EnTie Commercial Bank Ltd (2849) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of EnTie Commercial Bank Ltd TWD 11.74, price TWD 15.65, upside -25.0%, quality 48 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 12.05 TWD – 16.25 TWD · fair‑value band 8.81 TWD – 14.68 TWD · the 15.65 TWD price screens above the 11.74 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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EnTie Commercial Bank Co., Ltd. provides banking products and services in Taiwan. It operates through three segments: Retail Banking, Corporate Banking, and Operating Management. The company offers checking accounts, demand deposits, time deposits, foreign currency deposits, and negotiable certificates of deposit.
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EnTie Commercial Bank Co., Ltd. provides banking products and services in Taiwan. It operates through three segments: Retail Banking, Corporate Banking, and Operating Management. The company offers checking accounts, demand deposits, time deposits, foreign currency deposits, and negotiable certificates of deposit. It also provides businesses related to consumer finance and wealth management; corporate and financial market. EnTie Commercial Bank Co., Ltd. was founded in 1992 and is headquartered in Taipei, Taiwan.
Stock analysis
EnTie Commercial Bank Ltd (2849) currently trades at 15.65 TWD, while our model-based Fair Value estimate is 11.74 TWD, implying the stock looks roughly 33.3% overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 12.72 TWD per share, and 0 of the 6 models we run sit above the 15.65 TWD price.
Bear case: the Dividend Discount group reads lowest at 4.17 TWD, and 6 of the 6 models stay below the price. Evidence for this calculation is low.
Scenario range: 8.81 TWD (bear) to 14.68 TWD (bull), the price of 15.65 TWD sits above 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 48/100 (below-average quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
EnTie Commercial Bank Ltd reported revenue of 11.7B TWD in FY2025 versus 7.2B TWD in FY2021, a compound +13.1%/yr. Reported net income was 1.5B TWD in FY2025, compounding −9.8%/yr from FY2021.
Key figures
Market cap 30.7B TWD (≈ $963M) · P/E ratio 19.8 · P/S ratio 2.60 · EPS (TTM) 0.7900 TWD · Dividend yield 2.5% · Net margin 13.1% · Return on equity 4.7% · Return on assets (EBIT) 0.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 4% below its 52-week high and 23% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −38% fair-value upside, at −25%, 2849 screens cheaper than that median.
Fair Value models
Bear 8.81 TWDFair Value 11.74 TWDBull 14.68 TWD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.5779 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.Evidence ⓘEvidence = 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.
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.53/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+2.4%
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.
+12.0%
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.
+8.2%
Start year 2020 (pandemic). Over 10 years: −1.1% a year
Revenue growth 25 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.
−0.4%
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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. Basis: EBIT basis. 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.
−5.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−8.2%
Dividend (yield on the price)2.5%
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.−7% vs −7%, 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.33% → 15%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+24.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +22.3% a year for the price.
Compare EnTie Commercial Bank Ltd with another stock
Price, fair value, quality and upside side by side.
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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 · 1074 stocks
Beats the industry median on 6/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score47 · Below median
Fair Value upside−25% · Below median
Profitability
Return on equity (TTM)5% · Bottom 25%
Return on assets0% · Bottom 25%
Net margin (TTM)30% · Above median
Operating margin (TTM)36% · Below median
Growth and dividend
Revenue growth18% · Above median
Dividend yield (TTM)2.5% · Below median
Balance sheet
Debt / equity0.04× · Lowest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
P/E (TTM)19.8× · Priciest 25%
P/B0.86× · Cheaper than median
P/S (TTM)5.53× · Priciest 25%
P/FCF2.5× · Cheaper than median
EV/EBITDA7.5× · Cheaper than median
PEG4.57× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 11
FUTURE (revenue growth)88· sector 45
PAST (return on equity)19· sector 41
HEALTH (low debt)98· sector 85
DIVIDEND (yield)51· sector 53
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "EnTie Commercial Bank Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2849
Frequently asked questions
Is EnTie Commercial Bank Ltd (2849) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 11.74 TWD versus a price of 15.65 TWD, about −25% upside (overvalued).
What is the fair value of 2849?
Our model-based fair value for EnTie Commercial Bank Ltd is 11.74 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 15.65 TWD.
What is the quality score of 2849?
EnTie Commercial Bank Ltd has a Quality Score of 48/100. 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 EnTie Commercial Bank Ltd (2849)?
Our model-based price target is the fair value of 11.74 TWD (as of Sep 24, 2026) from 6 valuation models. Cautious scenario 8.81 TWD, optimistic scenario 14.68 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the EnTie Commercial Bank Ltd stock forecast for 2026?
Our models put fair value at 11.74 TWD, about −25% upside versus a price of 15.65 TWD (overvalued). Cautious scenario 8.81 TWD, optimistic scenario 14.68 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of EnTie Commercial Bank Ltd (2849)?
EnTie Commercial Bank Ltd reported trailing-twelve-month revenue of about 5.5B TWD (latest available figure, as of Sep 24, 2026).
Does EnTie Commercial Bank Ltd pay a dividend?
EnTie Commercial Bank Ltd currently shows a dividend yield of about 2.54% relative to its recent price (as of Sep 24, 2026).
What growth is priced into EnTie Commercial Bank Ltd (2849)?
For today's price to be fair in a discounted-cash-flow model, EnTie Commercial Bank Ltd would have to grow free cash flow by +24.2 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 2849 use?
Our models discount EnTie Commercial Bank Ltd at 10.3 %: a base by market capitalisation (small), damped by beta 0.23, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For EnTie Commercial Bank Ltd that is +24.2 % per year a year over ten years, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has EnTie Commercial Bank Ltd (2849) delivered so far?
Over the past 5 years revenue at EnTie Commercial Bank Ltd grew +8.2 % a year. The price currently implies +24.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of EnTie Commercial Bank Ltd (2849) growing?
The median revenue growth in the sector is +8.4 % a year. That is the yardstick for the growth priced into EnTie Commercial Bank Ltd (+24.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of EnTie Commercial Bank Ltd (2849)?
The free-cash-flow yield on the price is 1.26 %: that much free cash flow EnTie Commercial Bank Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of EnTie Commercial Bank Ltd (2849)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For EnTie Commercial Bank Ltd it is 11.74 TWD per share (as of Sep 24, 2026), against a price of 15.65 TWD. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is EnTie Commercial Bank Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 2849 trades above its calculated fair value: price 15.65 TWD, fair value 11.74 TWD, a gap of about −25% (overvalued). 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 2849?
No. The price is what the market pays today (15.65 TWD); the fair value is what the company's own numbers justify (11.74 TWD). For EnTie Commercial Bank Ltd the two are 3.91 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is EnTie Commercial Bank Ltd worth?
The market values EnTie Commercial Bank Ltd at about 30.7B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 15.65 TWD; our models calculate a fair value of 11.74 TWD per share.
What do the bullish and bearish scenarios say about 2849?
Our models span a range for EnTie Commercial Bank Ltd: cautious scenario 8.81 TWD, base 11.74 TWD, optimistic 14.68 TWD per share (as of Sep 24, 2026, price 15.65 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2849?
EnTie Commercial Bank Ltd trades at a price-to-earnings ratio of 19.8 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 11.74 TWD is built from several models across several years. Other multiples: PEG 4.6, P/B 0.9, P/S 5.5, EV/EBITDA 7.5.
What is the PEG ratio of 2849?
The PEG ratio of EnTie Commercial Bank Ltd is 4.57 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of EnTie Commercial Bank Ltd (2849)?
Balance-sheet figures for EnTie Commercial Bank Ltd (as of Sep 24, 2026): return on equity 4.7%, debt of 0.04 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is 2849 from its 52-week high?
EnTie Commercial Bank Ltd trades at 15.65 TWD, about 4% below its 52-week high of 16.25 TWD and 23% above the low of 12.75 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 11.74 TWD is for.
Which stocks are comparable to EnTie Commercial Bank Ltd?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, Intesa Sanpaolo S.p.A, HDFC Bank Limited, 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 EnTie Commercial Bank Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 15.65 TWD, calculated fair value 11.74 TWD (−25%), Quality Score 48/100, 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 2849 calculated?
We run EnTie Commercial Bank Ltd through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 11.74 TWD, 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 14.1 % above its aggregate fair value. EnTie Commercial Bank Ltd itself currently trades above fair value. 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 EnTie Commercial Bank Ltd (2849)?
The closing price on Sep 24, 2026 was 15.65 TWD. Our model-based fair value is 11.74 TWD, about −25% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with EnTie Commercial Bank Ltd right now?
The price sits above even our optimistic bull case (14.68 TWD). The favourable scenario is already priced in. Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder. 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 EnTie Commercial Bank Ltd (2849) come from?
Earnings per share at EnTie Commercial Bank Ltd grew −7.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share −0.9 %, EBIT margin −8.1 %, tax rate +1.7 %, residual (interest, one-offs) +0.0 %. 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 EnTie Commercial Bank Ltd
How large is the market capitalisation of EnTie Commercial Bank Ltd (2849)?
The market capitalisation of EnTie Commercial Bank Ltd is 30.7B TWD (≈ $963M). 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 EnTie Commercial Bank Ltd (2849)?
The price-to-sales ratio of EnTie Commercial Bank Ltd is 2.60 (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 EnTie Commercial Bank Ltd (2849)?
Earnings per share at EnTie Commercial Bank Ltd are 0.7900 TWD (price ÷ EPS = P/E 19.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of EnTie Commercial Bank Ltd (2849)?
The dividend yield of EnTie Commercial Bank Ltd is 2.5% (payout 50.4%). 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 EnTie Commercial Bank Ltd (2849)?
The net margin of EnTie Commercial Bank Ltd is 13.1% (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 EnTie Commercial Bank Ltd (2849)?
The return on equity (ROE) of EnTie Commercial Bank Ltd is 4.7% (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 EnTie Commercial Bank Ltd (2849)?
On an EBIT basis the return on assets of EnTie Commercial Bank Ltd is 0.5% (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 EnTie Commercial Bank Ltd (2849)?
The operating margin of EnTie Commercial Bank Ltd is 36.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at EnTie Commercial Bank Ltd (2849)?
Revenue at EnTie Commercial Bank Ltd is growing +17.5% versus a year earlier (3y avg +12.0%). 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 EnTie Commercial Bank Ltd (2849)?
Earnings per share at EnTie Commercial Bank Ltd are growing +40.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does EnTie Commercial Bank Ltd (2849) hold?
EnTie Commercial Bank Ltd holds more cash than debt, 10.6B TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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