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Taiwan dry-bulk shipping company operating a fleet of bulk carriers hauling grain, coal, ore and other commodities.
Taiwan dry-bulk shipping company operating a fleet of bulk carriers hauling grain, coal, ore and other commodities.
Earns freight or charter hire per voyage or per day, partly under contracts to carry agreed cargo volumes, so profit swings with freight rates and fuel costs unless ships are tied into longer charters.
In one line: A Taiwanese Genco Shipping & Trading.
Moat: none (scale). Dry-bulk shipping is a commoditized, cyclical business with rates set by global vessel supply/demand.
Headquarters: Taipei, Taiwan · Employees: 165
Size Wisdom Marine Lines (2637.TW) is a Taiwan Industrials company (Marine Shipping) with a market value of $2.13B, the 162nd largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$94.40 on 6 Nov 2026.
Performance Over six months the shares gained 27.6%, against +2.9% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 10.3% over the last twelve months (peer median +10.9%); the operating margin is 33.4% (peer median 21.5%).
Valuation It trades at 9.1× forward earnings against a peer median of 8.0× (6th most expensive of 19).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -9 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.8 points above its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$19.3B | NT$16.9B | NT$20.4B | NT$17.0B | NT$24.9B |
| Revenue growth | — | -17% | +20% | -32% | — |
| Gross profit | NT$6.63B | NT$4.22B | NT$6.95B | NT$3.63B | NT$11.7B |
| EBITDA | NT$11.0B | NT$8.72B | NT$11.7B | NT$8.24B | NT$16.1B |
| Net income | NT$6.71B | NT$3.94B | NT$6.03B | NT$3.27B | NT$10.6B |
| Free cash flow | NT$4.76B | NT$6.40B | NT$8.39B | NT$5.71B | NT$14.2B |
| Capital expenditure | NT$5.42B | NT$2.56B | NT$4.52B | NT$6.62B | NT$4.95B |
| Total debt | NT$31.9B | NT$31.4B | NT$37.3B | NT$41.3B | NT$45.2B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Wisdom Marine Lines 2637.TW | $2.13B | +28% | +10% | 33% | 9.1× | -1.8% |
| U-Ming Marine Transport 2606.TW | $1.70B | +6% | +13% | 29% | 8.7× | -3.8% |
| Genco Shipping & Trading GNK | $1.13B | 0% | +26% | 17% | 10.2× | n/a |
| Star Bulk Carriers SBLK | $2.99B | 0% | +6% | 28% | 5.7× | -0.1% |
| Pacific Basin Shipping 2343.HK | $2.22B | +6% | -6% | 6% | 9.0× | 7.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 2637.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.4% | -9.7% | 5th highest of 21 |
| 6-month return | +27.6% | +2.9% | 4th highest of 21 |
| Distance from 52-week high | -12.6% | -18.1% | 7th highest of 21 |
| Revenue growth (TTM) | +10.3% | +10.9% | 10th lowest of 20 |
| Operating margin | 33.4% | 21.5% | 7th highest of 21 |
| Forward P/E | 9.1× | 8.0× | 6th most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | -1.8% | -3.5% | 8th most demanding of 17 |
| Growth delivered (Del g) | +7.2% | +10.1% | 3rd lowest of 17 |
| Hurdle (Req g minus delivered) | -8.9 pp | -14.8 pp | 8th most demanding of 17 |
| ROIC minus cost of capital | +1.8 pp | +1.2 pp | 10th highest of 21 |
| EV / EBITDA | 8.8× | 6.2× | 5th most expensive of 15 |
| Net debt / EBITDA | 2.4× | 1.3× | 4th most indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Wisdom Marine Lines 2637.TW | Taiwan | $2.13B | +28% | +10% | 33% | 9.1× | -1.8% | +7.2% |
| Great Eastern Shipping GESHIP.NS | India | $2.16B | -8% | +24% | 42% | 5.1× | 8.2% | +10.1% |
| Pacific Basin Shipping 2343.HK | Hong Kong | $2.22B | +6% | -6% | 6% | 9.0× | 7.9% | +7.3% |
| PanOcean 028670.KS | South Korea | $1.91B | -12% | +24% | 9% | 5.0× | n/a | n/a |
| Clarkson CKN.L | United Kingdom | $1.90B | -5% | +15% | 14% | 13.9× | 5.2% | +12.0% |
| Navios Maritime Partners LP NMM | United States | $2.42B | +14% | +19% | 39% | 3.9× | n/a | n/a |
| Sumitomo Warehouse 9303.T | Japan | $1.87B | +4% | +2% | 6% | 16.3× | 11.3% | +0.4% |
| CSSC (Hong Kong) Shipping 3877.HK | Hong Kong | $1.85B | -4% | -10% | 60% | 7.2× | -3.2% | +14.9% |
| T.S. Lines 2510.HK | Hong Kong | $2.48B | +38% | -4% | 19% | 5.8× | -6.9% | +9.8% |
| Stolt-Nielsen SNI.OL | Norway | $1.82B | +4% | -5% | 11% | 8.8× | -4.5% | +9.5% |
| Nanjing Tanker 601975.SS | China | $2.50B | -21% | +12% | 26% | 9.0× | -8.4% | +7.6% |
| Capital Tankers CAPT.OL | Norway | $2.57B | +45% | n/a | 37% | 7.3× | n/a | n/a |
| U-Ming Marine Transport 2606.TW | Taiwan | $1.70B | +6% | +13% | 29% | 8.7× | -3.8% | +12.8% |
| Danaos DAC | United States | $2.70B | +10% | +2% | 48% | 5.3× | -8.7% | +17.7% |
| Shanghai Jinjiang Shipping (Group) 601083.SS | China | $2.75B | +17% | +11% | 24% | 11.3× | -18.7% | +15.2% |
| Ningbo Ocean Shipping 601022.SS | China | $1.58B | -7% | +13% | 11% | n/a | n/a | n/a |
| NS United Kaiun Kaisha,Ltd 9110.T | Japan | $1.58B | +39% | +11% | 11% | n/a | -5.0% | +10.7% |
| Costamare CMRE | United States | $1.54B | -28% | -42% | 44% | 5.2× | -6.9% | +13.0% |
| Shenzhen Yan Tian Port 000088.SZ | China | $2.97B | +2% | +19% | 12% | 16.5× | 21.8% | +10.1% |
| MITSUI-SOKO 9302.T | Japan | $1.52B | -22% | +6% | 7% | 17.8× | -1.6% | +3.4% |
| Star Bulk Carriers SBLK | United States | $2.99B | 0% | +6% | 28% | 5.7× | -0.1% | +8.5% |