Eva Airways Corporation (2618) AI Stock Analysis

Eva Airways Corporation

(TWSE:2618)

Select Model

Rating:81Outperform

Price Target:TWD 50.00▲(5.04% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is supported primarily by strong financial performance and attractive valuation, with additional support from positive technical positioning. Margin compression, weaker cash conversion, and the absence of current earnings-call information prevent a higher score.

Positive Factors

Revenue RecoveryThe sharp revenue recovery demonstrates restored demand across EVA Air’s passenger and cargo operations after the 2020 trough. Continued top-line expansion can support network investment, improve fixed-cost absorption, and strengthen the company’s competitive position over the next several quarters.

Negative Factors

Margin SofteningProfitability declining while revenue remains at a similar level suggests that cost or pricing pressure is limiting operating leverage. If this pattern persists, EVA Air may capture less earnings from future growth, reducing the durability of its recent recovery and constraining reinvestment capacity.

Eva Airways Corporation (2618) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 254.36B
Dividend Yield: 4.20%
Average Volume (3M): 21.24M
Price to Earnings (P/E): 9.6
Beta (1Y): 0.09
Revenue Growth: 14.95%
EPS Growth: 2.04%
Country: TW
Employees: 10,974
Sector: General
Sector Strength: 55
Industry: Airlines, Airports & Air Services

Eva Airways Corporation Business Overview & Revenue Model

Company Description

EVA Airways Corp. is a Taiwan-based company that, along with its subsidiaries, operates a comprehensive global aviation business, extending its services across Taiwan, Asia, Europe, North America, and other international markets. Its diverse operatio...

Eva Airways Corporation Financial Statement Overview

Summary

Strong profitability, improving leverage, and positive free cash flow support the score. Recent margin compression, higher debt, and weaker cash conversion limit the upside.

Income Statement

84Very Positive

Balance Sheet

82Very Positive

Cash Flow

74Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	238.37B	220.33B	221.01B	200.36B	138.07B	103.87B
Gross Profit	50.27B	51.63B	54.02B	43.28B	19.71B	19.32B
EBITDA	63.86B	65.99B	70.77B	61.87B	38.96B	38.40B
Net Income	25.64B	26.15B	29.01B	21.59B	7.09B	6.61B
Balance Sheet
Total Assets	394.09B	364.82B	353.68B	330.18B	319.53B	325.31B
Cash, Cash Equivalents and Short-Term Investments	101.55B	86.23B	76.78B	68.85B	69.26B	50.54B
Total Debt	74.01B	76.45B	55.63B	53.07B	80.81B	111.31B
Total Liabilities	245.84B	217.60B	221.94B	213.16B	223.29B	232.61B
Stockholders Equity	139.34B	138.30B	123.20B	106.98B	87.94B	85.66B
Cash Flow
Free Cash Flow	44.65B	27.68B	30.91B	45.01B	59.42B	22.06B
Operating Cash Flow	68.21B	55.22B	58.05B	68.20B	63.15B	34.97B
Investing Cash Flow	-22.09B	-24.88B	-23.72B	-21.83B	957.80M	-11.79B
Financing Cash Flow	-20.92B	-21.15B	-26.68B	-46.98B	-44.98B	-15.80B

Eva Airways Corporation Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2618 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:2618	81Outperform	TWD 249.23B	9.63	―	4.20%	14.95%	2.04%
TW:2610	71Outperform	TWD 140.06B	9.67	―	3.47%	15.47%	-2.40%
TW:2615	70Outperform	TWD 312.89B	7.59	―	2.70%	14.17%	49.02%
TW:2609	64Neutral	TWD 203.24B	7.33	―	3.38%	3.49%	2.44%
TW:2633	57Neutral	TWD 143.24B	20.74	―	4.55%	5.19%	7.97%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

TW:2618 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2618	Eva Airways Corporation	47.60	14.16	42.33%
TW:2609	Yang Ming Marine Transport Corp.	59.10	7.06	13.58%
TW:2610	China Airlines Ltd.	23.50	4.55	24.01%
TW:2615	Wan Hai Lines Ltd.	111.00	30.24	37.44%
TW:2633	Taiwan High Speed Rail Corporation	25.30	-1.82	-6.70%
TW:2646	STARLUX AIRLINES CO., LTD.	20.05	-3.45	-14.68%

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 10, 2026

Eva Airways Corporation AI Stock Analysis