Reliance Securities Co.,Ltd. (6027) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Reliance Securities Co.,Ltd. TWD 12.07, price TWD 14.05, upside -14.1%, quality 57 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 24, 2026.
How to read this chart
60‑month range 3.46 TWD – 14.85 TWD · fair‑value band 7.16 TWD – 12.07 TWD · the 14.05 TWD price screens above the 12.07 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Reliance Securities Co.,Ltd. engages in underwriting and trading of securities in Taiwan. It operates through Brokerage Department, Underwriting Department, Proprietary Trading Department, General Management Department, and Other Department segments.
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Reliance Securities Co.,Ltd. engages in underwriting and trading of securities in Taiwan. It operates through Brokerage Department, Underwriting Department, Proprietary Trading Department, General Management Department, and Other Department segments. The company is involved in securities trading brokerage business; sale of securities; and self-trading business in centralized trading markets or other business premises. It also provides futures trading support, fund distribution, and investment advisory services. The company was founded in 1989 and is headquartered in Taipei, Taiwan. Reliance Securities Co.,Ltd. is a subsidiary of Sheng Yuan Ze Investment Limited Company.
Stock analysis
Reliance Securities Co.,Ltd. (6027) currently trades at 14.05 TWD, while our model-based Fair Value estimate is 12.07 TWD, implying the stock looks roughly 16.4% overvalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of 36.47 TWD per share, and 5 of the 11 models we run sit above the 14.05 TWD price.
Bear case: the Growth DCF group reads lowest at 2.58 TWD, and 6 of the 11 models stay below the price. Evidence for this calculation is low.
Scenario range: 7.16 TWD (bear) to 12.07 TWD (bull), the price of 14.05 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 57/100 (solid quality), in the Financial Services sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Reliance Securities Co.,Ltd. reported revenue of 310M TWD in FY2025 versus 577M TWD in FY2021, a compound −14.4%/yr. Reported net income was 162M TWD in FY2025, compounding −14.7%/yr from FY2021.
Key figures
Market cap 2.2B TWD (≈ $68.7M) · P/E ratio 13.5 · P/S ratio 7.08 · EPS (TTM) 1.04 TWD · Net margin 52.4% · Return on equity 6.4% · Return on assets (EBIT) 1.2% · Operating margin 61.0%.
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 5% below its 52-week high and 91% 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 −14%, 6027 screens cheaper than that median.
Fair Value models
Bear 7.16 TWDFair Value 12.07 TWDBull 12.07 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 (0.7636 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.28/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+28.0%
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.
−2.3%
Start year 2020 (pandemic)
Revenue growth 9 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.
+13.7%
’16
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’19
’20
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’25
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.
−6.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.4%
Dividend (yield on the price)0.0%
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.26% → 6%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+32.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +30.8% a year for the price.
Compare Reliance 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 · 458 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside−14% · Below median
Profitability
Return on equity (TTM)6% · Below median
Return on assets5% · Top 25%
Net margin (TTM)42% · Top 25%
Operating margin (TTM)61% · Top 25%
Growth and dividend
Revenue growth309% · Top 25%
Valuation Multiplesvs Capital Markets median · lower = cheaper
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Is Reliance Securities Co.,Ltd. (6027) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 12.07 TWD versus a price of 14.05 TWD, about −14% upside (overvalued).
What is the fair value of 6027?
Our model-based fair value for Reliance Securities Co.,Ltd. is 12.07 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 14.05 TWD.
What is the quality score of 6027?
Reliance Securities Co.,Ltd. has a Quality Score of 57/100. 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 Reliance Securities Co.,Ltd. (6027)?
Our model-based price target is the fair value of 12.07 TWD (as of Sep 24, 2026) from 11 valuation models. Cautious scenario 7.16 TWD, optimistic scenario 12.07 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Reliance Securities Co.,Ltd. stock forecast for 2026?
Our models put fair value at 12.07 TWD, about −14% upside versus a price of 14.05 TWD (overvalued). Cautious scenario 7.16 TWD, optimistic scenario 12.07 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Reliance Securities Co.,Ltd. (6027)?
Reliance Securities Co.,Ltd. reported trailing-twelve-month revenue of about 385M TWD (latest available figure, as of Sep 24, 2026).
What growth is priced into Reliance Securities Co.,Ltd. (6027)?
For today's price to be fair in a discounted-cash-flow model, Reliance Securities Co.,Ltd. would have to grow free cash flow by +32.9 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -2.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 6027 use?
Our models discount Reliance Securities Co.,Ltd. at 11.8 %: a base by market capitalisation (micro), damped by beta 0.34, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Reliance Securities Co.,Ltd. that is +32.9 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Reliance Securities Co.,Ltd. (6027) delivered so far?
Over the past 5 years revenue at Reliance Securities Co.,Ltd. grew -2.3 % a year. The price currently implies +32.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Reliance Securities Co.,Ltd. (6027) growing?
The median revenue growth in the sector is +10.9 % a year. That is the yardstick for the growth priced into Reliance Securities Co.,Ltd. (+32.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Reliance Securities Co.,Ltd. (6027)?
The free-cash-flow yield on the price is 0.86 %: that much free cash flow Reliance Securities Co.,Ltd. produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Reliance Securities Co.,Ltd. (6027)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Reliance Securities Co.,Ltd. it is 12.07 TWD per share (as of Sep 24, 2026), against a price of 14.05 TWD. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is Reliance Securities Co.,Ltd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 6027 trades above its calculated fair value: price 14.05 TWD, fair value 12.07 TWD, a gap of about −14% (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 6027?
No. The price is what the market pays today (14.05 TWD); the fair value is what the company's own numbers justify (12.07 TWD). For Reliance Securities Co.,Ltd. the two are 1.98 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Reliance Securities Co.,Ltd. worth?
The market values Reliance Securities Co.,Ltd. at about 2.2B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 14.05 TWD; our models calculate a fair value of 12.07 TWD per share.
What do the bullish and bearish scenarios say about 6027?
Our models span a range for Reliance Securities Co.,Ltd.: cautious scenario 7.16 TWD, base 12.07 TWD, optimistic 12.07 TWD per share (as of Sep 24, 2026, price 14.05 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6027?
Reliance Securities Co.,Ltd. trades at a price-to-earnings ratio of 13.5 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 12.07 TWD is built from several models across several years. Other multiples: P/B 0.9, P/S 5.7, EV/EBITDA 19.6.
How solid is the balance sheet of Reliance Securities Co.,Ltd. (6027)?
Balance-sheet figures for Reliance Securities Co.,Ltd. (as of Sep 24, 2026): return on equity 6.4%. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is 6027 from its 52-week high?
Reliance Securities Co.,Ltd. trades at 14.05 TWD, about 5% below its 52-week high of 14.85 TWD and 91% above the low of 7.34 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 12.07 TWD is for.
Which stocks are comparable to Reliance 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 Reliance Securities Co.,Ltd. stock attractive at the current price?
The data as of Sep 24, 2026: price 14.05 TWD, calculated fair value 12.07 TWD (−14%), Quality Score 57/100, from 11 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 6027 calculated?
We run Reliance Securities Co.,Ltd. through 11 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 12.07 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 13.0 % above its aggregate fair value. Reliance 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 Reliance Securities Co.,Ltd. (6027)?
The closing price on Sep 24, 2026 was 14.05 TWD. Our model-based fair value is 12.07 TWD, about −14% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Reliance Securities Co.,Ltd. right now?
The price sits above even our optimistic bull case (12.07 TWD). The favourable scenario is already priced in. Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. 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 Reliance Securities Co.,Ltd.
How large is the market capitalisation of Reliance Securities Co.,Ltd. (6027)?
The market capitalisation of Reliance Securities Co.,Ltd. is 2.2B TWD (≈ $68.7M). 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 Reliance Securities Co.,Ltd. (6027)?
The price-to-sales ratio of Reliance Securities Co.,Ltd. is 7.08 (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 Reliance Securities Co.,Ltd. (6027)?
Earnings per share at Reliance Securities Co.,Ltd. are 1.04 TWD (price ÷ EPS = P/E 13.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Reliance Securities Co.,Ltd. (6027)?
The net margin of Reliance Securities Co.,Ltd. is 52.4% (fiscal year 2025). 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 Reliance Securities Co.,Ltd. (6027)?
The return on equity (ROE) of Reliance Securities Co.,Ltd. is 6.4% (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 Reliance Securities Co.,Ltd. (6027)?
On an EBIT basis the return on assets of Reliance Securities Co.,Ltd. is 1.2% (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 Reliance Securities Co.,Ltd. (6027)?
The operating margin of Reliance Securities Co.,Ltd. is 61.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Reliance Securities Co.,Ltd. (6027)?
Revenue at Reliance Securities Co.,Ltd. is growing +309% versus a year earlier. 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 Reliance Securities Co.,Ltd. (6027)?
Earnings per share at Reliance Securities Co.,Ltd. are growing +18.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Reliance Securities Co.,Ltd. (6027) hold?
Reliance Securities Co.,Ltd. holds more cash than debt, 41.8M TWD net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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