WOORI FINANCIAL GROUP INC. financial statements

Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data WOORI FINANCIAL GROUP INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2010	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Operating income		2,021	2,479	2,423	1,915	3,079	3,516	2,710	2,879
Interest expense	6,775
Other non-operating income		-194	40.9	-66.6	-72.9
Pre-tax income	1,454	1,826	2,520	2,357	1,843	3,102	3,609	2,725	2,857
Income tax	367	393	677	593	447	778	935	690	711
Net income to minority interests	-46.8	16.8	16.6	143	191	185	145	93.4	57.8
Net income	1,134	1,417	1,827	1,620	1,204	2,139	2,529	1,941	2,088
EPS, basic	1.41	1.87	2.51	2.36	1.60			2,502.00	2,673.00
EPS, diluted	1.41	1.87	2.51	2.36	1.60			2,502.00	2,673.00
Shares, basic (weighted)	806
Shares, diluted (weighted)	806

Balance sheet

	FY2010	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Cash and equivalents	14,114	6,207	5,840	5,886	8,406	16,357	26,506	20,674	18,458
Property, plant and equipment	2,184	2,321	2,202	2,912	3,027	2,671	2,494	2,461	2,281
Goodwill	78.2
Intangible assets	86.8
Total assets	241,410	296,318	305,910	313,268	367,444	376,227	381,268	385,751	355,719
Total liabilities	228,803	277,052	286,184	291,206	342,837	351,993	356,171	359,882	331,433
Total debt		13,851	14,559	16,442	19,101	20,827	22,560	24,002
Paid-in capital	4,392
Retained earnings	4,076	14,633	15,387	16,032	17,741	17,960	18,846	19,354	18,234
Treasury stock	-0.02
Other comprehensive income	321
Shareholders' equity	12,355	19,080	19,534	18,616	21,226	21,704	22,823	24,529	23,070
Minority interests	252	186	191	3,446	3,381	2,531	2,274	1,341	1,217
Total equity	12,607	18,479	18,999	23,471	22,485	22,858	24,498	22,596	24,286
Total liabilities and equity	241,410	296,318	305,910	313,268	367,444	376,227	381,268	385,751	355,719
Shares outstanding	806

Cash flow statement

	FY2010	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Net income	1,087	1,433	1,844	1,763	1,395	2,324	2,673	2,035	2,146
Depreciation and amortization	224
Change in payables	219
Cash from operations	4,442	-1,854	8,231	1,619	3,320	-1,515	14,779	1,256	-4,147
Capital expenditures	-121	-152	-107	-372	-138	-100	-137	-128	-150
Cash from investing	-8,288	1,765	-9,948	-7,432	-1,341	-8,974	-5,530	-1,746	-23.2
Debt issued		8,486	8,632	12,520	1,873	2,692	2,287	1,807
Debt repaid		-11,891	-7,502	-9,853
Share buybacks									-92.5
Dividends paid	-71.3	317
Cash from financing	3,295	-57.2	1,363	5,341	2,180	7,636	1,523	-2,215	843
Exchange rate effect		-493	-473	166	-846	814	24.5	-132	1,111
Net change in cash	-551	-147	-354	-473	4,159			-2,837	-2,216
Free cash flow	4,321	-2,006	8,124	1,247	3,183	-1,616	14,642	1,129	-4,297
Interest paid	6,761	-3,190	3,457	3,794	3,690	2,538	3,940	8,232	8,447
Income taxes paid	432	-379	496	478	290	476	818	1,193	287

Key metrics

Worked out from the statements above. Latest values use fiscal 2024. Valuation uses the share price of $78.03 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Effective tax rate	24.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	8.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.6%	Net income / average total assets.
Return on invested capital (ROIC)	13.3%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.

Growth

Metric	Value	How it is calculated
Operating income growth, 1y	6.2%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-2.2%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	3.5%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	7.6%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-0.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	5.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	6.8%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 5y	308.1%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-430.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y	-480.7%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	-5.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	2.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	4.4%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-7.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-1.9%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	2.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	93.2%	Total liabilities / total assets.
Tangible book value	$23.07B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
FCF conversion	-205.8%	Free cash flow / net income, when net income is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2,673.00	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$2,673.00	Net income per basic share, as reported (split-adjusted).

Valuation

Metric	Value	How it is calculated
Market cap	$19.01B	Share price x shares outstanding.
Enterprise value	$556.2M	Market cap + total debt - cash - short-term investments.
P/E	9.11x	Market cap / net income. Only when net income is positive.
P/B	0.82x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.82x	Market cap / tangible book value, when positive.
EV/EBIT	0.19x	Enterprise value / operating income, when both are positive.
FCF yield	-22.6%	Free cash flow / market cap.
Earnings yield	11.0%	Net income / market cap (the inverse of P/E).
Shareholder yield	0.5%	(Dividends paid + share buybacks) / market cap.

Was WOORI FINANCIAL GROUP INC. profitable in fiscal 2024?

Yes. Net income was $2.09B, a net margin of -.

How much free cash flow did WOORI FINANCIAL GROUP INC. generate in fiscal 2024?

Cash from operations of $4.15B minus capital expenditures of $150.1M left free cash flow of -$4.30B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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