Taiwan Secom Co., Ltd. AI Stock Analysis
Taiwan Secom Co., Ltd. (9917) AI Stock Analysis
Taiwan Secom Co., Ltd.
(TWSE:9917)
The score is anchored by dependable fundamentals: steady mid-single-digit revenue growth, record profits, wide and stable margins, consistently high return on equity near 22%, and a sharp step-up in operating and free cash flow that comfortably funds capital spending and dividends. Valuation adds support, with a modest 15.5 P/E and a well-covered 4.92% dividend yield. The main drags are near-term technicals — the shares trade below their 20-, 50- and 100-day averages with weak momentum readings — alongside slowly eroding long-run margins and rising leverage (debt-to-equity up from 0.39 to 0.65 since 2021). Net result is a solid, income-oriented, low-volatility holding rather than a growth story.
Taiwan Secom Co., Ltd. (9917) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 49.19B
- Dividend Yield
- 4.92%
- Average Volume (3M)
- 367.78K
- Price to Earnings (P/E)
- 15.3
- Beta (1Y)
- 0.16
- Revenue Growth
- 2.74%
- EPS Growth
- 5.67%
- Country
- TW
- Employees
- 8,937
- Sector
- General
- Sector Strength
- 55
- Industry
- Security & Protection Services
Taiwan Secom Co., Ltd. Business Overview & Revenue Model
Company Description
Taiwan Secom Co., Ltd., established in Taipei, Taiwan, in 1977, provides a comprehensive array of services, with a primary focus on security solutions across the nation. The company's operations are structured into four key divisions: Electronic Syst...
Taiwan Secom Co., Ltd. Financial Statement Overview
Summary
Taiwan Secom shows the profile of a mature, defensive, cash-generative service business. Revenue grew about 6% to NT$18.98 billion with a record NT$3.01 billion net income, gross margin improved to 32.6%, and return on equity has been anchored near 22% for five straight years. Cash flow was the standout, with operating cash flow up roughly 48% to NT$4.98 billion and free cash flow up about 46%, covering net income 1.7 times and confirming high earnings quality. Offsetting these strengths are a gradual long-run margin compression (gross margin was 36.5% in 2020) and rising leverage, with debt-to-equity climbing from 0.39 in 2021 to 0.65, though cash flow coverage keeps the debt load comfortably serviceable.
Income Statement
77PositiveBalance Sheet
71PositiveCash Flow
83Very Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 19.14B | 18.98B | 17.86B | 17.07B | 15.36B | 14.13B |
| Gross Profit | 6.14B | 6.18B | 5.49B | 5.58B | 5.07B | 5.03B |
| EBITDA | 5.69B | 5.77B | 5.38B | 4.27B | 4.71B | 4.62B |
| Net Income | 3.05B | 3.01B | 2.85B | 2.59B | 2.58B | 2.53B |
Balance Sheet | ||||||
| Total Assets | 31.57B | 30.86B | 28.26B | 26.86B | 25.90B | 23.55B |
| Cash, Cash Equivalents and Short-Term Investments | 6.19B | 6.18B | 5.86B | 4.98B | 5.75B | 5.29B |
| Total Debt | 7.69B | 8.88B | 7.72B | 6.46B | 5.89B | 4.56B |
| Total Liabilities | 18.43B | 16.66B | 14.78B | 13.80B | 13.37B | 11.53B |
| Stockholders Equity | 12.56B | 13.64B | 13.01B | 12.59B | 12.04B | 11.61B |
Cash Flow | ||||||
| Free Cash Flow | 2.53B | 3.20B | 2.11B | 1.59B | 1.59B | 1.89B |
| Operating Cash Flow | 3.93B | 4.98B | 3.36B | 3.33B | 2.98B | 3.27B |
| Investing Cash Flow | -1.20B | -2.24B | -1.07B | -1.30B | -1.24B | -1.36B |
| Financing Cash Flow | -2.76B | -2.35B | -1.53B | -2.49B | -1.25B | -2.76B |
Taiwan Secom Co., Ltd. Peers Comparison
Overall Rating
- TW:991771Outperform
TW:151369Neutral
TW:621467Neutral
TW:641461Neutral
TW:246444Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:9917 | 71Outperform | TWD 48.90B | 15.31 | ― | 4.92% | 2.74% | 5.67% |
| TW:1513 | 69Neutral | TWD 72.38B | 17.04 | ― | 3.96% | 3.84% | 22.26% |
| TW:6214 | 67Neutral | TWD 46.28B | 19.66 | ― | 3.10% | 33.54% | 44.78% |
| TW:6414 | 61Neutral | TWD 52.49B | 13.45 | ― | 4.22% | 8.27% | 19.95% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:2464 | 44Neutral | TWD 35.47B | 49.24 | ― | 0.29% | 19.16% | ― |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:9917 | Taiwan Secom Co., Ltd. | 105.00 | 7.20 | 7.36% | |
| TW:1513 | Chung-Hsin Electric & Machinery Manufacturing Corp. | 151.50 | 6.75 | 4.66% | |
| TW:2464 | Mirle Automation Corp. | 163.00 | 100.34 | 160.14% | |
| TW:6214 | Systex Corp | 193.50 | 72.86 | 60.40% | |
| TW:6414 | Ennoconn Corp. | 326.50 | 60.47 | 22.73% | |
| TW:7828 | Innostar Service Inc | 1395.00 | 1033.01 | 285.37% |
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