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BNK Financial Group Inc (138930) Fair Value & Analysis

Financial Services · KR · Market cap 5.7T KRW (≈ $4.0B) · ISIN KR7138930003

What is BNK Financial Group Inc really worth?

BF BNK Financial Group Inc 138930 · KO
Price15,390 KRW
Fair Value29,700 KRW
Upside+93.0%
Quality44/100

Below-average quality, trading 48% below our fair value of 29,700 KRW.

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Strengths

Solidly profitable · 14.3% net margin

Risks

!Expensive Growth (revenue 5y +6.5 %/yr)
!Moderate debt · negative free cash flow
!Trails peers (3/9)
!Moderate moat 55/100
!Evidence only medium, so the estimate is less certain

For context

·4.97% dividend yield
Evidence: Medium Range 22,275 KRW – 37,125 KRW

Fair value as of: Aug 13, 2026

From 6 valuation models · updated 22 days ago

Fair value updated Aug 13, 2026, revised from 34,142 KRW to 29,700 KRW (−13.0%) since Jul 16, 2026. Share price +2.8% 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 (44/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (22,275 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)

22,065 KRW 4,582 KRW Fair Value 29,700 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 4,582 KRW – 22,065 KRW · fair‑value band 22,275 KRW – 37,125 KRW · the 15,390 KRW price screens below the 29,700 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

BNK Financial Group Inc (138930) currently trades at 15,390 KRW, while our model-based Fair Value estimate is 29,700 KRW, implying the stock looks roughly 48.2% undervalued today. The Quality Score stands at 44/100 (below-average quality), in the Financial Services sector. Bull case: the Multiples group reads highest at a median of 34,142 KRW per share, and 6 of the 6 models we run sit above the 15,390 KRW price. Bear case: the Dividend Discount group reads lowest at 15,433 KRW, and 0 of the 6 models stay below the price. Evidence for this calculation is medium.

Trailing-twelve-month revenue stands at 5.4T KRW. Revenue grew 21.3% year over year. It earns a return on equity of 7.5%. Net debt stands at 17.2T KRW. Fundamentals as of Aug 13, 2026

Our scenario range runs from 22,275 KRW (bear case) to 37,125 KRW (bull case); at 15,390 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 about 31% below its 52-week high and 43% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −10% fair-value upside, at 93%, 138930 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 29,116 KRW 31,168 KRW 35,193 KRW 76
DDM Multi-Stage 9,358 KRW 15,433 KRW 21,292 KRW 66
Gordon GGM 9,358 KRW 20,431 KRW 34,375 KRW 65
All 6 models by family
Dividend Discount
Gordon GGM 9,358 KRW 20,431 KRW 34,375 KRW 65
DDM Multi-Stage 9,358 KRW 15,433 KRW 21,292 KRW 66
Multiples
P/E Multiple 25,606 KRW 34,142 KRW 42,677 KRW 63
P/B Multiple 33,485 KRW 44,647 KRW 55,808 KRW 55
Asset-Based
NCAV (Graham) 17,390 KRW 23,302 KRW 34,780 KRW 54
Economic Profit
Residual Income best evidence 29,116 KRW 31,168 KRW 35,193 KRW 76

Widest divergence: Multiples (34,142 KRW) versus Dividend Discount (15,433 KRW). Highest evidence: Residual Income (76).

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Key figures & financial health

P/S ratio 0.99 TTM
Dividend yield 5.0%
Net margin 20.2% FY2025
Return on equity 7.5% TTM
Return on assets (EBIT) 1.4% avg 5y
Operating margin 40.1% TTM
More key figures
Growth
Revenue (TTM) 5.4T KRW TTM
Revenue growth (YoY) +21.3% 3y avg +3.7%
EPS growth (YoY) +30.2%
Balance sheet & cash flow
Free cash flow −2.2T KRW FY2025
Net debt 17.2T KRW FY2025

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

Quality Score breakdown

Overall quality 44/100

Of which business quality 38 · Market factors (momentum, volatility) 42

Profitability 29
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 15
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 34
Distance to the 52-week high (market factor)
Net Issuance 99
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

BNK Financial Group Inc., together with its subsidiaries, provides various financial products and services in South Korea and internationally.

Full company description

BNK Financial Group Inc., together with its subsidiaries, provides various financial products and services in South Korea and internationally. The company is involved in banking; specialized credit financial; investment brokerage and trading; financial advisory and collective investment; credit investigation and collection agency; start-up investment company advisory; and leasing activities. It also operates as a savings bank; small loan specialty; and provides system software development and supply services. The company was formerly known as BS Financial Group Inc. and changed its name to BNK Financial Group Inc. in April 2015. BNK Financial Group Inc. was founded in 1967 and is headquartered in Busan, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

BNK Financial Group Inc reported revenue of 4.0T KRW in FY2025 versus 3.5T KRW in FY2021, a compound +3.9%/yr. Reported net income was 815B KRW in FY2025, compounding +0.7%/yr from FY2021.

Growth Quality 40/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
4.0T KRW
Latest YoY
+4.3%
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.
+3.7%
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.
+6.5%
Avg. revenue growth/yr (25Y) 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.
+5.7%
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.
+13.8% (8.8 + 5.0)
Revenue +3.9%/yr
FY21 3.5T KRW
FY22 3.6T KRW
FY23 3.7T KRW
FY24 3.9T KRW
FY25 4.0T KRW
Net income +0.7%/yr
FY21 791B KRW
FY22 810B KRW
FY23 640B KRW
FY24 729B KRW
FY25 815B KRW

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Cite: Fair Value Calculator (2026). "BNK Financial Group Inc Fair Value". https://www.fairvalue-calculator.com/stock/138930

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 46 · Bottom 25%
Fair Value upside +93% · Top 25%
Return on equity (TTM) 8% · Below median
Return on assets 1% · Bottom 25%
Net margin (TTM) 14% · Bottom 25%
Operating margin (TTM) 26% · Below median
Revenue growth 43% · Top 25%
Dividend yield (TTM) 5.0% · Top 25%
Debt / equity 1.35× · Higher than 75% of peers

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
PAST32 · sector 41
HEALTH33 · sector 85
DIVIDEND99 · 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 BNK Financial Group Inc (138930) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 29,700 KRW versus a price of 15,390 KRW, about +93% upside (undervalued).
What is the fair value of 138930?
Our model-based fair value for BNK Financial Group Inc is 29,700 KRW (as of Aug 13, 2026), built from audited fundamentals. The current price: 15,390 KRW.
What is the quality score of 138930?
BNK Financial Group Inc has a Quality Score of 44/100. 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 BNK Financial Group Inc (138930)?
BNK Financial Group Inc reported trailing-twelve-month revenue of about 5.4T KRW (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 138930?
The net profit margin of BNK Financial Group Inc is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.
Does BNK Financial Group Inc pay a dividend?
BNK Financial Group Inc currently shows a dividend yield of about 4.97% relative to its recent price (as of Aug 13, 2026).
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