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STOCK COMPARISON

Taichung Commercial Bank Co vs DBS Group Holdings: Fair Value & Quality

Both stocks run through our valuation models. Here is how Taichung Commercial Bank Co (2812) and DBS Group Holdings (D05) compare, as of Sep 24, 2026.

As of Sep 24, 2026, Fair Value Calculator sees Taichung Commercial Bank Co as the less overvalued of the two: Taichung Commercial Bank Co trades at TWD 19.00 versus a fair value of TWD 15.11 (-20%), while DBS Group Holdings trades at S$77.69 versus S$40.48 (-48%).
Taichung Commercial Bank Co
2812.TW · TWD · Financials
-20%
upside to fair value
overvalued
PriceTWD 19.00
Fair ValueTWD 15.11
Quality45/100
DBS Group Holdings
D05.SG · SGD · Financials
-48%
upside to fair value
overvalued
PriceS$77.69
Fair ValueS$40.48
Quality65/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Taichung Commercial Bank CoDBS Group Holdings
Valuation
12.4×P/E (TTM)20.2×
6.08×P/S (TTM)7.73×
1.35×P/B2.50×
7.3×EV/EBITDAn/a
n/aPEG3.44×
−20.5%Fair value upside−47.9%
2.1%Dividend yield3.7%
TWD 0.39Dividend per shareS$2.85
Profitability
56%Operating margin60%
3.26×EBIT margin trend (5Y)0.99×
10%Return on equity16%
1%Return on assets1%
Growth
8%Revenue growth (YoY)3%
24.5%Avg. growth/yr (3Y)11.6%
13.4%Avg. growth/yr (5Y)9.4%
+13.0%Value creation/yr+12.7%
Balance & size
0.8×Interest coverage (EBIT/interest)0.6×
0.15×Debt / equity0.69×
$4BMarket cap$172B
mixedGrowth qualityhealthy

Taichung Commercial Bank Co leads: 10 to 3 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Taichung Commercial Bank Coof which business quality 44 · market factors 48 DBS Group Holdingsof which business quality 61 · market factors 93
ProfitabilityMargins and returns on capital today
34
38
Quality GrowthAre margins and returns improving?
58
54
CashflowEarnings quality: real cash, not paper profit
90
84
Fin. StrengthBalance sheet, leverage, solvency risk
19
56
InvestmentDisciplined investing over empire-building
41
78
Low VolatilityCalm price path (market factor)
100
100
MomentumPrice trend over the last 3–12 months (market factor)
31
86
52W MomentumDistance to the 52-week high (market factor)
16
98
Net IssuanceShare count: buybacks or dilution?
16
65

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyTaichung Commercial Bank CoPrice TWD 19.00DBS Group HoldingsPrice S$77.69
Dividend Discount-74%below the priceTWD 4.98-29%below the priceS$54.87
Multiples+8%close to the priceTWD 20.44-46%below the priceS$42.04
Asset-Based-46%below the priceTWD 10.21-79%below the priceS$16.26
Economic Profit-22%below the priceTWD 14.81-59%below the priceS$32.23
Minimum-74%below the priceTWD 4.98-79%below the priceS$16.26
Maximum+8%close to the priceTWD 20.44-29%below the priceS$54.87
Median-34%below the priceTWD 12.51-52%below the priceS$37.13
Geometric mean-41%below the priceTWD 11.14-57%below the priceS$33.16

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Taichung Commercial Bank Co: 4 of 6 models see the stock below the current price.

DBS Group Holdings: 6 of 6 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Taichung Commercial Bank Co
Price TWD 19.00
Fair Value TWD 15.11
Bear TWD 13.52Bull TWD 25.48
DBS Group Holdings
Price S$77.69
Fair Value S$40.48
Bear S$30.36Bull S$50.60

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Taichung Commercial Bank Co · Financials

Quality score45 · bottom 25%
Fair value upside-20% · below median

DBS Group Holdings · Financials

Quality score65 · Top 25%
Fair value upside-48% · bottom 25%

Bottom line

As of Sep 24, 2026, Fair Value Calculator sees Taichung Commercial Bank Co as the less overvalued of the two: Taichung Commercial Bank Co trades at TWD 19.00 versus a fair value of TWD 15.11 (-20%), while DBS Group Holdings trades at S$77.69 versus S$40.48 (-48%).

DBS Group Holdings has the higher quality score (65/100).

Open Taichung Commercial Bank Co live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.