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BNK Financial Group Inc (138930) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of BNK Financial Group Inc KRW 31,864, price KRW 15,970, upside +99.5%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Financial Services · KR · ISIN KR7138930003

BF Some data Sep 24, 2026

BNK Financial Group Inc

138930 · KO

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value 31,864 KRW · Strongly undervalued (+100%)
!Quality 44/100
!Expensive Growth (revenue 5y +6.5 %/yr)
✓Solidly profitable · 14.3% net margin (TTM)
!Moderate debt · negative free cash flow
·4.79% dividend yield
!Trails peers (3/9)
!Moderate moat 55/100
!Evidence only medium, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

22,065 KRW 4,582 KRW Fair Value 31,864 KRW Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range 4,582 KRW – 22,065 KRW · fair‑value band 29,068 KRW – 41,291 KRW · the 15,970 KRW price screens below the 31,864 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

BNK Financial Group Inc., together with its subsidiaries, provides various financial products and services in South Korea and internationally.

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BNK Financial Group Inc., together with its subsidiaries, provides various financial products and services in South Korea and internationally. The company is involved in banking; specialized credit financial; investment brokerage and trading; financial advisory and collective investment; credit investigation and collection agency; start-up investment company advisory; and leasing activities. It also operates as a savings bank; small loan specialty; and provides system software development and supply services. The company was formerly known as BS Financial Group Inc. and changed its name to BNK Financial Group Inc. in April 2015. BNK Financial Group Inc. was founded in 1967 and is headquartered in Busan, South Korea.

Stock analysis

BNK Financial Group Inc (138930) currently trades at 15,970 KRW, while our model-based Fair Value estimate is 31,864 KRW, implying the stock looks roughly 49.9% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of 34,142 KRW per share, and 5 of the 6 models we run sit above the 15,970 KRW price.

Bear case: the Dividend Discount group reads lowest at 15,433 KRW, and 1 of the 6 models stay below the price. Evidence for this calculation is medium.

Scenario range: 29,068 KRW (bear) to 41,291 KRW (bull), the price of 15,970 KRW sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 44/100 (below-average quality), in the Financial Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

BNK Financial Group Inc reported revenue of 4.0T KRW in FY2025 versus 3.5T KRW in FY2021, a compound +3.9%/yr. Reported net income was 815B KRW in FY2025, compounding +0.7%/yr from FY2021.

Key figures

Market cap 5.7T KRW (≈ $4.0B) · P/S ratio 0.99 · Dividend yield 4.8% · Net margin 20.2% · Return on equity 7.5% · Return on assets (EBIT) 1.4% · Operating margin 40.1% · Revenue (TTM) 5.4T KRW.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).

What moves the price

The share trades about 28% below its 52-week high and 20% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −38% fair-value upside, at 100%, 138930 screens cheaper than that median.

Fair Value models

Bear 29,068 KRW Fair Value 31,864 KRW Bull 41,291 KRW
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Residual Income 29,116 KRW 31,168 KRW 35,193 KRW 76
DDM Multi-Stage 9,358 KRW 15,433 KRW 21,292 KRW 66
Gordon GGM 9,358 KRW 20,431 KRW 34,375 KRW 65
All 6 models by family
Dividend Discount
Gordon GGM 9,358 KRW 20,431 KRW 34,375 KRW 65
DDM Multi-Stage 9,358 KRW 15,433 KRW 21,292 KRW 66
Multiples
P/E Multiple 25,606 KRW 34,142 KRW 42,677 KRW 63
P/B Multiple 33,485 KRW 44,647 KRW 55,808 KRW 55
Asset-Based
NCAV (Graham) 17,390 KRW 23,302 KRW 34,780 KRW 54
Economic Profit
Residual Income 29,116 KRW 31,168 KRW 35,193 KRW 76

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Quality Score breakdown

Overall quality 44/100

Of which business quality 38 · Market factors (momentum, volatility) 46

Profitability 29
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 15
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 39
Distance to the 52-week high (market factor)
Net Issuance 99
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 40/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+4.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.5%
Start year 2020 (pandemic). Over 10 years: +1.5% a year
Revenue growth 25 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.7%
What shareholders gained per year (last 5 years), in KRW ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in KRW: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+13.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.8%
Dividend (yield on the price)4.8%
Profit margin 2014 to 2019 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.51% → 61%

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Banks - Regional · 1074 stocks

Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 46 · Bottom 25%
Fair Value upside +100% · Top 25%
Profitability
Return on equity (TTM) 8% · Below median
Return on assets 1% · Bottom 25%
Net margin (TTM) 14% · Bottom 25%
Operating margin (TTM) 26% · Below median
Growth and dividend
Revenue growth 43% · Top 25%
Dividend yield (TTM) 4.8% · Top 25%
Balance sheet
Debt / equity 1.35× · Highest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 12
FUTURE (revenue growth)100 · sector 45
PAST (return on equity)32 · sector 41
HEALTH (low debt)33 · sector 85
DIVIDEND (yield)96 · sector 53

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
DBS Group D05 77.80 SGD 40.48 SGD −48%
China Merchants Bank Co 3968 HK$51.65 HK$64.29 +24%
Intesa Sanpaolo S.p.A ISP €6.73 €4.04 −40%
HDFC Bank Limited HDFCBANK ₹738.60 ₹418.52 −43%
BNP Paribas SA BNP €101.30 €105.99 +5%
UniCredit S.p.A UCG €83.28 €77.62 −7%
Mizuho Financial Group MFG $10.87 $6.75 −38%
ICICI Bank Limited ICICIBANK ₹1,340 ₹636.31 −53%
The PNC Financial Services Group PNC $227.96 $159.52 −30%
Oversea-Chinese Banking Corporation O39 32.14 SGD 19.80 SGD −38%

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BNK Financial Group Inc · Fair Value
31,864 KRW +50%Fair Value
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Cite: Fair Value Calculator (2026). "BNK Financial Group Inc Fair Value". https://www.fairvalue-calculator.com/stock/138930

Frequently asked questions

Is BNK Financial Group Inc (138930) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 31,864 KRW versus a price of 15,970 KRW, about +100% upside (undervalued).
What is the fair value of 138930?
Our model-based fair value for BNK Financial Group Inc is 31,864 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 15,970 KRW.
What is the quality score of 138930?
BNK Financial Group Inc has a Quality Score of 44/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for BNK Financial Group Inc (138930)?
Our model-based price target is the fair value of 31,864 KRW (as of Sep 24, 2026) from 6 valuation models. Cautious scenario 29,068 KRW, optimistic scenario 41,291 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the BNK Financial Group Inc stock forecast for 2026?
Our models put fair value at 31,864 KRW, about +100% upside versus a price of 15,970 KRW (undervalued). Cautious scenario 29,068 KRW, optimistic scenario 41,291 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of BNK Financial Group Inc (138930)?
BNK Financial Group Inc reported trailing-twelve-month revenue of about 5.4T KRW (latest available figure, as of Sep 24, 2026).
Does BNK Financial Group Inc pay a dividend?
BNK Financial Group Inc currently shows a dividend yield of about 4.79% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of BNK Financial Group Inc (138930)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For BNK Financial Group Inc it is 31,864 KRW per share (as of Sep 24, 2026), against a price of 15,970 KRW. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is BNK Financial Group Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 138930 trades below its calculated fair value: price 15,970 KRW, fair value 31,864 KRW, a gap of about +100% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 138930?
No. The price is what the market pays today (15,970 KRW); the fair value is what the company's own numbers justify (31,864 KRW). For BNK Financial Group Inc the two are 15,894 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is BNK Financial Group Inc worth?
The market values BNK Financial Group Inc at about 5.7T KRW (market capitalisation, as of Sep 24, 2026). Per share that is 15,970 KRW; our models calculate a fair value of 31,864 KRW per share.
What do the bullish and bearish scenarios say about 138930?
Our models span a range for BNK Financial Group Inc: cautious scenario 29,068 KRW, base 31,864 KRW, optimistic 41,291 KRW per share (as of Sep 24, 2026, price 15,970 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of BNK Financial Group Inc (138930)?
Balance-sheet figures for BNK Financial Group Inc (as of Sep 24, 2026): return on equity 7.9%, debt of 1.35 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is 138930 from its 52-week high?
BNK Financial Group Inc trades at 15,970 KRW, about 28% below its 52-week high of 22,065 KRW and 20% above the low of 13,350 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 31,864 KRW is for.
Which stocks are comparable to BNK Financial Group Inc?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, Intesa Sanpaolo S.p.A, HDFC Bank Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is BNK Financial Group Inc stock attractive at the current price?
The data as of Sep 24, 2026: price 15,970 KRW, calculated fair value 31,864 KRW (+100%), Quality Score 44/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 138930 calculated?
We run BNK Financial Group Inc through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 31,864 KRW, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. BNK Financial Group Inc currently trades 100 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of BNK Financial Group Inc (138930)?
The closing price on Sep 23, 2026 was 15,970 KRW. Our model-based fair value is 31,864 KRW, about +100% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with BNK Financial Group Inc right now?
The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (29,068 KRW). The market is more pessimistic than our downside scenario. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of BNK Financial Group Inc

How large is the market capitalisation of BNK Financial Group Inc (138930)?
The market capitalisation of BNK Financial Group Inc is 5.7T KRW (≈ $4.0B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of BNK Financial Group Inc (138930)?
The price-to-sales ratio of BNK Financial Group Inc is 0.99 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of BNK Financial Group Inc (138930)?
The dividend yield of BNK Financial Group Inc is 4.8%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of BNK Financial Group Inc (138930)?
The net margin of BNK Financial Group Inc is 20.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of BNK Financial Group Inc (138930)?
The return on equity (ROE) of BNK Financial Group Inc is 7.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of BNK Financial Group Inc (138930)?
On an EBIT basis the return on assets of BNK Financial Group Inc is 1.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of BNK Financial Group Inc (138930)?
The operating margin of BNK Financial Group Inc is 40.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at BNK Financial Group Inc (138930)?
Revenue at BNK Financial Group Inc is growing +21.3% versus a year earlier (3y avg +3.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at BNK Financial Group Inc (138930)?
Earnings per share at BNK Financial Group Inc are growing +30.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does BNK Financial Group Inc (138930) generate?
The free cash flow of BNK Financial Group Inc is −2.2T KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does BNK Financial Group Inc (138930) carry?
The net debt of BNK Financial Group Inc is 17.2T KRW (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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