Union Bank of the Philippines (XPHS:UBP)

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Price: 36 PHP -1.77%

Market Cap: 119.4B PHP

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Section:

Relative Value

The Relative Value of one UBP stock under the Base Case scenario is 64.23 PHP. Compared to the current market price of 36 PHP, Union Bank of the Philippines is Undervalued by 44%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

What is Relative Valuation?

How is Relative Value calculated?

UBP Relative Value

Base Case

Worst Case

Base Case

Best Case

Valuation Multiples

1.6

P/S

vs History	47
vs Industry	71

Median 5Y

1.7

Industry

2.5

Forward

1.5

More Details

15.4

P/E

vs History	3
vs Industry	35

Median 5Y

9.8

Industry

10.7

Forward

9.2

More Details

0.6

P/B

vs History	50
vs Industry	72

Median 5Y

0.7

Industry

More Details

0.2

Price/Deposits

vs History	25
vs Industry	30

Median 5Y

0.2

Industry

0.1

More Details

Multiples Across Competitors

All Multiples

P/S

P/E

P/B

Forward Multiples

			Market Cap	P/S	P/E	P/B
PH	U	Union Bank of the Philippines XPHS:UBP	119.4B PHP	1.6	15.4	0.6
US		JPMorgan Chase & Co NYSE:JPM	680.9B USD	3.9	13.1	2
ZA	S	Standard Bank Group Ltd JSE:SBK	398B Zac	0	0	0
ZA	A	Absa Bank Ltd JSE:ABSP	389.8B Zac	0	0	0
ZA	C	Capitec Bank Holdings Ltd JSE:CPI	380.1B Zac	0	0	0
US		Bank of America Corp NYSE:BAC	352.9B USD	3.6	16.1	1.2
CN		Industrial and Commercial Bank of China Ltd SSE:601398	2.2T CNY	2.6	6.3	0.6
US		Wells Fargo & Co NYSE:WFC	243.6B USD	3	14.4	1.3
CN		Agricultural Bank of China Ltd SSE:601288	1.7T CNY	2.3	6.5	0.5
CN		Bank of China Ltd SSE:601988	1.4T CNY	2.2	6.7	0.5
CN		China Construction Bank Corp SSE:601939	1.3T CNY	1.7	4	0.4

				Revenue Growth
PH	U	Union Bank of the Philippines XPHS:UBP	Average P/S: 2.6 1.6	34%
US		JPMorgan Chase & Co NYSE:JPM	3.9	12%
ZA	S	Standard Bank Group Ltd JSE:SBK	Not Available	-20%
ZA	A	Absa Bank Ltd JSE:ABSP	Not Available	N/A
ZA	C	Capitec Bank Holdings Ltd JSE:CPI	Not Available	34%
US		Bank of America Corp NYSE:BAC	3.6	15%
CN		Industrial and Commercial Bank of China Ltd SSE:601398	2.6	-1%
US		Wells Fargo & Co NYSE:WFC	3	5%
CN		Agricultural Bank of China Ltd SSE:601288	2.3	7%
CN		Bank of China Ltd SSE:601988	2.2	5%
CN		China Construction Bank Corp SSE:601939	1.7	2%

				Earnings Growth
PH	U	Union Bank of the Philippines XPHS:UBP	Average P/E: 10.3 15.4	120%
US		JPMorgan Chase & Co NYSE:JPM	13.1	8%
ZA	S	Standard Bank Group Ltd JSE:SBK	Not Available	24%
ZA	A	Absa Bank Ltd JSE:ABSP	Not Available	N/A
ZA	C	Capitec Bank Holdings Ltd JSE:CPI	Not Available	75%
US		Bank of America Corp NYSE:BAC	16.1	31%
CN		Industrial and Commercial Bank of China Ltd SSE:601398	6.3	7%
US		Wells Fargo & Co NYSE:WFC	14.4	22%
CN		Agricultural Bank of China Ltd SSE:601288	6.5	13%
CN		Bank of China Ltd SSE:601988	6.7	8%
CN		China Construction Bank Corp SSE:601939	4	-29%


PH	U	Union Bank of the Philippines XPHS:UBP	Average P/B: 0.9 0.6
US		JPMorgan Chase & Co NYSE:JPM	2
ZA	S	Standard Bank Group Ltd JSE:SBK	Not Available
ZA	A	Absa Bank Ltd JSE:ABSP	Not Available
ZA	C	Capitec Bank Holdings Ltd JSE:CPI	Not Available
US		Bank of America Corp NYSE:BAC	1.2
CN		Industrial and Commercial Bank of China Ltd SSE:601398	0.6
US		Wells Fargo & Co NYSE:WFC	1.3
CN		Agricultural Bank of China Ltd SSE:601288	0.5
CN		Bank of China Ltd SSE:601988	0.5
CN		China Construction Bank Corp SSE:601939	0.4

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Union Bank of the Philippines
XPHS:UBP

Relative Value

Valuation Multiples

Multiples Across Competitors

UBP Competitors Multiples
Union Bank of the Philippines Competitors

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Union Bank of the Philippines XPHS:UBP

Relative Value

Valuation Multiples

Multiples Across Competitors

UBP Competitors Multiples Union Bank of the Philippines Competitors

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Union Bank of the Philippines
XPHS:UBP

UBP Competitors Multiples
Union Bank of the Philippines Competitors