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Younger Taiwanese premium airline founded by a former EVA Air chairman, flying a new A321neo/A330neo fleet across Asia.
Younger Taiwanese premium airline founded by a former EVA Air chairman, flying a new A321neo/A330neo fleet across Asia.
Earns from passenger ticket sales, with growth coming from adding aircraft and routes, including long-haul flights to the US West Coast. The fleet is new, so maintenance costs are lower, but fuel and airport charges are costs it cannot control. As a young airline it is still spending heavily on deliveries and route launches.
In one line: A Taiwanese newcomer blending JetBlue-style service with regional reach.
Moat: none (brand). New entrant still building brand and network; no structural cost or scale edge yet.
Headquarters: Taoyuan, Taiwan · Founded: 2018 · Employees: 5,935
Size Starlux Airlines (2646.TW) is a Taiwan Industrials company (Airlines) with a market value of $1.76B, the 183rd largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$19.35 on 6 Nov 2026.
Performance Over six months the shares fell 6.1%, against +9.3% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 23.0% over the last twelve months (peer median +9.7%); the operating margin is 1.2% (peer median 6.1%).
Valuation It trades at 52.3× forward earnings against a peer median of 13.0× (4th most expensive of 15).
Capital Return on invested capital runs 4.4 points below its cost of capital (5.0% WACC).
Next results Next results expected around 18 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$50.6B | NT$44.1B | NT$35.5B | NT$22.5B | NT$3.36B |
| Revenue growth | — | +24% | +58% | +568% | — |
| Gross profit | NT$5.28B | NT$5.97B | NT$6.49B | NT$3.34B | -NT$3.68B |
| EBITDA | NT$8.58B | NT$8.81B | NT$8.03B | NT$5.11B | -NT$2.63B |
| Net income | -NT$996M | NT$273M | NT$1.32B | NT$149M | -NT$5.27B |
| Free cash flow | -NT$9.94B | -NT$11.9B | -NT$18.6B | -NT$8.05B | -NT$10.5B |
| Capital expenditure | NT$21.8B | NT$20.1B | NT$29.7B | NT$16.3B | NT$9.43B |
| Total debt | NT$62.6B | NT$56.2B | NT$40.8B | NT$26.1B | NT$38.9B |
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 |
|---|---|---|---|---|---|---|
| Starlux Airlines 2646.TW | $1.76B | -6% | +23% | 1% | 52.3× | n/a |
| China Airlines 2610.TW | $3.94B | +17% | +8% | 8% | 9.9× | n/a |
| Eva Airways 2618.TW | $7.12B | +28% | +6% | 14% | 10.1× | -17.0% |
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 | 2646.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.5% | +7.3% | 6th lowest of 21 |
| 6-month return | -6.1% | +9.3% | 8th lowest of 21 |
| Distance from 52-week high | -21.3% | -26.7% | 8th highest of 21 |
| Revenue growth (TTM) | +23.0% | +9.7% | 3rd highest of 21 |
| Operating margin | 1.2% | 6.1% | 8th lowest of 21 |
| Forward P/E | 52.3× | 13.0× | 4th most expensive of 15 |
| ROIC minus cost of capital | -4.4 pp | -0.0 pp | 7th lowest of 21 |
| EV / EBITDA | 12.4× | 4.4× | most expensive of 14 |
| Net debt / EBITDA | 5.6× | 2.2× | 4th most indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Starlux Airlines 2646.TW | Taiwan | $1.76B | -6% | +23% | 1% | 52.3× | n/a | n/a |
| Frontier ULCC | United States | $1.71B | +40% | +24% | -15% | 1,818.4× | 31.6% | +24.4% |
| Milkyway Intelligent Supply Chain Service 603713.SS | China | $1.90B | +29% | +15% | 8% | 16.8× | n/a | n/a |
| Virgin Australia VGN.AX | Australia | $1.48B | +18% | +9% | 11% | 6.6× | -13.4% | +4.9% |
| Wizz Air WIZZ.L | United Kingdom | $1.48B | +8% | +11% | -2% | n/a | 3.4% | +49.5% |
| Norwegian Air Shuttle NAS.OL | Norway | $1.47B | -11% | +3% | 6% | 22.0× | -16.5% | +35.8% |
| CITIC Offshore Helicopter 000099.SZ | China | $1.41B | -31% | -9% | 12% | 30.3× | 1.8% | +7.5% |
| JetBlue Airways JBLU | United States | $1.38B | -28% | +10% | -6% | n/a | n/a | n/a |
| China Express Airlines 002928.SZ | China | $1.34B | -12% | +4% | -17% | 155.2× | n/a | n/a |
| Grupo Aeromexico, S.A.B. de C.V. Unsponsored ADR AERO | United States | $2.32B | +1% | +10% | 11% | 10.4× | -6.6% | +32.3% |
| Allegiant Travel ALGT | United States | $2.51B | +11% | +12% | 9% | 12.7× | n/a | n/a |
| Asiana Airlines 020560.KS | South Korea | $1.21B | +13% | -17% | -12% | n/a | n/a | n/a |
| Finnair FIA1S.HE | Finland | $1.14B | +38% | +11% | 4% | 9.4× | -9.6% | +30.2% |
| SkyWest SKYW | United States | $3.02B | -10% | +7% | 14% | 7.5× | 2.2% | +13.8% |
| Republic Airways RJET | United States | $942M | -12% | +438% | 11% | n/a | 2.8% | +25.2% |
| Azul S.A. Sponsored ADR AZUL | United States | $915M | +86% | +12% | 14% | 13.3× | n/a | n/a |
| Juneyao Airlines 603885.SS | China | $3.42B | -8% | +8% | 1% | 69.5× | 0.4% | +17.4% |
| Controladora Vuela Compania de Aviacion SAB de CV Sponsored ADR VLRS | United States | $850M | +3% | +19% | -5% | n/a | -13.7% | +23.8% |
| China Airlines 2610.TW | Taiwan | $3.94B | +17% | +8% | 8% | 9.9× | n/a | n/a |
| Air Canada AC.TO | Canada | $3.95B | +10% | +13% | 2% | n/a | 14.3% | +30.8% |
| Air France-KLM AF.PA | France | $3.99B | +34% | +5% | 6% | 4.7× | -6.3% | +24.4% |