United Overseas Bank
United Overseas Bank Limited provides financial products and services. The last earnings update was 20 days ago. More info.
Add to Portfolio Compare Print
U11 Share Price and Events
7 Day Returns
1 Year Returns
U11 Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| United Overseas Bank (U11) | -2.3% | -9% | -5.6% | -16.1% | 36.1% | 11.2% |
| Asia Banks | 1.5% | -5.9% | -2% | -12.1% | 34.6% | 13.3% |
| SG Market | -1.1% | -4.5% | -3% | -9.4% | 9.7% | -8% |
1 Year Return vs Industry and Market
- U11 underperformed the Banks industry which returned -12.1% over the past year.
- U11 underperformed the Market in Singapore which returned -9.4% over the past year.
U11 Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
United Overseas Bank
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for United Overseas Bank.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | Excess Returns Model | |
| Stable EPS |
Weighted future Return on Equity estimates from 17 analysts.
= Stable Book Value * Return on Equity = SGD24.28 * 11.3% |
SGD2.74 |
| Book Value of Equity per Share | Weighted future Book Value estimates from 17 analysts. | SGD24.28 |
| Discount Rate (Cost of Equity) | See below | 7.9% |
| Perpetual Growth Rate | 10-Year SG Government Bond Rate | 2.3% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year SG Govt Bond Rate | 2.3% |
| Equity Risk Premium | S&P Global | 6% |
| Banks Unlevered Beta | Simply Wall St/ S&P Global | 0.59 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.586 (1 + (1- 17%) (66.43%)) |
0.939 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.94 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.3% + (0.939 * 5.96%) |
7.9% |
Discounted Cash Flow Calculation for SGX:U11 using Excess Returns Model Model
The calculations below outline how an intrinsic value for United Overseas Bank is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.
In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.
The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.
Note the calculations below are per share.
See our documentation to learn about this calculation.
| Calculation | Result | |
|---|---|---|
| Excess Returns |
= (Stable Return on equity – Cost of equity) (Book Value of
Equity per share)
= (11.3% – 7.9%) * SGD24.28) |
SGD0.82 |
| Terminal Value of Excess Returns |
= Excess Returns / (Cost of Equity -
Expected Growth Rate)
= SGD0.82 / (7.9% - 2.3%) |
SGD14.74 |
| Value of Equity |
= Book Value per share + Terminal Value of
Excess Returns
= SGD24.28 + SGD14.74 |
SGD39.03 |
| Calculation | Result | |
|---|---|---|
| Value per share (SGD) | From above. | SGD39.03 |
| Current discount | Discount to share price of
SGD24.53
= -1 x (SGD24.53 - SGD39.03) / SGD39.03 |
37.1% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- United Overseas Bank's share price is below the future cash flow value, and at a moderate discount (> 20%).
- United Overseas Bank's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for United Overseas Bank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
United Overseas Bank's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in SGD | SGD2.38 |
| SGX:U11 Share Price ** | SGX (2019-05-22) in SGD | SGD24.53 |
| Asia Banks Industry PE Ratio | Median Figure of 55 Publicly-Listed Banks Companies | 10.14x |
| Singapore Market PE Ratio | Median Figure of 322 Publicly-Listed Companies | 12.49x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of United Overseas Bank.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = SGX:U11 Share Price ÷ EPS (both in SGD) = 24.53 ÷ 2.38 |
10.29x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- United Overseas Bank is overvalued based on earnings compared to the Asia Banks industry average.
- United Overseas Bank is good value based on earnings compared to the Singapore market.
Price based on expected Growth
Does
United Overseas Bank's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 10.29x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts |
6.5%per year |
| Asia Banks Industry PEG Ratio | Median Figure of 38 Publicly-Listed Banks Companies | 1.02x |
| Singapore Market PEG Ratio | Median Figure of 120 Publicly-Listed Companies | 1.55x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 10.29x ÷ 6.5% |
1.59x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- United Overseas Bank is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
United Overseas Bank's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in SGD | SGD23.41 |
| SGX:U11 Share Price * | SGX (2019-05-22) in SGD | SGD24.53 |
| Asia Banks Industry PB Ratio | Median Figure of 74 Publicly-Listed Banks Companies | 0.68x |
| Singapore Market PB Ratio | Median Figure of 432 Publicly-Listed Companies | 0.71x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = SGX:U11 Share Price ÷ Book Value per Share (both in SGD) = 24.53 ÷ 23.41 |
1.05x |
* Primary Listing of United Overseas Bank.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- United Overseas Bank is overvalued based on assets compared to the Asia Banks industry average.
Value checks
We assess United Overseas Bank's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check) United Overseas Bank has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
U11 Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- United Overseas Bank's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
- United Overseas Bank's earnings growth is expected to exceed the Singapore market average.
- United Overseas Bank's revenue growth is expected to exceed the Singapore market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| SGX:U11 Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts | 6.5% |
| SGX:U11 Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 17 Analysts | 6.9% |
| Asia Banks Industry Earnings Growth Rate | Market Cap Weighted Average | 11.6% |
| Asia Banks Industry Revenue Growth Rate | Market Cap Weighted Average | 10.9% |
| Singapore Market Earnings Growth Rate | Market Cap Weighted Average | 5.7% |
| Singapore Market Revenue Growth Rate | Market Cap Weighted Average | 4.8% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 17 Analyst Estimates (S&P Global) | See Below |
| Date (Data in SGD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | ||||
| 2021-12-31 | 11,193 | 4,793 | 13 | |
| 2020-12-31 | 10,548 | 4,472 | 16 | |
| 2019-12-31 | 9,840 | 4,227 | 15 |
| Date (Data in SGD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 8,889 | -32,087 | 3,971 |
| 2018-12-31 | 8,724 | -27,333 | 3,897 |
| 2018-09-30 | 8,728 | -30,362 | 3,845 |
| 2018-06-30 | 8,441 | -31,267 | 3,691 |
| 2018-03-31 | 8,118 | -13,734 | 3,459 |
| 2017-12-31 | 7,835 | -14,278 | 3,288 |
| 2017-09-30 | 7,642 | -18,121 | 3,182 |
| 2017-06-30 | 7,554 | -19,668 | 3,090 |
| 2017-03-31 | 7,481 | -21,077 | 3,045 |
| 2016-12-31 | 7,467 | -27,972 | 3,004 |
| 2016-09-30 | 7,460 | -21,799 | 3,040 |
| 2016-06-30 | 7,531 | -18,415 | 3,107 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 17 Analyst Estimates (S&P Global) | See Below |
All data from United Overseas Bank Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in SGD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | ||||
| 2021-12-31 | 2.86 | 3.08 | 2.70 | 12.00 |
| 2020-12-31 | 2.64 | 2.79 | 2.41 | 17.00 |
| 2019-12-31 | 2.50 | 2.58 | 2.36 | 17.00 |
| Date (Data in SGD Millions) | EPS * |
|---|---|
| 2019-03-31 | 2.38 |
| 2018-12-31 | 2.34 |
| 2018-09-30 | 2.31 |
| 2018-06-30 | 2.21 |
| 2018-03-31 | 2.08 |
| 2017-12-31 | 1.99 |
| 2017-09-30 | 1.91 |
| 2017-06-30 | 1.86 |
| 2017-03-31 | 1.86 |
| 2016-12-31 | 1.86 |
| 2016-09-30 | 1.86 |
| 2016-06-30 | 1.93 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess United Overseas Bank's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Asia market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Asia market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
United Overseas Bank has a total score of 3/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
U11 Past Performance
How has United Overseas Bank performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- United Overseas Bank's year on year earnings growth rate has been positive over the past 5 years.
- United Overseas Bank's 1-year earnings growth exceeds its 5-year average (14.8% vs 4.8%)
- United Overseas Bank's earnings growth has exceeded the Asia Banks industry average in the past year (14.8% vs 6.3%).
Earnings and Revenue History
All data from United Overseas Bank Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in SGD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 8,888.65 | 3,970.94 | 2,818.52 | |
| 2018-12-31 | 8,723.65 | 3,896.94 | 2,768.52 | |
| 2018-09-30 | 8,728.21 | 3,844.97 | 2,783.33 | |
| 2018-06-30 | 8,441.21 | 3,690.97 | 2,705.33 | |
| 2018-03-31 | 8,118.21 | 3,458.97 | 2,629.33 | |
| 2017-12-31 | 7,835.21 | 3,287.97 | 2,556.33 | |
| 2017-09-30 | 7,642.49 | 3,181.85 | 2,455.83 | |
| 2017-06-30 | 7,554.49 | 3,089.85 | 2,418.83 | |
| 2017-03-31 | 7,481.49 | 3,044.85 | 2,399.83 | |
| 2016-12-31 | 7,467.49 | 3,003.85 | 2,373.83 | |
| 2016-09-30 | 7,460.10 | 3,039.56 | 2,381.99 | |
| 2016-06-30 | 7,531.10 | 3,106.56 | 2,400.99 | |
| 2016-03-31 | 7,440.10 | 3,068.56 | 2,389.99 | |
| 2015-12-31 | 7,376.10 | 3,103.56 | 2,374.99 | |
| 2015-09-30 | 7,170.03 | 3,104.90 | 2,292.11 | |
| 2015-06-30 | 7,052.03 | 3,113.90 | 2,220.11 | |
| 2015-03-31 | 7,016.03 | 3,159.90 | 2,158.11 | |
| 2014-12-31 | 6,822.03 | 3,146.90 | 2,112.11 | |
| 2014-09-30 | 6,740.37 | 3,132.75 | 2,112.61 | |
| 2014-06-30 | 6,511.37 | 2,995.75 | 2,077.61 | |
| 2014-03-31 | 6,344.37 | 2,970.75 | 2,037.61 | |
| 2013-12-31 | 6,291.37 | 2,904.75 | 2,003.61 | |
| 2013-09-30 | 6,133.00 | 2,931.00 | 1,984.00 | |
| 2013-06-30 | 6,098.00 | 2,908.00 | 1,957.00 | |
| 2013-03-31 | 6,034.00 | 2,837.00 | 1,911.00 | |
| 2012-12-31 | 6,019.00 | 2,803.00 | 1,866.00 | |
| 2012-09-30 | 5,827.74 | 2,561.99 | 1,782.31 | |
| 2012-06-30 | 5,544.74 | 2,375.99 | 1,730.31 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- United Overseas Bank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- United Overseas Bank used its assets more efficiently than the Asia Banks industry average last year based on Return on Assets.
- Unable to establish if United Overseas Bank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
Past performance checks
We assess United Overseas Bank's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
United Overseas Bank has a total score of 4/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
U11 Health
This company is a bank or financial institution.Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Balance sheet
Assets
Liabilities and shares
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from United Overseas Bank Company Filings, last reported 1 month ago.
| Date (Data in SGD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 39,188.00 | 27,515.00 | 80,070.00 |
| 2018-12-31 | 37,812.79 | 36,445.61 | 78,062.09 |
| 2018-09-30 | 36,958.00 | 23,906.00 | 75,922.00 |
| 2018-06-30 | 37,850.00 | 27,756.00 | 84,001.00 |
| 2018-03-31 | 38,065.00 | 24,409.00 | 73,303.00 |
| 2017-12-31 | 37,036.60 | 30,709.15 | 80,703.19 |
| 2017-09-30 | 35,329.00 | 25,655.00 | 73,388.00 |
| 2017-06-30 | 34,830.00 | 26,625.00 | 71,259.00 |
| 2017-03-31 | 33,914.00 | 26,115.00 | 65,410.00 |
| 2016-12-31 | 33,041.79 | 32,980.06 | 68,542.59 |
| 2016-09-30 | 32,584.00 | 19,388.00 | 58,332.00 |
| 2016-06-30 | 31,439.00 | 18,878.00 | 57,016.00 |
| 2016-03-31 | 30,788.00 | 20,662.00 | 66,355.00 |
| 2015-12-31 | 30,923.77 | 26,257.36 | 63,572.66 |
| 2015-09-30 | 30,363.00 | 19,849.00 | 68,710.00 |
| 2015-06-30 | 30,712.00 | 16,834.00 | 60,590.00 |
| 2015-03-31 | 31,038.00 | 18,696.00 | 63,686.00 |
| 2014-12-31 | 29,772.01 | 27,337.28 | 65,440.56 |
| 2014-09-30 | 28,809.00 | 23,004.00 | 59,257.00 |
| 2014-06-30 | 28,289.00 | 24,060.00 | 54,833.00 |
| 2014-03-31 | 27,452.00 | 22,997.00 | 57,906.00 |
| 2013-12-31 | 26,577.26 | 24,859.10 | 59,063.40 |
| 2013-09-30 | 25,379.00 | 17,022.00 | 46,878.00 |
| 2013-06-30 | 25,775.00 | 16,615.00 | 46,813.00 |
| 2013-03-31 | 26,261.00 | 14,801.00 | 45,643.00 |
| 2012-12-31 | 25,272.00 | 12,800.00 | 44,544.00 |
| 2012-09-30 | 24,433.00 | 12,630.00 | 41,498.00 |
| 2012-06-30 | 23,949.00 | 12,016.00 | 38,184.00 |
BANK ANALYSIS
This company is a bank or financial institution, which is analysed accordingly below.
- United Overseas Bank has an acceptable proportion of non-loan assets held.
- United Overseas Bank's liabilities are made up of primarily low risk sources of funding.
- Loans at United Overseas Bank are broadly funded by customer deposits.
- United Overseas Bank's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
- United Overseas Bank has a low allowance for bad loans.
- United Overseas Bank has an acceptable level of bad loans (less than 2%).
Financial health checks
We assess United Overseas Bank's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) United Overseas Bank has a total score of 5/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
U11 Dividends
What is United Overseas Bank's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
SGD2,000 of
United Overseas Bank
shares you are expected to receive
SGD98
in your first year as a dividend.
Dividend Amount
- United Overseas Bank's pays a higher dividend yield than the bottom 25% of dividend payers in Singapore (2.54%).
- United Overseas Bank's dividend is below the markets top 25% of dividend payers in Singapore (5.75%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 17 Analyst Estimates (S&P Global) | See Below |
| Asia Banks Industry Average Dividend Yield | Market Cap Weighted Average of 50 Stocks | 4.4% |
| Singapore Market Average Dividend Yield | Market Cap Weighted Average of 276 Stocks | 4% |
| Singapore Minimum Threshold Dividend Yield | 10th Percentile | 1.6% |
| Singapore Bottom 25% Dividend Yield | 25th Percentile | 2.5% |
| Singapore Top 25% Dividend Yield | 75th Percentile | 5.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in SGD) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | 1.59 | 1.00 |
| 2022-12-31 | 1.40 | 1.00 |
| 2021-12-31 | 1.40 | 15.00 |
| 2020-12-31 | 1.32 | 18.00 |
| 2019-12-31 | 1.25 | 19.00 |
| Date (Data in SGD) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-04-26 | 1.200 | 4.605 |
| 2018-10-25 | 1.000 | 3.958 |
| 2018-08-02 | 1.000 | 3.782 |
| 2018-05-02 | 0.900 | 3.255 |
| 2017-11-02 | 0.700 | 2.579 |
| 2017-07-27 | 0.700 | 2.927 |
| 2017-03-28 | 0.700 | 3.048 |
| 2017-02-17 | 0.700 | 3.241 |
| 2016-10-28 | 0.700 | 3.454 |
| 2016-07-28 | 0.700 | 3.803 |
| 2016-02-15 | 0.700 | 3.810 |
| 2015-07-31 | 0.900 | 4.677 |
| 2015-04-01 | 0.750 | 3.191 |
| 2014-07-31 | 0.700 | 3.029 |
| 2014-02-21 | 0.750 | 3.399 |
| 2013-08-01 | 0.600 | 2.895 |
| 2013-02-27 | 0.600 | 2.911 |
| 2012-04-09 | 0.600 | 3.174 |
| 2012-02-23 | 0.600 | 3.302 |
| 2011-02-25 | 0.600 | 3.372 |
| 2010-05-03 | 0.600 | 3.180 |
| 2009-08-05 | 0.600 | 3.279 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
United Overseas Bank's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are well covered by earnings (2.4x coverage).
- Dividends after 3 years are expected to be covered by earnings (1.9x coverage).
Income/ dividend checks
We assess United Overseas Bank's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can United Overseas Bank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) United Overseas Bank has a total score of 4/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
U11 Management
CEO
| COMPENSATION | SGD10,563,000 |
| AGE | 65 |
| TENURE AS CEO | 12.1 years |
CEO Bio
Mr. Ee Cheong Wee, B.Sc.(Bus Admin), M.A.(Applied Econs), has been the Chief Executive Officer of United Overseas Bank Limited since April 27, 2007. Mr. Wee has been the Chief Executive Officer of Far Eastern Bank Limited since April 27, 2007 and serves as its President and Deputy Chairman. Mr. Wee served as Chief Executive Officer and Deputy Chairman of BNP Paribas Arbitrage Issuance BV. He served as the Chief Executive Officer and Deputy Chairman of United International Securities Ltd. He is a career banker with more than 35 years’ experience. Mr. Wee served as an Executive Director of United International Securities Ltd. from March 7, 1988 to December 12, 2013. Mr. Wee served as the President of United Overseas Bank Limited from 2000 to April 2007. Mr. Wee joined United Overseas Bank Limited in 1979. He served as President of Overseas Union Trust Ltd. He served as President of Industrial & Commercial Bank Ltd. since 2000. He served as President of Overseas Union Bank Ltd. since 2000. He serves as the Chairman of United Overseas Bank (China) Limited. Mr. Wee serves as Vice President Commissioner of PT Bank UOB Indonesia and has been its Commissioner since August 31, 2007. Mr. Wee has been Deputy Chairman of United Overseas Bank Limited since 2000 and has been its Executive & Non-Independent Director since January 3, 1990. He has been Deputy Chairman of United Overseas Bank (Thai) Public Company Limited since July 2004. Previously, Mr. Wee served as Deputy Chairman of Industrial & Commercial Bank Ltd. since 2000 and served as its Executive Director since 1987. He has been an Executive and Non-Independent Director of Far Eastern Bank Limited since January 3, 1990. Mr. Wee has been a Director of United Overseas Bank (Malaysia) Bhd. since March 23, 1994, a Non-Executive and Non-Independent Director of United Overseas Insurance Ltd. since March 20, 1991. He served as Director of UOB Australia Limited until May 18, 2018. He serves as a Director of Kheng Leong Co. (Pte.) Ltd., UOB Global Capital, LLC, Visa International Senior Client Council and India-Singapore Chief Executive Officer Forum and an Advisory Board Member of the INSEAD East Asia Council and International Council. He served as a Director of Overseas Union Bank Ltd. since January 3, 1990. Mr. Wee served as a Director of Pan Pacific Hotels Group Limited from May 28, 1990 to May 9, 2006. He serves as Chairman of the Board at The Institute of Banking & Finance Standards Committee. He serves as Chairman of the Board and Council Member of The Association of Banks in Singapore. He serves as Vice Chairman at The Institute of Banking & Finance. He serves as a Member of Indonesia-Singapore Business Council. He was the Deputy Chairman of Housing & Development Board and Overseas Union Trust Ltd. He serves as Member of the Board of Governors of the Singapore-China Foundation. He serves as a Director of Wee Foundation and The Institute of Banking & Finance. Mr. Wee was a Director of UOL Group, Limited from May 18, 1991 to May 2006 and Prudential Assurance Co S'pore (Pte) Ltd. He served as a Director of Hotel Plaza Limited until May 2006. Mr. Wee served as a Director of Overseas Union Trust Ltd. since January 3, 2002. He served as a Director of Port of Singapore Authority, UOL Group, Ltd. He is a Patron at Nanyang Academy of Fine Arts. He is a member of Visa APCEMEA Senior Client Council. He received Public Service Star (2013). He is an Honorary Council Member of Singapore Chinese Chamber of Commerce & Industry. Mr. Wee holds a Master of Arts in Applied Economics and a Bachelor of Science in Business Administration from The American University.
CEO Compensation
- Ee Cheong's compensation has been consistent with company performance over the past year, both up more than 20%.
- Ee Cheong's remuneration is higher than average for companies of similar size in Singapore.
Management Team Tenure
Average tenure and age of the United Overseas Bank management team in years:
- The average tenure for the United Overseas Bank management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Ee Cheong Wee
Deputy Chairman & CEO
SGD11M
65
12.1 yrs
Wai Lee
MD & Group CFO
57
13.9 yrs
Susan Hwee
Head of Group Technology & Operations
Stephen Lin Shih Tung
Head of Investor Relations
Victor Ngo
Head of Group Compliance
2.1 yrs
Joyce Sia
Head of Group Legal & Company Secretary
Chee Lee
Head of Global Markets
Dean Tong
Head of Group Human Resources
Francis Lee
Advisor of Group Retail
64
Eddie Khoo
Head of Group Retail
Board of Directors Tenure
Average tenure and age of the United Overseas Bank board of directors in years:
- The tenure for the United Overseas Bank board of directors is about average.
Board of Directors
Kan Seng Wong
Chairman of the Board
SGD960K
71
1.3 yrs
Ee Cheong Wee
Deputy Chairman & CEO
SGD11M
65
19.3 yrs
Cho-Yaw Wee
Chairman Emeritus & Honorary Adviser
SGD617K
89
6.1 yrs
Kevin Lam Lam
President Director of PT Bank UOB Indonesia
49
3.3 yrs
Willie Cheng
Non-Executive & Independent Director
SGD205K
64
8.8 yrs
James Koh
Non-Executive Independent Director
SGD220K
72
6.7 yrs
Yew Huat Ong
Non-Executive & Independent Director
SGD402K
62
6.3 yrs
Hwee Hua Lim
Non-Executive & Independent Director
SGD220K
59
4.8 yrs
Michael Lien
Non-Executive & Non-Independent Director
SGD175K
54
1.8 yrs
Alex Hungate
Non-Executive & Independent Director
SGD175K
51
1.8 yrs
Who owns this company?
Recent Insider Trading
- More shares have been bought than sold by United Overseas Bank insiders in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (SGD) | Value (SGD) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 10. May 19 | Buy | Alexander Hungate | Individual | 09. May 19 | 09. May 19 | 6,000 | SGD25.50 | SGD153,010 | ||
| 25. Jun 18 | Buy | Alexander Hungate | Individual | 14. Jun 18 | 14. Jun 18 | 3,000 | SGD26.99 | SGD80,970 | ||
Management checks
We assess United Overseas Bank's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) United Overseas Bank has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
U11 News
Simply Wall St News
Have You Considered These Key Risks For United Overseas Bank Limited (SGX:U11)?
As a S$45b market capitalisation company operating in the financial services sector, United Overseas Bank Limited (SGX:U11) has benefited from strong economic growth and improved credit quality as a result of post-GFC recovery. … Economic growth fuels demand for loans and affects a borrower’s ability to repay which directly impacts the level of risk United Overseas Bank takes on. … Check out our latest analysis for United Overseas Bank
Simply Wall St - – Full articleUpdate: United Overseas Bank (SGX:U11) Stock Gained 37% In The Last Three Years
Just take a look at United Overseas Bank Limited (SGX:U11), which is up 37%, over three years, soundly beating the market return of 9.3% (not including dividends). … See our latest analysis for United Overseas Bank. … United Overseas Bank was able to grow its EPS at 6.5% per year over three years, sending the share price higher.
Simply Wall St - – Full articleFinancial Metrics For United Overseas Bank Limited (SGX:U11)
Following the crisis, a set of reforms termed Basel III was enforced to bolster risk management, regulation, and supervision in the financial services industry. … Basel III target banking regulations to improve the sector’s ability to absorb shocks resulting from economic stress which may expose financial institutions like banks to vulnerabilities. … Investors should be more cautious when it comes to financial stocks given the different type of risk to which they are exposed.
Simply Wall St - – Full articleWhat Kind Of Shareholder Appears On The United Overseas Bank Limited's (SGX:U11) Shareholder Register?
The big shareholder groups in United Overseas Bank Limited (SGX:U11) have power over the company. … United Overseas Bank is a pretty big company. … Check out our latest analysis for United Overseas Bank
Simply Wall St - – Full articleHow Do Analysts See United Overseas Bank Limited (SGX:U11) Performing In The Year Ahead?
As United Overseas Bank Limited (SGX:U11) released its earnings announcement on 31 December 2018, … analyst consensus outlook appear cautiously optimistic, … with earnings expected to grow by 5.0% in the upcoming year
Simply Wall St - – Full articleWhat Should We Expect From United Overseas Bank Limited's (SGX:U11) Earnings Over The Next Few Years?
In December 2018, United Overseas Bank Limited (SGX:U11) released its latest earnings announcement, whicha
Simply Wall St - – Full articleShould You Worry About United Overseas Bank Limited's (SGX:U11) CEO Pay?
In 2007 Ee Cheong Wee was appointed CEO of United Overseas Bank Limited (SGX:U11). … This analysis aims first to contrast CEO compensation with other large companies. … Check out our latest analysis for United Overseas Bank?
Simply Wall St - – Full articleIs United Overseas Bank Limited (SGX:U11) A Smart Pick For Income Investors?
Historically, United Overseas Bank Limited (SGX:U11) has been paying a dividend to shareholders. … Does United Overseas Bank tick all the boxes of a great dividend stock? … Check out our latest analysis for United Overseas Bank?
Simply Wall St - – Full articleWhen Should You Buy United Overseas Bank Limited (SGX:U11)?
Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price? … A question to answer is whether United Overseas Bank's current trading price of SGD24.92 reflective of the actual value of the? … Let’s take a look at United Overseas Bank’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change
Simply Wall St - – Full articleNeed To Know: United Overseas Bank Limited (SGX:U11) Insiders Have Been Buying Shares
So shareholders might well want to know whether insiders have been buying or selling shares in United Overseas Bank Limited (SGX:U11). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … The Last 12 Months Of Insider Transactions At United Overseas Bank.
Simply Wall St - – Full articleU11 Company Info
Description
United Overseas Bank Limited provides financial products and services. The company’s Group Retail segment provides deposits, insurance, card, wealth management, investment, and loan and trade financing products for personal and small enterprise customers. Its Group Wholesale Banking segment provides financing, trade services, cash management, capital markets solutions, and advisory and treasury products. The company’s Global Markets segment offers foreign exchange, interest rate, credit, commodities, equities, and structured investment products; and manages funding and liquidity. Its Other segment provides investment management, property, and insurance services. The company has a network of approximately 500 offices in 19 countries and territories in the Asia Pacific, Europe, and North America. The company was formerly known as United Chinese Bank and changed its name to United Overseas Bank Limited in 1965. United Overseas Bank Limited was founded in 1935 and is headquartered in Singapore.
Details
| Name: | United Overseas Bank Limited |
| U11 | |
| Exchange: | SGX |
| Founded: | 1935 |
| SGD41,421,406,173 | |
| 1,668,200,007 | |
| Website: | http://www.uobgroup.com |
| Address: |
United Overseas Bank Limited UOB Plaza, 80 Raffles Place, Singapore, 048624, Singapore |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| SGX | U11 | Ordinary Shares | Singapore Exchange | SG | SGD | 02. Jan 1992 | |
| OTCPK | UOVE.F | Ordinary Shares | Pink Sheets LLC | US | USD | 02. Jan 1992 | |
| DB | UOB | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 02. Jan 1992 | |
| OTCPK | UOVE.Y | SPONSORED ADR | Pink Sheets LLC | US | USD | 05. Apr 1991 |
Number of employees
Current staff
Industry
| Diversified Banks | |
| Banks |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/22 12:35 |
| End of day share price update: | 2019/05/22 00:00 |
| Last estimates confirmation: | 2019/05/21 |
| Last earnings filing: | 2019/05/02 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
