Golden Insurance Brokers Co.,Ltd. (6028) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Golden Insurance Brokers Co.,Ltd. TWD 62.58, price TWD 99.20, upside -36.9%, quality 56 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Golden Insurance Brokers Co.,Ltd. provides life and property insurance brokerage services primarily in Taiwan. The company offers investment consulting, management consulting, and intermediary services. It also provides online insurance; insurance planning platform; and accident insurance recommendation platform solutions.
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Golden Insurance Brokers Co.,Ltd. provides life and property insurance brokerage services primarily in Taiwan. The company offers investment consulting, management consulting, and intermediary services. It also provides online insurance; insurance planning platform; and accident insurance recommendation platform solutions. The company was founded in 1982 and is based in Kaohsiung, Taiwan.
Stock analysis
Golden Insurance Brokers Co.,Ltd. (6028) currently trades at 99.20 TWD, while our model-based Fair Value estimate is 62.58 TWD, implying the stock looks roughly 58.5% overvalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of 70.82 TWD per share, and 0 of the 6 models we run sit above the 99.20 TWD price.
Bear case: the Asset-Based group reads lowest at 17.37 TWD, and 6 of the 6 models stay below the price. Evidence for this calculation is high.
Scenario range: 46.91 TWD (bear) to 78.22 TWD (bull), the price of 99.20 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 56/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Golden Insurance Brokers Co.,Ltd. reported revenue of 4.7B TWD in FY2025 versus 2.3B TWD in FY2021, a compound +20.3%/yr. Reported net income was 173M TWD in FY2025, compounding +20.8%/yr from FY2021.
Key figures
Market cap 2.2B TWD (≈ $68.7M) · P/E ratio 12.6 · P/S ratio 0.46 · EPS (TTM) 7.85 TWD · Dividend yield 6.9% · Net margin 3.7% · Return on equity 22.3% · Return on assets (EBIT) 13.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (medium confidence).
What moves the price
The share trades about 22% below its 52-week high and 27% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −46% fair-value upside, at −37%, 6028 screens cheaper than that median.
Fair Value models
Bear 46.91 TWDFair Value 62.58 TWDBull 78.22 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 (0.7357 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.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+5.3%
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.
+29.1%
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.
+14.8%
Start year 2020 (pandemic)
Revenue growth 6 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.
+12.4%
’19
’20
’21
’22
’23
’24
’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.
+18.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.3%
Dividend (yield on the price)6.9%
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.5% → 5%
Growth Forecast
Little optimism in the price
The price assumes less 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).
−0.8%
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 −2.3% a year for the price.
Compare Golden Insurance Brokers 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.Insurance Brokers · 36 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score56 · Below median
Fair Value upside−37% · Above median
Profitability
Return on equity (TTM)22% · Above median
Return on assets8% · Top 25%
Net margin (TTM)3% · Below median
Operating margin (TTM)5% · Below median
Growth and dividend
Revenue growth12% · Below median
Dividend yield (TTM)6.9% · Top 25%
Valuation Multiplesvs Insurance Brokers median · lower = cheaper
P/E (TTM)12.6× · Cheaper than median
P/B3.37× · Pricier than median
P/S (TTM)0.45× · Cheapest 25%
P/FCF0.4× · Cheapest 25%
EV/EBITDA6.5× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)59· sector 66
PAST (return on equity)89· sector 60
HEALTH (low debt)0· sector 84
DIVIDEND (yield)100· sector 92
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.
Is Golden Insurance Brokers Co.,Ltd. (6028) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 62.58 TWD versus a price of 99.20 TWD, about −37% upside (overvalued).
What is the fair value of 6028?
Our model-based fair value for Golden Insurance Brokers Co.,Ltd. is 62.58 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 99.20 TWD.
What is the quality score of 6028?
Golden Insurance Brokers Co.,Ltd. has a Quality Score of 56/100. 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 Golden Insurance Brokers Co.,Ltd. (6028)?
Our model-based price target is the fair value of 62.58 TWD (as of Sep 24, 2026) from 6 valuation models. Cautious scenario 46.91 TWD, optimistic scenario 78.22 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Golden Insurance Brokers Co.,Ltd. stock forecast for 2026?
Our models put fair value at 62.58 TWD, about −37% upside versus a price of 99.20 TWD (overvalued). Cautious scenario 46.91 TWD, optimistic scenario 78.22 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Golden Insurance Brokers Co.,Ltd. (6028)?
Golden Insurance Brokers Co.,Ltd. reported trailing-twelve-month revenue of about 4.9B TWD (latest available figure, as of Sep 24, 2026).
Does Golden Insurance Brokers Co.,Ltd. pay a dividend?
Golden Insurance Brokers Co.,Ltd. currently shows a dividend yield of about 6.87% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Golden Insurance Brokers Co.,Ltd. (6028)?
For today's price to be fair in a discounted-cash-flow model, Golden Insurance Brokers Co.,Ltd. would have to grow free cash flow by -0.8 % 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 +14.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 6028 use?
Our models discount Golden Insurance Brokers Co.,Ltd. at 11.8 %: a base by market capitalisation (micro), damped by beta 0.18, 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 Golden Insurance Brokers Co.,Ltd. that is -0.8 % 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 Golden Insurance Brokers Co.,Ltd. (6028) delivered so far?
Over the past 5 years revenue at Golden Insurance Brokers Co.,Ltd. grew +14.8 % a year. The price currently implies -0.8 % 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 Golden Insurance Brokers Co.,Ltd. (6028) growing?
The median revenue growth in the sector is +8.5 % a year. That is the yardstick for the growth priced into Golden Insurance Brokers Co.,Ltd. (-0.8 % 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 Golden Insurance Brokers Co.,Ltd. (6028)?
The free-cash-flow yield on the price is 8.19 %: that much free cash flow Golden Insurance Brokers 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 Golden Insurance Brokers Co.,Ltd. (6028)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Golden Insurance Brokers Co.,Ltd. it is 62.58 TWD per share (as of Sep 24, 2026), against a price of 99.20 TWD. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Golden Insurance Brokers Co.,Ltd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 6028 trades above its calculated fair value: price 99.20 TWD, fair value 62.58 TWD, a gap of about −37% (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 6028?
No. The price is what the market pays today (99.20 TWD); the fair value is what the company's own numbers justify (62.58 TWD). For Golden Insurance Brokers Co.,Ltd. the two are 36.62 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Golden Insurance Brokers Co.,Ltd. worth?
The market values Golden Insurance Brokers Co.,Ltd. at about 2.2B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 99.20 TWD; our models calculate a fair value of 62.58 TWD per share.
What do the bullish and bearish scenarios say about 6028?
Our models span a range for Golden Insurance Brokers Co.,Ltd.: cautious scenario 46.91 TWD, base 62.58 TWD, optimistic 78.22 TWD per share (as of Sep 24, 2026, price 99.20 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6028?
Golden Insurance Brokers Co.,Ltd. trades at a price-to-earnings ratio of 12.6 (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 62.58 TWD is built from several models across several years. Other multiples: P/B 3.4, P/S 0.4, EV/EBITDA 6.5.
How solid is the balance sheet of Golden Insurance Brokers Co.,Ltd. (6028)?
Balance-sheet figures for Golden Insurance Brokers Co.,Ltd. (as of Sep 24, 2026): return on equity 22.3%. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is 6028 from its 52-week high?
Golden Insurance Brokers Co.,Ltd. trades at 99.20 TWD, about 22% below its 52-week high of 127.89 TWD and 27% above the low of 78.40 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 62.58 TWD is for.
Which stocks are comparable to Golden Insurance Brokers Co.,Ltd.?
From the same area (Financial Services) we also value Marsh & McLennan Companies, Inc, Aon plc, Arthur J. Gallagher & Co, Willis Towers Watson Public Limited, 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 Golden Insurance Brokers Co.,Ltd. stock attractive at the current price?
The data as of Sep 24, 2026: price 99.20 TWD, calculated fair value 62.58 TWD (−37%), Quality Score 56/100, from 6 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 6028 calculated?
We run Golden Insurance Brokers Co.,Ltd. through 6 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 62.58 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 14.0 % above its aggregate fair value. Golden Insurance Brokers 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 Golden Insurance Brokers Co.,Ltd. (6028)?
The closing price on Sep 24, 2026 was 99.20 TWD. Our model-based fair value is 62.58 TWD, about −37% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Golden Insurance Brokers Co.,Ltd. right now?
The price sits above even our optimistic bull case (78.22 TWD). The favourable scenario is already priced in. Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder. 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 Golden Insurance Brokers Co.,Ltd.
How large is the market capitalisation of Golden Insurance Brokers Co.,Ltd. (6028)?
The market capitalisation of Golden Insurance Brokers 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 Golden Insurance Brokers Co.,Ltd. (6028)?
The price-to-sales ratio of Golden Insurance Brokers Co.,Ltd. is 0.46 (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 Golden Insurance Brokers Co.,Ltd. (6028)?
Earnings per share at Golden Insurance Brokers Co.,Ltd. are 7.85 TWD (price ÷ EPS = P/E 12.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Golden Insurance Brokers Co.,Ltd. (6028)?
The dividend yield of Golden Insurance Brokers Co.,Ltd. is 6.9% (payout 86.8%). 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 Golden Insurance Brokers Co.,Ltd. (6028)?
The net margin of Golden Insurance Brokers Co.,Ltd. is 3.7% (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 Golden Insurance Brokers Co.,Ltd. (6028)?
The return on equity (ROE) of Golden Insurance Brokers Co.,Ltd. is 22.3% (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 Golden Insurance Brokers Co.,Ltd. (6028)?
On an EBIT basis the return on assets of Golden Insurance Brokers Co.,Ltd. is 13.0% (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 Golden Insurance Brokers Co.,Ltd. (6028)?
The operating margin of Golden Insurance Brokers Co.,Ltd. is 4.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Golden Insurance Brokers Co.,Ltd. (6028)?
Revenue at Golden Insurance Brokers Co.,Ltd. is growing +11.7% versus a year earlier (3y avg +29.1%). 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 Golden Insurance Brokers Co.,Ltd. (6028)?
Earnings per share at Golden Insurance Brokers Co.,Ltd. are growing −19.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Golden Insurance Brokers Co.,Ltd. (6028) hold?
Golden Insurance Brokers Co.,Ltd. holds more cash than debt, 393M TWD net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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