Wan Hai Lines Ltd.

TWSE:2615 Stock Report

Market Cap: NT$266.0b

Wan Hai Lines Valuation

Is 2615 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 2615 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2615 (NT$95.8) is trading above our estimate of fair value (NT$0.81)

Significantly Below Fair Value: 2615 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2615?

Key metric: As 2615 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2615. This is calculated by dividing 2615's market cap by their current earnings.
What is 2615's PE Ratio?
PE Ratio8.7x
EarningsNT$30.75b
Market CapNT$266.02b

Price to Earnings Ratio vs Peers

How does 2615's PE Ratio compare to its peers?

The above table shows the PE ratio for 2615 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average7.7x
2609 Yang Ming Marine Transport
5.5x-21.1%NT$276.9b
2603 Evergreen Marine Corporation (Taiwan)
4.6x-19.3%NT$515.3b
2637 Wisdom Marine Lines Limited (Cayman)
9.4x-5.7%NT$59.6b
2606 U-Ming Marine Transport
11.1x-1.3%NT$51.7b
2615 Wan Hai Lines
8.7x-34.3%NT$268.8b

Price-To-Earnings vs Peers: 2615 is expensive based on its Price-To-Earnings Ratio (8.7x) compared to the peer average (7.7x).

Price to Earnings Ratio vs Industry

How does 2615's PE Ratio compare vs other companies in the Asian Shipping Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
2615 8.7xIndustry Avg. 9.7xNo. of Companies19PE0612182430+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 2615 is good value based on its Price-To-Earnings Ratio (8.7x) compared to the Asian Shipping industry average (9.7x).

Price to Earnings Ratio vs Fair Ratio

What is 2615's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2615 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.7x
Fair PE Ratio6.4x

Price-To-Earnings vs Fair Ratio: 2615 is expensive based on its Price-To-Earnings Ratio (8.7x) compared to the estimated Fair Price-To-Earnings Ratio (6.4x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 2615 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNT$95.80
NT$71.33
-25.5%
27.7%NT$90.00NT$44.00n/a3
Nov ’25NT$94.20
NT$71.33
-24.3%
27.7%NT$90.00NT$44.00n/a3
Oct ’25NT$99.20
NT$71.33
-28.1%
27.7%NT$90.00NT$44.00n/a3
Sep ’25NT$82.90
NT$71.33
-14.0%
27.7%NT$90.00NT$44.00n/a3
Aug ’25NT$79.70
NT$71.33
-10.5%
27.7%NT$90.00NT$44.00n/a3
Jul ’25NT$86.00
NT$85.25
-0.9%
29.3%NT$111.00NT$44.00n/a4
Jun ’25NT$79.70
NT$81.00
+1.6%
26.5%NT$96.00NT$44.00n/a4
Nov ’24NT$46.40
NT$53.50
+15.3%
23.4%NT$66.00NT$41.00NT$94.202
Oct ’24NT$48.30
NT$53.50
+10.8%
23.4%NT$66.00NT$41.00NT$99.202
Sep ’24NT$44.90
NT$53.50
+19.2%
23.4%NT$66.00NT$41.00NT$82.902
Aug ’24NT$51.10
NT$54.50
+6.7%
21.1%NT$66.00NT$43.00NT$79.702
Jul ’24NT$59.00
NT$54.50
-7.6%
21.1%NT$66.00NT$43.00NT$86.002
Jun ’24NT$57.10
NT$54.50
-4.6%
21.1%NT$66.00NT$43.00NT$79.702
May ’24NT$65.00
NT$58.00
-10.8%
13.8%NT$66.00NT$50.00NT$50.702
Apr ’24NT$68.50
NT$61.00
-10.9%
18.0%NT$72.00NT$50.00NT$44.552
Mar ’24NT$78.60
NT$62.50
-20.5%
15.2%NT$72.00NT$53.00NT$49.902
Feb ’24NT$76.70
NT$62.50
-18.5%
15.2%NT$72.00NT$53.00NT$49.652
Jan ’24NT$80.10
NT$95.58
+19.3%
49.6%NT$161.74NT$53.00NT$55.003
Dec ’23NT$75.30
NT$95.58
+26.9%
49.6%NT$161.74NT$53.00NT$48.653
Nov ’23NT$66.00
NT$96.58
+46.3%
48.2%NT$161.74NT$56.00NT$46.403

Analyst Forecast: Target price is lower than the current share price.

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