United Overseas Bank Limited UOVEY

FinancialsBanking ServicesSingapore

Last close 63.75 USD on Nov 2, 2026, +22.1% year to date

Quant rating

Quant rating D Rank 227 of 304 in Financials

Growth D 230 of 304
Valuation C 198 of 304
Quality D 219 of 304
Revisions D 242 of 304
Momentum B 107 of 304

Wall Street consensus Hold (3.00)Average target 70.38 USD +10.4%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 52.9B
Enterprise value: 32.2B
52-week range: 50.00 – 70.85
3-year range: 39.05 – 70.85
Dividend yield: 3.88%
Beta (5 years): 0.56
Shares outstanding: 1,661M
Next earnings: –

About the company

United Overseas Bank Limited is a Singapore-based bank. Its segments include Group Retail, Group Wholesale Banking and Global Markets. Group Retail segment covers individual customers. Customers have access to a diverse range of products and services, including deposits, insurance, card, wealth management, investment and loan products which are available across its global branch network. Group Wholesale Banking segment encompasses corporate and institutional client segments which include small, medium and large enterprises, local and multi-national corporations, financial sponsors and property funds. It provides customers with a range of products and services, including loans, trade services, cash management, capital markets solutions and advisory and treasury products. Global Markets provides a comprehensive suite of treasury products and services across multi-asset classes which include foreign exchange, interest rate, credit, commodities, equities and structured investment products.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	16,084	17,037	16,861	9,600	6,082	–
Revenue growth	−5.6%	1.0%	75.6%	57.9%	−16.5%	17.2%
EPS (basic, normalized)	2.14	2.67	2.68	2.09	1.77	–
EPS growth	−19.7%	−0.3%	27.9%	18.4%	38.2%	10.9%
Gross margin	–	–	–	–	–	–
Net margin	22.2%	25.6%	25.2%	35.0%	48.8%	31.3%
ROE	–	–	–	11.9%	–	11.9%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Tier 1 risk-adjusted capital ratio	–
Long-term debt (mil)	–
Net debt (mil)	–
Total equity (mil)	–
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	16,084	−5.6%	2.0x	–	–	–	4.21	−20.6%	15.1x
2026	–	–	–	–	–	–	5.07	+20.4%	12.6x
2027	–	–	–	–	–	–	5.32	+4.9%	12.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	–	–	–	–	5.07	0.0%	−7.7%	−3.6%
2027	–	–	–	–	5.32	+0.2%	−8.7%	−6.8%
2028	–	–	–	–	–	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	–	–	–	–	–	–	–	–	–
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Banking Services

Peers in the same industry group, by market capitalization
Company	Market cap	Tier 1 ratio	Net margin	Deposits/loans	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
UOVEY United Overseas Bank Limited	52.9B	–	22.2%	1.31x	12.6x	12.0x	–	–
601988 Bank of China Ltd	314.9B	13.7%	22.9%	1.29x	9.2x	8.8x	0.8x	0.7x
HSBA HSBC Holdings PLC	294.5B	16.3%	21.6%	1.95x	10.2x	9.3x	1.6x	1.5x
DBSM DBS Group Holdings Ltd	159.6B	16.6%	38.6%	1.55x	17.6x	16.2x	2.9x	2.9x
OCBC Oversea-Chinese Banking Corporation Limited	99.8B	16.3%	36.5%	1.32x	15.9x	14.6x	2.0x	1.9x
NABZY National Australia Bank Limited	89.7B	–	12.0%	0.94x	20.0x	16.7x	–	–
Mean		15.7%	25.6%	1.39x	14.2x	12.9x	1.8x	1.7x
Median		16.3%	22.5%	1.31x	14.2x	13.3x	1.8x	1.7x

Technical analysis

1M−5.4%
3M−2.5%
1Y+24.8%
3Y+92.1%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, United Overseas Bank Limited, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Interest income	16,084	17,037	16,861	9,600	6,082	7,285
Total interest expense	8,807	9,951	9,524	3,373	1,346	2,716
Net interest income	7,277	7,086	7,338	6,227	4,735	4,569
Loan loss provision	1,588	678	698	450	487	1,176
Net interest income after loan loss provision	5,689	6,408	6,639	5,777	4,248	3,392
Non-interest income	4,222	4,030	3,753	2,822	2,867	2,691
Non-interest expense	−5,510	−5,200	−5,189	−4,281	−3,456	−3,407
Net income before taxes	4,401	5,238	5,203	4,318	3,660	2,677
Provision for taxes	748	800	863	897	630	459
Minority interest & equity in affiliates	−10.1	−10.3	−10.6	−7.5	−8.9	−11.4
Other	0	0	0	0	0	0
Net income before extraordinary items	3,642	4,428	4,329	3,413	3,021	2,207
Extraordinary items	–	–	–	–	–	–
Net income	3,642	4,428	4,329	3,413	3,021	2,207
Basic weighted average shares (mil)	1,663	1,673	1,674	1,674	1,674	1,670
Diluted weighted average shares (mil)	1,671	1,681	1,681	1,681	1,681	1,677
Basic EPS excluding extraordinary items	2.15	2.61	2.53	2.01	1.77	1.28
Basic EPS, normalized	2.14	2.67	2.68	2.09	1.77	1.28

Balance sheet in millions of USD, fiscal years

Balance sheet, United Overseas Bank Limited, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & due from banks	48,125	50,714	61,271	58,719	51,804	54,240
Other earning assets	94,810	71,288	67,526	53,491	42,387	38,932
Net loans	270,616	244,602	240,319	235,375	227,363	209,858
Property, plant & equipment	4,243	3,554	3,417	3,134	2,973	2,970
Goodwill	3,711	3,496	3,614	3,510	3,073	3,136
Intangibles	142	151	165	147	–	–
Long-term investments	974	954	960	939	923	916
Other long-term assets	550	481	570	418	378	325
Other assets	21,840	18,596	19,035	20,637	11,590	16,533
Total assets	445,011	393,835	396,877	376,370	340,491	326,909
Liabilities
Accounts payable	3,661	3,104	3,490	4,132	3,206	4,084
Payable/accrued	–	–	–	–	–	–
Accrued expenses	1,223	1,306	1,446	1,250	820	768
Total deposits	353,695	310,367	316,761	293,395	272,938	257,836
Other bearing liabilities	–	–	–	–	–	–
Short-term borrowings	14,370	12,501	10,378	13,335	724	600
Current portion of long-term debt	4,790	5,650	2,962	2,753	–	–
Long-term debt	16,051	12,841	15,046	14,987	25,377	22,559
Minority interest	191	164	183	179	169	174
Other liabilities	11,165	11,474	11,565	13,971	5,653	9,924
Total liabilities	405,144	357,406	361,833	344,002	308,888	295,944
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	4,117	3,920	4,057	3,994	3,967	4,012
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	34,893	32,709	31,522	28,889	26,841	25,617
Treasury stock	−342	−286	−263	−204	−250	−193
Other equity	1,199	86.4	−272	−311	1,045	1,529
Total equity	39,866	36,429	35,044	32,368	31,603	30,964
Total liabilities & shareholders' equity	445,011	393,835	396,877	376,370	340,491	326,909

Cash flow statement in millions of USD, fiscal years

Cash flow statement, United Overseas Bank Limited, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	3,652	4,438	4,340	3,421	3,030	2,218
Depreciation, depletion & amortization	606	494	471	401	362	344
Deferred taxes	–	–	–	–	–	–
Non-cash items	417	231	180	640	383	−115
Changes in working capital	−3,650	−16,040	3,171	3,080	−6,101	4,838
Cash from operations	1,025	−10,877	8,162	7,541	−2,325	7,285
Investing activities
Capital expenditures	−989	−635	−661	−525	−408	−426
Other investing cash flows	94.1	70.3	172	−2,245	81.5	39.4
Cash from investing	−895	−565	−489	−2,771	−326	−387
Financing activities
Financing cash flow items	−88.7	−106	−131	252	−76.4	−79.5
Cash dividends paid	−2,941	−2,121	−2,032	−1,500	−1,191	−1,391
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	1,608	3,053	−3,664	5,531	3,508	3,031
Cash from financing	−1,422	826	−5,827	4,282	2,240	1,560
Foreign exchange effects	−958	415	24.3	122	121	2.3
Net change in cash	−2,250	−10,201	1,869	9,175	−291	8,461
Free cash flow	35.8	−11,512	7,501	7,016	−2,733	6,859

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.