CSBC Corp. Taiwan (2208) AI Stock Analysis

CSBC Corp. Taiwan

(TWSE:2208)

Select Model

Rating:40Underperform

Price Target:TWD 16.00▼(-4.48% Downside)

Action:initiatedcoverage

Date:11/10/26

Weak financial performance from ongoing losses and high leverage is the dominant factor. Oversold technical conditions offer limited support while high valuation metrics exert additional downward pressure.

Positive Factors

2025 Revenue ReboundThe strong 2025 revenue rebound indicates that demand and execution recovered after the prior-year decline. If sustained, renewed top-line activity can improve operating absorption, support backlog conversion, and provide a foundation for restoring profitability over the next several quarters.

Negative Factors

Persistent UnprofitabilityOperating and net losses across four consecutive years, together with negative gross profit, indicate that core costs remain above revenue. Persistent unprofitability weakens internal funding capacity and makes any recovery dependent on sustained execution and improved project economics.

CSBC Corp. Taiwan (2208) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 21.48B
Dividend Yield: ―
Average Volume (3M): 2.73M
Price to Earnings (P/E): 42.6
Beta (1Y): 0.65
Revenue Growth: -11.51%
EPS Growth: ―
Country: TW
Employees: 2,979
Sector: General
Sector Strength: 55
Industry: Aerospace & Defense

CSBC Corp. Taiwan Business Overview & Revenue Model

Company Description

Established in 1973 and headquartered in Kaohsiung, Taiwan, CSBC Corporation operates as a prominent entity in the global shipbuilding and marine services industry. The company excels in the construction, fabrication, and maintenance of a wide variet...

CSBC Corp. Taiwan Financial Statement Overview

Summary

Persistent negative margins, elevated leverage above 3x debt-to-equity, and volatile negative cash flows create significant financial strain despite recent revenue rebound.

Income Statement

32Negative

Balance Sheet

22Negative

Cash Flow

18Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	17.53B	21.78B	14.49B	21.48B	21.99B	19.11B
Gross Profit	-189.48M	-2.21B	-3.06B	-2.41B	-3.10B	555.22M
EBITDA	427.32M	-1.96B	-1.60B	-1.75B	-2.43B	1.03B
Net Income	624.89M	-2.26B	-2.78B	-4.03B	-3.53B	13.23M
Balance Sheet
Total Assets	53.34B	46.42B	34.02B	39.30B	46.64B	43.72B
Cash, Cash Equivalents and Short-Term Investments	1.35B	1.91B	3.62B	7.33B	2.48B	2.77B
Total Debt	31.01B	22.57B	14.06B	19.46B	22.89B	14.27B
Total Liabilities	45.81B	39.28B	24.95B	32.63B	36.82B	30.46B
Stockholders Equity	7.59B	7.18B	9.10B	6.69B	9.81B	13.24B
Cash Flow
Free Cash Flow	-17.43B	-10.37B	-3.42B	7.27B	-8.72B	-1.43B
Operating Cash Flow	-15.85B	-9.52B	-2.86B	8.33B	-7.82B	798.01M
Investing Cash Flow	-1.56B	-848.43M	-527.94M	-914.32M	-1.07B	-2.78B
Financing Cash Flow	15.40B	8.66B	-303.59M	-2.56B	8.62B	3.47B

CSBC Corp. Taiwan Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2208 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:2605	70Outperform	TWD 18.61B	6.67	―	3.06%	22.26%	399.46%
TW:9958	63Neutral	TWD 20.28B	10.57	―	6.03%	35.63%	31.07%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:1609	47Neutral	TWD 25.02B	12.21	―	2.17%	16.53%	42.90%
TW:2208	40Underperform	TWD 21.41B	42.59	―	―	-11.51%	―
TW:2014	39Underperform	TWD 21.68B	-79.56	―	―	-17.47%	84.17%

* General Sector Average

Performance Comparison

TW:2208 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2208	CSBC Corp. Taiwan	16.75	-2.85	-14.54%
TW:1609	Ta Ya Electric Wire & Cable Co., Ltd.	32.20	-7.27	-18.42%
TW:2014	Chung Hung Steel Corporation	15.10	0.20	1.34%
TW:2605	Sincere Navigation Corporation	32.70	10.04	44.28%
TW:7786	Dong Fang Offshore Co., Ltd.	108.00	-74.16	-40.71%
TW:9958	Century Iron & Steel Industrial Co., Ltd.	73.10	-57.63	-44.08%

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.

Date of analysis: Nov 09, 2026

CSBC Corp. Taiwan AI Stock Analysis