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T.S. Lines Limited
(2510)
Select Model
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Rating:70Outperform
Price Target:
HK$15.50
▲(14.64% Upside)
Action:Reiterated
Date:09/06/26
The score is primarily supported by strong financial flexibility (very low leverage) and attractive valuation (low P/E and high dividend yield). These positives are moderated by cyclicality and uneven free-cash-flow durability, and technically the stock looks extended with overbought RSI/Stoch despite a strong uptrend.
Positive Factors
Low leverage
Very low leverage gives T.S. Lines meaningful financial flexibility across shipping cycles. A conservatively financed balance sheet can reduce funding pressure during weaker freight markets and leave more capacity to maintain operations, invest selectively, or withstand earnings volatility.
Negative Factors
Highly cyclical revenue
Sharp revenue contractions make earnings power less predictable and complicate long-term planning. Because liner shipping results depend on freight demand, capacity, and route conditions, weaker revenue periods can quickly reduce utilization and pressure profitability over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
Very low leverage gives T.S. Lines meaningful financial flexibility across shipping cycles. A conservatively financed balance sheet can reduce funding pressure during weaker freight markets and leave more capacity to maintain operations, invest selectively, or withstand earnings volatility.
Read all positive factors
T.S. Lines Limited (2510) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$23.63B
Dividend Yield9.73%
Average Volume (3M)4.20M
Price to Earnings (P/E)7.7
Beta (1Y)0.52
Revenue GrowthN/A
EPS GrowthN/A
CountryHK
Employees956
SectorGeneral
Sector StrengthN/A
IndustryMarine Shipping
Share Statistics
EPS (TTM)0.22
Shares Outstanding1,665,031,000
10 Day Avg. Volume4,907,068
30 Day Avg. Volume4,197,360
Financial Highlights & Ratios
PEG Ratio-0.47
Price to Book (P/B)6.50
Price to Sales (P/S)10.71
P/FCF Ratio43.17
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$18.00Price Target Upside33.14% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.25
Revenue Forecast (FY)HK$1.38B
T.S. Lines Limited Business Overview & Revenue Model
Company Description
T.S. Lines Ltd. specializes in providing container shipping and related logistics services. The company manages an extensive shipping network, operating both independently and in partnership with other carriers through arrangements such as joint s...
How the Company Makes Money
T.S. Lines primarily makes money by selling container shipping capacity on its liner services—charging customers (direct shippers and freight forwarders/logistics providers) to move containerized cargo between ports on scheduled routes. Revenue is...
T.S. Lines Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.30B | 1.29B | 10.41B | 6.83B | 19.07B | 14.33B |
| Gross Profit | 293.92M | 254.07M | 2.45B | -263.86M | 8.52B | 7.26B |
| EBITDA | 451.92M | 489.54M | 4.24B | 1.76B | 10.39B | 9.46B |
| Net Income | 372.50M | 329.39M | 2.84B | 161.72M | 8.38B | 8.40B |
Balance Sheet | ||||||
| Total Assets | 2.67B | 2.46B | 18.03B | 16.87B | 21.64B | 17.52B |
| Cash, Cash Equivalents and Short-Term Investments | 559.25M | 485.62M | 3.28B | 5.59B | 10.30B | 6.77B |
| Total Debt | 167.02M | 149.65M | 3.71B | 6.86B | 12.82B | 4.23B |
| Total Liabilities | 487.14M | 338.21M | 2.69B | 3.03B | 4.86B | 6.23B |
| Stockholders Equity | 2.19B | 2.12B | 15.34B | 13.83B | 16.78B | 11.28B |
Cash Flow | ||||||
| Free Cash Flow | 171.57M | 319.32M | -487.77M | -2.09B | 8.86B | 5.39B |
| Operating Cash Flow | 470.94M | 520.28M | 3.73B | 1.01B | 10.72B | 9.13B |
| Investing Cash Flow | -240.05M | -200.97M | -4.02B | -1.33B | -1.37B | -3.67B |
| Financing Cash Flow | -256.03M | -255.07M | -2.00B | -4.40B | -5.81B | -9.36M |
T.S. Lines Limited Technical Analysis
Positive
13.52
Price Trends
9.84
Positive
8.76
Positive
8.18
Positive
Market Momentum
1.31
Negative
82.71
Negative
84.56
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2510, the sentiment is Positive. The current price of 13.52 is above the 20-day moving average (MA) of 12.38, above the 50-day MA of 9.84, and above the 200-day MA of 8.18, indicating a bullish trend. The MACD of 1.31 indicates Negative momentum. The RSI at 82.71 is Negative, neither overbought nor oversold. The STOCH value of 84.56 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2510.
T.S. Lines Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | HK$120.88B | 12.31 | 47.80% | 7.05% | 5.19% | -3.90% | |
74 Outperform | HK$96.15B | 9.74 | 9.43% | 5.08% | -8.09% | -52.15% | |
70 Outperform | HK$23.63B | 7.73 | 17.30% | 9.73% | ― | ― | |
67 Neutral | HK$285.55B | 9.30 | 11.46% | 6.80% | -4.84% | -42.70% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | HK$672.70M | 10.85 | 1.90% | 4.17% | -4.13% | -19.03% |
* General Sector Average
HK:2510
T.S. Lines Limited
13.63
5.43
66.28%
HK:1919
COSCO SHIPPING Holdings Co
16.44
3.68
28.85%
HK:0316
Orient Overseas (International)
148.90
22.78
18.06%
HK:0560
Chu Kong Shipping Enterprises (Group) Co. Ltd.
0.60
-0.16
-21.36%
HK:1308
SITC International Holdings Co., Ltd.
45.36
16.78
58.70%
HK:2409
Seacon Shipping Group Holdings Ltd.
4.30
0.10
2.38%
T.S. Lines Limited Corporate Events
T.S. Lines Declares Interim Dividend for First Half of 2026
Aug 24, 2026
T.S. Lines Limited, a Hong Kong-listed container shipping company, provides maritime cargo transport services across regional and international routes to support global trade. It targets shippers and logistics customers that depend on scheduled li...
T.S. Lines Posts Strong Interim Profit Growth and Raises Dividend
Aug 24, 2026
T.S. Lines Limited reported unaudited interim revenue of US$660.4 million for the six months ended June 30, 2026, up 3.0% year-on-year, while gross profit surged 31.8% to US$167.5 million as cost of sales declined. Profit attributable to equity sh...
T.S. Lines Schedules Board Meeting to Approve 2026 Interim Results and Dividend
Aug 10, 2026
T.S. Lines Limited has scheduled a board meeting for August 24, 2026, to review and approve the interim results for the six months ended June 30, 2026. The board will also consider the declaration and payment of an interim dividend, signaling a ro...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.