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Security services company in Taiwan, a joint venture with Japan's Secom, providing alarm monitoring and guarding.
Security services company in Taiwan, a joint venture with Japan's Secom, providing alarm monitoring and guarding.
Customers pay monthly fees for alarm monitoring and guard services, giving recurring income from a large base of monitored sites, while installing security systems brings one-off project revenue. Japan's Secom is its partner, bringing technology and the brand.
In one line: Taiwan's ADT for alarm monitoring.
Moat: narrow (installed base, brand, distribution). Large installed base of monitored sites and the trusted Secom brand support recurring subscription revenue.
Headquarters: Taipei, Taiwan · Employees: 9,191
Size Taiwan Secom (9917.TW) is a Taiwan Industrials company (Miscellaneous Commercial Services) with a market value of $1.47B, the 206th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$105.00 on 6 Nov 2026.
Performance Over six months the shares fell 8.3%, against -9.5% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 2.7% over the last twelve months (peer median +2.9%); the operating margin is 16.4% (peer median 8.0%).
Valuation It trades at 14.2× forward earnings against a peer median of 17.1× (7th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -9 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 10.7 points above its cost of capital (5.0% WACC).
Next results Next results expected around 16 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$19.1B | NT$19.0B | NT$17.9B | NT$17.1B | NT$15.4B |
| Revenue growth | — | +6% | +5% | +11% | — |
| Gross profit | NT$5.85B | NT$5.79B | NT$5.49B | NT$5.27B | NT$4.78B |
| EBITDA | NT$5.10B | NT$5.00B | NT$4.62B | NT$4.27B | NT$3.98B |
| Net income | NT$3.05B | NT$3.01B | NT$2.85B | NT$2.59B | NT$2.58B |
| Free cash flow | NT$3.23B | NT$3.20B | NT$2.34B | NT$2.14B | NT$1.89B |
| Capital expenditure | NT$1.61B | NT$2.15B | NT$1.53B | NT$1.78B | NT$1.40B |
| Total debt | NT$8.42B | NT$8.88B | NT$7.72B | NT$6.46B | NT$6.24B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Taiwan Secom 9917.TW | $1.47B | -8% | +3% | 16% | 14.2× | -2.3% |
| Secom 9735.T | $18.8B | +16% | +4% | 13% | 22.7× | -0.3% |
| ADT ADT | $6.66B | +44% | +2% | 25% | 10.3× | -2.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 9917.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.4% | -7.7% | 10th highest of 21 |
| 6-month return | -8.3% | -9.5% | 11th highest of 21 |
| Distance from 52-week high | -14.6% | -37.5% | 3rd highest of 21 |
| Revenue growth (TTM) | +2.7% | +2.9% | 11th highest of 21 |
| Operating margin | 16.4% | 8.0% | 3rd highest of 21 |
| Forward P/E | 14.2× | 17.1× | 7th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -2.3% | 9.1% | 4th least demanding of 17 |
| Growth delivered (Del g) | +6.7% | +9.0% | 8th lowest of 17 |
| Hurdle (Req g minus delivered) | -9.0 pp | -4.9 pp | 7th least demanding of 17 |
| ROIC minus cost of capital | +10.7 pp | -0.8 pp | 2nd highest of 19 |
| EV / EBITDA | 10.1× | 8.4× | 3rd most expensive of 9 |
| Net debt / EBITDA | 0.4× | 1.9× | 3rd least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Taiwan Secom 9917.TW | Taiwan | $1.47B | -8% | +3% | 16% | 14.2× | -2.3% | +6.7% |
| Shanghai Medicilon 688202.SS | China | $1.47B | +18% | +42% | -2% | 91.8× | n/a | n/a |
| Suzhou Recodeal Interconnect System 688800.SS | China | $1.47B | -55% | +5% | 9% | 28.7× | 26.1% | +38.9% |
| Shenzhen Ampron Technology 301413.SZ | China | $1.48B | -7% | +11% | 2% | 423.6× | n/a | n/a |
| Shanghai Foreign Service 600662.SS | China | $1.49B | -14% | +1% | 2% | 13.8× | -20.6% | +1.9% |
| Clarivate CLVT | United States | $1.50B | -16% | -9% | 8% | 3.8× | 13.4% | +14.4% |
| Foxtron Vehicle Technologies 2258.TW | Taiwan | $1.50B | +1% | -50% | -132% | n/a | n/a | n/a |
| AFRY AFRY.ST | Sweden | $1.50B | +17% | -4% | 7% | 12.7× | -2.2% | +6.3% |
| ICF International ICFI | United States | $1.43B | +14% | -8% | 8% | 10.8× | -2.2% | +4.4% |
| Derichebourg DBG.PA | France | $1.42B | -24% | -3% | 5% | 8.9× | 6.8% | +6.3% |
| Moltiply MOL.MI | Italy | $1.53B | +6% | +32% | 15% | 14.6× | 10.8% | +21.0% |
| China National Electric Apparatus Research Institute 688128.SS | China | $1.42B | -12% | +8% | 11% | 15.5× | 4.0% | +13.5% |
| Yangzhou Tinfulong 603406.SS | China | $1.53B | -25% | -4% | 12% | n/a | 7.5% | +10.6% |
| Siglent Technologies 688112.SS | China | $1.41B | -5% | +30% | 24% | 46.2× | 31.3% | +22.0% |
| Concord Biotech CONCORDBIO.NS | India | $1.40B | +2% | +4% | 28% | 38.2× | 47.1% | +11.6% |
| AEM AWX.SI | Singapore | $1.55B | -18% | +15% | 11% | 23.4× | 15.4% | -5.1% |
| Wintech Nano (Suzhou) 688757.SS | China | $1.39B | -18% | +23% | 7% | n/a | n/a | n/a |
| China Security 600654.SS | China | $1.39B | -31% | -30% | -1% | n/a | 56.7% | +0.4% |
| Offcn Education Technology 002607.SZ | China | $1.56B | -36% | -2% | 13% | 38.8× | 17.7% | -27.6% |
| MEITEC 9744.T | Japan | $1.57B | +3% | +2% | 14% | 18.7× | -4.6% | +7.3% |
| SBS 2384.T | Japan | $1.38B | +32% | +22% | 6% | 14.1× | -8.2% | +13.8% |