First Steamship Co., Ltd. AI Stock Analysis
First Steamship Co., Ltd. (2601) AI Stock Analysis
First Steamship Co., Ltd.
(TWSE:2601)
The overall score is very low, driven primarily by severe financial distress and overwhelmingly bearish technicals. The income statement reveals collapsing revenues and deep net losses, while the stock price is in a strong downtrend below all key moving averages with deeply oversold momentum. The balance sheet's reduced leverage provides some stability, and positive cash flow offers a lifeline, but these are insufficient to offset the deteriorating fundamentals and negative market sentiment. The negative P/E and lack of a dividend further weaken the investment case.
First Steamship Co., Ltd. (2601) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 3.53B
- Dividend Yield
- ―
- Average Volume (3M)
- 3.28M
- Price to Earnings (P/E)
- -3.1
- Beta (1Y)
- 0.22
- Revenue Growth
- ―
- EPS Growth
- ―
- Country
- TW
- Employees
- 3,435
- Sector
- General
- Sector Strength
- 55
- Industry
- Marine Shipping
First Steamship Co., Ltd. Business Overview & Revenue Model
Company Description
First Steamship Co., Ltd., founded in 1963 and headquartered in Taipei, Taiwan, is a diversified company with a global presence. Its core business involves operating as a shipping company, primarily focusing on dry bulk cargo transportation. The comp...
First Steamship Co., Ltd. Financial Statement Overview
Summary
Financial performance is under severe stress. The income statement shows collapsing revenue (-66% YoY) and deep net losses, with gross margins falling to 14.5%. The balance sheet has improved via aggressive deleveraging (debt-to-equity now 0.53x), but return on equity is deeply negative at -18.2%. Cash flow remains a relative bright spot, with positive operating and free cash flow, though free cash flow growth is declining. Overall, the company is in a defensive posture, burning equity while relying on cash flow to service reduced debt.
Income Statement
15Very NegativeBalance Sheet
55NeutralCash Flow
65Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 298.19M | 1.49B | 4.85B | 5.50B | 6.33B | 6.93B |
| Gross Profit | -892.36M | 216.31M | 3.09B | 3.61B | 4.32B | 4.44B |
| EBITDA | 1.50B | 2.00B | 2.43B | 674.81M | 2.90B | 2.98B |
| Net Income | -1.30B | -1.34B | -288.77M | -1.67B | -355.43M | 53.09M |
Balance Sheet | ||||||
| Total Assets | 11.40B | 11.78B | 34.89B | 35.37B | 35.77B | 38.99B |
| Cash, Cash Equivalents and Short-Term Investments | 396.43M | 494.52M | 1.90B | 2.46B | 3.34B | 4.49B |
| Total Debt | 3.57B | 3.92B | 18.66B | 18.97B | 19.34B | 21.66B |
| Total Liabilities | 3.96B | 4.33B | 23.79B | 24.42B | 22.12B | 25.73B |
| Stockholders Equity | 7.35B | 7.36B | 9.02B | 8.73B | 10.52B | 9.82B |
Cash Flow | ||||||
| Free Cash Flow | 1.13B | 825.65M | 1.00B | 1.52B | 307.93M | 1.61B |
| Operating Cash Flow | 1.18B | 902.70M | 1.10B | 1.79B | 528.43M | 2.55B |
| Investing Cash Flow | -611.66M | -500.14M | 34.14M | -1.42B | 218.04M | -513.57M |
| Financing Cash Flow | -936.51M | -1.24B | -1.96B | -1.52B | -2.17B | -1.70B |
First Steamship Co., Ltd. Peers Comparison
Overall Rating
TW:441773Outperform
TW:570666Neutral
TW:560462Neutral
TW:274859Neutral
TW:836752Neutral- TW:260142Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:4417 | 73Outperform | TWD 4.08B | 8.59 | ― | 7.25% | 4.16% | -8.19% |
| TW:5706 | 66Neutral | TWD 3.31B | 10.84 | ― | 11.35% | -4.62% | 11.52% |
| TW:5604 | 62Neutral | TWD 3.36B | 24.76 | ― | 6.46% | 3.05% | 48.38% |
| TW:2748 | 59Neutral | TWD 3.87B | 14.19 | ― | 4.85% | 1.40% | 14.56% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:8367 | 52Neutral | TWD 3.75B | 12.21 | ― | 6.99% | 6.77% | -1.08% |
| TW:2601 | 42Neutral | TWD 3.45B | -3.12 | ― | ― | ― | ― |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:2601 | First Steamship Co., Ltd. | 5.08 | -1.67 | -24.73% | |
| TW:2748 | FDC International Hotels Corp. | 36.05 | -6.78 | -15.83% | |
| TW:4417 | King Chou Marine Technology Co., Ltd | 48.25 | -4.04 | -7.73% | |
| TW:5604 | Chung Lien Co., Ltd | 30.95 | -5.58 | -15.28% | |
| TW:5706 | Phoenix Tours International, Inc. | 40.00 | -7.23 | -15.32% | |
| TW:8367 | Chien Shing Harbour Service Co. Ltd. | 40.80 | -0.43 | -1.04% |
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