BDO Unibank Inc (BDOUY) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of BDO Unibank Inc $25.16, price $17.97, upside +40.0%, quality 54 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 23, 2026.
How to read this chart
60‑month range $13.59 – $28.75 · fair‑value band $19.13 – $37.83 · the $17.97 price screens below the $25.16 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.
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BDO Unibank, Inc., together with its subsidiaries, provides various banking products and services to individuals and corporations in the Philippines and internationally. The company operates through Commercial Banking, Investment Banking, Private Banking, Leasing and Financing, Insurance, and other segments.
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BDO Unibank, Inc., together with its subsidiaries, provides various banking products and services to individuals and corporations in the Philippines and internationally. The company operates through Commercial Banking, Investment Banking, Private Banking, Leasing and Financing, Insurance, and other segments. It offers checking, savings and time deposit, and foreign currency accounts; and personal and business loans, such as home, auto, SME, project finance, term, and working capital. The company also provides insurance products, including life and non-life insurance, and corporate insurance; debit, credit, and corporate cards; and securities underwriting, loan syndication, underwriting, placing of debt and equity securities, financial advisory, and securities brokerage services. In addition, it engages in the leasing and sale of property; cash management; realty management; remittances; leasing products, such as finance and operating lease, receivable factoring, mortgage loans, amortized commercial loan, installment paper purchase, and floor stock financing; capital markets; international banking; and online, mobile, and phone banking services. Further, the company provides trade settlements, export bills purchases, and letters of credit; and merchant and point-of-sale solutions, and institutional trust management services. BDO Unibank, Inc. was incorporated in 1967 and is headquartered in Makati City, the Philippines.
Stock analysis
BDO Unibank Inc ADR (BDOUY) currently trades at $17.97, while our model-based Fair Value estimate is $25.16, implying the stock looks roughly 28.6% undervalued today.
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Valuation
How firm this estimate is: it rests on 26 models at a data quality of 95/100, which puts the evidence level at high.
Scenario range: $19.13 (bear) to $37.83 (bull), the price of $17.97 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 54/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
BDO Unibank Inc ADR reported revenue of 369B PHP in FY2025 versus 188B PHP in FY2021, a compound +18.3%/yr. Reported net income was 87.6B PHP in FY2025, compounding +19.6%/yr from FY2021.
Key figures
Market cap $11.6B · P/E ratio 6.8 · P/S ratio 1.61 · EPS (TTM) $2.65 · Dividend yield 3.3% · Net margin 23.8% · Return on equity 14.2% · Return on assets (EBIT) 2.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (medium confidence).
What moves the price
The share trades about 24% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −38% fair-value upside, at 40%, BDOUY screens cheaper than that median.
Fair Value models
Bear $19.13Fair Value $25.16Bull $37.83
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.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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
What shareholders gained per year (last 5 years), in PHP ⓘ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. Measured in PHP: 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.
+18.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.1%
Dividend (yield on the price)3.3%
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.15% vs 12%, picking up
Profit margin 2019 to 2024 ⓘ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.29% → 51%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less 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).
−21.8%
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.
+2.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in PHP, Philippines: IMF forecast 3.3% a year to 2030, 3.5% from 2016 to 2025) that is about −24.3% a year for the price and −0.4% for the forecasts.
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.Banks - Regional · 1074 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score53 · Below median
Fair Value upside+40% · Top 25%
Profitability
Return on equity (TTM)14% · Top 25%
Return on assets2% · Top 25%
Net margin (TTM)32% · Above median
Operating margin (TTM)37% · Below median
Growth and dividend
Revenue growth6% · Below median
Dividend yield (TTM)3.3% · Above median
Balance sheet
Debt / equity0.14× · Below median
Valuation Multiplesvs Banks - Regional median · lower = cheaper
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Is BDO Unibank Inc (BDOUY) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $25.16 versus a price of $17.97, about +40% upside (undervalued).
What is the fair value of BDOUY?
Our model-based fair value for BDO Unibank Inc ADR is $25.16 (as of Sep 23, 2026), built from audited fundamentals. The current price: $17.97.
What is the quality score of BDOUY?
BDO Unibank Inc ADR has a Quality Score of 54/100. 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 BDO Unibank Inc (BDOUY)?
Our model-based price target is the fair value of $25.16 (as of Sep 23, 2026) from 4 valuation models. Cautious scenario $19.13, optimistic scenario $37.83. It is a calculation from audited fundamentals, not an analyst target.
What is the BDO Unibank Inc ADR stock forecast for 2026?
Our models put fair value at $25.16, about +40% upside versus a price of $17.97 (undervalued). Cautious scenario $19.13, optimistic scenario $37.83. The calculation is refreshed regularly with new filings.
What is the revenue of BDO Unibank Inc (BDOUY)?
BDO Unibank Inc ADR reported trailing-twelve-month revenue of about 277B PHP (latest available figure, as of Sep 23, 2026).
Does BDO Unibank Inc ADR pay a dividend?
BDO Unibank Inc ADR currently shows a dividend yield of about 3.33% relative to its recent price (as of Sep 23, 2026).
What growth is priced into BDO Unibank Inc (BDOUY)?
For today's price to be fair in a discounted-cash-flow model, BDO Unibank Inc ADR would have to grow free cash flow by -21.8 % per year for five years (discount rate 8.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.3 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of BDOUY use?
Our models discount BDO Unibank Inc ADR at 8.1 %: a base by market capitalisation (large), damped by beta 0.49, country premium for USA. 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 BDO Unibank Inc ADR that is -21.8 % per year a year over ten years, using the same discount rate (8.1 %) and the same formula as our fair value.
How much growth has BDO Unibank Inc (BDOUY) delivered so far?
Over the past 5 years revenue at BDO Unibank Inc ADR grew +13.3 % a year. The price currently implies -21.8 % 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 BDO Unibank Inc (BDOUY) growing?
The median revenue growth in the sector is +8.4 % a year. That is the yardstick for the growth priced into BDO Unibank Inc ADR (-21.8 % 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 BDO Unibank Inc (BDOUY)?
The free-cash-flow yield on the price is 13.89 %: that much free cash flow BDO Unibank Inc ADR produces per unit of market value. When it exceeds the discount rate of our models (8.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of BDO Unibank Inc (BDOUY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For BDO Unibank Inc ADR it is $25.16 per share (as of Sep 23, 2026), against a price of $17.97. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is BDO Unibank Inc ADR stock overvalued or undervalued in 2026?
As of Sep 23, 2026, BDOUY trades below its calculated fair value: price $17.97, fair value $25.16, a gap of about +40% (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 BDOUY?
No. The price is what the market pays today ($17.97); the fair value is what the company's own numbers justify ($25.16). For BDO Unibank Inc ADR the two are $7.19 per share apart. That gap is exactly why we show both numbers side by side.
How much is BDO Unibank Inc ADR worth?
The market values BDO Unibank Inc ADR at about $11.6B (market capitalisation, as of Sep 23, 2026). Per share that is $17.97; our models calculate a fair value of $25.16 per share.
What do the bullish and bearish scenarios say about BDOUY?
Our models span a range for BDO Unibank Inc ADR: cautious scenario $19.13, base $25.16, optimistic $37.83 per share (as of Sep 23, 2026, price $17.97). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BDOUY?
BDO Unibank Inc ADR trades at a price-to-earnings ratio of 6.8 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $25.16 is built from several models across several years. Other multiples: P/B 1.1, P/S 2.6, EV/EBITDA 5.5.
How solid is the balance sheet of BDO Unibank Inc (BDOUY)?
Balance-sheet figures for BDO Unibank Inc ADR (as of Sep 23, 2026): return on equity 14.2%, debt of 0.14 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is BDOUY from its 52-week high?
BDO Unibank Inc ADR trades at $17.97, about 24% below its 52-week high of $23.79 and at the low of $17.94 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $25.16 is for.
Which stocks are comparable to BDO Unibank Inc ADR?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, Intesa Sanpaolo S.p.A, HDFC Bank Limited, 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 BDO Unibank Inc ADR stock attractive at the current price?
The data as of Sep 23, 2026: price $17.97, calculated fair value $25.16 (+40%), Quality Score 54/100, 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 BDOUY calculated?
We run BDO Unibank Inc ADR 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 $25.16, 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. BDO Unibank Inc ADR currently trades 40 % 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 BDO Unibank Inc (BDOUY)?
The closing price on Sep 23, 2026 was $17.97. Our model-based fair value is $25.16, about +40% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with BDO Unibank Inc ADR right now?
The price is below even our cautious bear case ($19.13). The market is more pessimistic than our downside scenario. Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($19.13 to $37.83) 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 BDO Unibank Inc (BDOUY) come from?
Earnings per share at BDO Unibank Inc ADR grew +12.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share +10.4 %, EBIT margin +2.5 %, tax rate −0.4 %, residual (interest, one-offs) −0.6 %. 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 BDO Unibank Inc ADR
How large is the market capitalisation of BDO Unibank Inc (BDOUY)?
The market capitalisation of BDO Unibank Inc ADR is $11.6B. 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 BDO Unibank Inc (BDOUY)?
The price-to-sales ratio of BDO Unibank Inc ADR is 1.61 (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 BDO Unibank Inc (BDOUY)?
Earnings per share at BDO Unibank Inc ADR are $2.65 (price ÷ EPS = P/E 6.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of BDO Unibank Inc (BDOUY)?
The dividend yield of BDO Unibank Inc ADR is 3.3% (payout 22.6%). 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 BDO Unibank Inc (BDOUY)?
The net margin of BDO Unibank Inc ADR is 23.8% (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 BDO Unibank Inc (BDOUY)?
The return on equity (ROE) of BDO Unibank Inc ADR is 14.2% (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 BDO Unibank Inc (BDOUY)?
On an EBIT basis the return on assets of BDO Unibank Inc ADR is 2.0% (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 BDO Unibank Inc (BDOUY)?
The operating margin of BDO Unibank Inc ADR is 36.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at BDO Unibank Inc (BDOUY)?
Revenue at BDO Unibank Inc ADR is growing +5.6% versus a year earlier (3y avg +22.6%). 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 BDO Unibank Inc (BDOUY)?
Earnings per share at BDO Unibank Inc ADR are growing +1.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does BDO Unibank Inc (BDOUY) carry?
The net debt of BDO Unibank Inc ADR is 55.8B PHP (fiscal year 2025, ≈ 0.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Sep 23, 2026