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Fubon Financial Holding (2881A) Fair Value & Analysis

Financial Services · TW · Market cap 449B TWD

FF Fubon Financial Holding 2881A · TW
Price61.80 TWD
Fair Value123.80 TWD
Upside+100.3%
Quality40/100
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Weak Growth
Solidly profitable · 17.6% net margin
Low debt · generates free cash flow
6.87% dividend yield
Ranks above peers (10/13)
Wide moat 69/100
Evidence: High Range 92.85 TWD – 154.75 TWD Share as image

Fair value as of: Jul 14, 2026

From 4 valuation models · updated 26 days ago

Fair value updated Jul 14, 2026, revised from 127.40 TWD to 123.80 TWD (−2.8%) since Jun 26, 2026. Share price −0.2% over the past month.

Below-average quality, screening 100% undervalued on our models.

What matters 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 (92.85 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.
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Price vs Fair Value (5 years)

64.50 TWD 54.82 TWD Fair Value 123.80 TWD Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range 54.82 TWD – 64.50 TWD · fair‑value band 92.85 TWD – 154.75 TWD · the 61.80 TWD price screens below the 123.80 TWD fair value. Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

Fubon Financial Holding (2881A) currently trades at 61.80 TWD, while our model-based Fair Value estimate is 123.80 TWD, implying the stock looks roughly 100.3% undervalued today. The Quality Score stands at 40/100 (below-average quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Fubon Financial Holding generated revenue of 1.0T TWD at a net margin of 17.6%. Revenue grew 175.6% year over year. It earns a return on equity of 18.7%. The stock trades on a trailing P/E of 5.3. Fundamentals as of Jul 14, 2026

Our scenario range runs from 92.85 TWD (bear case) to 154.75 TWD (bull case); at 61.80 TWD, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. 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 33% fair-value upside, at 100%, 2881A screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Residual Income 91.08 TWD 111.04 TWD 246.06 TWD 76
P/E Multiple 115.23 TWD 153.64 TWD 192.05 TWD 63
P/B Multiple 100.82 TWD 134.42 TWD 168.03 TWD 55
All 4 models by family
Multiples
P/E Multiple 115.23 TWD 153.64 TWD 192.05 TWD 63
P/B Multiple 100.82 TWD 134.42 TWD 168.03 TWD 55
Asset-Based
NCAV (Graham) 48.01 TWD 64.33 TWD 96.02 TWD 50
Economic Profit
Residual Income 91.08 TWD 111.04 TWD 246.06 TWD 76

Widest divergence: Multiples (134.42 TWD) versus Asset-Based (64.33 TWD). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 1.0T TWD
Revenue growth (YoY) +176%
Net margin 17.6%
Return on equity 18.7%
Free cash flow 5.8B TWD FY2025
P/E ratio 5.3
More key figures
Operating margin 48.5%
EPS (TTM) 11.92 TWD
Dividend yield 6.7%
EPS growth (YoY) +1.8%

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 40/100

Of which business quality 36 · Market factors (momentum, volatility) 51

Profitability 35
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 14
Earnings quality: real cash, not paper profit
Fin. Strength 24
Balance sheet, leverage, solvency risk
Investment 55
Disciplined investing over empire-building
Low Volatility 94
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 29
Distance to the 52-week high (market factor)
Net Issuance 75
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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.

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Fubon Financial Holding 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.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
379B TWD
Latest YoY
+9.3%
Avg. growth/yr (3Y)
+14.2%
Avg. growth/yr (5Y)
−4.4%
Avg. growth/yr (10Y)
−4.9%
Revenue −5.9%/yr
FY21 485B TWD
FY22 255B TWD
FY23 172B TWD
FY24 347B TWD
FY25 379B TWD
Net income −4.4%/yr
FY21 145B TWD
FY22 46.9B TWD
FY23 66.0B TWD
FY24 151B TWD
FY25 121B TWD

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

Peer Group

Insurance - Life · 95 stocks

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.

Quality Score 40 · Bottom 25%
Fair Value upside +100% · Top 25%
Return on equity (TTM) 19% · Top 25%
Return on assets 2% · Top 25%
Net margin (TTM) 18% · Top 25%
Operating margin (TTM) 48% · Top 25%
Revenue growth 176% · Top 25%
Dividend yield (TTM) 6.9% · Top 25%
Debt / equity 0.38× · Higher than median

Valuation Multiples vs Insurance - Life median · lower = cheaper

P/E (TTM) 5.2× · Cheaper than 75% of peers
P/B 0.46× · Cheaper than 75% of peers
P/S (TTM) 0.43× · Cheaper than 75% of peers
P/FCF 2.4× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 32
FUTURE 100 · sector 44
PAST 75 · sector 43
HEALTH 81 · sector 86
DIVIDEND 100 · sector 55

Insider activity: 30/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Insurance - Life stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
China Life Insurance Company 601628 ¥38.72 ¥70.87 +83%
Ping An Insurance (Group) Company 601318 ¥49.60 ¥96.76 +95%
AIA Group 1299 HK$75.55 HK$7.88 -90%
Manulife Financial Corporation MFC C$58.52 C$45.13 -23%
Great-West Lifeco Inc GWO C$92.34 C$59.64 -35%
Life Insurance Corporation LICI ₹438.30 ₹590.43 +35%
Cathay Financial Holding 2882 94.00 TWD 94.95 TWD +1%
Samsung Life Insurance Co 032830 337,500 KRW 166,710 KRW -51%
China Pacific Insurance (Group) Co 601601 ¥29.75 ¥59.50 +100%
Prudential plc PUKN 545.00 MXN 722.72 MXN +33%

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Frequently asked questions

Is Fubon Financial Holding (2881A) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of 123.80 TWD versus a price of 61.80 TWD, about +100% (undervalued).
What is the fair value of 2881A?
Our model-based fair value for Fubon Financial Holding is 123.80 TWD (as of Jul 14, 2026), built from audited fundamentals. The current price is 61.80 TWD.
What is the quality score of 2881A?
Fubon Financial Holding 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 revenue of Fubon Financial Holding (2881A)?
Fubon Financial Holding reported trailing-twelve-month revenue of about 1.0T TWD (latest available figure, as of Jul 14, 2026).
What is the net profit margin of 2881A?
The net profit margin of Fubon Financial Holding is about 17.6%, meaning it keeps roughly 17.6% of revenue as net income. Based on the latest reported figures.
Does Fubon Financial Holding pay a dividend?
Fubon Financial Holding currently shows a dividend yield of about 6.68% relative to its recent price (as of Jul 14, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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