Yuanta Futures Co Ltd (6023) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Yuanta Futures Co Ltd stock TWD 47.00, price TWD 79.10, that is 40.6% below the price, quality 37 out of 100. Rating: strongly overvalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
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 31.82 TWD – 1,343 TWD · fair‑value band 40.58 TWD – 58.93 TWD · the 79.10 TWD price screens above the 47.00 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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Yuanta Futures Co., Ltd., together with its subsidiaries, engages in the futures brokerage business in Taiwan, Asia, Europe, the United States, and internationally. It operates through Brokers and Dealers segments.
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The company offers onshore and offshore futures brokerage, futures dealing, futures consulting, securities dealing, leverage transaction merchant, and other various futures-related services. It also provides information technology services.
The company was founded in 1986 and is headquartered in Taipei, Taiwan. Yuanta Futures Co., Ltd. is a subsidiary of Yuanta Financial Holding Co., Ltd.
Stock analysis
Yuanta Futures Co Ltd (6023) currently trades at 79.10 TWD, while our model-based Fair Value estimate is 47.00 TWD, 41% 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 68.66 TWD per share, and 0 of the 6 models we run sit above the 79.10 TWD price.
Bear case: the Asset-Based group reads lowest at 31.54 TWD, and 6 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: 40.58 TWD (bear) to 58.93 TWD (bull), the price of 79.10 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 37/100 (below-average quality), in the Financial Services sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Yuanta Futures Co Ltd reported revenue of 3.8B TWD in FY2025 versus 3.9B TWD in FY2021, a compound −0.7%/yr. Reported net income was 2.7B TWD in FY2025, compounding +32.5%/yr from FY2021.
Key figures
Market cap 35.3B TWD (≈ $1.1B) Small · P/E ratio 11.1 · P/S ratio 9.60 · EPS (TTM) 7.15 TWD · Dividend yield 4.4% · Net margin 78.9% · Return on equity 15.3% · Return on assets (EBIT) 0.9% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 12% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −11% fair-value upside, at −41%, 6023 screens richer than that median.
Fair Value models
Bear40.58 TWDFair Value 47.00 TWDBull58.93 TWD
Price 79.10 TWD · Downside -40.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (3.14 TWD per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
−6.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.0%
Start year 2020 (pandemic). Over 10 years: +2.7% a year
Revenue growth 10 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.7%
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What shareholders gained per year (last 5 years), in TWD ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in TWD: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+18.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+14.4%
Dividend (yield on the price)4.4%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.33% → −7%
⚠ Revenue per share shrinking 3.2%/yr over ~6Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Price, fair value, quality and upside side by side.
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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
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score37 · Bottom 25%
Fair Value upside−40.6% · Bottom 25%
Profitability
Return on equity (12 months)15.3% · Above median
Return on assets1.4% · Below median
Net margin (12 months)78.9% · Top 25%
Operating margin (12 months)−18.7% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)47.3% · Top 25%
Dividend yield (12 months)4.4% · Above median
Balance sheet
Debt / equity0.08× · Below median
Valuation Multiplesvs Capital Markets median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Yuanta Futures Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/6023
Frequently asked questions
Is Yuanta Futures Co Ltd (6023) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 47.00 TWD versus a price of 79.10 TWD, about 41% lower (overvalued).
What is the fair value of 6023?
Our model-based fair value for Yuanta Futures Co Ltd is 47.00 TWD (as of Nov 5, 2026), built from audited fundamentals. The current price: 79.10 TWD.
What is the quality score of 6023?
Yuanta Futures Co Ltd has a Quality Score of 37/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Yuanta Futures Co Ltd (6023)?
Our model-based price target is the fair value of 47.00 TWD (as of Nov 5, 2026) from 6 valuation models. Cautious scenario 40.58 TWD, optimistic scenario 58.93 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Yuanta Futures Co Ltd stock forecast for 2026?
Our models put fair value at 47.00 TWD, about 41% lower versus a price of 79.10 TWD (overvalued). Cautious scenario 40.58 TWD, optimistic scenario 58.93 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Yuanta Futures Co Ltd (6023)?
Yuanta Futures Co Ltd reported trailing-twelve-month revenue of about 3.7B TWD (latest available figure, as of Nov 5, 2026).
Does Yuanta Futures Co Ltd pay a dividend?
Yuanta Futures Co Ltd currently shows a dividend yield of 4.40% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Yuanta Futures Co Ltd (6023) and when is the ex-dividend date?
Yuanta Futures Co Ltd pays a dividend of 3.48 TWD per share a year, a dividend yield of 4.4%. The last ex-dividend date was Jul 17, 2026. A dividend has been paid every year since at least 2008. The payout ratio is 48.6% of earnings. Our assessment: Low payout. A low payout ratio: the dividend takes at most 60 % of earnings. Whether free cash flow covers it as well, we cannot see for this company.
What is the intrinsic value of Yuanta Futures Co Ltd (6023)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Yuanta Futures Co Ltd it is 47.00 TWD per share (as of Nov 5, 2026), against a price of 79.10 TWD. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Yuanta Futures Co Ltd stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 6023 trades above its calculated fair value: price 79.10 TWD, fair value 47.00 TWD, a gap of about −41% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 6023?
No. The price is what the market pays today (79.10 TWD); the fair value is what the company's own numbers justify (47.00 TWD). For Yuanta Futures Co Ltd the two are 32.10 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Yuanta Futures Co Ltd worth?
The market values Yuanta Futures Co Ltd at about 35.3B TWD (market capitalisation, as of Nov 5, 2026). Per share that is 79.10 TWD; our models calculate a fair value of 47.00 TWD per share.
What do the bullish and bearish scenarios say about 6023?
Our models span a range for Yuanta Futures Co Ltd: cautious scenario 40.58 TWD, base 47.00 TWD, optimistic 58.93 TWD per share (as of Nov 5, 2026, price 79.10 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6023?
Yuanta Futures Co Ltd trades at a price-to-earnings ratio of 11.1 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 47.00 TWD is built from several models across several years. Other multiples: P/B 1.8, P/S 9.6, EV/EBITDA 5.9.
How solid is the balance sheet of Yuanta Futures Co Ltd (6023)?
Balance-sheet figures for Yuanta Futures Co Ltd (as of Nov 5, 2026): return on equity 15.3%, debt of 0.08 per unit of equity. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
How far is 6023 from its 52-week high?
Yuanta Futures Co Ltd trades at 79.10 TWD, about 12% below its 52-week high of 89.84 TWD and 5% above the low of 75.45 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 47.00 TWD is for.
Which stocks are comparable to Yuanta Futures Co Ltd?
From the same area (Financial Services) we also value Morgan Stanley, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Yuanta Futures Co Ltd stock attractive at the current price?
The data as of Nov 5, 2026: price 79.10 TWD, calculated fair value 47.00 TWD (−41%), Quality Score 37/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 6023 calculated?
We run Yuanta Futures Co Ltd through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of 47.00 TWD builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Yuanta Futures Co Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Yuanta Futures Co Ltd (6023)?
The closing price on Nov 6, 2026 was 79.10 TWD. Our model-based fair value is 47.00 TWD, about 41% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Yuanta Futures Co Ltd right now?
The price sits above even our optimistic bull case (58.93 TWD). The favourable scenario is already priced in. Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Yuanta Futures Co Ltd
How large is the market capitalisation of Yuanta Futures Co Ltd (6023)?
The market capitalisation of Yuanta Futures Co Ltd is 35.3B TWD (≈ $1.1B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Yuanta Futures Co Ltd (6023)?
The price-to-sales ratio of Yuanta Futures Co Ltd is 9.60 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Yuanta Futures Co Ltd (6023)?
Earnings per share at Yuanta Futures Co Ltd are 7.15 TWD (price ÷ EPS = P/E 11.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Yuanta Futures Co Ltd (6023)?
The dividend yield of Yuanta Futures Co Ltd is 4.4% (payout 48.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Yuanta Futures Co Ltd (6023)?
The net margin of Yuanta Futures Co Ltd is 78.9% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Yuanta Futures Co Ltd (6023)?
The return on equity (ROE) of Yuanta Futures Co Ltd is 15.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Yuanta Futures Co Ltd (6023)?
On an EBIT basis the return on assets of Yuanta Futures Co Ltd is 0.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Yuanta Futures Co Ltd (6023)?
The operating margin of Yuanta Futures Co Ltd is −18.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Yuanta Futures Co Ltd (6023)?
Revenue at Yuanta Futures Co Ltd is growing +47.3% versus a year earlier (3y avg −1.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Yuanta Futures Co Ltd (6023)?
Earnings per share at Yuanta Futures Co Ltd are growing +23.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Yuanta Futures Co Ltd (6023) generate?
The free cash flow of Yuanta Futures Co Ltd is 589M TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Yuanta Futures Co Ltd (6023) hold?
Yuanta Futures Co Ltd holds more cash than debt, 9.7B TWD net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 5, 2026