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Sincere NavigationTPE:2605 +4.98%84 Gross Margin % is 45.87% as of Dec. 2025, which is 82% above its 10-year median of 25.26. GuruFocus rates TPE:2605 with a GF Score™ of 84/100 and a GF Value™ of NT$28.06 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 981 Transportation companies, Sincere Navigation ranks better than 61.16% on this metric.
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Sincere Navigation had a gross margin of 45.87% for the quarter that ended in Dec. 2025 => Durable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Sincere Navigation Gross Margin % Related Terms
Sincere Navigation Gross Margin % Historical Data
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The historical data trend for Sincere Navigation's Gross Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Marine Shipping subindustry, Sincere Navigation's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Sincere Navigation Gross Margin % vs Transportation Industry
For the Transportation industry and Industrials sector, Sincere Navigation's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Sincere Navigation's Gross Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Sincere Navigation (TPE:2605) has a Gross Margin % of 45.87% as of Dec. 2025. Gross margin is the ratio of total gross profit to net sales. View historical data on Sincere Navigation and its competitors. This is 82% above median its historical median of 25.26. Over the past decade, Sincere Navigation's Gross Margin % has ranged from 13.59 to 30.13. According to the industry distribution chart, Sincere Navigation ranks #381 out of 981 companies in the Transportation industry, placing it in the top 38.8%.
Is Sincere Navigation's Gross Margin % too high?
Sincere Navigation's current Gross Margin % of 45.87% is 82% above median its 10-year median of 25.26. Over the past 10 years, this metric has ranged from a low of 13.59 to a high of 30.13. The Transportation industry median Gross Margin % is 20.42. Sincere Navigation's value of 45.87% is 124.6% above this industry median. Based on the distribution chart, Sincere Navigation ranks #381 out of 981 companies in the Transportation industry, which is above the industry midpoint. Overall, Sincere Navigation has a GF Score™ of 84/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Sincere Navigation's Gross Margin % compare to competitors?
According to the Transportation industry distribution chart, Sincere Navigation ranks #381 out of 981 companies for Gross Margin %. This puts Sincere Navigation in the upper half of its industry. The industry median Gross Margin % is 20.42. Sincere Navigation's value of 45.87% is 124.6% above this benchmark. Historically, Sincere Navigation's own Gross Margin % has ranged from 13.59 to 30.13 over the past decade. While the company's 10-year median is 25.26 vs. the industry median of 20.42, Sincere Navigation has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for a Transportation company?
The median Gross Margin % among Transportation companies is 20.42, based on 981 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Sincere Navigation's current Gross Margin % of 45.87% is 124.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Sincere Navigation and its competitors. For the Transportation industry, the median Gross Margin % is 20.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Sincere Navigation's current Gross Margin % is 45.87%, which is 82% above median its own 10-year median of 25.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sincere Navigation stock overvalued right now?
Based on GuruFocus' analysis, Sincere Navigation (TPE:2605) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$28.06, compared to a current price of NT$31.25 — trading 11.4% above its estimated fair value. The current Gross Margin % is 45.87%, which is 82% above median its 10-year median of 25.26 and 124.6% above the Transportation industry median of 20.42. Sincere Navigation's overall GF Score™ is 84/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Sincere Navigation (TPE:2605), the current Gross Margin % is 45.87% as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Sincere Navigation (TPE:2605) Overvalued in 2026?
Based on GuruFocus' analysis, Sincere Navigation stock appears to be overvalued.
The current stock price of NT$31.25 is trading 11.4% above its estimated GF Value™ of NT$28.06.
GuruFocus considers Sincere Navigation to be Modestly Overvalued.
Key valuation signals for TPE:2605:
Gross Margin %: 45.87% (82% above median its 10-year median of 25.26)
GF Value™: NT$28.06 vs. price of NT$31.25 (11.4% above fair value)
Industry Position: 124.6% above the Transportation median (#381 of 981)
No single metric tells the full story. See the TPE:2605 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Sincere Navigation Corp is a bulk shipping transportation company in Taiwan. The company's main business line is to provide an integrated shipping solution. It provides a consistent, high-quality transportation service to customers around the world in key industries such as coal and iron ore mining, steel, energy, and paper. It provides tug and barge services. Its segment includes the Bulk carrier and Oil tanker segments. It derives the majority of the revenue from the Bulk carrier segment.
84GF Score
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