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O-Bank Co Ltd (2897) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of O-Bank Co Ltd stock TWD 11.29, price TWD 10.50, upside +7.5%, quality 32 out of 100. Rating: fairly valued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.

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Financial Services TW · ISIN TW0002897006

OB O-Bank Co Ltd logo Thin data Nov 7, 2026

O-Bank Co Ltd

2897 · TW
Fairly valued, weak quality

The stock costs about what our calculation considers fair.

Highly profitable · 23.0% net margin (TTM)
5.0% dividend yield · Sustainable
Last quarter vs. a year ago: revenue +29%, profit +100%.
Fair value 11.29 TWD · Fairly valued (+7.5%)
Mixed Growth (revenue 5y +15.0 %/yr in TWD)
Moderate moat 60/100 · thin data
Quality 32/100
Trails peers (5/14)
Thin data
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What runs behind every stock

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

Price vs Fair Value

11.25 TWD 6.23 TWD Fair Value 11.29 TWD Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.

How to read this chart

60‑month range 6.23 TWD – 11.25 TWD · fair‑value band 11.23 TWD – 15.28 TWD · the 10.50 TWD price screens below the 11.29 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.

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Company profile

O-Bank Co., Ltd. provides various banking services to corporate clients in Taiwan.

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It offers deposits, insurance, wealth management, debit card and digital banking services, as well as involved in Investment Business, which includes fixed income trading and investment, financial product marketing, securities, and private equity investment.

The company also provides short and long term financing for working capitals, guarantees, syndications, and factoring services; general trade finance services, cross-strait banking, and forfaiting services; foreign exchange deposit; export and import finance, and financial advisory services; and trust and Escrow services.

In addition, it offers cash management services, such as corporate internet banking, payables management, and receivable management services; interest rate products, including interest rate swaps; forward contracts and currency options services; and structured products.

The company was formerly known as Industrial Bank of Taiwan Co., Ltd. and changed its name to O-Bank Co., Ltd. in January 2017. O-Bank Co., Ltd. was incorporated in 1998 and is headquartered in Taipei City, Taiwan.

Stock analysis

O-Bank Co Ltd (2897) currently trades at 10.50 TWD, while our model-based Fair Value estimate is 11.29 TWD, so the stock looks roughly fairly valued today (gap 7.0%).

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Valuation

Bull case: the Multiples group reads highest at a median of 14.97 TWD per share, and 2 of the 6 models we run sit above the 10.50 TWD price.

Bear case: the Dividend Discount group reads lowest at 4.61 TWD, and 4 of the 6 models stay below the price. Data coverage for this calculation is low.

Scenario range: 11.23 TWD (bear) to 15.28 TWD (bull), the price of 10.50 TWD sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 32/100 (below-average quality), in the Financial Services sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

O-Bank Co Ltd reported revenue of 23.6B TWD in FY2025 versus 11.2B TWD in FY2021, a compound +20.5%/yr. Reported net income was 1.8B TWD in FY2025, compounding −0.1%/yr from FY2021.

Key figures

Market cap 57.1B TWD (≈ $1.7B) Small · P/E ratio 16.4 · P/S ratio 1.27 · EPS (TTM) 0.6400 TWD · Dividend yield 5.0% · Net margin 7.8% · Return on equity 6.4% · Return on assets (EBIT) 0.8% (5-year average).

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 60 out of 100 (low confidence).

What moves the price

The share trades about 7% below its 52-week high and 17% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at 8%, 2897 screens cheaper than that median.

Fair Value models

Bear 11.23 TWD Fair Value 11.29 TWD Bull 15.28 TWD
Price 10.50 TWD · Upside +7.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.1026 TWD per share) are deliberately not added. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual Income 11.46 TWD 11.29 TWD 11.61 TWD 76
Gordon GGM 2.59 TWD 4.87 TWD 6.96 TWD 67
DDM Multi-Stage 2.59 TWD 4.35 TWD 5.18 TWD 67
All 6 models by family
Dividend Discount
Gordon GGM 2.59 TWD 4.87 TWD 6.96 TWD 67
DDM Multi-Stage 2.59 TWD 4.35 TWD 5.18 TWD 67
Multiples
P/E Multiple 6.41 TWD 8.55 TWD 10.69 TWD 63
P/B Multiple 16.04 TWD 21.39 TWD 26.74 TWD 55
Asset-Based
NCAV (Graham) 7.64 TWD 10.24 TWD 15.28 TWD 53
Economic Profit
Residual Income 11.46 TWD 11.29 TWD 11.61 TWD 76

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Quality Score breakdown

Overall quality 32/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 18
How much profit the company makes from its sales and capital
Quality Growth 41
Are margins and returns getting better?
Cashflow 28
Do the profits arrive as real cash?
Financial strength 7
Debt, balance sheet and risk of trouble
Investment 79
Does it invest with discipline instead of growing at any price?
Low Volatility 100
How calm the share price moves, does not count
Price momentum 49
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 59
Distance to the 52-week high, does not count
New shares 14
Buys back shares or issues new ones?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 75/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−3.3%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+20.9%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+15.0%
Start year 2020 (pandemic). Over 10 years: +8.9% a year
Revenue growth 21 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+8.6%
What shareholders gained per year (last 5 years), in TWD ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. 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.
+0.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.6%
Dividend (yield on the price)5.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−4.6% vs −6.8%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.26% → 18%
Pace: the 5-year rate starts in 2020 (pandemic)

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Peer Groupⓘ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.Banks - Regional · 998 stocks

Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score 32 · Bottom 25%
Fair Value upside +7.5% · Top 25%
Profitability
Return on equity (12 months) 6.4% · Bottom 25%
Return on assets 0.5% · Bottom 25%
Net margin (12 months) 39.5% · Top 25%
Operating margin (12 months) 54.8% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) 29.3% · Top 25%
Dividend yield (12 months) 5.0% · Top 25%
Balance sheet
Debt / equity 0.72× · Above median

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/E (12 months) 16.4× · Priciest 25%
P/B 1.29× · Pricier than median
P/S (12 months) 9.26× · Priciest 25%
Price / free cash flow (fiscal year) 125.7× · Priciest 25%
EV/EBITDA 25.4× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)43 · sector 8
FUTURE (revenue growth)100 · sector 47
PAST (return on equity)26 · sector 43
HEALTH (low debt)–
DIVIDEND (yield)99 · sector 53

HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.

Context: sector, industry, market

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.

Stock Price Fair Value vs Fair Value Compare
Postal Savings Bank of China Co 601658 ¥5.53 ¥7.59 +37% vs 2897
China Merchants Bank Co 600036 ¥42.88 ¥52.73 +23% vs 2897
BNP Paribas SA BNP €91.93 €106.01 +15% vs 2897
Intesa Sanpaolo S.p.A ISP €6.18 €4.49 −27% vs 2897
State Bank of India SBIN ₹1,019 ₹736.65 −28% vs 2897
UniCredit S.p.A UCG €76.80 €50.44 −34% vs 2897
Mizuho Financial Group MFG $9.40 $5.90 −37% vs 2897
DBS Group D05 69.72 SGD 40.39 SGD −42% vs 2897
HDFC Bank Limited HDFCBANK ₹788.25 ₹406.39 −48% vs 2897
ICICI Bank Limited ICICIBANK ₹1,571 ₹615.63 −61% vs 2897

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O-Bank Co Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "O-Bank Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2897

Frequently asked questions

Is O-Bank Co Ltd (2897) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 11.29 TWD versus a price of 10.50 TWD, about +8% upside (fairly valued).
What is the fair value of 2897?
Our model-based fair value for O-Bank Co Ltd is 11.29 TWD (as of Nov 7, 2026), built from audited fundamentals. The current price: 10.50 TWD.
What is the quality score of 2897?
O-Bank Co Ltd has a Quality Score of 32/100. 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 price target for O-Bank Co Ltd (2897)?
Our model-based price target is the fair value of 11.29 TWD (as of Nov 7, 2026) from 6 valuation models. Cautious scenario 11.23 TWD, optimistic scenario 15.28 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the O-Bank Co Ltd stock forecast for 2026?
Our models put fair value at 11.29 TWD, about +8% upside versus a price of 10.50 TWD (fairly valued). Cautious scenario 11.23 TWD, optimistic scenario 15.28 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of O-Bank Co Ltd (2897)?
O-Bank Co Ltd reported trailing-twelve-month revenue of about 10.6B TWD (latest available figure, as of Nov 7, 2026).
Does O-Bank Co Ltd pay a dividend?
O-Bank Co Ltd currently shows a dividend yield of 4.95% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of O-Bank Co Ltd (2897) and when is the ex-dividend date?
O-Bank Co Ltd pays a dividend of 0.52 TWD per share a year, a dividend yield of 5.0%. The last ex-dividend date was Jul 23, 2026. The payout ratio is 81.3% of earnings. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What is the intrinsic value of O-Bank Co Ltd (2897)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For O-Bank Co Ltd it is 11.29 TWD per share (as of Nov 7, 2026), against a price of 10.50 TWD. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is O-Bank Co Ltd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 2897 trades below its calculated fair value: price 10.50 TWD, fair value 11.29 TWD, a gap of about +8% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 2897?
No. The price is what the market pays today (10.50 TWD); the fair value is what the company's own numbers justify (11.29 TWD). For O-Bank Co Ltd the two are 0.7900 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is O-Bank Co Ltd worth?
The market values O-Bank Co Ltd at about 57.1B TWD (market capitalisation, as of Nov 7, 2026). Per share that is 10.50 TWD; our models calculate a fair value of 11.29 TWD per share.
What do the bullish and bearish scenarios say about 2897?
Our models span a range for O-Bank Co Ltd: cautious scenario 11.23 TWD, base 11.29 TWD, optimistic 15.28 TWD per share (as of Nov 7, 2026, price 10.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2897?
O-Bank Co Ltd trades at a price-to-earnings ratio of 16.4 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 11.29 TWD is built from several models across several years. Other multiples: P/B 1.3, P/S 9.3, EV/EBITDA 25.4.
How solid is the balance sheet of O-Bank Co Ltd (2897)?
Balance-sheet figures for O-Bank Co Ltd (as of Nov 7, 2026): return on equity 6.4%, debt of 0.72 per unit of equity. They feed the Quality Score of 32/100, which measures business quality independently of the share price.
How far is 2897 from its 52-week high?
O-Bank Co Ltd trades at 10.50 TWD, about 7% below its 52-week high of 11.25 TWD and 17% above the low of 8.98 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 11.29 TWD is for.
Which stocks are comparable to O-Bank Co Ltd?
From the same area (Financial Services) we also value China Merchants Bank Co, DBS Group, UniCredit S.p.A, Mizuho Financial Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is O-Bank Co Ltd stock attractive at the current price?
The data as of Nov 7, 2026: price 10.50 TWD, calculated fair value 11.29 TWD (+8%), Quality Score 32/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 2897 calculated?
We run O-Bank Co Ltd through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of 11.29 TWD builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. O-Bank Co Ltd currently trades 7% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of O-Bank Co Ltd (2897)?
The closing price on Nov 6, 2026 was 10.50 TWD. Our model-based fair value is 11.29 TWD, about +8% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with O-Bank Co Ltd right now?
The price is below even our cautious bear case (11.23 TWD). The market is more pessimistic than our downside scenario. The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of O-Bank Co Ltd (2897) come from?
Earnings per share at O-Bank Co Ltd grew −1.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.2 %, EBIT margin −6.5 %, tax rate +0.3 %, residual (interest, one-offs) +1.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of O-Bank Co Ltd

How large is the market capitalisation of O-Bank Co Ltd (2897)?
The market capitalisation of O-Bank Co Ltd is 57.1B TWD (≈ $1.7B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of O-Bank Co Ltd (2897)?
The price-to-sales ratio of O-Bank Co Ltd is 1.27 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of O-Bank Co Ltd (2897)?
Earnings per share at O-Bank Co Ltd are 0.6400 TWD (price ÷ EPS = P/E 16.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of O-Bank Co Ltd (2897)?
The dividend yield of O-Bank Co Ltd is 5.0% (payout 81.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of O-Bank Co Ltd (2897)?
The net margin of O-Bank Co Ltd is 7.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of O-Bank Co Ltd (2897)?
The return on equity (ROE) of O-Bank Co Ltd is 6.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of O-Bank Co Ltd (2897)?
On an EBIT basis the return on assets of O-Bank Co Ltd is 0.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of O-Bank Co Ltd (2897)?
The operating margin of O-Bank Co Ltd is 54.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at O-Bank Co Ltd (2897)?
Revenue at O-Bank Co Ltd is growing +29.3% versus a year earlier (3y avg +20.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at O-Bank Co Ltd (2897)?
Earnings per share at O-Bank Co Ltd are growing +100% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does O-Bank Co Ltd (2897) generate?
The free cash flow of O-Bank Co Ltd is 781M TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does O-Bank Co Ltd (2897) carry?
The net debt of O-Bank Co Ltd is 270B TWD (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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