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Hana Financial (086790) Fair Value & Analysis

Financial Services · KR · Market cap 36.7T KRW (≈ $25.7B) · ISIN KR7086790003

What is Hana Financial really worth?

HF Hana Financial 086790 · KO
Price134,300 KRW
Fair Value210,506 KRW
Upside+56.7%
Quality43/100

Below-average quality, trading 36% below our fair value of 210,506 KRW.

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Strengths

Highly profitable · 29.1% net margin

Risks

!Expensive Growth (revenue 5y +7.2 %/yr)
!Moderate debt · negative free cash flow
!Mixed vs. peers (5/10)
!Moderate moat 60/100
!Evidence only medium, so the estimate is less certain
!Weak on balance sheet: 27 out of 100

For context

·3.41% dividend yield
Evidence: Medium Range 157,879 KRW – 263,132 KRW

Fair value as of: Aug 13, 2026

From 6 valuation models · updated 22 days ago

Fair value updated Aug 13, 2026, revised from 193,969 KRW to 210,506 KRW (+8.5%) since Jul 16, 2026. Share price +5.8% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (157,879 KRW). The market is more pessimistic than our downside scenario.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

139,500 KRW 26,507 KRW Fair Value 210,506 KRW Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 26,507 KRW – 139,500 KRW · fair‑value band 157,879 KRW – 263,132 KRW · the 134,300 KRW price screens below the 210,506 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Hana Financial (086790) currently trades at 134,300 KRW, while our model-based Fair Value estimate is 210,506 KRW, implying the stock looks roughly 36.2% undervalued today. The Quality Score stands at 43/100 (below-average quality), in the Financial Services sector. Bull case: the Multiples group reads highest at a median of 193,969 KRW per share, and 3 of the 6 models we run sit above the 134,300 KRW price. Bear case: the Dividend Discount group reads lowest at 82,919 KRW, and 3 of the 6 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Hana Financial generated revenue of 12.6T KRW at a net margin of 32.4%. Revenue declined 10.7% year over year. It earns a return on equity of 9.1%. Net debt stands at 71.6T KRW. Fundamentals as of Aug 13, 2026

Our scenario range runs from 157,879 KRW (bear case) to 263,132 KRW (bull case); at 134,300 KRW, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 89% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −10% fair-value upside, at 57%, 086790 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

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
Highest evidence
Residual Income best evidence 144,533 KRW 158,813 KRW 228,585 KRW 76
DDM Multi-Stage 50,935 KRW 82,919 KRW 115,888 KRW 66
Gordon GGM 50,935 KRW 111,200 KRW 187,098 KRW 65
All 6 models by family
Dividend Discount
Gordon GGM 50,935 KRW 111,200 KRW 187,098 KRW 65
DDM Multi-Stage 50,935 KRW 82,919 KRW 115,888 KRW 66
Multiples
P/E Multiple 145,477 KRW 193,969 KRW 242,461 KRW 63
P/B Multiple 174,480 KRW 232,640 KRW 290,800 KRW 55
Asset-Based
NCAV (Graham) 83,086 KRW 111,335 KRW 166,171 KRW 54
Economic Profit
Residual Income best evidence 144,533 KRW 158,813 KRW 228,585 KRW 76

Widest divergence: Multiples (193,969 KRW) versus Dividend Discount (82,919 KRW). Highest evidence: Residual Income (76).

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Key figures & financial health

P/S ratio 2.61 TTM
Dividend yield 3.4%
Net margin 27.8% FY2025
Return on equity 9.1% TTM
Return on assets (EBIT) 0.9% avg 5y
Operating margin 64.5% TTM
More key figures
Growth
Revenue (TTM) 14.0T KRW TTM
Revenue growth (YoY) +25.7% 3y avg +5.9%
EPS growth (YoY) +11.4%
Balance sheet & cash flow
Free cash flow −3.9T KRW FY2025
Net debt 71.6T KRW FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 43/100

Of which business quality 38 · Market factors (momentum, volatility) 75

Profitability 33
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 21
Balance sheet, leverage, solvency risk
Investment 57
Disciplined investing over empire-building
Low Volatility 64
Calm price path (market factor)
Momentum 71
Price trend over the last 3–12 months (market factor)
52W Momentum 94
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Hana Financial Group Inc., through its subsidiaries, provides financial services in South Korea, Hong Kong, Singapore, the United States, Japan, China, Indonesia, the United Kingdom, Canada, and internationally. It operates through five segments: Banking, Securities, Credit Card, Capital Financing, and Others.

Full company description

Hana Financial Group Inc., through its subsidiaries, provides financial services in South Korea, Hong Kong, Singapore, the United States, Japan, China, Indonesia, the United Kingdom, Canada, and internationally. It operates through five segments: Banking, Securities, Credit Card, Capital Financing, and Others. The company engages in banking services; financial investments; credit card business; installment credit financing; real estate trust; system development service; mutual savings banking; life and non-life insurance; transfer agent; asset management; investment and management service for non-performing loan asset-backed securities; private placed fund; trust account; special purpose vehicle; and trust and collective investment. It is also involved in seafood processing; payment processing; technology financial; asset securitization; other financial; real estate; and elderly care and welfare facilities businesses. The company was founded in 1971 and is headquartered in Seoul, South Korea.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hana Financial reported revenue of 14.4T KRW in FY2025 versus 10.9T KRW in FY2021, a compound +7.3%/yr. Reported net income was 4.0T KRW in FY2025, compounding +3.2%/yr from FY2021.

Growth Quality 47/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
14.4T KRW
Latest YoY
+7.5%
Avg. revenue growth/yr (3Y) 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.
+5.9%
Avg. revenue growth/yr (5Y) 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.
+7.2%
Avg. revenue growth/yr (20Y) 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.
+11.5%
Value creation/yr (5Y, in KRW) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in KRW: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+13.5% (10.1 + 3.4)
Revenue +7.3%/yr
FY21 10.9T KRW
FY22 12.1T KRW
FY23 13.2T KRW
FY24 13.4T KRW
FY25 14.4T KRW
Net income +3.2%/yr
FY21 3.5T KRW
FY22 3.6T KRW
FY23 3.4T KRW
FY24 3.7T KRW
FY25 4.0T KRW

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Cite: Fair Value Calculator (2026). "Hana Financial Fair Value". https://www.fairvalue-calculator.com/stock/086790

Peer Group

Banks - Regional · 1071 stocks

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.

Quality Score 45 · Bottom 25%
Fair Value upside +57% · Top 25%
Return on equity (TTM) 9% · Below median
Return on assets 1% · Below median
Net margin (TTM) 29% · Above median
Operating margin (TTM) 65% · Top 25%
Revenue growth 26% · Top 25%
Dividend yield (TTM) 3.4% · Above median
Debt / equity 1.45× · Higher than 75% of peers

Valuation Multiples vs Banks - Regional median · lower = cheaper

PEG 1.58× · Pricier than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 33
FUTURE100 · sector 45
PAST36 · sector 41
HEALTH27 · sector 85
DIVIDEND68 · sector 51

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
DBS Group D05 75.65 SGD 40.48 SGD −46%
China Merchants Bank Co 3968 HK$47.96 HK$76.51 +60%
Intesa Sanpaolo S.p.A ISP €6.78 €5.66 −17%
HDFC Bank Limited HDB $23.17 $24.12 +4%
BNP Paribas SA BNP €102.56 €144.64 +41%
UniCredit S.p.A UCG €84.71 €77.62 −8%
Mizuho Financial Group MFG $10.74 $9.69 −10%
ICICI Bank Limited ICICIBANK ₹1,443 ₹835.21 −42%
Oversea-Chinese Banking Corporation O39 31.07 SGD 19.80 SGD −36%
CaixaBank, S.A CABK €13.52 €8.85 −35%

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Frequently asked questions

Is Hana Financial (086790) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 210,506 KRW versus a price of 134,300 KRW, about +57% upside (undervalued).
What is the fair value of 086790?
Our model-based fair value for Hana Financial is 210,506 KRW (as of Aug 13, 2026), built from audited fundamentals. The current price: 134,300 KRW.
What is the quality score of 086790?
Hana Financial has a Quality Score of 43/100. 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 revenue of Hana Financial (086790)?
Hana Financial reported trailing-twelve-month revenue of about 12.6T KRW (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 086790?
The net profit margin of Hana Financial is about 32.4%, meaning it keeps roughly 32.4% of revenue as net income. Based on the latest reported figures.
Does Hana Financial pay a dividend?
Hana Financial currently shows a dividend yield of about 3.41% relative to its recent price (as of Aug 13, 2026).
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