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Woori Finance Holdings Co
(NYSE:WF)
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Rating:71Outperform
Price Target:
$69.00
â–²(6.04% Upside)
Action:Upgraded
Date:07/24/26
WF’s score is driven primarily by attractive valuation (low P/E and strong dividend yield) and a constructive earnings outlook with improving capital and shareholder returns. These positives are tempered by weaker financial fundamentals—particularly the sharp TTM revenue decline and elevated leverage—and only neutral technical momentum.
Positive Factors
Non‑bank Diversification
A more than threefold rise in non‑bank contribution is a structural shift in revenue mix. By enlarging fee, insurance and securities income via capital injections and acquisitions, the group reduces reliance on net interest income, smoothing earnings over rate cycles and supporting longer‑term ROE improvement.
Negative Factors
Elevated Leverage
A debt-to-equity ratio near 2.7x raises structural balance‑sheet risk for a regional bank, constraining flexibility to absorb loan losses or fund growth without costly market access. Persistently high leverage magnifies interest‑rate and credit shocks and limits capacity for aggressive capital returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Non‑bank Diversification
A more than threefold rise in non‑bank contribution is a structural shift in revenue mix. By enlarging fee, insurance and securities income via capital injections and acquisitions, the group reduces reliance on net interest income, smoothing earnings over rate cycles and supporting longer‑term ROE improvement.
Read all positive factors
Woori Finance Holdings Co (WF) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$16.50B
Dividend Yield4.1%
Average Volume (3M)190.49K
Price to Earnings (P/E)7.8
Beta (1Y)0.89
Revenue Growth30.88%
EPS Growth10.24%
CountryUS
Employees27,249
SectorFinancial
Sector Strength70
IndustryBanks - Diversified
Share Statistics
EPS (TTM)13062.54
Shares Outstanding242,678,570
10 Day Avg. Volume164,600
30 Day Avg. Volume190,493
Financial Highlights & Ratios
PEG Ratio0.79
Price to Book (P/B)0.66
Price to Sales (P/S)5.20
P/FCF Ratio1.63
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)8.72
Revenue Forecast (FY)$7.83B
Woori Finance Holdings Co Business Overview & Revenue Model
Company Description
Woori Financial Group Inc., together with its subsidiaries, operates as a bank which provides various financial services in Korea, China, the United States, the United Kingdom, Japan, and internationally. The company operates through Banking Insur...
How the Company Makes Money
WF primarily earns money through its financial subsidiaries, with revenue generally driven by (1) net interest income—interest earned on loans and other interest-earning assets minus interest paid on deposits and other funding; (2) fee and commiss...
Woori Finance Holdings Co Earnings Call Summary
Earnings Call Date:Jul 24, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 22, 2026
Earnings Call Sentiment Positive
The call conveyed a predominantly positive operating picture: strong Q2 earnings and record H1 revenue, meaningful fee income and non‑bank expansion, improving capital and robust shareholder return actions (buyback and non‑taxable dividend). Operational improvements in cost control and lower sequential credit costs support the momentum. However, management acknowledged several headwinds—one‑off insurance impacts, market valuation losses, isolated NPLs from Tongyang exposure, funding cost sensitivity and structural costs—along with external macro/geopolitical risks. Overall, the positives (earnings beat, diversification, capital actions, and tangible progress on non‑bank contributions) outweigh the manageable challenges, leading to a constructive outlook with continued caution on macro and one‑off items.Positive Updates
Strong Quarterly and Half‑Year Net Income Beat
Q2 2026 net income of KRW 1.0046 trillion, up 66% Q‑o‑Q and regaining the KRW 1 trillion quarterly level; H1 2026 YTD net income KRW 1.609 trillion, up 3.7% Y‑o‑Y.
Negative Updates
One‑Off Insurance Impacts and Market Valuation Losses
Earnings were affected by one‑off items including changes in actuarial assumptions at insurance subsidiaries and trading/valuation losses driven by high exchange rates (>KRW 1,500) and elevated market interest rates.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Quarterly and Half‑Year Net Income Beat
Q2 2026 net income of KRW 1.0046 trillion, up 66% Q‑o‑Q and regaining the KRW 1 trillion quarterly level; H1 2026 YTD net income KRW 1.609 trillion, up 3.7% Y‑o‑Y.
Read all positive updates
Company Guidance
Woori’s guidance emphasizes sustainable, higher-quality earnings and capital returns: management expects to sustain quarterly net income at or above KRW 1.0 trillion (Q2 was KRW 1.0046tn, +66% Q‑o‑Q) and H1 YTD net income of KRW 1.609tn (+3.7% Y‑o‑Y), target recurring credit cost reduction of 15% and a credit cost ratio in the low‑40 bps range (recurring CCR ~39 bps), and a medium‑to‑long‑term cost‑to‑income (CI) target in the low‑40% range (H1 SG&A KRW 2,632.8bn; CI 42.8%; Q2 SG&A KRW 1.210tn, -15% Q‑o‑Q). They plan to grow productive finance (added KRW 10tn bringing a KRW 90tn 5‑year future co‑growth commitment, including KRW 9.4tn for productive and KRW 0.6tn for inclusive finance), expand non‑bank earnings (non‑bank contribution to group net income rose from 6.9% to 22.3% Y‑o‑Y), and lift fee income (H1 fees KRW 1,278.8bn; Q2 fees KRW 702bn), while preserving capital (preliminary CET1 13.71%, +11 bps q/q; capital up ~80 bps YTD) and returning capital (2026 buybacks/cancellations KRW 350bn total, plus Q2 cash dividend KRW 220 per share, non‑taxable). They expect net operating revenue to remain strong (H1 KRW 5,722.7bn, +6.0% Y‑o‑Y; Q2 KRW 2,965bn, +7.5% Q‑o‑Q), aim to defend/improve NIM (Q2 NIM 1.51%; Y‑o‑Y +7 bps; firm’s sensitivity: ~KRW 160bn NII / ~4 bps NIM per 25 bps market rate rise), keep loan growth selective (bank loans KRW 344tn, +1.9% q/q; corporate loans +2.8% q/q; ~85% prime corporates) and maintain loss‑absorbing reserves (~1.5% of loans), all while pursuing further buybacks/cancellations and non‑bank integration (Tongyang Life) to steadily raise sustainable ROE and push toward more than KRW 1tn recurring quarterly earnings.Woori Finance Holdings Co Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
56
Neutral
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.22T | 4.12T | 25.75T | 23.70T | 17.39T | 12.51T |
| Gross Profit | 5.50T | 4.12T | 10.91T | 9.93T | 10.55T | 9.07T |
| EBITDA | 4.89T | 5.37T | 5.39T | 4.51T | 5.48T | 4.48T |
| Net Income | 3.29T | 3.24T | 3.09T | 2.51T | 3.19T | 2.54T |
Balance Sheet | ||||||
| Total Assets | 10.00T> | 10.00T> | 10.00T> | 10.00T> | 10.00T> | 10.00T> |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 46.73T | 71.08T | 68.45T | 67.30T | 59.73T |
| Total Debt | 99.19T | 94.52T | 83.82T | 76.36T | 73.39T | 69.96T |
| Total Liabilities | 10.00T> | 10.00T> | 10.00T> | 10.00T> | 10.00T> | 10.00T> |
| Stockholders Equity | 38.88T | 32.31T | 34.10T | 31.67T | 28.76T | 25.80T |
Cash Flow | ||||||
| Free Cash Flow | 29.35T | 13.14T | -6.54T | 1.23T | 18.28T | 3.54T |
| Operating Cash Flow | 29.71T | 13.64T | -6.13T | 1.62T | 18.62T | 3.80T |
| Investing Cash Flow | -22.39T | -9.88T | -34.30B | -2.25T | -6.97T | -10.67T |
| Financing Cash Flow | -4.70T | 7.69T | 1.25T | -2.86T | 1.92T | 9.08T |
Woori Finance Holdings Co Technical Analysis
Positive
65.07
Price Trends
61.94
Positive
64.78
Positive
62.95
Positive
Market Momentum
0.62
Negative
60.16
Neutral
42.14
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WF, the sentiment is Positive. The current price of 65.07 is above the 20-day moving average (MA) of 64.00, above the 50-day MA of 61.94, and above the 200-day MA of 62.95, indicating a bullish trend. The MACD of 0.62 indicates Negative momentum. The RSI at 60.16 is Neutral, neither overbought nor oversold. The STOCH value of 42.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for WF.
Woori Finance Holdings Co Risk Analysis
Woori Finance Holdings Co disclosed 46 risk factors in its most recent earnings report. Woori Finance Holdings Co reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
The dividends that we receive from our subsidiaries may be affected by potential restrictions on their ability to pay such dividends, as well as their financial conditions and operating results. Q4, 2023
2.
We may suffer customer attrition or our net interest margin may decrease as a result of government regulations or our competition strategy. Q4, 2023
3.
We may not be able to successfully execute our overseas expansion strategy. Q4, 2023
Woori Finance Holdings Co Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $24.13B | 9.98 | 17.47% | 2.97% | -1.31% | -42.23% | |
71 Outperform | $16.50B | 7.77 | 9.60% | 4.34% | 30.88% | 10.24% | |
71 Outperform | $31.99B | 9.03 | 9.41% | 2.62% | 35.45% | 15.25% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | $16.35B | 20.77 | 20.90% | 4.43% | -3.09% | 2.72% | |
62 Neutral | $18.63B | 33.67 | 11.11% | 5.10% | 17.17% | -1.33% | |
61 Neutral | $21.37B | 17.28 | 20.11% | 5.37% | -7.31% | -7.03% |
* Financial Sector Average
WF
Woori Finance Holdings Co
68.93
17.50
34.03%
BCH
Banco De Chile
41.35
14.78
55.64%
BSBR
Banco Santander Brasil
5.67
1.21
27.27%
BSAC
Banco Santander Chile
34.61
12.29
55.08%
CIB
Grupo Cibest
92.52
49.89
117.00%
SHG
Shinhan Financial Group Co
69.93
22.66
47.94%
Woori Finance Holdings Co Corporate Events
Woori Financial Group Board Clears Final Step in Tongyang Life Share Exchange
Jul 24, 2026
On April 24, 2026, Woori Financial Group’s board approved a share exchange agreement with TONGYANG Life Insurance Co., Ltd. to make the insurer a wholly owned subsidiary, advancing the group’s strategy of deepening its insurance footpr...
Woori Financial Group Posts Strong Q2 2026 Profit Rebound Despite Revenue Decline
Jul 24, 2026
Woori Financial Group reported preliminary consolidated results for the quarter ended June 30, 2026, showing revenue of KRW 13.17 trillion, down 13.9% from the first quarter and 3.0% year-on-year, but with operating income rising 62.8% quarter-on-...
Woori Financial Group Launches KRW 150 Billion Treasury Share Buyback Trust
Jul 24, 2026
On July 24, 2026, Woori Financial Group Inc.’s board of directors approved entering into a trust agreement to repurchase treasury shares, appointing Korea Investment Securities Co. as the brokerage firm. The trust, with a total contract amo...
Woori Financial Group Board Approves KRW 220 Quarterly Dividend on Common Shares
Jul 24, 2026
On July 24, 2026, Woori Financial Group’s board approved a resolution recommending a quarterly cash dividend of KRW 220 per common share, representing a market price-dividend ratio of 0.7%. The total planned distribution is approximately KRW...
Woori Financial Group Board Approves KRW 150 Billion Treasury Share Cancellation
Jul 24, 2026
On July 24, 2026, Woori Financial Group’s board resolved to cancel 4,854,368 common shares, representing part of its treasury stock, under Article 343(1) of the Korean Commercial Code. The estimated value of the planned cancellation is KRW 1...
Woori Financial Group Schedules July 24 Conference to Present 2026 First-Half Earnings
Jul 21, 2026
Woori Financial Group Inc., a leading South Korean financial services holding company headquartered in Seoul, operates across retail and corporate banking and other financial businesses. The group serves domestic and international clients and repo...
Woori Financial Group Ends KRW 200 Billion Treasury Share Trust and Moves to Cancel Shares
Jun 10, 2026
On June 10, 2026, Woori Financial Group Inc. announced the termination of a trust agreement originally entered into on February 10, 2026 for the acquisition of treasury shares, following the scheduled expiration of the contract period. The KRW 200...
Woori Financial Group Updates Plan to Cancel Nearly 6 Million Treasury Shares
Jun 10, 2026
On June 10, 2026, Woori Financial Group Inc. reported an update to its earlier disclosure on the planned cancellation of treasury shares, confirming that it will retire 5,986,638 common shares. The estimated value of the shares to be canceled is K...
Woori Financial Group Posts KRW 639 Billion Net Profit for First Quarter 2026
May 15, 2026
Woori Financial Group Inc. reported consolidated first-quarter 2026 results showing operating income of KRW 808 billion and net income of KRW 639 billion, based on Korean IFRS. The group detailed its funding mix, with customer deposits remaining t...
Woori Financial Group Moves to Fully Acquire Tongyang Life via Small-Scale Share Exchange
May 6, 2026
On April 24, 2026, Woori Financial Group’s board approved a small-scale share exchange to acquire all outstanding common shares of Tongyang Life Insurance from minority shareholders, excluding Woori’s existing stake, in return for newl...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.