1. Taiwan Stocks

  2. •

    Transportation

  3. •

    Marine shipping
Yang Ming Marine Transport Corp.

Yang Ming Marine Transport Corp.

TTWSE:2609
61.90
TWD
-0.20
(-0.32%)
4.52EPS
11.72P/E
181.59BMarket Cap
Nov 18Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
76.27
86.46
77.84
71.34
81.54
54.52
57.35
56.95
98.4
107.64
40.27
63.77
46.84
46.93
Basic EPS, GAAP
-1.89
0.21
-4.71
-9.22
0.2
-2.53
-1.66
4.51
48.73
51.71
1.37
18.38
4.9
4.44
Free Cash Flow per Basic Share
-7.24
-2.62
-5.54
-8.11
-0.04
-3.1
3.27
9.96
59.72
57.7
-3.28
22.42
-3.17
-0.9
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
20
20
2
7.5
- -
Book Value per Share
24.37
27.56
21.71
11.06
11.21
8.54
6.33
11.26
66.92
98.21
79.32
97.52
93.31
93.67
Tangible Book Value per Share
24.33
27.53
21.68
10.98
11.16
8.49
6.28
11.24
66.9
98.17
79.27
97.48
93.27
93.52
Basic Weighted Avg Shares
1,559
1,559
1,639
1,618
1,608
2,601
2,601
2,656
3,391
3,492
3,492
3,492
3,492
3,494
Sales/Revenue/Turnover
118,874
134,778
127,559
115,400
131,078
141,833
149,181
151,277
333,687
375,900
140,624
222,706
163,558
163,968
Operating Margin (%)
-5.08
2.07
-5.06
-12.76
0.59
-4
-0.45
12.89
61
58.69
-1.2
30.35
9.12
6.2
Depreciation Expense
7,207
6,563
6,360
6,471
6,451
6,507
16,871
17,202
17,511
20,078
20,528
19,937
20,143
19,897
Net Income, GAAP
-2,946
320
-7,722
-14,912
321
-6,591
-4,310
11,977
165,269
180,592
4,774
64,179
17,097
15,505
Effective Tax Rate (%)
- -
55.84
- -
- -
22.52
- -
- -
24.54
18.17
22.52
55.05
19.23
25.43
14.75
Profit Margin (%)
-2.48
0.24
-6.05
-12.92
0.24
-4.65
-2.89
7.92
49.53
48.04
3.39
28.82
10.45
9.46
Working Capital
-2,641
3,490
-4,903
-17,261
-17,453
-12,857
-25,431
-13,488
153,320
262,649
166,054
221,947
163,093
160,193
LT Debt
63,444
69,754
72,465
68,629
53,708
63,928
63,663
52,132
33,128
37,481
30,612
17,812
12,127
11,430
Total Equity
33,573
38,446
31,731
16,279
26,510
20,295
17,082
36,335
234,323
343,786
277,701
341,313
326,602
327,910
Return on Invested Capital (%)
- -
1.06
- -
- -
0.56
- -
- -
13.27
78.7
47.12
-0.2
15.62
3.06
2.52
Return on Capital (%)
- -
0.85
- -
- -
1.45
- -
- -
13.09
84.97
54.62
1.58
19.16
5.49
5.36
Return on Common Equity (%)
-8.73
0.91
-22.55
-63.66
1.53
-28.74
-23.75
45.94
122.71
62.63
1.54
20.79
5.13
4.87

Capital Structure

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
7,564
8,171
6,884
LT Borrowings
1,581
1,398
695
LT Finance Leases
10,546
11,356
10,736
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
3,492
3,492
3,492
Market Capitalization
194,510
181,589
181,589

Working Capital

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
207,162
211,388
210,116
Cash, Cash Equivalents & STI
174,765
181,869
179,292
Accounts Receivable, Net
13,224
12,772
13,291
Inventories
4,099
4,745
6,691
Total Current Liabilities
44,069
47,890
49,923
Payables & Accruals
- -
- -
- -
ST Debt
7,564
8,171
6,884
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
67.86%
118.2%
-4.31%
Free Cash Flow
1,189.02%
-67.91%
-114.13%
Net Income, GAAP
-21.3%
472.55%
-73.36%
Sales/Revenue/Turnover
12.13%
20.49%
-26.56%
Total Cash Common Dividend
- -
- -
275%

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
43,801
52,589
72,838
53,477
222,706
2025
45,510
38,663
42,092
37,293
163,558
2026
38,661
45,923
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2.69
3.98
8.12
3.59
18.38
2025
2.23
0.28
1.73
0.65
4.9
2026
0.41
1.64
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
2
2025
- -
- -
- -
- -
7.5
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Ming-Hui Lee
Full Time Employees
5,876
Sector
Transportation
Industry
Marine shipping
Address
No. 271, Ming De 1st Road Keelung Taiwan 20646
IPO Date
Apr 20, 1992
Website
yangming.com
Similar Companies
Frontline Plc (NYSE:FRO)
ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)
DHT Holdings, Inc. (NYSE:DHT)
Great Eastern Shipping Co. Ltd. (NSE:GESHIP)
Okeanis Eco Tankers Corp. (NYSE:ECO)
International Seaways, Inc. (NYSE:INSW)
Business
Yang Ming Marine Transport Corporation (2609.TW), founded in 1972 and headquartered in Keelung, Taiwan, operates as a leading Taiwanese container shipping company with government backing, providing global ocean transportation services across Asia, Europe, the Americas, Australia, and Africa through an extensive network of over 230 service locations in more than 80 countries. The company maintains a fleet of approximately 101 container vessels with capacities up to 14,000 TEU, including classes such as W-class (14,000+ TEU), T-class (11,700-12,700 TEU), and upcoming orders; 17 bulk carriers managed via subsidiaries like Guangming Marine Transport and Kuang Ming Shipping; liner services, terminal operations in Taiwan, Belgium, Netherlands, and the USA; stevedoring at Port of Kaohsiung; logistics through Yes Logistics Corp. and Jing Ming Transport Co.; container haulage, warehousing, repair, chartering, insurance, cargo consolidation, and inland forwarding; as well as ship, container, and chassis purchase and sales. Yang Ming belongs to the Premier Alliance with HMM Co Ltd and Ocean Network Express, offering comprehensive container shipping solutions to diverse customers including importers, exporters, and freight forwarders. Recent developments include the 2025 launch of enhanced Trans-Atlantic services connecting Continental Europe to US East and West Coasts starting February; orders in June 2025 for three 8,000 TEU methanol dual-fuel-ready containerships from Shoei Kisen Kaisha (deliveries 2028-2029), followed by contracts in October 2025 for three additional units from Nihon Shipyard and Imabari Shipbuilding; a $120 million purchase of 40,400 containers from CIMC and Guangdong Fuwa in July 2025 to support fleet expansion; commissioning of seven 16,000 TEU LNG dual-fuel containerships from Hanwha Ocean with ammonia-ready specs; plans for up to seven 15,000-15,880 TEU LNG dual-fuel vessels and four new fuel-efficient Handymax bulk carriers via Kuang Ming Shipping in October 2025; and acquisition of an office tower in Taipei's Nangkang district in October 2025 to consolidate operations across multiple buildings. These initiatives reflect Yang Ming's strategic focus on fleet modernization, sustainability through alternative fuels, network optimization amid Red Sea disruptions and regulatory pressures like EU ETS and FuelEU Maritime, and capacity growth to counter market challenges including 6.8% global capacity increase projected for 2025.