Fubon Financial Holding Co Ltd (2881) Fair Value & Analysis
Financial Services · TW · Market cap 1.7T TWD (≈ $53.6B) · ISIN TW0002881000
What is Fubon Financial Holding Co Ltd really worth?
Below-average quality, and trading another 39% above our fair value of 106.09 TWD.
Strengths
Risks
For context
Fair value as of: Sep 5, 2026
From 6 valuation models · updated today
Share price +13.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (132.62 TWD). The favourable scenario is already priced in.
- Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.
How to read this chart
60‑month range 33.06 TWD – 147.00 TWD · fair‑value band 79.57 TWD – 132.62 TWD · the 147.00 TWD price screens above the 106.09 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 5, 2026.
Analysis
Fubon Financial Holding Co Ltd (2881) currently trades at 147.00 TWD, while our model-based Fair Value estimate is 106.09 TWD, implying the stock looks roughly 38.6% overvalued today. The Quality Score stands at 36/100 (below-average quality), in the Financial Services sector. Bull case: the Multiples group reads highest at a median of 100.66 TWD per share, and 0 of the 6 models we run sit above the 147.00 TWD price. Bear case: the Asset-Based group reads lowest at 48.17 TWD, and 6 of the 6 models stay below the price. Evidence for this calculation is high.
Revenue grew 175.6% year over year. It earns a return on equity of 18.7%. The balance sheet holds a net cash position of 258B TWD. The stock trades on a trailing P/E of 17.6. Fundamentals as of Sep 5, 2026
Our scenario range runs from 79.57 TWD (bear case) to 132.62 TWD (bull case); at 147.00 TWD, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 89% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −29% fair-value upside, at −28%, 2881 screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 2.79 TWD per share, which is 2.6 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 6 models by family
Widest divergence: Multiples (100.66 TWD) versus Asset-Based (48.17 TWD). Highest evidence: Residual Income (72).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 31 · Market factors (momentum, volatility) 95
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Fubon Financial Holding Co., Ltd. provides various financial products and services in Taiwan, Asia, and internationally. It operates through Banking Business, Property Insurance Business, Life Insurance Business, Securities Business, and Others segments.
Full company description
Fubon Financial Holding Co., Ltd. provides various financial products and services in Taiwan, Asia, and internationally. It operates through Banking Business, Property Insurance Business, Life Insurance Business, Securities Business, and Others segments. The company offers insurance products, including property, casualty, life, health, accident, fire, transportation, fishing vessel, car, liability, engineering and nuclear, guarantee and letter of credit, and personal and commercial multiple peril insurance, as well as typhoons, floods, and earthquake insurance products. It also provides retail and consumer, corporate, and investment banking services; brokerage, trading, and underwriting services; and investment and financial management, and foreign exchange. In addition, the company offers deposits and loans, trust, bill finance, and credit card services; invests in foreign financial institutions; and insurance brokerage and agent services. Further, it engages in the venture capital, creditor's rights management, stock and futures brokerage, sales of mutual funds, energy technical services, reinsurance business, asset management, stadium management, and sports activities, as well as invests in and manages real estate properties. Fubon Financial Holding Co., Ltd. was founded in 1961 and is based in Taipei, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Fubon Financial Holding Co Ltd reported revenue of 190B TWD in FY2025 versus 480B TWD in FY2021, a compound −20.7%/yr. Reported net income was 121B TWD in FY2025, compounding −4.4%/yr from FY2021.
of which total revenue −0.1 % · buybacks/dilution −1.8 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
2881 screens 39% overvalued. Compare with China Life Insurance Company →
Peer Group
Insurance - Life · 96 stocks
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.
Valuation Multiples vs Insurance - Life median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Insurance - Life stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| China Life Insurance Company 601628 | ¥37.03 | ¥49.98 | +35% |
| Ping An Insurance (Group) Company 601318 | ¥55.82 | ¥84.72 | +52% |
| AIA Group 1299 | HK$73.00 | HK$33.57 | −54% |
| Manulife Financial Corporation MFC | C$59.80 | C$38.80 | −35% |
| Aflac Incorporated AFL | $116.52 | $74.34 | −36% |
| Great-West Lifeco Inc GWO | C$90.25 | C$39.53 | −56% |
| MetLife, Inc MET | $96.51 | $68.27 | −29% |
| Life Insurance Corporation LICI | ₹412.15 | ₹392.93 | −5% |
| China Pacific Insurance (Group) Co 601601 | ¥30.20 | ¥57.51 | +90% |
| Samsung Life Insurance Co 032830 | 301,000 KRW | 191,293 KRW | −36% |
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