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The Shanghai Commercial & Savings Bank, Ltd (5876) Fair Value & Analysis

Financial Services · TW · Market cap 219B TWD

TS The Shanghai Commercial & Savings Bank, Ltd 5876 · TW
Price43.45 TWD
Fair Value33.78 TWD
Upside-22.3%
Quality29/100
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Expensive Growth
Highly profitable · 39.1% net margin
Low debt · negative free cash flow
Trails peers (4/13)
Moderate moat 59/100
Evidence: High Range 25.34 TWD – 42.23 TWD Share as image

Fair value as of: Jul 17, 2026

From 6 valuation models · updated 23 days ago

Share price +2.1% over the past month.

Below-average quality, and screening another 22% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (42.23 TWD). The favourable scenario is already priced in.
  • Weak quality (29/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • 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)

50.93 TWD 35.17 TWD Fair Value 33.78 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range 35.17 TWD – 50.93 TWD · fair‑value band 25.34 TWD – 42.23 TWD · the 43.45 TWD price screens above the 33.78 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

The Shanghai Commercial & Savings Bank, Ltd (5876) currently trades at 43.45 TWD, while our model-based Fair Value estimate is 33.78 TWD, implying the stock looks roughly 22.3% overvalued today. The Quality Score stands at 29/100 (below-average 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, The Shanghai Commercial & Savings Bank, Ltd generated revenue of 39.0B TWD at a net margin of 39.1%. Revenue grew 10.8% year over year. It earns a return on equity of 6.3%. Net debt stands at 36.8B TWD. Fundamentals as of Jul 17, 2026

Our scenario range runs from 25.34 TWD (bear case) to 42.23 TWD (bull case); at 43.45 TWD, the current price sits above 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 9% below its 52-week high and 16% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at -22%, 5876 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
Residual Income 35.22 TWD 37.55 TWD 41.26 TWD 76
Gordon GGM 17.34 TWD 37.85 TWD 63.68 TWD 70
P/E Multiple 29.81 TWD 39.74 TWD 49.68 TWD 63
All 6 models by family
Dividend Discount
Gordon GGM 17.34 TWD 37.85 TWD 63.68 TWD 70
DDM Multi-Stage 17.34 TWD 30.70 TWD 39.44 TWD 61
Multiples
P/E Multiple 29.81 TWD 39.74 TWD 49.68 TWD 63
P/B Multiple 38.98 TWD 51.97 TWD 64.96 TWD 55
Asset-Based
NCAV (Graham) 21.12 TWD 28.31 TWD 42.25 TWD 50
Economic Profit
Residual Income 35.22 TWD 37.55 TWD 41.26 TWD 76

Widest divergence: Multiples (39.74 TWD) versus Asset-Based (28.31 TWD). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 39.0B TWD
Revenue growth (YoY) +10.8%
Net margin 39.1%
Return on equity 6.3%
Free cash flow −30.3B TWD FY2025
P/E ratio 14.8
More key figures
Operating margin 59.4%
EPS (TTM) 3.06 TWD
EPS growth (YoY) +9.4%
Net debt 36.8B TWD FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 29/100

Of which business quality 22 · Market factors (momentum, volatility) 64

Profitability 26
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 10
Balance sheet, leverage, solvency risk
Investment 87
Disciplined investing over empire-building
Low Volatility 98
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 52
Distance to the 52-week high (market factor)
Net Issuance 3
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

The Shanghai Commercial & Savings Bank, Ltd. provides various commercial banking services in Taiwan and Hong Kong. The company offers time, savings, demand, checking, and negotiable certificate of deposit accounts, as well as remittance services.

Full company description

The Shanghai Commercial & Savings Bank, Ltd. provides various commercial banking services in Taiwan and Hong Kong. The company offers time, savings, demand, checking, and negotiable certificate of deposit accounts, as well as remittance services. In addition, it offers traveling, human resources, insurance, microfinance, leasing, real estate, nominee, trustee, commodity trading, property holding, IT application, securities brokerage, and property management services. Further, the company is involved in the purchase, evaluation, auction, and management of creditor's right of financial institutions; and investing in exchange fund bills and notes, and bonds. The Shanghai Commercial & Savings Bank, Ltd. was founded in 1915 and is headquartered in Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

The Shanghai Commercial & Savings Bank, Ltd reported revenue of 92.3B TWD in FY2025 versus 47.0B TWD in FY2021, a compound +18.4%/yr. Reported net income was 14.8B TWD in FY2025, compounding +1.0%/yr from FY2021.

Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
92.3B TWD
Latest YoY
−5.7%
Avg. growth/yr (3Y)
+14.9%
Avg. growth/yr (5Y)
+11.6%
Avg. growth/yr (20Y)
+6.0%
Revenue +18.4%/yr
FY21 47.0B TWD
FY22 60.9B TWD
FY23 90.6B TWD
FY24 97.9B TWD
FY25 92.3B TWD
Net income +1.0%/yr
FY21 14.3B TWD
FY22 14.9B TWD
FY23 14.7B TWD
FY24 13.5B TWD
FY25 14.8B TWD

5876 screens 22% overvalued. Compare with PT Bank Central Asia Tbk →

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Cite: Fair Value Calculator (2026). "The Shanghai Commercial & Savings Bank, Ltd Fair Value". https://www.fairvalue-calculator.com/stock/5876

Peer Group

Banks - Regional · 1083 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 28 · Bottom 25%
Fair Value upside −22% · Below median
Return on equity (TTM) 6% · Below median
Return on assets 1% · Below median
Net margin (TTM) 39% · Top 25%
Operating margin (TTM) 59% · Top 25%
Revenue growth 11% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.33× · Higher than median

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 14.8× · Pricier than median
P/B 1.07× · Cheaper than median
P/S (TTM) 5.62× · Pricier than 75% of peers
EV/EBITDA 10.7× · 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 4 · sector 39
FUTURE 54 · sector 44
PAST 25 · sector 41
HEALTH 84 · sector 85
DIVIDEND 0 · sector 49

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 Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
PT Bank Central Asia Tbk BBCA 6,175 IDR 6,087 IDR -1%
KB Financial Group 105560 184,400 KRW 213,797 KRW +16%
PT Bank Rakyat Indonesia (Persero) Tbk BBRI 2,970 IDR 4,891 IDR +65%
PT Bank Mandiri (Persero) Tbk BMRI 4,310 IDR 7,841 IDR +82%
Banco Bradesco S.A BBD 5,120 ARS 10,240 ARS +100%
Shinhan Financial Group 055550 107,900 KRW 137,259 KRW +27%
Hana Financial Group 086790 136,800 KRW 193,969 KRW +42%
Lloyds Banking Group LYG 4,138 ARS 8,275 ARS +100%
Banco de Chile, CHILE 193.10 CLP 152.55 CLP -21%
Joint Stock Commercial Bank for Foreign Trade of Vietnam, VCB 59,400 VND 84,201 VND +42%

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Frequently asked questions

Is The Shanghai Commercial & Savings Bank, Ltd (5876) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 33.78 TWD versus a price of 43.45 TWD, about −22% (overvalued).
What is the fair value of 5876?
Our model-based fair value for The Shanghai Commercial & Savings Bank, Ltd is 33.78 TWD (as of Jul 17, 2026), built from audited fundamentals. The current price is 43.45 TWD.
What is the quality score of 5876?
The Shanghai Commercial & Savings Bank, Ltd has a Quality Score of 29/100. 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 The Shanghai Commercial & Savings Bank, Ltd (5876)?
The Shanghai Commercial & Savings Bank, Ltd reported trailing-twelve-month revenue of about 39.0B TWD (latest available figure, as of Jul 17, 2026).
What is the net profit margin of 5876?
The net profit margin of The Shanghai Commercial & Savings Bank, Ltd is about 39.1%, meaning it keeps roughly 39.1% 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.

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