Reliance Securities Co.,Ltd. (6027) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Reliance Securities Co.,Ltd. stock TWD 11.49, price TWD 12.05, that is 4.6% below the price, quality 62 out of 100. Rating: fairly valued. Calculated from audited financials with 11 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
60‑month range 3.46 TWD – 15.50 TWD · fair‑value band 6.82 TWD – 12.19 TWD · the 12.05 TWD price screens above the 11.49 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 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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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 12.05 TWD, while our model-based Fair Value estimate is 11.49 TWD, so the stock looks roughly fairly valued today (gap 4.9%).
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Valuation
Bull case: the Earnings-Based group reads highest at a median of 40.90 TWD per share, and 7 of the 11 models we run sit above the 12.05 TWD price.
Bear case: the Growth DCF group reads lowest at 2.69 TWD, and 4 of the 11 models stay below the price. Data coverage for this calculation is low.
Scenario range: 6.82 TWD (bear) to 12.19 TWD (bull), the price of 12.05 TWD sits inside 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 62/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
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 2.1B TWD (≈ $63.0M) Micro · P/E ratio 2.9 · P/S ratio 2.04 · EPS (TTM) 4.22 TWD · Net margin 68.1% · Return on equity 23.5% · Return on assets (EBIT) 1.2% (5-year average) · Operating margin 71.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 78 out of 100 (low confidence).
What moves the price
The share trades about 22% below its 52-week high and 61% 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 −5%, 6027 screens cheaper than that median.
Fair Value models
Bear6.82 TWDFair Value 11.49 TWDBull12.19 TWD
Price 12.05 TWD · Downside -4.6%
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 (3.62 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.
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.71/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
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).
+24.7%
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 +22.7% a year for the price.
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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 9/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score62 · Above median
Fair Value upside−4.6% · Below median
Profitability
Return on equity (12 months)23.5% · Top 25%
Return on assets5.0% · Above median
Net margin (12 months)68.1% · Top 25%
Operating margin (12 months)71.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)309.1% · Top 25%
Valuation Multiplesvs Capital Markets median · lower = cheaper
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.
Is Reliance Securities Co.,Ltd. (6027) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 11.49 TWD versus a price of 12.05 TWD, about 5% lower (fairly valued).
What is the fair value of 6027?
Our model-based fair value for Reliance Securities Co.,Ltd. is 11.49 TWD (as of Nov 9, 2026), built from audited fundamentals. The current price: 12.05 TWD.
What is the quality score of 6027?
Reliance Securities Co.,Ltd. has a Quality Score of 62/100. 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 11.49 TWD (as of Nov 9, 2026) from 11 valuation models. Cautious scenario 6.82 TWD, optimistic scenario 12.19 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 11.49 TWD, about 5% lower versus a price of 12.05 TWD (fairly valued). Cautious scenario 6.82 TWD, optimistic scenario 12.19 TWD. The calculation is refreshed regularly with new filings.
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 +24.7 % 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 Nov 9, 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 0.36, 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 +24.7 % per year for five years, then slowing evenly to 2 % by year ten, 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 free-cash-flow growth of +24.7 % per 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 +6.0 % a year. That is the yardstick for the growth priced into Reliance Securities Co.,Ltd. (+24.7 % per 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 1.00 %: 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 11.49 TWD per share (as of Nov 9, 2026), against a price of 12.05 TWD. It is the blended result of 11 valuation models in 6 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Reliance Securities Co.,Ltd. stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 6027 trades above its calculated fair value: price 12.05 TWD, fair value 11.49 TWD, a gap of about −5% (fairly valued). 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 (12.05 TWD); the fair value is what the company's own numbers justify (11.49 TWD). For Reliance Securities Co.,Ltd. the two are 0.5600 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 2.1B TWD (market capitalisation, as of Nov 9, 2026). Per share that is 12.05 TWD; our models calculate a fair value of 11.49 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 6.82 TWD, base 11.49 TWD, optimistic 12.19 TWD per share (as of Nov 9, 2026, price 12.05 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 2.9 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 11.49 TWD is built from several models across several years. Other multiples: P/B 0.8, P/S 2.0, EV/EBITDA 10.2.
How solid is the balance sheet of Reliance Securities Co.,Ltd. (6027)?
Balance-sheet figures for Reliance Securities Co.,Ltd. (as of Nov 9, 2026): return on equity 23.5%. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is 6027 from its 52-week high?
Reliance Securities Co.,Ltd. trades at 12.05 TWD, about 22% below its 52-week high of 15.50 TWD and 61% above the low of 7.47 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 11.49 TWD is for.
Which stocks are comparable to Reliance Securities Co.,Ltd.?
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 Reliance Securities Co.,Ltd. stock attractive at the current price?
The data as of Nov 9, 2026: price 12.05 TWD, calculated fair value 11.49 TWD (−5%), Quality Score 62/100, 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 6 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of 11.49 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. 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 Nov 6, 2026 was 12.05 TWD. Our model-based fair value is 11.49 TWD, about 5% lower (fairly valued). 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 close to our fair value, market and models broadly agree here, little valuation tension. 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 2.1B TWD (≈ $63.0M). 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 2.04 (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 Reliance Securities Co.,Ltd. (6027)?
Earnings per share at Reliance Securities Co.,Ltd. are 4.22 TWD (price ÷ EPS = P/E 2.9). 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 68.1% (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 Reliance Securities Co.,Ltd. (6027)?
The return on equity (ROE) of Reliance Securities Co.,Ltd. is 23.5% (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 71.0% (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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Thin data
Nov 9, 2026