Taiwan Shin Kong Security Co., Ltd. (9925) AI Stock Analysis

Taiwan Shin Kong Security Co., Ltd.

(TWSE:9925)

Select Model

Rating:71Outperform

Price Target:TWD 43.00▲(8.59% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is supported primarily by a strong balance sheet, improving cash generation, and attractive valuation. Weak technical momentum and declining operating efficiency offset part of these strengths, resulting in an overall score of 71.

Positive Factors

Conservative Balance SheetDeclining leverage and consistent equity growth provide a stronger capital base and greater financial flexibility. This should help the company fund operations, manage business variability, and pursue service investment without relying heavily on additional borrowing over the next several quarters.

Negative Factors

Operating Margin CompressionLower operating profitability while revenue increased suggests that recent growth is carrying weaker economics than earlier periods. If this compression persists, it could reduce earnings scalability, constrain reinvestment capacity, and weaken the durability of the company’s otherwise solid net profitability.

Taiwan Shin Kong Security Co., Ltd. (9925) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 15.23B
Dividend Yield: 5.05%
Average Volume (3M): 687.25K
Price to Earnings (P/E): 11.3
Beta (1Y): 0.04
Revenue Growth: 5.29%
EPS Growth: 41.05%
Country: TW
Employees: 7,778
Sector: General
Sector Strength: 55
Industry: Security & Protection Services

Taiwan Shin Kong Security Co., Ltd. Business Overview & Revenue Model

Company Description

Established in Taipei City, Taiwan, in 1980, Taiwan Shin Kong Security Co., Ltd. delivers a broad spectrum of security solutions to clients both within Taiwan and across the globe. The company's core services include electronic security systems, secu...

Taiwan Shin Kong Security Co., Ltd. Financial Statement Overview

Summary

Strong balance sheet and improving cash generation support the score, while declining profitability margins and lower return on equity limit it.

Income Statement

70Positive

Balance Sheet

86Very Positive

Cash Flow

78Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	8.33B	8.13B	7.85B	7.71B	7.65B	7.57B
Gross Profit	2.67B	2.70B	2.72B	2.70B	2.74B	2.65B
EBITDA	1.43B	1.64B	1.94B	2.02B	2.04B	2.02B
Net Income	1.16B	911.16M	885.30M	937.88M	965.18M	963.13M
Balance Sheet
Total Assets	22.24B	19.99B	19.06B	18.52B	17.66B	17.91B
Cash, Cash Equivalents and Short-Term Investments	10.72B	9.03B	8.52B	8.03B	7.50B	7.82B
Total Debt	2.56B	2.53B	3.00B	3.06B	2.85B	2.64B
Total Liabilities	6.45B	5.75B	6.17B	6.28B	6.19B	6.13B
Stockholders Equity	14.50B	13.04B	11.83B	11.19B	10.49B	10.72B
Cash Flow
Free Cash Flow	656.74M	1.20B	619.74M	823.64M	813.14M	1.08B
Operating Cash Flow	1.52B	1.94B	1.43B	1.60B	1.65B	1.94B
Investing Cash Flow	-227.23M	-607.53M	-642.95M	-594.92M	-769.61M	-405.73M
Financing Cash Flow	-1.22B	-1.49B	-1.12B	-797.15M	-967.15M	-720.10M

Taiwan Shin Kong Security Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:9925 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6183	76Outperform	TWD 13.34B	18.43	―	4.01%	10.41%	26.62%
TW:8099	75Outperform	TWD 13.71B	44.91	―	1.40%	27.23%	58.65%
TW:9925	71Outperform	TWD 15.20B	11.28	―	5.05%	5.29%	41.05%
TW:2480	70Outperform	TWD 18.08B	19.57	―	4.31%	14.18%	17.00%
TW:6903	66Neutral	TWD 18.34B	12.78	―	3.04%	196.19%	262.75%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:6937	50Neutral	TWD 14.41B	40.98	―	0.64%	13.53%	33.03%

* General Sector Average

Performance Comparison

TW:9925 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:9925	Taiwan Shin Kong Security Co., Ltd.	39.60	0.96	2.49%
TW:2480	Stark Technology, Inc.	181.00	37.05	25.74%
TW:6183	Trade-Van Information Services Co.	88.50	-4.09	-4.42%
TW:6903	Jiu Han System Technology Co Ltd	280.00	115.66	70.38%
TW:6937	Skytech, Inc.	219.00	-3.81	-1.71%
TW:8099	Tatung System Technologies Inc.	150.50	80.58	115.26%

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 10, 2026

Taiwan Shin Kong Security Co., Ltd. AI Stock Analysis