Taiwan Shin Kong Security Co Ltd (9925) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Taiwan Shin Kong Security Co Ltd stock TWD 47.33, price TWD 39.15, upside +20.9%, quality 62 out of 100. Rating: undervalued. Calculated from audited financials with 24 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 5, 2026.
How to read this chart
60‑month range 29.91 TWD – 41.50 TWD · fair‑value band 35.50 TWD – 59.16 TWD · the 39.15 TWD price screens below the 47.33 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Taiwan Shin Kong Security Co., Ltd., together with its subsidiaries, provides electronic security services in Taiwan. It operates through Electronic Services Business, Cash-In-Transit Business, Stationed Security Business, and Other segments.
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The company engages in the design, sale, rental, installation, maintenance, repair, and inspection of disaster prevention, theft prevention, and fire protection equipment; and import and export of related products. It also provides cash escort and permanent security guard services.
In addition, the company offers family security, community cloud guard, home care companionship, AED, SKS FireOut, SMART-ADD-ON, automate proteng, MEGA composter, and MEGA vision services; business cloud guard, AI smart video protection, business security, video surveillance, smart door keeper, SKS smart butler, smart BnB suite, GPS fleet management, digital dash camera, SKPOS, driving vision assist system, LADAKE mobile attendance, and WorkLink services; and smart green building, smart disaster prevention, fire alarm monitoring, and vehicle-specific fire blanket services.
Further, it engages in general investment; transportation and security of cash and other valuables; operation of apartment building management and parking lots; information software; preservation of machinery and equipment; engineering construction; internet communication; access control and security systems; property management; installation and sale of electronic equipment and electronic information software; medical equipment retail; car rental; management services; and health and wellness products, and home appliance distribution activities.
The company was formerly known as Taiwan Sogo Shin Kong Security Co. Ltd. Taiwan Shin Kong Security Co., Ltd. was incorporated in 1980 and is based in Taipei, Taiwan.
Stock analysis
Taiwan Shin Kong Security Co Ltd (9925) currently trades at 39.15 TWD, while our model-based Fair Value estimate is 47.33 TWD, implying the stock looks roughly 17% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 49.20 TWD per share, and 14 of the 24 models we run sit above the 39.15 TWD price.
Bear case: the Asset-Based group reads lowest at 8.54 TWD, and 10 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: 35.50 TWD (bear) to 59.16 TWD (bull), the price of 39.15 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 Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Taiwan Shin Kong Security Co Ltd reported revenue of 8.1B TWD in FY2025 versus 7.6B TWD in FY2021, a compound +1.8%/yr. Reported net income was 911M TWD in FY2025, compounding −1.4%/yr from FY2021.
Key figures
Market cap 16.0B TWD (≈ $488M) Small · P/E ratio 13.0 · P/S ratio 1.92 · EPS (TTM) 3.02 TWD · Dividend yield 5.1% · Net margin 14.0% · Return on equity 8.7% · Return on assets (EBIT) 5.4% (5-year average).
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 6% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 1% fair-value upside, at 21%, 9925 screens cheaper than that median.
Fair Value models
Bear35.50 TWDFair Value 47.33 TWDBull59.16 TWD
Price 39.15 TWD · Upside +20.9%
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 (0.8747 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.68/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+3.7%
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.
+2.1%
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.
+2.5%
Start year 2020 (pandemic)
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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.
+4.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−0.9%
Dividend (yield on the price)5.1%
Per share before 2020divided by the spin-off factor 1.01
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−0.9% vs −1.8%, steady
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.16% → 9%
Pace: the 5-year rate starts in 2020 (pandemic)
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).
−6.8%
The company could shrink this much every year for the next five years and today's price would still be justified.
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 −8.3% a year for the price.
Compare Taiwan Shin Kong Security 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.Security & Protection Services · 105 stocks
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Cite: Fair Value Calculator (2026). "Taiwan Shin Kong Security Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/9925
Frequently asked questions
Is Taiwan Shin Kong Security Co Ltd (9925) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 47.33 TWD versus a price of 39.15 TWD, about +21% upside (undervalued).
What is the fair value of 9925?
Our model-based fair value for Taiwan Shin Kong Security Co Ltd is 47.33 TWD (as of Nov 5, 2026), built from audited fundamentals. The current price: 39.15 TWD.
What is the quality score of 9925?
Taiwan Shin Kong Security 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 Taiwan Shin Kong Security Co Ltd (9925)?
Our model-based price target is the fair value of 47.33 TWD (as of Nov 5, 2026) from 24 valuation models. Cautious scenario 35.50 TWD, optimistic scenario 59.16 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Taiwan Shin Kong Security Co Ltd stock forecast for 2026?
Our models put fair value at 47.33 TWD, about +21% upside versus a price of 39.15 TWD (undervalued). Cautious scenario 35.50 TWD, optimistic scenario 59.16 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Taiwan Shin Kong Security Co Ltd (9925)?
Taiwan Shin Kong Security Co Ltd reported trailing-twelve-month revenue of about 8.3B TWD (latest available figure, as of Nov 5, 2026).
Does Taiwan Shin Kong Security Co Ltd pay a dividend?
Taiwan Shin Kong Security Co Ltd currently shows a dividend yield of 5.11% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Taiwan Shin Kong Security Co Ltd (9925) and when is the ex-dividend date?
Taiwan Shin Kong Security Co Ltd pays a dividend of 2.00 TWD per share a year, a dividend yield of 5.1%. The last ex-dividend date was Jul 24, 2026. A dividend has been paid every year since 2001. The payout ratio is 66.2% of earnings. Free cash flow covers the dividend 1.56 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Taiwan Shin Kong Security Co Ltd (9925)?
For today's price to be fair in a discounted-cash-flow model, Taiwan Shin Kong Security Co Ltd would have to grow free cash flow by -6.8 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.5 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of 9925 use?
Our models discount Taiwan Shin Kong Security Co Ltd at 10.3 %: a base by market capitalisation (small), damped by beta 0.04, 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 Taiwan Shin Kong Security Co Ltd that is -6.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has Taiwan Shin Kong Security Co Ltd (9925) delivered so far?
Over the past 5 years revenue at Taiwan Shin Kong Security Co Ltd grew +2.5 % a year. The price currently implies free-cash-flow growth of -6.8 % 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 Taiwan Shin Kong Security Co Ltd (9925) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Taiwan Shin Kong Security Co Ltd (-6.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Taiwan Shin Kong Security Co Ltd (9925)?
The free-cash-flow yield on the price is 7.50 %: that much free cash flow Taiwan Shin Kong Security Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Taiwan Shin Kong Security Co Ltd (9925)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Taiwan Shin Kong Security Co Ltd it is 47.33 TWD per share (as of Nov 5, 2026), against a price of 39.15 TWD. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Taiwan Shin Kong Security Co Ltd stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 9925 trades below its calculated fair value: price 39.15 TWD, fair value 47.33 TWD, a gap of about +21% (undervalued). 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 9925?
No. The price is what the market pays today (39.15 TWD); the fair value is what the company's own numbers justify (47.33 TWD). For Taiwan Shin Kong Security Co Ltd the two are 8.18 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Taiwan Shin Kong Security Co Ltd worth?
The market values Taiwan Shin Kong Security Co Ltd at about 16.0B TWD (market capitalisation, as of Nov 5, 2026). Per share that is 39.15 TWD; our models calculate a fair value of 47.33 TWD per share.
What do the bullish and bearish scenarios say about 9925?
Our models span a range for Taiwan Shin Kong Security Co Ltd: cautious scenario 35.50 TWD, base 47.33 TWD, optimistic 59.16 TWD per share (as of Nov 5, 2026, price 39.15 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 9925?
Taiwan Shin Kong Security Co Ltd trades at a price-to-earnings ratio of 13.0 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 47.33 TWD is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2020 to 2025), reported earnings: 16.3. Other multiples: P/B 1.2, P/S 1.9, EV/EBITDA 8.3.
How solid is the balance sheet of Taiwan Shin Kong Security Co Ltd (9925)?
Balance-sheet figures for Taiwan Shin Kong Security Co Ltd (as of Nov 5, 2026): return on equity 8.7%, debt of 0.01 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is 9925 from its 52-week high?
Taiwan Shin Kong Security Co Ltd trades at 39.15 TWD, about 6% below its 52-week high of 41.50 TWD and at the low of 39.05 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 47.33 TWD is for.
Which stocks are comparable to Taiwan Shin Kong Security Co Ltd?
From the same area (Industrials) we also value Allegion plc, ADT Inc, Zhejiang Dahua Technology Co, MSA Safety Incorporated, 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 Taiwan Shin Kong Security Co Ltd stock attractive at the current price?
The data as of Nov 5, 2026: price 39.15 TWD, calculated fair value 47.33 TWD (+21%), Quality Score 62/100, from 24 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 9925 calculated?
We run Taiwan Shin Kong Security Co Ltd through 24 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 47.33 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. Taiwan Shin Kong Security Co Ltd currently trades 17% below its own fair value, and the market average says nothing about that. 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 Taiwan Shin Kong Security Co Ltd (9925)?
The closing price on Nov 9, 2026 was 39.15 TWD. Our model-based fair value is 47.33 TWD, about +21% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Taiwan Shin Kong Security Co Ltd right now?
Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Taiwan Shin Kong Security Co Ltd (9925) come from?
Earnings per share at Taiwan Shin Kong Security Co Ltd grew −1.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.0 %, EBIT margin −3.5 %, tax rate +0.5 %, residual (interest, one-offs) +0.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Taiwan Shin Kong Security Co Ltd
How large is the market capitalisation of Taiwan Shin Kong Security Co Ltd (9925)?
The market capitalisation of Taiwan Shin Kong Security Co Ltd is 16.0B TWD (≈ $488M). 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 Taiwan Shin Kong Security Co Ltd (9925)?
The price-to-sales ratio of Taiwan Shin Kong Security Co Ltd is 1.92 (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 Taiwan Shin Kong Security Co Ltd (9925)?
Earnings per share at Taiwan Shin Kong Security Co Ltd are 3.02 TWD (price ÷ EPS = P/E 13.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Taiwan Shin Kong Security Co Ltd (9925)?
The dividend yield of Taiwan Shin Kong Security Co Ltd is 5.1% (payout 66.2%). 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 Taiwan Shin Kong Security Co Ltd (9925)?
The net margin of Taiwan Shin Kong Security Co Ltd is 14.0% (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 Taiwan Shin Kong Security Co Ltd (9925)?
The return on equity (ROE) of Taiwan Shin Kong Security Co Ltd is 8.7% (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 Taiwan Shin Kong Security Co Ltd (9925)?
On an EBIT basis the return on assets of Taiwan Shin Kong Security Co Ltd is 5.4% (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 Taiwan Shin Kong Security Co Ltd (9925)?
The operating margin of Taiwan Shin Kong Security Co Ltd is 8.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Taiwan Shin Kong Security Co Ltd (9925)?
Revenue at Taiwan Shin Kong Security Co Ltd is growing +2.8% versus a year earlier (3y avg +2.1%). 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 Taiwan Shin Kong Security Co Ltd (9925)?
Earnings per share at Taiwan Shin Kong Security Co Ltd are growing +72.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Taiwan Shin Kong Security Co Ltd (9925) hold?
Taiwan Shin Kong Security Co Ltd holds more cash than debt, 1.2B TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 5, 2026