Woori Financial Group Inc WF

FinancialsBanking ServicesKorea; Republic (S. Korea)

Last close 66.29 USD on Nov 2, 2026, +16.6% year to date

Quant rating

Quant rating C Rank 167 of 304 in Financials

Growth D 230 of 304
Valuation A 6 of 304
Quality D 243 of 304
Revisions C 182 of 304
Momentum C 139 of 304

Wall Street consensus Strong Buy (1.00)Average target 90.00 USD +35.8%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 16.8B
Enterprise value: 66.4B
52-week range: 52.81 – 84.70
3-year range: 27.74 – 84.70
Dividend yield: 4.27%
Beta (5 years): 1.03
Shares outstanding: 737M
Next earnings: Feb 2, 2027

About the company

Woori Financial Group Inc is a holding company primarily engaged in the banking operation business. The Company operates banking, insurance, credit-specialized financial services, financial investment, savings bank operations and other business. The Banking segment offers banking business such as lending and deposit taking. The Insurance segment operates life insurance business. The Credit-Specialized Financial Service segment provides credit cards, cash advances, card loans, automobile finance, corporate finance and retail finance services. The Financial Investment segment is engaged in the trading, brokerage and underwriting of securities, real estate trust services, asset management services, as well as non-performing loan investment and management. The Savings Bank segment offers lending and deposit taking services. The Other Business segment operates debt collection, fund services, information technology services, as well as management research and consulting activities.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	14,709	14,906	15,947	11,622	8,329	–
Revenue growth	−1.3%	−6.5%	37.2%	39.5%	−5.2%	10.9%
EPS (basic, normalized)	2.41	2.66	2.47	3.28	2.81	–
EPS growth	−9.5%	7.8%	−24.8%	17.0%	77.0%	8.7%
Gross margin	–	–	–	–	–	–
Net margin	14.0%	13.3%	11.5%	20.8%	25.5%	17.0%
ROE	–	9.2%	8.3%	12.0%	–	9.8%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Tier 1 risk-adjusted capital ratio	–
Long-term debt (mil)	56,423
Net debt (mil)	–
Total equity (mil)	25,130
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	14,709	−1.3%	4.5x	–	–	–	8.56	−1.6%	7.7x
2026	–	–	–	–	–	–	9.80	+14.5%	6.8x
2027	–	–	–	–	–	–	11.59	+18.3%	5.7x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	–	–	–	–	9.80	−3.3%	+4.8%	+7.7%
2027	–	–	–	–	11.59	−2.5%	+5.7%	+9.4%
2028	–	–	–	–	–	–	–	–

Earnings surprises EPS beat in 1 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	–	–	–	–	–	–	–	–	–	–
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	2.38	2.64	2.58	1.13	1.71	2.63	3.56	0.83	1.59	2.66
EPS mean	2.13	2.18	2.29	1.12	2.02	2.72	–	1.05	–	2.55
Surprise	+11.9%	+21.1%	+12.7%	+0.8%	−15.3%	−3.4%	–	−20.8%	–	+4.2%

Peer comparison Banking Services

Peers in the same industry group, by market capitalization
Company	Market cap	Tier 1 ratio	Net margin	Deposits/loans	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
WF Woori Financial Group Inc	16.8B	–	14.0%	0.97x	6.8x	5.7x	–	–
UNCRY Unicredit, SpA	125.2B	–	39.8%	1.01x	9.9x	8.6x	–	–
HDB HDFC Bank Limited	113.9B	–	21.0%	1.00x	28.0x	24.9x	1.8x	1.6x
BMO Bank of Montreal	120.4B	–	13.0%	1.44x	16.2x	14.4x	2.1x	2.0x
BNS The Bank of Nova Scotia	114.8B	–	12.6%	1.25x	15.2x	13.6x	2.0x	1.9x
IBN ICICI Bank Limited	105.0B	–	27.8%	1.11x	18.2x	15.0x	2.6x	2.3x
Mean		–	21.4%	1.13x	15.7x	13.7x	2.1x	1.9x
Median		–	17.5%	1.06x	15.7x	14.0x	2.1x	2.0x

Technical analysis

1M−11.9%
3M−3.2%
1Y+28.8%
3Y+185.5%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Woori Financial Group Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Interest income	14,709	14,906	15,947	11,622	8,329	8,782
Total interest expense	8,440	8,889	9,193	4,725	2,449	3,251
Net interest income	6,269	6,017	6,754	6,897	5,880	5,531
Loan loss provision	1,460	1,162	1,464	702	469	731
Net interest income after loan loss provision	4,809	4,855	5,290	6,195	5,411	4,800
Non-interest income	6,665	4,652	4,633	4,574	3,639	3,331
Non-interest expense	−8,635	−6,648	−7,206	−7,211	−5,894	−6,286
Net income before taxes	2,839	2,859	2,717	3,557	3,156	1,845
Provision for taxes	599	712	688	921	793	448
Minority interest & equity in affiliates	−71.6	−57.9	−93.2	−145	−185	−192
Other	0	0	0	0	0	0
Net income before extraordinary items	2,169	2,090	1,936	2,492	2,178	1,205
Extraordinary items	–	–	–	–	–	–
Net income	2,169	2,090	1,936	2,492	2,178	1,205
Basic weighted average shares (mil)	734	741	735	728	724	722
Diluted weighted average shares (mil)	734	741	735	728	724	722
Basic EPS excluding extraordinary items	2.81	2.68	2.50	3.32	2.93	1.61
Basic EPS, normalized	2.41	2.66	2.47	3.28	2.81	1.59

Balance sheet in millions of USD, fiscal years

Balance sheet, Woori Financial Group Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & due from banks	26,630	18,356	23,508	27,067	6,235	8,705
Other earning assets	105,410	67,414	67,487	70,215	67,841	67,200
Net loans	266,647	254,282	274,429	267,320	274,813	269,854
Property, plant & equipment	3,318	2,588	2,819	2,800	3,000	3,388
Goodwill	269	327	344	315	291	308
Intangibles	465	412	426	358	370	422
Long-term investments	1,444	1,184	1,387	1,035	1,124	916
Other long-term assets	418	198	273	351	66.3	103
Other assets	12,930	11,252	14,064	11,589	22,689	17,100
Total assets	417,531	356,013	384,738	381,051	376,430	367,996
Liabilities
Accounts payable	14,296	10,662	9,628	9,086	12,172	4,609
Payable/accrued	–	–	–	–	–	–
Accrued expenses	3,093	3,179	3,352	2,553	1,743	1,890
Total deposits	258,863	245,683	273,227	268,399	265,115	266,333
Other bearing liabilities	–	–	–	–	–	–
Short-term borrowings	8,594	4,698	4,915	5,073	3,393	3,440
Current portion of long-term debt	–	–	–	–	–	–
Long-term debt	56,657	51,405	54,325	55,695	57,810	53,067
Minority interest	1,279	1,218	1,337	2,273	2,532	3,386
Other liabilities	49,746	16,079	13,489	15,163	11,912	14,014
Total liabilities	392,528	332,925	360,274	358,240	354,677	346,738
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	2,640	2,575	2,938	2,887	3,064	3,330
Additional paid-in capital	648	633	723	541	574	577
Retained earnings (accumulated deficit)	19,986	18,250	19,304	18,836	18,008	17,767
Treasury stock	−24.7	−24.1	−30.4	−3.0	−3.2	–
Other equity	1,754	1,656	1,531	550	110	−417
Total equity	25,003	23,089	24,465	22,810	21,753	21,258
Total liabilities & shareholders' equity	417,531	356,013	384,738	381,051	376,430	367,996

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Woori Financial Group Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	2,241	2,148	2,029	2,636	2,363	1,397
Depreciation, depletion & amortization	868	788	767	737	667	494
Deferred taxes	–	–	–	–	–	–
Non-cash items	−6,272	−4,748	−5,945	−6,109	−5,278	−4,769
Changes in working capital	12,634	−2,338	4,401	17,506	5,447	6,203
Cash from operations	9,471	−4,150	1,253	14,770	3,199	3,325
Investing activities
Capital expenditures	−352	−279	−304	−276	−217	−244
Other investing cash flows	−6,508	256	−1,438	−5,251	−8,762	−1,099
Cash from investing	−6,859	−23.2	−1,741	−5,527	−8,979	−1,343
Financing activities
Financing cash flow items	−679	−60.1	−534	290	−394	120
Cash dividends paid	−644	−595	−756	−519	−310	−466
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	6,658	1,498	−920	1,752	8,344	2,529
Cash from financing	5,335	843	−2,210	1,523	7,640	2,183
Foreign exchange effects	−159	1,112	−131	24.5	893	−847
Net change in cash	7,788	−2,218	−2,830	10,791	2,752	3,318
Free cash flow	9,119	−4,429	949	14,495	2,981	3,081

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.