View Future GrowthFirst Steamship 과거 순이익 실적과거 기준 점검 3/6First Steamship 의 수입은 연평균 -10.1%의 비율로 감소해 온 반면, Multiline Retail 산업은 연평균 11.7%의 비율로 증가했습니다. 매출은 연평균 30.5%의 비율로 감소해 왔습니다.핵심 정보-10.07%순이익 성장률-10.72%주당순이익(EPS) 성장률Multiline Retail 산업 성장률7.14%매출 성장률-30.48%자기자본이익률-0.52%순이익률21.20%최근 순이익 업데이트31 Mar 2026최근 과거 실적 업데이트Reported Earnings • May 17First quarter 2026 earnings released: NT$0.017 loss per share (vs NT$0.16 loss in 1Q 2025)First quarter 2026 results: NT$0.017 loss per share (improved from NT$0.16 loss in 1Q 2025). Revenue: NT$568.0m (down 51% from 1Q 2025). Net loss: NT$13.8m (loss narrowed 89% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings.Reported Earnings • Mar 31Full year 2025 earnings released: NT$1.63 loss per share (vs NT$0.35 loss in FY 2024)Full year 2025 results: NT$1.63 loss per share. Revenue: NT$1.49b (down 69% from FY 2024). Net income: NT$420.3m (up NT$709.1m from FY 2024). Profit margin: 28% (up from net loss in FY 2024). The move to profitability was driven by lower expenses.Reported Earnings • Nov 15Third quarter 2025 earnings released: NT$0.09 loss per share (vs NT$0.07 loss in 3Q 2024)Third quarter 2025 results: NT$0.09 loss per share (further deteriorated from NT$0.07 loss in 3Q 2024). Revenue: NT$980.6m (down 12% from 3Q 2024). Net loss: NT$71.5m (loss widened 23% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.Reported Earnings • Aug 15Second quarter 2025 earnings released: NT$0.09 loss per share (vs NT$0.008 loss in 2Q 2024)Second quarter 2025 results: NT$0.09 loss per share (further deteriorated from NT$0.008 loss in 2Q 2024). Revenue: NT$1.01b (down 16% from 2Q 2024). Net loss: NT$76.5m (loss widened NT$70.0m from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.Reported Earnings • May 16First quarter 2025 earnings released: NT$0.16 loss per share (vs NT$0.07 loss in 1Q 2024)First quarter 2025 results: NT$0.16 loss per share (further deteriorated from NT$0.07 loss in 1Q 2024). Revenue: NT$1.16b (down 10% from 1Q 2024). Net loss: NT$130.3m (loss widened 127% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance.공시 • May 07First Steamship Co., Ltd. to Report Q1, 2025 Results on May 14, 2025First Steamship Co., Ltd. announced that they will report Q1, 2025 results on May 14, 2025모든 업데이트 보기Recent updatesValuation Update With 7 Day Price Move • Jul 06Investor sentiment improves as stock rises 22%After last week's 22% share price gain to NT$6.60, the stock trades at a trailing P/E ratio of 15.2x. Average trailing P/E is 10x in the Shipping industry in Taiwan. Total loss to shareholders of 24% over the past three years.New Risk • Jun 26New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 121% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (21% net profit margin).Valuation Update With 7 Day Price Move • Jun 02Investor sentiment improves as stock rises 25%After last week's 25% share price gain to NT$6.33, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 11x in the Shipping industry in Taiwan. Total loss to shareholders of 31% over the past three years.New Risk • May 23New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 1.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company.Reported Earnings • May 17First quarter 2026 earnings released: NT$0.017 loss per share (vs NT$0.16 loss in 1Q 2025)First quarter 2026 results: NT$0.017 loss per share (improved from NT$0.16 loss in 1Q 2025). Revenue: NT$568.0m (down 51% from 1Q 2025). Net loss: NT$13.8m (loss narrowed 89% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings.New Risk • Apr 15New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 0.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company.Reported Earnings • Mar 31Full year 2025 earnings released: NT$1.63 loss per share (vs NT$0.35 loss in FY 2024)Full year 2025 results: NT$1.63 loss per share. Revenue: NT$1.49b (down 69% from FY 2024). Net income: NT$420.3m (up NT$709.1m from FY 2024). Profit margin: 28% (up from net loss in FY 2024). The move to profitability was driven by lower expenses.공시 • Mar 31First Steamship Co., Ltd., Annual General Meeting, Jun 18, 2026First Steamship Co., Ltd., Annual General Meeting, Jun 18, 2026, at 09:00 Taipei Standard Time. Location: b1 floor no,231, sec.2 chien kuo s. rd., taipei city TaiwanBuy Or Sell Opportunity • Mar 06Now 21% undervaluedOver the last 90 days, the stock has risen 17% to NT$6.79. The fair value is estimated to be NT$8.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Meanwhile, the company became loss making.공시 • Dec 27+ 1 more updateTrinity Gold Limited completed the acquisition of 4.66% stake in Grand Ocean Retail Group Ltd. (TWSE:5907) from First Steamship Co., Ltd. (TWSE:2601).Trinity Gold Limited entered into an sales agreement to acquire 4.66% stake in Grand Ocean Retail Group Ltd. (TWSE:5907) from First Steamship Co., Ltd. (TWSE:2601) for TWD 47.9 million on December 19, 2025. A cash consideration valued at TWD 5.25 per share will be paid by Trinity Gold Limited. The transaction period is from December 20, 2025, to January 10, 2026. Trinity Gold Limited completed the acquisition of 4.66% stake in Grand Ocean Retail Group Ltd. (TWSE:5907) from First Steamship Co., Ltd. (TWSE:2601) on December 26, 2025.공시 • Dec 20+ 1 more updateFirst Steamship Co., Ltd. Announces Appointment of Liu, Chen-Fang as Chief Accounting Officer, Effective from December 19, 2025First Steamship Co., Ltd. appointed LIU, CHEN-FANG, Accounting Manager, Accounting Officer of the company, as the new Chief Accounting Officer. The type of the change is new replacement. The effective date is December 19, 2025.공시 • Dec 12Trinity Gold Limited agreed to acquire 10% stake in Grand Ocean Retail Group Ltd. (TWSE:5907) from First Steamship Co., Ltd. (TWSE:2601) for approximately TWD 120 million.Trinity Gold Limited agreed to acquire 10% stake in Grand Ocean Retail Group Ltd. (TWSE:5907) from First Steamship Co., Ltd. (TWSE:2601) for approximately TWD 120 million on December 11, 2025. A cash consideration valued at TWD 6.03 per share will be paid by Trinity Gold Limited. As part of consideration, an undisclosed value is paid towards common equity of Grand Ocean Retail Group Ltd. Pan Szu-hsuan acted as accountant for First Steamship Co., Ltd.Reported Earnings • Nov 15Third quarter 2025 earnings released: NT$0.09 loss per share (vs NT$0.07 loss in 3Q 2024)Third quarter 2025 results: NT$0.09 loss per share (further deteriorated from NT$0.07 loss in 3Q 2024). Revenue: NT$980.6m (down 12% from 3Q 2024). Net loss: NT$71.5m (loss widened 23% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.Reported Earnings • Aug 15Second quarter 2025 earnings released: NT$0.09 loss per share (vs NT$0.008 loss in 2Q 2024)Second quarter 2025 results: NT$0.09 loss per share (further deteriorated from NT$0.008 loss in 2Q 2024). Revenue: NT$1.01b (down 16% from 2Q 2024). Net loss: NT$76.5m (loss widened NT$70.0m from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.Board Change • Jul 01Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Independent Director Jaime Che was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • May 16First quarter 2025 earnings released: NT$0.16 loss per share (vs NT$0.07 loss in 1Q 2024)First quarter 2025 results: NT$0.16 loss per share (further deteriorated from NT$0.07 loss in 1Q 2024). Revenue: NT$1.16b (down 10% from 1Q 2024). Net loss: NT$130.3m (loss widened 127% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance.공시 • May 07First Steamship Co., Ltd. to Report Q1, 2025 Results on May 14, 2025First Steamship Co., Ltd. announced that they will report Q1, 2025 results on May 14, 2025Reported Earnings • Apr 04Full year 2024 earnings released: NT$0.35 loss per share (vs NT$2.02 loss in FY 2023)Full year 2024 results: NT$0.35 loss per share (improved from NT$2.02 loss in FY 2023). Revenue: NT$4.85b (down 12% from FY 2023). Net loss: NT$288.8m (loss narrowed 83% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance.Buy Or Sell Opportunity • Apr 02Now 20% overvaluedOver the last 90 days, the stock has fallen 1.3% to NT$7.11. The fair value is estimated to be NT$5.92, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Meanwhile, the company became loss making.공시 • Mar 17First Steamship Co., Ltd., Annual General Meeting, Jun 13, 2025First Steamship Co., Ltd., Annual General Meeting, Jun 13, 2025. Location: b1 floor no,231, sec.2 chien kuo s. rd., taipei city Taiwan공시 • Mar 07First Steamship Co., Ltd. to Report Fiscal Year 2024 Results on Mar 14, 2025First Steamship Co., Ltd. announced that they will report fiscal year 2024 results at 9:00 AM, Taipei Standard Time on Mar 14, 2025Reported Earnings • Nov 17Third quarter 2024 earnings released: NT$0.07 loss per share (vs NT$0.27 loss in 3Q 2023)Third quarter 2024 results: NT$0.07 loss per share (improved from NT$0.27 loss in 3Q 2023). Revenue: NT$1.11b (down 11% from 3Q 2023). Net loss: NT$58.1m (loss narrowed 74% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance.공시 • Nov 05First Steamship Co., Ltd. to Report Q3, 2024 Results on Nov 13, 2024First Steamship Co., Ltd. announced that they will report Q3, 2024 results on Nov 13, 2024분석 기사 • Sep 30Revenues Working Against First Steamship Co., Ltd.'s (TWSE:2601) Share PriceFirst Steamship Co., Ltd.'s ( TWSE:2601 ) price-to-sales (or "P/S") ratio of 1.3x may look like a pretty appealing...Reported Earnings • Aug 17Second quarter 2024 earnings released: NT$0.01 loss per share (vs NT$0.28 loss in 2Q 2023)Second quarter 2024 results: NT$0.01 loss per share (improved from NT$0.28 loss in 2Q 2023). Revenue: NT$1.20b (down 10% from 2Q 2023). Net loss: NT$6.55m (loss narrowed 97% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance.공시 • Aug 02First Steamship Co., Ltd. to Report Q2, 2024 Results on Aug 12, 2024First Steamship Co., Ltd. announced that they will report Q2, 2024 results on Aug 12, 2024Reported Earnings • May 18First quarter 2024 earnings released: NT$0.07 loss per share (vs NT$0.075 profit in 1Q 2023)First quarter 2024 results: NT$0.07 loss per share (down from NT$0.075 profit in 1Q 2023). Revenue: NT$1.29b (down 15% from 1Q 2023). Net loss: NT$57.4m (down 192% from profit in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 120 percentage points per year, which is a significant difference in performance.Reported Earnings • Mar 31Full year 2023 earnings released: NT$2.02 loss per share (vs NT$0.007 profit in FY 2022)Full year 2023 results: NT$2.02 loss per share (down from NT$0.007 profit in FY 2022). Revenue: NT$5.50b (down 13% from FY 2022). Net loss: NT$1.67b (down NT$1.68b from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance.공시 • Mar 30First Steamship Co., Ltd., Annual General Meeting, Jun 18, 2024First Steamship Co., Ltd., Annual General Meeting, Jun 18, 2024. Agenda: To consider the 2023 Business Report; to consider the audit Committee's review of the 2023 annual final accounting books and statements; to consider the report on 2023 employees's and directors's remuneration; to consider the Status of Company's endorsements and guarantees in 2023; to consider the report on results of investments in associates in 2023; to acknowledge the Business Report and Financial Statements in 2023;to acknowledge the deficit compensation in 2023; to consider the rules of Procedure for Shareholders' Meeting; and to approve the lifting of non-competition restrictions for directors.New Risk • Dec 27New major risk - Revenue and earnings growthEarnings have declined by 49% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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. This is currently the only risk that has been identified for the company.Reported Earnings • Nov 17Third quarter 2023 earnings released: NT$0.27 loss per share (vs NT$0.031 loss in 3Q 2022)Third quarter 2023 results: NT$0.27 loss per share (further deteriorated from NT$0.031 loss in 3Q 2022). Revenue: NT$1.24b (down 18% from 3Q 2022). Net loss: NT$219.7m (loss widened NT$194.3m from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 48% 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 • Sep 06Second quarter 2023 earnings released: NT$0.27 loss per share (vs NT$0.002 profit in 2Q 2022)Second quarter 2023 results: NT$0.27 loss per share (down from NT$0.002 profit in 2Q 2022). Revenue: NT$1.33b (down 13% from 2Q 2022). Net loss: NT$226.8m (down NT$228.1m from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.공시 • Jun 19+ 1 more updateFirst Steamship Co., Ltd. Announces the Term Expiry of the First Nominating CommitteeFirst Steamship Co., Ltd. announced the term expiry of Chao,Tseng-Ping, Yang, Jung-Tsung and Lui,Ping-Su as Member of Nominating Committee, effective June 17, 2023. Resume of the previous position holder: Chao,Tseng-Ping is Chairman & CEO of Union Capital (Taiwan) Asset Management Co.Ltd. Yang,Jung-Tsung is President of Heng Sheng Law Firm. Lui, Ping-Su is Partner of Argyle Street Management Limited.Reported Earnings • Apr 06Full year 2022 earnings released: EPS: NT$0.01 (vs NT$0.20 in FY 2021)Full year 2022 results: EPS: NT$0.01 (down from NT$0.20 in FY 2021). Revenue: NT$6.33b (down 8.7% from FY 2021). Net income: NT$6.04m (down 96% from FY 2021). Profit margin: 0.1% (down from 2.2% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance.Valuation Update With 7 Day Price Move • Feb 24Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$10.00, the stock trades at a trailing P/E ratio of 74.5x. Average trailing P/E is 5x in the Shipping industry in Taiwan. Total returns to shareholders of 23% over the past three years.Reported Earnings • Nov 18Third quarter 2022 earnings released: NT$0.03 loss per share (vs NT$0.095 profit in 3Q 2021)Third quarter 2022 results: NT$0.03 loss per share (down from NT$0.095 profit in 3Q 2021). Revenue: NT$1.52b (down 3.8% from 3Q 2021). Net loss: NT$25.4m (down 133% from profit in 3Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance.Board Change • Nov 16Less 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. 4 non-independent directors. Independent Director Ping-Sum Lui was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Aug 17Second quarter 2022 earnings released: EPS: NT$0.002 (vs NT$0.062 in 2Q 2021)Second quarter 2022 results: EPS: NT$0.002 (down from NT$0.062 in 2Q 2021). Revenue: NT$1.53b (down 7.5% from 2Q 2021). Net income: NT$1.34m (down 97% from 2Q 2021). Profit margin: 0.1% (down from 2.8% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance.공시 • Aug 13First Steamship Co., Ltd. Appoints Lui,Ping-Sum as Members of Remuneration CommitteeFirst Steamship Co., Ltd. appointed LUI,PING-SUM as members of Remuneration Committee. Effective date of the new member is August 12, 2022.Board Change • May 19Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Jung-Tsung Yang 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 • May 17First quarter 2022 earnings released: EPS: NT$0.13 (vs NT$0.002 in 1Q 2021)First quarter 2022 results: EPS: NT$0.13 (up from NT$0.002 in 1Q 2021). Revenue: NT$1.77b (down 1.0% from 1Q 2021). Net income: NT$106.2m (up NT$104.6m from 1Q 2021). Profit margin: 6.0% (up from 0.1% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance.공시 • May 14First Steamship Co., Ltd. Replaces Chiu, Wei-Te with Kung, Hsin-Kai as Corporate Governance Officer with Effect from May 16, 2022First Steamship Co., Ltd. replaced Chiu, Wei-Te with Kung, Hsin-Kai as Corporate Governance Officer with effect from May 16, 2022.Reported Earnings • Apr 03Full year 2021 earnings released: EPS: NT$0.20 (vs NT$0.42 loss in FY 2020)Full year 2021 results: EPS: NT$0.20 (up from NT$0.42 loss in FY 2020). Revenue: NT$6.93b (up 7.5% from FY 2020). Net income: NT$151.9m (up NT$438.7m from FY 2020). Profit margin: 2.2% (up from net loss in FY 2020). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.Reported Earnings • Nov 17Third quarter 2021 earnings released: EPS NT$0.09 (vs NT$0.032 loss in 3Q 2020)The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: NT$1.58b (down 16% from 3Q 2020). Net income: NT$77.1m (up NT$98.5m from 3Q 2020). Profit margin: 4.9% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.Reported Earnings • Aug 18Second quarter 2021 earnings released: EPS NT$0.06 (vs NT$0.16 loss in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.66b (up 18% from 2Q 2020). Net income: NT$45.9m (up NT$153.4m from 2Q 2020). Profit margin: 2.8% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings.Board Change • Jul 31High number of new directorsChairman & GM Jen-Hao Kuo was the last director to join the board, commencing their role in 2020.Reported Earnings • May 15First quarter 2021 earnings released: EPS NT$0.01 (vs NT$0.33 loss in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.79b (up 47% from 1Q 2020). Net income: NT$6.10m (up NT$233.8m from 1Q 2020). Profit margin: 0.3% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.분석 기사 • Apr 11These 4 Measures Indicate That First Steamship (TPE:2601) Is Using Debt In A Risky WayThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Reported Earnings • Apr 01Full year 2020 earnings released: NT$0.42 loss per share (vs NT$2.04 profit in FY 2019)The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: NT$6.44b (down 21% from FY 2019). Net loss: NT$286.8m (down 120% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.공시 • Mar 17First Steamship Co., Ltd. Appoints Shih-Ming Lee as Corporate Governance Officer, Effective March 30, 2021First Steamship Co., Ltd. appointed Shih-Ming Lee/Chief Financial Officer as corporate governance officer, effective March 30, 2021.분석 기사 • Mar 07Here's What's Concerning About First Steamship (TPE:2601)When it comes to investing, there are some useful financial metrics that can warn us when a business is potentially in...분석 기사 • Jan 31Introducing First Steamship (TPE:2601), A Stock That Climbed 17% In The Last Three YearsFirst Steamship Co., Ltd. ( TPE:2601 ) shareholders might be concerned after seeing the share price drop 22% in the...공시 • Jan 23First Steamship Co., Ltd., Annual General Meeting, Jun 11, 2021First Steamship Co., Ltd., Annual General Meeting, Jun 11, 2021. Location: B1 International Convention Hall No.231 Sec. 2 Jianguo South Rd. Taipei Taiwan Agenda: To consider the 2020 Business Report; to consider the audit Committee's review of the 2020 annual final accounting books and statements; to consider the Report on 2020 employees' and directors' remuneration; to consider the Status of Company's endorsements and guarantees in 2020; to consider the Report on results of investments in associates in 2020; to consider the Report on the issuance of Euro-Convertible Bond; to consider the Report on the implementation of overseas or domestic convertible bonds in private placement in 2020; and to transact such other business issues.분석 기사 • Dec 27Does First Steamship (TPE:2601) Have A Healthy Balance Sheet?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Is New 90 Day High Low • Dec 15New 90-day high: NT$10.15The company is up 11% from its price of NT$9.13 on 16 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Shipping industry, which is up 56% over the same period.Is New 90 Day High Low • Nov 25New 90-day high: NT$9.39The company is up 2.0% from its price of NT$9.17 on 27 August 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Shipping industry, which is up 33% over the same period.분석 기사 • Nov 22Is First Steamship (TPE:2601) Headed For Trouble?When we're researching a company, it's sometimes hard to find the warning signs, but there are some financial metrics...Reported Earnings • Nov 15Third quarter 2020 earnings released: NT$0.03 loss per shareThe company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: NT$1.88b (up 7.7% from 3Q 2019). Net loss: NT$21.4m (loss narrowed 82% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 7% per year and the company’s share price has also increased by 7% per year.매출 및 비용 세부 내역First Steamship가 돈을 벌고 사용하는 방법. 최근 발표된 LTM 실적 기준.순이익 및 매출 추이TWSE:2601 매출, 비용 및 순이익 (TWD Millions)날짜매출순이익일반관리비연구개발비31 Mar 261,695359145031 Dec 251,489420156030 Sep 25365214-234030 Jun 25495227-146031 Mar 25685297-139031 Dec 241,615192197030 Sep 245,001-1,4072,056030 Jun 245,134-1,5692,110031 Mar 245,268-1,7892,318031 Dec 235,502-1,6692,391030 Sep 235,603-4602,166030 Jun 235,883-2662,236031 Mar 236,083-382,152031 Dec 226,32662,276030 Sep 226,7231092,313030 Jun 226,7832122,243031 Mar 226,9082562,174031 Dec 216,9261522,101030 Sep 216,9672472,119030 Jun 217,2641412,108031 Mar 217,01582,072031 Dec 206,442-1421,854030 Sep 206,805-641,768030 Jun 206,670-1561,860031 Mar 207,2051,1172,112031 Dec 198,1321,4042,396030 Sep 198,2101,2182,908030 Jun 198,2581,3403,292031 Mar 198,153613,468031 Dec 188,04463,869030 Sep 187,9063453,801030 Jun 187,6804463,803031 Mar 187,4844243,831031 Dec 177,2975653,785030 Sep 177,1261013,773030 Jun 177,100-4533,872031 Mar 177,276-3784,128031 Dec 167,616-1,0864,346030 Sep 167,704-1,4444,467030 Jun 168,042-2,1874,588031 Mar 168,233-2,0914,544031 Dec 158,497-1,4884,548030 Sep 158,904-1,1204,5460양질의 수익: 2601는 NT$18.0M 규모의 큰 일회성 손실이 있어 31st March, 2026까지 지난 12개월 재무 결과에 영향을 미쳤습니다.이익 마진 증가: 2601의 현재 순 이익률 (21.2%)은 지난해 (43.4%)보다 낮습니다.잉여현금흐름 대비 순이익 분석과거 순이익 성장 분석수익추이: 2601는 지난 5년 동안 흑자전환하며 연평균 -10.1%의 수익 성장을 기록했습니다.성장 가속화: 지난 1년간 2601 의 수익 증가율(20.9%)은 연간 평균(-10.1%)을 초과합니다.수익 대 산업: 2601의 지난 1년 수익 증가율(20.9%)은 Multiline Retail 업계의 5.8%를 상회했습니다.자기자본이익률높은 ROE: 2601의 자본 수익률(-0.5%)은 낮음으로 평가됩니다.총자산이익률투하자본수익률우수한 과거 실적 기업을 찾아보세요7D1Y7D1Y7D1YRetail 산업에서 과거 실적이 우수한 기업.View Financial Health기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/07/09 22:32종가2026/07/09 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 세부 정보는 당사의 Github 페이지에서 확인하실 수 있으며, 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공하고 있습니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스First Steamship Co., Ltd.는 2명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Marc WangKGI Securities Co. Ltd.Jerry LuSinoPac Securities Investment Service
Reported Earnings • May 17First quarter 2026 earnings released: NT$0.017 loss per share (vs NT$0.16 loss in 1Q 2025)First quarter 2026 results: NT$0.017 loss per share (improved from NT$0.16 loss in 1Q 2025). Revenue: NT$568.0m (down 51% from 1Q 2025). Net loss: NT$13.8m (loss narrowed 89% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings.
Reported Earnings • Mar 31Full year 2025 earnings released: NT$1.63 loss per share (vs NT$0.35 loss in FY 2024)Full year 2025 results: NT$1.63 loss per share. Revenue: NT$1.49b (down 69% from FY 2024). Net income: NT$420.3m (up NT$709.1m from FY 2024). Profit margin: 28% (up from net loss in FY 2024). The move to profitability was driven by lower expenses.
Reported Earnings • Nov 15Third quarter 2025 earnings released: NT$0.09 loss per share (vs NT$0.07 loss in 3Q 2024)Third quarter 2025 results: NT$0.09 loss per share (further deteriorated from NT$0.07 loss in 3Q 2024). Revenue: NT$980.6m (down 12% from 3Q 2024). Net loss: NT$71.5m (loss widened 23% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.
Reported Earnings • Aug 15Second quarter 2025 earnings released: NT$0.09 loss per share (vs NT$0.008 loss in 2Q 2024)Second quarter 2025 results: NT$0.09 loss per share (further deteriorated from NT$0.008 loss in 2Q 2024). Revenue: NT$1.01b (down 16% from 2Q 2024). Net loss: NT$76.5m (loss widened NT$70.0m from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.
Reported Earnings • May 16First quarter 2025 earnings released: NT$0.16 loss per share (vs NT$0.07 loss in 1Q 2024)First quarter 2025 results: NT$0.16 loss per share (further deteriorated from NT$0.07 loss in 1Q 2024). Revenue: NT$1.16b (down 10% from 1Q 2024). Net loss: NT$130.3m (loss widened 127% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance.
공시 • May 07First Steamship Co., Ltd. to Report Q1, 2025 Results on May 14, 2025First Steamship Co., Ltd. announced that they will report Q1, 2025 results on May 14, 2025
Valuation Update With 7 Day Price Move • Jul 06Investor sentiment improves as stock rises 22%After last week's 22% share price gain to NT$6.60, the stock trades at a trailing P/E ratio of 15.2x. Average trailing P/E is 10x in the Shipping industry in Taiwan. Total loss to shareholders of 24% over the past three years.
New Risk • Jun 26New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 121% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (21% net profit margin).
Valuation Update With 7 Day Price Move • Jun 02Investor sentiment improves as stock rises 25%After last week's 25% share price gain to NT$6.33, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 11x in the Shipping industry in Taiwan. Total loss to shareholders of 31% over the past three years.
New Risk • May 23New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 1.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company.
Reported Earnings • May 17First quarter 2026 earnings released: NT$0.017 loss per share (vs NT$0.16 loss in 1Q 2025)First quarter 2026 results: NT$0.017 loss per share (improved from NT$0.16 loss in 1Q 2025). Revenue: NT$568.0m (down 51% from 1Q 2025). Net loss: NT$13.8m (loss narrowed 89% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings.
New Risk • Apr 15New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 0.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company.
Reported Earnings • Mar 31Full year 2025 earnings released: NT$1.63 loss per share (vs NT$0.35 loss in FY 2024)Full year 2025 results: NT$1.63 loss per share. Revenue: NT$1.49b (down 69% from FY 2024). Net income: NT$420.3m (up NT$709.1m from FY 2024). Profit margin: 28% (up from net loss in FY 2024). The move to profitability was driven by lower expenses.
공시 • Mar 31First Steamship Co., Ltd., Annual General Meeting, Jun 18, 2026First Steamship Co., Ltd., Annual General Meeting, Jun 18, 2026, at 09:00 Taipei Standard Time. Location: b1 floor no,231, sec.2 chien kuo s. rd., taipei city Taiwan
Buy Or Sell Opportunity • Mar 06Now 21% undervaluedOver the last 90 days, the stock has risen 17% to NT$6.79. The fair value is estimated to be NT$8.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Meanwhile, the company became loss making.
공시 • Dec 27+ 1 more updateTrinity Gold Limited completed the acquisition of 4.66% stake in Grand Ocean Retail Group Ltd. (TWSE:5907) from First Steamship Co., Ltd. (TWSE:2601).Trinity Gold Limited entered into an sales agreement to acquire 4.66% stake in Grand Ocean Retail Group Ltd. (TWSE:5907) from First Steamship Co., Ltd. (TWSE:2601) for TWD 47.9 million on December 19, 2025. A cash consideration valued at TWD 5.25 per share will be paid by Trinity Gold Limited. The transaction period is from December 20, 2025, to January 10, 2026. Trinity Gold Limited completed the acquisition of 4.66% stake in Grand Ocean Retail Group Ltd. (TWSE:5907) from First Steamship Co., Ltd. (TWSE:2601) on December 26, 2025.
공시 • Dec 20+ 1 more updateFirst Steamship Co., Ltd. Announces Appointment of Liu, Chen-Fang as Chief Accounting Officer, Effective from December 19, 2025First Steamship Co., Ltd. appointed LIU, CHEN-FANG, Accounting Manager, Accounting Officer of the company, as the new Chief Accounting Officer. The type of the change is new replacement. The effective date is December 19, 2025.
공시 • Dec 12Trinity Gold Limited agreed to acquire 10% stake in Grand Ocean Retail Group Ltd. (TWSE:5907) from First Steamship Co., Ltd. (TWSE:2601) for approximately TWD 120 million.Trinity Gold Limited agreed to acquire 10% stake in Grand Ocean Retail Group Ltd. (TWSE:5907) from First Steamship Co., Ltd. (TWSE:2601) for approximately TWD 120 million on December 11, 2025. A cash consideration valued at TWD 6.03 per share will be paid by Trinity Gold Limited. As part of consideration, an undisclosed value is paid towards common equity of Grand Ocean Retail Group Ltd. Pan Szu-hsuan acted as accountant for First Steamship Co., Ltd.
Reported Earnings • Nov 15Third quarter 2025 earnings released: NT$0.09 loss per share (vs NT$0.07 loss in 3Q 2024)Third quarter 2025 results: NT$0.09 loss per share (further deteriorated from NT$0.07 loss in 3Q 2024). Revenue: NT$980.6m (down 12% from 3Q 2024). Net loss: NT$71.5m (loss widened 23% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.
Reported Earnings • Aug 15Second quarter 2025 earnings released: NT$0.09 loss per share (vs NT$0.008 loss in 2Q 2024)Second quarter 2025 results: NT$0.09 loss per share (further deteriorated from NT$0.008 loss in 2Q 2024). Revenue: NT$1.01b (down 16% from 2Q 2024). Net loss: NT$76.5m (loss widened NT$70.0m from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.
Board Change • Jul 01Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Independent Director Jaime Che was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • May 16First quarter 2025 earnings released: NT$0.16 loss per share (vs NT$0.07 loss in 1Q 2024)First quarter 2025 results: NT$0.16 loss per share (further deteriorated from NT$0.07 loss in 1Q 2024). Revenue: NT$1.16b (down 10% from 1Q 2024). Net loss: NT$130.3m (loss widened 127% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance.
공시 • May 07First Steamship Co., Ltd. to Report Q1, 2025 Results on May 14, 2025First Steamship Co., Ltd. announced that they will report Q1, 2025 results on May 14, 2025
Reported Earnings • Apr 04Full year 2024 earnings released: NT$0.35 loss per share (vs NT$2.02 loss in FY 2023)Full year 2024 results: NT$0.35 loss per share (improved from NT$2.02 loss in FY 2023). Revenue: NT$4.85b (down 12% from FY 2023). Net loss: NT$288.8m (loss narrowed 83% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance.
Buy Or Sell Opportunity • Apr 02Now 20% overvaluedOver the last 90 days, the stock has fallen 1.3% to NT$7.11. The fair value is estimated to be NT$5.92, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Meanwhile, the company became loss making.
공시 • Mar 17First Steamship Co., Ltd., Annual General Meeting, Jun 13, 2025First Steamship Co., Ltd., Annual General Meeting, Jun 13, 2025. Location: b1 floor no,231, sec.2 chien kuo s. rd., taipei city Taiwan
공시 • Mar 07First Steamship Co., Ltd. to Report Fiscal Year 2024 Results on Mar 14, 2025First Steamship Co., Ltd. announced that they will report fiscal year 2024 results at 9:00 AM, Taipei Standard Time on Mar 14, 2025
Reported Earnings • Nov 17Third quarter 2024 earnings released: NT$0.07 loss per share (vs NT$0.27 loss in 3Q 2023)Third quarter 2024 results: NT$0.07 loss per share (improved from NT$0.27 loss in 3Q 2023). Revenue: NT$1.11b (down 11% from 3Q 2023). Net loss: NT$58.1m (loss narrowed 74% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance.
공시 • Nov 05First Steamship Co., Ltd. to Report Q3, 2024 Results on Nov 13, 2024First Steamship Co., Ltd. announced that they will report Q3, 2024 results on Nov 13, 2024
분석 기사 • Sep 30Revenues Working Against First Steamship Co., Ltd.'s (TWSE:2601) Share PriceFirst Steamship Co., Ltd.'s ( TWSE:2601 ) price-to-sales (or "P/S") ratio of 1.3x may look like a pretty appealing...
Reported Earnings • Aug 17Second quarter 2024 earnings released: NT$0.01 loss per share (vs NT$0.28 loss in 2Q 2023)Second quarter 2024 results: NT$0.01 loss per share (improved from NT$0.28 loss in 2Q 2023). Revenue: NT$1.20b (down 10% from 2Q 2023). Net loss: NT$6.55m (loss narrowed 97% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance.
공시 • Aug 02First Steamship Co., Ltd. to Report Q2, 2024 Results on Aug 12, 2024First Steamship Co., Ltd. announced that they will report Q2, 2024 results on Aug 12, 2024
Reported Earnings • May 18First quarter 2024 earnings released: NT$0.07 loss per share (vs NT$0.075 profit in 1Q 2023)First quarter 2024 results: NT$0.07 loss per share (down from NT$0.075 profit in 1Q 2023). Revenue: NT$1.29b (down 15% from 1Q 2023). Net loss: NT$57.4m (down 192% from profit in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 120 percentage points per year, which is a significant difference in performance.
Reported Earnings • Mar 31Full year 2023 earnings released: NT$2.02 loss per share (vs NT$0.007 profit in FY 2022)Full year 2023 results: NT$2.02 loss per share (down from NT$0.007 profit in FY 2022). Revenue: NT$5.50b (down 13% from FY 2022). Net loss: NT$1.67b (down NT$1.68b from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance.
공시 • Mar 30First Steamship Co., Ltd., Annual General Meeting, Jun 18, 2024First Steamship Co., Ltd., Annual General Meeting, Jun 18, 2024. Agenda: To consider the 2023 Business Report; to consider the audit Committee's review of the 2023 annual final accounting books and statements; to consider the report on 2023 employees's and directors's remuneration; to consider the Status of Company's endorsements and guarantees in 2023; to consider the report on results of investments in associates in 2023; to acknowledge the Business Report and Financial Statements in 2023;to acknowledge the deficit compensation in 2023; to consider the rules of Procedure for Shareholders' Meeting; and to approve the lifting of non-competition restrictions for directors.
New Risk • Dec 27New major risk - Revenue and earnings growthEarnings have declined by 49% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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. This is currently the only risk that has been identified for the company.
Reported Earnings • Nov 17Third quarter 2023 earnings released: NT$0.27 loss per share (vs NT$0.031 loss in 3Q 2022)Third quarter 2023 results: NT$0.27 loss per share (further deteriorated from NT$0.031 loss in 3Q 2022). Revenue: NT$1.24b (down 18% from 3Q 2022). Net loss: NT$219.7m (loss widened NT$194.3m from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 48% 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 • Sep 06Second quarter 2023 earnings released: NT$0.27 loss per share (vs NT$0.002 profit in 2Q 2022)Second quarter 2023 results: NT$0.27 loss per share (down from NT$0.002 profit in 2Q 2022). Revenue: NT$1.33b (down 13% from 2Q 2022). Net loss: NT$226.8m (down NT$228.1m from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.
공시 • Jun 19+ 1 more updateFirst Steamship Co., Ltd. Announces the Term Expiry of the First Nominating CommitteeFirst Steamship Co., Ltd. announced the term expiry of Chao,Tseng-Ping, Yang, Jung-Tsung and Lui,Ping-Su as Member of Nominating Committee, effective June 17, 2023. Resume of the previous position holder: Chao,Tseng-Ping is Chairman & CEO of Union Capital (Taiwan) Asset Management Co.Ltd. Yang,Jung-Tsung is President of Heng Sheng Law Firm. Lui, Ping-Su is Partner of Argyle Street Management Limited.
Reported Earnings • Apr 06Full year 2022 earnings released: EPS: NT$0.01 (vs NT$0.20 in FY 2021)Full year 2022 results: EPS: NT$0.01 (down from NT$0.20 in FY 2021). Revenue: NT$6.33b (down 8.7% from FY 2021). Net income: NT$6.04m (down 96% from FY 2021). Profit margin: 0.1% (down from 2.2% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance.
Valuation Update With 7 Day Price Move • Feb 24Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$10.00, the stock trades at a trailing P/E ratio of 74.5x. Average trailing P/E is 5x in the Shipping industry in Taiwan. Total returns to shareholders of 23% over the past three years.
Reported Earnings • Nov 18Third quarter 2022 earnings released: NT$0.03 loss per share (vs NT$0.095 profit in 3Q 2021)Third quarter 2022 results: NT$0.03 loss per share (down from NT$0.095 profit in 3Q 2021). Revenue: NT$1.52b (down 3.8% from 3Q 2021). Net loss: NT$25.4m (down 133% from profit in 3Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance.
Board Change • Nov 16Less 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. 4 non-independent directors. Independent Director Ping-Sum Lui was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Aug 17Second quarter 2022 earnings released: EPS: NT$0.002 (vs NT$0.062 in 2Q 2021)Second quarter 2022 results: EPS: NT$0.002 (down from NT$0.062 in 2Q 2021). Revenue: NT$1.53b (down 7.5% from 2Q 2021). Net income: NT$1.34m (down 97% from 2Q 2021). Profit margin: 0.1% (down from 2.8% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance.
공시 • Aug 13First Steamship Co., Ltd. Appoints Lui,Ping-Sum as Members of Remuneration CommitteeFirst Steamship Co., Ltd. appointed LUI,PING-SUM as members of Remuneration Committee. Effective date of the new member is August 12, 2022.
Board Change • May 19Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Jung-Tsung Yang 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 • May 17First quarter 2022 earnings released: EPS: NT$0.13 (vs NT$0.002 in 1Q 2021)First quarter 2022 results: EPS: NT$0.13 (up from NT$0.002 in 1Q 2021). Revenue: NT$1.77b (down 1.0% from 1Q 2021). Net income: NT$106.2m (up NT$104.6m from 1Q 2021). Profit margin: 6.0% (up from 0.1% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance.
공시 • May 14First Steamship Co., Ltd. Replaces Chiu, Wei-Te with Kung, Hsin-Kai as Corporate Governance Officer with Effect from May 16, 2022First Steamship Co., Ltd. replaced Chiu, Wei-Te with Kung, Hsin-Kai as Corporate Governance Officer with effect from May 16, 2022.
Reported Earnings • Apr 03Full year 2021 earnings released: EPS: NT$0.20 (vs NT$0.42 loss in FY 2020)Full year 2021 results: EPS: NT$0.20 (up from NT$0.42 loss in FY 2020). Revenue: NT$6.93b (up 7.5% from FY 2020). Net income: NT$151.9m (up NT$438.7m from FY 2020). Profit margin: 2.2% (up from net loss in FY 2020). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
Reported Earnings • Nov 17Third quarter 2021 earnings released: EPS NT$0.09 (vs NT$0.032 loss in 3Q 2020)The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: NT$1.58b (down 16% from 3Q 2020). Net income: NT$77.1m (up NT$98.5m from 3Q 2020). Profit margin: 4.9% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.
Reported Earnings • Aug 18Second quarter 2021 earnings released: EPS NT$0.06 (vs NT$0.16 loss in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.66b (up 18% from 2Q 2020). Net income: NT$45.9m (up NT$153.4m from 2Q 2020). Profit margin: 2.8% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings.
Board Change • Jul 31High number of new directorsChairman & GM Jen-Hao Kuo was the last director to join the board, commencing their role in 2020.
Reported Earnings • May 15First quarter 2021 earnings released: EPS NT$0.01 (vs NT$0.33 loss in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.79b (up 47% from 1Q 2020). Net income: NT$6.10m (up NT$233.8m from 1Q 2020). Profit margin: 0.3% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
분석 기사 • Apr 11These 4 Measures Indicate That First Steamship (TPE:2601) Is Using Debt In A Risky WayThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Reported Earnings • Apr 01Full year 2020 earnings released: NT$0.42 loss per share (vs NT$2.04 profit in FY 2019)The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: NT$6.44b (down 21% from FY 2019). Net loss: NT$286.8m (down 120% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.
공시 • Mar 17First Steamship Co., Ltd. Appoints Shih-Ming Lee as Corporate Governance Officer, Effective March 30, 2021First Steamship Co., Ltd. appointed Shih-Ming Lee/Chief Financial Officer as corporate governance officer, effective March 30, 2021.
분석 기사 • Mar 07Here's What's Concerning About First Steamship (TPE:2601)When it comes to investing, there are some useful financial metrics that can warn us when a business is potentially in...
분석 기사 • Jan 31Introducing First Steamship (TPE:2601), A Stock That Climbed 17% In The Last Three YearsFirst Steamship Co., Ltd. ( TPE:2601 ) shareholders might be concerned after seeing the share price drop 22% in the...
공시 • Jan 23First Steamship Co., Ltd., Annual General Meeting, Jun 11, 2021First Steamship Co., Ltd., Annual General Meeting, Jun 11, 2021. Location: B1 International Convention Hall No.231 Sec. 2 Jianguo South Rd. Taipei Taiwan Agenda: To consider the 2020 Business Report; to consider the audit Committee's review of the 2020 annual final accounting books and statements; to consider the Report on 2020 employees' and directors' remuneration; to consider the Status of Company's endorsements and guarantees in 2020; to consider the Report on results of investments in associates in 2020; to consider the Report on the issuance of Euro-Convertible Bond; to consider the Report on the implementation of overseas or domestic convertible bonds in private placement in 2020; and to transact such other business issues.
분석 기사 • Dec 27Does First Steamship (TPE:2601) Have A Healthy Balance Sheet?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Is New 90 Day High Low • Dec 15New 90-day high: NT$10.15The company is up 11% from its price of NT$9.13 on 16 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Shipping industry, which is up 56% over the same period.
Is New 90 Day High Low • Nov 25New 90-day high: NT$9.39The company is up 2.0% from its price of NT$9.17 on 27 August 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Shipping industry, which is up 33% over the same period.
분석 기사 • Nov 22Is First Steamship (TPE:2601) Headed For Trouble?When we're researching a company, it's sometimes hard to find the warning signs, but there are some financial metrics...
Reported Earnings • Nov 15Third quarter 2020 earnings released: NT$0.03 loss per shareThe company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: NT$1.88b (up 7.7% from 3Q 2019). Net loss: NT$21.4m (loss narrowed 82% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 7% per year and the company’s share price has also increased by 7% per year.