Union Bank of India (UNIONBANK) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Union Bank of India stock ₹162, price ₹188, that is 13.9% below the price, quality 31 out of 100. Rating: overvalued. Calculated from audited financials with 6 of our 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. As of Nov 3, 2026.
How to read this chart
60‑month range ₹27.69 – ₹196.49 · fair‑value band ₹135.91 – ₹228.78 · the ₹188.00 price screens above the ₹161.89 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Union Bank of India provides banking products and services in India. It operates in four segments: Treasury Operations, Retail Banking Operations, Corporate and Wholesale Banking, and Other Banking Operations.
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The company provides its products and services to individuals, commercial enterprises, large corporates, public bodies, and institutional customers. Union Bank of India was incorporated in 1919 and is headquartered in Mumbai, India.
Stock analysis
Union Bank of India (UNIONBANK) currently trades at ₹188.00, while our model-based Fair Value estimate is ₹161.89, 14% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of ₹190.46 per share, and 2 of the 6 models we run sit above the ₹188.00 price.
Bear case: the Dividend Discount group reads lowest at ₹57.12, and 4 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: ₹135.91 (bear) to ₹228.78 (bull), the price of ₹188.00 sits inside 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 31/100 (below-average quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Union Bank of India reported revenue of ₹1.3T in FY2026 versus ₹818B in FY2022, a compound +11.5%/yr. Reported net income was ₹194B in FY2026, compounding +38.6%/yr from FY2022.
Key figures
Market cap ₹1.5T (≈ $16.4B) Large · P/E ratio 6.5 · P/S ratio 2.92 · EPS (TTM) ₹28.95 · Dividend yield 2.7% · Net margin 41.5% · Return on equity 16.3% · Return on assets (EBIT) 1.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 68 out of 100 (low confidence).
What moves the price
The share trades about 4% below its 52-week high and 31% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −35% fair-value upside, at −14%, UNIONBANK screens cheaper than that median.
Fair Value models
Bear₹135.91Fair Value ₹161.89Bull₹228.78
Price ₹188.00 · Downside -13.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹14.44 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.
Best data coverage
Residual Income₹159.89₹190.46₹269.1576
Gordon GGM₹35.24₹61.48₹82.3768
DDM Multi-Stage₹35.24₹57.12₹65.8967
All 6 models by family
Dividend Discount
Gordon GGM₹35.24₹61.48₹82.3768
DDM Multi-Stage₹35.24₹57.12₹65.8967
Multiples
P/E Multiple₹248.17₹330.90₹413.6263
P/B Multiple₹73.42₹97.90₹122.3755
Asset-Based
NCAV (Graham)₹87.04₹116.64₹174.0854
Economic Profit
Residual Income₹159.89₹190.46₹269.1576
The fair value above starts from this blend and is adjusted for dilution from new shares.
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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−2.8%
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.
+9.9%
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.
+8.7%
Start year 2021 (pandemic). Over 10 years: +13.3% a year
Revenue growth 21 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.
+15.9%
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What shareholders gained per year (last 5 years), in INR ⓘ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 INR: 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.
+33.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+31.0%
Dividend (yield on the price)2.7%
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.31.0% vs 11.0%, picking up
Profit margin 2021 to 2026 ⓘ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.3% → 20%
Pace: the 5-year rate starts in 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more 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).
+24.1%
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.
−6.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +19.1% a year for the price and −10.5% 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 · 1002 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score31 · Bottom 25%
Fair Value upside−13.9% · Above median
Profitability
Return on equity (12 months)16.3% · Top 25%
Return on assets1.2% · Above median
Net margin (12 months)41.5% · Top 25%
Operating margin (12 months)49.2% · Above median
Growth and dividend
Revenue growth (quarter YoY)15.6% · Above median
Dividend yield (12 months)2.7% · Above median
Balance sheet
Debt / equity0.21× · Below median
Valuation Multiplesvs Banks - Regional median · lower = cheaper
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). "Union Bank of India Fair Value". https://www.fairvalue-calculator.com/stock/UNIONBANK
Frequently asked questions
Is Union Bank of India (UNIONBANK) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of ₹161.89 versus a price of ₹188.00, about 14% lower (overvalued).
What is the fair value of UNIONBANK?
Our model-based fair value for Union Bank of India is ₹161.89 (as of Nov 3, 2026), built from audited fundamentals. The current price: ₹188.00.
What is the quality score of UNIONBANK?
Union Bank of India has a Quality Score of 31/100. 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 Union Bank of India (UNIONBANK)?
Our model-based price target is the fair value of ₹161.89 (as of Nov 3, 2026) from 6 valuation models. Cautious scenario ₹135.91, optimistic scenario ₹228.78. It is a calculation from audited fundamentals, not an analyst target.
What is the Union Bank of India stock forecast for 2026?
Our models put fair value at ₹161.89, about 14% lower versus a price of ₹188.00 (overvalued). Cautious scenario ₹135.91, optimistic scenario ₹228.78. The calculation is refreshed regularly with new filings.
What is the revenue of Union Bank of India (UNIONBANK)?
Union Bank of India reported trailing-twelve-month revenue of about ₹531B (latest available figure, as of Nov 3, 2026).
Does Union Bank of India pay a dividend?
Union Bank of India currently shows a dividend yield of 2.66% relative to its recent price (as of Nov 3, 2026).
What growth is priced into Union Bank of India (UNIONBANK)?
For today's price to be fair in a discounted-cash-flow model, Union Bank of India would have to grow free cash flow by +24.1 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.7 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of UNIONBANK use?
Our models discount Union Bank of India at 11.6 %: a base by market capitalisation (large), damped by beta 0.92, country premium for India. 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 Union Bank of India that is +24.1 % per year a year over ten years, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has Union Bank of India (UNIONBANK) delivered so far?
Over the past 5 years revenue at Union Bank of India grew +8.7 % a year. The price currently implies +24.1 % 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 Union Bank of India (UNIONBANK) growing?
The median revenue growth in the sector is +9.4 % a year. That is the yardstick for the growth priced into Union Bank of India (+24.1 % 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 Union Bank of India (UNIONBANK)?
The free-cash-flow yield on the price is 2.57 %: that much free cash flow Union Bank of India produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Union Bank of India (UNIONBANK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Union Bank of India it is ₹161.89 per share (as of Nov 3, 2026), against a price of ₹188.00. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Union Bank of India stock overvalued or undervalued in 2026?
As of Nov 3, 2026, UNIONBANK trades above its calculated fair value: price ₹188.00, fair value ₹161.89, a gap of about −14% (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 UNIONBANK?
No. The price is what the market pays today (₹188.00); the fair value is what the company's own numbers justify (₹161.89). For Union Bank of India the two are ₹26.11 per share apart. That gap is exactly why we show both numbers side by side.
How much is Union Bank of India worth?
The market values Union Bank of India at about ₹1.5T (market capitalisation, as of Nov 3, 2026). Per share that is ₹188.00; our models calculate a fair value of ₹161.89 per share.
What do the bullish and bearish scenarios say about UNIONBANK?
Our models span a range for Union Bank of India: cautious scenario ₹135.91, base ₹161.89, optimistic ₹228.78 per share (as of Nov 3, 2026, price ₹188.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of UNIONBANK?
Union Bank of India trades at a price-to-earnings ratio of 6.5 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹161.89 is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2017 to 2026), reported earnings: 7.0. Other multiples: P/B 1.2, P/S 2.9, EV/EBITDA 3.4.
How solid is the balance sheet of Union Bank of India (UNIONBANK)?
Balance-sheet figures for Union Bank of India (as of Nov 3, 2026): return on equity 16.3%, debt of 0.21 per unit of equity. They feed the Quality Score of 31/100, which measures business quality independently of the share price.
How far is UNIONBANK from its 52-week high?
Union Bank of India trades at ₹188.00, about 4% below its 52-week high of ₹196.49 and 31% above the low of ₹143.83 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of ₹161.89 is for.
Which stocks are comparable to Union Bank of India?
From the same area (Financial Services) we also value China Merchants Bank Co, DBS Group, UniCredit S.p.A, Mizuho Financial Group, 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 Union Bank of India stock attractive at the current price?
The data as of Nov 3, 2026: price ₹188.00, calculated fair value ₹161.89 (−14%), Quality Score 31/100, 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 UNIONBANK calculated?
We run Union Bank of India 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 ₹161.89, 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 15.5% above its aggregate fair value. Union Bank of India 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 Union Bank of India (UNIONBANK)?
The closing price on Nov 5, 2026 was ₹188.00. Our model-based fair value is ₹161.89, about 14% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Union Bank of India right now?
For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly. The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Union Bank of India (UNIONBANK) come from?
Earnings per share at Union Bank of India grew +19.0 % a year from 2015 to 2026. Broken into its drivers: revenue per share +1.7 %, EBIT margin +21.1 %, tax rate −3.4 %, residual (interest, one-offs) +0.0 %. 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 Union Bank of India
How large is the market capitalisation of Union Bank of India (UNIONBANK)?
The market capitalisation of Union Bank of India is ₹1.5T (≈ $16.4B). 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 Union Bank of India (UNIONBANK)?
The price-to-sales ratio of Union Bank of India is 2.92 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Union Bank of India (UNIONBANK)?
Earnings per share at Union Bank of India are ₹28.95 (price ÷ EPS = P/E 6.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Union Bank of India (UNIONBANK)?
The dividend yield of Union Bank of India is 2.7% (payout 17.3%). 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 Union Bank of India (UNIONBANK)?
The net margin of Union Bank of India is 41.5% (last twelve months). 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 Union Bank of India (UNIONBANK)?
The return on equity (ROE) of Union Bank of India is 16.3% (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 Union Bank of India (UNIONBANK)?
On an EBIT basis the return on assets of Union Bank of India is 1.2% (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 Union Bank of India (UNIONBANK)?
The operating margin of Union Bank of India is 49.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Union Bank of India (UNIONBANK)?
Revenue at Union Bank of India is growing +15.6% versus a year earlier (3y avg +9.9%). 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 Union Bank of India (UNIONBANK)?
Earnings per share at Union Bank of India are growing +29.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Union Bank of India (UNIONBANK) hold?
Union Bank of India holds more cash than debt, ₹182B net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 3, 2026