Fubon Financial Holding Co., Ltd.

TWSE:2881 Stock Report

Market Cap: NT$1.3t

Fubon Financial Holding Valuation

Is 2881 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 2881 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2881 (NT$91.3) is trading below our estimate of fair value (NT$220.47)

Significantly Below Fair Value: 2881 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2881?

Key metric: As 2881 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2881. This is calculated by dividing 2881's market cap by their current earnings.
What is 2881's PE Ratio?
PE Ratio10.8x
EarningsNT$115.88b
Market CapNT$1.25t

Price to Earnings Ratio vs Peers

How does 2881's PE Ratio compare to its peers?

The above table shows the PE ratio for 2881 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.4x
2882 Cathay Financial Holding
11.3x1.7%NT$1.0t
2883 KGI Financial Holding
10.8x-1.9%NT$324.6b
2888 Shin Kong Financial Holding
16.2x0.5%NT$211.3b
5859 Farglory Life Insurance
3.3xn/aNT$22.4b
2881 Fubon Financial Holding
10.8x-1.9%NT$1.3t

Price-To-Earnings vs Peers: 2881 is expensive based on its Price-To-Earnings Ratio (10.8x) compared to the peer average (10.4x).

Price to Earnings Ratio vs Industry

How does 2881's PE Ratio compare vs other companies in the Asian Insurance Industry?

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
2881 10.8xIndustry Avg. 11.1xNo. of Companies46PE0816243240+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 2881 is good value based on its Price-To-Earnings Ratio (10.8x) compared to the Asian Insurance industry average (11.1x).

Price to Earnings Ratio vs Fair Ratio

What is 2881's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2881 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.8x
Fair PE Ratio11.5x

Price-To-Earnings vs Fair Ratio: 2881 is good value based on its Price-To-Earnings Ratio (10.8x) compared to the estimated Fair Price-To-Earnings Ratio (11.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 2881 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNT$91.30
NT$98.45
+7.8%
3.6%NT$103.00NT$90.70n/a11
Dec ’25NT$88.00
NT$97.34
+10.6%
4.3%NT$103.00NT$90.70n/a11
Nov ’25NT$90.40
NT$92.06
+1.8%
7.9%NT$102.70NT$73.33n/a11
Oct ’25NT$90.70
NT$90.65
-0.06%
8.7%NT$102.70NT$73.33n/a11
Sep ’25NT$87.52
NT$85.78
-2.0%
10.3%NT$95.24NT$72.38n/a12
Aug ’25NT$84.00
NT$77.46
-7.8%
9.1%NT$93.33NT$66.29n/a12
Jul ’25NT$76.57
NT$74.96
-2.1%
4.8%NT$80.19NT$66.29n/a12
Jun ’25NT$69.90
NT$73.75
+5.5%
3.9%NT$78.10NT$66.29n/a12
May ’25NT$65.81
NT$71.17
+8.2%
4.4%NT$74.29NT$62.67n/a12
Apr ’25NT$66.19
NT$70.82
+7.0%
4.4%NT$74.29NT$62.67n/a12
Mar ’25NT$64.19
NT$66.88
+4.2%
6.7%NT$73.33NT$58.10n/a12
Feb ’25NT$61.71
NT$66.11
+7.1%
6.7%NT$73.33NT$58.10n/a12
Jan ’25NT$61.71
NT$64.55
+4.6%
6.6%NT$71.43NT$58.10n/a12
Dec ’24NT$60.76
NT$64.03
+5.4%
5.6%NT$70.48NT$58.10NT$88.0012
Nov ’24NT$57.14
NT$63.85
+11.7%
5.4%NT$70.48NT$58.96NT$90.4012
Oct ’24NT$57.81
NT$63.85
+10.4%
5.4%NT$70.48NT$58.96NT$90.7012
Sep ’24NT$58.78
NT$62.17
+5.8%
6.7%NT$66.76NT$50.52NT$87.5211
Aug ’24NT$60.32
NT$60.76
+0.7%
8.3%NT$66.03NT$50.52NT$84.0011
Jul ’24NT$55.15
NT$60.10
+9.0%
8.5%NT$66.03NT$50.52NT$76.5711
Jun ’24NT$54.78
NT$59.39
+8.4%
8.1%NT$66.03NT$50.52NT$69.9011
May ’24NT$53.51
NT$56.31
+5.2%
10.6%NT$64.40NT$47.89NT$65.8110
Apr ’24NT$51.25
NT$56.69
+10.6%
10.3%NT$64.40NT$47.89NT$66.1911
Mar ’24NT$53.51
NT$57.53
+7.5%
10.2%NT$65.31NT$47.62NT$64.1911
Feb ’24NT$54.42
NT$56.07
+3.0%
12.1%NT$65.31NT$44.76NT$61.7111
Jan ’24NT$51.07
NT$53.74
+5.2%
9.9%NT$62.58NT$44.76NT$61.7111
Dec ’23NT$54.78
NT$53.34
-2.6%
10.1%NT$62.58NT$44.76NT$60.7611

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/26 10:10
End of Day Share Price 2024/12/26 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Fubon Financial Holding Co., Ltd. is covered by 30 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Noel ChanBarclays
James WuBNP Paribas Securities (Asia)
Michael LiBofA Global Research