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Fubon Financial Holding Co Ltd (2881) fair value: what the stock is really worth

As of Nov 12, 2026: fair value (intrinsic value) of Fubon Financial Holding Co Ltd stock TWD 88.61, price TWD 159, that is 44.3% below the price, quality 39 out of 100. Rating: strongly overvalued. 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 TW0002881000

FF Fubon Financial Holding Co Ltd logo Broad data Nov 11, 2026

Fubon Financial Holding Co Ltd

2881 · TW

Far too expensive (fair value 44% below the price) and weak company, but rising price: meets 1 of 3 rules.

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Rising price (uptrend) 
Highly profitable · 27.8% net margin (TTM) 
2.7% dividend yield · Low payout
Broad data 
Wide moat 77/100 · thin data
Revenue last quarter 25% below a year ago. 
Fair value 88.61 TWD · Strongly overvalued 
Quality 39/100 
Trails peers (4/14) 

Main risks:

🚩Stricter solvency rules raise capital needs🚩Larger rivals may force lower prices
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What runs behind every stock

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

Price vs Fair Value

162.00 TWD 37.23 TWD Fair Value 88.61 TWD Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 11, 2026.

How to read this chart

60‑month range 37.23 TWD – 162.00 TWD · fair‑value band 67.64 TWD – 132.62 TWD · the 159.00 TWD price screens above the 88.61 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 11, 2026.

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Company profile

Fubon Financial Holding Co., Ltd. provides various financial products and services in Taiwan, Asia, and internationally. It operates through Banking Business, Property Insurance Business, Life Insurance Business, Securities Business, and Others segments.

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The company offers insurance products, including property, casualty, life, health, accident, fire, transportation, fishing vessel, car, liability, engineering and nuclear, guarantee and letter of credit, and personal and commercial multiple peril insurance, as well as typhoons, floods, and earthquake insurance products.

It also provides retail and consumer, corporate, and investment banking services; brokerage, trading, and underwriting services; and investment and financial management, and foreign exchange.

In addition, the company offers deposits and loans, trust, bill finance, and credit card services; invests in foreign financial institutions; and insurance brokerage and agent services.

Further, it engages in the venture capital, creditor's rights management, stock and futures brokerage, sales of mutual funds, energy technical services, reinsurance business, asset management, stadium management, and sports activities, as well as invests in and manages real estate properties.

Fubon Financial Holding Co., Ltd. was founded in 1961 and is based in Taipei, Taiwan.

Stock analysis

Fubon Financial Holding Co Ltd (2881) currently trades at 159.00 TWD, while our model-based Fair Value estimate is 88.61 TWD, 44% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of 106.09 TWD per share, and 0 of the 6 models we run sit above the 159.00 TWD price.

Bear case: the Asset-Based group reads lowest at 46.48 TWD, and 6 of the 6 models stay below the price. Data coverage for this calculation is high.

Scenario range: 67.64 TWD (bear) to 132.62 TWD (bull), the price of 159.00 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 39/100 (below-average quality), in the Financial Services sector.

Fubon Financial Holding Co Ltd reported revenue of 190B TWD in FY2025 versus 480B TWD in FY2021, a compound −20.7%/yr. Reported net income was 121B TWD in FY2025, compounding −4.4%/yr from FY2021.

Key figures

Market cap 2.4T TWD (≈ $72.7B) Large · P/E ratio 19.9 · P/S ratio 12.6 · EPS (TTM) 8.01 TWD · Dividend yield 2.7% · Net margin 63.5% · Return on equity 26.1% · Return on assets (EBIT) 2.2% (5-year average).

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 77 out of 100 (low confidence).

What moves the price

The share trades about 2% below its 52-week high and 91% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −33% fair-value upside, at −44%, 2881 screens richer than that median.

Fair Value models

Bear 67.64 TWD Fair Value 88.61 TWD Bull 132.62 TWD
Price 159.00 TWD · Downside -44.3%
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 (3.29 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 67.64 TWD 80.30 TWD 109.24 TWD 76
Gordon GGM 42.05 TWD 88.61 TWD 142.77 TWD 66
DDM Multi-Stage 42.05 TWD 74.14 TWD 92.83 TWD 66
All 6 models by family
Dividend Discount
Gordon GGM 42.05 TWD 88.61 TWD 142.77 TWD 66
DDM Multi-Stage 42.05 TWD 74.14 TWD 92.83 TWD 66
Multiples
P/E Multiple 86.29 TWD 115.05 TWD 143.82 TWD 63
P/B Multiple 72.85 TWD 97.13 TWD 121.41 TWD 55
Asset-Based
NCAV (Graham) 34.69 TWD 46.48 TWD 69.38 TWD 54
Economic Profit
Residual Income 67.64 TWD 80.30 TWD 109.24 TWD 76

Open the full fair value analysis →

Quality Score breakdown

Overall quality 39/100

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

Profitability 36
How much profit the company makes from its sales and capital
Quality Growth 54
Are margins and returns getting better?
Cashflow 5
Do the profits arrive as real cash?
Financial strength 24
Debt, balance sheet and risk of trouble
Investment 52
Does it invest with discipline instead of growing at any price?
Low Volatility 80
How calm the share price moves, does not count
Price momentum 93
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 98
Distance to the 52-week high, does not count
New shares 45
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

What shareholders gained per year (last 5 years), in TWD (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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+3.0%
Dividend (yield on the price)2.7%
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.3.0% vs 5.1%, 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.100% → 72%
2025 sits 73% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 8.9%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.

2881 screens overvalued: fair value 44% below the price. Compare with Ping An Insurance (Group) Company →

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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.Insurance - Life · 77 stocks

Beats the industry median on 4/14 measures
Overall it trails its industry peers.
Valuation
Quality Score 39 · Bottom 25%
Fair Value upside −44.3% · Below median
Profitability
Return on equity (12 months) 26.1% · Top 25%
Return on assets 0.9% · Below median
Net margin (12 months) 27.8% · Top 25%
Operating margin (12 months) 63.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) −25.4% · Bottom 25%
Dividend yield (12 months) 2.7% · Below median
Balance sheet
Debt / equity 0.38× · Above median

Valuation Multiplesvs Insurance - Life median · lower = cheaper

P/E (12 months) 19.9× · Priciest 25%
P/B 2.43× · Priciest 25%
P/S (12 months) 2.42× · Priciest 25%
EV/EBITDA 6.1× · Cheaper than median
PEG 1.36× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 14
FUTURE (revenue growth)0 · sector 38
PAST (return on equity)100 · sector 48
HEALTH (low debt)–
DIVIDEND (yield)53 · sector 54

VALUE 0: the price sits above our fair-value range.

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 Insurance - Life stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
China Pacific Insurance (Group) Co 601601 ¥31.54 ¥48.28 +53% vs 2881
Ping An Insurance (Group) Company 601318 ¥53.80 ¥66.91 +24% vs 2881
China Life Insurance Company 601628 ¥34.95 ¥40.47 +16% vs 2881
Life Insurance Corporation LICI ₹399.30 ₹299.42 −25% vs 2881
MetLife, Inc MET $102.65 $69.12 −33% vs 2881
AIA Group 1299 HK$77.75 HK$51.99 −33% vs 2881
Cathay Financial Holding 2882 114.50 TWD 71.53 TWD −38% vs 2881
Manulife Financial Corporation MFC $44.06 $26.43 −40% vs 2881
Aflac Incorporated AFL $127.61 $75.47 −41% vs 2881
Great-West Lifeco Inc GWO C$93.99 C$41.90 −55% vs 2881

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Fubon Financial Holding Co Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Fubon Financial Holding Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2881

Frequently asked questions

Is Fubon Financial Holding Co Ltd (2881) overvalued or undervalued?
As of Nov 11, 2026, our model estimates a fair value of 88.61 TWD versus a price of 159.00 TWD, about 44% lower (overvalued).
What is the fair value of 2881?
Our model-based fair value for Fubon Financial Holding Co Ltd is 88.61 TWD (as of Nov 11, 2026), built from audited fundamentals. The current price: 159.00 TWD.
What is the quality score of 2881?
Fubon Financial Holding Co Ltd has a Quality Score of 39/100. 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 Fubon Financial Holding Co Ltd (2881)?
Our model-based price target is the fair value of 88.61 TWD (as of Nov 11, 2026) from 6 valuation models. Cautious scenario 67.64 TWD, optimistic scenario 132.62 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Fubon Financial Holding Co Ltd stock forecast for 2026?
Our models put fair value at 88.61 TWD, about 44% lower versus a price of 159.00 TWD (overvalued). Cautious scenario 67.64 TWD, optimistic scenario 132.62 TWD. The calculation is refreshed regularly with new filings.
Does Fubon Financial Holding Co Ltd pay a dividend?
Fubon Financial Holding Co Ltd currently shows a dividend yield of 2.67% relative to its recent price (as of Nov 11, 2026).
How much is the dividend of Fubon Financial Holding Co Ltd (2881) and when is the ex-dividend date?
Fubon Financial Holding Co Ltd pays a dividend of 4.25 TWD per share a year, a dividend yield of 2.7%. The last ex-dividend date was Jul 1, 2026. A dividend has been paid every year since 2010. The payout ratio is 53.1% 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 Fubon Financial Holding Co Ltd (2881)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fubon Financial Holding Co Ltd it is 88.61 TWD per share (as of Nov 11, 2026), against a price of 159.00 TWD. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Fubon Financial Holding Co Ltd stock overvalued or undervalued in 2026?
As of Nov 11, 2026, 2881 trades above its calculated fair value: price 159.00 TWD, fair value 88.61 TWD, a gap of about −44% (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 2881?
No. The price is what the market pays today (159.00 TWD); the fair value is what the company's own numbers justify (88.61 TWD). For Fubon Financial Holding Co Ltd the two are 70.39 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Fubon Financial Holding Co Ltd worth?
The market values Fubon Financial Holding Co Ltd at about 2.4T TWD (market capitalisation, as of Nov 11, 2026). Per share that is 159.00 TWD; our models calculate a fair value of 88.61 TWD per share.
What do the bullish and bearish scenarios say about 2881?
Our models span a range for Fubon Financial Holding Co Ltd: cautious scenario 67.64 TWD, base 88.61 TWD, optimistic 132.62 TWD per share (as of Nov 11, 2026, price 159.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2881?
Fubon Financial Holding Co Ltd trades at a price-to-earnings ratio of 19.9 (as of Nov 11, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 88.61 TWD is built from several models across several years. Other multiples: PEG 1.4, P/B 2.4, P/S 2.4, EV/EBITDA 6.1.
What is the PEG ratio of 2881?
The PEG ratio of Fubon Financial Holding Co Ltd is 1.36 (P/E divided by earnings growth, as of Nov 11, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Fubon Financial Holding Co Ltd (2881)?
Balance-sheet figures for Fubon Financial Holding Co Ltd (as of Nov 11, 2026): return on equity 26.1%, debt of 0.38 per unit of equity. They feed the Quality Score of 39/100, which measures business quality independently of the share price.
How far is 2881 from its 52-week high?
Fubon Financial Holding Co Ltd trades at 159.00 TWD, about 2% below its 52-week high of 162.00 TWD and 91% above the low of 83.18 TWD (as of Nov 12, 2026). Distance from the high says nothing about value: that is what the fair value of 88.61 TWD is for.
Which stocks are comparable to Fubon Financial Holding Co Ltd?
From the same area (Financial Services) we also value Ping An Insurance (Group) Company, China Life Insurance Company, AIA Group, Manulife Financial Corporation, 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 Fubon Financial Holding Co Ltd stock attractive at the current price?
The data as of Nov 11, 2026: price 159.00 TWD, calculated fair value 88.61 TWD (−44%), Quality Score 39/100, 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 2881 calculated?
We run Fubon Financial Holding 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 88.61 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 14.1% above its aggregate fair value. Fubon Financial Holding Co 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 Fubon Financial Holding Co Ltd (2881)?
The closing price on Nov 12, 2026 was 159.00 TWD. Our model-based fair value is 88.61 TWD, about 44% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fubon Financial Holding Co Ltd right now?
The price sits above even our optimistic bull case (132.62 TWD). The favourable scenario is already priced in. Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (67.64 TWD to 132.62 TWD) 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 Fubon Financial Holding Co Ltd (2881) come from?
Earnings per share at Fubon Financial Holding Co Ltd grew 5.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share −1.9 %, EBIT margin −7.2 %, tax rate +0.4 %, residual (interest, one-offs) +15.8 %. 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 Fubon Financial Holding Co Ltd

How large is the market capitalisation of Fubon Financial Holding Co Ltd (2881)?
The market capitalisation of Fubon Financial Holding Co Ltd is 2.4T TWD (≈ $72.7B). 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 Fubon Financial Holding Co Ltd (2881)?
The price-to-sales ratio of Fubon Financial Holding Co Ltd is 12.6 (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 Fubon Financial Holding Co Ltd (2881)?
Earnings per share at Fubon Financial Holding Co Ltd are 8.01 TWD (price ÷ EPS = P/E 19.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Fubon Financial Holding Co Ltd (2881)?
The dividend yield of Fubon Financial Holding Co Ltd is 2.7% (payout 53.1%). 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 Fubon Financial Holding Co Ltd (2881)?
The net margin of Fubon Financial Holding Co Ltd is 63.5% (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 Fubon Financial Holding Co Ltd (2881)?
The return on equity (ROE) of Fubon Financial Holding Co Ltd is 26.1% (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 Fubon Financial Holding Co Ltd (2881)?
On an EBIT basis the return on assets of Fubon Financial Holding Co Ltd is 2.2% (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 Fubon Financial Holding Co Ltd (2881)?
The operating margin of Fubon Financial Holding Co Ltd is 63.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fubon Financial Holding Co Ltd (2881)?
Revenue at Fubon Financial Holding Co Ltd is down 25.4% versus a year earlier (3y avg −9.3%). 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 Fubon Financial Holding Co Ltd (2881)?
Earnings per share at Fubon Financial Holding Co Ltd are growing 1.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Fubon Financial Holding Co Ltd (2881) generate?
The free cash flow of Fubon Financial Holding Co Ltd is −10.8B 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 cash does Fubon Financial Holding Co Ltd (2881) hold?
Fubon Financial Holding Co Ltd holds more cash than debt, 258B TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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