Samsung Card is a consumer-finance company that makes its money mainly from the credit-card payments business. Its revenue comes from merchant fees earned when customers pay, interest income from card loans, cash advances, and revolving balances, and installment financing and leasing; it raises funds through corporate bonds and ABS, lends them out, and earns a margin on the gap between its funding cost and its lending rate. At the regular shareholders' meeting it confirmed a cash dividend of about ₩298.8 billion (₩2,800 per share), keeping the payout ratio around 46% and signaling a medium-to-long-term direction toward a 50% shareholder-return ratio, and in June 2026 it merged the Samsung Card app into Samsung's integrated financial-affiliate platform "Monimo." The points to weigh are the strengths: a P/B of 0.62x, a P/E in the 8x range, a dividend yield in the 5% range with a 46% payout ratio, and best-in-class asset quality give it a clear profile as a "cheap yet stable dividend financial stock." Against that, profit growth is not explosive, so the re-valuation driver leans on dividends and asset quality, and a rise in funding costs or delinquency rates could worsen both margins and credit costs.
At-a-glance assessment financial health · growth · profitability · valuation
- For financial companies, debt and interest costs are large by the nature of the business, so the debt ratio and interest coverage cannot be read on the same yardstick as an ordinary company.
- ROE is 7.3% (total-net basis). It is above the sector average.
- The forward P/E sits below the sector median.
Ownership & governance As of 2025-12-31
Largest shareholder Samsung Life Insurance 71.86% (corporate)
Controlling bloc incl. related parties 71.86%
With the controlling bloc holding 72%, control is very secure but the free float is thin.
🔎 In-depth analysis
- Samsung Card is a consumer-finance company that makes its money mainly from the credit-card payments business.
- Its revenue comes from three broad streams.
- First, merchant fees earned from merchants when a customer pays by card.
- Second, interest income from card lending such as card loans (longer-term loans), cash advances (short-term loans), and revolving balances, which is the largest actual contributor to profit.
- Third, installment financing and leasing tied to purchases of cars and durable goods.
- Rather than using its own money, it raises funds through corporate bonds and ABS (asset-backed securities), lends them to customers, and earns a margin from the gap between its funding rate and its lending rate plus fees.
- The key variables driving profit are therefore funding cost (market interest rates) and delinquency (the risk of not being repaid).
- Samsung Group companies such as Samsung Electronics and Samsung Life Insurance are major shareholders, and in June 2026 the company merged the Samsung Card app into Samsung's integrated financial-affiliate platform "Monimo," giving it a sales base linked to Samsung's financial network.
- The recent close is ₩51,700 and the market cap is ₩6.0 trillion.
- The price sits above the 20-day line (₩48,772) and above the 60-day line (₩49,757).
- Trading above both its short- and medium-term moving averages, the trend is on the healthy side.
- The RSI (a gauge that scores upward versus downward force over the past 14 days on a 0-100 scale) is 61.4, a neutral level.
- The one-month change is +11.9%, the three-month change is -2.5%, and the position versus the 52-week high is -23.3%.
- Relative strength against the KOSPI is 30 (on a 1-99 scale that weights recent returns versus the index over the past year more heavily; higher means stronger than the market).
- That places it in roughly the top 71% of all stocks by strength.
- Over the past three months it lagged the index by 22.3%.
- It is best to read the chart alongside trading volume and the dates of disclosures.
- The P/E ratio (how many times one year's earnings the share price represents) is 9.27x and the P/B (how many times book net assets the share price represents) is 0.68x, so it trades below net assets.
- ROE (how much it earns in a year on equity) is 7.3%, which is not flashy but reflects the stable profitability of consumer finance.
- The debt ratio (debt against equity) of 363% looks high, but this is the normal structure of a financial business that raises other people's money and puts it to work in loans, and it should not be judged by manufacturing standards.
- What matters more is asset quality: the company maintains one of the industry's lowest substandard-and-below loan ratios and a high adjusted-capital ratio, so its credit-loss risk management is solid.
- With a dividend yield of 5.9% (dividend per share ₩2,800) and a payout ratio of about 46%, returning roughly half of profit to shareholders, its high-dividend character is clear.
- Earnings are not the fast-growing type but a gradual up-and-down type.
- Net profit went from ₩609.4 billion in 2023 to ₩664.6 billion in 2024 (+9.1%) to ₩645.9 billion in 2025 (-2.8%), holding the ₩600 billion range even amid rising funding costs and softening consumption.
- Q1 2026 net profit fell year on year, reflecting the burden of funding costs under high rates and conservative loss provisioning.
- Still, as asset quality across the card industry improves, earnings have room to stabilize as the year progresses, and Samsung Card's defensive strength is good thanks to best-in-class delinquency management.
- Reflecting this stable earnings base, net profit this year should comfortably come in around the low-to-mid ₩600 billion range, and the forward P/E in the high-8x range is almost the same as the current trailing (last year's confirmed) P/E.
- In other words, this should be read not as a growth stock with an earnings inflection but as a mature financial stock with steady earnings.
- Recent disclosures center on funding, shareholder returns, and governance rather than growth events.
- At the regular shareholders' meeting the company confirmed a cash dividend of about ₩298.8 billion (₩2,800 per share), keeping the payout ratio around 46%, and signaled a direction to raise the shareholder-return ratio to 50% over the medium to long term.
- On the funding side, corporate-bond and ABS issuance under shelf registration appears repeatedly, which is normal operating activity for a card company raising loan funds.
- It also merged the Samsung Card app into the Samsung integrated financial-affiliate app "Monimo," joining the group's digital-platform strategy.
- The strengths are clear.
- A P/B of 0.62x below net assets, a low P/E in the 8x range, a dividend yield in the 5% range with a stable 46% payout ratio, and best-in-class asset quality together give it a clear profile as a "cheap yet stable dividend financial stock." The cautions are equally clear.
- Because profit growth is not explosive, the driver for a re-valuation of the stock leans heavily on maintaining dividends and asset quality.
- If funding costs rise again or delinquency climbs as consumption softens, card-loan margins and credit costs could worsen together, and if additional returns such as buybacks and cancellations beyond dividends are slow to be carried out, the resolution of the undervaluation could be delayed.
- In short, this is a stock whose undervalued, high-dividend appeal comes alive when rates stabilize and consumer soundness holds, and which focuses on defending profit in phases of rising rates and worsening delinquency.
🔎 Valuation vs peers Undervalued
Large domestic listed financial stocks with a low-P/B, high-dividend character such as banks and financial holding companies (since unlisted card companies cannot be directly compared, listed financial stocks are used as substitutes).
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Hana Financial Group | 8.40x | 0.75x | 8.98% |
| Woori Financial Group | 7.06x | 0.61x | 8.67% |
| Industrial Bank of Korea | 6.03x | 0.45x | 7.44% |
| DB Insurance | 5.37x | 0.88x | 16.43% |
The P/B of 0.62x is at the low end among comparable financial stocks (Hana Financial 0.72, Woori Financial 0.60, DB Insurance 0.82), and the P/E of 8.5x is also below the market average. As a mature financial stock with no earnings inflection, the trailing (last year's confirmed) P/E and the forward P/E are almost the same in the high-8x range, so the low P/E is not a temporary illusion but close to genuine undervaluation. Add a dividend yield in the 5% range and best-in-class asset quality, and the stability relative to valuation stands out. That said, with ROE not high in the 7% range, this is better seen as an undervaluation resolution supported by dividends and asset quality than as a sharp re-valuation.
Price history Close · MA20 · MA60
The latest close is ₩51,700 and the market capitalization is ₩6.0 trillion. The price sits above its 20-day moving average (₩48,772) and above its 60-day moving average (₩49,757). It holds above both its short- and medium-term moving averages, so the trend looks healthy. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 61.4, a neutral level. The one-month change is +11.9%, the three-month change is -2.5%, and the position relative to the 52-week high is -23.3%. Relative strength versus the KOSPI is 30 (on a 1-99 scale, converted from returns against the index over the past year with more weight on recent performance; higher means stronger than the market). It is stronger than roughly 29% of all stocks. Over the past three months it lagged the index by 22.3%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Relative performance stock vs index · start = 100
Excess return vs index · 3M -22.32% / 6M -40.58% / 12M -57.10%
Key metrics vs whole-market median
Valuation
The P/E of 9.27x is below the whole-market median (13.81x). The P/B of 0.68x is below the whole-market median (1.15x). Both metrics are low versus peers, so the price is not expensive relative to earnings and assets.
Profitability & financials
Return on equity (ROE) is 7.3%, above the whole-market average (5.0%). The debt ratio is 363.0%, but for financial firms deposits and insurance liabilities count as debt, so it cannot be read on the same yardstick as an ordinary company.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| Operating profit | $536.9M | $586.8M | $565.8M | -3.58% ↓ slower |
| Net profit | $403.9M | $440.5M | $428.1M | -2.81% ↓ slower |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| Operating profit | — | — | $536.9M | $586.8M | $565.8M |
| Net profit | — | — | $403.9M | $440.5M | $428.1M |
Operating profit fell 3.6% year over year. The decline widened.
Latest quarterly results
No recent quarterly results confirmed from DART.
Technical indicators
What stands out
- P/E and P/B are both low versus peers, so the price looks inexpensive relative to earnings and assets.
- The dividend yield, at 5.4%, is on the high side.
Points to watch
- The figures shown are based on the last annual report as of the writing date, so it is best to review the latest quarterly results and filings alongside them.
Recent news & events searched · sourced
- 2026-06-01FilingLarge business group status disclosure (annual and Q1 versions) — routine reporting of Samsung Group affiliate and governance statusConfirms the ownership structure of major shareholders such as Samsung Electronics and Samsung Life Insurance. Not a signal of governance change but a routine disclosure. Source
- 2026-06-05FilingClarification of rumor or media report (undetermined) — the company's position on rumors and reports circulating in the marketA potential near-term source of price volatility, but since it is not a confirmed matter the direct impact on results and fundamentals is limited. Source
- 2026-06-04FilingProspectus (shelf registration) and additional shelf-registration filings — funding procedures for issuing bonds such as corporate bonds and ABSNormal operating activity to raise loan funds. The level of funding rates affects future card-loan margins. Source
- 2026-06-05FilingSecurities issuance performance report — reports that the previously registered bond issuance has actually been completedConfirms normal execution of the funding plan. Suggests that fundraising is proceeding smoothly. Source
- 2026-06-28IRMerged the Samsung Card app into Samsung's integrated financial-affiliate platform "Monimo"Joins the group's digital-platform strategy. A factor strengthening the medium-to-long-term basis for customer touchpoints and cross-selling. Source
Figure cross-check computed ↔ external
Recent filings
- 2026-06-09OwnershipOfficers'/major-shareholders' holdings report
- 2026-06-09OwnershipOfficers'/major-shareholders' holdings report
- 2026-06-09OwnershipLargest-shareholder ownership change report
- 2026-06-05Earnings disclosure
- 2026-06-05Disclosure
- 2026-06-04Disclosure
- 2026-06-04Disclosure
- 2026-06-01Large-business-group status disclosure
- 2026-05-28Earnings disclosure
- 2026-05-27Disclosure
- 2026-05-27Disclosure
- 2026-05-27Disclosure
📖 Plain-language glossary — expand if you are new to this
- P/E
- How many times a year's net profit the price is worth (lower is cheaper relative to earnings). The P/E here is on trailing (last full-year) results; for companies whose earnings swing fast (memory chips and other cyclicals/high-growth), a forward P/E on this year's expected earnings is more accurate.
- P/B
- Price relative to net assets (equity). Around 1x means it trades near book value; below 1x means below book.
- P/S
- Price relative to a year's revenue — useful for growth companies with thin earnings.
- Net debt / EV
- Net debt = interest-bearing debt − cash. Negative means more cash than debt (net cash). EV (enterprise value) = market cap + net debt, closer to what it would cost to buy the whole business.
- EV/EBIT · EV/EBITDA · EV/Sales
- Enterprise value against operating profit (EBIT), EBITDA, or revenue. Unlike P/E these reflect debt and cash; lower is cheaper relative to earnings power or sales.
- FCF / FCF yield
- Free cash flow = operating cash − capex, the cash actually left over. FCF yield = FCF ÷ market cap; higher means more cash generated per unit of market value.
- Intrinsic value (DCF)
- Future free cash flow (or, for some capex-heavy but profitable names, forecast earnings) discounted to today to estimate per-share value. Because it shifts a lot with the discount-rate and growth assumptions, it is shown as a bear/base/bull range, and the basis and assumptions are disclosed in one line beneath it.
- ROE
- How much profit the company earns in a year on its equity (%). Higher means better returns on capital.
- EPS / BPS
- Earnings per share / net assets (book value) per share.
- Operating / net margin
- Profit left from the core business / final profit after tax and interest, per unit of revenue.
- Debt ratio
- Debt relative to equity (%). Higher means more reliance on borrowing (norms vary by sector).
- Current ratio
- Assets convertible to cash within a year against debt due within a year. Above 100% leaves some short-term headroom.
- Interest coverage
- How many times operating profit covers the interest owed. Below 1x means operating profit alone struggles to cover interest.
- Dividend yield / payout ratio
- The year's dividend as a % of today's price / the share of earnings paid out as dividends.
- Revenue CAGR
- Multi-year growth expressed as a single yearly average (compound annual growth rate).
- RSI (short-term signal)
- Whether recent price action is overheated or beaten down. Above 70 is overbought, below 30 oversold.
- MA20 / MA60 (moving averages)
- The 20- and 60-day average price. Price above them signals a firmer short-term trend.
- vs 52-week high
- How far below the past year's peak the price sits now (%).
All figures are for reference only; how they read varies by sector and over time.
Sources: Korea FSC market-price API (data.go.kr), OpenDART, KRX/KIND — public data only.
Bong Stocks presents public-data-based information for reference only. It is not investment advice and contains no target prices, ratings, or buy/sell recommendations. Verify independently before making any decision.