President Securities Corporation (2855) Fair Value & Analysis

Financial Services · TW · Market cap 70.7B TWD

Below-average quality, and screening another 23% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (42.95 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.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range 13.89 TWD – 59.10 TWD · fair‑value band 25.77 TWD – 42.95 TWD · the 44.50 TWD price screens above the 34.36 TWD fair value. Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

President Securities Corporation (2855) currently trades at 44.50 TWD, while our model-based Fair Value estimate is 34.36 TWD, implying the stock looks roughly 22.8% overvalued today. The Quality Score stands at 44/100 (below-average quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, President Securities Corporation generated revenue of 15.7B TWD at a net margin of 45.6%. Revenue grew 269.5% year over year. It earns a return on equity of 18.6%. Net debt stands at 83.0B TWD. Fundamentals as of Jul 18, 2026

Our scenario range runs from 25.77 TWD (bear case) to 42.95 TWD (bull case); at 44.50 TWD, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 26% below its 52-week high and 141% 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 -23%, 2855 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Multiples (20.86 TWD) versus Asset-Based (16.44 TWD). Highest evidence: P/B Multiple (55).

Key figures & financial health

Quality Score breakdown

About the company

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.

Full company description

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. 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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

President Securities Corporation 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.

2855 screens 23% overvalued. Compare with Huatai Securities Co →

Peer Group

Capital Markets · 425 stocks

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.

Valuation Multiples vs Capital Markets median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

Values & ESG

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.