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Taishin Financial Holding Co Ltd (2887) Fair Value & Analysis

Financial Services · TW · Market cap 884B TWD (≈ $27.8B) · ISIN TW0002887007

What is Taishin Financial Holding Co Ltd really worth?

TF Taishin Financial Holding Co Ltd 2887 · TW
Price41.45 TWD
Fair Value16.60 TWD
Upside−60.0%
Quality40/100

Below-average quality, and trading another 150% above our fair value of 16.60 TWD.

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Strengths

Healthy Growth (revenue 5y +42.0 %/yr)
Highly profitable · 43.5% net margin
Low debt · generates free cash flow
Wide moat 67/100

Risks

!Trails peers (5/15)

For context

·2.41% dividend yield
Evidence: High Range 12.45 TWD – 20.76 TWD

Fair value as of: Aug 19, 2026

From 6 valuation models · updated 16 days ago

Share price +17.4% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (20.76 TWD). The favourable scenario is already priced in.
  • Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

41.45 TWD 9.22 TWD Fair Value 16.60 TWD Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

60‑month range 9.22 TWD – 41.45 TWD · fair‑value band 12.45 TWD – 20.76 TWD · the 41.45 TWD price screens above the 16.60 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

Taishin Financial Holding Co Ltd (2887) currently trades at 41.45 TWD, while our model-based Fair Value estimate is 16.60 TWD, implying the stock looks roughly 149.7% overvalued today. The Quality Score stands at 40/100 (below-average quality), in the Financial Services sector. Bull case: the Multiples group reads highest at a median of 19.53 TWD per share, and 0 of the 6 models we run sit above the 41.45 TWD price. Bear case: the Asset-Based group reads lowest at 13.03 TWD, and 6 of the 6 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Taishin Financial Holding Co Ltd generated revenue of 130B TWD at a net margin of 43.5%. Revenue grew 274.7% year over year. It earns a return on equity of 13.6%. Net debt stands at 228B TWD. Fundamentals as of Aug 19, 2026

Our scenario range runs from 12.45 TWD (bear case) to 20.76 TWD (bull case); at 41.45 TWD, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 178% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −10% fair-value upside, at −60%, 2887 screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 0.6158 TWD per share, which is 3.7 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income best evidence 16.45 TWD 17.69 TWD 20.39 TWD 76
DDM Multi-Stage 9.42 TWD 16.85 TWD 21.44 TWD 66
Gordon GGM 9.42 TWD 20.57 TWD 34.61 TWD 65
All 6 models by family
Dividend Discount
Gordon GGM 9.42 TWD 20.57 TWD 34.61 TWD 65
DDM Multi-Stage 9.42 TWD 16.85 TWD 21.44 TWD 66
Multiples
P/E Multiple 14.65 TWD 19.53 TWD 24.42 TWD 63
P/B Multiple 19.16 TWD 25.54 TWD 31.93 TWD 55
Asset-Based
NCAV (Graham) 9.72 TWD 13.03 TWD 19.45 TWD 54
Economic Profit
Residual Income best evidence 16.45 TWD 17.69 TWD 20.39 TWD 76

Widest divergence: Multiples (19.53 TWD) versus Asset-Based (13.03 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 21.7
P/S ratio 2.56 P/E × margin
EPS (TTM) 1.91 TWD price ÷ EPS = P/E 21.7
Dividend yield 2.4% payout 52.4%
Net margin 11.8% FY2025
Return on equity 13.6% TTM
More key figures
Profitability
Return on assets (EBIT) 0.7% avg 5y
Operating margin 58.8% TTM
Growth
Revenue (TTM) 130B TWD TTM
Revenue growth (YoY) +275% 3y avg +55.8%
EPS growth (YoY) +646%
Balance sheet & cash flow
Free cash flow 128B TWD FY2025
Net debt 228B TWD FY2025 · ≈ 1.8 yrs of FCF

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 40/100

Of which business quality 39 · Market factors (momentum, volatility) 95

Profitability 24
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 7
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

TS Financial Holding Co., Ltd., together with its subsidiaries, provides various financial products and services. It offers wealth management services, such as financial consulting, tax planning, trust, asset allocation advisory services, TWD and FCY deposits, investment, and insurance products; consumer lending services, including 1st and 2nd lien …

Full company description

TS Financial Holding Co., Ltd., together with its subsidiaries, provides various financial products and services. It offers wealth management services, such as financial consulting, tax planning, trust, asset allocation advisory services, TWD and FCY deposits, investment, and insurance products; consumer lending services, including 1st and 2nd lien mortgage, auto loan, personal loan, micro SME loans, and credit cards; and e-payment services. The company also provides digital, internet, and mobile banking services; mobile payment services; ATM services; exchange rate, interest rate, stock, bond, commodity, and gold account; funding, underwriting, and bond management services for onshore/offshore bond issuers; and brokerage, proprietary trading, underwriting, concurrent operation of futures and the design, issuance, trading, hedging of derivatives. In addition, it offers financial advisory services, risk management, facilities and financing, short-term bill trading, and bond issuance to corporations, government departments and financial institutions; and corporate restructuring, reorganization, mergers, acquisitions and financial planning or other consulting services. Further, the company provides money market, fixed income, domestic equity, global equity, fund of funds, and ETFs; and insurance products comprising of life insurance, retirement planning, asset accumulation, health, and accidental injuries. The company was formerly known as Taishin Financial Holding Co., Ltd. and changed its name to TS Financial Holding Co., Ltd. in July 2025. The company was founded in 1992 and is based in Taipei, Taiwan.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Taishin Financial Holding Co Ltd reported revenue of 316B TWD in FY2025 versus 66.4B TWD in FY2021, a compound +47.7%/yr. Reported net income was 37.4B TWD in FY2025, compounding +16.5%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
316B TWD
Latest YoY
+128.1%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+55.8%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+42.0%
Avg. revenue growth/yr (23Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+9.1%
Value creation/yr (5Y, in TWD) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in TWD: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+13.7% (11.3 + 2.4)
Revenue +47.7%/yr
FY21 66.4B TWD
FY22 83.6B TWD
FY23 114B TWD
FY24 139B TWD
FY25 316B TWD
Net income +16.5%/yr
FY21 20.3B TWD
FY22 14.9B TWD
FY23 14.6B TWD
FY24 20.1B TWD
FY25 37.4B TWD
Character of growth · EPS growth decomposed (2014-2025) +9.7 % p.a.
Revenue per share +12.3 %

of which total revenue +14.5 % · buybacks/dilution −1.9 %

EBIT margin −5.6 %
Tax rate +1.0 %
Residual (interest, one-offs) +2.4 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

2887 screens 150% overvalued. Compare with DBS Group →

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Cite: Fair Value Calculator (2026). "Taishin Financial Holding Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2887

Peer Group

Banks - Regional · 1071 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 38 · Bottom 25%
Fair Value upside −60% · Bottom 25%
Return on equity (TTM) 14% · Top 25%
Return on assets 1% · Below median
Net margin (TTM) 44% · Top 25%
Operating margin (TTM) 59% · Top 25%
Revenue growth 275% · Top 25%
Dividend yield (TTM) 2.4% · Below median
Debt / equity 0.45× · Higher than median

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 21.7× · Pricier than 75% of peers
P/B 1.83× · Pricier than 75% of peers
P/S (TTM) 6.82× · Pricier than 75% of peers
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 20.7× · Pricier than 75% of peers
PEG 2.59× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 33
FUTURE100 · sector 45
PAST55 · sector 41
HEALTH77 · sector 85
DIVIDEND48 · sector 51

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
DBS Group D05 75.65 SGD 40.48 SGD −46%
China Merchants Bank Co 3968 HK$47.96 HK$76.51 +60%
Intesa Sanpaolo S.p.A ISP €6.78 €5.66 −17%
HDFC Bank Limited HDB $23.17 $24.12 +4%
BNP Paribas SA BNP €102.56 €144.64 +41%
UniCredit S.p.A UCG €84.71 €77.62 −8%
Mizuho Financial Group MFG $10.74 $9.69 −10%
ICICI Bank Limited ICICIBANK ₹1,443 ₹835.21 −42%
Oversea-Chinese Banking Corporation O39 31.07 SGD 19.80 SGD −36%
CaixaBank, S.A CABK €13.52 €8.85 −35%

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Frequently asked questions

Is Taishin Financial Holding Co Ltd (2887) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of 16.60 TWD versus a price of 41.45 TWD, about −60% upside (overvalued).
What is the fair value of 2887?
Our model-based fair value for Taishin Financial Holding Co Ltd is 16.60 TWD (as of Aug 19, 2026), built from audited fundamentals. The current price: 41.45 TWD.
What is the quality score of 2887?
Taishin Financial Holding Co Ltd has a Quality Score of 40/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Taishin Financial Holding Co Ltd (2887)?
Taishin Financial Holding Co Ltd reported trailing-twelve-month revenue of about 130B TWD (latest available figure, as of Aug 19, 2026).
What is the net profit margin of 2887?
The net profit margin of Taishin Financial Holding Co Ltd is about 43.5%, meaning it keeps roughly 43.5% of revenue as net income. Based on the latest reported figures.
Does Taishin Financial Holding Co Ltd pay a dividend?
Taishin Financial Holding Co Ltd currently shows a dividend yield of about 2.41% relative to its recent price (as of Aug 19, 2026).
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