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STOCK COMPARISON

DBS Group Holdings vs Shinhan Financial Group Co: Fair Value & Quality

Both stocks run through our valuation models. Here is how DBS Group Holdings (D05) and Shinhan Financial Group Co (SHG) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Shinhan Financial Group Co as the less overvalued of the two: DBS Group Holdings trades at S$78.65 versus a fair value of S$40.48 (-49%), while Shinhan Financial Group Co trades at $84.47 versus $44.60 (-47%).
DBS Group Holdings
D05.SG · SGD · Financials
-49%
upside to fair value
overvalued
PriceS$78.65
Fair ValueS$40.48
Quality65/100
Shinhan Financial Group Co
SHG · USD · Financials
-47%
upside to fair value
overvalued
Price$84.47
Fair Value$44.60
Quality60/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

DBS Group HoldingsShinhan Financial Group Co
Valuation
18.7×P/E (TTM)12.6×
7.23×P/S (TTM)—
2.34×P/B—
3.44×PEG5.10×
−48.5%Fair value upside−47.2%
3.6%Dividend yield2.8%
S$2.85Dividend per share$2,760
Profitability
60%Operating margin51%
0.99×EBIT margin trend (5Y)1.08×
16%Return on equity9%
1%Return on assets1%
Growth
3%Revenue growth (YoY)7%
11.6%Avg. growth/yr (3Y)12.2%
9.4%Avg. growth/yr (5Y)6.2%
+12.6%Value creation/yr+9.8%
Balance & size
0.6×Interest coverage (EBIT/interest)0.4×
0.69×Debt / equity2.48×
$161BMarket cap$31B
healthyGrowth qualitymixed

DBS Group Holdings leads: 8 to 4 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

DBS Group Holdingsof which business quality 61 · market factors 96 Shinhan Financial Group Coof which business quality 53 · market factors 88
ProfitabilityMargins and returns on capital today
38
26
Quality GrowthAre margins and returns improving?
54
55
CashflowEarnings quality: real cash, not paper profit
84
78
Fin. StrengthBalance sheet, leverage, solvency risk
56
9
InvestmentDisciplined investing over empire-building
78
88
Low VolatilityCalm price path (market factor)
99
74
MomentumPrice trend over the last 3–12 months (market factor)
91
91
52W MomentumDistance to the 52-week high (market factor)
100
100
Net IssuanceBuybacks instead of dilution
65
95

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyDBS Group HoldingsPrice S$78.65Shinhan Financial Group CoPrice $84.47
Dividend Discount-30%below the priceS$54.87-60%below the price$34.02
Multiples-47%below the priceS$42.04+174789%above the price$147,729
Asset-Based-79%below the priceS$16.26+89529%above the price$75,709
Economic Profit-59%below the priceS$32.23+126362%above the price$106,822
Minimum-79%below the priceS$16.26-60%below the price$34.02
Maximum-30%below the priceS$54.87+174789%above the price$147,729
Median-53%below the priceS$37.13+107945%above the price$91,266
Geometric mean-58%below the priceS$33.16+16709%above the price$14,198

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

DBS Group Holdings: 6 of 6 models see the stock below the current price.

Shinhan Financial Group Co: 2 of 6 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

DBS Group Holdings
Bear S$30.36Fair Value S$40.48Bull S$50.60
S$78.65 = current price (white tick)
Shinhan Financial Group Co
Bear $33.45Fair Value $44.60Bull $55.75
$84.47 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

DBS Group Holdings · Financials

Quality score65 · Top 25%
Fair value upside-49% · bottom 25%

Shinhan Financial Group Co · Financials

Quality score60 · above median
Fair value upside-47% · bottom 25%

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Shinhan Financial Group Co as the less overvalued of the two: DBS Group Holdings trades at S$78.65 versus a fair value of S$40.48 (-49%), while Shinhan Financial Group Co trades at $84.47 versus $44.60 (-47%).

DBS Group Holdings has the higher quality score (65/100).

See the full analysis →
DBS Group Holdings · Shinhan Financial Group Co

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.