Taiming Assurance Broker Co., Ltd. (5878) AI Stock Analysis

Taiming Assurance Broker Co., Ltd.

(TPEx:5878)

Select Model

Rating:69Neutral

Price Target:TWD 39.00▲(12.39% Upside)

Action:initiatedcoverage

Date:11/09/26

Taiming Assurance Broker scores well on fundamentals: an almost debt-free balance sheet, excellent cash conversion, improving 2025 profitability and a 13.5% ROE make it a low-risk, resilient operator. Valuation reinforces the case, with a modest 14.2x P/E, a 6.7% dividend yield covered by free cash flow and very low volatility. Offsetting these strengths, technicals are poor — the shares sit below all major moving averages with negative MACD and deeply oversold readings — and the multi-year slide in gross margin from 21.7% to 14.8% raises questions about structural commission or cost pressure. The result is a solid but not top-tier score: financially sound and reasonably priced, yet held back by weak price momentum and unresolved margin erosion.

Positive Factors

Revenue and Profitability ReboundThe sharp 2025 revenue rebound and higher net margin indicate stronger operating performance and renewed earnings capacity. If this improvement persists, it can support reinvestment, shareholder returns, and a more durable profit base over the next several quarters.

Negative Factors

Long-Term Margin CompressionAlthough margins recovered in 2025, gross profitability remains below earlier peak levels, indicating that pricing or revenue mix has become less favorable. Persistent margin compression could limit earnings growth even if revenue continues expanding and makes profitability less resilient across cycles.

Taiming Assurance Broker Co., Ltd. (5878) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 829.55M
Dividend Yield: 6.92%
Average Volume (3M): 7,704
Price to Earnings (P/E): 13.4
Beta (1Y): 0.15
Revenue Growth: 1.16%
EPS Growth: -4.42%
Country: TW
Employees: 80
Sector: General
Sector Strength: 55
Industry: Insurance - Brokers

Taiming Assurance Broker Co., Ltd. Business Overview & Revenue Model

Company Description

Taiming Assurance Broker Co., Ltd., founded in 2002 and headquartered in Taipei, Taiwan, functions as an intermediary for both life and property insurance policies throughout the region. The company's diverse offerings include a variety of life insur...

Taiming Assurance Broker Co., Ltd. Financial Statement Overview

Summary

A conservative, cash-generative profile anchors the score. The balance sheet (82) is very strong, with debt-to-equity near 0.08, equity funding roughly two-thirds of assets and ROE improving to 13.5%. Cash flow (83) rebounded sharply, with operating cash flow of NT$106.2m, free cash flow up about 44% to NT$103.1m and near-complete conversion of earnings into cash on minimal capex. The income statement (67) is the weaker leg: revenue grew about 5% to NT$887.8m and net income rose roughly 29% to NT$71.7m with margins inflecting higher, but gross margin has compressed steadily from 21.7% in 2020 to 14.8% in 2025 and profits remain below the 2020 peak.

Income Statement

67Positive

Balance Sheet

82Very Positive

Cash Flow

83Very Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	888.94M	887.79M	846.95M	784.35M	737.92M	812.57M
Gross Profit	155.76M	131.30M	140.71M	145.59M	162.53M	176.40M
EBITDA	93.90M	111.27M	94.55M	94.60M	108.56M	122.00M
Net Income	62.90M	71.66M	55.45M	55.09M	65.95M	74.68M
Balance Sheet
Total Assets	737.15M	795.12M	817.34M	789.54M	773.85M	775.48M
Cash, Cash Equivalents and Short-Term Investments	232.09M	283.47M	265.20M	256.99M	259.26M	265.61M
Total Debt	33.09M	41.50M	47.83M	32.23M	51.05M	20.39M
Total Liabilities	218.15M	262.96M	273.80M	248.40M	239.67M	206.46M
Stockholders Equity	519.00M	532.16M	543.55M	541.14M	534.18M	569.02M
Cash Flow
Free Cash Flow	81.41M	103.06M	67.63M	62.28M	81.17M	109.19M
Operating Cash Flow	84.68M	106.25M	71.73M	63.91M	81.69M	113.09M
Investing Cash Flow	-6.75M	-48.52M	27.66M	-27.96M	36.45M	-20.23M
Financing Cash Flow	-83.04M	-80.65M	-85.46M	-89.12M	-96.38M	-101.99M

Taiming Assurance Broker Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:5878 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:5878	69Neutral	TWD 875.85M	13.45	―	6.92%	1.16%	-4.42%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:5201	48Neutral	TWD 1.05B	-128.74	―	1.83%	4.03%	-143.12%
TW:8071	38Underperform	TWD 1.01B	-31.70	―	―	4.97%	62.54%

* General Sector Average

Performance Comparison

TW:5878 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:5878	Taiming Assurance Broker Co., Ltd.	34.70	-4.22	-10.85%
TW:5201	K Way Information Corporation	27.30	-13.32	-32.79%
TW:6938	Neweb Information Co. Ltd.	80.60	-6.43	-7.38%
TW:7737	KDAN Mobile Software Ltd	23.15	-23.10	-49.95%
TW:7819	Systex Fintech Corp.	35.55	-73.58	-67.43%
TW:8071	ABICO NetCom Co., Ltd.	17.60	-0.25	-1.40%

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

Taiming Assurance Broker Co., Ltd. AI Stock Analysis