United Overseas Bank Ltd (U11) Fair Value & Analysis
Financial Services · SG · Market cap 72.9B SGD (≈ $57.6B) · ISIN SG1M31001969
What is United Overseas Bank Ltd really worth?
Below-average quality, currently priced close to our fair value of 38.05 SGD.
Strengths
Risks
For context
Fair value as of: Aug 14, 2026
From 6 valuation models · updated 22 days ago
Fair value updated Aug 14, 2026, revised from 36.85 SGD to 38.05 SGD (+3.3%) since Jul 15, 2026. Share price −2.4% 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 close to our fair value, market and models broadly agree here, little valuation tension.
- 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 Aug 14, 2026.
How to read this chart
60‑month range 20.02 SGD – 44.95 SGD · fair‑value band 28.54 SGD – 47.56 SGD · the 42.01 SGD price screens above the 38.05 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 14, 2026.
Analysis
United Overseas Bank Ltd (U11) currently trades at 42.01 SGD, while our model-based Fair Value estimate is 38.05 SGD, implying the stock looks roughly 10.4% fairly valued today. The Quality Score stands at 49/100 (below-average quality), in the Financial Services sector. Bull case: the Multiples group reads highest at a median of 36.85 SGD per share, and 2 of the 6 models we run sit above the 42.01 SGD price. Bear case: the Asset-Based group reads lowest at 20.79 SGD, and 4 of the 6 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, United Overseas Bank Ltd generated revenue of 11.6B SGD at a net margin of 39.8%. Revenue declined 4.4% year over year. It earns a return on equity of 9.2%. The stock trades on a trailing P/E of 15.3. Fundamentals as of Aug 14, 2026
Our scenario range runs from 28.54 SGD (bear case) to 47.56 SGD (bull case); at 42.01 SGD, the current price sits within 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 29% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −10% fair-value upside, at −9%, U11 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 0.7882 SGD per share, which is 2.1 % 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 (36.85 SGD) versus Asset-Based (20.79 SGD). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 14, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 44 · Market factors (momentum, volatility) 74
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
United Overseas Bank Limited, together with its subsidiaries, provides banking products and services worldwide. It operates through three segments: Group Retail, Group Wholesale Banking, and Global Markets.
Full company description
United Overseas Bank Limited, together with its subsidiaries, provides banking products and services worldwide. It operates through three segments: Group Retail, Group Wholesale Banking, and Global Markets. The company offers deposit products; loan products, including overdraft, cash credit, short term, and long-term loans; and buyers credit, structured trade finance, ECBs, SGD bonds, loan syndication, and M and A services. It provides forex, documentary collection, credit, export and import finance services. In addition, the company offers inward and outward remittances, FX" spot and forward, current account, and time deposit services; letter of credit advising and negotiation/discounting services; and import and export services comprising of inward and outward bill collection services, bank guarantee, as well as standby letter of credit. Further, it provides interest rate, credit, commodities, equities, and structured investment products; private, commercial and corporate, and investment banking services; and is involved in property, insurance, and investment management activities. Additionally, the company offers corporate finance, treasury, futures broking, asset management, venture capital management, insurance, stockbroking, cash management, and wealth management services; and engages in capital market, credit card, and private residential home loan businesses. The company was incorporated in 1935 and is headquartered in Singapore.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
United Overseas Bank Ltd reported revenue of 13.8B SGD in FY2025 versus 9.8B SGD in FY2021, a compound +9.1%/yr. Reported net income was 4.7B SGD in FY2025, compounding +3.5%/yr from FY2021.
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Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- United Overseas Bank (SGX:U11) Joins AirTrunk Financing, Is It Fully Priced?
- AM Best Affirms Credit Ratings of United Overseas Insurance Limited
Peer Group
Banks - Regional · 1071 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 Banks - Regional 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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Aug 14, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| DBS Group D05 | 75.65 SGD | 40.48 SGD | −46% |
| China Merchants Bank Co 3968 | HK$47.96 | HK$76.51 | +60% |
| Intesa Sanpaolo S.p.A ISP | €6.78 | €5.66 | −17% |
| HDFC Bank Limited HDB | $23.17 | $24.12 | +4% |
| BNP Paribas SA BNP | €102.56 | €144.64 | +41% |
| UniCredit S.p.A UCG | €84.71 | €77.62 | −8% |
| Mizuho Financial Group MFG | $10.74 | $9.69 | −10% |
| ICICI Bank Limited ICICIBANK | ₹1,443 | ₹835.21 | −42% |
| Oversea-Chinese Banking Corporation O39 | 31.07 SGD | 19.80 SGD | −36% |
| CaixaBank, S.A CABK | €13.52 | €8.85 | −35% |
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