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KREDKRED
316140KOSPI

Woori Financial Group

32,350
-1,000 (-3.00%)

Price chart

  • MA5
  • MA20
  • MA60
Market capitalizationKRW 1T

Each day's close multiplied by the listed share count of this share class alone, sampled weekly. It is the figure for this issue only, not a combined total across common and preferred shares.

Overview

Summary

Woori Financial Group Inc. is a holding company established on January 11, 2019. It is listed on the KOSPI market and functions as a corporate group structure that manages its subsidiaries.

The company operates as a comprehensive financial group. Its business segments include banking, insurance, credit finance, and financial investment. It provides services through subsidiaries such as Woori Bank, Woori Card, and Woori Investment & Securities, as well as various overseas corporations.

Business overview as filed

우리금융지주는 2019년 1월 11일 설립 후 2024년 8월 우리투자증권 출범, 2025년 7월 동양생명보험·ABL생명보험의 자회사 편입으로 은행·증권·보험 등을 모두 포괄하는 종합금융그룹을 완성했습니다. 우리금융그룹은 현재 우리은행, 동양생명보험, 우리카드, 우리금융캐피탈, 우리투자증권을 비롯한 16개 자회사 및 미국, 중국, 인도네시아, 베트남 등지의 14개 해외현지법인, 그리고 우리벤처파트너스와 우리프라이빗에퀴티자산운용의 투자합자회사 등 다양한 손자회사로 구성되어 있습니다.

우리금융그룹은 순영업수익의 견조한 성장세와 보험사 인수를 통한 수익구조 다변화에 힘입어 2년 연속 당기순이익 3조원대를 시현했습니다. 자산리밸런싱 및 조달비용 효율화 노력을 지속하는 한편, 종합금융그룹 완성에 따른 균형잡힌 사업 포트폴리오에서 창출한 수수료 수익과 유가증권·외환·보험 관련 손익이 고르게 성장하며 대내외 불확실성에도 이자, 비이자이익의 균형잡힌 수익 창출 능력을 보여주었습니다. 그룹 판매관리비는 그룹 사업기반 강화를 위한 초기 투자 등의 영향으로 전년 동기 대비 증가했으나, 우리금융은 AI 기반 업무 효율화 및 경상경비 절감 노력을 통해 판매관리비를 안정적으로 관리하고 있습니다.

NPL 비율은 그룹 0.63%, 은행 0.31%로 대내외 불확실성에도 불구, 철저한 리스크 관리를 통해 안정적인 손실 흡수 능력을 확보하고 있습니다. 우리금융은 최근 3년간 취약여신의 선제적 관리를 집중적으로 추진해왔으며, 선제적으로 강화한 손실흡수능력을 바탕으로 향후에도 실질적인 건전성 관리에 만전을 기할 것입니다. 또한 그룹 보통주자본비율은 전사적인 자산 리밸런싱을 통한 재무구조 안정화를 통해 2025년 중 큰 폭의 개선세를 보이며 그룹의 자본비율 관리 역량을 입증하였습니다.

앞으로도 우리금융그룹은 종합그룹금융 완성을 토대로 은행·비은행 부문의 균형있는 성장과 본격적인 계열사 간 시너지를 통해 그룹의 수익 기반을 강화하는 한편, 기업금융 경쟁력을 적극 활용하여 신성장 및 첨단전략산업 중심 실물경제를 지원함으로써 금융의 본질적 역할을 충실히 수행하고 그룹의 미래 지속가능한 성장 기반을 확보하고자 합니다.

우리금융지주는 견조한 펀더멘탈과 더불어 ESG 경영체계를 공고히 구축하고 있습니다. 2023년, 그룹 전체 포트폴리오를 대상으로 그룹 금융 탄소배출량을 측정하였고, SBTi 인증을 획득하였습니다. 2024년에는 7개 핵심 관리섹터를 선정하고 탄소배출량 감축방안을 수립하여 기후 리스크관리를 고도화했고 이를 지속가능경영보고서에 공시하였습니다. 이러한 노력을 인정받아, 'MSCI ESG평가’에서 3년 연속 최고등급인 AAA등급을 획득하였고, DJSI(다우존스 지속가능경영지수) World 지수에도 편입되었습니다. 우리금융그룹은 향후에도 TCFD 권고안에 따라 기후 관련 위기 및 기회 요인을 철저히 관리하고, 투명한 정보공개를 통해 기후리스크 관리체계를 지속적으로 고도화할 방침입니다.

Company overview

가. 연결대상 종속회사 현황(요약)

가-1. 연결대상회사의 변동내용

나. 회사의 법적 ·상업적 명칭

당사의 명칭은 「주식회사 우리금융지주」입니다.

영문으로는 「Woori Financial Group Inc.」라고 표기합니다.

다. 설립일자 및 존속기간

당사는 2019년 01월 11일 설립되었습니다.

라. 본사의 주소, 전화번호, 홈페이지 주소

마. 회사 사업 영위의 근거가 되는 법률

금융지주회사법 및 관련 법령 등

바. 중소기업 등 해당 여부

사. 주요 사업의 내용 및 향후 추진하려는 신규사업에 관한 간략한 설명

지배회사인 주식회사 우리금융지주는 2019년 1월 설립한 지주회사이며, 자회사등에 대하여 사업목표를 부여하고 사업계획을 승인하며 이에 따른 경영성과평가 및 보상에 관한 결정, 경영지배구조 결정 및 업무와 재산상태에 대한 검사를 실시하는 등 경영관리업무와 이에 부수하는 자회사등에 대한 자금지원, 자회사등에 대한 출자 또는 자회사등에 대한 자금지원을 위한 자금조달업무를 수행하고 있습니다.

주요 종속회사들이 영위하는 사업으로는 은행업(우리은행), 보험업(동양생명보험, 에이비엘생명보험), 여신전문금융업(우리카드, 우리금융캐피탈), 금융투자업(우리투자증권, 우리자산신탁, 우리자산운용, 우리벤처파트너스, 우리프라이빗에퀴티자산운용, 우리금융에프앤아이), 저축은행업(우리금융저축은행), 기타(우리신용정보, 우리펀드서비스, 우리에프아이에스, 우리금융경영연구소) 등이 있습니다.

아. 신용평가에 관한 사항

(1) 우리금융지주 신용평가 등급 현황

(2) 공시기간내 신용평가기관의 평가

(3) 신용등급평가체계 요약

■ 한국기업평가

■ 한국신용평가

■ NICE신용평가

자. 회사의 주권상장(또는 등록ㆍ지정) 및 특례상장에 관한 사항

Transcribed verbatim from the sentences the filer wrote in the fiscal 2025 business report (received 2026.03.13), tables and figures omitted.

  • The summary is written separately from the filed text and is not the filer's wording, so it may phrase things differently from or omit parts of the original, which is shown alongside for checking.
  • The company introduction reproduces the sentences the filer wrote in its business report, with tables, figures and the sentences that point to other sections of the report omitted, and the accuracy of their content has not been separately verified.

VaR

3.86%
[2.67%, 5.63%] · As of 2026-10-02
VaR by window

The headline's measure for each of the three windows on one scale, the dot being the estimate and the bar its interval. The windows are nested and share their observations, so the three readings are not three independent measurements. The selected window is highlighted.

Daily return distribution

The issue's daily returns over the chosen window counted into equal-width bins. The vertical lines mark the VaR and cVaR above on the loss side. The published VaR sample applies exclusion rules for halts and first sessions that this raw daily series does not, so the bars and the marks can differ slightly at the edges.

Drawdown

Deepest drawdown 30.5% (2026-06-26). How far below its previous peak the issue stood each day over the chosen window, a description of the path already travelled.

If these numbers are unfamiliarThere is a guide that walks through VaR, cVaR and annualized volatility in plain language.Read the guide

Characteristic line

0.22
Beta [0.10, 0.33] · KOSPI200 · As of 2026-10-08
Intercept
+0.019%[-0.282%, +0.319%]
R squared
0.11
Observations
252
Trading-time corrected beta
0.08[-0.08, 0.25]
252-day rolling beta

A 252-day window rolled one day at a time over the longest daily span of the characteristic line. It shows when the beta against the KOSPI200 and the annualized volatility of the issue's excess return rose and fell, and unlike the headline figures above it carries no interval.

252-day rolling annualized volatility

Each point is one period's index excess return and issue excess return, and the line is the regression fitted to those points. The risk-free rate is the certificate of deposit rate.

Financials

2022202320242025TTM
Interest incomeKRW 100M146,545206,416220,133211,887217,132
Revenue growth%—40.856.65-3.75—
Operating incomeKRW 100M44,30534,99042,55236,74838,209
Operating income growth%—-21.0221.61-13.64—
Net incomeKRW 100M33,24026,26931,71532,27532,991
Net income growth%—-20.9720.731.77—
Attributable to ownersKRW 100M31,41725,06330,86031,24331,812
Attributable to minoritiesKRW 100M1,8231,2068551,0321,179
Operating margin%30.2316.9519.3317.3417.60
Net margin%22.6812.7314.4115.2315.19
ROE%10.927.919.058.678.18
ROA%0.690.530.600.540.52
Debt ratio%1,419.171,391.141,364.691,488.671,453.76
Reserve ratio%671.17681.68733.29781.65797.77
Free cash flowKRW 100M184,51214,572-63,512133,164—
FCF margin%125.917.06-28.8562.85—
OCF conversion%560.3061.74-193.26422.69—
Capex to revenue%1.180.801.011.54—
EPSKRW4,3153,3333,9504,0524,369
PERx2.683.903.896.916.64
BPSKRW39,50542,11345,91649,06553,406
PBRx0.290.310.330.570.54
Dividend per shareKRW1,1303601,1801,260—
Payout ratio%26.1910.8029.8731.10—

Consolidated basis

Margins%

Cash flow by activityKRW 100M

Quarterly resultsKRW 100M

Year-on-year growth%

Each quarterly bar is that quarter's three months and is never mixed with an annual figure. The growth rate is computed only where the same quarter a year earlier is also shown here, and is left blank when the base was a loss.

Free cash flow breakdownKRW 100M

Free cash flow is cash from operating activities less spending on property, plant and equipment, and all three bars keep the sign as filed.

Owners' net margin%

Asset turnoverx

Financial leveragex

ROE%

ROE is the product of the owners' net margin, asset turnover and financial leverage. All three use period-end balances as denominators, and profit and equity are on the owners' basis, so the product matches the ROE in the table.

Financial statements

Balance sheet

2022202320242025
4,804,7444,980,0495,257,5336,014,573
Total liabilitiesKRW 100M4,488,4714,646,0744,898,5815,635,980
316,273333,975358,953378,592

Income statement

2022202320242025
146,545206,416220,133*211,887
44,30534,99042,55236,748
44,85435,17542,22840,902
33,24026,26931,71532,275
Basic earnings per shareKRWNot applicableNot applicable3,9504,052
Diluted earnings per shareKRWNot applicableNot applicableNot applicable4,052
30,84232,90435,54234,043

Cash flow statement

2022202320242025
Net incomefrom the income statement33,24026,26931,71532,275
Total adjustments to operating cash flowcomputed153,001-10,050-93,008104,149
186,24116,219-61,293136,424
-69,687-22,541-343-98,806
19,198-28,60212,45376,853
206,131342,191305,566272,811
Net change in cash and cash equivalentsKRW 100M136,061-36,625-32,755112,186

In the latest fiscal year operating and financing activities brought cash in while investing activities spent it.

A year whose own filing is absent is filled from the restated comparative in the following filing, and is marked as such. Operating indicators outside the statements, such as order backlogs, and audit opinions are not covered here, and per-share figures follow the filed values without retroactive adjustment for share splits.

Transcribed verbatim from the sentences the filer wrote in the fiscal {year} business report (received {date}), with tables, figures and cross-references to other sections omitted.

The newest annual filing shown was received on 2026.03.13.

Audit opinion

Fiscal yearOpinionAuditorFiscal year end
2025적정의견Term 7삼정회계법인2025-12-31
2024적정의견Term 6삼정회계법인2025-12-31
2023적정의견Term 5삼정회계법인2025-12-31
2022(*1)삼일회계법인2022-12-31
(*2)삼일회계법인2022-12-31
(*3)삼일회계법인2022-12-31
2019(*)Term 1안진회계법인2019-12-31

The auditor's name and the opinion are transcribed verbatim from the filed audit report, and the wording follows the filer. A fiscal year shown twice means the filing carried two entries that the source does not distinguish.

Korean audit opinions come in four kinds, where an unqualified opinion (적정) finds the statements fairly presented, a qualified opinion (한정) does so except for a stated matter, an adverse opinion (부적정) finds them not fairly presented, and a disclaimer of opinion (의견거절) means the auditor could not obtain enough evidence to form a view.

Valuation

Valuation multiplesx

PER and PBR divide each period's closing price by the per-share figure filed for that same period, and a loss period is left blank. The quarterly view is a multiple of quarterly EPS.

Dividend historyKRW

The dividend-per-share bars are restated onto the current share basis for splits and par-value changes. The payout ratio and the dividend yield divide figures filed for the same period and are left unadjusted.

Payout ratio and dividend yield%

PER bandKRW

The price is the adjusted close and each band line multiplies the EPS of the latest completed fiscal year by a fixed multiple. The previous year's EPS stays in force until the next fiscal year ends, and the multiples divide the range between the lowest and highest annual PER on record into equal steps.

Valuation models

Five models priced under one set of assumptions, set beside the current price, with how each has moved by fiscal year.

Assumptions

Risk-free rate10-year treasury yield · 2026-10-084.40%
BetaDaily 5Y0.38
%
%
Cost of equity6.30%
Weighted average cost of capital—
Initial growth6.0%
Effective tax rate21.1%
Base fiscal year2025
Current priceKRW32,350

The risk premium and the terminal growth rate are adjustable assumptions, and the rest follow from the data and the formulas.

ModelModel priceKRWVersus current price
Gordon growth model29,901-7.6%
Dividend discount model DDM32,794+1.4%
Discounted cash flow FCFFNo borrowing line filed
Discounted cash flow FCFE472,134+1,359.5%
Residual income model RIM80,234+148.0%
The table prices the newest fiscal year's accounts at today's treasury yield and the current price.

Dividend and residual income familyKRW

Discounted cash flow familyKRW

Each fiscal year's figures use that year's accounts and the treasury yield at its period end, with beta held at its current value, and splits or par changes are restated to the current share basis.

How the figures are calculated

Each model's formula is shown in symbols and then with this issue's own numbers substituted, step by step. Changing a value in the assumptions panel changes the numbers here too. Firm-level amounts are in hundred million won and per-share values in won.

Cost of equity

r=rf+β×ERPr = r_f + \beta \times \mathit{ERP}

r = 4.40% + 0.38 × 5.00% = 6.30%

Initial growth

g1=max⁡{ROE×(1−payout), 0},gt=g1+(gT−g1) t−1N−1g_1 = \max\{\mathit{ROE} \times (1 - \text{payout}),\,0\},\qquad g_t = g_1 + (g_T - g_1)\,\frac{t-1}{N-1}

g_1 = max(8.67% × (1 − 31.10%), 0) = 5.98%

Growth starts at this value in the first year and falls by equal steps each year to reach the terminal rate in the fifth

Gordon growth model

P0=D0 (1+gT)r−gTP_0 = \frac{D_0\,(1 + g_T)}{r - g_T}

P_0 = 1,260 × (1 + 2.00%) / (6.30% − 2.00%) = 1,285 / 0.0430 = 29,901 KRW

Dividend discount model DDM

P0=∑t=1NDt(1+r)t+DN(1+gT)(r−gT) (1+r)N,Dt=Dt−1(1+gt)P_0 = \sum_{t=1}^{N} \frac{D_t}{(1+r)^t} + \frac{D_N (1+g_T)}{(r - g_T)\,(1+r)^N},\qquad D_t = D_{t-1}(1+g_t)

D_0 = 1,260, g_1 = 5.98%, g_T = 2.00%, r = 6.30%

YearGrowthDividend KRWDiscount factorPresent value KRW
15.98%1,3350.94081,256
24.98%1,4020.88501,241
33.99%1,4580.83261,214
42.99%1,5010.78321,176
52.00%1,5310.73681,128
Terminal value2.00%36,3430.736826,779
Total32,794

P_0 = 32,794 KRW

Residual income model RIM

P0=B0+∑t=1NRIt(1+r)t+RIN(1+gT)(r−gT) (1+r)N,RIt=(ROE−r) Bt−1P_0 = B_0 + \sum_{t=1}^{N} \frac{\mathit{RI}_t}{(1+r)^t} + \frac{\mathit{RI}_N (1+g_T)}{(r - g_T)\,(1+r)^N},\qquad \mathit{RI}_t = (\mathit{ROE} - r)\,B_{t-1}

B_0 = 49,065 KRW, ROE = 8.67%, payout ratio = 31.10%, r = 6.30%, g_T = 2.00%

YearOpening book valueEarningsEquity chargeResidual incomeDiscount factorPresent value
149,0654,2563,0901,1660.94081,097
251,9984,5113,2751,2360.88501,094
355,1054,7803,4711,3100.83261,090
458,3995,0663,6781,3880.78321,087
561,8905,3693,8981,4710.73681,084
Terminal value34,9020.736825,717

P_0 = 49,065 + 5,451 + 25,717 = 80,234 KRW

Discounted cash flow FCFE

FCFE0=CFO−CapEx+ΔD,P0=1Shares[∑t=1NFCFEt(1+r)t+FCFEN(1+gT)(r−gT) (1+r)N],FCFEt=FCFEt−1(1+gt)\mathit{FCFE}_0 = \mathit{CFO} - \mathit{CapEx} + \Delta D,\qquad P_0 = \frac{1}{\text{Shares}}\left[\sum_{t=1}^{N} \frac{\mathit{FCFE}_t}{(1+r)^t} + \frac{\mathit{FCFE}_N (1+g_T)}{(r - g_T)\,(1+r)^N}\right],\qquad \mathit{FCFE}_t = \mathit{FCFE}_{t-1}(1+g_t)

Base-year cash flow FCFE

FCFE_0 = 136,423.9 − 3,259.5 + 0.0 (net borrowing) = 133,164.4 KRW hundred million

YearGrowthCash flow KRW hundred millionDiscount factorPresent value KRW hundred million
15.98%141,123.80.9408132,762.2
24.98%148,155.80.8850131,119.5
33.99%154,065.10.8326128,270.6
42.99%158,678.30.7832124,283.8
52.00%161,851.80.7368119,258.3
Terminal value2.00%3,840,915.90.73682,830,127.4
Total3,465,821.8

P_0 = 3,465,821.8 KRW hundred million ÷ 734,076,320 (shares) = 472,134 KRW

The cost of equity is the risk-free rate plus beta times the equity risk premium. Initial growth is the newest fiscal year's return on equity times its retention ratio, floored at zero, and falls by equal steps from that value in the first year to the terminal rate in the fifth. Only the Gordon model grows at the terminal rate from the start. Discounted cash flow starts from operating cash flow less capital expenditure, where FCFF adds after-tax interest paid and discounts at the weighted average cost of capital, and FCFE adds net borrowing and discounts at the cost of equity. The residual income model adds to book value per share the present value of earnings above the equity charge.

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