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Data-driven stock valuation

President Securities Corp (2855) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of President Securities Corp stock TWD 25.30, price TWD 48.40, that is 47.7% below the price, quality 44 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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Financial Services TW · ISIN TW0002855004

PS President Securities Corp logo Broad data Nov 5, 2026

President Securities Corp

2855 · TW
Very expensive, weak quality

Our calculation puts a fair price 48% below what the stock costs today.

Highly profitable · 62.2% net margin (TTM)
4.4% dividend yield · Low payout
Broad data
Costs just 5 times its yearly profit.
Quality 44/100
Mixed Growth (revenue YoY −28.5 %/yr in TWD)
Mixed vs. peers (8/15)
Wide moat 79/100 · thin data
Fair value 25.30 TWD · Strongly overvalued
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

60.20 TWD 13.89 TWD Fair Value 25.30 TWD Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.

How to read this chart

60‑month range 13.89 TWD – 60.20 TWD · fair‑value band 22.04 TWD – 33.73 TWD · the 48.40 TWD price screens above the 25.30 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

President Securities Corporation, together with its subsidiaries, engages in securities trading and margin lending, securities lending, futures business assistance, proprietary futures trading, issuing warrants, wealth management, and trust businesses.

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It operates through Brokerage Department, Measurement and Trading Department, Proprietary Trading Department, Financial Products Sector, Investment Companies, and Other Operating Departments segments.

The company is involved in accepting orders to buy/sell listed securities and forward to TWSE and TPEx for execution; manage custodial services; securities borrowing and lending, non-restricted purpose loan, and futures introducing broker businesses; and provision of margin financing for securities trading and consignment trading of foreign securities.

It also provides financial products; futures and options markets, and foreign marketable securities trading; underwriting services; quantitative trading; and shareholder services.

In addition, the company engages in trade domestic and foreign corporate and government bonds in the OTC market; offers tendering services of Taiwan government bonds; trade overseas and domestic convertible bonds; provision of repo and reverse-repo transactions, debt capital market services for overseas and domestic issuers, and designed bond exchange-traded notes; trade government and corporate bonds; and interest rate structured products trading, design, and sales.

Further, it provides asset arrangement and finance service planning services, as well as various trading services and products for wealth management, including domestic and overseas funds, foreign bonds, structured products, and bonds with repurchasing agreements; engages in negotiable securities trust lending, employee stock ownership trust, and wealth management businesses; and conducts asset allocation.

President Securities Corporation was incorporated in 1988 and is headquartered in Taipei, Taiwan.

Stock analysis

President Securities Corp (2855) currently trades at 48.40 TWD, while our model-based Fair Value estimate is 25.30 TWD, 48% 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 36.56 TWD per share, and 0 of the 6 models we run sit above the 48.40 TWD price.

Bear case: the Dividend Discount group reads lowest at 14.80 TWD, and 6 of the 6 models stay below the price. Data coverage for this calculation is high.

Scenario range: 22.04 TWD (bear) to 33.73 TWD (bull), the price of 48.40 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 44/100 (below-average quality), in the Financial Services sector.

Mixed Growth: Spin-off in 2021: revenue and profit before it include the divested business. Growth is measured afresh from 2021.

President Securities Corp reported revenue of 11.4B TWD in FY2025 versus 15.6B TWD in FY2021, a compound −7.6%/yr. Reported net income was 4.8B TWD in FY2025, compounding +4.6%/yr from FY2021.

Key figures

Market cap 78.1B TWD (≈ $2.4B) Mid · P/E ratio 5.0 · P/S ratio 3.15 · EPS (TTM) 9.60 TWD · Dividend yield 4.4% · Net margin 62.2% · Return on equity 37.6% · Return on assets (EBIT) 3.2% (5-year average).

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 79 out of 100 (low confidence).

What moves the price

The share trades about 20% below its 52-week high and 103% 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 −48%, 2855 screens richer than that median.

Fair Value models

Bear 22.04 TWD Fair Value 25.30 TWD Bull 33.73 TWD
Price 48.40 TWD · Downside -47.7%
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 (6.40 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.
Best data coverage
Residual Income 22.04 TWD 25.30 TWD 33.73 TWD 76
Gordon GGM 8.28 TWD 15.66 TWD 22.54 TWD 67
DDM Multi-Stage 8.28 TWD 13.93 TWD 16.64 TWD 67
All 6 models by family
Dividend Discount
Gordon GGM 8.28 TWD 15.66 TWD 22.54 TWD 67
DDM Multi-Stage 8.28 TWD 13.93 TWD 16.64 TWD 67
Multiples
P/E Multiple 29.25 TWD 39.00 TWD 48.75 TWD 63
P/B Multiple 25.59 TWD 34.12 TWD 42.65 TWD 55
Asset-Based
NCAV (Graham) 12.19 TWD 16.33 TWD 24.37 TWD 54
Economic Profit
Residual Income 22.04 TWD 25.30 TWD 33.73 TWD 76

Open the full fair value analysis →

Quality Score breakdown

Overall quality 44/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 37
How much profit the company makes from its sales and capital
Quality Growth 36
Are margins and returns getting better?
Cashflow 33
Do the profits arrive as real cash?
Financial strength 6
Debt, balance sheet and risk of trouble
Investment 50
Does it invest with discipline instead of growing at any price?
Low Volatility 54
How calm the share price moves, does not count
Price momentum 74
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 84
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 55/100
Spin-off in 2021: revenue and profit before it include the divested business. Growth is measured afresh from 2021.
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. Basis: EBIT basis. 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.
≈ +19.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.3%
Dividend (yield on the price)4.4%
Per share before 2021divided by the spin-off factor 1.04
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.6.7% vs 18.3%, slowing
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.31% → 45%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Rate on operating basis: 2025 sits 67% above its own trend.

2855 screens overvalued: fair value 48% below the price. Compare with Morgan Stanley →

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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 8/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 44 · Bottom 25%
Fair Value upside −47.7% · Bottom 25%
Profitability
Return on equity (12 months) 37.6% · Top 25%
Return on assets 1.9% · Below median
Net margin (12 months) 62.2% · Top 25%
Operating margin (12 months) 52.4% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) 484.8% · Top 25%
Dividend yield (12 months) 4.4% · Above median
Balance sheet
Debt / equity 0.15× · Above median

Valuation Multiplesvs Capital Markets median · lower = cheaper

P/E (12 months) 5.0× · Cheapest 25%
P/B 1.99× · Pricier than median
P/S (12 months) 3.15× · Cheaper than median
Price / free cash flow (fiscal year) 121.6× · Priciest 25%
EV/EBITDA 11.1× · Pricier than median
PEG 1.08× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 43
FUTURE (revenue growth)100 · sector 68
PAST (return on equity)100 · sector 38
HEALTH (low debt)–
DIVIDEND (yield)87 · sector 47

VALUE 0: the price sits above our fair-value range.

HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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 2855
The Charles Schwab Corporation SCHW $91.49 $117.60 +29% vs 2855
Guotai Haitong Securities Co 601211 ¥16.46 ¥18.02 +9% vs 2855
Nomura Holdings NMR $9.42 $10.17 +8% vs 2855
The Goldman Sachs Group GS $865.82 $766.86 −11% vs 2855
CITIC Securities Company 600030 ¥25.72 ¥20.42 −21% vs 2855
Robinhood Markets, Inc HOOD $80.91 $47.60 −41% vs 2855
Macquarie Group MQG A$248.86 A$123.84 −50% vs 2855
East Money Information Co 300059 ¥18.78 ¥6.72 −64% vs 2855
Interactive Brokers Group IBKR $75.82 $17.48 −77% vs 2855

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President Securities Corp: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "President Securities Corp Fair Value". https://www.fairvalue-calculator.com/stock/2855

Frequently asked questions

Is President Securities Corp (2855) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 25.30 TWD versus a price of 48.40 TWD, about 48% lower (overvalued).
What is the fair value of 2855?
Our model-based fair value for President Securities Corp is 25.30 TWD (as of Nov 5, 2026), built from audited fundamentals. The current price: 48.40 TWD.
What is the quality score of 2855?
President Securities Corp has a Quality Score of 44/100. 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 President Securities Corp (2855)?
Our model-based price target is the fair value of 25.30 TWD (as of Nov 5, 2026) from 6 valuation models. Cautious scenario 22.04 TWD, optimistic scenario 33.73 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the President Securities Corp stock forecast for 2026?
Our models put fair value at 25.30 TWD, about 48% lower versus a price of 48.40 TWD (overvalued). Cautious scenario 22.04 TWD, optimistic scenario 33.73 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of President Securities Corp (2855)?
President Securities Corp reported trailing-twelve-month revenue of about 24.8B TWD (latest available figure, as of Nov 5, 2026).
Does President Securities Corp pay a dividend?
President Securities Corp currently shows a dividend yield of 4.36% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of President Securities Corp (2855) and when is the ex-dividend date?
President Securities Corp pays a dividend of 2.11 TWD per share a year, a dividend yield of 4.4%. The last ex-dividend date was Jun 23, 2026. The payout ratio is 22.0% 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 President Securities Corp (2855)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For President Securities Corp it is 25.30 TWD per share (as of Nov 5, 2026), against a price of 48.40 TWD. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is President Securities Corp stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 2855 trades above its calculated fair value: price 48.40 TWD, fair value 25.30 TWD, a gap of about −48% (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 2855?
No. The price is what the market pays today (48.40 TWD); the fair value is what the company's own numbers justify (25.30 TWD). For President Securities Corp the two are 23.10 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is President Securities Corp worth?
The market values President Securities Corp at about 78.1B TWD (market capitalisation, as of Nov 5, 2026). Per share that is 48.40 TWD; our models calculate a fair value of 25.30 TWD per share.
What do the bullish and bearish scenarios say about 2855?
Our models span a range for President Securities Corp: cautious scenario 22.04 TWD, base 25.30 TWD, optimistic 33.73 TWD per share (as of Nov 5, 2026, price 48.40 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2855?
President Securities Corp trades at a price-to-earnings ratio of 5.0 (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 25.30 TWD is built from several models across several years. Other multiples: PEG 1.1, P/B 2.0, P/S 3.2, EV/EBITDA 11.1.
What is the PEG ratio of 2855?
The PEG ratio of President Securities Corp is 1.08 (P/E divided by earnings growth, as of Nov 5, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of President Securities Corp (2855)?
Balance-sheet figures for President Securities Corp (as of Nov 5, 2026): return on equity 37.6%, debt of 0.15 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is 2855 from its 52-week high?
President Securities Corp trades at 48.40 TWD, about 20% below its 52-week high of 60.20 TWD and 103% above the low of 23.80 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 25.30 TWD is for.
Which stocks are comparable to President Securities Corp?
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 President Securities Corp stock attractive at the current price?
The data as of Nov 5, 2026: price 48.40 TWD, calculated fair value 25.30 TWD (−48%), Quality Score 44/100, 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 2855 calculated?
We run President Securities Corp through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of 25.30 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 13.3% above its aggregate fair value. President Securities Corp 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 President Securities Corp (2855)?
The closing price on Nov 6, 2026 was 48.40 TWD. Our model-based fair value is 25.30 TWD, about 48% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with President Securities Corp right now?
The price sits above even our optimistic bull case (33.73 TWD). The favourable scenario is already priced in. Weak quality (44/100) 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.
Where does the earnings growth of President Securities Corp (2855) come from?
Earnings per share at President Securities Corp grew +15.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +14.1 %, EBIT margin +17.6 %, tax rate +0.2 %, residual (interest, one-offs) −14.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of President Securities Corp

How large is the market capitalisation of President Securities Corp (2855)?
The market capitalisation of President Securities Corp is 78.1B TWD (≈ $2.4B). 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 President Securities Corp (2855)?
The price-to-sales ratio of President Securities Corp is 3.15 (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 President Securities Corp (2855)?
Earnings per share at President Securities Corp are 9.60 TWD (price ÷ EPS = P/E 5.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of President Securities Corp (2855)?
The dividend yield of President Securities Corp is 4.4% (payout 22.0%). 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 President Securities Corp (2855)?
The net margin of President Securities Corp is 62.2% (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 President Securities Corp (2855)?
The return on equity (ROE) of President Securities Corp is 37.6% (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 President Securities Corp (2855)?
On an EBIT basis the return on assets of President Securities Corp is 3.2% (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 President Securities Corp (2855)?
The operating margin of President Securities Corp is 52.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at President Securities Corp (2855)?
Revenue at President Securities Corp is growing +485% versus a year earlier (3y avg +66.2%). 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 President Securities Corp (2855)?
Earnings per share at President Securities Corp are growing +14.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does President Securities Corp (2855) generate?
The free cash flow of President Securities Corp is 642M 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 debt does President Securities Corp (2855) carry?
The net debt of President Securities Corp is 83.0B TWD (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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