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Gelecek Varlik Yonetimi AS (GLCVY) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Gelecek Varlik Yonetimi AS stock TRY 10.34, price TRY 32.62, that is 68.3% below the price, quality 76 out of 100. Rating: strongly overvalued. Calculated from audited financials with 7 of our 26 valuation models and 37 quality factors, updated daily.

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Financial Services TR · ISIN TREGVYO00011

GV Gelecek Varlik Yonetimi AS logo Thin data Nov 2, 2026

Gelecek Varlik Yonetimi AS

GLCVY · IS
Very expensive, in a downtrend

Our calculation puts a fair price 68% below what the stock costs today.

Quality 76/100
Solidly profitable · 17.3% net margin (TTM)
Low debt
Mixed Growth (revenue YoY +22.8 %/yr in TRY)
Mixed vs. peers (5/10)
Wide moat 85/100 · thin data
Fair value 10.34 TRY · Strongly overvalued (−68.3%)
Negative free cash flow
Thin data
⚠ Small free float
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

79.53 TRY 8.76 TRY Fair Value 10.34 TRY Oct 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 2, 2026.

How to read this chart

60‑month range 8.76 TRY – 79.53 TRY · fair‑value band 8.46 TRY – 11.64 TRY · the 32.62 TRY price screens above the 10.34 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 2, 2026.

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Company profile

Gelecek Varlik Yönetimi Anonim Sirketi operates as a financial institution in Turkey. It also provides consultancy and brokerage services. The company was incorporated in 2018 and is headquartered in Istanbul, Turkey.

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Gelecek Varlik Yönetimi Anonim Sirketi is a subsidiary of Fiba Holding Anonim Sirketi.

Stock analysis

Gelecek Varlik Yonetimi AS (GLCVY) currently trades at 32.62 TRY, while our model-based Fair Value estimate is 10.34 TRY, 68% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Earnings-Based group reads highest at a median of 10.34 TRY per share, and 0 of the 7 models we run sit above the 32.62 TRY price.

Bear case: the Dividend Discount group reads lowest at 1.88 TRY, and 7 of the 7 models stay below the price. Data coverage for this calculation is low.

Scenario range: 8.46 TRY (bear) to 11.64 TRY (bull), the price of 32.62 TRY sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 76/100 (high quality), in the Financial Services sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Gelecek Varlik Yonetimi AS reported revenue of 629M TRY in FY2021 versus 716M TRY in FY2018, a compound −4.2%/yr. Reported net income was 174M TRY in FY2021, compounding +170.4%/yr from FY2018. FY2018 was a trough year, so the rate overstates the trend.

Key figures

Market cap 4.6B TRY (≈ $90.9M) Micro · P/E ratio 19.7 · P/S ratio 5.43 · EPS (TTM) 1.66 TRY · Net margin 27.7% · Return on equity 39.9% · Return on assets (EBIT) 9.5% (4-year average) · Operating margin 39.1%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 85 out of 100 (low confidence).

What moves the price

The share trades about 59% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −16% fair-value upside, at −68%, GLCVY screens richer than that median.

Fair Value models

The price assumes far more growth than our models allow for, so the models scatter widely (1.88 TRY to 16.18 TRY). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear 8.46 TRY Fair Value 10.34 TRY Bull 11.64 TRY
Price 32.62 TRY · Downside -68.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual Income 5.36 TRY 6.43 TRY 7.93 TRY 73
Gordon GGM 1.78 TRY 1.88 TRY 2.02 TRY 67
Graham-Dodd 8.46 TRY 10.34 TRY 11.64 TRY 65
All 7 models by family
Earnings-Based
Graham-Dodd 8.46 TRY 10.34 TRY 11.64 TRY 65
Dividend Discount
Gordon GGM 1.78 TRY 1.88 TRY 2.02 TRY 67
DDM Multi-Stage 1.78 TRY 1.98 TRY 2.22 TRY 65
Multiples
P/E Multiple 12.14 TRY 16.18 TRY 20.23 TRY 63
P/B Multiple 5.59 TRY 7.45 TRY 9.31 TRY 55
Asset-Based
NCAV (Graham) 4.71 TRY 7.14 TRY 8.92 TRY 54
Economic Profit
Residual Income 5.36 TRY 6.43 TRY 7.93 TRY 73

Open the full fair value analysis →

Quality Score breakdown

Overall quality 76/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 70
How much profit the company makes from its sales and capital
Quality Growth 92
Are margins and returns getting better?
Cashflow 55
Do the profits arrive as real cash?
Financial strength 67
Debt, balance sheet and risk of trouble
Investment 60
Does it invest with discipline instead of growing at any price?
Low Volatility 75
How calm the share price moves, does not count
Price momentum 1
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 3
Distance to the 52-week high, does not count
New shares 90
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 60/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: rate outside our plausibility band
not computed

GLCVY screens overvalued: fair value 68% below the price. Compare with Blackstone Inc →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Asset Management · 591 stocks

Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 76 · Top 25%
Fair Value upside −68.3% · Bottom 25%
Profitability
Return on equity (12 months) 39.9% · Top 25%
Return on assets 12.9% · Top 25%
Net margin (12 months) 17.3% · Below median
Operating margin (12 months) 39.1% · Below median
Growth and dividend
Revenue growth (quarter YoY) 11.7% · Above median
Dividend yield (12 months) 0.0% · Bottom 25%

Valuation Multiplesvs Asset Management median · lower = cheaper

P/E (12 months) 19.7× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 60
FUTURE (revenue growth)59 · sector 38
PAST (return on equity)100 · sector 29
HEALTH (low debt)100 · sector 96
DIVIDEND (yield)0 · sector 81

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Exor N.V EXO €73.35 €139.37 +90% vs GLCVY
Raymond James Financial, Inc RJF $162.81 $281.42 +73% vs GLCVY
Apollo Global Management, Inc APO $116.75 $197.52 +69% vs GLCVY
Ameriprise Financial, Inc AMP $501.49 $609.56 +22% vs GLCVY
State Street Corporation STT $165.56 $139.37 −16% vs GLCVY
Ares Management Corporation ARES $133.98 $99.35 −26% vs GLCVY
Northern Trust Corporation NTRS $172.76 $123.42 −29% vs GLCVY
Blackstone Inc BX $119.50 $52.29 −56% vs GLCVY
Brookfield Corporation BN $41.38 $13.42 −68% vs GLCVY
KKR & Co KKR $96.48 $27.32 −72% vs GLCVY

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Gelecek Varlik Yonetimi AS: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Gelecek Varlik Yonetimi AS Fair Value". https://www.fairvalue-calculator.com/stock/GLCVY

Frequently asked questions

Is Gelecek Varlik Yonetimi AS (GLCVY) overvalued or undervalued?
As of Nov 2, 2026, our model estimates a fair value of 10.34 TRY versus a price of 32.62 TRY, about 68% lower (overvalued).
What is the fair value of GLCVY?
Our model-based fair value for Gelecek Varlik Yonetimi AS is 10.34 TRY (as of Nov 2, 2026), built from audited fundamentals. The current price: 32.62 TRY.
What is the quality score of GLCVY?
Gelecek Varlik Yonetimi AS has a Quality Score of 76/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Gelecek Varlik Yonetimi AS (GLCVY)?
Our model-based price target is the fair value of 10.34 TRY (as of Nov 2, 2026) from 7 valuation models. Cautious scenario 8.46 TRY, optimistic scenario 11.64 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Gelecek Varlik Yonetimi AS stock forecast for 2026?
Our models put fair value at 10.34 TRY, about 68% lower versus a price of 32.62 TRY (overvalued). Cautious scenario 8.46 TRY, optimistic scenario 11.64 TRY. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Gelecek Varlik Yonetimi AS (GLCVY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Gelecek Varlik Yonetimi AS it is 10.34 TRY per share (as of Nov 2, 2026), against a price of 32.62 TRY. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is Gelecek Varlik Yonetimi AS stock overvalued or undervalued in 2026?
As of Nov 2, 2026, GLCVY trades above its calculated fair value: price 32.62 TRY, fair value 10.34 TRY, a gap of about −68% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of GLCVY?
No. The price is what the market pays today (32.62 TRY); the fair value is what the company's own numbers justify (10.34 TRY). For Gelecek Varlik Yonetimi AS the two are 22.28 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Gelecek Varlik Yonetimi AS worth?
The market values Gelecek Varlik Yonetimi AS at about 4.6B TRY (market capitalisation, as of Nov 2, 2026). Per share that is 32.62 TRY; our models calculate a fair value of 10.34 TRY per share.
What do the bullish and bearish scenarios say about GLCVY?
Our models span a range for Gelecek Varlik Yonetimi AS: cautious scenario 8.46 TRY, base 10.34 TRY, optimistic 11.64 TRY per share (as of Nov 2, 2026, price 32.62 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GLCVY?
Gelecek Varlik Yonetimi AS trades at a price-to-earnings ratio of 19.7 (as of Nov 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 10.34 TRY is built from several models across several years.
How solid is the balance sheet of Gelecek Varlik Yonetimi AS (GLCVY)?
Balance-sheet figures for Gelecek Varlik Yonetimi AS (as of Nov 2, 2026): return on equity 39.9%. They feed the Quality Score of 76/100, which measures business quality independently of the share price.
How far is GLCVY from its 52-week high?
Gelecek Varlik Yonetimi AS trades at 32.62 TRY, about 59% below its 52-week high of 79.53 TRY and 9% above the low of 30.02 TRY (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 10.34 TRY is for.
Which stocks are comparable to Gelecek Varlik Yonetimi AS?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Corporation, KKR & Co, Apollo Global Management, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Gelecek Varlik Yonetimi AS stock attractive at the current price?
The data as of Nov 2, 2026: price 32.62 TRY, calculated fair value 10.34 TRY (−68%), Quality Score 76/100, from 7 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of GLCVY calculated?
We run Gelecek Varlik Yonetimi AS through 7 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 10.34 TRY, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 12.7% above its aggregate fair value. Gelecek Varlik Yonetimi AS itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Gelecek Varlik Yonetimi AS (GLCVY)?
The closing price on Nov 6, 2026 was 32.62 TRY. Our model-based fair value is 10.34 TRY, about 68% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Gelecek Varlik Yonetimi AS right now?
A high-quality business (quality 76/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (11.64 TRY). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of Gelecek Varlik Yonetimi AS

How large is the market capitalisation of Gelecek Varlik Yonetimi AS (GLCVY)?
The market capitalisation of Gelecek Varlik Yonetimi AS is 4.6B TRY (≈ $90.9M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Gelecek Varlik Yonetimi AS (GLCVY)?
The price-to-sales ratio of Gelecek Varlik Yonetimi AS is 5.43 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Gelecek Varlik Yonetimi AS (GLCVY)?
Earnings per share at Gelecek Varlik Yonetimi AS are 1.66 TRY (price ÷ EPS = P/E 19.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Gelecek Varlik Yonetimi AS (GLCVY)?
The net margin of Gelecek Varlik Yonetimi AS is 27.7% (fiscal year 2021). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Gelecek Varlik Yonetimi AS (GLCVY)?
The return on equity (ROE) of Gelecek Varlik Yonetimi AS is 39.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Gelecek Varlik Yonetimi AS (GLCVY)?
On an EBIT basis the return on assets of Gelecek Varlik Yonetimi AS is 9.5% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Gelecek Varlik Yonetimi AS (GLCVY)?
The operating margin of Gelecek Varlik Yonetimi AS is 39.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Gelecek Varlik Yonetimi AS (GLCVY)?
Revenue at Gelecek Varlik Yonetimi AS is growing +11.7% versus a year earlier (3y avg −4.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Gelecek Varlik Yonetimi AS (GLCVY)?
Earnings per share at Gelecek Varlik Yonetimi AS are growing −28.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Gelecek Varlik Yonetimi AS (GLCVY) generate?
The free cash flow of Gelecek Varlik Yonetimi AS is −131M TRY (fiscal year 2021). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Gelecek Varlik Yonetimi AS (GLCVY) carry?
The net debt of Gelecek Varlik Yonetimi AS is 363M TRY (fiscal year 2021). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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