Detailed financial statements for KB Financial Group Inc. (KB): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year: ten fiscal years free and up to 20 with Premium.
KB Financial Group Inc. is a prominent financial conglomerate offering a diverse array of banking and associated financial services to both individual consumers and corporate entities, both domestically in South Korea and across international markets.
Analysis Summary
KB Financial Group Inc. reported revenue of 50.69T KRW in the most recent fiscal year, growing at a 5-year CAGR of 20.7%. Net income reached 5.85T KRW, with a 11.0% 5-year CAGR.
Trailing-twelve-month margins: gross margin 54.6%, operating margin 20.2%, net margin 14.1%.
At $112.50 (closing price, October 29, 2026), KB trades at a P/E of 8.55 and an ROE of 11.06%. Market capitalisation stands at $39.8B, placing it among large-cap names.
Balance sheet quality for KB: current ratio of 0.0. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Cash flow quality is below average: free cash flow of 3.67T KRW represents 63% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 12.20T KRW | 15.14T KRW | 17.33T KRW | 18.66T KRW | 19.81T KRW | 20.97T KRW | 25.64T KRW | 36.41T KRW | 37.77T KRW | 50.69T KRW |
| Cost of Revenue | 4.16T KRW | 4.22T KRW | 5.50T KRW | 6.11T KRW | 5.81T KRW | 5.17T KRW | 11.08T KRW | 20.11T KRW | 19.71T KRW | 25.82T KRW |
| Gross Profit | 8.04T KRW | 10.92T KRW | 11.82T KRW | 12.54T KRW | 14.01T KRW | 15.81T KRW | 14.56T KRW | 16.30T KRW | 18.06T KRW | 24.86T KRW |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | 4.67T KRW | 4.87T KRW | 5.07T KRW | 5.69T KRW | 5.82T KRW | 6.30T KRW | 5.82T KRW | 5.85T KRW | 6.08T KRW | 7.05T KRW |
| Operating Expenses | 5.42T KRW | 6.78T KRW | 7.52T KRW | 8.01T KRW | 9.23T KRW | 9.73T KRW | 9.17T KRW | 10.18T KRW | 11.07T KRW | 16.33T KRW |
| Operating Income | 2.63T KRW | 4.14T KRW | 4.30T KRW | 4.53T KRW | 4.78T KRW | 6.08T KRW | 5.39T KRW | 6.12T KRW | 6.99T KRW | 8.53T KRW |
| EBITDA | 2.92T KRW | 4.69T KRW | 4.93T KRW | 5.51T KRW | 5.83T KRW | 7.09T KRW | 6.27T KRW | 6.99T KRW | 7.90T KRW | 9.45T KRW |
| Interest Expense | 3.62T KRW | 3.67T KRW | 4.83T KRW | 5.44T KRW | 4.76T KRW | 3.98T KRW | 9.24T KRW | 16.96T KRW | 17.66T KRW | 13.07T KRW |
| Pre-tax Income | 2.63T KRW | 4.14T KRW | 4.30T KRW | 4.53T KRW | 4.78T KRW | 6.08T KRW | 5.39T KRW | 6.12T KRW | 6.99T KRW | 8.20T KRW |
| Income Tax | 438.48B KRW | 794.96B KRW | 1.24T KRW | 1.22T KRW | 1.26T KRW | 1.70T KRW | 1.50T KRW | 1.59T KRW | 1.96T KRW | 2.35T KRW |
| Net Income | 2.14T KRW | 3.31T KRW | 3.06T KRW | 3.31T KRW | 3.47T KRW | 4.41T KRW | 4.11T KRW | 4.59T KRW | 5.08T KRW | 5.85T KRW |
| EPS | $5,588.00 | $8,305.00 | $7,720.53 | $8,450.65 | $8,843.13 | $11,133.00 | $10,334.00 | $11,483.00 | $12,880.00 | $15,437.00 |
| EPS (Diluted) | $5,559.00 | $8,257.00 | $7,675.86 | $8,388.65 | $8,730.36 | $10,889.00 | $10,099.00 | $11,217.00 | $12,725.00 | $15,287.00 |
| Shares Outstanding (Diluted) | 385.6 M | 401.0 M | 398.8 M | 394.0 M | 394.8 M | 398.6 M | 398.9 M | 393.3 M | 383.4 M | 382.2 M |
Income Statement (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Revenue | 8.89T KRW | 22.69T KRW | 9.59T KRW | 11.58T KRW |
| Gross Profit | 4.67T KRW | 10.77T KRW | 5.27T KRW | 6.86T KRW |
| Operating Income | 2.26T KRW | 1.62T KRW | 2.63T KRW | 2.71T KRW |
| EBITDA | 2.49T KRW | 1.86T KRW | 2.85T KRW | 2.73T KRW |
| Net Income | 1.69T KRW | 721.24B KRW | 1.89T KRW | 2.01T KRW |
| EPS | $4,458.00 | $1,907.00 | $5,165.00 | $5,733.72 |
| EPS (Diluted) | $4,458.00 | $1,880.00 | $5,120.00 | $5,733.72 |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | 19.12T KRW | 21.03T KRW | 21.46T KRW | 21.99T KRW | 26.71T KRW | 31.68T KRW | 32.47T KRW | 30.79T KRW | 30.79T KRW | 0 |
| Short-term Investments | 0 | 0 | 0 | 46.06T KRW | 61.83T KRW | 60.38T KRW | 79.53T KRW | 82.50T KRW | 93.90T KRW | 0 |
| Receivables | 5.72T KRW | 8.05T KRW | 6.45T KRW | 7.47T KRW | 12.47T KRW | 98.80B KRW | 204.69B KRW | 14.44T KRW | 12.57T KRW | 0 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 25.02T KRW | 29.24T KRW | 28.12T KRW | 75.72T KRW | 101.26T KRW | 92.41T KRW | 112.68T KRW | 128.36T KRW | 137.91T KRW | 0 |
| Property, Plant & Equipment | 3.63T KRW | 4.20T KRW | 4.27T KRW | 5.07T KRW | 5.43T KRW | 5.24T KRW | 4.99T KRW | 4.95T KRW | 5.39T KRW | 0 |
| Goodwill | 331.71B KRW | 273.45B KRW | 275.22B KRW | 275.74B KRW | 763.58B KRW | 806.41B KRW | 845.15B KRW | 866.97B KRW | 874.05B KRW | 0 |
| Intangible Assets | 320.61B KRW | 2.67T KRW | 2.48T KRW | 2.46T KRW | 2.59T KRW | 980.40B KRW | 1.01T KRW | 1.08T KRW | 1.09T KRW | 0 |
| Total Assets | 375.67T KRW | 436.79T KRW | 479.59T KRW | 518.54T KRW | 610.72T KRW | 655.71T KRW | 688.65T KRW | 715.73T KRW | 757.85T KRW | 0 |
| Accounts Payable | 19.08B KRW | 21.77B KRW | 25.83B KRW | 27.55B KRW | 31.18B KRW | 33.97B KRW | 35.26B KRW | 36.01B KRW | 36.12B KRW | 0 |
| Short-term Debt | 11.77T KRW | 11.97T KRW | 13.04T KRW | 13.02T KRW | 16.33T KRW | 14.37T KRW | 11.77T KRW | 15.65T KRW | 12.80T KRW | 0 |
| Total Current Liabilities | 267.21T KRW | 283.91T KRW | 309.58T KRW | 325.94T KRW | 361.68T KRW | 407.12T KRW | 422.79T KRW | 427.62T KRW | 453.01T KRW | 0 |
| Long-term Debt | 52.42T KRW | 63.14T KRW | 72.67T KRW | 73.09T KRW | 89.79T KRW | 124.34T KRW | 140.42T KRW | 120.80T KRW | 127.00T KRW | 0 |
| Total Liabilities | 344.41T KRW | 402.74T KRW | 443.88T KRW | 479.42T KRW | 567.32T KRW | 606.35T KRW | 634.85T KRW | 657.09T KRW | 698.03T KRW | -61.37T KRW |
| Retained Earnings | 12.23T KRW | 15.04T KRW | 17.28T KRW | 19.71T KRW | 22.54T KRW | 26.42T KRW | 28.89T KRW | 31.93T KRW | 34.81T KRW | 0 |
| Total Equity | 31.00T KRW | 34.04T KRW | 35.70T KRW | 38.53T KRW | 42.54T KRW | 48.53T KRW | 52.52T KRW | 56.69T KRW | 57.89T KRW | 61.37T KRW |
| Total Debt | 64.19T KRW | 75.12T KRW | 85.71T KRW | 86.65T KRW | 106.68T KRW | 139.30T KRW | 152.78T KRW | 137.04T KRW | 140.77T KRW | 0 |
| Net Debt | 45.07T KRW | 54.08T KRW | 64.25T KRW | 18.60T KRW | 18.15T KRW | 47.24T KRW | 40.77T KRW | 23.76T KRW | 16.08T KRW | 0 |
| Working Capital | -242.19T KRW | -254.67T KRW | -281.46T KRW | -250.22T KRW | -260.42T KRW | -314.71T KRW | -310.10T KRW | -299.27T KRW | -315.09T KRW | 0 |
Balance Sheet (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Cash & Equivalents | 25.27T KRW | 0 | 20.38T KRW | 0 |
| Total Assets | 796.06T KRW | 0 | 817.61T KRW | 866.89T KRW |
| Total Liabilities | 734.69T KRW | -61.37T KRW | 761.25T KRW | 804.19T KRW |
| Total Equity | 59.58T KRW | 61.37T KRW | 54.60T KRW | 60.89T KRW |
| Total Debt | 141.42T KRW | 0 | 153.47T KRW | 158.37T KRW |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 2.19T KRW | 3.34T KRW | 3.06T KRW | 3.31T KRW | 3.52T KRW | 4.38T KRW | 3.89T KRW | 4.53T KRW | 5.03T KRW | 5.84T KRW |
| Depreciation & Amortization | 289.44B KRW | 550.34B KRW | 623.63B KRW | 976.89B KRW | 1.05T KRW | 1.01T KRW | 878.84B KRW | 865.93B KRW | 916.29B KRW | 914.69B KRW |
| Stock-based Compensation | 38.19B KRW | 73.37B KRW | 10.93B KRW | 49.42B KRW | 49.36B KRW | 101.94B KRW | 58.27B KRW | 69.70B KRW | 140.45B KRW | 153.88B KRW |
| Change in Working Capital | -2.43T KRW | -11.42T KRW | -15.32T KRW | 2.68T KRW | -16.73T KRW | -11.96T KRW | 2.90T KRW | 1.80T KRW | 3.09T KRW | 4.97T KRW |
| Operating Cash Flow | 1.12T KRW | -4.84T KRW | -8.96T KRW | 9.40T KRW | -8.41T KRW | -2.03T KRW | 4.76T KRW | 4.11T KRW | 4.02T KRW | 4.23T KRW |
| Capital Expenditure | -508.76B KRW | -410.26B KRW | -578.43B KRW | -942.29B KRW | -607.72B KRW | -478.31B KRW | -497.47B KRW | -680.57B KRW | -626.91B KRW | -554.97B KRW |
| Acquisitions | 95.30B KRW | -405.82B KRW | 188.14B KRW | 91.59B KRW | -1.95T KRW | 374.99B KRW | 932.43B KRW | 1.30T KRW | 88.53B KRW | -264.87B KRW |
| Stock Repurchased | -716.81B KRW | -185.53B KRW | -224.70B KRW | -274.32B KRW | 0 | 0 | 0 | -571.75B KRW | -820.00B KRW | -1.50T KRW |
| Dividends Paid | -378.62B KRW | -497.97B KRW | -766.73B KRW | -766.25B KRW | -883.95B KRW | -981.88B KRW | -1.44T KRW | -1.15T KRW | -1.49T KRW | -1.30T KRW |
| Free Cash Flow | 616.23B KRW | -5.25T KRW | -9.54T KRW | 8.46T KRW | -9.02T KRW | -2.50T KRW | 4.26T KRW | 3.43T KRW | 3.39T KRW | 3.67T KRW |
Cash Flow (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Operating Cash Flow | -11.94T KRW | 7.43T KRW | 1.55T KRW | -11.41T KRW |
| Capital Expenditure | -21.91B KRW | -218.77B KRW | -83.91B KRW | -56.04B KRW |
| Free Cash Flow | -11.96T KRW | 7.21T KRW | 1.46T KRW | -11.47T KRW |
| Dividends Paid | -385.66B KRW | -335.02B KRW | 0 | -1.02T KRW |
| Stock-based Compensation | 29.40B KRW | 42.78B KRW | 33.75B KRW | -33.75B KRW |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | +24.0% | +14.5% | +7.7% | +6.2% | +5.9% | +22.3% | +42.0% | +3.7% | +34.2% | |
| Net Income Growth (YoY) | +54.5% | -7.6% | +8.2% | +4.7% | +27.1% | -6.7% | +11.7% | +10.5% | +15.2% | |
| EPS Growth (YoY) | +48.6% | -7.0% | +9.5% | +4.6% | +25.9% | -7.2% | +11.1% | +12.2% | +19.9% | |
| Shares Change (YoY) | +4.0% | -0.6% | -1.2% | +0.2% | +1.0% | +0.1% | -1.4% | -2.5% | -0.3% | |
| FCF Growth (YoY) | -951.4% | -81.8% | +188.7% | -206.6% | +72.2% | +270.3% | -19.6% | -1.0% | +8.2% | |
| Gross Margin | 65.9% | 72.1% | 68.2% | 67.2% | 70.7% | 75.4% | 56.8% | 44.8% | 47.8% | 49.1% |
| Operating Margin | 21.5% | 27.3% | 24.8% | 24.3% | 24.1% | 29.0% | 21.0% | 16.8% | 18.5% | 16.8% |
| EBITDA Margin | 23.9% | 31.0% | 28.4% | 29.5% | 29.4% | 33.8% | 24.5% | 19.2% | 20.9% | 18.6% |
| Net Margin | 17.6% | 21.9% | 17.7% | 17.7% | 17.5% | 21.0% | 16.0% | 12.6% | 13.4% | 11.5% |
| FCF Margin | 5.1% | -34.7% | -55.0% | 45.3% | -45.5% | -11.9% | 16.6% | 9.4% | 9.0% | 7.2% |
| Effective Tax Rate | 16.7% | 19.2% | 28.8% | 26.9% | 26.5% | 27.9% | 27.9% | 26.0% | 28.0% | 28.6% |
Per-Share Data (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $1,597.96 | $-13,081.57 | $-23,911.38 | $21,466.85 | $-22,846.07 | $-6,281.55 | $10,685.84 | $8,715.97 | $8,851.23 | $9,605.54 |
| Dividends Per Share | $981.83 | $1,241.68 | $1,922.55 | $1,944.69 | $2,239.22 | $2,463.44 | $3,603.92 | $2,928.58 | $3,878.72 | $3,407.19 |
| Shares Outstanding (Basic) | 383.6 M | 398.7 M | 396.5 M | 391.1 M | 389.6 M | 389.6 M | 389.6 M | 384.0 M | 378.8 M | 378.5 M |
What to look at in Banking companies
- Efficiency Ratio (<=55%) — Operating expenses / revenue. Top banks below 55%.
- ROA (>=1%) — How much they earn per dollar of assets. ROE misleads in banks due to leverage.
- ROTCE (>=12%) — Return on Tangible Common Equity. Strips goodwill and intangibles.
- Equity / Assets (Tier 1 proxy) (>=8%) — Capital ratio proxy. Regulatory Tier 1 is not in our data.
- P/B (1.0-1.5x) — Classic banking metric. <1x can be opportunity or distress.
- Sustainable dividend yield (>=2%, <8%) — EU banks pay 5-7% normally. >8% is distress signal.
Profitability
| Return on Equity | 11.06% |
| Return on Invested Capital | 0.79% |
| Return on Assets | 0.75% |
| Gross Margin | 54.63% |
| Operating Margin | 20.15% |
| Net Margin | 14.15% |
Financial Health
| Debt / Equity | 2.60 |
| Current Ratio | 0.00 |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 7.62 | 7.61 | 6.05 | 5.65 | 4.86 | 4.93 | 4.70 | 4.58 | 6.51 | 8.03 |
| P/B | 0.53 | 0.74 | 0.52 | 0.48 | 0.39 | 0.44 | 0.36 | 0.36 | 0.55 | 0.76 |
| P/S | 1.34 | 1.67 | 1.07 | 1.00 | 0.85 | 1.02 | 0.74 | 0.56 | 0.84 | 0.93 |
| Gross Margin | 65.9% | 72.1% | 68.2% | 67.2% | 70.7% | 75.4% | 56.8% | 44.8% | 47.8% | 49.1% |
| Operating Margin | 21.5% | 27.3% | 24.8% | 24.3% | 24.1% | 29.0% | 21.0% | 16.8% | 18.5% | 16.8% |
| Net Margin | 17.6% | 21.9% | 17.7% | 17.7% | 17.5% | 21.0% | 16.0% | 12.6% | 13.4% | 11.5% |
Related companies: 0O84.L · MFG · HDB · IBN · SBID.L · USB · PNC · 0LHY.L
Explore sector: Financial Services · Banks - Regional
More sections of KB: Overview · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
Discover more: Weekly Radar: the S&P 500 through the Buffett and Lynch methods · Companies that pass the Buffett method today · Companies that pass the Lynch method today · Stocks that pass Graham's defensive investor test today · Investment Academy — learn to analyze stocks