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Taiwan High Speed Rail Corporation

Taiwan High Speed Rail Corporation

TTWSE:2633
26.50
TWD
+0.15
(+0.57%)
1.24EPS
21.36P/E
149.15BMarket Cap
Nov 05Next Earn
Taiwan High Speed Rail Corporation
TWSE:2633
(Taiwan Stock Exchange)

Recent

price

26.50

P/E

ratio

21.36

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
TWD
10.61
12.37
13.04
13.86
14.78
17.89
7.24
7.72
8.07
8.44
6.95
5.36
6.6
8.85
9.48
9.72
9.95
Revenue per Share
-0.46
2.22
0.58
1.26
2.12
7.19
0.74
0.95
1.9
1.42
1.04
0.64
0.67
1.39
1.15
1.17
1.24
Basic EPS, GAAP
2
5.66
4.12
5.72
6.78
5.56
0.58
3.59
4.32
4.65
-0.69
4.11
0.82
3.84
1.51
1.91
2.84
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
0.65
0.6
0.75
1.12
1.21
1.05
0.76
0.67
1.02
1.05
- -
Dividend per Share
-6.38
-0.72
-0.15
1.1
1.84
10.74
10.85
11.2
12.33
12.63
12.45
12.04
11.96
12.67
12.81
12.93
12.45
Book Value per Share
-6.39
-182.44
-177.75
-172.75
-167.19
-67.7
-64.85
-62.22
-58.95
-56.69
-54.77
-53.36
-51.94
-49.89
-48.64
-47.93
-47.89
Tangible Book Value per Share
2,604
2,605
2,605
2,605
2,605
2,901
5,610
5,628
5,628
5,628
5,628
5,642
5,628
5,629
5,610
5,624
5,602
Basic Weighted Avg Shares
27,635
32,237
33,985
36,101
38,509
51,901
40,611
43,435
45,415
47,507
39,137
30,228
37,133
49,812
53,186
54,648
55,713
Sales/Revenue/Turnover
32.83
37.41
34.01
31.56
30.88
39.61
33.73
40.88
42.16
43.18
30.17
10.98
26.72
41.22
40.42
39.34
39.32
Operating Margin (%)
9,515
10,669
13,363
15,098
17,013
20,623
15,717
13,903
13,776
14,001
14,176
14,259
13,636
13,672
14,477
13,798
13,915
Depreciation Expense
-1,210
5,784
1,504
3,289
5,534
20,873
4,149
5,340
10,696
8,007
5,843
3,611
3,769
7,824
6,451
6,580
6,949
Net Income, GAAP
- -
- -
19.63
- -
- -
- -
16.98
17.57
- -
- -
- -
15.35
11.63
19.65
19.77
18.92
16.13
Effective Tax Rate (%)
-4.38
17.94
4.43
9.11
14.37
40.22
10.22
12.29
23.55
16.85
14.93
11.95
10.15
15.71
12.13
12.04
12.47
Profit Margin (%)
11,980
17,084
29,991
34,795
46,329
23,995
8,913
13,541
8,983
29,431
31,554
19,948
3,186
-7,875
-5,423
-821
-9,888
Working Capital
383,832
453,064
453,357
445,649
445,609
410,115
379,852
366,120
339,930
284,538
276,609
270,479
245,334
222,610
219,047
220,400
220,647
LT Debt
23,577
38,307
39,797
43,061
44,991
60,203
61,064
63,018
69,413
71,077
70,087
67,778
67,290
71,336
72,075
72,773
70,054
Total Equity
- -
- -
1.87
- -
- -
- -
2.43
3.32
- -
- -
- -
0.8
2.55
5.01
5.47
5.72
6.04
Return on Invested Capital (%)
- -
- -
1.96
- -
- -
- -
2.37
2.61
- -
- -
- -
2.42
2.7
4.06
3.76
3.89
4.05
Return on Capital (%)
- -
- -
- -
- -
144.27
64.22
6.84
8.61
16.15
11.4
8.28
5.24
5.58
11.29
9
9.09
9.65
Return on Common Equity (%)

Capital Structure

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
8,838
8,832
7,493
LT Borrowings
220,339
220,467
220,596
LT Finance Leases
61
66
51
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
5,628
5,628
5,628
Market Capitalization
157,592
148,306
149,150

Working Capital

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
25,553
31,299
33,029
Cash, Cash Equivalents & STI
21,338
26,573
28,511
Accounts Receivable, Net
285
321
329
Inventories
2,775
3,354
3,321
Total Current Liabilities
26,374
26,660
42,917
Payables & Accruals
- -
- -
- -
ST Debt
8,838
8,832
7,493
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
1.98%
0.8%
0.97%
Free Cash Flow
-8.43%
-88.26%
26.75%
Net Income, GAAP
5.49%
11.64%
2%
Sales/Revenue/Turnover
2.05%
8.75%
2.75%
Total Cash Common Dividend
- -
0.51%
2.94%

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
13,378
13,125
13,248
13,435
53,186
2025
13,374
13,361
- -
14,540
54,648
2026
13,891
13,922
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.37
0.29
0.25
0.24
1.15
2025
0.33
0.29
- -
0.28
1.17
2026
0.37
0.3
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
1.02
2025
- -
- -
- -
- -
1.05
2026
- -
- -
- -
- -
- -
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Business
Taiwan High Speed Rail Corporation (2633.TW) constructs, operates, and maintains a 350-kilometer high-speed railway system connecting 12 stations from Nangang in Taipei to Zuoying in Kaohsiung, providing passenger transportation services including standard, business-class, and non-reserved seating options; high-speed rail ticketing via the T-EX app and online platforms; ancillary services such as commercial space rentals, station parking, media advertising, retailing, and onboard cart sales; and related facilities management across Taiwan. Founded in 1998 and headquartered at No. 66, Jingmao 2nd Road, 13th Floor, Nangang District, Taipei, the company serves domestic passengers with a focus on safe, punctual, and efficient intercity travel, employing approximately 4,800 staff and reporting 2024 revenues of NT$53.19 billion from high-speed rail operations. Recent developments include signing a fourth supplementary agreement in February 2025 and a procurement contract in November 2025 with the Hitachi Toshiba Supreme Consortium for new-generation N700S rolling stock comprising 12 twelve-car trainsets to expand fleet capacity; awarding Mitsubishi Heavy Industries in October 2024 a contract for trackwork, electrification, power supplies, and signaling to upgrade the Zuoying depot's maintenance facilities amid rising ridership exceeding 73 million annually; launching the exclusive T-Shopping online platform for members in April 2024; and maintaining top ESG recognitions such as fifth place in Corporate Knights' 2025 World's 100 Most Sustainable Corporations while pursuing southern extensions toward Pingtung.