Türkiye Kalkinma ve Yatirim Bankasi A.S. (KLNMA) fair value: what the stock is really worth
As of Nov 10, 2026: fair value (intrinsic value) of Türkiye Kalkinma ve Yatirim Bankasi A.S. stock TRY 5.24, price TRY 6.83, that is 23.3% below the price, quality 53 out of 100. Rating: overvalued. Calculated from audited financials with 4 of our 26 valuation models and 37 quality factors, updated daily.
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Türkiye Kalkinma ve Yatirim Bankasi A.S.
KLNMA · ISOur calculation puts a fair price 23% below what the stock costs today.
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69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 11, 2026.
How to read this chart
60‑month range 2.66 TRY – 18.85 TRY · fair‑value band 3.81 TRY – 8.60 TRY · the 6.83 TRY price screens above the 5.24 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 11, 2026.
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Company profile
Türkiye Kalkinma ve Yatirim Bankasi A.S. operates as a development and investment banking company in Türkiye. It operates through Investment Banking, Corporate Banking, and Other segments.
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The company provides financial solutions and banking services to medium and large-scale joint stock company customers, investment loans, project financing, TL and foreign currency-based business loans, letters of credit, and guarantees and collateral.
It also offers treasury and government bonds, repo transactions, capital markets consultancy, transactions, money swaps and forward foreign exchange transactions, capital markets consultancy, financial consultancy, and mergers and acquisition consultancy services.
Additionally, the company provides project funding and corporate loans and development funds. Türkiye Kalkinma ve Yatirim Bankasi A.S. was incorporated in 1975 and is based in Ümraniye, Turkey.
Stock analysis
Türkiye Kalkinma ve Yatirim Bankasi A.S. (KLNMA) currently trades at 6.83 TRY, while our model-based Fair Value estimate is 5.24 TRY, 23% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 8.21 TRY per share, and 1 of the 4 models we run sit above the 6.83 TRY price.
Bear case: the Asset-Based group reads lowest at 2.25 TRY, and 3 of the 4 models stay below the price. Data coverage for this calculation is low.
Scenario range: 3.81 TRY (bear) to 8.60 TRY (bull), the price of 6.83 TRY sits inside 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 53/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Türkiye Kalkinma ve Yatirim Bankasi A.S. reported revenue of 15.0B TRY in FY2025 versus 1.6B TRY in FY2021, a compound +74.7%/yr. Reported net income was 9.0B TRY in FY2025, compounding +82.2%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 68.3B TRY (≈ $1.4B) Small · P/E ratio 683.0 · EPS (TTM) 0.0100 TRY · Net margin 59.8% · Return on equity 29.7% · Return on assets (EBIT) 1.9% (5-year average) · Operating margin 82.3% · Revenue (TTM) 18.5B TRY.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 81 out of 100 (low confidence).
What moves the price
The share trades about 49% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −30% fair-value upside, at −23%, KLNMA screens cheaper than that median.
Fair Value models
All 4 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
KLNMA screens overvalued: fair value 23% below the price. Compare with China Merchants Bank Co →
Compare Türkiye Kalkinma ve Yatirim Bankasi A.S. with another stock
Price, fair value, quality and upside side by side.
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.Banks - Regional · 997 stocks
Valuation Multiplesvs Banks - Regional median · lower = cheaper
Strength profile in five axes (Snowflake)
HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Price/FCF by industry
- Debt-to-equity by industry
- Piotroski F-Score screener with fair value
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Postal Savings Bank of China Co 601658 | ¥5.63 | ¥7.59 | +35% | vs KLNMA |
| China Merchants Bank Co 600036 | ¥43.01 | ¥52.73 | +23% | vs KLNMA |
| BNP Paribas SA BNP | €95.66 | €107.43 | +12% | vs KLNMA |
| Intesa Sanpaolo S.p.A ISP | €6.39 | €4.91 | −23% | vs KLNMA |
| UniCredit S.p.A UCG | €83.55 | €58.08 | −30% | vs KLNMA |
| Oversea-Chinese Banking Corporation O39 | 28.60 SGD | 18.20 SGD | −36% | vs KLNMA |
| Mizuho Financial Group MFG | $9.93 | $5.89 | −41% | vs KLNMA |
| DBS Group D05 | 70.37 SGD | 40.39 SGD | −43% | vs KLNMA |
| HDFC Bank Limited HDFCBANK | ₹798.15 | ₹406.39 | −49% | vs KLNMA |
| ICICI Bank Limited ICICIBANK | ₹1,589 | ₹615.63 | −61% | vs KLNMA |
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Frequently asked questions
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Key figures of Türkiye Kalkinma ve Yatirim Bankasi A.S.
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