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Shinhan Financial Group Co Ltd

SHG Financial Banks Regional

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%
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% (at or above 15%: strong)
Next Y EPS Growth 8.95%
Next Y revenue growth (28.72%) (below 0%: weak)
Next 5Y EPS Growth 16.27% (at or above 15%: strong)

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.

Target Price Range

Analyst price targets

Recommendation Rating

1.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

Shinhan Financial Group Co Ltd vs peers in Banks Regional (Q) = latest quarter vs a year earlier

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.

Shinhan Financial Group Co Ltd (SHG) Latest News

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stockrow.com/SHG · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com