DBS Group Holdings Ltd (D05) fair value: what the stock is really worth
We calculate from audited financials what DBS Group Holdings Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 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 18, 2026.
How to read this chart
60‑month range 20.04 SGD – 78.65 SGD · fair‑value band 30.36 SGD – 50.60 SGD · the 77.36 SGD price screens above the 40.48 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 18, 2026.
DBS Group Holdings Ltd provides commercial banking and financial services in Singapore, Hong Kong, rest of Greater China, South and Southeast Asia, and internationally. It operates through Personal Banking; Institutional Banking; and Global Financial Markets segments.
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DBS Group Holdings Ltd provides commercial banking and financial services in Singapore, Hong Kong, rest of Greater China, South and Southeast Asia, and internationally. It operates through Personal Banking; Institutional Banking; and Global Financial Markets segments. The Personal Banking segment offers banking and related financial services, including current and savings accounts, fixed deposits, loans and home finance, cards, payments, investment, and insurance products for individual customers. The Institutional Banking segment provides financial services and products comprise short-term working capital financing and specialized lending; cash management, trade finance, and securities and fiduciary services; treasury and markets products; corporate finance and advisory banking services; and capital markets solutions for bank and non-bank financial institutions, government-linked companies, large corporates, and small and medium sized businesses. The Global Financial Markets segment is involved in the structuring, market-making, and trading in various treasury products. DBS Group Holdings Ltd was founded in 1968 and is headquartered in Singapore.
Stock analysis
DBS Group Holdings Ltd (D05) currently trades at 77.36 SGD, while our model-based Fair Value estimate is 40.48 SGD, implying the stock looks roughly 91.1% overvalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of 49.41 SGD per share, and 0 of the 6 models we run sit above the 77.36 SGD price.
Bear case: the Asset-Based group reads lowest at 16.26 SGD, and 6 of the 6 models stay below the price. Evidence for this calculation is medium.
Scenario range: 30.36 SGD (bear) to 50.60 SGD (bull), the price of 77.36 SGD sits above 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 59/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
DBS Group Holdings Ltd reported revenue of 22.9B SGD in FY2025 versus 14.4B SGD in FY2021, a compound +12.3%/yr. Reported net income was 10.9B SGD in FY2025, compounding +12.6%/yr from FY2021.
Key figures
Market cap 220B SGD (≈ $172B) · P/E ratio 20.1 · P/S ratio 9.62 · EPS (TTM) 3.84 SGD · Dividend yield 3.7% · Net margin 47.8% · Return on equity 15.9% · Return on assets (EBIT) 1.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 58 out of 100 (medium confidence).
What moves the price
The share trades near its 52-week high and 90% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −31% fair-value upside, at −48%, D05 screens richer than that median.
Fair Value models
Bear 30.36 SGDFair Value 40.48 SGDBull 50.60 SGD
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 (0.7088 SGD 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.89/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+3.1%
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.
+11.6%
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.
+9.4%
Revenue growth 12 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.
+8.7%
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What shareholders gained per year (last 5 years) ⓘ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.
+12.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.0%
Dividend (yield on the price)3.7%
Profit margin 2014 to 2019 ⓘ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.53% → 52%
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).
−1.0%
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.
+4.9%
Yearly sales growth analysts expect, extended to five years.
News mood ⓘNews mood, the average tone of recent news (97 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
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 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside−49% · Bottom 25%
Profitability
Return on equity (TTM)16% · Top 25%
Return on assets1% · Above median
Net margin (TTM)49% · Top 25%
Operating margin (TTM)60% · Top 25%
Growth and dividend
Revenue growth3% · Below median
Dividend yield (TTM)3.7% · Above median
Balance sheet
Debt / equity0.69× · Above median
Valuation Multiplesvs Banks - Regional median · lower = cheaper
P/E (TTM)20.1× · Priciest 25%
P/B2.34× · Priciest 25%
P/S (TTM)7.23× · Priciest 25%
P/FCF15.4× · Priciest 25%
PEG3.44× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 11
FUTURE (revenue growth)16· sector 45
PAST (return on equity)64· sector 41
HEALTH (low debt)66· sector 85
DIVIDEND (yield)74· sector 53
VALUE 0: the price sits above our fair-value range.
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). "DBS Group Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/D05
Frequently asked questions
Is DBS Group Holdings Ltd (D05) overvalued or undervalued?
As of Sep 18, 2026, our model estimates a fair value of 40.48 SGD versus a price of 77.36 SGD, about −48% upside (overvalued).
What is the fair value of D05?
Our model-based fair value for DBS Group Holdings Ltd is 40.48 SGD (as of Sep 18, 2026), built from audited fundamentals. The current price: 77.36 SGD.
What is the quality score of D05?
DBS Group Holdings Ltd has a Quality Score of 59/100. 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 DBS Group Holdings Ltd (D05)?
Our model-based price target is the fair value of 40.48 SGD (as of Sep 18, 2026) from 6 valuation models. Cautious scenario 30.36 SGD, optimistic scenario 50.60 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the DBS Group Holdings Ltd stock forecast for 2026?
Our models put fair value at 40.48 SGD, about −48% upside versus a price of 77.36 SGD (overvalued). Cautious scenario 30.36 SGD, optimistic scenario 50.60 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of DBS Group Holdings Ltd (D05)?
DBS Group Holdings Ltd reported trailing-twelve-month revenue of about 22.3B SGD (latest available figure, as of Sep 18, 2026).
Does DBS Group Holdings Ltd pay a dividend?
DBS Group Holdings Ltd currently shows a dividend yield of about 3.68% relative to its recent price (as of Sep 18, 2026).
What growth is priced into DBS Group Holdings Ltd (D05)?
For today's price to be fair in a discounted-cash-flow model, DBS Group Holdings Ltd would have to grow free cash flow by -1.0 % per year for five years (discount rate 7.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.4 % per year. As of Sep 18, 2026.
What discount rate (WACC) does the fair value of D05 use?
Our models discount DBS Group Holdings Ltd at 7.9 %: a base by market capitalisation (large), damped by beta 0.28, country premium for Singapore. 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 DBS Group Holdings Ltd that is -1.0 % per year a year over ten years, using the same discount rate (7.9 %) and the same formula as our fair value.
How much growth has DBS Group Holdings Ltd (D05) delivered so far?
Over the past 5 years revenue at DBS Group Holdings Ltd grew +9.4 % a year. The price currently implies -1.0 % 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 DBS Group Holdings Ltd (D05) growing?
The median revenue growth in the sector is +8.1 % a year. That is the yardstick for the growth priced into DBS Group Holdings Ltd (-1.0 % 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 DBS Group Holdings Ltd (D05)?
The free-cash-flow yield on the price is 4.81 %: that much free cash flow DBS Group Holdings Ltd produces per unit of market value. When it exceeds the discount rate of our models (7.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of DBS Group Holdings Ltd (D05)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For DBS Group Holdings Ltd it is 40.48 SGD per share (as of Sep 18, 2026), against a price of 77.36 SGD. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is DBS Group Holdings Ltd stock overvalued or undervalued in 2026?
As of Sep 18, 2026, D05 trades above its calculated fair value: price 77.36 SGD, fair value 40.48 SGD, a gap of about −48% (overvalued). 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 D05?
No. The price is what the market pays today (77.36 SGD); the fair value is what the company's own numbers justify (40.48 SGD). For DBS Group Holdings Ltd the two are 36.88 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is DBS Group Holdings Ltd worth?
The market values DBS Group Holdings Ltd at about 220B SGD (market capitalisation, as of Sep 18, 2026). Per share that is 77.36 SGD; our models calculate a fair value of 40.48 SGD per share.
What do the bullish and bearish scenarios say about D05?
Our models span a range for DBS Group Holdings Ltd: cautious scenario 30.36 SGD, base 40.48 SGD, optimistic 50.60 SGD per share (as of Sep 18, 2026, price 77.36 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of D05?
DBS Group Holdings Ltd trades at a price-to-earnings ratio of 20.1 (as of Sep 18, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 40.48 SGD is built from several models across several years. Other multiples: PEG 3.4, P/B 2.3, P/S 7.2.
What is the PEG ratio of D05?
The PEG ratio of DBS Group Holdings Ltd is 3.44 (P/E divided by earnings growth, as of Sep 18, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of DBS Group Holdings Ltd (D05)?
Balance-sheet figures for DBS Group Holdings Ltd (as of Sep 18, 2026): return on equity 15.9%, debt of 0.69 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is D05 from its 52-week high?
DBS Group Holdings Ltd trades at 77.36 SGD, about 19% below its 52-week high of 65.19 SGD and 90% above the low of 40.66 SGD (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of 40.48 SGD is for.
Which stocks are comparable to DBS Group Holdings Ltd?
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 DBS Group Holdings Ltd stock attractive at the current price?
The data as of Sep 18, 2026: price 77.36 SGD, calculated fair value 40.48 SGD (−48%), Quality Score 59/100, from 6 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 D05 calculated?
We run DBS Group Holdings Ltd through 6 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 40.48 SGD, 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 16.1 % above its aggregate fair value. DBS Group Holdings Ltd itself currently trades above fair value. 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 DBS Group Holdings Ltd (D05)?
The closing price on Sep 21, 2026 was 77.36 SGD. Our model-based fair value is 40.48 SGD, about −48% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with DBS Group Holdings Ltd right now?
The price sits above even our optimistic bull case (50.60 SGD). The favourable scenario is already priced in. Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder. 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 DBS Group Holdings Ltd
How large is the market capitalisation of DBS Group Holdings Ltd (D05)?
The market capitalisation of DBS Group Holdings Ltd is 220B SGD (≈ $172B). 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 DBS Group Holdings Ltd (D05)?
The price-to-sales ratio of DBS Group Holdings Ltd is 9.62 (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 DBS Group Holdings Ltd (D05)?
Earnings per share at DBS Group Holdings Ltd are 3.84 SGD (price ÷ EPS = P/E 20.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of DBS Group Holdings Ltd (D05)?
The dividend yield of DBS Group Holdings Ltd is 3.7% (payout 74.2%). 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 DBS Group Holdings Ltd (D05)?
The net margin of DBS Group Holdings Ltd is 47.8% (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 DBS Group Holdings Ltd (D05)?
The return on equity (ROE) of DBS Group Holdings Ltd is 15.9% (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 DBS Group Holdings Ltd (D05)?
On an EBIT basis the return on assets of DBS Group Holdings Ltd is 1.1% (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 DBS Group Holdings Ltd (D05)?
The operating margin of DBS Group Holdings Ltd is 60.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at DBS Group Holdings Ltd (D05)?
Revenue at DBS Group Holdings Ltd is growing +3.2% versus a year earlier (3y avg +11.6%). 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 DBS Group Holdings Ltd (D05)?
Earnings per share at DBS Group Holdings Ltd are growing −8.8% versus a year earlier. How much earnings per share grew versus a year earlier.
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Some data
Sep 18, 2026