Saturday 17 October 2026 Export SHG’s income statement to Excel — free account

Shinhan Financial Group Co Ltd

Shinhan Financial Group Co Ltd’s revenue for fiscal 2025 (year ended December 2025) was $23.8 billion, roughly unchanged from fiscal 2024. In the quarter to June 2026, revenue grew 27.1%, EPS grew 10.4%, free cash flow grew 120.9% and total debt rose 1.90%, each against the same quarter a year earlier.

70.31 1.02 −1.43%

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Market cap: $33.1B
P/E: 9.5×
Fwd P/E: 9.1×
Dividend yield: 2.84%
F-score: 8/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 1.34%

Capital & Financial Ratios $m

Market Cap 33,110.00

Revenue 25,890.63

Net Income 3,840.23

Free Cash Flow 14,875.14

Net Debt 30,528.69

Current Ratio 0.98

Debt/Equity 1.45

P/E ratio 9.45

Fwd P/E 9.09

P/S ratio 1.28

P/B ratio 0.76

Past 5Y EPS Growth 4.15%

This Y EPS Growth 34.61%

Next Y EPS Growth 8.95%

Next Y revenue growth (28.72%)

Next 5Y EPS Growth 16.27%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 96.50%

10-year low 10-year high

P/S against its own 10 years 81.02%

10-year low 10-year high

P/B against its own 10 years 95.43%

10-year low 10-year high

Dividends

Payout Ratio 0.27

Annual Dividend Rate 2.00

Annual Dividend Yield 2.84%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	3,039.00	0.58 0.49 0.54
2025	2,386.00	0.37 0.41 0.41 0.39
2024	1.56	0.39 0.39 0.39 0.39
2023	1.19	0.39 0.40 0.39
2022	1.55	0.31 0.30 0.28 0.65
2021	1.62	0.26 0.22 1.14
2020	1.33	1.33
2019	1.51	1.51
2018	2.78	1.39 1.39
2017	1.35	1.35
2016	1.26	1.26

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	27,703	28,368	27,820	33,065
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	357,095	342,875	353,162	369,709

	2023	2024	2025	Q'26
Payables	305,210	295,947	313,354	332,846
ST’ Debt	—	—	—	—
Other	—	—	—	—
	350,731	330,891	352,131	375,755

Compound Annual Growth %

	10y	5y	3y
Sales	3.71%	11.03%	3.34%
Cash Flow	9.98%	0.00%	8.62%
Earnings	4.77%	4.11%	2.09%
Book Value	4.13%	2.65%	5.69%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	6,486	7,898	—	—	—
’25	6,049	6,212	5,863	5,644	23,768
’24	6,693	6,296	6,176	4,657	23,822
’23	6,444	6,618	6,596	6,784	26,442
’22	5,473	5,678	5,577	4,809	21,537
’21	3,996	5,765	4,899	1,311	15,972
’20	5,132	5,256	5,283	(1,583)	14,088

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	9,413	796	—	—	—
’25	4,553	(2,973)	8,685	(3,453)	6,812
’24	(991)	(873)	4,746	356	3,238
’23	3,002	6,117	(4,890)	(3,805)	424
’22	515	220	(2,141)	6,720	5,315
’21	3,521	(316)	4,753	2,014	9,972
’20	(179)	406	(942)	(2,813)	(3,527)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	9,204	647	—	—	—
’25	4,447	(3,091)	8,599	(3,575)	6,381
’24	(1,131)	(1,005)	4,621	218	2,704
’23	2,891	6,014	(5,072)	(3,948)	(116)
’22	339	115	(2,236)	6,518	4,736
’21	3,353	(421)	4,602	1,669	9,203
’20	(295)	324	(960)	(2,907)	(3,838)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	2.21	2.50	—	—	—
’25	2.01	2.27	2.05	0.68	6.91
’24	1.89	1.97	1.76	1.94	6.19
’23	2.00	1.75	1.68	0.75	6.16
’22	2.12	1.94	2.18	0.41	6.54
’21	1.95	2.06	1.62	0.68	6.38
’20	1.48	1.44	1.91	0.69	5.64

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	29.08	36.78	34.41	32.14	17.09	27.51	22.98	24.99	27.09	28.76	Analyst estimates 2026–2028 Powerpack
	High	40.92	48.98	50.37	40.59	37.76	39.17	34.92	36.64	46.05	56.13
People
People	Employees	147	143	156	157	152	165	171	173	173	175
	Revenue/emp, $m	114.54	118.18	120.45	133.76	92.69	96.80	125.95	152.85	137.70	135.82
Income, $m
Income, $m	Revenue	16,837	16,900	18,790	21,000	14,088	15,972	21,537	26,442	23,822	23,768
	Gross margin, %	78.45	79.29	75.82	77.26	72.22	77.71	75.15	49.29	47.68	52.01
	EBT	2,853	3,359	4,065	3,929	3,803	5,025	4,444	4,772	4,220	4,850
	EBT margin, %	16.95	19.87	21.63	18.71	26.99	31.46	20.64	18.05	17.72	20.41
	Net income	2,853	3,359	4,065	3,929	3,803	5,025	4,444	3,582	3,191	3,559
	Depreciation	234	224	275	542	615	812	738	948	896	907
Per share, $
Per share, $	Revenue	35.51	35.64	39.67	43.99	28.16	29.91	40.59	50.93	47.06	48.86
	Earnings	4.94	5.73	5.99	5.96	5.64	6.38	6.54	6.16	6.19	6.91
	Cash flow	7.21	1.91	(12.14)	12.03	(7.05)	18.67	10.02	0.82	6.40	14.00
	Capex	(0.62)	(0.46)	(0.49)	(0.86)	(0.62)	(1.44)	(1.09)	(1.04)	(1.06)	(0.88)
	Free cash flow	6.59	1.45	(12.64)	11.17	(7.67)	17.23	8.93	(0.22)	5.34	13.12
	Book value	60.25	62.88	70.42	70.27	74.12	83.48	67.45	86.78	81.34	86.87
	Shares, m	474	474	474	477	500	534	531	519	506	486
Valuation, ×
Valuation, ×	P/E	4.12	8.96	3.45	6.28	5.39	4.90	4.13	4.85	4.35	7.66
	P/S	1.08	1.31	0.89	0.87	1.06	1.03	0.68	0.59	0.70	1.10
	P/B	0.64	0.74	0.50	0.54	0.40	0.37	0.41	0.35	0.40	0.62
	EV/Sales	1.00	1.32	3.12	2.65	3.43	3.95	2.23	2.01	2.26	2.67
	EV/FCF	5.40	32.61	(9.78)	10.45	(12.58)	6.85	10.14	(457.13)	19.94	9.93
Cash, $m
Cash, $m	Operating cash flow	3,417	904	(5,751)	5,743	(3,527)	9,972	5,315	424	3,238	6,812
	Capex	(294)	(217)	(234)	(410)	(311)	(769)	(579)	(540)	(535)	(430)
	Free cash flow	3,123	686	(5,985)	5,333	(3,838)	9,203	4,736	(116)	2,704	6,381
Balance, $m
Balance, $m	Working capital	38,231	42,332	20,147	17,545	17,297	8,574	6,674	6,364	11,984	1,031
	Total debt	39,894	45,425	57,537	60,291	60,108	72,134	54,102	65,249	65,636	65,094
	Net debt	(1,395)	184	41,750	37,552	33,379	46,526	33,430	37,546	37,268	37,274
	Shareholders’ equity	28,570	29,819	33,353	33,544	37,085	44,585	35,791	45,057	41,175	42,261
Returns, %
Returns, %	ROA	0.72	0.70	0.71	0.62	0.59	0.66	0.59	0.65	0.56	0.63
	ROIC	9.04	8.87	3.38	3.45	3.37	3.45	4.01	3.61	3.36	3.81
	ROE	8.63	8.79	8.98	7.99	7.74	8.60	7.81	8.27	6.94	8.01

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
FITB Fifth Third Bancorp	$45.7B	17.0×	17.0×	+37.01% (above 0%: growing)	−4.55% (below 0%: shrinking)	+125.45% (above 0%: growing)	73.89%	0.00%	Compare
KB KB Financial Group Inc	$41.7B	10.1×	—	+25.89% (above 0%: growing)	+12.12% (above 0%: growing)	+482.05% (above 0%: growing)	61.64%	0.00%	Compare
SHG Shinhan Financial Group Co Ltd	$33.1B	9.5×	9.1×	+27.14% (above 0%: growing)	+10.37% (above 0%: growing)	+120.93% (above 0%: growing)	63.24%	0.00%
MTB M&T Bank Corporation	$31.6B	11.3×	11.9×	+2.07% (above 0%: growing)	+25.59% (above 0%: growing)	+52.44% (above 0%: growing)	75.36%	0.00%	Compare
HBAN Huntington Bancshares Incorporated	$31.0B	11.6×	11.3×	+37.66% (above 0%: growing)	−2.86% (below 0%: shrinking)	+105.40% (above 0%: growing)	68.08%	0.00%	Compare
BAP Credicorp Ltd.	$30.9B	14.5×	10.9×	+12.23% (above 0%: growing)	+16.83% (above 0%: growing)	+76.09% (above 0%: growing)	82.34%	0.00%	Compare
BBDO Banco Bradesco SA	$28.5B	8.6×	—	+32.31% (above 0%: growing)	+30.00% (above 0%: growing)	−266.98% (below 0%: shrinking)	36.36%	0.00%	Compare
CFG Citizens Financial Group, Inc.	$26.7B	13.6×	12.3×	+6.25% (above 0%: growing)	+40.86% (above 0%: growing)	−17.35% (below 0%: shrinking)	71.46%	0.00%	Compare
RF Regions Financial Corporation	$23.3B	11.1×	10.9×	−2.14% (below 0%: shrinking)	+8.47% (above 0%: growing)	−39.63% (below 0%: shrinking)	80.19%	0.00%	Compare
Median of peers	$30.9B	11.4×	11.6×	+19.06%	+14.48%	+64.26%	72.68%	0.00%

All 323 Banks Regional stocks →

Shinhan Financial Group Co Ltd (SHG) key facts

Shinhan Financial Group Co Ltd (SHG) is a Banks Regional company in the Financial sector, traded in the US as an ADR.
Shinhan Financial Group Co Ltd’s revenue for fiscal 2025 (year ended December 2025) was $23.8 billion, roughly unchanged from fiscal 2024.
As of October 16, 2026, SHG traded at $70.31, a market capitalization of $33.1 billion.
Shinhan Financial Group Co Ltd pays an annual dividend of $2.00 per share, a yield of 2.84%, with a payout ratio of 26.9%.
Return on equity was 8.01% and debt-to-equity 1.45.
Its Piotroski F-score is 8 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.