Good Finance Securities Co Ltd AI Stock Analysis
Good Finance Securities Co Ltd (6021) AI Stock Analysis
Good Finance Securities Co Ltd
(TPEx:6021)
Good Finance Securities scores well on the back of an exceptionally cheap valuation — a 4.5x P/E and near 4% dividend yield — combined with a sharp profit upswing that saw revenue nearly double and net income rise to NT$1.16 billion with 11.9% ROE. Technicals reinforce this, with the price trading well above its 50-, 100- and 200-day averages and a positive MACD, though near-term indicators point to consolidation. The score is held back by weak cash conversion (negative free cash flow in four of six years), rising leverage at 1.48x debt-to-equity, and the highly cyclical nature of brokerage earnings, which makes the current profit level difficult to rely on. No earnings call or corporate event data was available, so those factors were excluded.
Good Finance Securities Co Ltd (6021) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 15.73B
- Dividend Yield
- 3.95%
- Average Volume (3M)
- 419.41K
- Price to Earnings (P/E)
- 4.6
- Beta (1Y)
- 0.63
- Revenue Growth
- 425.42%
- EPS Growth
- ―
- Country
- TW
- Employees
- 418
- Sector
- General
- Sector Strength
- 55
- Industry
- Investment - Banking & Investment Services
Good Finance Securities Co Ltd Business Overview & Revenue Model
Company Description
Good Finance Securities Co., Ltd., including its subsidiaries, operates as a prominent financial services provider in Taiwan, primarily focusing on the securities commission agency and brokerage sector. The company's diverse operations are organized...
Good Finance Securities Co Ltd Financial Statement Overview
Summary
Earnings momentum is strong: revenue nearly doubled to NT$2.30 billion, net income more than doubled to NT$1.16 billion, operating margin expanded to 60.2% and ROE improved to 11.9% (Income Statement 79). The balance sheet has grown materially with equity close to doubling over five years, but leverage has risen to 1.48x debt-to-equity from 0.48x in 2020 (Balance Sheet 64). The weak link is cash conversion: free cash flow remains negative at -NT$794.7 million and has been negative in four of six years, leaving growth reliant on external funding (Cash Flow 43). Results are also highly cycle-dependent, with profits ranging from NT$52 million to NT$1.16 billion in four years.
Income Statement
79PositiveBalance Sheet
64PositiveCash Flow
43Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.05B | 2.30B | 1.24B | 982.97M | 943.25M | 1.36B |
| Gross Profit | 5.60B | 2.06B | 1.17B | 955.54M | 894.43M | 1.27B |
| EBITDA | 3.86B | 1.48B | 689.56M | 231.17M | 133.55M | 441.44M |
| Net Income | 3.51B | 1.16B | 438.32M | 106.14M | 52.50M | 320.99M |
Balance Sheet | ||||||
| Total Assets | 41.20B | 32.57B | 23.49B | 15.23B | 11.99B | 16.42B |
| Cash, Cash Equivalents and Short-Term Investments | 16.62B | 19.07B | 13.90B | 6.86B | 5.65B | 5.78B |
| Total Debt | 16.20B | 14.49B | 9.95B | 4.23B | 3.01B | 3.25B |
| Total Liabilities | 28.31B | 22.81B | 15.20B | 9.47B | 7.43B | 10.83B |
| Stockholders Equity | 12.89B | 9.77B | 8.30B | 5.76B | 4.56B | 5.59B |
Cash Flow | ||||||
| Free Cash Flow | -3.85B | -794.68M | -1.96B | -654.19M | 626.56M | -593.54M |
| Operating Cash Flow | -1.99B | 1.07B | -1.89B | -530.98M | 660.55M | -541.57M |
| Investing Cash Flow | 2.37B | -1.34B | 80.03M | -679.03M | 38.05M | -251.78M |
| Financing Cash Flow | 1.03B | -169.51M | 3.32B | 803.21M | -90.90M | 828.55M |
Good Finance Securities Co Ltd Peers Comparison
Overall Rating
- TW:602173Outperform
TW:283272Outperform
TW:602472Outperform
TW:601669Neutral
TW:586465Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:6021 | 73Outperform | TWD 15.63B | 4.55 | ― | 3.95% | 425.42% | ― |
| TW:2832 | 72Outperform | TWD 13.59B | 8.69 | ― | 14.53% | 25.70% | 50.13% |
| TW:6024 | 72Outperform | TWD 15.09B | 8.03 | ― | 4.95% | 28.69% | 36.92% |
| TW:6016 | 69Neutral | TWD 14.52B | 3.30 | ― | 0.82% | 326.63% | 376.35% |
| TW:5864 | 65Neutral | TWD 14.66B | 2.53 | ― | 1.72% | ― | ― |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:6021 | Good Finance Securities Co Ltd | 50.60 | 25.16 | 98.87% | |
| TW:01002T | Cathay No. 1 Real Estate Investment Trust | 12.42 | -1.71 | -12.13% | |
| TW:2832 | Taiwan Fire & Marine Insurance Co., Ltd. | 53.60 | 7.21 | 15.54% | |
| TW:5864 | Concord International Securities Co., Ltd | 29.05 | 14.44 | 98.78% | |
| TW:6016 | Concord Securities Co., Ltd. | 18.80 | 7.41 | 65.01% | |
| TW:6024 | Capital Futures Corp. | 56.60 | 11.65 | 25.91% |
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