Bulls Girisim Sermayesi Yatirim Ortakligi A.S. (BULGS) Fair Value & Analysis
Financial Services · TR · Market cap 10.2B TRY
Fair value as of: Aug 5, 2026
From 24 valuation models · updated today
Share price −5.4% over the past month.
A solid business, screening 100% undervalued on our models.
What matters now
- The price is below even our cautious bear case (57.54 TRY). The market is more pessimistic than our downside scenario.
- Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (17 months)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 5, 2026.
How to read this chart
17‑month range 13.36 TRY – 52.68 TRY · fair‑value band 57.54 TRY – 95.90 TRY · the 38.36 TRY price screens below the 76.72 TRY fair value. Dashed = 300-day average. As of Aug 5, 2026.
Analysis
Bulls Girisim Sermayesi Yatirim Ortakligi A.S. (BULGS) currently trades at 38.36 TRY, while our model-based Fair Value estimate is 76.72 TRY, implying the stock looks roughly 100.0% undervalued today. We read business quality at 50/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Bulls Girisim Sermayesi Yatirim Ortakligi A.S. generated revenue of 1.3B TRY at a net margin of 58.7%. Revenue grew 186.8% year over year. It earns a return on equity of 17.2%. The stock trades on a trailing P/E of 5.3. Fundamentals as of Aug 5, 2026
Our scenario range runs from 57.54 TRY (bear case) to 95.90 TRY (bull case); at 38.36 TRY, the current price sits below that range. The share trades about 32% below its 52-week high and 26% 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 100%, BULGS screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 24 models by family
Widest divergence: Growth Earnings (576.28 TRY) versus Economic Profit (37.46 TRY). Highest evidence: Growth DCF (72).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 5, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 57 · Market factors (momentum, volatility) 29
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Bulls Girisim Sermayesi Yatirim Ortakligi A.S. engages in investment business in Turkey. It offers financial, managerial and structuring support to growth-stage and medium-sized companies. The company was founded in 2021 and is based in Istanbul, Turkey. Bulls Girisim Sermayesi Yatirim Ortakligi A.S. is a subsidiary of Bulls Yatirim Holding A.S.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Bulls Girisim Sermayesi Yatirim Ortakligi A.S. reported revenue of 2.0B TRY in FY2025 versus 61.1M TRY in FY2021, a compound +138.7%/yr. Reported net income was 1.6B TRY in FY2025, compounding +159.2%/yr from FY2021.
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Peer Group
Capital Markets · 447 stocks
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.
Valuation Multiples vs Capital Markets median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Aug 5, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Mirae Asset Securities Co 006800 | 38,750 KRW | 31,645 KRW | -18% |
| Meritz Financial Group 138040 | 117,000 KRW | 87,706 KRW | -25% |
| Korea Investment Holdings 071050 | 239,000 KRW | 318,825 KRW | +33% |
| NH Investment & Securities Co 005940 | 31,000 KRW | 37,133 KRW | +20% |
| Samsung Securities Co 016360 | 107,700 KRW | 126,487 KRW | +17% |
| Motilal Oswal Financial Services Limited MOTILALOFS | ₹967.00 | ₹299.65 | -69% |
| Kiwoom Securities Co 039490 | 322,000 KRW | 358,091 KRW | +11% |
| SSI Securities Corporation SSI | 24,250 VND | 28,021 VND | +16% |
| Bolsas y Mercados Argentinos S.A BYMA | 313.75 ARS | 120.22 ARS | -62% |
| Daishin Securities Co 003540 | 26,200 KRW | 46,660 KRW | +78% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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