Concord International Securities Co Ltd (5864) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Concord International Securities Co Ltd TWD 13.75, price TWD 37.10, upside -62.9%, quality 38 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range 6.16 TWD – 47.71 TWD · fair‑value band 10.31 TWD – 17.18 TWD · the 37.10 TWD price screens above the 13.75 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Concord International Securities Co., Ltd provides brokerage, underwriting, stock agency, and consulting services in Taiwan.
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Concord International Securities Co., Ltd provides brokerage, underwriting, stock agency, and consulting services in Taiwan. The company offers brokerage services, including business of buying and selling securities on behalf of clients in centralized or over-the-counter markets, customer acquisition and business development, credit investigation and control of customer credit, compilation and provision of securities information, agency services for centralized custody and allocation of client securities, self-operated credit transaction business, guidance for client operations, loan and lending business, liquidation and settlement of stocks and bonds, ancillary services for futures traders, agency for buying and selling, handling other matters related to brokerage business. It is also involved in the accepting futures trading and options trading brokerage business of futures products and options products; trade various securities and financial derivatives in centralized markets, over-the-counter markets, futures markets, and other markets; assisting and guiding enterprises in applying for public offerings and offerings of various securities, or assisting with securities issuance, emerging market listings, and OTC listing services, assisting in fundraising for securities issuance, assisting in evaluation of cash capital increases for listed enterprises and related underwriting business, providing consulting services in capital planning, finance and business management, and other matters related to securities underwriting business, bond business; subcontracting business; and lending business. In addition, it offers loan funds. Concord International Securities Co., Ltd was founded in 1989 and is headquartered in Tainan City, Taiwan.
Stock analysis
Concord International Securities Co Ltd (5864) currently trades at 37.10 TWD, while our model-based Fair Value estimate is 13.75 TWD, implying the stock looks roughly 169.8% overvalued today.
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Valuation
How firm this estimate is: it rests on 16 models at a data quality of 95/100, which puts the evidence level at high.
Scenario range: 10.31 TWD (bear) to 17.18 TWD (bull), the price of 37.10 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 38/100 (below-average quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Concord International Securities Co Ltd reported revenue of 570M TWD in FY2025 versus 678M TWD in FY2021, a compound −4.2%/yr. Reported net income was 1.2B TWD in FY2025, compounding +13.4%/yr from FY2021.
Key figures
Market cap 16.9B TWD (≈ $529M) · P/E ratio 16.1 · P/S ratio 32.9 · EPS (TTM) 2.30 TWD · Dividend yield 1.2% · Net margin 90.9% · Return on equity 38.8% · Return on assets (EBIT) 4.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 22% below its 52-week high and 197% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −20% fair-value upside, at −63%, 5864 screens richer than that median.
Fair Value models
Bear 10.31 TWDFair Value 13.75 TWDBull 17.18 TWD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (1.35 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.Evidence ⓘEvidence = 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.44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−20.6%
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.
+1.0%
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.
+6.2%
Start year 2020 (pandemic). Over 10 years: +8.2% a year
Revenue growth 16 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.
+2.8%
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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.
+9.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.7%
Dividend (yield on the price)1.2%
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.9% vs 20%, 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.44% → 51%
Compare Concord International Securities Co Ltd with another stock
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 · 463 stocks
Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score37 · Bottom 25%
Fair Value upside−63% · Bottom 25%
Profitability
Return on equity (TTM)39% · Top 25%
Return on assets28% · Top 25%
Net margin (TTM)91% · Top 25%
Operating margin (TTM)94% · Top 25%
Growth and dividend
Revenue growth614% · Top 25%
Dividend yield (TTM)1.2% · Below median
Valuation Multiplesvs Capital Markets median · lower = cheaper
P/E (TTM)16.1× · Pricier than median
P/B2.07× · Pricier than median
P/S (TTM)4.79× · Pricier than median
EV/EBITDA63.4× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 32
FUTURE (revenue growth)100· sector 91
PAST (return on equity)100· sector 30
HEALTH (low debt)0· sector 95
DIVIDEND (yield)24· sector 41
VALUE 0: the price sits above our fair-value range.
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). "Concord International Securities Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/5864
Frequently asked questions
Is Concord International Securities Co Ltd (5864) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 13.75 TWD versus a price of 37.10 TWD, about −63% upside (overvalued).
What is the fair value of 5864?
Our model-based fair value for Concord International Securities Co Ltd is 13.75 TWD (as of Sep 23, 2026), built from audited fundamentals. The current price: 37.10 TWD.
What is the quality score of 5864?
Concord International Securities Co Ltd has a Quality Score of 38/100. 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 Concord International Securities Co Ltd (5864)?
Our model-based price target is the fair value of 13.75 TWD (as of Sep 23, 2026) from 2 valuation models. Cautious scenario 10.31 TWD, optimistic scenario 17.18 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Concord International Securities Co Ltd stock forecast for 2026?
Our models put fair value at 13.75 TWD, about −63% upside versus a price of 37.10 TWD (overvalued). Cautious scenario 10.31 TWD, optimistic scenario 17.18 TWD. The calculation is refreshed regularly with new filings.
Does Concord International Securities Co Ltd pay a dividend?
Concord International Securities Co Ltd currently shows a dividend yield of about 1.22% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Concord International Securities Co Ltd (5864)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Concord International Securities Co Ltd it is 13.75 TWD per share (as of Sep 23, 2026), against a price of 37.10 TWD. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Concord International Securities Co Ltd stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 5864 trades above its calculated fair value: price 37.10 TWD, fair value 13.75 TWD, a gap of about −63% (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 5864?
No. The price is what the market pays today (37.10 TWD); the fair value is what the company's own numbers justify (13.75 TWD). For Concord International Securities Co Ltd the two are 23.35 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Concord International Securities Co Ltd worth?
The market values Concord International Securities Co Ltd at about 16.9B TWD (market capitalisation, as of Sep 23, 2026). Per share that is 37.10 TWD; our models calculate a fair value of 13.75 TWD per share.
What do the bullish and bearish scenarios say about 5864?
Our models span a range for Concord International Securities Co Ltd: cautious scenario 10.31 TWD, base 13.75 TWD, optimistic 17.18 TWD per share (as of Sep 23, 2026, price 37.10 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5864?
Concord International Securities Co Ltd trades at a price-to-earnings ratio of 16.1 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 13.75 TWD is built from several models across several years. Other multiples: P/B 2.1, P/S 4.8, EV/EBITDA 63.4.
How solid is the balance sheet of Concord International Securities Co Ltd (5864)?
Balance-sheet figures for Concord International Securities Co Ltd (as of Sep 23, 2026): return on equity 38.8%. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is 5864 from its 52-week high?
Concord International Securities Co Ltd trades at 37.10 TWD, about 22% below its 52-week high of 47.71 TWD and 197% above the low of 12.51 TWD (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 13.75 TWD is for.
Which stocks are comparable to Concord International Securities Co Ltd?
From the same area (Financial Services) we also value Morgan Stanley, a financial holding company,, 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 Concord International Securities Co Ltd stock attractive at the current price?
The data as of Sep 23, 2026: price 37.10 TWD, calculated fair value 13.75 TWD (−63%), Quality Score 38/100, from 2 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 5864 calculated?
We run Concord International Securities Co Ltd through 2 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 13.75 TWD, 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 14.1 % above its aggregate fair value. Concord International Securities 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 Concord International Securities Co Ltd (5864)?
The closing price on Sep 23, 2026 was 37.10 TWD. Our model-based fair value is 13.75 TWD, about −63% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Concord International Securities Co Ltd right now?
The price sits above even our optimistic bull case (17.18 TWD). The favourable scenario is already priced in. Weak quality (38/100) 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 Concord International Securities Co Ltd
How large is the market capitalisation of Concord International Securities Co Ltd (5864)?
The market capitalisation of Concord International Securities Co Ltd is 16.9B TWD (≈ $529M). 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 Concord International Securities Co Ltd (5864)?
The price-to-sales ratio of Concord International Securities Co Ltd is 32.9 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Concord International Securities Co Ltd (5864)?
Earnings per share at Concord International Securities Co Ltd are 2.30 TWD (price ÷ EPS = P/E 16.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Concord International Securities Co Ltd (5864)?
The dividend yield of Concord International Securities Co Ltd is 1.2% (payout 19.6%). 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 Concord International Securities Co Ltd (5864)?
The net margin of Concord International Securities Co Ltd is 90.9% (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 Concord International Securities Co Ltd (5864)?
The return on equity (ROE) of Concord International Securities Co Ltd is 38.8% (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 Concord International Securities Co Ltd (5864)?
On an EBIT basis the return on assets of Concord International Securities Co Ltd is 4.1% (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 Concord International Securities Co Ltd (5864)?
The operating margin of Concord International Securities Co Ltd is 93.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Concord International Securities Co Ltd (5864)?
Revenue at Concord International Securities Co Ltd is growing +614% versus a year earlier (3y avg +1.0%). 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 Concord International Securities Co Ltd (5864)?
Earnings per share at Concord International Securities Co Ltd are growing +39.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Concord International Securities Co Ltd (5864) generate?
The free cash flow of Concord International Securities Co Ltd is −1.9B 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 Concord International Securities Co Ltd (5864) carry?
The net debt of Concord International Securities Co Ltd is 2.4B 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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