(SHG) Shinhan Financial - Ratings and Ratios

Exchange: NYSE • Country: South Korea • Currency: USD • Type: Common Stock • ISIN: US8245961003

Banking, Card, Securities, Insurance, Credit

Stock: Diversified Banks
Age 22.4y

MCap 26,337m
Avg Vol 138K (7.56M USD)

Beta 0.685
Volatility 33.31%

EPS (Earnings per Share)

Revenue

Rev. CAGR: -9.61%
Rev. Trend: 4.1%

Qual. Beats: 0

Dividends

Dividend Yield	3.65%
Yield on Cost 5y	6.81%
Yield CAGR 5y	-2.14%
Payout Consistency	84.7%
Payout Ratio	-

Risk via 5d forecast
Volatility	33.3%
Value at Risk 5%th	49.1%
Relative Tail Risk	-10.43%

Reward TTM
Sharpe Ratio	1.98
Alpha	67.13
CAGR/Max DD	0.77

Character TTM
Hurst Exponent	0.364
Beta	0.685
Beta Downside	0.526

Drawdowns 3y
Max DD	35.19%
Mean DD	12.99%
Median DD	12.02%

Description: SHG Shinhan Financial December 17, 2025

Shinhan Financial Group Co., Ltd. (NYSE: SHG) is a diversified South Korean financial services firm operating across six segments: Commercial Banking, Credit Card, Securities, Insurance, Credit, and Others. Its retail banking suite includes demand deposits, savings, mortgages, and electronic banking, while its corporate arm delivers investment banking, real-estate financing, structured finance, and M&A advisory. The group also runs treasury and investment activities in global capital markets, offering foreign-currency securities trading, FX services, trade finance, and asset-management solutions.

Key performance indicators from the latest quarter (Q3 2024) show a net profit of KRW 2.1 trillion, a return on equity (ROE) of 9.3 %, and a net interest margin (NIM) of 1.7 %, reflecting modest earnings growth amid a flattening Korean yield curve. The bank’s loan-to-deposit ratio remains near 90 %, indicating ample liquidity, while its digital banking users grew 12 % YoY, underscoring the sector-wide shift toward fintech channels. Macro-drivers such as South Korea’s gradual interest-rate normalization and tightening housing-market regulations are likely to pressure credit-growth margins but also create opportunities in wealth-management and insurance cross-selling.

For a deeper dive into Shinhan’s valuation dynamics and scenario analysis, you might find ValueRay’s data platform a useful next step.

Piotroski VR‑10 (Strict, 0-10) 4.0

Net Income: 4867.04b TTM > 0 and > 6% of Revenue
FCF/TA: -0.01 > 0.02 and ΔFCF/TA -0.92 > 1.0
NWC/Revenue: -1273 % < 20% (prev -841.1%; Δ -432.3% < -1%)
CFO/TA -0.01 > 3% & CFO -6154.13b > Net Income 4867.04b
Net Debt (86607.92b) to EBITDA (4736.34b): 18.29 < 3
Current Ratio: 0.33 > 1.5 & < 3
Outstanding Shares: last quarter (484.2m) vs 12m ago -3.93% < -2%
Gross Margin: 61.66% > 18% (prev 0.88%; Δ 6078 % > 0.5%)
Asset Turnover: 3.20% > 50% (prev 4.82%; Δ -1.62% > 0%)
Interest Coverage Ratio: 0.32 > 6 (EBITDA TTM 4736.34b / Interest Expense TTM 12777.91b)

Altman Z'' -2.33

A: -0.40 (Total Current Assets 153819.85b - Total Current Liabilities 464882.72b) / Total Assets 782940.31b
B: 0.05 (Retained Earnings 41615.68b / Total Assets 782940.31b)
C: 0.01 (EBIT TTM 4077.68b / Avg Total Assets 764168.41b)
D: 0.06 (Book Value of Equity 45768.51b / Total Liabilities 722362.70b)
Altman-Z'' Score: -2.33 = D

Beneish M 1.00

DSRI: 650.5 (Receivables 17476.26b/39.50b, Revenue 24426.97b/35910.21b)
GMI: 1.43 (GM 61.66% / 88.28%)
AQI: 0.98 (AQ_t 0.80 / AQ_t-1 0.81)
SGI: 0.68 (Revenue 24426.97b / 35910.21b)
TATA: 0.01 (NI 4867.04b - CFO -6154.13b) / TA 782940.31b)
Beneish M-Score: 531.6 (Cap -4..+1) = D

ValueRay F-Score (Strict, 0-100) 35.09

1. Piotroski: 4.0pt
2. FCF Yield: -5.33%
3. FCF Margin: -27.22%
4. Debt/Equity: 2.24
5. Debt/Ebitda: 18.29
6. ROIC - WACC: -2.13%
7. RoE: 8.54%
8. Revenue Trend: 4.08%
9. EPS Trend: data missing

What is the price of SHG shares?

As of January 28, 2026, the stock is trading at USD 60.74 with a total of 207,550 shares traded.
Over the past week, the price has changed by +9.17%, over one month by +11.84%, over three months by +16.23% and over the past year by +78.90%.

Is SHG a buy, sell or hold?

Shinhan Financial has received a consensus analysts rating of 5.00. Therefore, it is recommended to buy SHG.

StrongBuy: 1
Buy: 0
Hold: 0
Sell: 0
StrongSell: 0

What are the forecasts/targets for the SHG price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	70.7	16.4%
Analysts Target Price	70.7	16.4%
ValueRay Target Price	80.4	32.4%

SHG Fundamental Data Overview January 21, 2026

Market Cap KRW = 38078.15b (26.34b USD * 1445.78 USD.KRW)
P/E Trailing = 8.1839
P/E Forward = 4.0833
P/S = 0.0017
P/B = 0.6702
P/EG = 5.1048
Revenue TTM = 24426.97b KRW
EBIT TTM = 4077.68b KRW
EBITDA TTM = 4736.34b KRW
Long Term Debt = 129486.81b KRW (from longTermDebt, last quarter)
Short Term Debt = 11573.79b KRW (from shortTermDebt, last fiscal year)
Debt = 129788.11b KRW (from shortLongTermDebtTotal, last quarter)
Net Debt = 86607.92b KRW (from netDebt column, last quarter)
Enterprise Value = 124686.07b KRW (38078.15b + Debt 129788.11b - CCE 43180.19b)
Interest Coverage Ratio = 0.32 (Ebit TTM 4077.68b / Interest Expense TTM 12777.91b)
EV/FCF = -18.76x (Enterprise Value 124686.07b / FCF TTM -6647.87b)
FCF Yield = -5.33% (FCF TTM -6647.87b / Enterprise Value 124686.07b)
FCF Margin = -27.22% (FCF TTM -6647.87b / Revenue TTM 24426.97b)
Net Margin = 19.92% (Net Income TTM 4867.04b / Revenue TTM 24426.97b)
Gross Margin = 61.66% ((Revenue TTM 24426.97b - Cost of Revenue TTM 9364.09b) / Revenue TTM)
Gross Margin QoQ = 100.0% (prev 46.39%)
Tobins Q-Ratio = 0.16 (Enterprise Value 124686.07b / Total Assets 782940.31b)
Interest Expense / Debt = 3.16% (Interest Expense 4103.23b / Debt 129788.11b)
Taxrate = 25.55% (498.43b / 1950.62b)
NOPAT = 3035.73b (EBIT 4077.68b * (1 - 25.55%))
Current Ratio = 0.33 (Total Current Assets 153819.85b / Total Current Liabilities 464882.72b)
Debt / Equity = 2.24 (Debt 129788.11b / totalStockholderEquity, last quarter 57870.56b)
Debt / EBITDA = 18.29 (Net Debt 86607.92b / EBITDA 4736.34b)
Debt / FCF = -13.03 (negative FCF - burning cash) (Net Debt 86607.92b / FCF TTM -6647.87b)
Total Stockholder Equity = 56983.02b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.64% (Net Income 4867.04b / Total Assets 782940.31b)
RoE = 8.54% (Net Income TTM 4867.04b / Total Stockholder Equity 56983.02b)
RoCE = 2.19% (EBIT 4077.68b / Capital Employed (Equity 56983.02b + L.T.Debt 129486.81b))
RoIC = 1.61% (NOPAT 3035.73b / Invested Capital 189094.29b)
WACC = 3.73% (E(38078.15b)/V(167866.26b) * Re(8.44%) + D(129788.11b)/V(167866.26b) * Rd(3.16%) * (1-Tc(0.26)))
Discount Rate = 8.44% (= CAPM, Blume Beta Adj.)
Fair Price DCF = unknown (Cash Flow -6647.87b)
Revenue Correlation: 4.08 | Revenue CAGR: -9.61% | SUE: N/A | # QB: 0

Additional Sources for SHG Stock

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