Shinhan Financial Group Co., Ltd. (SHG) Financial Ratios
24 years of historical data (2002–2025) · Financial Services · Banks - Regional
EV/EBITDA
↑
22.51
↑+48% vs avg
5yr avg: 15.18
30Y Low4.1·High90.8
P/FCF
↑
8.02
↑+259004% vs avg
5yr avg: 0.00
30Y Low0.0·High0.2
P/B Ratio
↑
0.89
↑+271268% vs avg
5yr avg: 0.00
30Y Low0.0·High0.0
ROE
↑
8.8%
↓+5% vs avg
5yr avg: 8.4%
30Y Low0%·High24%
Debt/EBITDA
↓
18.99
↓-3% vs avg
5yr avg: 19.58
30Y Low5.6·High25.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
SHG Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Shinhan Financial Group Co., Ltd. trades at 9.6x earnings, 235337% above its 5-year average of 0.0x, sitting at the 100th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.4x, the stock trades at a discount of 28%. On a free-cash-flow basis, the stock trades at 8.0x P/FCF, 259004% above the 5-year average of 0.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $34.1B | $26.6B | $16.6B | $16.0B | $14.2B | $16.5B | $14.9B | $18.2B | $16.8B | $22.0B | $17.8B |
| Enterprise Value | $125.6B | $133.09T | $108.60T | $108.04T | $97.66T | $105.65T | $82.52T | $84.66T | $75.23T | $86.77T | $52.74T |
| P/E Ratio → | 9.61 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 |
| P/S Ratio | 1.25 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| P/B Ratio | 0.89 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| P/FCF | 8.02 | 0.00 | 0.00 | — | 0.00 | 0.00 | — | 0.00 | — | 0.03 | 0.01 |
| P/OCF | 7.69 | 0.00 | 0.00 | 0.03 | 0.00 | 0.00 | — | 0.00 | — | 0.02 | 0.00 |
P/E links to full P/E history page with 30-year chart
SHG EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Shinhan Financial Group Co., Ltd.'s enterprise value stands at 22.5x EBITDA, 48% above its 5-year average of 15.2x. The Financial Services sector median is 11.4x, placing the stock at a 97% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.35 | 3.07 | 3.20 | 3.98 | 4.10 | 3.21 | 3.20 | 4.73 | 5.94 | 3.91 |
| EV / EBITDA | 22.51 | 16.39 | 14.86 | 15.11 | 13.26 | 16.29 | 14.94 | 15.15 | 7.73 | 18.23 | 7.12 |
| EV / EBIT | 25.67 | 20.35 | 18.01 | 18.11 | 15.34 | 18.92 | 17.36 | 17.24 | — | — | — |
| EV / FCF | — | 21.48 | 28.23 | — | 14.69 | 10.37 | — | 12.85 | — | 114.94 | 15.26 |
SHG Profitability
Margins and return-on-capital ratios measuring operating efficiency
Shinhan Financial Group Co., Ltd. earns an operating margin of 17.9%, below the Financial Services sector average of 21.2%. ROE of 8.8% is modest, trailing the sector median of 9.4%. ROIC of 2.5% represents below-average returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 53.3% | 53.3% | 44.0% | 44.0% | 56.1% | 80.9% | 75.7% | 73.8% | 100.0% | 100.0% | 100.0% |
| Operating Margin | 17.9% | 17.9% | 17.0% | 17.6% | 25.9% | 21.7% | 18.5% | 18.5% | 59.3% | 30.8% | 53.0% |
| Net Profit Margin | 12.7% | 12.7% | 12.6% | 12.9% | 19.0% | 15.6% | 13.3% | 12.8% | 19.9% | 20.0% | 20.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.8% | 8.8% | 7.7% | 8.0% | 9.0% | 8.3% | 7.7% | 8.7% | 9.0% | 8.9% | 8.7% |
| ROA | 0.7% | 0.7% | 0.6% | 0.6% | 0.7% | 0.6% | 0.6% | 0.7% | 0.7% | 0.7% | 0.7% |
| ROIC | 2.5% | 2.5% | 2.2% | 2.3% | 2.6% | 2.4% | 2.2% | 2.6% | 5.1% | 2.7% | 5.3% |
| ROCE | 1.4% | 1.4% | 2.3% | 2.4% | 2.6% | 2.3% | 2.1% | 2.6% | 6.5% | 3.4% | 5.3% |
SHG Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Shinhan Financial Group Co., Ltd. carries a Debt/EBITDA ratio of 19.0x, which is highly leveraged (360% above the sector average of 4.1x). Net debt stands at $133.1T ($154.2T total debt minus $21.1T cash). Interest coverage of just 0.4x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.77 | 2.77 | 2.55 | 2.55 | 2.41 | 2.68 | 2.53 | 2.72 | 2.56 | 3.28 | 2.30 |
| Debt / EBITDA | 18.99 | 18.99 | 20.56 | 20.11 | 17.47 | 20.76 | 21.20 | 20.44 | 9.63 | 23.23 | 9.86 |
| Net Debt / Equity | — | 2.39 | 1.85 | 1.92 | 1.83 | 2.10 | 1.78 | 2.02 | 2.05 | 2.57 | 1.66 |
| Net Debt / EBITDA | 16.39 | 16.39 | 14.86 | 15.11 | 13.26 | 16.29 | 14.94 | 15.15 | 7.73 | 18.22 | 7.11 |
| Debt / FCF | — | 21.48 | 28.22 | — | 14.69 | 10.37 | — | 12.84 | — | 114.91 | 15.25 |
| Interest Coverage | 0.40 | 0.40 | 0.34 | 0.36 | 0.67 | 1.41 | 0.97 | 0.82 | -0.06 | -0.06 | -0.06 |
SHG Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.36x is below 1.0, meaning current liabilities exceed current assets — though the company's $21.1T cash position helps mitigate short-term liquidity concerns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.36 | 0.36 | 0.33 | 0.34 | 0.31 | 0.30 | 0.29 | 0.31 | 0.23 | 0.25 | 0.25 |
| Quick Ratio | 0.36 | 0.36 | 0.33 | 0.34 | 0.31 | 0.30 | 0.29 | 0.31 | 0.23 | 0.25 | 0.25 |
| Cash Ratio | 0.27 | 0.27 | 0.09 | 0.08 | 0.07 | 0.07 | 0.09 | 0.09 | 0.06 | 0.08 | 0.08 |
| Asset Turnover | — | 0.05 | 0.05 | 0.05 | 0.04 | 0.04 | 0.04 | 0.05 | 0.03 | 0.03 | 0.03 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
SHG Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Shinhan Financial Group Co., Ltd. returns 5.2% to shareholders annually — split between a 2.6% dividend yield and 2.5% buyback yield. The payout ratio of 26.0% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 10.4% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.6% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Payout Ratio | 26.0% | 26.0% | 28.5% | 33.5% | 33.0% | 30.3% | 28.4% | 24.4% | 22.6% | 24.2% | 24.1% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 10.4% | 19353.0% | 25672.9% | 26145.5% | 30426.1% | 23643.0% | 22358.8% | 18387.6% | 18779.1% | 13185.3% | 15239.1% |
| FCF Yield | 12.5% | 23268.5% | 23115.3% | — | 46793.4% | 61729.0% | — | 36261.9% | — | 3430.9% | 19363.8% |
| Buyback Yield | 2.5% | 100.0% | 100.0% | 100.0% | 100.0% | 0.5% | 100.0% | 100.0% | 100.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 5.2% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Shares Outstanding | — | $497M | $506M | $519M | $509M | $534M | $500M | $477M | $474M | $474M | $474M |
Peer Comparison
Compare SHG with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 SHGYou | $34B | 9.6 | 22.5 | 8.0 | 53.3% | 17.9% | 8.8% | 2.5% | 19.0 |
 KB | $39B | 10.6 | 6.7 | — | 49.1% | 16.8% | 9.7% | 4.9% | — |
 WF | $17B | 7.7 | 17.8 | 3.6 | 48.8% | 14.7% | 9.4% | 2.5% | 18.1 |
 HDB | $196B | 17.6 | 24.7 | 16.5 | 52.2% | 20.5% | 8.2% | 4.0% | 8.1 |
 IBN | $96B | 17.9 | 11.6 | 11.8 | 68.1% | 24.8% | 17.0% | 10.9% | 2.7 |
 MFG | $109B | 19.7 | 3.9 | — | 41.8% | 13.8% | 8.5% | 1.3% | 43.6 |
 SMFG | $139B | 11.4 | 2.3 | 4.7 | 48.9% | 17.6% | 7.9% | 2.1% | 29.4 |
 BAC | $408B | 14.0 | 14.8 | 32.3 | 55.4% | 18.5% | 10.2% | 3.2% | 10.0 |
 C | $223B | 21.4 | 25.1 | — | 41.7% | 10.0% | 6.1% | 1.6% | 27.7 |
 JPM | $849B | 15.9 | 13.6 | — | 58.6% | 27.7% | 17.4% | 5.4% | 9.0 |
 WBS | $12B | 12.4 | 10.9 | 11.8 | 60.8% | 28.5% | 10.8% | 7.2% | 3.4 |
| Financial Services Median | — | 13.4 | 11.4 | 10.6 | 63.4% | 21.2% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Full SHG Stock Analysis
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Start ComparisonSHG — Frequently Asked Questions
Quick answers to the most common questions about buying SHG stock.
What is Shinhan Financial Group Co., Ltd.'s P/E ratio?
Shinhan Financial Group Co., Ltd.'s current P/E ratio is 9.6x. The historical average is 0.0x. This places it at the 100th percentile of its historical range.
What is Shinhan Financial Group Co., Ltd.'s EV/EBITDA?
Shinhan Financial Group Co., Ltd.'s current EV/EBITDA is 22.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.0x.
What is Shinhan Financial Group Co., Ltd.'s ROE?
Shinhan Financial Group Co., Ltd.'s return on equity (ROE) is 8.8%. The historical average is 9.5%.
Is SHG stock overvalued?
Based on historical data, Shinhan Financial Group Co., Ltd. is trading at a P/E of 9.6x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Shinhan Financial Group Co., Ltd.'s dividend yield?
Shinhan Financial Group Co., Ltd.'s current dividend yield is 2.65% with a payout ratio of 26.0%.
What are Shinhan Financial Group Co., Ltd.'s profit margins?
Shinhan Financial Group Co., Ltd. has 53.3% gross margin and 17.9% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Shinhan Financial Group Co., Ltd. have?
Shinhan Financial Group Co., Ltd.'s Debt/EBITDA ratio is 19.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.