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Union Bank of TaiwanTPE:2838 +0.72%76 Cyclically Adjusted PB Ratio is 1.46 as of Aug. 03, 2026, which is 47% above its 10-year median of 0.99. GuruFocus rates TPE:2838 with a GF Score™ of 76/100 and a GF Value™ of NT$15.43 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,286 Banks companies, Union Bank of Taiwan ranks worse than 58.79% on this metric.
The historical rank and industry rank for Union Bank of Taiwan's Cyclically Adjusted PB Ratio or its related term are showing as below:
TPE:2838'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.73 Med: 0.99 Max: 1.56
Current: 1.44
During the past years, Union Bank of Taiwan's highest Cyclically Adjusted PB Ratio was 1.56. The lowest was 0.73. And the median was 0.99.
TPE:2838's Cyclically Adjusted PB Ratio is ranked worse than 58.79% of 1286
companies
in the Banks industry
Industry Median: 1.27
vs TPE:2838: 1.44
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.
Union Bank of Taiwan's adjusted book value per share data for the three months ended in Dec. 2025 was NT$18.100. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is NT$14.36 for the trailing ten years ended in Dec. 2025.
Shiller PE for Stocks: The True Measure of Stock Valuation
Union Bank of Taiwan (TPE:2838) Cyclically Adjusted PB Ratio Explanation
Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.
Union Bank of Taiwan Cyclically Adjusted PB Ratio Related Terms
Union Bank of Taiwan Cyclically Adjusted PB Ratio Historical Data
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The historical data trend for Union Bank of Taiwan's Cyclically Adjusted PB Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Union Bank of Taiwan Cyclically Adjusted PB Ratio Chart
Union Bank of Taiwan Cyclically Adjusted PB Ratio Competitor Comparison
For the Banks - Regional subindustry, Union Bank of Taiwan's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Union Bank of Taiwan Cyclically Adjusted PB Ratio vs Banks Industry
For the Banks industry and Financial Services sector, Union Bank of Taiwan's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Union Bank of Taiwan's Cyclically Adjusted PB Ratio falls into.
Union Bank of Taiwan Cyclically Adjusted PB Ratio Calculation
Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
What does a Cyclically Adjusted PB Ratio of 1.46 mean?
Union Bank of Taiwan (TPE:2838) has a Cyclically Adjusted PB Ratio of 1.46 as of Aug. 03, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Union Bank of Taiwan and its competitors. This is 47% above median its historical median of 0.99. Over the past decade, Union Bank of Taiwan's Cyclically Adjusted PB Ratio has ranged from 0.73 to 1.56. According to the industry distribution chart, Union Bank of Taiwan ranks #756 out of 1286 companies in the Banks industry, placing it in the top 58.8%.
Is Union Bank of Taiwan's Cyclically Adjusted PB Ratio too high?
Union Bank of Taiwan's current Cyclically Adjusted PB Ratio of 1.46 is 47% above median its 10-year median of 0.99. Over the past 10 years, this metric has ranged from a low of 0.73 to a high of 1.56. The Banks industry median Cyclically Adjusted PB Ratio is 1.27. Union Bank of Taiwan's value of 1.46 is 15% above this industry median. Based on the distribution chart, Union Bank of Taiwan ranks #756 out of 1286 companies in the Banks industry, which is below the industry midpoint. Overall, Union Bank of Taiwan has a GF Score™ of 76/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Union Bank of Taiwan's Cyclically Adjusted PB Ratio compare to competitors?
According to the Banks industry distribution chart, Union Bank of Taiwan ranks #756 out of 1286 companies for Cyclically Adjusted PB Ratio. This places Union Bank of Taiwan in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.27. Union Bank of Taiwan's value of 1.46 is 15% above this benchmark. Historically, Union Bank of Taiwan's own Cyclically Adjusted PB Ratio has ranged from 0.73 to 1.56 over the past decade. While the company's 10-year median is 0.99 vs. the industry median of 1.27, Union Bank of Taiwan has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Banks company?
The median Cyclically Adjusted PB Ratio among Banks companies is 1.27, based on 1,286 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Union Bank of Taiwan's current Cyclically Adjusted PB Ratio of 1.46 is 15% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Union Bank of Taiwan and its competitors. For the Banks industry, the median Cyclically Adjusted PB Ratio is 1.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Union Bank of Taiwan's current Cyclically Adjusted PB Ratio is 1.46, which is 47% above median its own 10-year median of 0.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Union Bank of Taiwan stock overvalued right now?
Based on GuruFocus' analysis, Union Bank of Taiwan (TPE:2838) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$15.43, compared to a current price of NT$20.90 — trading 35.5% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.46, which is 47% above median its 10-year median of 0.99 and 15% above the Banks industry median of 1.27. Union Bank of Taiwan's overall GF Score™ is 76/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Union Bank of Taiwan (TPE:2838), the current Cyclically Adjusted PB Ratio is 1.46 as of Aug. 03, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Union Bank of Taiwan (TPE:2838) Overvalued in 2026?
Based on GuruFocus' analysis, Union Bank of Taiwan stock appears to be overvalued.
The current stock price of NT$20.90 is trading 35.5% above its estimated GF Value™ of NT$15.43.
GuruFocus considers Union Bank of Taiwan to be Significantly Overvalued.
Key valuation signals for TPE:2838:
Cyclically Adjusted PB Ratio: 1.46 (47% above median its 10-year median of 0.99)
GF Value™: NT$15.43 vs. price of NT$20.90 (35.5% above fair value)
Industry Position: 15% above the Banks median (#756 of 1286)
No single metric tells the full story. See the TPE:2838 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Union Bank of Taiwan mainly engaged in activities allowed under the Banking Law, which cover deposits, loans, discounts, remittances, acceptances, issuance of guarantees and letters of credit, short-term bills transactions, investments, foreign exchange transactions, savings, trust, etc. The company's reportable segments are Corporate banking unit consist Corporate banking, foreign exchange business, debt management and public treasury business; Consumer banking unit consider financial management and loan business, credit card business and car-loan business; Wealth management and trust unit; Investing unit; and Leasing unit. The majority of revenue comes from Consumer banking. The Company's operations are mainly in Taiwan.
76GF Score
Get the complete analysis for TPE:2838
Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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