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Grand Fortune SecuritiesLtd

GTSM:6026
Snowflake Description

Undervalued with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
6026
GTSM
NT$2B
Market Cap
  1. Home
  2. TW
  3. Diversified Financials
Company description

Grand Fortune Securities Co.,Ltd provides securities trading and underwriting services in Taiwan. The last earnings update was 40 days ago. More info.


Add to Portfolio Compare Print
  • Grand Fortune SecuritiesLtd has significant price volatility in the past 3 months.
6026 Share Price and Events
7 Day Returns
-0.5%
GTSM:6026
0.1%
TW Capital Markets
2%
TW Market
1 Year Returns
-11.7%
GTSM:6026
-5.6%
TW Capital Markets
-10.1%
TW Market
6026 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Grand Fortune SecuritiesLtd (6026) -0.5% -14.5% -19.4% -11.7% -20.4% -36.8%
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
  • 6026 underperformed the Capital Markets industry which returned -5.6% over the past year.
  • 6026 underperformed the Market in Taiwan, Province of China which returned -10.1% over the past year.
Price Volatility
6026
Industry
5yr Volatility vs Market

6026 Value

 Is Grand Fortune SecuritiesLtd 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 Grand Fortune SecuritiesLtd 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 Grand Fortune SecuritiesLtd.

GTSM:6026 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$12.26 * 7.8%
NT$0.96
Book Value of Equity per Share Median Book Value from the past 5 years. NT$12.26
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:6026
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%) (65.57%))
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:6026 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Grand Fortune SecuritiesLtd 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:6026 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (7.8% – 7.69%) * NT$12.26)
NT$0.02
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= NT$0.02 / (7.69% - 0.71%)
NT$0.27
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= NT$12.26 + NT$0.27
NT$12.53
GTSM:6026 Discount to Share Price
Calculation Result
Value per share (TWD) From above. NT$12.53
Current discount Discount to share price of NT$7.48
= -1 x (NT$7.48 - NT$12.53) / NT$12.53
40.3%

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

Current Discount
Amount off the current price Grand Fortune SecuritiesLtd is available for.
Intrinsic value
40%
Share price is NT$7.48 vs Future cash flow value of NT$12.53
Current Discount Checks
For Grand Fortune SecuritiesLtd to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Grand Fortune SecuritiesLtd's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Grand Fortune SecuritiesLtd's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Grand Fortune SecuritiesLtd's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Grand Fortune SecuritiesLtd's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
GTSM:6026 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in TWD NT$1.00
GTSM:6026 Share Price ** GTSM (2020-04-07) in TWD NT$7.48
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 Grand Fortune SecuritiesLtd.

GTSM:6026 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= GTSM:6026 Share Price ÷ EPS (both in TWD)

= 7.48 ÷ 1.00

7.46x

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

  • Grand Fortune SecuritiesLtd is good value based on earnings compared to the TW Capital Markets industry average.
  • Grand Fortune SecuritiesLtd is good value based on earnings compared to the Taiwan, Province of China market.
Price based on expected Growth
Does Grand Fortune SecuritiesLtd's expected growth come at a high price?
Raw Data
GTSM:6026 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.46x
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 Grand Fortune SecuritiesLtd, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Grand Fortune SecuritiesLtd's assets?
Raw Data
GTSM:6026 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in TWD NT$12.73
GTSM:6026 Share Price * GTSM (2020-04-07) in TWD NT$7.48
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:6026 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= GTSM:6026 Share Price ÷ Book Value per Share (both in TWD)

= 7.48 ÷ 12.73

0.59x

* Primary Listing of Grand Fortune SecuritiesLtd.

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

  • Grand Fortune SecuritiesLtd is good value based on assets compared to the TW Capital Markets industry average.
X
Value checks
We assess Grand Fortune SecuritiesLtd'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. Grand Fortune SecuritiesLtd has a total score of 5/6, 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.

6026 Future Performance

 How is Grand Fortune SecuritiesLtd 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 Grand Fortune SecuritiesLtd 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 Grand Fortune SecuritiesLtd expected to grow at an attractive rate?
  • Unable to compare Grand Fortune SecuritiesLtd's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Grand Fortune SecuritiesLtd's earnings growth to the Taiwan, Province of China market average as no estimate data is available.
  • Unable to compare Grand Fortune SecuritiesLtd's revenue growth to the Taiwan, Province of China market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
GTSM:6026 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:6026 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:6026 Past Financials Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income *
2019-12-31 626 36 244
2019-09-30 436 409 106
2019-06-30 314 432 26
2019-03-31 368 591 50
2018-12-31 372 286 37
2018-09-30 650 119 228
2018-06-30 831 373 355
2018-03-31 972 264 462
2017-12-31 969 662 483
2017-09-30 772 652 356
2017-06-30 714 -34 323
2017-03-31 501 164 176

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Grand Fortune SecuritiesLtd is high growth as no earnings estimate data is available.
  • Unable to determine if Grand Fortune SecuritiesLtd 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:6026 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 Grand Fortune SecuritiesLtd Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

GTSM:6026 Past Financials Data
Date (Data in TWD Millions) EPS *
2019-12-31 1.00
2019-09-30 0.43
2019-06-30 0.11
2019-03-31 0.21
2018-12-31 0.15
2018-09-30 0.94
2018-06-30 1.47
2018-03-31 1.91
2017-12-31 2.00
2017-09-30 1.47
2017-06-30 1.34
2017-03-31 0.73

*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 Grand Fortune SecuritiesLtd will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Grand Fortune SecuritiesLtd is trading at Grand Fortune SecuritiesLtd'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Grand Fortune SecuritiesLtd'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 Grand Fortune SecuritiesLtd'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.
Grand Fortune SecuritiesLtd 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.

6026 Past Performance

  How has Grand Fortune SecuritiesLtd 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 Grand Fortune SecuritiesLtd'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.
  • Grand Fortune SecuritiesLtd's year on year earnings growth rate has been positive over the past 5 years.
  • Grand Fortune SecuritiesLtd's 1-year earnings growth exceeds its 5-year average (555.4% vs 0.6%)
  • Grand Fortune SecuritiesLtd's earnings growth has exceeded the TW Capital Markets industry average in the past year (555.4% vs 3.4%).
Earnings and Revenue History
Grand Fortune SecuritiesLtd'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 Grand Fortune SecuritiesLtd Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

GTSM:6026 Past Revenue, Cash Flow and Net Income Data
Date (Data in TWD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 625.97 244.35 246.46
2019-09-30 436.05 105.52 214.44
2019-06-30 314.45 26.00 204.84
2019-03-31 367.79 50.31 216.56
2018-12-31 372.43 37.28 237.34
2018-09-30 649.98 227.95 236.63
2018-06-30 830.53 355.14 250.14
2018-03-31 971.88 462.50 269.56
2017-12-31 969.29 483.41 259.55
2017-09-30 771.54 355.60 248.29
2017-06-30 714.38 323.14 233.38
2017-03-31 501.13 176.24 197.43
2016-12-31 404.39 120.87 174.43
2016-09-30 563.66 321.20 183.96
2016-06-30 267.72 62.85 159.16
2016-03-31 307.19 99.88 154.08
2015-12-31 361.30 133.05 161.46
2015-09-30 183.85 -81.28 150.84
2015-06-30 415.99 143.40 137.97
2015-03-31 487.66 196.87 162.95
2014-12-31 732.08 393.37 225.60
2014-09-30 822.39 493.94 220.97
2014-06-30 827.20 507.14 240.04
2014-03-31 750.00 452.38 227.20
2013-12-31 431.13 200.82 158.58
2013-09-30 385.24 159.60 152.79
2013-06-30 339.35 118.38 147.00

*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.
  • Grand Fortune SecuritiesLtd has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Grand Fortune SecuritiesLtd used its assets more efficiently than the TW Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if Grand Fortune SecuritiesLtd 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 Grand Fortune SecuritiesLtd'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.
Grand Fortune SecuritiesLtd has a total score of 4/6, 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.

6026 Health

 How is Grand Fortune SecuritiesLtd'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 Grand Fortune SecuritiesLtd's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Grand Fortune SecuritiesLtd is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Grand Fortune SecuritiesLtd's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Grand Fortune SecuritiesLtd'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 3.9x 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 Grand Fortune SecuritiesLtd Company Filings, last reported 3 months ago.

GTSM:6026 Past Debt and Equity Data
Date (Data in TWD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 3,443.67 1,172.04 3,208.02
2019-09-30 3,432.92 1,221.26 3,342.32
2019-06-30 3,330.96 1,370.73 3,488.02
2019-03-31 3,394.25 949.76 3,079.30
2018-12-31 3,287.99 800.30 2,968.63
2018-09-30 3,376.49 750.38 2,860.88
2018-06-30 3,358.01 1,248.16 3,456.25
2018-03-31 3,677.16 1,260.47 3,755.18
2017-12-31 3,551.71 152.39 2,457.20
2017-09-30 3,436.16 549.56 2,140.33
2017-06-30 3,305.62 982.20 2,492.83
2017-03-31 3,231.30 2,201.86 4,105.28
2016-12-31 3,116.80 48.24 1,978.04
2016-09-30 3,122.47 0.00 1,994.64
2016-06-30 3,019.98 958.94 3,161.22
2016-03-31 2,743.38 1,005.70 2,477.70
2015-12-31 2,583.99 358.35 2,085.18
2015-09-30 2,392.30 645.13 2,600.69
2015-06-30 2,555.61 1,668.75 3,714.51
2015-03-31 2,643.48 1,766.32 3,812.92
2014-12-31 2,562.58 1,561.95 3,510.05
2014-09-30
2014-06-30 2,225.98 1,480.64 3,291.35
2014-03-31 1,867.98 990.99 2,205.52
2013-12-31 1,867.98 990.99 2,205.52
2013-09-30 1,867.98 990.99 2,205.52
2013-06-30 1,718.64 590.41 1,436.37
  • Grand Fortune SecuritiesLtd's level of debt (34%) 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 (61% vs 34% today).
  • Debt is not well covered by operating cash flow (3.1%, less than 20% of total debt).
  • Unable to confirm if the interest payments on Grand Fortune SecuritiesLtd's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Grand Fortune SecuritiesLtd'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. Grand Fortune SecuritiesLtd 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.

6026 Dividends

 What is Grand Fortune SecuritiesLtd'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
2.67%
Current annual income from Grand Fortune SecuritiesLtd dividends.
If you bought NT$2,000 of Grand Fortune SecuritiesLtd shares you are expected to receive NT$53 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?
  • Grand Fortune SecuritiesLtd's pays a lower dividend yield than the bottom 25% of dividend payers in Taiwan, Province of China (3.22%).
  • Grand Fortune SecuritiesLtd's dividend is below 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:6026 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:6026 Past Annualized Dividends Data
Date (Data in NT$) Dividend per share (annual) Avg. Yield (%)
2019-05-15 0.200 2.320
2019-03-18 0.200 2.340
2019-03-08 0.200 2.340
2018-05-15 1.380 14.191
2018-03-14 1.380 9.065
2017-05-15 0.350 3.005
2017-03-31 0.350 3.851
2017-03-22 0.350 3.584
2016-03-30 0.300 3.692
2015-05-07 0.500 5.178
2015-04-29 0.500 4.252
2015-03-27 0.500 4.227
2015-03-25 0.500 4.259

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

  • Grand Fortune SecuritiesLtd has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Grand Fortune SecuritiesLtd has only been paying a dividend for 5 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Grand Fortune SecuritiesLtd's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (5x 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 Grand Fortune SecuritiesLtd'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 Grand Fortune SecuritiesLtd afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Grand Fortune SecuritiesLtd has a total score of 1/6, see the detailed checks below.


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

6026 Management

 What is the CEO of Grand Fortune SecuritiesLtd'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.
  • Grand Fortune SecuritiesLtd 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 Grand Fortune SecuritiesLtd'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. Grand Fortune SecuritiesLtd 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.

6026 News

Simply Wall St News

6026 Company Info

Description

Grand Fortune Securities Co.,Ltd provides securities trading and underwriting services in Taiwan. The company was founded in 1989 and is headquartered in Taipei City, Taiwan. Grand Fortune Securities Co., Ltd. is a subsidiary of Hua Yu Lien Development Co., Ltd.

Details
Name: Grand Fortune Securities Co.,Ltd
6026
Exchange: GTSM
Founded: 1989
NT$1,833,759,400
245,155,000
Website: http://www.gfortune.com.tw
Address: Grand Fortune Securities Co.,Ltd
No.6, Zhongxiao West Road,
5-7th Floor,
Taipei City,
Taiwan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
GTSM 6026 Common Stock Taipei Exchange TW TWD 30. Sep 2014
Number of employees
Current staff
Staff numbers
0
Grand Fortune SecuritiesLtd employees.
Industry
Investment Banking and Brokerage
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 16:47
End of day share price update: 2020/04/07 00:00
Last earnings filing: 2020/02/27
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.