Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price81.71 USD
Fair value100.00
Ethical score30.0/100
Our investment reviews on this name
2026-09-12Read Accumulation81.71+0.0% to today ✓
2026-08-12Read Markup72.38+12.9% to today ✓
2026-07-02Read Markdown67.30+21.4% to today
Our analytic regime reads on this name, dated and marked against today's price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Shinhan Financial Group Co Ltd ADR holds its Markup at $81.71. The statistical read favours the sellers, held for 1 days.
As held on the ledger · 2026-09-09
Phase
Markup
Quantitative state
The statistical read favours the sellers, held for 1 days
Price at the screen
$81.71
Valuation
10.09 trailing · 8.75 forward price to earnings
Values screen
FAIL· score 30.0
Beta
0.65
The Workings
Five Screens, Shown in Full
Does not pass. Excluded industry: Banks - Regional
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Excluded industry: Banks - Regional
Fail
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
Excluded
Below 33%
Interest-bearing cash and securities are of assets, above the one-third limit.
Fail
Receivables
Excluded
Below 49%
Money owed to the company is of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-09-09 screen. The gold marker is the market price at the same screen. A 22.4% margin of safety to the base estimate.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-09 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Banks Always Hit the Ethical Wall
Picture a shop owner in Seoul borrowing to restock or a family taking a mortgage for their first home. Shinhan Financial sits in the middle of those ordinary deals across South Korea and a few markets next door.
We pass outright because the stock fails our ethical screen on regional banks. The 7.9 times forward P/E and 38 percent gap to fair value look attractive on paper, yet the industry exclusion leaves no room for discussion.
A narrow moat and 9 percent ROE already point to thin durability through credit cycles, even before revenue growth at just 7 percent is considered. Analysis, not advice.
The risks · The things to watch: its business and earnings are exposed to South Korea and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
SHG trades on the NYSE (the company is based in South Korea). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markup to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 12.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 15% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 47%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (1 analysts) rates it strong buy, with a mean price target of $92.
2026-08-12Markup · changed$72.38+7.5%Entry 4
The framework has shifted from markdown to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 7.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 15% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 47%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (1 analysts) rates it strong buy, with a mean price target of $92.
2026-07-18Markdown$67.30+0.0%Entry 3
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 15% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 47%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (1 analysts) rates it strong buy, with a mean price target of $92.
2026-07-03Markdown$67.30+0.0%Entry 2
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Markdown$67.30Entry 1
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
