Garanti Faktoring AS (GARFA) fair value: what the stock is really worth
As of Sep 22, 2026: fair value of Garanti Faktoring AS TRY 46.97, price TRY 24.76, upside +89.7%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Garanti Faktoring A.S. provides factoring services to industrial and commercial firms. The company offers financing, cash flow management, guarantee, and collection services in selling goods/services; and supplier financing services in buying goods/services. It serves SMEs, and corporations through supplier and dealer networks in Turkey.
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Garanti Faktoring A.S. provides factoring services to industrial and commercial firms. The company offers financing, cash flow management, guarantee, and collection services in selling goods/services; and supplier financing services in buying goods/services. It serves SMEs, and corporations through supplier and dealer networks in Turkey. The company was formerly known as Garanti Faktoring Hizmetleri A.S and changed its name to Garanti Faktoring A.S. in April 2014. Garanti Faktoring A.S. was incorporated in 1990 and is headquartered in Istanbul, Turkey. Garanti Faktoring A.S. is a subsidiary of Turkiye Garanti Bankasi A.S.
Stock analysis
Garanti Faktoring AS (GARFA) currently trades at 24.76 TRY, while our model-based Fair Value estimate is 46.97 TRY, implying the stock looks roughly 47.3% undervalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of 187.55 TRY per share, and 7 of the 10 models we run sit above the 24.76 TRY price.
Bear case: the Growth DCF group reads lowest at 6.63 TRY, and 3 of the 10 models stay below the price. Evidence for this calculation is low.
Scenario range: 32.07 TRY (bear) to 87.08 TRY (bull), the price of 24.76 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 44/100 (below-average quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Garanti Faktoring AS reported revenue of 4.0B TRL in FY2025 versus 284M TRL in FY2021, a compound +93.9%/yr. Reported net income was 2.1B TRL in FY2025, compounding +100.5%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 9.8B TRY (≈ $202M) · P/E ratio 4.1 · P/S ratio 2.17 · EPS (TTM) 6.05 TRY · Net margin 53.0% · Return on equity 48.2% · Return on assets (EBIT) −0.1% · Operating margin 83.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 34% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −39% fair-value upside, at 90%, GARFA screens cheaper than that median.
Fair Value models
Bear 32.07 TRYFair Value 46.97 TRYBull 87.08 TRY
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (4.41 TRY per share) are deliberately not added.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.Evidence ⓘEvidence = 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.
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.77/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+56.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+85.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+80.1%
Revenue growth 25 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−29.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+53.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+53.4%
Dividend (yield on the price)0.0%
Profit margin 2014 to 2019 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.93% → 5%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+30.6%
Yearly growth needed for the next five years to justify today's price.
Price, fair value, quality and upside side by side.
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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.Credit Services · 331 stocks
Beats the industry median on 8/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score41 · Bottom 25%
Fair Value upside+99% · Top 25%
Profitability
Return on equity (TTM)48% · Top 25%
Return on assets7% · Top 25%
Net margin (TTM)63% · Top 25%
Operating margin (TTM)84% · Top 25%
Growth and dividend
Revenue growth40% · Top 25%
Balance sheet
Debt / equity0.02× · Lowest 25%
Valuation Multiplesvs Credit Services median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Garanti Faktoring AS Fair Value". https://www.fairvalue-calculator.com/stock/GARFA
Frequently asked questions
Is Garanti Faktoring AS (GARFA) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of 46.97 TRY versus a price of 24.76 TRY, about +90% upside (undervalued).
What is the fair value of GARFA?
Our model-based fair value for Garanti Faktoring AS is 46.97 TRY (as of Sep 13, 2026), built from audited fundamentals. The current price: 24.76 TRY.
What is the quality score of GARFA?
Garanti Faktoring AS has a Quality Score of 44/100. 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 Garanti Faktoring AS (GARFA)?
Our model-based price target is the fair value of 46.97 TRY (as of Sep 13, 2026) from 10 valuation models. Cautious scenario 32.07 TRY, optimistic scenario 87.08 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Garanti Faktoring AS stock forecast for 2026?
Our models put fair value at 46.97 TRY, about +90% upside versus a price of 24.76 TRY (undervalued). Cautious scenario 32.07 TRY, optimistic scenario 87.08 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Garanti Faktoring AS (GARFA)?
Garanti Faktoring AS reported trailing-twelve-month revenue of about 4.1B TRY (latest available figure, as of Sep 13, 2026).
What growth is priced into Garanti Faktoring AS (GARFA)?
For today's price to be fair in a discounted-cash-flow model, Garanti Faktoring AS would have to grow free cash flow by +30.6 % per year for five years (discount rate 15.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +80.1 % per year. As of Sep 13, 2026.
What discount rate (WACC) does the fair value of GARFA use?
Our models discount Garanti Faktoring AS at 15.7 %: a base by market capitalisation (micro), damped by beta 0.08, country premium for Turkey. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Garanti Faktoring AS that is +30.6 % per year a year over ten years, using the same discount rate (15.7 %) and the same formula as our fair value.
How much growth has Garanti Faktoring AS (GARFA) delivered so far?
Over the past 5 years revenue at Garanti Faktoring AS grew +80.1 % a year. The price currently implies +30.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Garanti Faktoring AS (GARFA) growing?
The median revenue growth in the sector is +8.3 % a year. That is the yardstick for the growth priced into Garanti Faktoring AS (+30.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Garanti Faktoring AS (GARFA)?
The free-cash-flow yield on the price is 4.11 %: that much free cash flow Garanti Faktoring AS produces per unit of market value. When it exceeds the discount rate of our models (15.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Garanti Faktoring AS (GARFA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Garanti Faktoring AS it is 46.97 TRY per share (as of Sep 13, 2026), against a price of 24.76 TRY. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Garanti Faktoring AS stock overvalued or undervalued in 2026?
As of Sep 13, 2026, GARFA trades below its calculated fair value: price 24.76 TRY, fair value 46.97 TRY, a gap of about +90% (undervalued). 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 GARFA?
No. The price is what the market pays today (24.76 TRY); the fair value is what the company's own numbers justify (46.97 TRY). For Garanti Faktoring AS the two are 22.21 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Garanti Faktoring AS worth?
The market values Garanti Faktoring AS at about 9.8B TRY (market capitalisation, as of Sep 13, 2026). Per share that is 24.76 TRY; our models calculate a fair value of 46.97 TRY per share.
What do the bullish and bearish scenarios say about GARFA?
Our models span a range for Garanti Faktoring AS: cautious scenario 32.07 TRY, base 46.97 TRY, optimistic 87.08 TRY per share (as of Sep 13, 2026, price 24.76 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GARFA?
Garanti Faktoring AS trades at a price-to-earnings ratio of 4.1 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 46.97 TRY is built from several models across several years. Other multiples: P/B 2.0, P/S 2.5.
How solid is the balance sheet of Garanti Faktoring AS (GARFA)?
Balance-sheet figures for Garanti Faktoring AS (as of Sep 13, 2026): return on equity 48.2%, debt of 0.02 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is GARFA from its 52-week high?
Garanti Faktoring AS trades at 24.76 TRY, about 34% below its 52-week high of 37.50 TRY and 4% above the low of 23.72 TRY (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of 46.97 TRY is for.
Which stocks are comparable to Garanti Faktoring AS?
From the same area (Financial Services) we also value Visa Inc, Mastercard Incorporated, American Express Company, Capital One Financial Corporation, 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 Garanti Faktoring AS stock attractive at the current price?
The data as of Sep 13, 2026: price 24.76 TRY, calculated fair value 46.97 TRY (+90%), Quality Score 44/100, from 10 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 GARFA calculated?
We run Garanti Faktoring AS through 10 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 46.97 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 16.1 % above its aggregate fair value. Garanti Faktoring AS currently trades 90 % below its own fair value, and the market average says nothing about that. 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 Garanti Faktoring AS (GARFA)?
The closing price on Sep 22, 2026 was 24.76 TRY. Our model-based fair value is 46.97 TRY, about +90% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Garanti Faktoring AS right now?
The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (32.07 TRY). The market is more pessimistic than our downside scenario. The model range is unusually wide (32.07 TRY to 87.08 TRY). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Garanti Faktoring AS
How large is the market capitalisation of Garanti Faktoring AS (GARFA)?
The market capitalisation of Garanti Faktoring AS is 9.8B TRY (≈ $202M). 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 Garanti Faktoring AS (GARFA)?
The price-to-sales ratio of Garanti Faktoring AS is 2.17 (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 Garanti Faktoring AS (GARFA)?
Earnings per share at Garanti Faktoring AS are 6.05 TRY (price ÷ EPS = P/E 4.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Garanti Faktoring AS (GARFA)?
The net margin of Garanti Faktoring AS is 53.0% (fiscal year 2025). 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 Garanti Faktoring AS (GARFA)?
The return on equity (ROE) of Garanti Faktoring AS is 48.2% (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 Garanti Faktoring AS (GARFA)?
On an EBIT basis the return on assets of Garanti Faktoring AS is −0.1% (avg 5y). 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 Garanti Faktoring AS (GARFA)?
The operating margin of Garanti Faktoring AS is 83.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Garanti Faktoring AS (GARFA)?
Revenue at Garanti Faktoring AS is growing +39.8% versus a year earlier (3y avg +85.9%). 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 Garanti Faktoring AS (GARFA)?
Earnings per share at Garanti Faktoring AS are growing +39.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Garanti Faktoring AS (GARFA) carry?
The net debt of Garanti Faktoring AS is 27.5B TRY (fiscal year 2025, ≈ 68.1 yrs of FCF). 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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