Shinhan Financial (SHG) Stock Analysis

November 11, 2026

This is a peer-relative look at Shinhan Financial (SHG): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Banks peers, so every number reads in context rather than in isolation.

Company Profile

Shinhan Financial (SHG) trades as an ADR rather than ordinary local shares — read it with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile fields for Shinhan Financial (SHG)
Profile Item	SHG
Name	Shinhan Financial Group Co., Ltd. American Depositary Receipt
Country/Region	South Korea
GICS Sector	Financials
GICS Industry Group	Banks
GICS Industry	Banks
GICS Sub-Industry	Diversified Banks
Market Capitalization	29.40 billion USD
Currency	USD
Exchange	NYSE
Listing Date	September 17, 2003
Security Type	ADR

Price Performance

Cumulative Growth

SHG

GSPC

Shinhan Financial (SHG) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Shinhan Financial (SHG) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Shinhan Financial (SHG) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Shinhan Financial (SHG) metric values compared with Banks industry-group medians
Metric	Current stock: SHG	Industry group median
Total Return (1Y)	21.12%	30.28%
Total Return (3Y, Annualized)	38.84%	26.57%
Total Return (5Y, Annualized)	19.67%	9.43%

Risk Profile

Drawdown History

SHG

GSPC

Shinhan Financial (SHG) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Shinhan Financial (SHG) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Shinhan Financial (SHG) metric values compared with Banks industry-group medians
Metric	Current stock: SHG	Industry group median
Volatility (1Y, Annualized)	33.83%	24.34%
Beta (5Y)	1.05	0.72
Max Drawdown (5Y)	-35.19%	-43.36%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. SHG is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Shinhan Financial (SHG) metric values compared with Banks industry-group medians
Metric	Current stock: SHG	Industry group median
Sharpe Ratio (1Y)	0.50	1.08
Sortino Ratio (1Y)	0.76	1.61

Profitability

ROE (TTM)

Shinhan Financial (SHG) posts ROE of 8.94%, in the lower peer quartile. Shareholders’ equity is not producing as much profit as it does at most peers, so margins, asset turns, or balance-sheet structure deserve a closer look.

SHG

Banks industry group

8.94%

Group distribution

Max: 19.84%
Q3: 13.67%
Median: 11.49%
Q1: 9.50%
SHG: 8.94%
Min: 3.64%

Largest peers

JPM: 18.01%
RY: 16.21%
HSBC: 14.22%
WFC: 12.91%
BAC: 10.73%
MUFG: 9.46%
SHG: 8.94%

Where Shinhan Financial (SHG) stands on ROE within its Banks peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

Shinhan Financial (SHG) keeps 26.15% of revenue as net profit, in the lower peer quartile for net margin. More of each sales dollar is being absorbed by costs, financing, taxes, or other charges than at most peers.

SHG

Banks industry group

26.15%

Group distribution

Max: 47.19%
Q3: 35.25%
Median: 31.21%
Q1: 27.11%
SHG: 26.15%
Min: 14.93%

Largest peers

HSBC: 41.16%
JPM: 34.59%
RY: 33.87%
BAC: 28.06%
WFC: 27.64%
MUFG: 27.45%
SHG: 26.15%

Where Shinhan Financial (SHG) stands on net margin within its Banks peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

operating margin is set aside for Shinhan Financial (SHG) in Banks: the operating-income line is not a clean boundary for this business model, so net margin, ROE, FFO, or industry-specific measures may be more useful.

Profitability Metrics

Shinhan Financial (SHG) metric values compared with Banks industry-group medians
Metric	Current stock: SHG	Industry group median
ROE (TTM)	8.94%	11.49%
ROA (TTM)	0.69%	1.24%
Net Margin (TTM)	26.15%	31.21%
Operating Margin (TTM)	--	--
Gross Margin (TTM)	--	--

Growth

Revenue Growth

Shinhan Financial (SHG) grew revenue 4.66%, in the lower peer quartile. The top line is expanding more slowly than at most peers, which can reflect softer demand, lost share, or weaker pricing.

Shinhan Financial (SHG): Revenue Growth across different time periods, set against Banks industry-group medians.

EPS Growth

Shinhan Financial (SHG) grew earnings per share 16.24%, roughly around the peer group's normal range. Bottom-line momentum looks broadly typical for the industry.

Shinhan Financial (SHG): EPS Growth across different time periods, set against Banks industry-group medians.

Growth Metrics

Shinhan Financial (SHG) metric values compared with Banks industry-group medians
Metric	Current stock: SHG	Industry group median
Revenue Growth (YoY)	4.66%	11.23%
Revenue Growth (3Y CAGR)	6.87%	6.33%
EPS Growth (YoY)	16.24%	16.14%
EPS Growth (3Y CAGR)	2.45%	3.15%

Financial Strength

Current Ratio (MRQ)

current ratio is set aside for Shinhan Financial (SHG) in Banks: these balance sheets are not best read through a current/non-current split, so regulatory, funding, or liquidity-coverage measures usually matter more.

Debt / Equity (MRQ)

debt-to-equity ratio is set aside for Shinhan Financial (SHG) in Banks: leverage is part of the business model itself, so capital adequacy, funding mix, and regulatory measures are usually better risk gauges.

Financial Strength Metrics

Shinhan Financial (SHG) metric values compared with Banks industry-group medians
Metric	Current stock: SHG	Industry group median
Current Ratio (MRQ)	--	--
Debt / Equity (MRQ)	--	--
Net Debt / EBITDA	--	--

Dividends

Dividend Yield (TTM)

Shinhan Financial (SHG) has dividend yield of 4,638.28%, above the entire industry range. That headline income is large, but yields this far above peers often come from a falling share price or an at-risk payout, so dividend safety matters more than the percentage itself.

SHG

Banks industry group

4,638.28%

Group distribution

SHG: 4,638.28%
Max: 5.79%
Q3: 3.18%
Median: 2.39%
Q1: 1.20%
Min: 0.00%

Largest peers

SHG: 4,638.28%
MUFG: 406.81%
RY: 3.23%
BAC: 2.33%
WFC: 2.19%
JPM: 1.82%
HSBC: 0.86%

Where Shinhan Financial (SHG) stands on dividend yield within its Banks peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Shinhan Financial (SHG) has payout ratio of 25.22%, within the industry’s typical payout band. The dividend shares profits with investors while leaving earnings coverage that looks normal for the peer group.

SHG

Banks industry group

25.22%

Group distribution

Max: 70.75%
Q3: 41.28%
Median: 29.26%
SHG: 25.22%
Q1: 18.98%
Min: 0.00%

Largest peers

HSBC: 53.57%
RY: 41.49%
MUFG: 34.74%
BAC: 27.62%
WFC: 26.09%
JPM: 25.80%
SHG: 25.22%

Where Shinhan Financial (SHG) stands on payout ratio within its Banks peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Shinhan Financial (SHG) metric values compared with Banks industry-group medians
Metric	Current stock: SHG	Industry group median
Dividend Yield (TTM)	4,638.28%	2.39%
Dividend Payout Ratio (TTM)	25.22%	29.26%

Valuation

P/E Ratio (TTM)

Shinhan Financial (SHG) trades at P/E ratio of 7.98, in the cheaper earnings-multiple quartile for its industry. Investors are paying less for each dollar of TTM earnings than they usually pay for comparable businesses.

SHG

Banks industry group

7.98

Group distribution

Max: 18.16
Q3: 13.75
Median: 11.81
Q1: 10.64
SHG: 7.98
Min: 6.49

Largest peers

RY: 17.58
JPM: 14.03
MUFG: 13.71
WFC: 11.84
BAC: 11.79
HSBC: 11.38
SHG: 7.98

Where Shinhan Financial (SHG) stands on P/E ratio within its Banks peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

P/S ratio is not assessed for Shinhan Financial (SHG) in Banks: the revenue line is driven by spread economics rather than conventional product or service sales, so book value or earnings usually carry more weight.

P/B Ratio (MRQ)

Shinhan Financial (SHG) trades at 0.66 on P/B ratio, in the lower book-value quartile for its industry. Investors are paying less for the balance-sheet equity than they pay for most peers, with returns on that equity still central to the read.

SHG

Banks industry group

0.66

Group distribution

Max: 2.28
Q3: 1.58
Median: 1.32
Q1: 1.10
SHG: 0.66
Min: 0.59

Largest peers

HSBC: 6.87
RY: 2.92
JPM: 2.53
MUFG: 1.64
WFC: 1.59
BAC: 1.26
SHG: 0.66

Where Shinhan Financial (SHG) stands on P/B ratio within its Banks peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Shinhan Financial (SHG) metric values compared with Banks industry-group medians
Metric	Current stock: SHG	Industry group median
P/E Ratio (TTM)	7.98	11.81
P/S Ratio (TTM)	--	--
P/B Ratio (MRQ)	0.66	1.32
Free Cash Flow Yield (TTM)	--	--