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BDO Unibank Inc (BDOUY) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of BDO Unibank Inc stock $24.12, price $19.80, upside +21.8%, quality 55 out of 100. Rating: undervalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.

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Financial Services US · ADR · Home Philippines

BU BDO Unibank Inc logo Broad data Nov 6, 2026

BDO Unibank Inc

BDOUY · US
Undervalued, but in a downtrend

The stock costs 18% less than our calculation considers fair.

Fair value $24.12 · Undervalued (18%)
Healthy Growth (revenue YoY +58.7 %/yr in PHP)
Highly profitable · 31.2% net margin (TTM)
4.4% dividend yield · Low payout
Ranks above peers (12/14)
Wide moat 69/100
Broad data
Costs just 7.2 times its yearly profit.
Quality 55/100
Downbeat coverage

Risks from the AI analysis

🚩Digital banks with higher rates🚩Supreme Court negligence precedent
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What runs behind every stock

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

Price vs Fair Value

$28.75 $13.59 Fair Value $24.12 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.

How to read this chart

60‑month range $13.59 – $28.75 · fair‑value band $18.72 – $37.00 · the $19.80 price screens below the $24.12 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 6, 2026.

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Company profile

BDO Unibank, Inc., together with its subsidiaries, provides various banking products and services to individuals and corporations in the Philippines and internationally.

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The company operates through Commercial Banking, Investment Banking, Private Banking, Leasing and Financing, Insurance, and other segments.

It offers checking, savings and time deposit, and foreign currency accounts; and personal and business loans, such as home, auto, SME, project finance, term, and working capital.

The company also provides insurance products, including life and non-life insurance, and corporate insurance; debit, credit, and corporate cards; and securities underwriting, loan syndication, underwriting, placing of debt and equity securities, financial advisory, and securities brokerage services.

In addition, it engages in the leasing and sale of property; cash management; realty management; remittances; leasing products, such as finance and operating lease, receivable factoring, mortgage loans, amortized commercial loan, installment paper purchase, and floor stock financing; capital markets; international banking; and online, mobile, and phone banking services.

Further, the company provides trade settlements, export bills purchases, and letters of credit; and merchant and point-of-sale solutions, and institutional trust management services. BDO Unibank, Inc. was incorporated in 1967 and is headquartered in Makati City, the Philippines.

Stock analysis

BDO Unibank Inc (BDOUY) currently trades at $19.80, while our model-based Fair Value estimate is $24.12, implying the stock looks roughly 18% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of $30.00 per share, and 3 of the 6 models we run sit above the $19.80 price.

Bear case: the Asset-Based group reads lowest at $12.51, and 3 of the 6 models stay below the price. Data coverage for this calculation is high.

Scenario range: $18.72 (bear) to $37.00 (bull), the price of $19.80 sits inside 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 55/100 (solid quality), in the Financial Services sector.

Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.

BDO Unibank Inc ADR reported revenue of 369B PHP in FY2025 versus 188B PHP in FY2021, a compound +18.3%/yr. Reported net income was 87.6B PHP in FY2025, compounding +19.6%/yr from FY2021.

Key figures

Market cap $10.6B Large · P/E ratio 7.2 · P/S ratio 1.71 · EPS (TTM) $2.75 · Dividend yield 4.4% · Net margin 23.8% · Return on equity 13.8% · Return on assets (EBIT) 2.0% (5-year average).

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 69 out of 100 (medium confidence).

What moves the price

The share trades about 17% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at 22%, BDOUY screens cheaper than that median.

Fair Value models

Bear $18.72 Fair Value $24.12 Bull $37.00
Price $19.80 · Upside +21.8%
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 ($1.61 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 $18.71 $24.11 $36.99 74
DDM Multi-Stage $6.80 $12.15 $15.45 66
Gordon GGM $6.80 $14.82 $24.89 65
All 6 models by family
Dividend Discount
Gordon GGM $6.80 $14.82 $24.89 65
DDM Multi-Stage $6.80 $12.15 $15.45 66
Multiples
P/E Multiple $25.39 $33.86 $42.32 63
P/B Multiple $19.61 $26.14 $32.68 55
Asset-Based
NCAV (Graham) $9.34 $12.51 $18.67 54
Economic Profit
Residual Income $18.71 $24.11 $36.99 74

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Quality Score breakdown

Overall quality 55/100

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

Profitability 37
How much profit the company makes from its sales and capital
Quality Growth 42
Are margins and returns getting better?
Cashflow 77
Do the profits arrive as real cash?
Financial strength 21
Debt, balance sheet and risk of trouble
Investment 61
Does it invest with discipline instead of growing at any price?
Low Volatility 76
How calm the share price moves, does not count
Price momentum 33
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 31
Distance to the 52-week high, does not count
New shares 80
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. 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
What shareholders gained per year (last 5 years), in PHP ⓘ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 PHP: 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.
+19.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.1%
Dividend (yield on the price)4.4%
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.15.1% vs 11.5%, picking up
Profit margin 2019 to 2024 ⓘ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.29% → 51%
Pace: the 5-year rate starts in 2020 (pandemic)

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Earlier news

News mood ⓘNews mood, the average tone of recent news (38 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Very negative
Recent news coverage is unusually downbeat.
Note from the team Oct 11, 2026
AI conclusion: The regional bank's core strength is its solid margins and ROE, while its main weakness remains the limited evidence of a durable moat beyond domestic scale together with sparse governance disclosures.
Main risk: Digital banks such as Maya Bank and Tonik could attract deposits with higher rates than BDO typically offers, squeezing net interest margins or customer deposits.
Bull case: BDO could leverage its large branch network and ongoing digital upgrades to retain customers while matching competitive rates through efficiency gains from its new payments platform.
Bear case: Intensifying competition from digital banks and stricter liability for operational errors could erode BDO's deposit base and margins, limiting its ability to fund lending profitably.
BDO Unibank is consolidating its high-value and mass payments processing on a single modern platform to handle rising volumes and prepare for new standards like ISO 20022. This upgrade aims to boost automation and resilience in its core banking operations. Our models see the shares as undervalued, yet higher rates continue to test margins across Philippine banks. Will the efficiency improvements from the new system deliver more lasting advantage than the rate environment takes away?
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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 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 55 · Above median
Fair Value upside +21.8% · Top 25%
Profitability
Return on equity (12 months) 13.8% · Top 25%
Return on assets 1.6% · Top 25%
Net margin (12 months) 31.2% · Above median
Operating margin (12 months) 37.1% · Below median
Growth and dividend
Revenue growth (quarter YoY) 4.7% · Below median
Dividend yield (12 months) 4.4% · Top 25%
Balance sheet
Debt / equity 0.14× · Below median

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/E (12 months) 7.2× · Cheapest 25%
P/B 1.05× · Cheaper than median
P/S (12 months) 2.40× · Cheaper than median
Price / free cash flow (fiscal year) 8.0× · Cheaper than median
EV/EBITDA 4.8× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)62 · sector 8
FUTURE (revenue growth)24 · sector 47
PAST (return on equity)55 · sector 43
HEALTH (low debt)–
DIVIDEND (yield)88 · 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 BDOUY
China Merchants Bank Co 600036 ¥42.88 ¥52.73 +23% vs BDOUY
BNP Paribas SA BNP €91.93 €106.01 +15% vs BDOUY
Intesa Sanpaolo S.p.A ISP €6.18 €4.49 −27% vs BDOUY
State Bank of India SBIN ₹1,019 ₹736.65 −28% vs BDOUY
UniCredit S.p.A UCG €76.80 €50.44 −34% vs BDOUY
Mizuho Financial Group MFG $9.40 $5.90 −37% vs BDOUY
DBS Group D05 69.72 SGD 40.39 SGD −42% vs BDOUY
HDFC Bank Limited HDFCBANK ₹788.25 ₹406.39 −48% vs BDOUY
ICICI Bank Limited ICICIBANK ₹1,571 ₹615.63 −61% vs BDOUY

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Cite: Fair Value Calculator (2026). "BDO Unibank Inc ADR Fair Value". https://www.fairvalue-calculator.com/stock/BDOUY

Frequently asked questions

Is BDO Unibank Inc (BDOUY) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of $24.12 versus a price of $19.80, about +22% upside (undervalued).
What is the fair value of BDOUY?
Our model-based fair value for BDO Unibank Inc is $24.12 (as of Nov 6, 2026), built from audited fundamentals. The current price: $19.80.
What is the quality score of BDOUY?
BDO Unibank Inc has a Quality Score of 55/100. 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 BDO Unibank Inc (BDOUY)?
Our model-based price target is the fair value of $24.12 (as of Nov 6, 2026) from 6 valuation models. Cautious scenario $18.72, optimistic scenario $37.00. It is a calculation from audited fundamentals, not an analyst target.
What is the BDO Unibank Inc ADR stock forecast for 2026?
Our models put fair value at $24.12, about +22% upside versus a price of $19.80 (undervalued). Cautious scenario $18.72, optimistic scenario $37.00. The calculation is refreshed regularly with new filings.
What is the revenue of BDO Unibank Inc (BDOUY)?
BDO Unibank Inc reported trailing-twelve-month revenue of about 280B PHP (latest available figure, as of Nov 6, 2026).
Does BDO Unibank Inc ADR pay a dividend?
BDO Unibank Inc currently shows a dividend yield of 4.39% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of BDO Unibank Inc (BDOUY) and when is the ex-dividend date?
BDO Unibank Inc pays a dividend of $0.869 per share a year, a dividend yield of 4.4%. The last ex-dividend date was Sep 14, 2026. A dividend has been paid every year since at least 2015. The payout ratio is 33.4% of earnings. Our assessment: Low payout. A low payout ratio: the dividend takes at most 60 % of earnings. Whether free cash flow covers it as well, we cannot see for this company.
What is the intrinsic value of BDO Unibank Inc (BDOUY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For BDO Unibank Inc it is $24.12 per share (as of Nov 6, 2026), against a price of $19.80. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is BDO Unibank Inc ADR stock overvalued or undervalued in 2026?
As of Nov 6, 2026, BDOUY trades below its calculated fair value: price $19.80, fair value $24.12, a gap of about +22% (undervalued). 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 BDOUY?
No. The price is what the market pays today ($19.80); the fair value is what the company's own numbers justify ($24.12). For BDO Unibank Inc the two are $4.32 per share apart. That gap is exactly why we show both numbers side by side.
How much is BDO Unibank Inc ADR worth?
The market values BDO Unibank Inc at about $10.6B (market capitalisation, as of Nov 6, 2026). Per share that is $19.80; our models calculate a fair value of $24.12 per share.
What do the bullish and bearish scenarios say about BDOUY?
Our models span a range for BDO Unibank Inc: cautious scenario $18.72, base $24.12, optimistic $37.00 per share (as of Nov 6, 2026, price $19.80). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BDOUY?
BDO Unibank Inc trades at a price-to-earnings ratio of 7.2 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $24.12 is built from several models across several years. Other multiples: P/B 1.1, P/S 2.4, EV/EBITDA 4.8.
How solid is the balance sheet of BDO Unibank Inc (BDOUY)?
Balance-sheet figures for BDO Unibank Inc (as of Nov 6, 2026): return on equity 13.8%, debt of 0.14 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is BDOUY from its 52-week high?
BDO Unibank Inc trades at $19.80, about 17% below its 52-week high of $23.79 and 14% above the low of $17.30 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $24.12 is for.
Which stocks are comparable to BDO Unibank Inc ADR?
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 BDO Unibank Inc ADR stock attractive at the current price?
The data as of Nov 6, 2026: price $19.80, calculated fair value $24.12 (+22%), Quality Score 55/100, 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 BDOUY calculated?
We run BDO Unibank Inc through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of $24.12 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. BDO Unibank Inc currently trades 18% 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 BDO Unibank Inc (BDOUY)?
The closing price on Nov 6, 2026 was $19.80. Our model-based fair value is $24.12, about +22% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with BDO Unibank Inc ADR right now?
Solid quality (55/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($18.72 to $37.00) leaves room in how you read the outcome. 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 BDO Unibank Inc (BDOUY) come from?
Earnings per share at BDO Unibank Inc grew +12.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share +10.4 %, EBIT margin +2.5 %, tax rate −0.4 %, residual (interest, one-offs) −0.6 %. 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 BDO Unibank Inc

How large is the market capitalisation of BDO Unibank Inc (BDOUY)?
The market capitalisation of BDO Unibank Inc is $10.6B. 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 BDO Unibank Inc (BDOUY)?
The price-to-sales ratio of BDO Unibank Inc is 1.71 (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 BDO Unibank Inc (BDOUY)?
Earnings per share at BDO Unibank Inc are $2.75 (price ÷ EPS = P/E 7.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of BDO Unibank Inc (BDOUY)?
The dividend yield of BDO Unibank Inc is 4.4% (payout 31.6%). 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 BDO Unibank Inc (BDOUY)?
The net margin of BDO Unibank Inc is 23.8% (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 BDO Unibank Inc (BDOUY)?
The return on equity (ROE) of BDO Unibank Inc is 13.8% (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 BDO Unibank Inc (BDOUY)?
On an EBIT basis the return on assets of BDO Unibank Inc is 2.0% (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 BDO Unibank Inc (BDOUY)?
The operating margin of BDO Unibank Inc is 37.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at BDO Unibank Inc (BDOUY)?
Revenue at BDO Unibank Inc is growing +4.7% versus a year earlier (3y avg +22.6%). 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 BDO Unibank Inc (BDOUY)?
Earnings per share at BDO Unibank Inc are growing −1.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does BDO Unibank Inc (BDOUY) generate?
The free cash flow of BDO Unibank Inc is 84.2B PHP (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 BDO Unibank Inc (BDOUY) carry?
The net debt of BDO Unibank Inc is 55.8B PHP (fiscal year 2025, ≈ 0.7 yrs of FCF). 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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