Starlux Airlines Co (TPE:2646) ROE %: -2.54% (As of Dec. 2025)


TPE:2646 Starlux Airlines Co Ltd TPE:2646
48 GF Score
Price NT$21.20
GF Value NT$31.65
Valuation Possible Value Trap
! 9 Warning Signs
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What is Starlux Airlines Co ROE %?

Starlux Airlines Co TPE:2646 -3.42% 48 ROE % is -2.54% as of Dec. 2025. GuruFocus rates TPE:2646 with a GF Score™ of 48/100 and a GF Value™ of NT$31.65 (Possible Value Trap). The stock has 9 warning signs investors should review. Among 983 Transportation companies, Starlux Airlines Co ranks worse than 79.86% on this metric.

ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Starlux Airlines Co's annualized net income for the quarter that ended in Dec. 2025 was NT$-808 Mil. Starlux Airlines Co's average Total Stockholders Equity over the quarter that ended in Dec. 2025 was NT$31,865 Mil. Therefore, Starlux Airlines Co's annualized ROE % for the quarter that ended in Dec. 2025 was -2.54%.

The historical rank and industry rank for Starlux Airlines Co's ROE % or its related term are showing as below:

TPE:2646' s ROE % Range Over the Past 10 Years
Min: -101.96   Med: -24.07   Max: 6.48
Current: 0.86

During the past 7 years, Starlux Airlines Co's highest ROE % was 6.48%. The lowest was -101.96%. And the median was -24.07%.

TPE:2646's ROE % is ranked worse than
79.86% of 983 companies
in the Transportation industry
Industry Median: 7.6 vs TPE:2646: 0.86

Starlux Airlines Co  (TPE:2646) ROE % Explanation

ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.

The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:

ROE %(Q: Dec. 2025 )
=Net Income/Total Stockholders Equity
=-808.132/31864.8325
=(Net Income / Revenue )*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(-808.132 / 45425.756)*(45425.756 / 133889.966)*(133889.966 / 31864.8325)
=Net Margin %*Asset Turnover*Equity Multiplier
=-1.78 %*0.3393*4.2018
=ROA %*Equity Multiplier
=-0.6 %*4.2018
=-2.54 %

With this breakdown, it is clear that if a company grows its Net Profit Margin, its Asset Turnover, or its Leverage, it can grow its ROE %.

The factors that affect a company's ROE % can also be illustrated with the five-step DuPont Analysis:

ROE %(Q: Dec. 2025 )
=Net Income/Total Stockholders Equity
=-808.132/31864.8325
=(Net Income / Pre-Tax Income) * (Pre-Tax Income / Operating Income) * (Operating Income / Revenue) * (Revenue / Total Assets) * (Total Assets / Total Stockholders Equity)
= (-808.132 / -808.132) * (-808.132 / 709.988) * (709.988 / 45425.756) * (45425.756 / 133889.966) * (133889.966 / 31864.8325)
= Tax Burden * Interest Burden * Operating Margin % * Asset Turnover * Equity Multiplier
= 1 * -1.1382 * 1.56 % * 0.3393 * 4.2018
=-2.54 %

Note: The net income data used here is four times the quarterly (Dec. 2025) net income data. The Revenue data used here is four times the quarterly (Dec. 2025) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.

* 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.


Be Aware

Net Income is used.

Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.


Starlux Airlines Co ROE % Related Terms


Starlux Airlines Co ROE % Historical Data

* Premium members only.

The historical data trend for Starlux Airlines Co's ROE % 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.

Starlux Airlines Co ROE % Chart

Starlux Airlines Co Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROE %
Get a 7-Day Free Trial -67.79 -101.96 1.76 6.48 0.89

Starlux Airlines Co Quarterly Data
Dec19 Dec20 Dec21 Jun22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
ROE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -3.37 12.14 0.10 -5.44 -2.54

TPE:2646 vs DAL, UAL, LUV: ROE % Comparison

For the Airlines subindustry, Starlux Airlines Co's ROE %, along with its competitors' market caps and ROE % 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.


Starlux Airlines Co ROE % vs Transportation Industry

For the Transportation industry and Industrials sector, Starlux Airlines Co's ROE % distribution charts can be found below:

* The bar in red indicates where Starlux Airlines Co's ROE % falls into.


TPE:2646
48GF Score
Starlux Airlines Co Ltd TPE:2646
ROE % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Starlux Airlines Co ROE % Calculation

Starlux Airlines Co's annualized ROE % for the fiscal year that ended in Dec. 2025 is calculated as

ROE %=Net Income (A: Dec. 2025 )/( (Total Stockholders Equity (A: Dec. 2024 )+Total Stockholders Equity (A: Dec. 2025 ))/ count )
=272.608/( (29838.451+31396.288)/ 2 )
=272.608/30617.3695
=0.89 %

Starlux Airlines Co's annualized ROE % for the quarter that ended in Dec. 2025 is calculated as

ROE %=Net Income (Q: Dec. 2025 )/( (Total Stockholders Equity (Q: Sep. 2025 )+Total Stockholders Equity (Q: Dec. 2025 ))/ count )
=-808.132/( (32333.377+31396.288)/ 2 )
=-808.132/31864.8325
=-2.54 %

* 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.

In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data, the net income data used here is four times the quarterly (Dec. 2025) net income data. ROE % is displayed in the 30-year financial page.

Frequently Asked Questions Learn more about ROE % →
What does a ROE % of -2.54% mean?
Starlux Airlines Co (TPE:2646) has a ROE % of -2.54% as of Dec. 2025. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Starlux Airlines Co and its competitors. According to the industry distribution chart, Starlux Airlines Co ranks #785 out of 983 companies in the Transportation industry, placing it in the top 79.9%.
Is Starlux Airlines Co's ROE % too high?
Starlux Airlines Co's current ROE % is -2.54%. Based on the distribution chart, Starlux Airlines Co ranks #785 out of 983 companies in the Transportation industry, which is in the bottom quartile relative to peers. Overall, Starlux Airlines Co has a GF Score™ of 48/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Starlux Airlines Co's ROE % compare to DAL and UAL?
According to the Transportation industry distribution chart, Starlux Airlines Co ranks #785 out of 983 companies for ROE %. This places Starlux Airlines Co in the lower half of its industry. The industry median ROE % is 7.60. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % for a Transportation company?
The median ROE % among Transportation companies is 7.60, based on 983 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Starlux Airlines Co and its competitors. For the Transportation industry, the median ROE % is 7.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Starlux Airlines Co's current ROE % is -2.54%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Starlux Airlines Co stock overvalued right now?
Based on GuruFocus' analysis, Starlux Airlines Co (TPE:2646) is currently considered Possible Value Trap. The stock's GF Value™ is NT$31.65, compared to a current price of NT$21.20 — trading 33% below its estimated fair value. The current ROE % is -2.54%. Starlux Airlines Co's overall GF Score™ is 48/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Starlux Airlines Co (TPE:2646), the current ROE % is -2.54% 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 Starlux Airlines Co (TPE:2646) Overvalued in 2026?

Based on GuruFocus' analysis, Starlux Airlines Co stock appears to be undervalued. The current stock price of NT$21.20 is trading 33% below its estimated GF Value™ of NT$31.65. GuruFocus considers Starlux Airlines Co to be Possible Value Trap.

Key valuation signals for TPE:2646:

  • ROE %: -2.54%
  • GF Value™: NT$31.65 vs. price of NT$21.20 (33% below fair value)
  • GF Score™: 48/100 with 9 warning signs

No single metric tells the full story. See the TPE:2646 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Starlux Airlines Co Business Description

Address Zhongxiao E. Road, Section 4, No. 525, 11th Floor, Xinyi District, Taipei, TWN, 11470
Starlux Airlines Co Ltd is an airline company that offers airline services. The company provides civil air transportation, civil aviation personnel training, and other services. It offers flights to more than ten Northeast Asia, Southeast Asia, and Macau destinations. Geographically, the company generates maximum revenue from Taiwan, and the rest from Asia (excluding Taiwan), North America, and other regions.
48GF Score

Get the complete analysis for TPE:2646

ROE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

NT$21.20
Price
NT$31.65
GF Value