Good Finance Securities Co Ltd (6021) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Good Finance Securities Co Ltd stock TWD 30.76, price TWD 50.60, that is 39.2% below the price, quality 42 out of 100. Rating: strongly overvalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
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Good Finance Securities Co Ltd
6021 · TWOOur calculation puts a fair price 39% below what the stock costs today.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range 14.35 TWD – 58.00 TWD · fair‑value band 27.52 TWD – 38.07 TWD · the 50.60 TWD price screens above the 30.76 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Company profile
Good Finance Securities Co., Ltd., together with its subsidiaries, engages in the securities commission agency and brokerage business in Taiwan. It operates through Client Partner, Investment, Investment bank, Futures, and All Other segments.
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The company is also involved in securities and bonds dealing; trading of financial instruments relating to interest rate and bills and bonds under repurchase or resale agreements; securities underwriting; futures trading agency and brokerage services; and provision of research and analysis for securities investment.
In addition, it engages in the brokerage of marketable securities on the centralized securities exchange market; operating securities trading margin purchase and short sales; proprietary trading of securities; concurrent operation of futures business; consignment trading of foreign securities; agent for stock affairs; securities investment consulting business; and other securities-related businesses.
The company was formerly known as Ta Ching Securities Co., Ltd. and changed its name to Good Finance Securities Co., Ltd. in December 2021.nGood Finance Securities Co., Ltd. was incorporated in 1988 and is headquartered in Taipei, Taiwan.
Stock analysis
Good Finance Securities Co Ltd (6021) currently trades at 50.60 TWD, while our model-based Fair Value estimate is 30.76 TWD, 39% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 38.23 TWD per share, and 0 of the 6 models we run sit above the 50.60 TWD price.
Bear case: the Asset-Based group reads lowest at 21.05 TWD, and 6 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: 27.52 TWD (bear) to 38.07 TWD (bull), the price of 50.60 TWD sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 42/100 (below-average quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Good Finance Securities Co Ltd reported revenue of 1.3B TWD in FY2025 versus 1.4B TWD in FY2021, a compound −1.1%/yr. Reported net income was 1.2B TWD in FY2025, compounding +37.9%/yr from FY2021.
Key figures
Market cap 15.1B TWD (≈ $460M) Small · P/E ratio 4.4 · P/S ratio 3.31 · EPS (TTM) 11.55 TWD · Dividend yield 5.9% · Net margin 77.0% · Return on equity 34.9% · Return on assets (EBIT) 1.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 77 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 106% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −11% fair-value upside, at −39%, 6021 screens richer than that median.
Fair Value models
All 6 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
6021 screens overvalued: fair value 39% below the price. Compare with Morgan Stanley →
Compare Good Finance Securities Co Ltd with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Capital Markets · 384 stocks
Valuation Multiplesvs Capital Markets median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Return on assets by industry
- Fair value gap by industry
- Stock screener with 62 metrics
- Undervalued stocks: Taiwanese Stocks
- Valuation of the Taiwan market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Morgan Stanley MS | $181.44 | $260.72 | +44% | vs 6021 |
| The Charles Schwab Corporation SCHW | $91.49 | $117.60 | +29% | vs 6021 |
| Guotai Haitong Securities Co 601211 | ¥16.46 | ¥18.02 | +9% | vs 6021 |
| Nomura Holdings NMR | $9.42 | $10.17 | +8% | vs 6021 |
| The Goldman Sachs Group GS | $865.82 | $766.86 | −11% | vs 6021 |
| CITIC Securities Company 600030 | ¥25.72 | ¥20.42 | −21% | vs 6021 |
| Robinhood Markets, Inc HOOD | $80.91 | $47.60 | −41% | vs 6021 |
| Macquarie Group MQG | A$247.94 | A$123.84 | −50% | vs 6021 |
| East Money Information Co 300059 | ¥18.78 | ¥6.72 | −64% | vs 6021 |
| Interactive Brokers Group IBKR | $75.82 | $17.48 | −77% | vs 6021 |
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Frequently asked questions
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Key figures of Good Finance Securities Co Ltd
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