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Aircraft maintenance, repair and overhaul (MRO) provider based in Taiwan, affiliated with the Evergreen/EVA Air group.
Aircraft maintenance, repair and overhaul (MRO) provider based in Taiwan, affiliated with the Evergreen/EVA Air group.
Bills airlines for labour hours and parts on each maintenance check or overhaul, so revenue follows how many aircraft arrive and how large the work scope is. EVA Air is both group affiliate and a steady source of work, with other airlines filling spare capacity.
In one line: A regional MRO shop, like a smaller AAR Corp.
Moat: narrow (customer qualification, process know-how, installed base). FAA/EASA-certified MRO base with long-standing ties to parent EVA Air's fleet.
Headquarters: Taoyuan, Taiwan · Employees: 3,221
Size Evergreen Aviation Technologies (2645.TW) is a Taiwan Industrials company (Other Transportation) with a market value of $1.67B, the 190th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$147.00 on 6 Nov 2026.
Performance Over six months the shares fell 8.1%, against -2.2% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 10.4% over the last twelve months (peer median +4.0%); the operating margin is 17.2% (peer median 15.7%).
Valuation It trades at 16.2× forward earnings against a peer median of 13.1× (5th most expensive of 16).
Price implies For today's price to make sense, revenue must grow about -1% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 12.3 points above its cost of capital (5.0% WACC).
Next results Next results expected around 16 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$19.3B | NT$18.2B | NT$16.3B | NT$14.8B | NT$11.8B |
| Revenue growth | — | +12% | +10% | +25% | — |
| Gross profit | NT$3.97B | NT$3.58B | NT$3.01B | NT$2.51B | NT$1.77B |
| EBITDA | NT$4.11B | NT$3.76B | NT$3.16B | NT$2.68B | NT$2.23B |
| Net income | NT$2.94B | NT$2.04B | NT$1.84B | NT$1.83B | NT$1.58B |
| Free cash flow | NT$2.44B | NT$3.01B | NT$1.79B | NT$1.99B | NT$1.03B |
| Capital expenditure | NT$606M | NT$520M | NT$287M | NT$253M | NT$165M |
| Total debt | NT$7.96B | NT$7.32B | NT$7.72B | NT$8.24B | NT$9.30B |
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 |
|---|---|---|---|---|---|---|
| Evergreen Aviation Technologies 2645.TW | $1.67B | -8% | +10% | 17% | 16.2× | -1.0% |
| Singapore Technologies Engineering S63.SI | $22.6B | -13% | +11% | 9% | 27.3× | 5.3% |
| SIA Engineering S59.SI | $2.51B | -10% | -3% | 3% | 17.7× | 19.3% |
| Aar AIR | $4.39B | -7% | +22% | 9% | 18.4× | 13.2% |
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 | 2645.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -14.5% | +0.1% | lowest of 21 |
| 6-month return | -8.1% | -2.2% | 6th lowest of 21 |
| Distance from 52-week high | -43.0% | -12.8% | 4th lowest of 21 |
| Revenue growth (TTM) | +10.4% | +4.0% | 3rd highest of 21 |
| Operating margin | 17.2% | 15.7% | 10th highest of 21 |
| Forward P/E | 16.2× | 13.1× | 5th most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | -1.0% | -0.5% | 7th least demanding of 14 |
| Growth delivered (Del g) | +11.2% | +5.4% | 5th highest of 14 |
| Hurdle (Req g minus delivered) | -12.3 pp | -9.5 pp | 6th least demanding of 14 |
| ROIC minus cost of capital | +12.3 pp | -0.9 pp | highest of 21 |
| EV / EBITDA | 13.9× | 11.3× | 6th most expensive of 14 |
| Net debt / EBITDA | 0.5× | 3.6× | 3rd least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Evergreen Aviation Technologies 2645.TW | Taiwan | $1.67B | -8% | +10% | 17% | 16.2× | -1.0% | +11.2% |
| Hamburger Hafen und Logistik HHFA.DE | Germany | $1.72B | -2% | +3% | 7% | n/a | n/a | n/a |
| FirstGroup FGP.L | United Kingdom | $1.60B | +40% | -6% | 5% | 11.4× | -7.6% | +1.9% |
| Dongguan Development (Holdings) 000828.SZ | China | $1.57B | -3% | -4% | 39% | 10.7× | 0.7% | +4.4% |
| Sotetsu 9003.T | Japan | $1.55B | -4% | +9% | 13% | 10.1× | n/a | n/a |
| Shreeji Shipping Global SHREEJISPG.NS | India | $1.53B | +111% | +21% | 24% | n/a | n/a | n/a |
| Fujian Expressway Development 600033.SS | China | $1.51B | +1% | -3% | 47% | n/a | -16.1% | +5.6% |
| Shenzhen International 0152.HK | Hong Kong | $1.49B | -35% | +15% | 11% | 6.1× | n/a | n/a |
| Hainan Strait Shipping 002320.SZ | China | $1.88B | -34% | +4% | 23% | 70.1× | -0.5% | +36.7% |
| Tianjin Port 600717.SS | China | $1.89B | -2% | -8% | 18% | n/a | -14.6% | -1.6% |
| Westshore Terminals Investment WTE.TO | Canada | $1.90B | +16% | -16% | 33% | 26.3× | 11.9% | -2.6% |
| Henan Zhongyuan Expressway 600020.SS | China | $1.43B | +5% | -11% | 20% | 9.4× | 5.9% | +5.4% |
| Hutchison Port Holdings Trust NS8U.SI | Singapore | $1.96B | +7% | +5% | 42% | 15.3× | -10.5% | +1.7% |
| Nishi-Nippon Railroad 9031.T | Japan | $1.37B | 0% | +10% | 7% | 9.0× | n/a | n/a |
| NANKAI 9044.T | Japan | $2.03B | 0% | +7% | 15% | 13.1× | n/a | n/a |
| Shenzhen Airport 000089.SZ | China | $2.08B | -5% | +5% | 17% | 14.2× | -6.4% | +11.4% |
| Comfortdelgro C52.SI | Singapore | $2.19B | -10% | +9% | 9% | 15.0× | -8.2% | +9.3% |
| Xizang Tianlu 600326.SS | China | $1.24B | -35% | -8% | 0% | 26.3× | 24.9% | -13.0% |
| Nagoya Railroad 9048.T | Japan | $2.38B | +8% | -2% | 5% | 11.0× | n/a | n/a |
| SIA Engineering S59.SI | Singapore | $2.51B | -10% | -3% | 3% | 17.7× | 19.3% | +26.3% |
| StorageVault Canada SVI.TO | Canada | $1.09B | -4% | +9% | 23% | n/a | 21.9% | +16.6% |