Taiwan High Speed Rail Corporation stock analysis
Taiwan High Speed Rail Corporation (2633) Stock Price & Analysis
2633 Stock Chart & Stats
- Day’s Range
- TWD 25.20 - TWD 25.75
- 52-Week Range
- TWD 24.80 - TWD 29.20
- Previous Close
- TWD 25.85
- Volume
- N/A
- Average Volume (3M)
- 3.90M
- Market Cap
- TWD 144.08B
- Enterprise Value
- TWD 354.38B
- Total Cash (Recent Filing)
- TWD 28.51B
- Total Debt (Recent Filing)
- TWD 279.05B
- Price to Earnings (P/E)
- 21.2
- Beta
- 0.14
- Next Earnings
- Feb 24, 2027 (Est.)
- EPS Estimate
- N/A
- Last Dividend Ex-Date
- Jul 14, 2026
- Dividend Yield
- 4.49%
Bulls Say, Bears Say
Bulls Say
Revenue Recovery And Growth
The sustained recovery from the pandemic-era downturn and continued revenue expansion through 2025 indicate that the rail network has regained operating momentum. Continued top-line growth supports capacity utilization, recurring fare income, and the company’s ability to fund ongoing infrastructure needs.
Strong Profitability
Consistently high gross and operating profitability provides a durable earnings foundation for a capital-intensive railway operator. Strong margins can support service reliability, infrastructure investment, and debt servicing while giving the company greater resilience when passenger demand or operating conditions fluctuate.
Improved Free Cash Flow
The sharp improvement in 2025 free cash flow, together with near one-to-one conversion of net income, shows that recent accounting earnings are translating effectively into cash. This strengthens the company’s capacity to maintain its rail assets, meet financial obligations, and support longer-term operations.
Bears Say
High Leverage
Persistently high leverage is the clearest structural constraint on the company’s financial profile. Large debt obligations reduce flexibility to respond to weaker operating conditions, increase exposure to refinancing costs, and may limit the funds available for infrastructure upgrades or other strategic priorities.
Cash Flow Volatility
Although the latest cash generation improved, the history of negative operating cash flow and sizeable free-cash-flow swings indicates that cash conversion is not consistently stable. Such variability can complicate capital planning and make it harder to balance maintenance, investment, debt service, and shareholder distributions.
Earnings And Margin Volatility
The prior revenue declines and the lower net margin in 2025 show that earnings performance remains sensitive to operating conditions despite strong underlying profitability. This variability can reduce predictability of future earnings and may constrain the pace at which the company can sustainably expand investment or distributions.
2633 FAQ
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Company Description
Taiwan High Speed Rail Corporation
The Taiwan High Speed Rail Corporation (THSRC) is responsible for the operation and management of the nation's rapid transit rail system. Its extensive 345-kilometer network establishes crucial connections between major cities across the island, serving stations such as Taipei, Banqiao, Taoyuan, Hsinchu, Taichung, Chiayi, Tainan, and Kaohsiung. This entity was founded in 1998, with its principal offices located in Taipei, Taiwan.
- Sector
- General
- Industry
- Railroads
- CEO
- Hui-Yui Chen
- Employees
- 5,006
- Website
- www.thsrc.com.tw
- Address
- No. 66, Jingmao 2nd Road, Taipei, TPE, 11568, TW
Taiwan High Speed Rail Corporation (2633) Earnings & Revenues
Technical Analysis
Overall Consensus
| Indicator | Bullish | Neutral | Bearish |
|---|---|---|---|
| Overall Consensus | 7 | 2 | 13 |
| Technical Analysis | 6 | 2 | 2 |
| Moving Averages | 1 | 0 | 11 |

