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Sincere Security Corp (6721) Fair Value & Analysis

Industrials · TW · Market cap 1.3B TWD

SS Sincere Security Corp 6721 · TWO
Price52.10 TWD
Fair Value88.42 TWD
Upside+69.7%
Quality64/100
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Healthy Growth
Thin margins · 2.9% net margin
Low debt · generates free cash flow
6.31% dividend yield
Ranks above peers (11/14)
Narrow moat 43/100
Evidence: High Range 55.09 TWD – 112.21 TWD Share as image

Fair value as of: Jul 21, 2026

From 26 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from 96.27 TWD to 88.42 TWD (−8.2%) since Jul 12, 2026. Share price −4.6% over the past month.

A solid business, screening 70% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (55.09 TWD). The market is more pessimistic than our downside scenario.
  • Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (55.09 TWD to 112.21 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

59.37 TWD 32.24 TWD Fair Value 88.42 TWD Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

60‑month range 32.24 TWD – 59.37 TWD · fair‑value band 55.09 TWD – 112.21 TWD · the 52.10 TWD price screens below the 88.42 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Sincere Security Corp (6721) currently trades at 52.10 TWD, while our model-based Fair Value estimate is 88.42 TWD, implying the stock looks roughly 69.7% undervalued today. The Quality Score stands at 64/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Sincere Security Corp generated revenue of 3.6B TWD at a net margin of 2.9%. Revenue grew 9.5% year over year. It earns a return on equity of 16.3%. The stock trades on a trailing P/E of 12.7. Fundamentals as of Jul 21, 2026

Our scenario range runs from 55.09 TWD (bear case) to 112.21 TWD (bull case); at 52.10 TWD, the current price sits below 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 17% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -35% fair-value upside, at 70%, 6721 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

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
Growth DCF 40.72 TWD 55.77 TWD 77.20 TWD 80
Residual Income 25.93 TWD 31.43 TWD 57.56 TWD 76
Rev-Margin DCF 52.94 TWD 83.23 TWD 121.93 TWD 74
All 26 models by family
DCF Models
FCF DCF 41.09 TWD 58.12 TWD 83.91 TWD 38
Owner Earnings 61.05 TWD 91.02 TWD 136.40 TWD 31
5Y Revenue Exit 52.94 TWD 84.26 TWD 127.04 TWD 39
5Y EBITDA Exit 58.20 TWD 95.02 TWD 141.27 TWD 41
5Y P/E Exit 62.97 TWD 104.75 TWD 152.56 TWD 38
10Y Revenue Exit 46.57 TWD 73.02 TWD 113.80 TWD 36
10Y EBITDA Exit 51.07 TWD 80.19 TWD 124.60 TWD 37
10Y P/E Exit 53.94 TWD 86.67 TWD 133.15 TWD 35
Earnings-Based
Graham-Dodd 29.07 TWD 131.41 TWD 180.19 TWD 54
Lynch FV 34.32 TWD 49.03 TWD 63.74 TWD 50
PEG = 1.0 34.32 TWD 49.03 TWD 63.74 TWD 46
EPV 47.04 TWD 51.43 TWD 55.10 TWD 59
Dividend Discount
Gordon GGM 21.41 TWD 38.57 TWD 53.10 TWD 70
DDM Multi-Stage 21.41 TWD 35.23 TWD 41.20 TWD 61
Multiples
P/E Multiple 67.33 TWD 89.77 TWD 112.21 TWD 63
P/S Multiple 54.50 TWD 72.67 TWD 90.84 TWD 58
P/B Multiple 54.50 TWD 72.67 TWD 90.84 TWD 55
EV/EBIT 79.83 TWD 101.51 TWD 123.18 TWD 53
EV/EBITDA 73.77 TWD 93.43 TWD 113.08 TWD 54
EV/Revenue 61.22 TWD 81.11 TWD 101.00 TWD 43
Asset-Based
NCAV (Graham) 13.46 TWD 18.04 TWD 26.92 TWD 50
Growth DCF
Growth DCF 40.72 TWD 55.77 TWD 77.20 TWD 80
Rev-Margin DCF 52.94 TWD 83.23 TWD 121.93 TWD 74
Economic Profit
Residual Income 25.93 TWD 31.43 TWD 57.56 TWD 76
ROIC Compounder 50.23 TWD 58.99 TWD 68.98 TWD 72
Growth Earnings
Growth-Adj P/E 55.61 TWD 79.45 TWD 103.28 TWD 68

Widest divergence: DCF Models (84.26 TWD) versus Asset-Based (18.04 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 3.7B TWD
Revenue growth (YoY) +6.4%
Net margin 2.9%
Return on equity 15.9%
Free cash flow 61.4M TWD FY2025
P/E ratio 11.3
More key figures
Operating margin 4.5%
EPS (TTM) 4.65 TWD
Dividend yield 6.3%
EPS growth (YoY) +8.2%

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 64 · Market factors (momentum, volatility) 48

Profitability 53
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 32
Earnings quality: real cash, not paper profit
Fin. Strength 95
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 14
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.

About the company

Sincere Security Corp. Ltd., together with its subsidiaries, engages in the cleaning, security, and mechanical and electrical maintenance services in Taiwan. It offers building management, and fire safety equipment installation and maintenance services, as well as elderly housing, and home services. Sincere Security Corp. Ltd.

Full company description

Sincere Security Corp. Ltd., together with its subsidiaries, engages in the cleaning, security, and mechanical and electrical maintenance services in Taiwan. It offers building management, and fire safety equipment installation and maintenance services, as well as elderly housing, and home services. Sincere Security Corp. Ltd. was founded in 1997 and is based in Zhubei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sincere Security Corp reported revenue of 3.6B TWD in FY2025 versus 2.2B TWD in FY2021, a compound +13.1%/yr. Reported net income was 105M TWD in FY2025, compounding −1.0%/yr from FY2021.

Growth Quality 83/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
3.6B TWD
Latest YoY
+9.2%
Avg. 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.
+11.1%
Revenue +13.1%/yr
FY21 2.2B TWD
FY22 2.6B TWD
FY23 3.0B TWD
FY24 3.3B TWD
FY25 3.6B TWD
Net income −1.0%/yr
FY21 109M TWD
FY22 66.8M TWD
FY23 75.0M TWD
FY24 98.8M TWD
FY25 105M TWD

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Cite: Fair Value Calculator (2026). "Sincere Security Corp Fair Value". https://www.fairvalue-calculator.com/stock/6721

Peer Group

Specialty Business Services · 253 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 64 · Above median
Fair Value upside +70% · Top 25%
Return on equity (TTM) 16% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 3% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth 6% · Above median
Dividend yield (TTM) 6.3% · Top 25%
Debt / equity 0.06× · Lower than median

Valuation Multiples vs Specialty Business Services median · lower = cheaper

P/E (TTM) 11.3× · Cheaper than 75% of peers
P/B 1.95× · Pricier than median
P/S (TTM) 0.35× · Cheaper than 75% of peers
P/FCF 0.7× · Cheaper than median
EV/EBITDA 6.0× · Cheaper than median

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.

VALUE 100 · sector 24
FUTURE 32 · sector 27
PAST 64 · sector 33
HEALTH 97 · sector 92
DIVIDEND 100 · sector 54

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Specialty Business Services stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
Cintas Corporation CTAS $206.25 $95.30 -54%
RELX PLC RELX $33.70 $32.49 -4%
Thomson Reuters Corporation TRI C$133.87 C$70.40 -47%
Copart, Inc CPRT $27.61 $28.59 +4%
Global Payments Inc GPN $80.49 $69.67 -13%
RB Global, Inc RBA C$156.43 C$49.14 -69%
Brambles Limited BXB A$18.79 A$12.28 -35%
UL Solutions Inc ULS $87.76 $33.62 -62%
Wolters Kluwer N.V WKL €62.56 €103.99 +66%
Aramark ARMK $56.74 $13.73 -76%

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Frequently asked questions

Is Sincere Security Corp (6721) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 88.42 TWD versus a price of 52.10 TWD, about +70% (undervalued).
What is the fair value of 6721?
Our model-based fair value for Sincere Security Corp is 88.42 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 52.10 TWD.
What is the quality score of 6721?
Sincere Security Corp has a Quality Score of 64/100. 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 revenue of Sincere Security Corp (6721)?
Sincere Security Corp reported trailing-twelve-month revenue of about 3.6B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 6721?
The net profit margin of Sincere Security Corp is about 2.9%, meaning it keeps roughly 2.9% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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