Tachan Securities Co., Ltd.

TPEX:6020 Stock Report

Market Cap: NT$4.8b

Tachan Securities Valuation

Is 6020 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 6020 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 6020 (NT$19.1) is trading above our estimate of fair value (NT$15.96)

Significantly Below Fair Value: 6020 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 6020?

Key metric: As 6020 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 6020. This is calculated by dividing 6020's market cap by their current earnings.
What is 6020's PE Ratio?
PE Ratio20.8x
EarningsNT$231.40m
Market CapNT$4.82b

Price to Earnings Ratio vs Peers

How does 6020's PE Ratio compare to its peers?

The above table shows the PE ratio for 6020 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average8.9x
6015 Horizon Securities
11.6xn/aNT$4.6b
6026 Grand Fortune SecuritiesLtd
9.1xn/aNT$5.1b
5864 Concord International Securities
5.3xn/aNT$5.6b
6016 Concord Securities
9.5xn/aNT$8.7b
6020 Tachan Securities
20.8xn/aNT$4.8b

Price-To-Earnings vs Peers: 6020 is expensive based on its Price-To-Earnings Ratio (20.8x) compared to the peer average (8.9x).

Price to Earnings Ratio vs Industry

How does 6020's PE Ratio compare vs other companies in the Asian Capital Markets Industry?

40 CompaniesPrice / EarningsEstimated GrowthMarket Cap
6020 20.8xIndustry Avg. 17.8xNo. of Companies104PE01632486480+
40 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 6020 is expensive based on its Price-To-Earnings Ratio (20.8x) compared to the Asian Capital Markets industry average (17.8x).

Price to Earnings Ratio vs Fair Ratio

What is 6020's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

6020 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio20.8x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 6020's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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