This　study　selected　cross-section　data　for　17　port　companies　listed　on　the　Shanghai　Stock　Exchange　and　Shenzhen　Stock　Exchange　in　2014　and　2019　and　evaluated　efficiency　with　a　three-stage　data　envelopment　analysis　model.　The　results　showed　that,　compared　with　2014,　the　average　comprehensive　technical　efficiency　in　2019　decreased　to　a　certain　extent;　the　comprehensive　technical　efficiency　of　six　companies　was　lower　than　the　average;　and　the　pure　technical　efficiency　of　four　companies　was　lower　than　the　average　level.　In　terms　of　returns　to　scale,　more　than　35%　of　companies　had　resource　allocation　problems.　In　general,　the　operating　efficiency　of　the　17　listed　port　companies　showed　a　trend　of　obvious　polarization.　For　specific　companies,　the　utilization　rate　of　resources　and　technology　of　eight　companies　(namely,　Zhuhai　Port,　Rizhao　Port,　Jinzhou　Port,　Tianjin　Port,　Lianyungang,　Dalian　Port,　Ningbo　Port,　Huaihe　Energy)　was　relatively　low.　Four　companies　(namely,　Chongqing　Gangjiu,　Tianjin　Port,　Ningbo　Port,　Huaihe　Energy)　showed　decreasing　returns　to　scale.　It　is　necessary　to　integrate　enterprise　resources,　formulate　a　reasonable　port-management　system,　pay　attention　to　the　training　of　technical　personnel,　and　control　the　moderate　expansion　of　company　scale.