Union Bank of Taiwan AI Stock Analysis
Union Bank of Taiwan (2838) AI Stock Analysis
Union Bank of Taiwan
(TWSE:2838)
Union Bank of Taiwan earns a middling score. Record profits, expanding margins and improving return on equity are genuine positives, but they are weighed down by sharply higher leverage (debt-to-equity rising to about 1.45 from 0.10) and persistently negative operating and free cash flow. Technicals add to the caution, with the price below its key short- and medium-term moving averages and a negative MACD, although oversold RSI and stochastic readings hint at possible stabilisation. A moderate 13.6 P/E, a 2.34% dividend yield and a very low beta provide some valuation and stability support, leaving the overall profile balanced but tilted toward caution.
Union Bank of Taiwan (2838) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 91.00B
- Dividend Yield
- 2.35%
- Average Volume (3M)
- 1.95M
- Price to Earnings (P/E)
- 14.2
- Beta (1Y)
- 0.22
- Revenue Growth
- -6.39%
- EPS Growth
- 27.60%
- Country
- TW
- Employees
- 4,012
- Sector
- General
- Sector Strength
- 55
- Industry
- Banks - Regional
Union Bank of Taiwan Business Overview & Revenue Model
Company Description
Established in 1989 and headquartered in Taipei, Taiwan, Union Bank of Taiwan delivers a wide spectrum of banking and financial solutions complemented by diverse business ventures. The institution offers a comprehensive range of traditional banking s...
Union Bank of Taiwan Financial Statement Overview
Summary
Earnings momentum is the strength: revenue has nearly doubled since 2020 to about NT$34.7 billion, net income hit a record NT$6.08 billion in 2025 (+16.6%), and operating and net margins both widened. The balance sheet is expanding with assets above NT$1 trillion and equity up roughly 10%, but debt-to-equity jumped to about 1.45 from 0.10 and the equity cushion is a thin ~8% of assets. Cash flow is the clear weak spot, with operating cash flow of negative NT$10.8 billion and free cash flow of negative NT$12.2 billion in 2025, negative in four of the last six years. Solid profitability is therefore offset by rising funding reliance and inconsistent cash generation.
Income Statement
74PositiveBalance Sheet
58NeutralCash Flow
36Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 38.67B | 34.74B | 32.75B | 29.35B | 22.06B | 19.64B |
| Gross Profit | 22.94B | 20.20B | 18.83B | 17.73B | 16.93B | 16.67B |
| EBITDA | 10.29B | 10.03B | 8.93B | 7.90B | 7.26B | 7.85B |
| Net Income | 7.06B | 6.08B | 5.22B | 4.32B | 3.54B | 4.46B |
Balance Sheet | ||||||
| Total Assets | 1.06T | 1.06T | 995.46B | 939.15B | 845.00B | 841.59B |
| Cash, Cash Equivalents and Short-Term Investments | 52.45B | 103.15B | 52.68B | 43.30B | 37.22B | 43.32B |
| Total Debt | 108.83B | 123.80B | 7.63B | 7.74B | 7.66B | 10.64B |
| Total Liabilities | 966.37B | 970.36B | 916.00B | 868.50B | 781.88B | 775.72B |
| Stockholders Equity | 87.28B | 85.28B | 77.23B | 68.43B | 61.07B | 65.14B |
Cash Flow | ||||||
| Free Cash Flow | -22.06B | -12.24B | -3.28B | 17.78B | -5.27B | -3.13B |
| Operating Cash Flow | -20.75B | -10.79B | -1.76B | 21.44B | -3.06B | -2.70B |
| Investing Cash Flow | 11.90B | -803.95M | -2.63B | -3.84B | -4.40B | -3.55B |
| Financing Cash Flow | -9.62B | -1.04B | 51.13M | 404.18M | -8.92B | 5.60B |
Union Bank of Taiwan Peers Comparison
Overall Rating
TW:281264Neutral
TW:600563Neutral- TW:283859Neutral
TW:284558Neutral
TW:285556Neutral
TW:288955Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:2812 | 64Neutral | TWD 109.87B | 11.61 | ― | 2.25% | 2.05% | 8.92% |
| TW:6005 | 63Neutral | TWD 66.78B | 5.70 | ― | 1.45% | 80.75% | 158.29% |
| TW:2838 | 59Neutral | TWD 88.70B | 14.20 | ― | 2.35% | -6.39% | 27.60% |
| TW:2845 | 58Neutral | TWD 61.30B | 12.45 | ― | 4.08% | -13.12% | 18.06% |
| TW:2855 | 56Neutral | TWD 80.07B | 5.27 | ― | 4.13% | 592.27% | 347.85% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:2889 | 55Neutral | TWD 57.76B | 13.10 | ― | 3.13% | 65.79% | 174.93% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:2838 | Union Bank of Taiwan | 19.60 | 2.04 | 11.59% | |
| TW:2812 | Taichung Commercial Bank Co., Ltd. | 17.35 | -2.42 | -12.24% | |
| TW:2845 | Far Eastern International Bank | 12.60 | 0.52 | 4.33% | |
| TW:2855 | President Securities Corp. | 51.10 | 27.31 | 114.77% | |
| TW:2889 | IBF Financial Holdings Co., Ltd. | 15.95 | 0.68 | 4.49% | |
| TW:6005 | Capital Securities Corp. | 27.60 | 6.02 | 27.90% |
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Nov 09, 2026