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Ta Ching Securities

GTSM:6021
Snowflake Description

Adequate balance sheet unattractive dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
6021
GTSM
NT$4B
Market Cap
  1. Home
  2. TW
  3. Diversified Financials
Company description

Ta Ching Securities Co., Ltd. provides securities services in Taiwan. The last earnings update was 12 days ago. More info.


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6021 Share Price and Events
7 Day Returns
-4.9%
GTSM:6021
0.1%
TW Capital Markets
2%
TW Market
1 Year Returns
13.3%
GTSM:6021
-5.6%
TW Capital Markets
-10.1%
TW Market
6021 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ta Ching Securities (6021) -4.9% -6.9% -2.3% 13.3% 27.5% -13.9%
TW Capital Markets 0.1% -9% -11.9% -5.6% 8.2% 6.6%
TW Market 2% -13.5% -17.4% -10.1% -2.7% 0.4%
1 Year Return vs Industry and Market
  • 6021 outperformed the Capital Markets industry which returned -5.6% over the past year.
  • 6021 outperformed the Market in Taiwan, Province of China which returned -10.1% over the past year.
Price Volatility
6021
Industry
5yr Volatility vs Market

6021 Value

 Is Ta Ching Securities undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Ta Ching Securities to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Ta Ching Securities.

GTSM:6021 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= NT$15.15 * 2.9%
NT$0.43
Book Value of Equity per Share Median Book Value from the past 5 years. NT$15.15
Discount Rate (Cost of Equity) See below 7.7%
Perpetual Growth Rate 10-Year TW Government Bond Rate 0.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for GTSM:6021
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year TW Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.2%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.749 (1 + (1- 20%) (13.19%))
1.124
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.12
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.71% + (1.124 * 6.21%)
7.69%

Discounted Cash Flow Calculation for GTSM:6021 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Ta Ching Securities is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

GTSM:6021 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (2.9% – 7.69%) * NT$15.15)
NT$-0.73
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= NT$-0.73 / (7.69% - 0.71%)
NT$-10.46
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= NT$15.15 + NT$-10.46
NT$4.68
GTSM:6021 Discount to Share Price
Calculation Result
Value per share (TWD) From above. NT$4.68
Current discount Discount to share price of NT$12.75
= -1 x (NT$12.75 - NT$4.68) / NT$4.68
-172.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Ta Ching Securities is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Ta Ching Securities's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ta Ching Securities's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
GTSM:6021 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in TWD NT$0.09
GTSM:6021 Share Price ** GTSM (2020-04-07) in TWD NT$12.75
Taiwan, Province of China Capital Markets Industry PE Ratio Median Figure of 14 Publicly-Listed Capital Markets Companies 13.56x
Taiwan, Province of China Market PE Ratio Median Figure of 1,475 Publicly-Listed Companies 14.11x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Ta Ching Securities.

GTSM:6021 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= GTSM:6021 Share Price ÷ EPS (both in TWD)

= 12.75 ÷ 0.09

149.93x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ta Ching Securities is overvalued based on earnings compared to the TW Capital Markets industry average.
  • Ta Ching Securities is overvalued based on earnings compared to the Taiwan, Province of China market.
Price based on expected Growth
Does Ta Ching Securities's expected growth come at a high price?
Raw Data
GTSM:6021 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 149.93x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Asia Capital Markets Industry PEG Ratio Median Figure of 61 Publicly-Listed Capital Markets Companies 1.52x
Taiwan, Province of China Market PEG Ratio Median Figure of 183 Publicly-Listed Companies 1.08x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Ta Ching Securities, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Ta Ching Securities's assets?
Raw Data
GTSM:6021 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in TWD NT$15.13
GTSM:6021 Share Price * GTSM (2020-04-07) in TWD NT$12.75
Taiwan, Province of China Capital Markets Industry PB Ratio Median Figure of 15 Publicly-Listed Capital Markets Companies 0.72x
Taiwan, Province of China Market PB Ratio Median Figure of 1,961 Publicly-Listed Companies 1.17x
GTSM:6021 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= GTSM:6021 Share Price ÷ Book Value per Share (both in TWD)

= 12.75 ÷ 15.13

0.84x

* Primary Listing of Ta Ching Securities.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ta Ching Securities is overvalued based on assets compared to the TW Capital Markets industry average.
X
Value checks
We assess Ta Ching Securities's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Ta Ching Securities has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

6021 Future Performance

 How is Ta Ching Securities expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Ta Ching Securities has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
12.5%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ta Ching Securities expected to grow at an attractive rate?
  • Unable to compare Ta Ching Securities's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Ta Ching Securities's earnings growth to the Taiwan, Province of China market average as no estimate data is available.
  • Unable to compare Ta Ching Securities's revenue growth to the Taiwan, Province of China market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
GTSM:6021 Future Growth Rates Data Sources
Data Point Source Value (per year)
Asia Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 12.5%
Asia Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 7%
Taiwan, Province of China Market Earnings Growth Rate Market Cap Weighted Average 11.1%
Taiwan, Province of China Market Revenue Growth Rate Market Cap Weighted Average 6.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
GTSM:6021 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in TWD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
GTSM:6021 Past Financials Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income *
2019-12-31 522 -1,127 26
2019-09-30 475 -550 7
2019-06-30 485 1,356 88
2019-03-31 553 1,714 157
2018-12-31 599 2,565 197
2018-09-30 675 1,481 235
2018-06-30 697 625 191
2018-03-31 628 197 158
2017-12-31 621 -637 168
2017-09-30 537 -325 133
2017-06-30 502 -224 106
2017-03-31 422 36 27

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Ta Ching Securities is high growth as no earnings estimate data is available.
  • Unable to determine if Ta Ching Securities is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
GTSM:6021 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Ta Ching Securities Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

GTSM:6021 Past Financials Data
Date (Data in TWD Millions) EPS *
2019-12-31 0.09
2019-09-30 0.02
2019-06-30 0.29
2019-03-31 0.51
2018-12-31 0.64
2018-09-30 0.77
2018-06-30 0.62
2018-03-31 0.52
2017-12-31 0.55
2017-09-30 0.43
2017-06-30 0.35
2017-03-31 0.09

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Ta Ching Securities will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine Ta Ching Securities's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  2. Ta Ching Securities's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Diversified Financials companies here
  3. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Ta Ching Securities's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Asia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Asia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Ta Ching Securities has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

6021 Past Performance

  How has Ta Ching Securities performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Ta Ching Securities's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Ta Ching Securities has delivered over 20% year on year earnings growth in the past 5 years.
  • Ta Ching Securities's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Ta Ching Securities's 1-year earnings growth is negative, it can't be compared to the TW Capital Markets industry average.
Earnings and Revenue History
Ta Ching Securities's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Ta Ching Securities Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

GTSM:6021 Past Revenue, Cash Flow and Net Income Data
Date (Data in TWD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 521.78 26.09 312.03
2019-09-30 475.14 6.81 280.59
2019-06-30 485.23 88.43 285.92
2019-03-31 553.31 156.70 296.10
2018-12-31 599.13 196.59 325.46
2018-09-30 675.10 234.89 327.10
2018-06-30 696.64 190.59 320.48
2018-03-31 628.41 158.28 302.67
2017-12-31 621.22 167.72 290.48
2017-09-30 537.38 133.27 272.35
2017-06-30 502.19 106.49 266.57
2017-03-31 422.41 27.10 266.02
2016-12-31 347.93 -56.59 269.84
2016-09-30 368.28 -51.68 277.88
2016-06-30 224.91 -210.12 280.24
2016-03-31 309.69 -140.65 286.74
2015-12-31 387.27 -53.52 288.29
2015-09-30 419.96 -26.68 301.55
2015-06-30 404.76 -38.55 304.34
2015-03-31 591.27 134.11 310.58
2014-12-31 574.93 105.15 311.50
2014-09-30 637.91 168.33 298.62
2014-06-30 853.35 394.56 294.95
2014-03-31 673.73 227.80 285.80
2013-12-31 715.12 284.10 281.06
2013-09-30 610.40 172.77 279.46
2013-06-30 654.29 223.79 278.99

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Ta Ching Securities has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Ta Ching Securities used its assets less efficiently than the TW Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if Ta Ching Securities improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Ta Ching Securities's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Ta Ching Securities has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

6021 Health

 How is Ta Ching Securities's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Ta Ching Securities's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ta Ching Securities is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Ta Ching Securities's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Ta Ching Securities's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 13.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Ta Ching Securities Company Filings, last reported 3 months ago.

GTSM:6021 Past Debt and Equity Data
Date (Data in TWD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 4,642.01 476.20 1,951.09
2019-09-30 4,637.73 461.66 1,987.31
2019-06-30 4,645.91 308.09 2,150.75
2019-03-31 4,956.27 246.50 1,636.79
2018-12-31 4,957.55 299.37 2,071.43
2018-09-30 4,972.67 1,896.90 2,742.96
2018-06-30 4,885.05 2,093.97 1,654.36
2018-03-31 4,813.38 2,500.69 2,290.93
2017-12-31 4,677.67 2,140.84 1,233.69
2017-09-30 4,558.64 2,148.75 1,294.17
2017-06-30 4,463.15 1,861.16 1,033.38
2017-03-31 4,391.08 1,893.33 1,159.00
2016-12-31 4,330.82 1,464.64 1,044.02
2016-09-30 4,283.33 1,698.68 1,132.78
2016-06-30 4,245.75 1,790.54 1,113.91
2016-03-31 4,267.38 2,101.84 1,433.95
2015-12-31 4,353.15 2,357.63 1,574.57
2015-09-30 4,304.95 2,076.78 1,530.65
2015-06-30 4,493.34 3,112.23 2,148.19
2015-03-31 4,466.93 3,703.98 2,266.68
2014-12-31 4,440.97 3,643.95 2,230.11
2014-09-30 4,429.70 3,411.16 2,148.12
2014-06-30 4,567.02 3,377.93 2,480.72
2014-03-31 4,627.44 3,035.51 1,970.48
2013-12-31 4,617.72 3,148.36 2,103.36
2013-09-30 4,523.32 2,781.88 1,853.43
2013-06-30 4,455.28 2,713.66 1,667.87
  • Ta Ching Securities's level of debt (10.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (82.1% vs 10.3% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on Ta Ching Securities's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Ta Ching Securities's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Ta Ching Securities has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

6021 Dividends

 What is Ta Ching Securities's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
7.84%
Current annual income from Ta Ching Securities dividends.
If you bought NT$2,000 of Ta Ching Securities shares you are expected to receive NT$157 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Ta Ching Securities's pays a higher dividend yield than the bottom 25% of dividend payers in Taiwan, Province of China (3.22%).
  • Ta Ching Securities's dividend is above the markets top 25% of dividend payers in Taiwan, Province of China (6.88%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
GTSM:6021 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Taiwan, Province of China Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 5.6%
Taiwan, Province of China Market Average Dividend Yield Market Cap Weighted Average of 1329 Stocks 4.5%
Taiwan, Province of China Minimum Threshold Dividend Yield 10th Percentile 1.8%
Taiwan, Province of China Bottom 25% Dividend Yield 25th Percentile 3.2%
Taiwan, Province of China Top 25% Dividend Yield 75th Percentile 6.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

GTSM:6021 Past Annualized Dividends Data
Date (Data in NT$) Dividend per share (annual) Avg. Yield (%)
2019-05-15 1.000 8.009
2019-03-29 1.000 8.778
2019-03-28 1.000 9.009
2018-05-15 0.350 3.303
2018-03-31 0.350 3.431
2018-03-27 0.350 3.501
2016-03-29 0.000 0.000
2015-11-16 0.000 0.000
2015-11-10 0.000 0.000
2015-08-25 0.000 0.000
2015-05-15 0.000 0.000
2014-05-13 0.700 4.690
2014-03-25 0.700 4.559
2013-05-14 0.350 2.546
2013-03-25 0.000 0.000
2012-10-30 0.000 0.000
2012-08-27 0.000 0.000
2012-08-24 0.000 0.000
2012-04-27 0.000 0.000
2012-04-16 0.000 0.000
2012-03-26 0.000 0.000
2011-10-28 0.364 3.161
2011-08-15 0.364 2.971
2011-04-29 0.364 2.540
2009-04-15 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ta Ching Securities has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Ta Ching Securities only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Ta Ching Securities's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Ta Ching Securities's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Ta Ching Securities afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ta Ching Securities has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

6021 Management

 What is the CEO of Ta Ching Securities's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
  • Ta Ching Securities has no CEO, or we have no data on them.
Management Team
Board of Directors
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NT$) Value (NT$)
X
Management checks
We assess Ta Ching Securities's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Ta Ching Securities has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

6021 News

Simply Wall St News

6021 Company Info

Description

Ta Ching Securities Co., Ltd. provides securities services in Taiwan. The company engages in the general brokerage of market securities and self-financing securities, stock index futures, options, and foreign securities; and securities trading business. It is also involved in the provision securities underwriting and issuing, and financial advisory services; and futures business. In addition, the company offers bond buyout and selling services; and bond investment advisory services. Ta Ching Securities Co., Ltd. was founded in 1988 and is headquartered in Taipei, Taiwan.

Details
Name: Ta Ching Securities Co., Ltd.
6021
Exchange: GTSM
Founded: 1988
NT$3,911,138,668
306,755,974
Website: http://www.tcstock.com.tw
Address: Ta Ching Securities Co., Ltd.
Minsheng East Road,
4th Floor,
Taipei,
Taiwan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
GTSM 6021 Common Stock Taipei Exchange TW TWD 23. Apr 2003
Number of employees
Current staff
Staff numbers
348
Ta Ching Securities employees.
Industry
Investment Banking and Brokerage
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 16:07
End of day share price update: 2020/04/07 00:00
Last earnings filing: 2020/03/26
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.