Turkiye Sinai Kalkinma Bankasi AS (TSKB) fair value: what the stock is really worth
As of Nov 2, 2026: fair value (intrinsic value) of Turkiye Sinai Kalkinma Bankasi AS stock TRY 17.88, price TRY 9.37, upside +90.8%, quality 58 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Turkiye Sinai Kalkinma Bankasi AS
TSKB · ISThe stock costs 48% less than our calculation considers fair.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Oct 31, 2026.
How to read this chart
60‑month range 1.13 TRY – 13.86 TRY · fair‑value band 13.41 TRY – 22.35 TRY · the 9.37 TRY price screens below the 17.88 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 31, 2026.
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Company profile
Türkiye Sinai Kalkinma Bankasi A.S. operates as a development and investment bank in Turkey.
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The company offers corporate loans for renewable energy, industrial investments, energy and resource efficiency, women's employment and equal opportunity, environmental investments, investments in developing regions, research and development and innovation, occupational health and safety, education and health investments, and working capital financing.
It also provides project finance for energy generation and power plants, including hydroelectric, geothermal, wind, solar, biomass, and combined cycle natural gas plants; electricity and natural gas distribution projects; mergers and acquisitions; logistics, transportation, and telecommunications; and public - private partnership projects.
In addition, the company offers other loan products, such as financial leasing, foreign trade finance, letter of guarantees/external guarantees/letter of credits, export credits / Eximbank aval credits, and country loans.
Further, the company provides corporate finance products and services consisting of public offering preparation and brokerage, debt instrument issues, and mergers and acquisitions advisory; derivatives products comprising forward contracts, options, caps and floors, swap transactions, and swaptions; derivative transactions; brokerage for stock and bonds trading; currency exchange, repo, warrant, and foreign derivative transactions; securities loans; and portfolio management and investment consulting services.
Additionally, it provides financial planning and strategy, feasibility, valuation, and restructuring services, as well as sectoral analysis studies; engineering and technical consultancy services; and financial technical advisory, real estate appraisal, economic research, and sustainability consultancy services.
Türkiye Sinai Kalkinma Bankasi A.S. was incorporated in 1950 and is headquartered in Istanbul, Turkey.
Stock analysis
Turkiye Sinai Kalkinma Bankasi AS (TSKB) currently trades at 9.37 TRY, while our model-based Fair Value estimate is 17.88 TRY, implying the stock looks roughly 47.6% undervalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 21.38 TRY per share, and 4 of the 4 models we run sit above the 9.37 TRY price.
Bear case: the Asset-Based group reads lowest at 10.93 TRY, and 0 of the 4 models stay below the price. Data coverage for this calculation is low.
Scenario range: 13.41 TRY (bear) to 22.35 TRY (bull), the price of 9.37 TRY sits below 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 58/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Turkiye Sinai Kalkinma Bankasi AS reported revenue of 21.1B TRL in FY2025 versus 3.5B TRL in FY2021, a compound +56.1%/yr. Reported net income was 11.3B TRL in FY2025, compounding +79.9%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 26.2B TRY (≈ $525M) Small · P/E ratio 2.5 · P/S ratio 1.41 · EPS (TTM) 3.81 TRY · Dividend yield 5.7% · Net margin 57.2% · Return on equity 23.7% · Return on assets (EBIT) 2.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 74 out of 100 (medium confidence).
What moves the price
The share trades about 32% 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 −32% fair-value upside, at 91%, TSKB 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
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Compare Turkiye Sinai Kalkinma Bankasi AS 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 · 1001 stocks
Valuation Multiplesvs Banks - Regional median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Return on equity by industry
- Quality Score 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 |
|---|---|---|---|---|
| China Merchants Bank Co 600036 | ¥43.18 | ¥52.73 | +22% | vs TSKB |
| BNP Paribas SA BNP | €87.04 | €106.01 | +22% | vs TSKB |
| Itaú Unibanco Holding ITUB | $7.17 | $6.90 | −4% | vs TSKB |
| Intesa Sanpaolo S.p.A ISP | €5.95 | €4.53 | −24% | vs TSKB |
| UniCredit S.p.A UCG | €74.40 | €50.44 | −32% | vs TSKB |
| Oversea-Chinese Banking Corporation O39 | 28.32 SGD | 18.20 SGD | −36% | vs TSKB |
| Mizuho Financial Group MFG | $9.61 | $5.92 | −38% | vs TSKB |
| HDFC Bank Limited HDFCBANK | ₹700.00 | ₹406.39 | −42% | vs TSKB |
| DBS Group D05 | 71.71 SGD | 40.39 SGD | −44% | vs TSKB |
| ICICI Bank Limited ICICIBANK | ₹1,387 | ₹615.63 | −56% | vs TSKB |
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Key figures of Turkiye Sinai Kalkinma Bankasi AS
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