Shinhan Financial Group Co Ltd (SHG) fair value: what the stock is really worth
We calculate from audited financials what Shinhan Financial Group Co Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.
How to read this chart
60‑month range $19.37 – $84.47 · fair‑value band $73.70 – $129.53 · the $84.11 price screens above the $81.83 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 13, 2026.
Shinhan Financial Group Co., Ltd. provides financial products and services in South Korea, Vietnam, and Japan. The company operates in six segments: Banking, Credit card, Securities, Insurance, Credit, and Others.
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Shinhan Financial Group Co., Ltd. provides financial products and services in South Korea, Vietnam, and Japan. The company operates in six segments: Banking, Credit card, Securities, Insurance, Credit, and Others. It offers credit, lending and receiving deposits; credit cards, short-term and long-term card loan services, installment financing, and leases; securities trading, consignment trading, and underwriting; life and non-life insurance business; facility rental and new technology business financing; and real estate trust, investment advisory services, venture business investment, and other businesses. Shinhan Financial Group Co., Ltd. was founded in 1982 and is based in Seoul, South Korea.
Stock analysis
Shinhan Financial Group Co Ltd (SHG) currently trades at $84.11, while our model-based Fair Value estimate is $81.83, implying the stock looks roughly 2.8% fairly valued today.
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Valuation
How firm this estimate is: it rests on 26 models at a data quality of 94/100, which puts the evidence level at medium.
Scenario range: $73.70 (bear) to $129.53 (bull), the price of $84.11 sits inside 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 59/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Shinhan Financial Group Co Ltd reported revenue of $34.7T in FY2025 versus $25.8T in FY2021, a compound +7.7%/yr. Reported net income was $5.0T in FY2025, compounding +5.5%/yr from FY2021.
Key figures
Market cap $41.8B · P/E ratio 12.6 · P/S ratio 1.80 · EPS (TTM) $6.68 · Dividend yield 2.8% · Net margin 14.3% · Return on equity 8.6% · Return on assets (EBIT) 0.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (medium confidence).
What moves the price
The share trades near its 52-week high and 97% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −33% fair-value upside, at −3%, SHG screens cheaper than that median.
Fair Value models
Bear $73.70Fair Value $81.83Bull $129.53
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.
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.71/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−2.0%
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.
+12.2%
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.
+6.2%
Revenue growth 24 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.
+18.2%
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What shareholders gained per year (last 5 years) ⓘ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.
+9.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.0%
Dividend (yield on the price)2.8%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.7% vs 7%, steady
Profit margin 2020 to 2025 ⓘ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.19% → 20%
Compare Shinhan Financial Group Co Ltd with another stock
Price, fair value, quality and upside side by side.
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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 · 1077 stocks
Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score60 · Top 25%
Fair Value upside−46% · Bottom 25%
Profitability
Return on equity (TTM)9% · Below median
Return on assets1% · Below median
Net margin (TTM)32% · Above median
Operating margin (TTM)51% · Top 25%
Growth and dividend
Revenue growth7% · Below median
Dividend yield (TTM)2.8% · Above median
Balance sheet
Debt / equity2.48× · Highest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Shinhan Financial Group Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/SHG
Frequently asked questions
Is Shinhan Financial Group Co Ltd (SHG) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of $81.83 versus a price of $84.11, about −3% upside (fairly valued).
What is the fair value of SHG?
Our model-based fair value for Shinhan Financial Group Co Ltd is $81.83 (as of Sep 13, 2026), built from audited fundamentals. The current price: $84.11.
What is the quality score of SHG?
Shinhan Financial Group Co Ltd has a Quality Score of 59/100. 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 Shinhan Financial Group Co Ltd (SHG)?
Our model-based price target is the fair value of $81.83 (as of Sep 13, 2026) from 6 valuation models. Cautious scenario $73.70, optimistic scenario $129.53. It is a calculation from audited fundamentals, not an analyst target.
What is the Shinhan Financial Group Co Ltd stock forecast for 2026?
Our models put fair value at $81.83, about −3% upside versus a price of $84.11 (fairly valued). Cautious scenario $73.70, optimistic scenario $129.53. The calculation is refreshed regularly with new filings.
What is the revenue of Shinhan Financial Group Co Ltd (SHG)?
Shinhan Financial Group Co Ltd reported trailing-twelve-month revenue of about $16.0T (latest available figure, as of Sep 13, 2026).
Does Shinhan Financial Group Co Ltd pay a dividend?
Shinhan Financial Group Co Ltd currently shows a dividend yield of about 2.83% relative to its recent price (as of Sep 13, 2026).
What is the intrinsic value of Shinhan Financial Group Co Ltd (SHG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shinhan Financial Group Co Ltd it is $81.83 per share (as of Sep 13, 2026), against a price of $84.11. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Shinhan Financial Group Co Ltd stock overvalued or undervalued in 2026?
As of Sep 13, 2026, SHG trades above its calculated fair value: price $84.11, fair value $81.83, a gap of about −3% (fairly valued). 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 SHG?
No. The price is what the market pays today ($84.11); the fair value is what the company's own numbers justify ($81.83). For Shinhan Financial Group Co Ltd the two are $2.28 per share apart. That gap is exactly why we show both numbers side by side.
How much is Shinhan Financial Group Co Ltd worth?
The market values Shinhan Financial Group Co Ltd at about $41.8B (market capitalisation, as of Sep 13, 2026). Per share that is $84.11; our models calculate a fair value of $81.83 per share.
What do the bullish and bearish scenarios say about SHG?
Our models span a range for Shinhan Financial Group Co Ltd: cautious scenario $73.70, base $81.83, optimistic $129.53 per share (as of Sep 13, 2026, price $84.11). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SHG?
Shinhan Financial Group Co Ltd trades at a price-to-earnings ratio of 12.6 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $81.83 is built from several models across several years. Other multiples: PEG 5.1.
What is the PEG ratio of SHG?
The PEG ratio of Shinhan Financial Group Co Ltd is 5.10 (P/E divided by earnings growth, as of Sep 13, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Shinhan Financial Group Co Ltd (SHG)?
Balance-sheet figures for Shinhan Financial Group Co Ltd (as of Sep 13, 2026): return on equity 8.6%, debt of 2.48 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is SHG from its 52-week high?
Shinhan Financial Group Co Ltd trades at $84.11, about 16% below its 52-week high of $72.48 and 97% above the low of $42.69 (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of $81.83 is for.
Which stocks are comparable to Shinhan Financial Group Co Ltd?
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 Shinhan Financial Group Co Ltd stock attractive at the current price?
The data as of Sep 13, 2026: price $84.11, calculated fair value $81.83 (−3%), Quality Score 59/100, 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 SHG calculated?
We run Shinhan Financial Group Co Ltd 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 $81.83, 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 15.6 % above its aggregate fair value. Shinhan Financial Group Co Ltd itself currently trades above fair value. 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 Shinhan Financial Group Co Ltd (SHG)?
The closing price on Sep 14, 2026 was $84.11. Our model-based fair value is $81.83, about −3% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shinhan Financial Group Co Ltd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Shinhan Financial Group Co Ltd (SHG) come from?
Earnings per share at Shinhan Financial Group Co Ltd grew +6.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +10.4 %, EBIT margin −11.9 %, tax rate −1.0 %, residual (interest, one-offs) +10.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Shinhan Financial Group Co Ltd
How large is the market capitalisation of Shinhan Financial Group Co Ltd (SHG)?
The market capitalisation of Shinhan Financial Group Co Ltd is $41.8B. 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 Shinhan Financial Group Co Ltd (SHG)?
The price-to-sales ratio of Shinhan Financial Group Co Ltd is 1.80 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Shinhan Financial Group Co Ltd (SHG)?
Earnings per share at Shinhan Financial Group Co Ltd are $6.68 (price ÷ EPS = P/E 12.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Shinhan Financial Group Co Ltd (SHG)?
The dividend yield of Shinhan Financial Group Co Ltd is 2.8% (payout 35.6%). 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 Shinhan Financial Group Co Ltd (SHG)?
The net margin of Shinhan Financial Group Co Ltd is 14.3% (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 Shinhan Financial Group Co Ltd (SHG)?
The return on equity (ROE) of Shinhan Financial Group Co Ltd is 8.6% (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 Shinhan Financial Group Co Ltd (SHG)?
On an EBIT basis the return on assets of Shinhan Financial Group Co Ltd is 0.9% (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 Shinhan Financial Group Co Ltd (SHG)?
The operating margin of Shinhan Financial Group Co Ltd is 51.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Shinhan Financial Group Co Ltd (SHG)?
Revenue at Shinhan Financial Group Co Ltd is growing +6.6% versus a year earlier (3y avg +12.2%). 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 Shinhan Financial Group Co Ltd (SHG)?
Earnings per share at Shinhan Financial Group Co Ltd are growing +14.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Shinhan Financial Group Co Ltd (SHG) generate?
The free cash flow of Shinhan Financial Group Co Ltd is $9.1T (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 Shinhan Financial Group Co Ltd (SHG) carry?
The net debt of Shinhan Financial Group Co Ltd is $133T (fiscal year 2025, ≈ 14.6 yrs of FCF). 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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Sep 13, 2026