T.S. Lines Limited (HK:2510)
:2510
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T.S. Lines Limited
(2510)
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Rating:69Neutral
Price Target:
HK$9.50
▲(17.72% Upside)
Action:DowngradedDate:04/11/26
The score is driven primarily by solid financial fundamentals (notably low leverage and supportive operating cash flow) and attractive valuation (low P/E and high dividend yield). These positives are tempered by weak technicals, with negative momentum and the price below major moving averages, and by the business’s pronounced cyclicality and uneven free-cash-flow history.
Positive Factors
Strong Balance Sheet
Very low leverage and meaningful deleveraging materially raise the firm's financial resilience. Conservatively financed capital structure provides flexibility for cyclicality, supports dividend policy or opportunistic investment, and lowers refinancing risk across multi-month cycles.
Negative Factors
Cyclical Revenue & Earnings
Pronounced cyclicality reduces earnings predictability and makes multi-month outlooks vulnerable to demand swings. Volatile top-line compresses planning visibility, risks margin erosion in downcycles and can force reactive capacity or pricing moves that depress long-term returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Balance Sheet
Very low leverage and meaningful deleveraging materially raise the firm's financial resilience. Conservatively financed capital structure provides flexibility for cyclicality, supports dividend policy or opportunistic investment, and lowers refinancing risk across multi-month cycles.
Read all positive factors
T.S. Lines Limited (2510) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$13.65B
Dividend Yield10.4%
Average Volume (3M)3.48M
Price to Earnings (P/E)5.4
Beta (1Y)0.42
Revenue GrowthN/A
EPS GrowthN/A
CountryHK
Employees908
SectorServices
Sector StrengthN/A
IndustryMarine Shipping
Share Statistics
EPS (TTM)N/A
Shares Outstanding1,665,031,000
10 Day Avg. Volume3,364,140
30 Day Avg. Volume3,476,784
Financial Highlights & Ratios
PEG Ratio-0.06
Price to Book (P/B)0.84
Price to Sales (P/S)1.38
P/FCF Ratio5.55
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$13.50Price Target Upside67.29% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
T.S. Lines Limited Business Overview & Revenue Model
Company Description
T.S. Lines Ltd. engages in the provision of container shipping and related services. It operates a shipping network independently and through arrangements with other carriers including joint services, slot exchange, and slot chartering. The compan...
How the Company Makes Money
T.S. Lines makes money mainly by selling containerized ocean freight transportation on its scheduled liner services. Its core revenue stream is freight charges collected from customers (e.g., shippers and freight forwarders) for moving containers ...
T.S. Lines Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
66
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.29B | 1.34B | 874.60M | 2.44B | 1.84B |
| Gross Profit | 254.07M | 315.03M | -33.79M | 1.09B | 931.47M |
| EBITDA | 367.29M | 545.61M | 225.60M | 1.33B | 1.21B |
| Net Income | 329.39M | 365.91M | 20.71M | 1.07B | 1.08B |
Balance Sheet | |||||
| Total Assets | 2.46B | 2.32B | 2.16B | 2.77B | 2.25B |
| Cash, Cash Equivalents and Short-Term Investments | 485.62M | 422.13M | 716.34M | 1.32B | 868.09M |
| Total Debt | 149.65M | 477.07M | 878.36M | 1.64B | 541.95M |
| Total Liabilities | 338.21M | 346.49M | 388.18M | 622.39M | 799.14M |
| Stockholders Equity | 2.12B | 1.97B | 1.77B | 2.15B | 1.45B |
Cash Flow | |||||
| Free Cash Flow | 319.32M | -62.79M | -267.51M | 1.14B | 691.45M |
| Operating Cash Flow | 520.28M | 480.66M | 129.00M | 1.37B | 1.17B |
| Investing Cash Flow | -200.97M | -517.25M | -169.99M | -175.88M | -471.28M |
| Financing Cash Flow | -255.07M | -256.93M | -562.87M | -744.77M | -1.20M |
T.S. Lines Limited Technical Analysis
Positive
8.07
Price Trends
9.05
Negative
8.64
Positive
8.79
Negative
Market Momentum
-0.13
Negative
50.86
Neutral
86.61
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 8.07 is below the 20-day moving average (MA) of 8.51, below the 50-day MA of 9.05, and below the 200-day MA of 8.79, indicating a neutral trend. The MACD of -0.13 indicates Negative momentum. The RSI at 50.86 is Neutral, neither overbought nor oversold. The STOCH value of 86.61 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 |
|---|---|---|---|---|---|---|---|
82 Outperform | HK$84.78B | 7.76 | 48.55% | 9.80% | 11.50% | 17.54% | |
71 Outperform | HK$89.08B | 7.02 | 11.33% | 12.81% | -9.21% | -41.30% | |
69 Neutral | HK$13.65B | 5.38 | 18.24% | 10.40% | ― | ― | |
65 Neutral | HK$244.79B | 6.39 | 13.13% | 12.48% | -6.12% | -35.50% | |
63 Neutral | HK$15.44B | 26.23 | 2.51% | 2.88% | -19.46% | -55.11% | |
60 Neutral | HK$121.10B | 10.71 | 9.13% | 4.76% | 2.50% | -2.32% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% |
* Services Sector Average
HK:2510
T.S. Lines Limited
8.29
2.77
50.18%
HK:1919
COSCO SHIPPING Holdings Co
14.44
4.13
40.02%
HK:1138
COSCO SHIPPING Energy Transportation Co
17.25
11.30
190.06%
HK:0316
Orient Overseas (International)
135.30
38.69
40.05%
HK:2343
Pacific Basin Shipping
3.07
1.43
86.74%
HK:1308
SITC International Holdings Co., Ltd.
31.76
13.62
75.07%
T.S. Lines Limited Corporate Events
T.S. Lines Sets 2026 AGM, Proposes Dividend and Share Buyback Mandate
Apr 8, 2026
T.S. Lines Limited has called its annual general meeting for May 21, 2026 in Hong Kong, where shareholders will review and approve the audited consolidated financial statements for the year ended December 31, 2025. The board is also proposing a fi...
T.S. Lines Posts Lower 2025 Profit but Maintains Dividend Amid Shipping Margin Normalization
Mar 20, 2026
T.S. Lines Limited reported 2025 revenue of about US$1.28 billion, down 4.2% year on year, with gross profit falling 19.5% to roughly US$253.7 million amid higher cost pressures relative to sales. Profit attributable to equity shareholders decline...
T.S. Lines Declares Final 2025 Dividend With USD/HKD Currency Option
Mar 20, 2026
T.S. Lines Limited has declared a final ordinary dividend of USD 0.10 per share for the financial year ended December 31, 2025, with payment subject to shareholder approval on May 21, 2026. Shareholders may receive the dividend in either U.S. doll...
T.S. Lines Orders Six Container Vessels in US$252.9 Million Fleet Expansion
Mar 20, 2026
T.S. Lines Limited has committed to expand its container fleet with the construction of six 2,900 TEU vessels under shipbuilding contracts signed with Fujian Mawei and Xiamen Shipbuilding. The orders comprise two vessels contracted in November 202...
T.S. Lines Sets March 20 Board Meeting to Approve 2025 Results and Consider Dividend
Mar 9, 2026
T.S. Lines Limited has scheduled a board meeting for March 20, 2026 to review and approve the consolidated annual results for the financial year ended December 31, 2025. The board will also consider recommending a final dividend, signaling a forth...
T.S. Lines Sells Container Vessel TS SHENZHEN to Connected Party, Books Disposal Gain and Agrees Short-Term Charter
Jan 22, 2026
T.S. Lines Limited has agreed to sell its container vessel TS SHENZHEN, owned by a wholly owned subsidiary and registered in the Marshall Islands, to a company controlled by its controlling shareholders’ family for US$23 million, representin...
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.