EN DE

Cathay Financial Holding (2882) Fair Value & Analysis

Financial Services · TW · Market cap 1.4T TWD

CF Cathay Financial Holding 2882 · TW
Price99.40 TWD
Fair Value94.95 TWD
Upside-4.5%
Quality65/100
Watch Cathay Financial Holding for free, get notified when fair value or trend changes. Watch for free
Healthy Growth
Thin margins · 7.7% net margin
Low debt · generates free cash flow
Ranks above peers (9/15)
Moderate moat 58/100
Evidence: High Range 71.21 TWD – 118.69 TWD Share as image

Fair value as of: Jul 20, 2026

From 26 valuation models · updated 18 days ago

Share price +1.4% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Share this valuation: 𝕏 WhatsApp

Price vs Fair Value (5 years)

111.52 TWD 31.19 TWD Fair Value 94.95 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

60‑month range 31.19 TWD – 111.52 TWD · fair‑value band 71.21 TWD – 118.69 TWD · the 99.40 TWD price screens above the 94.95 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.

Full chart & analysis →

Which stocks are undervalued right now? Check free Discover now →

Analysis

Cathay Financial Holding (2882) currently trades at 99.40 TWD, while our model-based Fair Value estimate is 94.95 TWD, implying the stock looks roughly 4.5% fairly valued today. We read business quality at 65/100 (solid quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Cathay Financial Holding generated revenue of 813B TWD at a net margin of 7.7%. Revenue grew 94.2% year over year. It earns a return on equity of 11.7%. The balance sheet holds a net cash position of 335B TWD. Fundamentals as of Jul 20, 2026

Our scenario range runs from 71.21 TWD (bear case) to 118.69 TWD (bull case); at 99.40 TWD, the current price sits within 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 1% below its 52-week high and 64% 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 -4%, 2882 screens richer 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
Growth DCF 245.88 TWD 411.39 TWD 709.92 TWD 80
Residual Income 58.98 TWD 69.22 TWD 130.48 TWD 76
Rev-Margin DCF 151.71 TWD 215.17 TWD 297.46 TWD 74
All 26 models by family
DCF Models
FCF DCF 246.70 TWD 423.76 TWD 746.02 TWD 38
Owner Earnings 143.38 TWD 231.92 TWD 393.06 TWD 31
5Y Revenue Exit 151.71 TWD 214.65 TWD 296.48 TWD 39
5Y EBITDA Exit 155.48 TWD 222.40 TWD 303.27 TWD 41
5Y P/E Exit 173.80 TWD 260.16 TWD 357.11 TWD 38
10Y Revenue Exit 178.42 TWD 249.34 TWD 351.69 TWD 36
10Y EBITDA Exit 183.48 TWD 255.16 TWD 357.50 TWD 37
10Y P/E Exit 195.90 TWD 283.46 TWD 403.59 TWD 35
Earnings-Based
Graham-Dodd 49.67 TWD 229.82 TWD 315.62 TWD 54
Lynch FV 60.53 TWD 86.48 TWD 112.42 TWD 50
PEG = 1.0 60.53 TWD 86.48 TWD 112.42 TWD 46
EPV 109.37 TWD 121.61 TWD 132.48 TWD 59
Dividend Discount
Gordon GGM 36.02 TWD 78.65 TWD 132.33 TWD 70
DDM Multi-Stage 36.02 TWD 64.43 TWD 81.96 TWD 61
Multiples
P/E Multiple 109.56 TWD 146.08 TWD 182.60 TWD 63
P/S Multiple 93.12 TWD 124.17 TWD 155.21 TWD 58
P/B Multiple 93.12 TWD 124.17 TWD 155.21 TWD 55
EV/EBIT 144.03 TWD 178.69 TWD 213.34 TWD 53
EV/EBITDA 121.03 TWD 148.01 TWD 175.00 TWD 54
EV/Revenue 110.14 TWD 140.18 TWD 170.21 TWD 43
Asset-Based
NCAV (Graham) 31.64 TWD 42.40 TWD 63.28 TWD 50
Growth DCF
Growth DCF 245.88 TWD 411.39 TWD 709.92 TWD 80
Rev-Margin DCF 151.71 TWD 215.17 TWD 297.46 TWD 74
Economic Profit
Residual Income 58.98 TWD 69.22 TWD 130.48 TWD 76
ROIC Compounder 118.51 TWD 144.84 TWD 178.22 TWD 72
Growth Earnings
Growth-Adj P/E 94.17 TWD 134.53 TWD 174.89 TWD 68

Widest divergence: DCF Models (249.34 TWD) versus Asset-Based (42.40 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 813B TWD
Revenue growth (YoY) +94.2%
Net margin 7.7%
Return on equity 11.7%
Free cash flow 223B TWD FY2025
P/E ratio 14.2
More key figures
Operating margin 36.4%
EPS (TTM) 7.06 TWD
EPS growth (YoY) -1.5%
Net cash 335B TWD FY2025

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 51 · Market factors (momentum, volatility) 87

Profitability 26
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 91
Earnings quality: real cash, not paper profit
Fin. Strength 18
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 91
Price trend over the last 3–12 months (market factor)
52W Momentum 87
Distance to the 52-week high (market factor)
Net Issuance 73
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

Cathay Financial Holding Co., Ltd., through its subsidiaries, provides various financial products and services in Taiwan, rest of Asia, and internationally.

Full company description

Cathay Financial Holding Co., Ltd., through its subsidiaries, provides various financial products and services in Taiwan, rest of Asia, and internationally. The company offers consumer banking services, such as deposit and remittance services; and credit services, including secured and unsecured consumer loans, adjustable-rate mortgage, revolving mortgage, and government subsidized mortgage. It also provides corporate banking services, including corporate, sustainable, working capital, capital expenditure, and bill financing; financing for SMEs; loans for six core strategic industries; project lending; syndicated and structured loans; guarantee and acceptance services comprising tender and performance bond, prepayment, loan, promissory note, post-dated check, and medium/long term debt guarantee; trade financing solutions, such as import/export service, supply chain financing, and forfeiting and factoring; and cash management services. In addition, the company offers wealth management solutions; trust business solutions, such as mutual fund and foreign securities service, real estate escrow trust, joint construction trust, urban renewal trust, and real estate inheritance trust; personal trust services, including children's, retirement, insurance, foreign currency money, equity planning, capital contribution, share ownership, dividend transfer, inheritance, and charity trust; corporate trust services, such as employee welfare and escrow trust, and electronic payment service; custodian service for investment trust funds, discretionary investment accounts, foreigners' investments, private equity funds, and investment-linked insurance policies and securities. Further, it offers credit card services; merchant acquiring services; digital banking services through CUBE App and online banking services; and cross-border financial services. The company was founded in 1990 and is headquartered in Taipei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Cathay Financial Holding reported revenue of 1.1T TWD in FY2025 versus 615B TWD in FY2021, a compound +14.6%/yr. Reported net income was 107B TWD in FY2025, compounding −6.4%/yr from FY2021.

Growth Quality 82/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.1T TWD
Latest YoY
+193.3%
Avg. growth/yr (3Y)
+40.7%
Avg. growth/yr (5Y)
+10.7%
Avg. growth/yr (24Y)
+5.8%
Revenue +14.6%/yr
FY21 615B TWD
FY22 380B TWD
FY23 274B TWD
FY24 361B TWD
FY25 1.1T TWD
Net income −6.4%/yr
FY21 140B TWD
FY22 37.4B TWD
FY23 50.9B TWD
FY24 110B TWD
FY25 107B TWD

Watch 2882: get an alert when its fair value changes →

Share or link this analysis
For bloggers & editors: embed code + live data

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). "Cathay Financial Holding Fair Value". https://www.fairvalue-calculator.com/stock/2882

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Insurance - Life · 96 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 65 · Top 25%
Fair Value upside −5% · Below median
Return on equity (TTM) 12% · Above median
Return on assets 2% · Above median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 36% · Top 25%
Revenue growth 94% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.22× · Lower than median

Valuation Multiples vs Insurance - Life median · lower = cheaper

P/E (TTM) 13.3× · Cheaper than median
P/B 1.49× · Pricier than median
P/S (TTM) 1.70× · Pricier than median
P/FCF 0.2× · Cheaper than median
EV/EBITDA 10.7× · Pricier than median
PEG 2.83× · Pricier than 75% of peers

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 27 · sector 28
FUTURE 100 · sector 44
PAST 47 · sector 42
HEALTH 89 · sector 85
DIVIDEND 0 · sector 54

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 20, 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%
Fubon Financial Holding 2881 124.50 TWD 115.05 TWD -8%
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%

Compare Cathay Financial Holding with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

Explore undervalued stocks

More undervalued Financial Services stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks

Frequently asked questions

Is Cathay Financial Holding (2882) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 94.95 TWD versus a price of 99.40 TWD, about −4% (fairly valued).
What is the fair value of 2882?
Our model-based fair value for Cathay Financial Holding is 94.95 TWD (as of Jul 20, 2026), built from audited fundamentals. The current price is 99.40 TWD.
What is the quality score of 2882?
Cathay Financial Holding has a Quality Score of 65/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Cathay Financial Holding (2882)?
Cathay Financial Holding reported trailing-twelve-month revenue of about 813B TWD (latest available figure, as of Jul 20, 2026).
What is the net profit margin of 2882?
The net profit margin of Cathay Financial Holding is about 7.7%, meaning it keeps roughly 7.7% of revenue as net income. Based on the latest reported figures.

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.

14 days Pro free · no card

Track Cathay Financial Holding and try Pro for 14 days

One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.

Zero risk: nothing is ever charged. After 14 days you decide whether to stay.