Fubon Financial Holding Co Ltd Pref (2881A) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Fubon Financial Holding Co Ltd Pref TWD 123, price TWD 61.60, upside +100.0%, quality 40 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 54.82 TWD – 64.50 TWD · fair‑value band 92.40 TWD – 154.00 TWD · the 61.60 TWD price screens below the 123.20 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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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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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. 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 Pref (2881A) currently trades at 61.60 TWD, while our model-based Fair Value estimate is 123.20 TWD, implying the stock looks roughly 50.0% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 134.42 TWD per share, and 4 of the 4 models we run sit above the 61.60 TWD price.
Bear case: the Asset-Based group reads lowest at 64.33 TWD, and 0 of the 4 models stay below the price. Evidence for this calculation is high.
Scenario range: 92.40 TWD (bear) to 154.00 TWD (bull), the price of 61.60 TWD sits below 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 40/100 (below-average quality), in the Financial Services sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Fubon Financial Holding Co Ltd Pref reported revenue of 379B TWD in FY2025 versus 485B TWD in FY2021, a compound −5.9%/yr. Reported net income was 121B TWD in FY2025, compounding −4.4%/yr from FY2021.
Key figures
Market cap 842B TWD (≈ $26.4B) · P/E ratio 5.2 · P/S ratio 1.66 · EPS (TTM) 11.92 TWD · Dividend yield 6.9% · Net margin 31.9% · Return on equity 18.7% · Return on assets (EBIT) 1.3%.
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 4% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −35% fair-value upside, at 100%, 2881A screens cheaper than that median.
Fair Value models
Bear 92.40 TWDFair Value 123.20 TWDBull 154.00 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 (5.61 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+9.3%
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.
+14.2%
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.
−4.4%
Start year 2020 (pandemic). Over 10 years: −4.9% a year
Revenue growth 10 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.
−4.9%
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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.
+7.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.1%
Dividend (yield on the price)6.9%
Profit margin 2015 to 2018 ⓘ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.11% → 13%
2025 sits 88% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
⚠ Revenue per share shrinking 7.7%/yr over ~6Y (margin trend unclear) ⓘ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.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+25.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+18.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +23.2% a year for the price and +16.6% for the forecasts.
Compare Fubon Financial Holding Co Ltd Pref 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.Insurance - Life · 95 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score40 · Bottom 25%
Fair Value upside+100% · Top 25%
Profitability
Return on equity (TTM)19% · Top 25%
Return on assets2% · Top 25%
Net margin (TTM)18% · Top 25%
Operating margin (TTM)48% · Top 25%
Growth and dividend
Revenue growth176% · Top 25%
Dividend yield (TTM)6.9% · Top 25%
Balance sheet
Debt / equity0.38× · Above median
Valuation Multiplesvs Insurance - Life median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Fubon Financial Holding Co Ltd Pref Fair Value". https://www.fairvalue-calculator.com/stock/2881A
Frequently asked questions
Is Fubon Financial Holding Co Ltd Pref (2881A) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 123.20 TWD versus a price of 61.60 TWD, about +100% upside (undervalued).
What is the fair value of 2881A?
Our model-based fair value for Fubon Financial Holding Co Ltd Pref is 123.20 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 61.60 TWD.
What is the quality score of 2881A?
Fubon Financial Holding Co Ltd Pref has a Quality Score of 40/100. 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 Pref (2881A)?
Our model-based price target is the fair value of 123.20 TWD (as of Sep 24, 2026) from 4 valuation models. Cautious scenario 92.40 TWD, optimistic scenario 154.00 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Fubon Financial Holding Co Ltd Pref stock forecast for 2026?
Our models put fair value at 123.20 TWD, about +100% upside versus a price of 61.60 TWD (undervalued). Cautious scenario 92.40 TWD, optimistic scenario 154.00 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Fubon Financial Holding Co Ltd Pref (2881A)?
Fubon Financial Holding Co Ltd Pref reported trailing-twelve-month revenue of about 1.0T TWD (latest available figure, as of Sep 24, 2026).
Does Fubon Financial Holding Co Ltd Pref pay a dividend?
Fubon Financial Holding Co Ltd Pref currently shows a dividend yield of about 6.90% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Fubon Financial Holding Co Ltd Pref (2881A)?
For today's price to be fair in a discounted-cash-flow model, Fubon Financial Holding Co Ltd Pref would have to grow free cash flow by +25.2 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -4.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 2881A use?
Our models discount Fubon Financial Holding Co Ltd Pref at 8.9 %: a base by market capitalisation (large), damped by beta 0.66, 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 Fubon Financial Holding Co Ltd Pref that is +25.2 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has Fubon Financial Holding Co Ltd Pref (2881A) delivered so far?
Over the past 5 years revenue at Fubon Financial Holding Co Ltd Pref grew -4.4 % a year. The price currently implies +25.2 % 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 Fubon Financial Holding Co Ltd Pref (2881A) growing?
The median revenue growth in the sector is +8.4 % a year. That is the yardstick for the growth priced into Fubon Financial Holding Co Ltd Pref (+25.2 % 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 Fubon Financial Holding Co Ltd Pref (2881A)?
The free-cash-flow yield on the price is 0.68 %: that much free cash flow Fubon Financial Holding Co Ltd Pref produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Fubon Financial Holding Co Ltd Pref (2881A)?
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 Pref it is 123.20 TWD per share (as of Sep 24, 2026), against a price of 61.60 TWD. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Fubon Financial Holding Co Ltd Pref stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 2881A trades below its calculated fair value: price 61.60 TWD, fair value 123.20 TWD, a gap of about +100% (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 2881A?
No. The price is what the market pays today (61.60 TWD); the fair value is what the company's own numbers justify (123.20 TWD). For Fubon Financial Holding Co Ltd Pref the two are 61.60 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Fubon Financial Holding Co Ltd Pref worth?
The market values Fubon Financial Holding Co Ltd Pref at about 842B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 61.60 TWD; our models calculate a fair value of 123.20 TWD per share.
What do the bullish and bearish scenarios say about 2881A?
Our models span a range for Fubon Financial Holding Co Ltd Pref: cautious scenario 92.40 TWD, base 123.20 TWD, optimistic 154.00 TWD per share (as of Sep 24, 2026, price 61.60 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2881A?
Fubon Financial Holding Co Ltd Pref trades at a price-to-earnings ratio of 5.2 (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 123.20 TWD is built from several models across several years. Other multiples: P/B 0.9, P/S 0.8, EV/EBITDA 0.7.
How solid is the balance sheet of Fubon Financial Holding Co Ltd Pref (2881A)?
Balance-sheet figures for Fubon Financial Holding Co Ltd Pref (as of Sep 24, 2026): return on equity 18.7%, debt of 0.38 per unit of equity. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is 2881A from its 52-week high?
Fubon Financial Holding Co Ltd Pref trades at 61.60 TWD, about 4% below its 52-week high of 64.50 TWD and 1% above the low of 60.85 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 123.20 TWD is for.
Which stocks are comparable to Fubon Financial Holding Co Ltd Pref?
From the same area (Financial Services) we also value China Life Insurance Company, Ping An Insurance (Group) 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 Pref stock attractive at the current price?
The data as of Sep 24, 2026: price 61.60 TWD, calculated fair value 123.20 TWD (+100%), Quality Score 40/100, from 4 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 2881A calculated?
We run Fubon Financial Holding Co Ltd Pref through 4 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 123.20 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. Fubon Financial Holding Co Ltd Pref currently trades 100 % 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 Fubon Financial Holding Co Ltd Pref (2881A)?
The closing price on Sep 24, 2026 was 61.60 TWD. Our model-based fair value is 123.20 TWD, about +100% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fubon Financial Holding Co Ltd Pref right now?
The large discount to fair value meets weak quality (40/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (92.40 TWD). The market is more pessimistic than our downside scenario. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Fubon Financial Holding Co Ltd Pref
How large is the market capitalisation of Fubon Financial Holding Co Ltd Pref (2881A)?
The market capitalisation of Fubon Financial Holding Co Ltd Pref is 842B TWD (≈ $26.4B). 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 Pref (2881A)?
The price-to-sales ratio of Fubon Financial Holding Co Ltd Pref is 1.66 (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 Pref (2881A)?
Earnings per share at Fubon Financial Holding Co Ltd Pref are 11.92 TWD (price ÷ EPS = P/E 5.2). 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 Pref (2881A)?
The dividend yield of Fubon Financial Holding Co Ltd Pref is 6.9% (payout 35.7%). 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 Pref (2881A)?
The net margin of Fubon Financial Holding Co Ltd Pref is 31.9% (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 Pref (2881A)?
The return on equity (ROE) of Fubon Financial Holding Co Ltd Pref is 18.7% (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 Fubon Financial Holding Co Ltd Pref (2881A)?
On an EBIT basis the return on assets of Fubon Financial Holding Co Ltd Pref is 1.3% (avg 4y). 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 Pref (2881A)?
The operating margin of Fubon Financial Holding Co Ltd Pref is 48.5% (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 Pref (2881A)?
Revenue at Fubon Financial Holding Co Ltd Pref is growing +176% versus a year earlier (3y avg +14.2%). 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 Pref (2881A)?
Earnings per share at Fubon Financial Holding Co Ltd Pref are growing +1.8% versus a year earlier. How much earnings per share grew versus a year earlier.
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