FEAF
TWSE

2636 台驊控股

71.00 ▲ 0.40 (0.57%) Close · 2026-11-13 · TWSE
Ask about 2636
This is research, not a buy or sell recommendation. Robo-advice in Taiwan requires an FSC licence; FEAF analyses, explains and monitors, and the investor makes the decision. Judgement thresholds are working rules pending review by the team's finance members.

Plain-language summary of valuation, growth, profitability, balance sheet, and recent MOPS filings.

Your risk profile
Conclusion

Mixed picture: 3 strengths against 2 watch-outs. Weigh them against your own goals.

Points to watch for a moderate profile: see the items marked above.

In plain words

Stock 2636 trades at a P/E ratio of 7.47, well below the Shipping and transportation median of 9.74 across 25 peers, with market expectations remaining attainable. Following an 18.3% revenue drop in 2025, Q3 2026 revenue rebounded by 82.0% year-on-year, alongside a 12.0% return on equity and positive 2025 free cash flow of 1,961 NT$ million. However, liabilities account for a heavy debt load of 56.5% of total assets as of Q3 2026. Ultimately, all investment decisions rest entirely in the hands of the investor.

Written by gemini-3.6-flash from the facts above; every number was checked against them.

Strengths

+ The current price implies -20.2% perpetual growth, within the 3.5% ceiling: expectations look attainable. source (Valuation) →
+ P/E 7.47 is well below the Shipping and transportation median of 9.74 (25 listed peers): priced cheaper than peers. source (Key Stats) →
+ Free cash flow was positive in 2025: 1,961 NT$ million. source (Financials) →

Watch-outs

! Revenue fell -18.3% in 2025; latest quarter Q3 2026: 82.0% year on year. source (Financials) →
! Liabilities are 56.5% of total assets (Q3 2026): a heavy debt load. source (Financials) →

What to check before deciding

?Is the revenue decline temporary or structural?
?Can operating cash cover the debt if conditions tighten?

What the analysis found

+ Valuation (DCF) The current price implies -20.2% perpetual growth, within the 3.5% ceiling: expectations look attainable. source →
+ Valuation vs peers P/E 7.47 is well below the Shipping and transportation median of 9.74 (25 listed peers): priced cheaper than peers. source →
! Growth Revenue fell -18.3% in 2025; latest quarter Q3 2026: 82.0% year on year. source →
· Profitability Return on equity 12.0% with a 5.2% net margin: moderate profitability. source →
! Debt Liabilities are 56.5% of total assets (Q3 2026): a heavy debt load. source →
+ Cash flow Free cash flow was positive in 2025: 1,961 NT$ million. source →
· Filings 1 verified alert(s); latest on 2026-11-12: 本公司民國115年度第三季合併財務報表業經董事會決議通過 source →
· Filings 1 filing(s) are held or rejected and wait for human review. source →