Concord International Securities Co., Ltd (5864) AI Stock Analysis

Concord International Securities Co., Ltd

(TPEx:5864)

Select Model

Rating:67Neutral

Price Target:TWD 32.00▲(1.91% Upside)

Action:initiatedcoverage

Date:11/09/26

Strong financial performance from revenue growth and balance sheet stability forms the primary support, enhanced by attractive low P/E valuation; weak technical momentum with price below moving averages and negative MACD limits the overall score.

Positive Factors

Strong ProfitabilityExceptionally strong profitability across most years indicates that the business can generate substantial earnings when operating conditions are supportive. The rebound from the 2022 loss to strong profits in 2023–2025 provides a meaningful earnings base for reinvestment and shareholder returns.

Negative Factors

Weak Cash ConversionRepeated negative operating and free cash flow shows that reported earnings have not consistently converted into cash. Even though cash flow turned positive in 2025, conversion was weak relative to net income, which can constrain internal funding and reduce confidence in earnings durability.

Concord International Securities Co., Ltd (5864) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 15.84B
Dividend Yield: 1.59%
Average Volume (3M): 2.70M
Price to Earnings (P/E): 2.6
Beta (1Y): 1.61
Revenue Growth: ―
EPS Growth: ―
Country: TW
Employees: 213
Sector: General
Sector Strength: 55
Industry: Investment - Banking & Investment Services

Concord International Securities Co., Ltd Business Overview & Revenue Model

Company Description

Established in 1978, Concord International Securities Co., Ltd is a financial institution based in Tainan City, Taiwan. It specializes in offering securities brokerage and underwriting services. Furthermore, the company is involved in the trading of...

Concord International Securities Co., Ltd Financial Statement Overview

Summary

Revenue surged 140% with net margins above 81% and a stable low-leverage balance sheet support solid profitability and stability, though volatile cash flows introduce inconsistency.

Income Statement

76Positive

Balance Sheet

84Very Positive

Cash Flow

42Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	6.12B	1.42B	717.88M	495.23M	553.53M	678.01M
Gross Profit	6.06B	1.37B	698.67M	479.43M	539.61M	653.34M
EBITDA	6.43B	1.21B	757.14M	918.00M	-160.09M	770.38M
Net Income	6.30B	1.16B	688.22M	875.98M	-224.66M	703.02M
Balance Sheet
Total Assets	19.40B	12.46B	8.75B	7.63B	5.53B	8.40B
Cash, Cash Equivalents and Short-Term Investments	246.09M	176.89M	4.62B	3.43B	2.06B	2.85B
Total Debt	3.18B	2.40B	409.74M	778.39M	350.04M	1.54B
Total Liabilities	6.50B	4.29B	1.51B	1.97B	1.24B	3.67B
Stockholders Equity	12.90B	8.16B	7.24B	5.66B	4.29B	4.73B
Cash Flow
Free Cash Flow	-1.41B	132.97M	-573.60M	-880.58M	1.35B	-544.98M
Operating Cash Flow	-1.38B	225.18M	-567.58M	-863.70M	1.36B	-528.39M
Investing Cash Flow	-1.36B	-2.11B	-5.17M	-15.13M	-9.23M	-19.23M
Financing Cash Flow	2.72B	1.82B	598.75M	844.30M	-1.34B	555.22M

Concord International Securities Co., Ltd Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:5864 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6021	73Outperform	TWD 15.66B	4.62	―	3.89%	425.42%	―
TW:6024	72Outperform	TWD 14.93B	7.92	―	4.98%	28.69%	36.92%
TW:6016	69Neutral	TWD 14.98B	3.30	―	0.79%	326.63%	376.35%
TW:5864	67Neutral	TWD 15.54B	2.55	―	1.59%	―	―
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

TW:5864 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:5864	Concord International Securities Co., Ltd	31.40	17.05	118.86%
TW:6016	Concord Securities Co., Ltd.	19.55	8.25	72.93%
TW:6021	Good Finance Securities Co Ltd	51.40	26.28	104.65%
TW:6024	Capital Futures Corp.	56.20	11.43	25.52%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 09, 2026

Concord International Securities Co., Ltd AI Stock Analysis