UOB (U11) AI Stock Analysis

• Market Cap: $60.06B
• Dividend Yield: 6.49%
• Average Volume (3M): 3.33M
• Price to Earnings (P/E): 12.7
• Beta (1Y): 1.14
• Revenue Growth: -0.76%
• EPS Growth: 4.96%
• Country: SG
• Employees: 32,071
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.81
• Shares Outstanding: 1,666,612,200
• 10 Day Avg. Volume: 2,818,957
• 30 Day Avg. Volume: 3,331,667
• PEG Ratio: -0.57
• Price to Book (P/B): 1.16
• Price to Sales (P/S): 2.28
• P/FCF Ratio: 13.55
• Enterprise Value/Market Cap: 0.60
• Enterprise Value/Revenue: 1.86
• Enterprise Value/Gross Profit: 2.90
• Enterprise Value/Ebitda: 5.60
• 1Y Price Target: $37.89
• Price Target Upside: 5.76% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 3
• EPS Forecast (FY): 3.41
• Revenue Forecast (FY): $14.30B

• Rating: 64 Neutral
• Price Target: S$40.00 ▲(11.64% Upside)
• Action: Reiterated Date: 03/02/26
• Date: Action: Reiterated 03/02/26

The score is anchored by solid financial performance (scale and improved leverage) and supportive valuation (high dividend yield and moderate P/E). These strengths are tempered by weak technical momentum and notable cash-flow volatility, which increase near-term risk.

Positive Factors

Revenue Scale Expansion

UOB’s material revenue expansion into 2023–2025 reflects a durable customer franchise and market reach. Sustained higher revenue provides recurring cash inflows to invest in digital channels, broaden product distribution, and build reserve buffers, supporting stable core earnings and cross-sell over the medium term.

Stronger Capital and Leverage

A sizable capital base and meaningful leverage improvement in 2025 materially reduce solvency and regulatory risk. Stronger equity cushions increase capacity for prudent lending growth, regulatory compliance and shock absorption, enhancing the bank’s ability to pursue strategic initiatives over the next several quarters.

Diversified Business Model

UOB’s diversified footprint across retail, wholesale, commercial banking and wealth management spreads revenue sources and client exposures. Multiple interest, fee and treasury channels reduce cyclicality, support margins and enable cross-selling, strengthening structural resilience across Asian markets.

Negative Factors

Cash-Flow Volatility

The large negative operating and free cash flow swing in 2024 and ongoing free cash flow volatility weaken predictability of capital allocation. Inconsistent cash conversion complicates dividend planning, loan growth funding and provisioning, reducing confidence in sustainable cash returns over the medium term.

Margin and Earnings Pressure

Despite scale, margin compression and a decline in 2025 earnings versus 2024 signal pressure on profitability. Continued margin erosion—from funding cost increases, competitive pricing, or higher credit costs—could impair ROE and limit reinvestment or buffer-building over the next several quarters.

Notable Absolute Debt Load

Although leverage improved, the bank’s absolute debt load remains sizable, raising sensitivity to funding stress and interest-rate moves. High nominal debt can constrain capital flexibility for M&A or higher loan-loss provisioning and increases the importance of maintaining stable deposit funding over time.

UOB Business Overview & Revenue Model

Company Description

United Overseas Bank Limited, together with its subsidiaries, provides banking products and services. It operates through three segments: Group Retail, Group Wholesale Banking, and Global Markets. The company offers loan products, including overdraft, cash credit, short term, and long-term loans. It also provides buyers credit, structured trade finance, SGD bonds, loan syndication, and M&A services. In addition, the company offers forex, documentary collection, credit, bank guarantee, export and import finance services. Further, the company provides inward and outward remittances, FX spot and forward, current account, and time deposit services. Additionally, the company offers letter of credit advising and negotiation/discounting services; and import and export services comprising of inward and outward bill collection services, and documents against acceptance and payment. Furthermore, the company provides private, commercial, corporate, and investment banking services. It also offers corporate finance, treasury, future broking, asset management, venture capital management, insurance, and stockbroking services; engages in capital market, credit card, and private residential home loan businesses; and loans to small and medium enterprises. The company operates approximately 500 branches and offices in Singapore, Malaysia, Indonesia, Thailand, China, and internationally. United Overseas Bank Limited was incorporated in 1935 and is headquartered in Singapore.

How the Company Makes Money

UOB generates revenue primarily through interest income from loans and investments, fees from various banking services, and commissions from financial products. Key revenue streams include the interest spread from personal and corporate loans, fees from credit and debit card transactions, and service charges for account maintenance and other banking services. Additionally, UOB earns income from wealth management services and investment banking activities. The bank also engages in strategic partnerships with fintech companies and other financial institutions to enhance its service offerings and expand its customer base, contributing to its overall earnings.

UOB Financial Statement Overview

Summary

Strong revenue scale with material expansion into 2023–2025 supports fundamentals, and leverage improved meaningfully in 2025 (lower debt-to-equity). Offsetting this, profitability and returns cooled in 2025 versus 2023–2024, and cash-flow quality is a key risk due to the large 2024 negative swing and volatile free cash flow.

Income Statement

Revenue scale is strong and has expanded materially over time, with a sharp step-up into 2023–2025 and especially strong growth in 2025. Profitability remains solid (healthy net profit margins across years), but margins have compressed from earlier peaks and 2025 earnings declined versus 2024, indicating more recent pressure on operating performance after a very strong 2024.

Balance Sheet

Capital base is sizable with equity steadily growing, and leverage has improved meaningfully in 2025 (debt-to-equity down from 2023–2024 levels), which is a positive de-risking signal. Returns on equity are consistently positive and generally solid for the period, but they have cooled in 2025 versus 2023–2024 and overall leverage remains notable given the absolute debt load.

Cash Flow

Cash generation is mixed: operating cash flow and free cash flow are positive in most years and 2025 free cash flow covers a meaningful portion of net income. However, 2024 shows a large negative operating and free cash flow swing, and free cash flow growth is highly volatile (sharp decline in 2025), reducing confidence in consistency and predictability of cash conversion.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	26.10B	27.87B	26.50B	16.10B	9.13B
Gross Profit	12.74B	13.36B	13.01B	10.97B	9.13B
EBITDA	6.41B	21.38B	20.02B	10.84B	7.22B
Net Income	4.68B	6.04B	5.71B	4.57B	4.08B
Balance Sheet
Total Assets	572.06B	537.66B	523.52B	504.26B	459.32B
Cash, Cash Equivalents and Short-Term Investments	74.25B	76.01B	87.44B	78.67B	69.88B
Total Debt	44.99B	64.13B	71.66B	68.16B	52.17B
Total Liabilities	520.57B	487.71B	477.05B	463.43B	418.84B
Stockholders Equity	51.25B	49.73B	46.23B	43.37B	42.63B
Cash Flow
Free Cash Flow	4.39B	-15.72B	5.60B	5.36B	4.11B
Operating Cash Flow	5.66B	-14.85B	6.47B	6.06B	4.66B
Investing Cash Flow	-21.44B	-771.00M	-645.00M	-3.71B	-440.00M
Financing Cash Flow	29.64B	1.13B	19.27B	34.30B	32.63B

UOB Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 35.83
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:U11, the sentiment is Neutral. The current price of 35.83 is below the 20-day moving average (MA) of 38.10, below the 50-day MA of 37.07, and above the 200-day MA of 35.35, indicating a neutral trend. The MACD of -0.20 indicates Positive momentum. The RSI at 35.87 is Neutral, neither overbought nor oversold. The STOCH value of 15.47 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SG:U11.

UOB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
D05	73 Outperform	S$157.99B	14.63	17.10%	5.06%	2.67%	6.32%
U10	72 Outperform	S$3.19B	10.26	10.50%	4.63%	7.87%	-4.03%
O39	71 Outperform	S$93.93B	12.12	12.87%	4.71%	0.69%	-0.06%
S41	71 Outperform	S$1.13B	18.75	4.02%	4.87%	-10.51%	-15.79%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
U11	64 Neutral	$60.06B	12.70	12.80%	6.49%	-0.76%	4.96%
YF8	64 Neutral	S$974.53M	-271.06	8.61%	3.76%	-9.47%	131.72%

UOB Corporate Events

UOB Highlights Resilient Earnings and Stable ASEAN Franchise

UOB Group reported resilient earnings and stable franchise growth across ASEAN, underscoring the strength of its regional banking operations despite broader market, financial and political risks. The group emphasised that the information provided is general in nature, not tailored investment advice, and reminded investors to consider their own objectives and seek independent financial guidance, highlighting the inherent risks in securities and financial product transactions.

The most recent analyst rating on (SG:U11) stock is a Hold with a S$37.00 price target. To see the full list of analyst forecasts on UOB stock, see the SG:U11 Stock Forecast page.

UOB underscores resilient ASEAN growth while cautioning investors on risks

UOB Group has presented material highlighting its resilient earnings and stable franchise growth across ASEAN, positioning itself as a steady player in the regional banking sector. The release frames the information as general background rather than investment advice, emphasising that all financial transactions carry market, political and currency risks and that investors should seek independent guidance before making decisions.

The bank distances itself from liability for the use of the presentation’s contents and underscores that the information is not comprehensive, signalling a cautious approach to disclosure and investor expectations. By stressing that the material cannot be copied or disseminated, UOB also seeks to maintain control over the distribution of its financial communications while reinforcing the need for tailored advice given differing investor profiles and risk tolerances.

The most recent analyst rating on (SG:U11) stock is a Hold with a S$37.00 price target. To see the full list of analyst forecasts on UOB stock, see the SG:U11 Stock Forecast page.

UOB Explores Market Interest for One Raffles Place Stake

United Overseas Bank has confirmed that it is working with OUB Centre Limited to gauge market interest for iconic commercial property One Raffles Place in Singapore, following media reports suggesting a potential multi-billion-dollar sale. OUB Centre Limited owns the asset, with UOB holding 18.46% of the beneficial interest in trust and a further 8.15% indirect stake via its shareholding in OUB Centre.

The bank cautioned that there is no certainty any binding agreement or transaction will result from this exploratory exercise and said it will decide on next steps based on the outcome and the best interests of shareholders. UOB pledged to make further disclosures through SGXNET in line with Singapore Exchange rules and urged shareholders and potential investors to exercise caution when dealing in its shares and to seek professional advice where necessary.

The most recent analyst rating on (SG:U11) stock is a Hold with a S$41.00 price target. To see the full list of analyst forecasts on UOB stock, see the SG:U11 Stock Forecast page.

UOB Prices GBP750 Million Covered Bonds to Bolster Financial Strategy

United Overseas Bank Limited has announced the pricing of GBP750,000,000 in Floating Rate Covered Bonds due in June 2029 under its US$15 billion Global Covered Bond Programme. This issuance, managed by UOB alongside Bank of Montreal and RBC Europe Limited, reflects the bank’s strategy to strengthen its funding base and enhance its financial offerings, potentially impacting its market position and stakeholder interests positively.

The most recent analyst rating on (SG:U11) stock is a Hold with a S$36.50 price target. To see the full list of analyst forecasts on UOB stock, see the SG:U11 Stock Forecast page.