported Earnings • May 16First quarter 2026 earnings: EPS exceeds analyst expectationsFirst quarter 2026 results: EPS: NT$2.00 (down from NT$3.11 in 1Q 2025). Revenue: NT$33.6b (down 9.3% from 1Q 2025). Net income: NT$7.67b (down 12% from 1Q 2025). Profit margin: 23% (in line with 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.7%. Revenue is forecast to grow 7.1% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Shipping industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.Price Target Changed • May 09Price target increased by 8.0% to NT$88.00Up from NT$81.50, the current price target is an average from 4 analysts. New target price is 15% above last closing price of NT$76.50. Stock is down 12% over the past year. The company is forecast to post earnings per share of NT$9.05 for next year compared to NT$11.21 last year.Major Estimate Revision • Mar 27Consensus EPS estimates increase by 18%The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from NT$133.3b to NT$145.2b. EPS estimate increased from NT$7.56 to NT$8.95 per share. Net income forecast to shrink 12% next year vs 4.3% decline forecast for Shipping industry in Taiwan. Consensus price target down from NT$89.94 to NT$81.67. Share price fell 4.8% to NT$75.20 over the past week.Price Target Changed • Mar 21Price target decreased by 8.8% to NT$73.00Down from NT$80.00, the current price target is provided by 1 analyst. New target price is 7.6% below last closing price of NT$79.00. Stock is down 8.2% over the past year. The company is forecast to post earnings per share of NT$9.10 for next year compared to NT$11.21 last year.Reported Earnings • Mar 14Full year 2025 earnings: EPS exceeds analyst expectationsFull year 2025 results: EPS: NT$11.21 (down from NT$16.90 in FY 2024). Revenue: NT$140.4b (down 13% from FY 2024). Net income: NT$31.5b (down 34% from FY 2024). Profit margin: 22% (down from 29% in FY 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 15%. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.お知らせ • Jan 23Wan Hai Lines Ltd., Annual General Meeting, May 28, 2026Wan Hai Lines Ltd., Annual General Meeting, May 28, 2026. Location: 2 floor no,399, jui kuang rd., neihu district, taipei city TaiwanMajor Estimate Revision • Nov 21Consensus EPS estimates increase by 32%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from NT$139.5b to NT$140.9b. EPS estimate increased from NT$7.43 to NT$9.79 per share. Net income forecast to shrink 33% next year vs 27% decline forecast for Shipping industry in Taiwan. Consensus price target up from NT$80.00 to NT$84.33. Share price fell 3.4% to NT$79.70 over the past week.Reported Earnings • Nov 14Third quarter 2025 earnings released: EPS: NT$4.15 (vs NT$6.57 in 3Q 2024)Third quarter 2025 results: EPS: NT$4.15 (down from NT$6.57 in 3Q 2024). Revenue: NT$35.0b (down 36% from 3Q 2024). Net income: NT$11.6b (down 37% from 3Q 2024). Profit margin: 33% (in line with 3Q 2024). Revenue is expected to fall by 8.0% p.a. on average during the next 2 years compared to a 9.0% decline forecast for the Shipping industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.Price Target Changed • Aug 23Price target decreased by 34% to NT$80.00Down from NT$122, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of NT$84.10. Stock is up 5.8% over the past year. The company is forecast to post earnings per share of NT$7.07 for next year compared to NT$16.89 last year.Reported Earnings • Aug 15Second quarter 2025 earnings: EPS and revenues miss analyst expectationsSecond quarter 2025 results: EPS: NT$0.38 (down from NT$4.12 in 2Q 2024). Revenue: NT$34.9b (down 8.7% from 2Q 2024). Net income: NT$1.08b (down 91% from 2Q 2024). Profit margin: 3.1% (down from 30% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) also missed analyst estimates by 39%. Revenue is expected to fall by 17% p.a. on average during the next 2 years compared to a 11% decline forecast for the Shipping industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Jun 17Upcoming dividend of NT$3.50 per shareEligible shareholders must have bought the stock before 24 June 2025. Payment date: 23 July 2025. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (9.5%).Declared Dividend • May 31Dividend increased to NT$3.50Dividend of NT$3.50 is 133% higher than last year. Ex-date: 24th June 2025 Payment date: 23rd July 2025 Dividend yield will be 3.2%, which is lower than the industry average of 32%. Sustainability & Growth Dividend is well covered by both earnings (19% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 24% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 54% over the next year. However, it would need to fall by 79% to increase the payout ratio to a potentially unsustainable range.お知らせ • May 30Wan Hai Lines Ltd. Announces Cash Dividends, Payable on 23, 2025Wan Hai Lines Ltd. announced Cash dividends of TWD 9,821,512,026 (TWD 3.5 per share). Ex-rights (ex-dividend) trading date is June 24, 2025. Ex-rights (ex-dividend) record date is June 30, 2025. Payment date of common stock cash dividend distribution is July 23, 2025.Valuation Update With 7 Day Price Move • May 21Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$115, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Shipping industry in Taiwan. Negligible returns to shareholders over past three years.Price Target Changed • May 17Price target increased by 9.7% to NT$97.67Up from NT$89.00, the current price target is an average from 3 analysts. New target price is 12% below last closing price of NT$111. Stock is up 59% over the past year. The company is forecast to post earnings per share of NT$9.32 for next year compared to NT$16.89 last year.Reported Earnings • May 15First quarter 2025 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2025 results: EPS: NT$3.11 (up from NT$1.65 in 1Q 2024). Revenue: NT$37.1b (up 34% from 1Q 2024). Net income: NT$8.73b (up 89% from 1Q 2024). Profit margin: 24% (up from 17% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is expected to fall by 15% p.a. on average during the next 2 years compared to a 11% decline forecast for the Shipping industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance.お知らせ • May 06Wan Hai Lines Ltd. to Report Q1, 2025 Results on May 13, 2025Wan Hai Lines Ltd. announced that they will report Q1, 2025 results on May 13, 2025New Risk • Apr 14New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 8.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 35% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (8.9% average weekly change).Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$67.80, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Shipping industry in Taiwan. Total loss to shareholders of 38% over the past three years.New Risk • Mar 27New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 37% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 37% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Major Estimate Revision • Mar 26Consensus revenue estimates increase by 14%The consensus outlook for revenues in fiscal year 2025 has improved. 2025 revenue forecast increased from NT$124.4b to NT$142.1b. EPS estimate increased from NT$8.24 to NT$9.01 per share. Net income forecast to shrink 51% next year vs 35% decline forecast for Shipping industry in Taiwan. Consensus price target up from NT$71.33 to NT$80.70. Share price fell 5.3% to NT$83.30 over the past week.Reported Earnings • Mar 14Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2024 results: EPS: NT$16.89 (up from NT$2.07 loss in FY 2023). Revenue: NT$161.8b (up 61% from FY 2023). Net income: NT$47.4b (up NT$53.2b from FY 2023). Profit margin: 29% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 7.9%. Earnings per share (EPS) missed analyst estimates by 3.7%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance.お知らせ • Mar 04Wan Hai Lines Ltd. to Report Q4, 2024 Results on Mar 11, 2025Wan Hai Lines Ltd. announced that they will report Q4, 2024 results on Mar 11, 2025お知らせ • Jan 20Wan Hai Lines Ltd., Annual General Meeting, May 29, 2025Wan Hai Lines Ltd., Annual General Meeting, May 29, 2025. Location: 2 floor no,12, chou tzu st., neihu district, taipei city TaiwanNew Risk • Nov 15New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 34% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 34% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (8.0% average weekly change).Reported Earnings • Nov 15Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2024 results: EPS: NT$6.57 (up from NT$0.91 in 3Q 2023). Revenue: NT$54.5b (up 118% from 3Q 2023). Net income: NT$18.4b (up NT$15.9b from 3Q 2023). Profit margin: 34% (up from 10% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) missed analyst estimates by 1.6%. Revenue is forecast to decline by 14% p.a. on average during the next 2 years, while revenues in the Shipping industry in Taiwan are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance.New Risk • Nov 02New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company.Valuation Update With 7 Day Price Move • Oct 09Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$83.00, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Shipping industry in Taiwan. Total loss to shareholders of 26% over the past three years.Valuation Update With 7 Day Price Move • Sep 24Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$90.70, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Shipping industry in Taiwan. Total loss to shareholders of 38% over the past three years.Major Estimate Revision • Sep 03Consensus EPS estimates increase by 29%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from NT$152.9b to NT$166.1b. EPS estimate increased from NT$13.55 to NT$17.52 per share. Net income forecast to grow 86% next year vs 20% growth forecast for Shipping industry in Taiwan. Consensus price target of NT$71.33 unchanged from last update. Share price was steady at NT$79.50 over the past week.Reported Earnings • Aug 15Second quarter 2024 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2024 results: EPS: NT$4.12 (up from NT$0.83 loss in 2Q 2023). Revenue: NT$38.2b (up 56% from 2Q 2023). Net income: NT$11.6b (up NT$13.9b from 2Q 2023). Profit margin: 30% (up from net loss in 2Q 2023). Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) also surpassed analyst estimates by 32%. Revenue is forecast to decline by 2.9% p.a. on average during the next 2 years, while revenues in the Shipping industry in Taiwan are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings.お知らせ • Aug 03Wan Hai Lines Ltd. to Report Q2, 2024 Results on Aug 12, 2024Wan Hai Lines Ltd. announced that they will report Q2, 2024 results on Aug 12, 2024Price Target Changed • Jul 13Price target decreased by 16% to NT$71.33Down from NT$85.25, the current price target is an average from 3 analysts. New target price is 6.6% below last closing price of NT$76.40. Stock is up 52% over the past year. The company is forecast to post earnings per share of NT$11.59 next year compared to a net loss per share of NT$2.07 last year.Major Estimate Revision • Jul 13Consensus revenue estimates increase by 11%The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from NT$138.1b to NT$152.9b. EPS estimate increased from NT$9.64 to NT$11.59 per share. Net income forecast to grow 2,544% next year vs 106% growth forecast for Shipping industry in Taiwan. Consensus price target down from NT$85.25 to NT$71.33. Share price fell 8.7% to NT$76.40 over the past week.Upcoming Dividend • Jun 06Upcoming dividend of NT$1.50 per shareEligible shareholders must have bought the stock before 13 June 2024. Payment date: 12 July 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 1.5%. Lower than top quartile of Taiwanese dividend payers (4.2%). Lower than average of industry peers (3.4%).Price Target Changed • May 25Price target increased by 74% to NT$75.00Up from NT$43.00, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of NT$74.90. Stock is up 27% over the past year. The company is forecast to post earnings per share of NT$9.85 next year compared to a net loss per share of NT$2.07 last year.Major Estimate Revision • May 25Consensus revenue estimates increase by 26%The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from NT$105.6b to NT$132.8b. EPS estimate increased from NT$1.75 to NT$9.85 per share. Net income forecast to grow 2,150% next year vs 58% growth forecast for Shipping industry in Taiwan. Consensus price target of NT$75.00 unchanged from last update. Share price rose 7.0% to NT$74.90 over the past week.New Risk • May 16New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 2.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings are forecast to decline by an average of 2.7% per year for the foreseeable future. High level of non-cash earnings (28% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (0.9% net profit margin).Reported Earnings • May 16First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2024 results: EPS: NT$1.65 (up from NT$0.76 loss in 1Q 2023). Revenue: NT$27.6b (up 8.1% from 1Q 2023). Net income: NT$4.62b (up NT$6.74b from 1Q 2023). Profit margin: 17% (up from net loss in 1Q 2023). The move to profitability was primarily driven by lower expenses. Revenue missed analyst estimates by 6.8%. Earnings per share (EPS) exceeded analyst estimates by 45%. Revenue is forecast to grow 2.5% p.a. on average during the next 2 years, while revenues in the Shipping industry in Taiwan are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.Reported Earnings • Mar 16Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: NT$2.07 loss per share (down from NT$33.17 profit in FY 2022). Revenue: NT$100.2b (down 61% from FY 2022). Net loss: NT$5.80b (down 106% from profit in FY 2022). Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) missed analyst estimates. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings.お知らせ • Jan 19Wan Hai Lines Ltd., Annual General Meeting, May 28, 2024Wan Hai Lines Ltd., Annual General Meeting, May 28, 2024. Location: 2F., No.16, Sec. 4, Zhongshan N. Rd., Shilin Dist., Taipei City 111, Taiwan (R.O.C.) Taipei City Taiwan Agenda: To discuss 2023 operating report; to discuss Audit Committee review report on the 2023 financial statements; to discuss Unsecured Bonds report; to discuss Recognize 2023 financial statements & operating report; to discuss the proposal for distributing 2023 profits; and to discuss other matters.Price Target Changed • Nov 28Price target decreased by 20% to NT$43.00Down from NT$53.50, the current price target is provided by 1 analyst. New target price is 8.5% below last closing price of NT$47.00. Stock is down 37% over the past year. The company is forecast to post a net loss per share of NT$3.89 compared to earnings per share of NT$33.17 last year.Major Estimate Revision • Nov 21Consensus EPS estimates fall by 16%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$105.2b to NT$97.8b. Losses expected to increase from NT$3.35 per share to NT$3.89. Shipping industry in Taiwan expected to see average net income decline 9.3% next year. Consensus price target broadly unchanged at NT$54.50. Share price was steady at NT$46.55 over the past week.Reported Earnings • Nov 16Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2023 results: EPS: NT$0.90 (down from NT$7.97 in 3Q 2022). Revenue: NT$25.0b (down 61% from 3Q 2022). Net income: NT$2.54b (down 89% from 3Q 2022). Profit margin: 10% (down from 35% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 11%. Earnings per share (EPS) exceeded analyst estimates. Revenue is expected to fall by 6.8% p.a. on average during the next 2 years compared to a 16% decline forecast for the Shipping industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 17% per year.New Risk • Nov 15New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 147% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 147% per year for the foreseeable future. High level of non-cash earnings (21% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (12% net profit margin).Major Estimate Revision • Aug 21Consensus revenue estimates decrease by 10%, EPS upgradedThe consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from NT$112.6b to NT$100.9b. EPS estimate increased from -NT$3.91 to -NT$2.28 per share. Shipping industry in Taiwan expected to see average net income decline 72% next year. Consensus price target broadly unchanged at NT$53.50. Share price was steady at NT$49.30 over the past week.New Risk • Aug 17New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 151% per year for the foreseeable future. High level of non-cash earnings (24% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (12% net profit margin).Reported Earnings • Aug 17Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behindSecond quarter 2023 results: NT$0.83 loss per share (down from NT$10.74 profit in 2Q 2022). Revenue: NT$24.5b (down 67% from 2Q 2022). Net loss: NT$2.34b (down 108% from profit in 2Q 2022). Revenue missed analyst estimates by 15%. Earnings per share (EPS) exceeded analyst estimates by 42%. Revenue is expected to fall by 22% p.a. on average during the next 2 years compared to a 22% decline forecast for the Shipping industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 41% per year whereas the company’s share price has increased by 44% per year.Upcoming Dividend • Jun 26Upcoming dividend of NT$5.00 per share at 8.3% yieldEligible shareholders must have bought the stock before 03 July 2023. Payment date: 25 July 2023. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 8.3%. Within top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (29%).お知らせ • Jun 11Wan Hai Lines Ltd. Declares Dividend for 2022, Payable on July 25, 2023Wan Hai Lines Ltd. declared dividend distribution of TWD 5 per share to the shareholders, total amount of TWD 14,030,731,465. Ex-rights (ex-dividend) trading date is July 03, 2023; ex-rights (ex-dividend) record date is July 09, 2023 and Payment date of cash dividend distribution July 25, 2023.Price Target Changed • Apr 18Price target decreased by 20% to NT$50.00Down from NT$62.50, the current price target is provided by 1 analyst. New target price is 28% below last closing price of NT$69.00. Stock is down 49% over the past year. The company is forecast to post earnings per share of NT$0.64 for next year compared to NT$33.17 last year.Major Estimate Revision • Mar 24Consensus EPS estimates fall by 20%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$129.6b to NT$126.8b. EPS estimate also fell from NT$14.65 per share to NT$11.65 per share. Net income forecast to shrink 65% next year vs 51% decline forecast for Shipping industry in Taiwan. Consensus price target down from NT$62.50 to NT$61.00. Share price rose 2.2% to NT$70.50 over the past week.Reported Earnings • Mar 16Full year 2022 earnings: EPS and revenues miss analyst expectationsFull year 2022 results: EPS: NT$33.17 (down from NT$36.83 in FY 2021). Revenue: NT$259.0b (up 14% from FY 2021). Net income: NT$93.1b (down 9.9% from FY 2021). Profit margin: 36% (down from 45% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 7.3%. Revenue is expected to fall by 41% p.a. on average during the next 2 years compared to a 36% decline forecast for the Shipping industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has increased by 94% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • Jan 19Wan Hai Lines Ltd., Annual General Meeting, May 30, 2023Wan Hai Lines Ltd., Annual General Meeting, May 30, 2023. Location: 2F., No.16, Sec. 4, Zhongshan N. Rd., Shilin Dist. Taipei City Taiwan Agenda: To consider 2022 employees' and directors' compensation report, to consider 2022 operating report, to consider Audit Committee's review report on the 2022 financial statements, to consider Unsecured Bonds report, to consider and recognize 2022 financial statements & operating report, to consider and recognize the proposal for distributing 2022 profits, to consider amendments to the Articles of Incorporation, to consider amendments to the Rules of Procedure for Shareholders Meetings; and to consider any other matters.Price Target Changed • Jan 03Price target decreased to NT$62.50Down from NT$96.58, the current price target is an average from 2 analysts. New target price is 22% below last closing price of NT$80.10. Stock is down 51% over the past year. The company is forecast to post earnings per share of NT$35.66 for next year compared to NT$36.83 last year.Reported Earnings • Nov 16Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2022 results: EPS: NT$7.97 (down from NT$12.67 in 3Q 2021). Revenue: NT$63.8b (down 9.8% from 3Q 2021). Net income: NT$22.4b (down 37% from 3Q 2021). Profit margin: 35% (down from 50% in 3Q 2021). The decrease in margin was primarily driven by higher expenses. Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) missed analyst estimates by 3.8%. Revenue is expected to fall by 34% p.a. on average during the next 3 years compared to a 36% decline forecast for the Shipping industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 73% per year, which means it is significantly lagging earnings growth.Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 1 experienced director. 8 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Yi-Sheng Tseng was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Reported Earnings • Nov 13Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2022 results: EPS: NT$7.97 (down from NT$12.67 in 3Q 2021). Revenue: NT$63.8b (down 9.8% from 3Q 2021). Net income: NT$22.4b (down 37% from 3Q 2021). Profit margin: 35% (down from 50% in 3Q 2021). The decrease in margin was primarily driven by higher expenses. Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) missed analyst estimates by 3.8%. Revenue is expected to fall by 34% p.a. on average during the next 3 years compared to a 35% decline forecast for the Shipping industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 73% per year, which means it is significantly lagging earnings growth.Price Target Changed • Sep 15Price target decreased to NT$109Down from NT$132, the current price target is an average from 2 analysts. New target price is 35% above last closing price of NT$80.70. Stock is down 54% over the past year. The company is forecast to post earnings per share of NT$39.70 for next year compared to NT$36.83 last year.Reported Earnings • Aug 13Second quarter 2022 earnings: EPS misses analyst expectationsSecond quarter 2022 results: EPS: NT$10.74 (up from NT$6.77 in 2Q 2021). Revenue: NT$75.1b (up 56% from 2Q 2021). Net income: NT$30.1b (up 59% from 2Q 2021). Profit margin: 40% (in line with 2Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Over the next year, revenue is expected to shrink by 21% compared to a 1.5% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 89% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Jul 19Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$131, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 4x in the Shipping industry in Asia. Total returns to shareholders of 668% over the past three years.Upcoming Dividend • Jul 13Upcoming dividend of NT$10.50 per shareEligible shareholders must have bought the stock before 20 July 2022. Payment date: 18 August 2022. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 9.3%. Within top quartile of Taiwanese dividend payers (6.9%). Lower than average of industry peers (18%).Valuation Update With 7 Day Price Move • Jun 16Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to NT$131, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 4x in the Shipping industry in Asia. Total returns to shareholders of 764% over the past three years.Price Target Changed • Jun 07Price target decreased to NT$175Down from NT$195, the current price target is an average from 2 analysts. New target price is 9.9% above last closing price of NT$159. Stock is up 6.0% over the past year. The company is forecast to post earnings per share of NT$53.85 for next year compared to NT$42.35 last year.Reported Earnings • May 17First quarter 2022 earnings: EPS in line with expectations, revenues disappointFirst quarter 2022 results: EPS: NT$16.64 (up from NT$6.02 in 1Q 2021). Revenue: NT$80.5b (up 109% from 1Q 2021). Net income: NT$40.6b (up 176% from 1Q 2021). Profit margin: 50% (up from 38% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 121% per year but the company’s share price has only increased by 108% per year, which means it is significantly lagging earnings growth.Price Target Changed • Apr 27Price target increased to NT$230Up from NT$205, the current price target is provided by 1 analyst. New target price is 60% above last closing price of NT$144. Stock is up 71% over the past year. The company is forecast to post earnings per share of NT$45.11 for next year compared to NT$42.35 last year.Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Yi-Sheng Tseng was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Mar 17Full year 2021 earnings: EPS and revenues miss analyst expectationsFull year 2021 results: EPS: NT$42.35 (up from NT$4.64 in FY 2020). Revenue: NT$228.0b (up 179% from FY 2020). Net income: NT$103.3b (up NT$92.0b from FY 2020). Profit margin: 45% (up from 14% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 2.9%. Over the next year, revenue is expected to shrink by 6.0% compared to a 25% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 125% per year whereas the company’s share price has increased by 126% per year.Valuation Update With 7 Day Price Move • Feb 08Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$172, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Shipping industry in Taiwan. Total returns to shareholders of 1,176% over the past three years.お知らせ • Jan 30Wan Hai Lines Ltd., Annual General Meeting, May 26, 2022Wan Hai Lines Ltd., Annual General Meeting, May 26, 2022. Location: 2F., No.16, Sec. 4, Zhongshan N. Rd., Shilin Dist Taipei City 111, Taiwan Taipei Taiwan Agenda: To discuss operating report; to Recognize 2021 financial statements & operating report; and to Recognize the proposal for distributing 2021 profits.Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS NT$14.57 (vs NT$0.74 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$70.7b (up 260% from 3Q 2020). Net income: NT$35.5b (up NT$33.8b from 3Q 2020). Profit margin: 50% (up from 9.1% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 124% per year whereas the company’s share price has increased by 123% per year.Valuation Update With 7 Day Price Move • Oct 04Investor sentiment deteriorated over the past weekAfter last week's 20% share price decline to NT$166, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Shipping industry in Taiwan. Total returns to shareholders of 1,117% over the past three years.Valuation Update With 7 Day Price Move • Sep 09Investor sentiment deteriorated over the past weekAfter last week's 20% share price decline to NT$208, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 10x in the Shipping industry in Asia. Total returns to shareholders of 1,199% over the past three years.Upcoming Dividend • Aug 31Upcoming dividend of NT$1.00 per shareEligible shareholders must have bought the stock before 07 September 2021. Payment date: 29 September 2021. Trailing yield: 0.4%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (1.2%).Valuation Update With 7 Day Price Move • Aug 23Investor sentiment improved over the past weekAfter last week's 15% share price gain to NT$248, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 10x in the Shipping industry in Asia. Total returns to shareholders of 1,476% over the past three years.Reported Earnings • Aug 18Second quarter 2021 earnings released: EPS NT$8.56 (vs NT$0.76 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$48.0b (up 195% from 2Q 2020). Net income: NT$19.0b (up NT$17.3b from 2Q 2020). Profit margin: 40% (up from 10% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has increased by 136% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Jul 23Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to NT$240, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 10x in the Shipping industry in Asia. Total returns to shareholders of 1,430% over the past three years.Valuation Update With 7 Day Price Move • Jul 02Investor sentiment improved over the past weekAfter last week's 35% share price gain to NT$336, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 11x in the Shipping industry in Asia. Total returns to shareholders of 2,106% over the past three years.Valuation Update With 7 Day Price Move • Jun 16Investor sentiment improved over the past weekAfter last week's 20% share price gain to NT$192, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 11x in the Shipping industry in Asia. Total returns to shareholders of 1,169% over the past three years.Valuation Update With 7 Day Price Move • May 20Investor sentiment improved over the past weekAfter last week's 30% share price gain to NT$104, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Shipping industry in Asia. Total returns to shareholders of 599% over the past three years.Reported Earnings • May 14First quarter 2021 earnings released: EPS NT$6.62 (vs NT$0.038 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$38.6b (up 114% from 1Q 2020). Net income: NT$14.7b (up NT$14.6b from 1Q 2020). Profit margin: 38% (up from 0.5% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 70% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • May 02Investor sentiment improved over the past weekAfter last week's 15% share price gain to NT$94.70, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Shipping industry in Taiwan. Total returns to shareholders of 513% over the past three years.Major Estimate Revision • Apr 21Consensus EPS estimates increase to NT$19.98The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from NT$124.9b to NT$130.1b. EPS estimate increased from NT$14.88 to NT$19.98 per share. Net income forecast to grow 292% next year vs 199% growth forecast for Shipping industry in Taiwan. Consensus price target up from NT$62.00 to NT$73.00. Share price rose 37% to NT$89.60 over the past week.株主還元2615TW ShippingTW 市場7D1.6%-1.0%-6.3%1Y-11.8%-5.6%80.7%株主還元を見る業界別リターン: 2615過去 1 年間で-5.6 % の収益を上げたTW Shipping業界を下回りました。リターン対市場: 2615は、過去 1 年間で80.7 % のリターンを上げたTW市場を下回りました。価格変動Is 2615's price volatile compared to industry and market?2615 volatility2615 Average Weekly Movement4.3%Shipping Industry Average Movement4.5%Market Average Movement6.6%10% most volatile stocks in TW Market12.1%10% least volatile stocks in TW Market2.6%安定した株価: 2615 、 TW市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: 2615の 週次ボラティリティ ( 4% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト1965n/aTommy Hsiehwww.wanhai.comワン・ハイ・ラインズ社は、アジア、中東、インド、紅海、米国、南米でコンテナ船事業を展開している。国際海上輸送、貨物輸送、コンテナ管理を行う。また、貨物追跡・ターミナル情報、輸送スケジュール、ドキュメンテーション、その他のサービス、保管・物流、海運代理店、コンテナ保管、情報ソフトウェアサービスも提供している。さらに、船舶やコンテナの販売・レンタル、投資事業、住宅の管理・賃貸、輸送業務の代行も行っている。万海航運は1965年に設立され、台湾の台北に本社を置いている。もっと見るWan Hai Lines Ltd. 基礎のまとめWan Hai Lines の収益と売上を時価総額と比較するとどうか。2615 基礎統計学時価総額NT$225.89b収益（TTM）NT$30.40b売上高(TTM)NT$136.90b7.4xPER（株価収益率1.7xP/Sレシオ2615 は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計2615 損益計算書（TTM）収益NT$136.90b売上原価NT$100.63b売上総利益NT$36.28bその他の費用NT$5.87b収益NT$30.40b直近の収益報告Mar 31, 2026次回決算日該当なし一株当たり利益（EPS）10.83グロス・マージン26.50%純利益率22.21%有利子負債／自己資本比率17.8%2615 の長期的なパフォーマンスは？過去の実績と比較を見る配当金4.3%現在の配当利回り29%配当性向2615 配当は確実ですか？2615 配当履歴とベンチマークを見る2615 、いつまでに購入すれば配当金を受け取れますか？Wan Hai Lines 配当日配当落ち日Jul 06 2026配当支払日Jul 31 2026配当落ちまでの日数15 days配当支払日までの日数10 days2615 配当は確実ですか？2615 配当履歴とベンチマークを見るView Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/07/20 21:19終値2026/07/20 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Wan Hai Lines Ltd. 3 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。19 アナリスト機関Jonathan WindhamBarclaysNathan GeeBofA Global ResearchYayue HsuehCapital Securities Corporation16 その他のアナリストを表示
Upcoming Dividend • Jun 29Upcoming dividend of NT$3.00 per shareEligible shareholders must have bought the stock before 06 July 2026. Payment date: 31 July 2026. Payout ratio is a comfortable 29% but the company is paying out more than the cash it is generating. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (5.0%). Lower than average of industry peers (6.3%).
Major Estimate Revision • Jun 26Consensus EPS estimates increase by 14%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from NT$10.04 to NT$11.49. Revenue forecast unchanged at NT$146.2b. Net income forecast to grow 0.5% next year vs 9.5% growth forecast for Shipping industry in Taiwan. Consensus price target down from NT$133 to NT$127. Share price fell 4.7% to NT$76.60 over the past week.
Declared Dividend • Jun 13Dividend reduced to NT$3.00Dividend of NT$3.00 is 14% lower than last year. Ex-date: 6th July 2026 Payment date: 31st July 2026 Dividend yield will be 3.5%, which is lower than the industry average of 32%. Sustainability & Growth Dividend is covered by earnings (29% earnings payout ratio) but not covered by cash flows (188% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 12% over the next year. However, it would need to fall by 68% to increase the payout ratio to a potentially unsustainable range.
Reported Earnings • May 16First quarter 2026 earnings: EPS exceeds analyst expectationsFirst quarter 2026 results: EPS: NT$2.00 (down from NT$3.11 in 1Q 2025). Revenue: NT$33.6b (down 9.3% from 1Q 2025). Net income: NT$7.67b (down 12% from 1Q 2025). Profit margin: 23% (in line with 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.7%. Revenue is forecast to grow 7.1% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Shipping industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.
Price Target Changed • May 09Price target increased by 8.0% to NT$88.00Up from NT$81.50, the current price target is an average from 4 analysts. New target price is 15% above last closing price of NT$76.50. Stock is down 12% over the past year. The company is forecast to post earnings per share of NT$9.05 for next year compared to NT$11.21 last year.
Major Estimate Revision • Mar 27Consensus EPS estimates increase by 18%The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from NT$133.3b to NT$145.2b. EPS estimate increased from NT$7.56 to NT$8.95 per share. Net income forecast to shrink 12% next year vs 4.3% decline forecast for Shipping industry in Taiwan. Consensus price target down from NT$89.94 to NT$81.67. Share price fell 4.8% to NT$75.20 over the past week.
Upcoming Dividend • Jun 29Upcoming dividend of NT$3.00 per shareEligible shareholders must have bought the stock before 06 July 2026. Payment date: 31 July 2026. Payout ratio is a comfortable 29% but the company is paying out more than the cash it is generating. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (5.0%). Lower than average of industry peers (6.3%).
Major Estimate Revision • Jun 26Consensus EPS estimates increase by 14%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from NT$10.04 to NT$11.49. Revenue forecast unchanged at NT$146.2b. Net income forecast to grow 0.5% next year vs 9.5% growth forecast for Shipping industry in Taiwan. Consensus price target down from NT$133 to NT$127. Share price fell 4.7% to NT$76.60 over the past week.
Declared Dividend • Jun 13Dividend reduced to NT$3.00Dividend of NT$3.00 is 14% lower than last year. Ex-date: 6th July 2026 Payment date: 31st July 2026 Dividend yield will be 3.5%, which is lower than the industry average of 32%. Sustainability & Growth Dividend is covered by earnings (29% earnings payout ratio) but not covered by cash flows (188% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 12% over the next year. However, it would need to fall by 68% to increase the payout ratio to a potentially unsustainable range.
Reported Earnings • May 16First quarter 2026 earnings: EPS exceeds analyst expectationsFirst quarter 2026 results: EPS: NT$2.00 (down from NT$3.11 in 1Q 2025). Revenue: NT$33.6b (down 9.3% from 1Q 2025). Net income: NT$7.67b (down 12% from 1Q 2025). Profit margin: 23% (in line with 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.7%. Revenue is forecast to grow 7.1% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Shipping industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.
Price Target Changed • May 09Price target increased by 8.0% to NT$88.00Up from NT$81.50, the current price target is an average from 4 analysts. New target price is 15% above last closing price of NT$76.50. Stock is down 12% over the past year. The company is forecast to post earnings per share of NT$9.05 for next year compared to NT$11.21 last year.
Major Estimate Revision • Mar 27Consensus EPS estimates increase by 18%The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from NT$133.3b to NT$145.2b. EPS estimate increased from NT$7.56 to NT$8.95 per share. Net income forecast to shrink 12% next year vs 4.3% decline forecast for Shipping industry in Taiwan. Consensus price target down from NT$89.94 to NT$81.67. Share price fell 4.8% to NT$75.20 over the past week.
Price Target Changed • Mar 21Price target decreased by 8.8% to NT$73.00Down from NT$80.00, the current price target is provided by 1 analyst. New target price is 7.6% below last closing price of NT$79.00. Stock is down 8.2% over the past year. The company is forecast to post earnings per share of NT$9.10 for next year compared to NT$11.21 last year.
Reported Earnings • Mar 14Full year 2025 earnings: EPS exceeds analyst expectationsFull year 2025 results: EPS: NT$11.21 (down from NT$16.90 in FY 2024). Revenue: NT$140.4b (down 13% from FY 2024). Net income: NT$31.5b (down 34% from FY 2024). Profit margin: 22% (down from 29% in FY 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 15%. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.
お知らせ • Jan 23Wan Hai Lines Ltd., Annual General Meeting, May 28, 2026Wan Hai Lines Ltd., Annual General Meeting, May 28, 2026. Location: 2 floor no,399, jui kuang rd., neihu district, taipei city Taiwan
Major Estimate Revision • Nov 21Consensus EPS estimates increase by 32%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from NT$139.5b to NT$140.9b. EPS estimate increased from NT$7.43 to NT$9.79 per share. Net income forecast to shrink 33% next year vs 27% decline forecast for Shipping industry in Taiwan. Consensus price target up from NT$80.00 to NT$84.33. Share price fell 3.4% to NT$79.70 over the past week.
Reported Earnings • Nov 14Third quarter 2025 earnings released: EPS: NT$4.15 (vs NT$6.57 in 3Q 2024)Third quarter 2025 results: EPS: NT$4.15 (down from NT$6.57 in 3Q 2024). Revenue: NT$35.0b (down 36% from 3Q 2024). Net income: NT$11.6b (down 37% from 3Q 2024). Profit margin: 33% (in line with 3Q 2024). Revenue is expected to fall by 8.0% p.a. on average during the next 2 years compared to a 9.0% decline forecast for the Shipping industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.
Price Target Changed • Aug 23Price target decreased by 34% to NT$80.00Down from NT$122, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of NT$84.10. Stock is up 5.8% over the past year. The company is forecast to post earnings per share of NT$7.07 for next year compared to NT$16.89 last year.
Reported Earnings • Aug 15Second quarter 2025 earnings: EPS and revenues miss analyst expectationsSecond quarter 2025 results: EPS: NT$0.38 (down from NT$4.12 in 2Q 2024). Revenue: NT$34.9b (down 8.7% from 2Q 2024). Net income: NT$1.08b (down 91% from 2Q 2024). Profit margin: 3.1% (down from 30% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) also missed analyst estimates by 39%. Revenue is expected to fall by 17% p.a. on average during the next 2 years compared to a 11% decline forecast for the Shipping industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Jun 17Upcoming dividend of NT$3.50 per shareEligible shareholders must have bought the stock before 24 June 2025. Payment date: 23 July 2025. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (9.5%).
Declared Dividend • May 31Dividend increased to NT$3.50Dividend of NT$3.50 is 133% higher than last year. Ex-date: 24th June 2025 Payment date: 23rd July 2025 Dividend yield will be 3.2%, which is lower than the industry average of 32%. Sustainability & Growth Dividend is well covered by both earnings (19% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 24% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 54% over the next year. However, it would need to fall by 79% to increase the payout ratio to a potentially unsustainable range.
お知らせ • May 30Wan Hai Lines Ltd. Announces Cash Dividends, Payable on 23, 2025Wan Hai Lines Ltd. announced Cash dividends of TWD 9,821,512,026 (TWD 3.5 per share). Ex-rights (ex-dividend) trading date is June 24, 2025. Ex-rights (ex-dividend) record date is June 30, 2025. Payment date of common stock cash dividend distribution is July 23, 2025.
Valuation Update With 7 Day Price Move • May 21Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$115, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Shipping industry in Taiwan. Negligible returns to shareholders over past three years.
Price Target Changed • May 17Price target increased by 9.7% to NT$97.67Up from NT$89.00, the current price target is an average from 3 analysts. New target price is 12% below last closing price of NT$111. Stock is up 59% over the past year. The company is forecast to post earnings per share of NT$9.32 for next year compared to NT$16.89 last year.
Reported Earnings • May 15First quarter 2025 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2025 results: EPS: NT$3.11 (up from NT$1.65 in 1Q 2024). Revenue: NT$37.1b (up 34% from 1Q 2024). Net income: NT$8.73b (up 89% from 1Q 2024). Profit margin: 24% (up from 17% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is expected to fall by 15% p.a. on average during the next 2 years compared to a 11% decline forecast for the Shipping industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance.
お知らせ • May 06Wan Hai Lines Ltd. to Report Q1, 2025 Results on May 13, 2025Wan Hai Lines Ltd. announced that they will report Q1, 2025 results on May 13, 2025
New Risk • Apr 14New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 8.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 35% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (8.9% average weekly change).
Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$67.80, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Shipping industry in Taiwan. Total loss to shareholders of 38% over the past three years.
New Risk • Mar 27New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 37% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 37% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Major Estimate Revision • Mar 26Consensus revenue estimates increase by 14%The consensus outlook for revenues in fiscal year 2025 has improved. 2025 revenue forecast increased from NT$124.4b to NT$142.1b. EPS estimate increased from NT$8.24 to NT$9.01 per share. Net income forecast to shrink 51% next year vs 35% decline forecast for Shipping industry in Taiwan. Consensus price target up from NT$71.33 to NT$80.70. Share price fell 5.3% to NT$83.30 over the past week.
Reported Earnings • Mar 14Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2024 results: EPS: NT$16.89 (up from NT$2.07 loss in FY 2023). Revenue: NT$161.8b (up 61% from FY 2023). Net income: NT$47.4b (up NT$53.2b from FY 2023). Profit margin: 29% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 7.9%. Earnings per share (EPS) missed analyst estimates by 3.7%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance.
お知らせ • Mar 04Wan Hai Lines Ltd. to Report Q4, 2024 Results on Mar 11, 2025Wan Hai Lines Ltd. announced that they will report Q4, 2024 results on Mar 11, 2025
お知らせ • Jan 20Wan Hai Lines Ltd., Annual General Meeting, May 29, 2025Wan Hai Lines Ltd., Annual General Meeting, May 29, 2025. Location: 2 floor no,12, chou tzu st., neihu district, taipei city Taiwan
New Risk • Nov 15New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 34% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 34% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (8.0% average weekly change).
Reported Earnings • Nov 15Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2024 results: EPS: NT$6.57 (up from NT$0.91 in 3Q 2023). Revenue: NT$54.5b (up 118% from 3Q 2023). Net income: NT$18.4b (up NT$15.9b from 3Q 2023). Profit margin: 34% (up from 10% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) missed analyst estimates by 1.6%. Revenue is forecast to decline by 14% p.a. on average during the next 2 years, while revenues in the Shipping industry in Taiwan are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance.
New Risk • Nov 02New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company.
Valuation Update With 7 Day Price Move • Oct 09Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$83.00, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Shipping industry in Taiwan. Total loss to shareholders of 26% over the past three years.
Valuation Update With 7 Day Price Move • Sep 24Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$90.70, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Shipping industry in Taiwan. Total loss to shareholders of 38% over the past three years.
Major Estimate Revision • Sep 03Consensus EPS estimates increase by 29%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from NT$152.9b to NT$166.1b. EPS estimate increased from NT$13.55 to NT$17.52 per share. Net income forecast to grow 86% next year vs 20% growth forecast for Shipping industry in Taiwan. Consensus price target of NT$71.33 unchanged from last update. Share price was steady at NT$79.50 over the past week.
Reported Earnings • Aug 15Second quarter 2024 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2024 results: EPS: NT$4.12 (up from NT$0.83 loss in 2Q 2023). Revenue: NT$38.2b (up 56% from 2Q 2023). Net income: NT$11.6b (up NT$13.9b from 2Q 2023). Profit margin: 30% (up from net loss in 2Q 2023). Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) also surpassed analyst estimates by 32%. Revenue is forecast to decline by 2.9% p.a. on average during the next 2 years, while revenues in the Shipping industry in Taiwan are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings.
お知らせ • Aug 03Wan Hai Lines Ltd. to Report Q2, 2024 Results on Aug 12, 2024Wan Hai Lines Ltd. announced that they will report Q2, 2024 results on Aug 12, 2024
Price Target Changed • Jul 13Price target decreased by 16% to NT$71.33Down from NT$85.25, the current price target is an average from 3 analysts. New target price is 6.6% below last closing price of NT$76.40. Stock is up 52% over the past year. The company is forecast to post earnings per share of NT$11.59 next year compared to a net loss per share of NT$2.07 last year.
Major Estimate Revision • Jul 13Consensus revenue estimates increase by 11%The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from NT$138.1b to NT$152.9b. EPS estimate increased from NT$9.64 to NT$11.59 per share. Net income forecast to grow 2,544% next year vs 106% growth forecast for Shipping industry in Taiwan. Consensus price target down from NT$85.25 to NT$71.33. Share price fell 8.7% to NT$76.40 over the past week.
Upcoming Dividend • Jun 06Upcoming dividend of NT$1.50 per shareEligible shareholders must have bought the stock before 13 June 2024. Payment date: 12 July 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 1.5%. Lower than top quartile of Taiwanese dividend payers (4.2%). Lower than average of industry peers (3.4%).
Price Target Changed • May 25Price target increased by 74% to NT$75.00Up from NT$43.00, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of NT$74.90. Stock is up 27% over the past year. The company is forecast to post earnings per share of NT$9.85 next year compared to a net loss per share of NT$2.07 last year.
Major Estimate Revision • May 25Consensus revenue estimates increase by 26%The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from NT$105.6b to NT$132.8b. EPS estimate increased from NT$1.75 to NT$9.85 per share. Net income forecast to grow 2,150% next year vs 58% growth forecast for Shipping industry in Taiwan. Consensus price target of NT$75.00 unchanged from last update. Share price rose 7.0% to NT$74.90 over the past week.
New Risk • May 16New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 2.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings are forecast to decline by an average of 2.7% per year for the foreseeable future. High level of non-cash earnings (28% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (0.9% net profit margin).
Reported Earnings • May 16First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2024 results: EPS: NT$1.65 (up from NT$0.76 loss in 1Q 2023). Revenue: NT$27.6b (up 8.1% from 1Q 2023). Net income: NT$4.62b (up NT$6.74b from 1Q 2023). Profit margin: 17% (up from net loss in 1Q 2023). The move to profitability was primarily driven by lower expenses. Revenue missed analyst estimates by 6.8%. Earnings per share (EPS) exceeded analyst estimates by 45%. Revenue is forecast to grow 2.5% p.a. on average during the next 2 years, while revenues in the Shipping industry in Taiwan are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.
Reported Earnings • Mar 16Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: NT$2.07 loss per share (down from NT$33.17 profit in FY 2022). Revenue: NT$100.2b (down 61% from FY 2022). Net loss: NT$5.80b (down 106% from profit in FY 2022). Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) missed analyst estimates. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings.
お知らせ • Jan 19Wan Hai Lines Ltd., Annual General Meeting, May 28, 2024Wan Hai Lines Ltd., Annual General Meeting, May 28, 2024. Location: 2F., No.16, Sec. 4, Zhongshan N. Rd., Shilin Dist., Taipei City 111, Taiwan (R.O.C.) Taipei City Taiwan Agenda: To discuss 2023 operating report; to discuss Audit Committee review report on the 2023 financial statements; to discuss Unsecured Bonds report; to discuss Recognize 2023 financial statements & operating report; to discuss the proposal for distributing 2023 profits; and to discuss other matters.
Price Target Changed • Nov 28Price target decreased by 20% to NT$43.00Down from NT$53.50, the current price target is provided by 1 analyst. New target price is 8.5% below last closing price of NT$47.00. Stock is down 37% over the past year. The company is forecast to post a net loss per share of NT$3.89 compared to earnings per share of NT$33.17 last year.
Major Estimate Revision • Nov 21Consensus EPS estimates fall by 16%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$105.2b to NT$97.8b. Losses expected to increase from NT$3.35 per share to NT$3.89. Shipping industry in Taiwan expected to see average net income decline 9.3% next year. Consensus price target broadly unchanged at NT$54.50. Share price was steady at NT$46.55 over the past week.
Reported Earnings • Nov 16Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2023 results: EPS: NT$0.90 (down from NT$7.97 in 3Q 2022). Revenue: NT$25.0b (down 61% from 3Q 2022). Net income: NT$2.54b (down 89% from 3Q 2022). Profit margin: 10% (down from 35% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 11%. Earnings per share (EPS) exceeded analyst estimates. Revenue is expected to fall by 6.8% p.a. on average during the next 2 years compared to a 16% decline forecast for the Shipping industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 17% per year.
New Risk • Nov 15New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 147% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 147% per year for the foreseeable future. High level of non-cash earnings (21% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (12% net profit margin).
Major Estimate Revision • Aug 21Consensus revenue estimates decrease by 10%, EPS upgradedThe consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from NT$112.6b to NT$100.9b. EPS estimate increased from -NT$3.91 to -NT$2.28 per share. Shipping industry in Taiwan expected to see average net income decline 72% next year. Consensus price target broadly unchanged at NT$53.50. Share price was steady at NT$49.30 over the past week.
New Risk • Aug 17New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 151% per year for the foreseeable future. High level of non-cash earnings (24% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (12% net profit margin).
Reported Earnings • Aug 17Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behindSecond quarter 2023 results: NT$0.83 loss per share (down from NT$10.74 profit in 2Q 2022). Revenue: NT$24.5b (down 67% from 2Q 2022). Net loss: NT$2.34b (down 108% from profit in 2Q 2022). Revenue missed analyst estimates by 15%. Earnings per share (EPS) exceeded analyst estimates by 42%. Revenue is expected to fall by 22% p.a. on average during the next 2 years compared to a 22% decline forecast for the Shipping industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 41% per year whereas the company’s share price has increased by 44% per year.
Upcoming Dividend • Jun 26Upcoming dividend of NT$5.00 per share at 8.3% yieldEligible shareholders must have bought the stock before 03 July 2023. Payment date: 25 July 2023. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 8.3%. Within top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (29%).
お知らせ • Jun 11Wan Hai Lines Ltd. Declares Dividend for 2022, Payable on July 25, 2023Wan Hai Lines Ltd. declared dividend distribution of TWD 5 per share to the shareholders, total amount of TWD 14,030,731,465. Ex-rights (ex-dividend) trading date is July 03, 2023; ex-rights (ex-dividend) record date is July 09, 2023 and Payment date of cash dividend distribution July 25, 2023.
Price Target Changed • Apr 18Price target decreased by 20% to NT$50.00Down from NT$62.50, the current price target is provided by 1 analyst. New target price is 28% below last closing price of NT$69.00. Stock is down 49% over the past year. The company is forecast to post earnings per share of NT$0.64 for next year compared to NT$33.17 last year.
Major Estimate Revision • Mar 24Consensus EPS estimates fall by 20%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$129.6b to NT$126.8b. EPS estimate also fell from NT$14.65 per share to NT$11.65 per share. Net income forecast to shrink 65% next year vs 51% decline forecast for Shipping industry in Taiwan. Consensus price target down from NT$62.50 to NT$61.00. Share price rose 2.2% to NT$70.50 over the past week.
Reported Earnings • Mar 16Full year 2022 earnings: EPS and revenues miss analyst expectationsFull year 2022 results: EPS: NT$33.17 (down from NT$36.83 in FY 2021). Revenue: NT$259.0b (up 14% from FY 2021). Net income: NT$93.1b (down 9.9% from FY 2021). Profit margin: 36% (down from 45% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 7.3%. Revenue is expected to fall by 41% p.a. on average during the next 2 years compared to a 36% decline forecast for the Shipping industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has increased by 94% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • Jan 19Wan Hai Lines Ltd., Annual General Meeting, May 30, 2023Wan Hai Lines Ltd., Annual General Meeting, May 30, 2023. Location: 2F., No.16, Sec. 4, Zhongshan N. Rd., Shilin Dist. Taipei City Taiwan Agenda: To consider 2022 employees' and directors' compensation report, to consider 2022 operating report, to consider Audit Committee's review report on the 2022 financial statements, to consider Unsecured Bonds report, to consider and recognize 2022 financial statements & operating report, to consider and recognize the proposal for distributing 2022 profits, to consider amendments to the Articles of Incorporation, to consider amendments to the Rules of Procedure for Shareholders Meetings; and to consider any other matters.
Price Target Changed • Jan 03Price target decreased to NT$62.50Down from NT$96.58, the current price target is an average from 2 analysts. New target price is 22% below last closing price of NT$80.10. Stock is down 51% over the past year. The company is forecast to post earnings per share of NT$35.66 for next year compared to NT$36.83 last year.
Reported Earnings • Nov 16Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2022 results: EPS: NT$7.97 (down from NT$12.67 in 3Q 2021). Revenue: NT$63.8b (down 9.8% from 3Q 2021). Net income: NT$22.4b (down 37% from 3Q 2021). Profit margin: 35% (down from 50% in 3Q 2021). The decrease in margin was primarily driven by higher expenses. Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) missed analyst estimates by 3.8%. Revenue is expected to fall by 34% p.a. on average during the next 3 years compared to a 36% decline forecast for the Shipping industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 73% per year, which means it is significantly lagging earnings growth.
Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 1 experienced director. 8 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Yi-Sheng Tseng was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Reported Earnings • Nov 13Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2022 results: EPS: NT$7.97 (down from NT$12.67 in 3Q 2021). Revenue: NT$63.8b (down 9.8% from 3Q 2021). Net income: NT$22.4b (down 37% from 3Q 2021). Profit margin: 35% (down from 50% in 3Q 2021). The decrease in margin was primarily driven by higher expenses. Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) missed analyst estimates by 3.8%. Revenue is expected to fall by 34% p.a. on average during the next 3 years compared to a 35% decline forecast for the Shipping industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 73% per year, which means it is significantly lagging earnings growth.
Price Target Changed • Sep 15Price target decreased to NT$109Down from NT$132, the current price target is an average from 2 analysts. New target price is 35% above last closing price of NT$80.70. Stock is down 54% over the past year. The company is forecast to post earnings per share of NT$39.70 for next year compared to NT$36.83 last year.
Reported Earnings • Aug 13Second quarter 2022 earnings: EPS misses analyst expectationsSecond quarter 2022 results: EPS: NT$10.74 (up from NT$6.77 in 2Q 2021). Revenue: NT$75.1b (up 56% from 2Q 2021). Net income: NT$30.1b (up 59% from 2Q 2021). Profit margin: 40% (in line with 2Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Over the next year, revenue is expected to shrink by 21% compared to a 1.5% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 89% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Jul 19Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$131, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 4x in the Shipping industry in Asia. Total returns to shareholders of 668% over the past three years.
Upcoming Dividend • Jul 13Upcoming dividend of NT$10.50 per shareEligible shareholders must have bought the stock before 20 July 2022. Payment date: 18 August 2022. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 9.3%. Within top quartile of Taiwanese dividend payers (6.9%). Lower than average of industry peers (18%).
Valuation Update With 7 Day Price Move • Jun 16Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to NT$131, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 4x in the Shipping industry in Asia. Total returns to shareholders of 764% over the past three years.
Price Target Changed • Jun 07Price target decreased to NT$175Down from NT$195, the current price target is an average from 2 analysts. New target price is 9.9% above last closing price of NT$159. Stock is up 6.0% over the past year. The company is forecast to post earnings per share of NT$53.85 for next year compared to NT$42.35 last year.
Reported Earnings • May 17First quarter 2022 earnings: EPS in line with expectations, revenues disappointFirst quarter 2022 results: EPS: NT$16.64 (up from NT$6.02 in 1Q 2021). Revenue: NT$80.5b (up 109% from 1Q 2021). Net income: NT$40.6b (up 176% from 1Q 2021). Profit margin: 50% (up from 38% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 121% per year but the company’s share price has only increased by 108% per year, which means it is significantly lagging earnings growth.
Price Target Changed • Apr 27Price target increased to NT$230Up from NT$205, the current price target is provided by 1 analyst. New target price is 60% above last closing price of NT$144. Stock is up 71% over the past year. The company is forecast to post earnings per share of NT$45.11 for next year compared to NT$42.35 last year.
Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Yi-Sheng Tseng was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Mar 17Full year 2021 earnings: EPS and revenues miss analyst expectationsFull year 2021 results: EPS: NT$42.35 (up from NT$4.64 in FY 2020). Revenue: NT$228.0b (up 179% from FY 2020). Net income: NT$103.3b (up NT$92.0b from FY 2020). Profit margin: 45% (up from 14% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 2.9%. Over the next year, revenue is expected to shrink by 6.0% compared to a 25% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 125% per year whereas the company’s share price has increased by 126% per year.
Valuation Update With 7 Day Price Move • Feb 08Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$172, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Shipping industry in Taiwan. Total returns to shareholders of 1,176% over the past three years.
お知らせ • Jan 30Wan Hai Lines Ltd., Annual General Meeting, May 26, 2022Wan Hai Lines Ltd., Annual General Meeting, May 26, 2022. Location: 2F., No.16, Sec. 4, Zhongshan N. Rd., Shilin Dist Taipei City 111, Taiwan Taipei Taiwan Agenda: To discuss operating report; to Recognize 2021 financial statements & operating report; and to Recognize the proposal for distributing 2021 profits.
Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS NT$14.57 (vs NT$0.74 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$70.7b (up 260% from 3Q 2020). Net income: NT$35.5b (up NT$33.8b from 3Q 2020). Profit margin: 50% (up from 9.1% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 124% per year whereas the company’s share price has increased by 123% per year.
Valuation Update With 7 Day Price Move • Oct 04Investor sentiment deteriorated over the past weekAfter last week's 20% share price decline to NT$166, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Shipping industry in Taiwan. Total returns to shareholders of 1,117% over the past three years.
Valuation Update With 7 Day Price Move • Sep 09Investor sentiment deteriorated over the past weekAfter last week's 20% share price decline to NT$208, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 10x in the Shipping industry in Asia. Total returns to shareholders of 1,199% over the past three years.
Upcoming Dividend • Aug 31Upcoming dividend of NT$1.00 per shareEligible shareholders must have bought the stock before 07 September 2021. Payment date: 29 September 2021. Trailing yield: 0.4%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (1.2%).
Valuation Update With 7 Day Price Move • Aug 23Investor sentiment improved over the past weekAfter last week's 15% share price gain to NT$248, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 10x in the Shipping industry in Asia. Total returns to shareholders of 1,476% over the past three years.
Reported Earnings • Aug 18Second quarter 2021 earnings released: EPS NT$8.56 (vs NT$0.76 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$48.0b (up 195% from 2Q 2020). Net income: NT$19.0b (up NT$17.3b from 2Q 2020). Profit margin: 40% (up from 10% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has increased by 136% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Jul 23Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to NT$240, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 10x in the Shipping industry in Asia. Total returns to shareholders of 1,430% over the past three years.
Valuation Update With 7 Day Price Move • Jul 02Investor sentiment improved over the past weekAfter last week's 35% share price gain to NT$336, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 11x in the Shipping industry in Asia. Total returns to shareholders of 2,106% over the past three years.
Valuation Update With 7 Day Price Move • Jun 16Investor sentiment improved over the past weekAfter last week's 20% share price gain to NT$192, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 11x in the Shipping industry in Asia. Total returns to shareholders of 1,169% over the past three years.
Valuation Update With 7 Day Price Move • May 20Investor sentiment improved over the past weekAfter last week's 30% share price gain to NT$104, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Shipping industry in Asia. Total returns to shareholders of 599% over the past three years.
Reported Earnings • May 14First quarter 2021 earnings released: EPS NT$6.62 (vs NT$0.038 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$38.6b (up 114% from 1Q 2020). Net income: NT$14.7b (up NT$14.6b from 1Q 2020). Profit margin: 38% (up from 0.5% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 70% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • May 02Investor sentiment improved over the past weekAfter last week's 15% share price gain to NT$94.70, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Shipping industry in Taiwan. Total returns to shareholders of 513% over the past three years.
Major Estimate Revision • Apr 21Consensus EPS estimates increase to NT$19.98The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from NT$124.9b to NT$130.1b. EPS estimate increased from NT$14.88 to NT$19.98 per share. Net income forecast to grow 292% next year vs 199% growth forecast for Shipping industry in Taiwan. Consensus price target up from NT$62.00 to NT$73.00. Share price rose 37% to NT$89.60 over the past week.
