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CHT Security Co (7765) Fair Value & Analysis

Technology · TW · Market cap 9.2B TWD

CS CHT Security Co 7765 · TW
Price225.50 TWD
Fair Value250.16 TWD
Upside+10.9%
Quality58/100
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Healthy Growth
Highly profitable · 21.2% net margin
generates free cash flow
4.26% dividend yield
Ranks above peers (9/13)
Wide moat 86/100
Evidence: High Range 153.53 TWD – 306.43 TWD Share as image

Fair value as of: Jul 23, 2026

From 26 valuation models · updated 18 days ago

Share price +1.8% over the past month.

A solid business, screening 11% undervalued on our models.

What matters now

  • A fairly wide model range (153.53 TWD to 306.43 TWD) leaves room in how you read the outcome.
  • Our model range runs from 153.53 TWD (bear) to 306.43 TWD (bull), base 250.16 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 58/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (2 years)

353.55 TWD 210.53 TWD Fair Value 250.16 TWD Aug 2024 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

24‑month range 210.53 TWD – 353.55 TWD · fair‑value band 153.53 TWD – 306.43 TWD · the 225.50 TWD price screens below the 250.16 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

CHT Security Co (7765) currently trades at 225.50 TWD, while our model-based Fair Value estimate is 250.16 TWD, implying the stock looks roughly 10.9% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Technology 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, CHT Security Co generated revenue of 2.1B TWD at a net margin of 21.2%. Revenue grew 15.8% year over year. It earns a return on equity of 27.8%. The stock trades on a trailing P/E of 21.4. Fundamentals as of Jul 23, 2026

Our scenario range runs from 153.53 TWD (bear case) to 306.43 TWD (bull case); at 225.50 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 40% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -25% fair-value upside, at 11%, 7765 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
Residual Income 64.08 TWD 77.53 TWD 184.65 TWD 76
Growth DCF 153.04 TWD 249.08 TWD 409.14 TWD 72
Gordon GGM 73.68 TWD 146.81 TWD 222.31 TWD 70
All 26 models by family
DCF Models
FCF DCF 155.45 TWD 265.00 TWD 457.33 TWD 38
Owner Earnings 183.46 TWD 317.35 TWD 552.43 TWD 31
5Y Revenue Exit 129.67 TWD 205.82 TWD 310.55 TWD 39
5Y EBITDA Exit 160.69 TWD 272.03 TWD 415.29 TWD 41
5Y P/E Exit 171.82 TWD 295.80 TWD 442.08 TWD 38
10Y Revenue Exit 134.31 TWD 209.97 TWD 329.37 TWD 36
10Y EBITDA Exit 157.73 TWD 258.37 TWD 418.06 TWD 37
10Y P/E Exit 165.05 TWD 275.74 TWD 440.74 TWD 35
Earnings-Based
Graham-Dodd 73.03 TWD 380.79 TWD 526.78 TWD 54
Lynch FV 104.35 TWD 149.08 TWD 193.80 TWD 50
PEG = 1.0 104.35 TWD 149.08 TWD 193.80 TWD 46
EPV 123.02 TWD 137.79 TWD 150.54 TWD 59
Dividend Discount
Gordon GGM 73.68 TWD 146.81 TWD 222.31 TWD 70
DDM Multi-Stage 73.68 TWD 126.87 TWD 154.96 TWD 61
Multiples
P/E Multiple 161.10 TWD 214.81 TWD 268.51 TWD 63
P/S Multiple 94.28 TWD 125.71 TWD 157.13 TWD 58
P/B Multiple 113.48 TWD 151.31 TWD 189.14 TWD 55
EV/EBIT 205.33 TWD 263.95 TWD 322.58 TWD 53
EV/EBITDA 172.92 TWD 220.73 TWD 268.55 TWD 54
EV/Revenue 117.46 TWD 155.17 TWD 192.88 TWD 43
Asset-Based
NCAV (Graham) 25.22 TWD 33.79 TWD 50.44 TWD 50
Growth DCF
Growth DCF 153.04 TWD 249.08 TWD 409.14 TWD 72
Rev-Margin DCF 129.67 TWD 203.82 TWD 303.35 TWD 67
Economic Profit
Residual Income 64.08 TWD 77.53 TWD 184.65 TWD 76
ROIC Compounder 132.90 TWD 161.27 TWD 194.31 TWD 67
Growth Earnings
Growth-Adj P/E 151.98 TWD 217.11 TWD 282.24 TWD 68

Widest divergence: DCF Models (265.00 TWD) versus Asset-Based (33.79 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 2.1B TWD
Revenue growth (YoY) +15.8%
Net margin 21.2%
Return on equity 27.8%
Free cash flow 400M TWD FY2025
P/E ratio 21.4
More key figures
Operating margin 27.5%
EPS (TTM) 11.45 TWD

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 60 · Market factors (momentum, volatility) 34

Profitability 73
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 71
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 6
Distance to the 52-week high (market factor)
Net Issuance 22
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

CHT Security Co., Ltd. provides telco-centric network security and cyber security services in Taiwan. The company offers security assessment services comprising source code security analysis, vulnerability assessment, web personal data scanning, penetration testing, cyber security evaluation, social engineering assessment, mobile app security assessment, …

Full company description

CHT Security Co., Ltd. provides telco-centric network security and cyber security services in Taiwan. The company offers security assessment services comprising source code security analysis, vulnerability assessment, web personal data scanning, penetration testing, cyber security evaluation, social engineering assessment, mobile app security assessment, red teaming, financial security assessment, IoT testing, DDoS simulation, and OT security; and managed security and consulting services consisting of security operation center, CERT and digital forensics, managed detection and response, website defacement monitoring, public key infrastructure, and ISMS and PIMS, as well as cloud security services, including cloud SOC, cloud cyber security evaluation, vulnerability analysis and notice system, and phishing test services. It also provides network security products comprising cyber threat and porn gatekeeper, parental control, HiNet anti-virus, and scam-fighter for consumers and households; and HiNet intrusion prevention systems, HiNet DDoS protection, HiNet ANDs, HiNet cyber threat gatekeeper, and HiNet WAF for enterprises. In addition, the company offers network and endpoint security solutions comprising SecuTex, SecuTEx ED, hardware security module, fortinet fortigate, palo alto network NGFW, CrowdStrike endpoint protection, and Sophos NGFW; vulnerability assessment solutions consisting of HorusEyes, Opentext Fortify WebInspect, and vulnerability management PRO; access control solutions, including e-SOFT security intelligence portal; and security management solutions, such as CypherCom, secure element, phishing simulation platform, and work from home solution. It serves the critical infrastructure, finance, manufacturing, healthcare, enterprise, and consumer industries, as well as the government. The company was incorporated in 2017 and is based in Taipei, Taiwan. CHT Security Co., Ltd. is a subsidiary of Chunghwa Telecom Co., Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CHT Security Co reported revenue of 2.0B TWD in FY2025 versus 1.1B TWD in FY2021, a compound +15.8%/yr. Reported net income was 437M TWD in FY2025, compounding +27.1%/yr from FY2021.

Growth Quality 98/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
2.0B TWD
Latest YoY
+3.6%
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.
+13.1%
Revenue +15.8%/yr
FY21 1.1B TWD
FY22 1.4B TWD
FY23 1.7B TWD
FY24 2.0B TWD
FY25 2.0B TWD
Net income +27.1%/yr
FY21 167M TWD
FY22 201M TWD
FY23 270M TWD
FY24 379M TWD
FY25 437M TWD

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Cite: Fair Value Calculator (2026). "CHT Security Co Fair Value". https://www.fairvalue-calculator.com/stock/7765

Peer Group

Information Technology Services · 475 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 58 · Above median
Fair Value upside +11% · Above median
Return on equity (TTM) 28% · Top 25%
Return on assets 15% · Top 25%
Net margin (TTM) 21% · Top 25%
Operating margin (TTM) 28% · Top 25%
Revenue growth 16% · Above median
Dividend yield (TTM) 4.3% · Top 25%

Valuation Multiples vs Information Technology Services median · lower = cheaper

P/E (TTM) 19.8× · Pricier than median
P/B 4.48× · Pricier than 75% of peers
P/S (TTM) 4.32× · Pricier than 75% of peers
P/FCF 0.7× · Cheaper than median
EV/EBITDA 13.1× · Pricier 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 48 · sector 21
FUTURE 79 · sector 31
PAST 100 · sector 37
HEALTH 0 · sector 97
DIVIDEND 85 · sector 37

Insider activity: 40/100

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 Information Technology Services stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
International Business Machines Corporation IBM $235.92 $143.90 -39%
Accenture plc ACNN 2,460 MXN 250.95 MXN -90%
Infosys Limited INFY ₹1,156 ₹1,457 +26%
HCL Technologies Limited HCLTECH ₹1,204 ₹1,230 +2%
Wipro Limited WIPRO ₹178.43 ₹226.81 +27%
Tech Mahindra Limited TECHM ₹1,455 ₹1,086 -25%
Samsung SDS Co 018260 199,300 KRW 196,390 KRW -1%
Persistent Systems Limited PERSISTENT ₹5,059 ₹2,364 -53%
Hyundai Autoever Corporation 307950 393,000 KRW 133,088 KRW -66%
Coforge Limited COFORGE ₹1,541 ₹702.84 -54%

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Frequently asked questions

Is CHT Security Co (7765) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 250.16 TWD versus a price of 225.50 TWD, about +11% (undervalued).
What is the fair value of 7765?
Our model-based fair value for CHT Security Co is 250.16 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 225.50 TWD.
What is the quality score of 7765?
CHT Security Co has a Quality Score of 58/100. 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 CHT Security Co (7765)?
CHT Security Co reported trailing-twelve-month revenue of about 2.1B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 7765?
The net profit margin of CHT Security Co is about 21.2%, meaning it keeps roughly 21.2% 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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