Taiwan Secom Co., Ltd. (9917) AI Stock Analysis

Taiwan Secom Co., Ltd.

(TWSE:9917)

Select Model

Rating:66Neutral

Price Target:TWD 113.00▲(7.62% Upside)

Action:initiatedcoverage

Date:11/10/26

The overall score of 66 reflects a company with strong fundamentals and an attractive valuation, offset by weak near-term technical momentum. The primary strength is the robust financial performance, highlighted by exceptional free cash flow growth and a high dividend yield. The main detractor is the bearish technical picture, with the stock trading below key moving averages and showing weak momentum, which presents a headwind for short-term price appreciation.

Positive Factors

Revenue GrowthThe sharp 2025 revenue acceleration demonstrates strong recent demand for Taiwan Secom’s security solutions and indicates improved business scale. If the company sustains this growth across residential, commercial, and industrial customers, it can support operating leverage, reinvestment, and stronger competitive positioning.

Negative Factors

Rising LeverageThe faster increase in debt than equity has made Taiwan Secom’s balance sheet less conservative than in earlier years. Higher leverage can reduce financial flexibility if growth slows, increase exposure to financing costs, and constrain the company’s ability to fund expansion or absorb operating volatility.

Taiwan Secom Co., Ltd. (9917) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 49.19B
Dividend Yield: 4.92%
Average Volume (3M): 370.06K
Price to Earnings (P/E): 15.3
Beta (1Y): 0.16
Revenue Growth: 2.45%
EPS Growth: 3.30%
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

Strong financial health driven by accelerating revenue growth (6.9%) and robust cash flow generation, with free cash flow surging 46%. Profitability remains solid with a 15.8% net margin, though slight margin compression and rising debt-to-equity (0.65) warrant monitoring.

Income Statement

78Positive

Balance Sheet

65Positive

Cash Flow

85Very Positive

Financial statement breakdown
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

UnderperformOutperform

Sector (55)

Financial Indicators

TW:9917 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:1513	69Neutral	TWD 74.85B	16.37	―	4.12%	4.27%	19.27%
TW:6214	67Neutral	TWD 48.54B	19.20	―	3.17%	33.54%	44.78%
TW:9917	66Neutral	TWD 48.67B	15.31	―	4.92%	2.45%	3.30%
TW:6414	61Neutral	TWD 51.31B	12.84	―	4.20%	21.89%	14.07%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2464	44Neutral	TWD 37.06B	46.68	―	0.31%	19.26%	―

* General Sector Average

Performance Comparison

TW:9917 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:9917	Taiwan Secom Co., Ltd.	105.00	7.65	7.86%
TW:1513	Chung-Hsin Electric & Machinery Manufacturing Corp.	145.50	4.61	3.27%
TW:2464	Mirle Automation Corp.	154.50	93.13	151.75%
TW:6214	Systex Corp	189.50	72.21	61.57%
TW:6414	Ennoconn Corp.	328.00	56.19	20.67%
TW:7828	Innostar Service Inc	1430.00	1071.00	298.33%

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

Taiwan Secom Co., Ltd. AI Stock Analysis