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Taiming Assurance Broker Co Ltd (5878) Fair Value & Analysis

Financial Services · TW · Market cap 968M TWD (≈ $30.6M) · ISIN TW0005878003

What is Taiming Assurance Broker Co Ltd really worth?

TA Taiming Assurance Broker Co Ltd 5878 · TWO
Price38.55 TWD
Fair Value31.59 TWD
Upside−18.1%
Quality72/100

A solid business, but trading 22% above our fair value of 31.59 TWD.

As of Aug 13, 2026, the fair value of Taiming Assurance Broker Co Ltd is 31.59 TWD per share against a price of 38.55 TWD, so the fair value sits 18% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Low debt · generates free cash flow
Ranks above peers (9/14)

Risks

!Weak Growth (revenue 5y −0.7 %/yr)
!Thin margins · 8.3% net margin
!Moderate moat 46/100
!Weak on valuation: 9 out of 100
!Weak on future: 6 out of 100

For context

·6.23% dividend yield
Evidence: High Range 23.69 TWD – 39.48 TWD

Fair value as of: Aug 13, 2026

From 6 valuation models · updated 23 days ago

Fair value updated Aug 13, 2026, revised from 37.23 TWD to 31.59 TWD (−15.1%) since Jul 23, 2026. Share price +1.2% over the past month.

What runs behind every stock

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

What matters now

  • A high-quality business (quality 72/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • 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)

48.70 TWD 35.92 TWD Fair Value 31.59 TWD Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 35.92 TWD – 48.70 TWD · fair‑value band 23.69 TWD – 39.48 TWD · the 38.55 TWD price screens above the 31.59 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Taiming Assurance Broker Co Ltd (5878) currently trades at 38.55 TWD, while our model-based Fair Value estimate is 31.59 TWD, implying the stock looks roughly 22.0% overvalued today. The Quality Score stands at 72/100 (solid quality), in the Financial Services sector. Bull case: the Multiples group reads highest at a median of 29.77 TWD per share, and 0 of the 6 models we run sit above the 38.55 TWD price. Bear case: the Asset-Based group reads lowest at 14.25 TWD, and 6 of the 6 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Taiming Assurance Broker Co Ltd generated revenue of 885M TWD at a net margin of 8.3%. Revenue grew 1.2% year over year. It earns a return on equity of 15.1%. The balance sheet holds a net cash position of 21.7M TWD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 23.69 TWD (bear case) to 39.48 TWD (bull case); at 38.55 TWD, the current price sits within 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 9% below its 52-week high, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −43% fair-value upside, at −18%, 5878 screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 0.3138 TWD per share, which is 1.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Model 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
Highest evidence
Residual Income best evidence 19.39 TWD 22.18 TWD 32.80 TWD 75
Gordon GGM 17.87 TWD 27.89 TWD 37.83 TWD 68
DDM Multi-Stage 17.87 TWD 24.99 TWD 31.82 TWD 67
All 6 models by family
Dividend Discount
Gordon GGM 17.87 TWD 27.89 TWD 37.83 TWD 68
DDM Multi-Stage 17.87 TWD 24.99 TWD 31.82 TWD 67
Multiples
P/E Multiple 27.92 TWD 37.23 TWD 46.53 TWD 63
P/B Multiple 22.33 TWD 29.77 TWD 37.22 TWD 55
Asset-Based
NCAV (Graham) 10.63 TWD 14.25 TWD 21.27 TWD 54
Economic Profit
Residual Income best evidence 19.39 TWD 22.18 TWD 32.80 TWD 75

Widest divergence: Multiples (29.77 TWD) versus Asset-Based (14.25 TWD). Highest evidence: Residual Income (75).

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Key figures & financial health

P/E ratio 13.5
P/S ratio 1.09 P/E × margin
EPS (TTM) 2.86 TWD price ÷ EPS = P/E 13.5
Dividend yield 6.2% payout 83.9%
Net margin 8.1% FY2025
Return on equity 15.1% TTM
More key figures
Profitability
Return on assets (EBIT) 8.7% avg 5y
Operating margin 5.2% TTM
Growth
Revenue (TTM) 885M TWD TTM
Revenue growth (YoY) +1.2% 3y avg +6.1%
EPS growth (YoY) +26.4%
Balance sheet & cash flow
Free cash flow 79.1M TWD FY2025
Net cash 21.7M TWD FY2023

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 72/100

Of which business quality 69 · Market factors (momentum, volatility) 47

Profitability 55
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 58
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 12
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Taiming Assurance Broker Co.,Ltd. engages in the life and property insurance brokerage business in Taiwan. The company offers personal life, injury, health, annuity, group, and investment insurance products. It also provides fire, automobiles, liability, injury, and other property insurance products.

Full company description

Taiming Assurance Broker Co.,Ltd. engages in the life and property insurance brokerage business in Taiwan. The company offers personal life, injury, health, annuity, group, and investment insurance products. It also provides fire, automobiles, liability, injury, and other property insurance products. In addition, the company is involved in the insurance broker's professional liability and guarantee insurance business. Taiming Assurance Broker Co.,Ltd. was incorporated in 2002 and is headquartered in Taipei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Taiming Assurance Broker Co Ltd reported revenue of 883M TWD in FY2025 versus 813M TWD in FY2021, a compound +2.1%/yr. Reported net income was 71.7M TWD in FY2025, compounding −1.0%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
883M TWD
Latest YoY
+4.2%
Avg. revenue growth/yr (3Y) 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.
+6.1%
Avg. revenue growth/yr (5Y) 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.
−0.7%
Avg. revenue growth/yr (10Y) 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.
+3.9%
Value creation/yr (5Y, in TWD) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. 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.
+5.4% · in TWD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−0.8%
Dividend yield6.2%
Operating margin (EBIT) 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.12.0% (2020) → 6.4% (2025) · falling
Worst earnings drop26% (2023) · in TWD
Revenue +2.1%/yr
FY21 813M TWD
FY22 738M TWD
FY23 784M TWD
FY24 847M TWD
FY25 883M TWD
Net income −1.0%/yr
FY21 74.7M TWD
FY22 66.0M TWD
FY23 55.1M TWD
FY24 55.5M TWD
FY25 71.7M TWD

5878 screens 22% overvalued. Compare with Marsh & McLennan Companies, Inc →

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Cite: Fair Value Calculator (2026). "Taiming Assurance Broker Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/5878.TWO

Peer Group

Insurance Brokers · 36 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.

Quality Score 71 · Top 25%
Fair Value upside −18% · Above median
Return on equity (TTM) 15% · Above median
Return on assets 5% · Below median
Net margin (TTM) 8% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth 1% · Bottom 25%
Dividend yield (TTM) 6.2% · Above median
Debt / equity 0.06× · Lower than median

Valuation Multiples vs Insurance Brokers median · lower = cheaper

P/E (TTM) 13.5× · Cheaper than median
P/B 1.82× · Cheaper than median
P/S (TTM) 1.09× · Cheaper than median
P/FCF 0.4× · Cheaper than 75% of peers
EV/EBITDA 15.0× · Pricier than median

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE9 · sector 0
FUTURE6 · sector 66
PAST60 · sector 60
HEALTH97 · sector 88
DIVIDEND100 · sector 80

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 Insurance Brokers stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Marsh & McLennan Companies, Inc MRSH $193.40 $112.25 −42%
Aon plc AON $352.36 $224.91 −36%
Arthur J. Gallagher & Co AJG $267.56 $75.58 −72%
Willis Towers Watson Public Limited WTW $350.75 $220.92 −37%
Brown & Brown, Inc BRO $71.42 $40.43 −43%
Erie Indemnity Company ERIE $260.40 $113.32 −56%
PB Fintech Limited POLICYBZR ₹1,791 ₹205.02 −89%
Neptune Insurance Holdings NP $32.70 $3.52 −89%
Steadfast Group SDF A$5.27 A$3.92 −26%
CorVel Corporation CRVL $69.74 $39.55 −43%

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Frequently asked questions

Is Taiming Assurance Broker Co Ltd (5878) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 31.59 TWD versus a price of 38.55 TWD, about −18% upside (overvalued).
What is the fair value of 5878?
Our model-based fair value for Taiming Assurance Broker Co Ltd is 31.59 TWD (as of Aug 13, 2026), built from audited fundamentals. The current price: 38.55 TWD.
What is the quality score of 5878?
Taiming Assurance Broker Co Ltd has a Quality Score of 72/100. 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 Taiming Assurance Broker Co Ltd (5878)?
Our model-based price target is the fair value of 31.59 TWD (as of Aug 13, 2026) from 6 valuation models. Cautious scenario 23.69 TWD, optimistic scenario 39.48 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Taiming Assurance Broker Co Ltd stock forecast for 2026?
Our models put fair value at 31.59 TWD, about −18% upside versus a price of 38.55 TWD (overvalued). Cautious scenario 23.69 TWD, optimistic scenario 39.48 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Taiming Assurance Broker Co Ltd (5878)?
Taiming Assurance Broker Co Ltd reported trailing-twelve-month revenue of about 885M TWD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 5878?
The net profit margin of Taiming Assurance Broker Co Ltd is about 8.3%, meaning it keeps roughly 8.3% of revenue as net income. Based on the latest reported figures.
Does Taiming Assurance Broker Co Ltd pay a dividend?
Taiming Assurance Broker Co Ltd currently shows a dividend yield of about 6.23% relative to its recent price (as of Aug 13, 2026).
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