Union Bank of Taiwan (2838) fair value: what the stock is really worth
As of Oct 5, 2026: fair value of Union Bank of Taiwan TWD 19.55, price TWD 20.20, upside -3.2%, quality 30 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? No
- Add to watchlist
Union Bank of Taiwan
2838 · TWLow PriorityFair Value upside is limited and quality is weak.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 30, 2026.
How to read this chart
60‑month range 10.98 TWD – 24.70 TWD · fair‑value band 14.66 TWD – 24.43 TWD · the 20.20 TWD price screens above the 19.55 TWD fair value. Dashed = 300-day average. As of Sep 30, 2026.
Every Wednesday you see whether Union Bank of Taiwan is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Company profile
Union Bank of Taiwan provides various banking products and services. It operates through Corporate Banking Unit, Consumer Banking Unit, Wealth Management and Trust Unit, Investing Unit, and Leasing Unit segments.
Show more
Union Bank of Taiwan provides various banking products and services. It operates through Corporate Banking Unit, Consumer Banking Unit, Wealth Management and Trust Unit, Investing Unit, and Leasing Unit segments. The company accepts deposit products, loans, remittances, acceptances, issuance of guarantees and letters of credit, short-term bills transactions, foreign exchange transactions, savings, and trusts. It also provides corporate loans, discount bills and notes, domestic letters of credit and conduct accounts receivable factoring, mortgages, auto loans, personal loans, and other consumer credit; credit card services; and wealth management, trust, custodian business, safe-deposit box rental, and certification services for marketable securities. In addition, the company engages in handling of exports, imports, foreign remittances, foreign currency loans, and guarantees; trades in marketable securities and futures on behalf of customers; and acts as collecting and paying agent for public facilities fees, taxes, and remittances, as well as operates as a property insurance agency. Further, the company involved in the retail and distribution of hardware and software products; development of system programs; system development outsourcing; website designing; e-commerce activities; car rental; import and export financing; securities investment trust; and installment, leasing, and accounts receivable factoring businesses. Additionally, it engages in sale, purchase, and leasing of real estate; venture capital; general business investment; installment sale and purchase; investment leasing business; general and investment management consulting; investment and management of private equity fund; and power generation, transmission, distribution, and energy technology service business; and equipment leasing activities. Union Bank of Taiwan was founded in 1989 and is headquartered in Taipei, Taiwan.
Stock analysis
Union Bank of Taiwan (2838) currently trades at 20.20 TWD, while our model-based Fair Value estimate is 19.55 TWD, so the stock looks roughly fairly valued today (gap 3.3%).
Show more
Valuation
Bull case: the Multiples group reads highest at a median of 17.19 TWD per share, and 1 of the 4 models we run sit above the 20.20 TWD price.
Bear case: the Asset-Based group reads lowest at 12.42 TWD, and 3 of the 4 models stay below the price. Evidence for this calculation is low.
Scenario range: 14.66 TWD (bear) to 24.43 TWD (bull), the price of 20.20 TWD 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 30/100 (below-average quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Union Bank of Taiwan reported revenue of 7.2B TWD in FY2025 versus 19.6B TWD in FY2021, a compound −22.1%/yr. Reported net income was 6.1B TWD in FY2025, compounding +8.0%/yr from FY2021.
Key figures
Market cap 95.2B TWD (≈ $3.0B) · P/E ratio 16.6 · P/S ratio 13.9 · EPS (TTM) 1.22 TWD · Dividend yield 2.1% · Net margin 83.9% · Return on equity 7.6% · Return on assets (EBIT) 0.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 18% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −36% fair-value upside, at −3%, 2838 screens cheaper than that median.
Fair Value models
All 4 models by family
Notify me when 2838 reaches fair value
Put 2838 on your watchlist. We get in touch as soon as price and fair value meet or the trend turns.
Set up alert →Quality Score breakdown
Of which business quality 25 · Market factors (momentum, volatility) 56
Revenue & earnings trend
Watch 2838, get fair value alerts →
Compare Union Bank of Taiwan with another stock
Price, fair value, quality and upside side by side.
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 · 1059 stocks
Valuation Multiplesvs Banks - Regional median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Taiwanese Stocks
- Valuation of the Taiwan market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| DBS Group D05 | 78.00 SGD | 40.39 SGD | −48% |
| China Merchants Bank Co 600036 | ¥40.69 | ¥52.73 | +30% |
| UniCredit S.p.A UCG | €79.53 | €77.12 | −3% |
| Mizuho Financial Group MFG | $11.05 | $6.82 | −38% |
| Intesa Sanpaolo S.p.A ISP | €6.38 | €4.06 | −36% |
| BNP Paribas SA BNP | €91.54 | €105.99 | +16% |
| HDFC Bank Limited HDFCBANK | ₹721.20 | ₹406.44 | −44% |
| Oversea-Chinese Banking Corporation O39 | 32.01 SGD | 19.78 SGD | −38% |
| Al Rajhi Banking and Investment Corporation 1120 | 63.15 SAR | 36.95 SAR | −41% |
| CaixaBank, S.A CABK | €12.03 | €8.46 | −30% |
Explore undervalued stocks
More undervalued Financial Services stocks →
Try a ready-made strategy
Pick a strategy and jump into the live analysis with that exact screen applied.
Discover tools
Frequently asked questions
Is Union Bank of Taiwan (2838) overvalued or undervalued?
What is the fair value of 2838?
What is the quality score of 2838?
What is the price target for Union Bank of Taiwan (2838)?
What is the Union Bank of Taiwan stock forecast for 2026?
What is the revenue of Union Bank of Taiwan (2838)?
Does Union Bank of Taiwan pay a dividend?
What is the intrinsic value of Union Bank of Taiwan (2838)?
Is Union Bank of Taiwan stock overvalued or undervalued in 2026?
Is fair value the same as the market price of 2838?
How much is Union Bank of Taiwan worth?
What do the bullish and bearish scenarios say about 2838?
What is the P/E ratio of 2838?
What is the PEG ratio of 2838?
How solid is the balance sheet of Union Bank of Taiwan (2838)?
How far is 2838 from its 52-week high?
Which stocks are comparable to Union Bank of Taiwan?
Is Union Bank of Taiwan stock attractive at the current price?
How is the fair value of 2838 calculated?
Is it still worth investing in stocks now?
What is the share price of Union Bank of Taiwan (2838)?
What should I pay attention to with Union Bank of Taiwan right now?
Where does the earnings growth of Union Bank of Taiwan (2838) come from?
Key figures of Union Bank of Taiwan
How large is the market capitalisation of Union Bank of Taiwan (2838)?
What is the P/S ratio of Union Bank of Taiwan (2838)?
What are the earnings per share of Union Bank of Taiwan (2838)?
What is the dividend yield of Union Bank of Taiwan (2838)?
What is the net margin of Union Bank of Taiwan (2838)?
What is the return on equity of Union Bank of Taiwan (2838)?
What is the EBIT return on assets of Union Bank of Taiwan (2838)?
What is the operating margin of Union Bank of Taiwan (2838)?
How fast is revenue growing at Union Bank of Taiwan (2838)?
How fast are earnings growing at Union Bank of Taiwan (2838)?
How much free cash flow does Union Bank of Taiwan (2838) generate?
How much net debt does Union Bank of Taiwan (2838) carry?
Watch Union Bank of Taiwan in the live analysis
One click puts Union Bank of Taiwan on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
Watch for free →Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.