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Global Menkul Degerler AS (GLBMD) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Global Menkul Degerler AS stock TRY 6.26, price TRY 7.45, that is 16.0% below the price, quality 34 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Financial Services TR · ISIN TREGLMK00015

GM Global Menkul Degerler AS logo Thin data Nov 10, 2026

Global Menkul Degerler AS

GLBMD · IS
Expensive, weak quality

Our calculation puts a fair price 16% below what the stock costs today.

Last quarter vs. a year ago: revenue +30%, profit +59%.
Expensive Growth (revenue 5y +20.6 %/yr in TRY)
Fair value 6.26 TRY · Overvalued
Quality 34/100
Loss-making · -0.3% net margin (TTM)
Trails peers (3/10)
Narrow moat 11/100 · thin data
Thin data
Estimate
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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

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Price vs Fair Value

16.98 TRY 1.82 TRY Fair Value 6.26 TRY Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range 1.82 TRY – 16.98 TRY · fair‑value band 4.70 TRY – 7.83 TRY · the 7.45 TRY price screens above the 6.26 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Global Menkul Degerler Anonim Sirketi provides capital market brokerage services to individuals, financial institutions, and local and international investors in Turkey.

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It offers investment services for stock; VIOP; foreign stock transaction; investment funds; portfolio management; corporate finance; investment advisory, and individual retirement system. It also provides digital platforms, as well as consulting and fund management services.

The company was founded in 1990 and is based in Istanbul, Turkey. Global Menkul Degerler Anonim Sirketi operates as a subsidiary of GFS Holding Anonim Sirketi.

Stock analysis

Global Menkul Degerler AS (GLBMD) currently trades at 7.45 TRY, while our estimate is 6.26 TRY, 16% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: 4.70 TRY (bear) to 7.83 TRY (bull), the price of 7.45 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 34/100 (below-average quality), in the Financial Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Global Menkul Degerler AS reported revenue of 27.5B TRY in FY2025 versus 8.3B TRY in FY2021, a compound +35.1%/yr. Reported net income was −71.3M TRY in FY2025.

Key figures

Market cap 879M TRY (≈ $17.5M) Micro · P/S ratio 0.03 · EPS (TTM) −0.7900 TRY · Net margin −0.3% · Return on equity −15.0% · Return on assets (EBIT) 8.3% (5-year average) · Operating margin −0.1% · Revenue (TTM) 29.7B TRY.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 11 out of 100 (low confidence).

What moves the price

The share trades about 48% 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 −16%, GLBMD screens richer than that median.

Fair Value

Bear 4.70 TRY Fair Value 6.26 TRY Bull 7.83 TRY
Price 7.45 TRY · Downside -16.0%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 34/100

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

Profitability 33
How much profit the company makes from its sales and capital
Quality Growth 46
Are margins and returns getting better?
Cashflow 40
Do the profits arrive as real cash?
Financial strength 43
Debt, balance sheet and risk of trouble
Investment 33
Does it invest with discipline instead of growing at any price?
Low Volatility 66
How calm the share price moves, does not count
Price momentum 8
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 9
Distance to the 52-week high, does not count
New shares 40
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. 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−0.2%
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.
+31.7%
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.
+20.6%
Start year 2020 (pandemic). Over 10 years: +10.6% a year
Revenue growth 16 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.
+10.4%
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

GLBMD screens overvalued: fair value 16% below the price. Compare with Morgan Stanley →

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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.Capital Markets · 455 stocks

Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 34 · Bottom 25%
Fair Value upside −16.0% · Below median
Profitability
Return on assets −2.4% · Bottom 25%
Net margin (12 months) −0.3% · Bottom 25%
Operating margin (12 months) −0.1% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 29.5% · Above median

Valuation Multiplesvs Capital Markets median · lower = cheaper

P/B 1.54× · Pricier than median
P/S (12 months) 0.03× · Cheapest 25%
EV/EBITDA 3.1× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)12 · sector 32
FUTURE (revenue growth)100 · sector 58
PAST (return on equity)0 · sector 31
HEALTH (low debt)–
DIVIDEND (yield)0 · sector 46

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

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 Capital Markets stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Morgan Stanley MS $187.56 $260.72 +39% vs GLBMD
The Charles Schwab Corporation SCHW $93.03 $117.60 +26% vs GLBMD
Guotai Haitong Securities Co 601211 ¥16.21 ¥18.02 +11% vs GLBMD
Nomura Holdings NMR $9.51 $10.17 +7% vs GLBMD
The Goldman Sachs Group GS $910.19 $766.86 −16% vs GLBMD
CITIC Securities Company 600030 ¥25.53 ¥20.42 −20% vs GLBMD
Robinhood Markets, Inc HOOD $81.33 $47.60 −41% vs GLBMD
Macquarie Group MQG A$249.23 A$123.84 −50% vs GLBMD
East Money Information Co 300059 ¥18.78 ¥6.72 −64% vs GLBMD
Interactive Brokers Group IBKR $77.59 $17.48 −77% vs GLBMD

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Global Menkul Degerler AS: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Global Menkul Degerler AS Fair Value". https://www.fairvalue-calculator.com/stock/GLBMD

Frequently asked questions

Is Global Menkul Degerler AS (GLBMD) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is 6.26 TRY versus a price of 7.45 TRY, about 16% lower (overvalued).
What is the fair value of GLBMD?
Our estimate for Global Menkul Degerler AS is 6.26 TRY (as of Nov 10, 2026), built from audited fundamentals. The current price: 7.45 TRY.
What is the quality score of GLBMD?
Global Menkul Degerler AS has a Quality Score of 34/100. 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 Global Menkul Degerler AS (GLBMD)?
Our calculated price target is the estimate of 6.26 TRY (as of Nov 10, 2026). Cautious scenario 4.70 TRY, optimistic scenario 7.83 TRY. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Global Menkul Degerler AS stock forecast for 2026?
Our estimate puts fair value at 6.26 TRY, about 16% lower versus a price of 7.45 TRY (overvalued). Cautious scenario 4.70 TRY, optimistic scenario 7.83 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Global Menkul Degerler AS (GLBMD)?
Global Menkul Degerler AS reported trailing-twelve-month revenue of about 29.7B TRY (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Global Menkul Degerler AS (GLBMD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Global Menkul Degerler AS it is 6.26 TRY per share (as of Nov 10, 2026), against a price of 7.45 TRY.
Is Global Menkul Degerler AS stock overvalued or undervalued in 2026?
As of Nov 10, 2026, GLBMD trades above its calculated fair value: price 7.45 TRY, fair value 6.26 TRY, a gap of about −16% (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 GLBMD?
No. The price is what the market pays today (7.45 TRY); the fair value is what the company's own numbers justify (6.26 TRY). For Global Menkul Degerler AS the two are 1.19 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Global Menkul Degerler AS worth?
The market values Global Menkul Degerler AS at about 879M TRY (market capitalisation, as of Nov 10, 2026). Per share that is 7.45 TRY; our models calculate a fair value of 6.26 TRY per share.
What do the bullish and bearish scenarios say about GLBMD?
Our models span a range for Global Menkul Degerler AS: cautious scenario 4.70 TRY, base 6.26 TRY, optimistic 7.83 TRY per share (as of Nov 10, 2026, price 7.45 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Global Menkul Degerler AS (GLBMD)?
Balance-sheet figures for Global Menkul Degerler AS (as of Nov 10, 2026): return on equity −15.0%. They feed the Quality Score of 34/100, which measures business quality independently of the share price.
How far is GLBMD from its 52-week high?
Global Menkul Degerler AS trades at 7.45 TRY, about 48% below its 52-week high of 14.42 TRY and 26% above the low of 5.93 TRY (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of 6.26 TRY is for.
Which stocks are comparable to Global Menkul Degerler AS?
From the same area (Financial Services) we also value Morgan Stanley, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, 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 Global Menkul Degerler AS stock attractive at the current price?
The data as of Nov 10, 2026: price 7.45 TRY, calculated fair value 6.26 TRY (−16%), Quality Score 34/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Global Menkul Degerler 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 Global Menkul Degerler AS (GLBMD)?
The closing price on Nov 10, 2026 was 7.45 TRY. Our estimate is 6.26 TRY, about 16% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Global Menkul Degerler AS right now?
Weak quality (34/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. 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 Global Menkul Degerler AS

How large is the market capitalisation of Global Menkul Degerler AS (GLBMD)?
The market capitalisation of Global Menkul Degerler AS is 879M TRY (≈ $17.5M). 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 Global Menkul Degerler AS (GLBMD)?
The price-to-sales ratio of Global Menkul Degerler AS is 0.03 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Global Menkul Degerler AS (GLBMD)?
Earnings per share at Global Menkul Degerler AS are −0.7900 TRY. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Global Menkul Degerler AS (GLBMD)?
The net margin of Global Menkul Degerler AS is −0.3% (last twelve months). 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 Global Menkul Degerler AS (GLBMD)?
The return on equity (ROE) of Global Menkul Degerler AS is −15.0% (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 Global Menkul Degerler AS (GLBMD)?
On an EBIT basis the return on assets of Global Menkul Degerler AS is 8.3% (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 Global Menkul Degerler AS (GLBMD)?
The operating margin of Global Menkul Degerler AS is −0.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Global Menkul Degerler AS (GLBMD)?
Revenue at Global Menkul Degerler AS is growing +29.5% versus a year earlier (3y avg +31.7%). 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 Global Menkul Degerler AS (GLBMD)?
Earnings per share at Global Menkul Degerler AS are growing +59.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Global Menkul Degerler AS (GLBMD) generate?
The free cash flow of Global Menkul Degerler AS is −542M TRY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Global Menkul Degerler AS (GLBMD) carry?
The net debt of Global Menkul Degerler AS is 257M TRY (fiscal year 2025). 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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