QNB Finansal Kiralama A.S. (QNBFK) fair value: what the stock is really worth
As of Oct 28, 2026: fair value (intrinsic value) of QNB Finansal Kiralama A.S. stock TRY 11.89, price TRY 33.10, upside -64.1%, quality 51 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with oneYes, for free
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Oct 30, 2026.
How to read this chart
60‑month range 7.20 TRY – 189.20 TRY · fair‑value band 6.22 TRY – 14.86 TRY · the 33.10 TRY price screens above the 11.89 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 30, 2026.
Follow QNB Finansal Kiralama A.S. in your weekly email
Every Wednesday you see whether QNB Finansal Kiralama A.S. is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
QNB Finansal Kiralama A.S. provides financial leasing services in Turkey and internationally.
Show moreShow less
It offers finance leasing services for business and construction machinery, metalworking machines, real estate, energy and energy efficiency equipment, medical devices and equipment, yacht/boat, agricultural machinery, audio and video systems, elevators and escalators, power transmission and distribution systems, passenger cars, aircraft, special purpose vehicles, printing machines, textile machinery, commercial vehicles, heating and cooling equipment, furniture equipment, production machinery, and technological equipment.
The company was formerly known as QNB Finans Finansal Kiralama AS and changed its name to QNB Finansal Kiralama A.S. in October 2024. The company was incorporated in 1990 and is headquartered in Istanbul, Turkey. QNB Finansal Kiralama A.S. is a subsidiary of QNB Bank A.S.
Stock analysis
QNB Finansal Kiralama A.S. (QNBFK) currently trades at 33.10 TRY, while our model-based Fair Value estimate is 11.89 TRY, 64.1% below the price, so the stock looks overvalued today.
Show more
Valuation
Bull case: the Earnings-Based group reads highest at a median of 21.67 TRY per share, and 1 of the 6 models we run sit above the 33.10 TRY price.
Bear case: the Asset-Based group reads lowest at 2.93 TRY, and 5 of the 6 models stay below the price. Data coverage for this calculation is low.
Scenario range: 6.22 TRY (bear) to 14.86 TRY (bull), the price of 33.10 TRY sits above 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 51/100 (solid quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
QNB Finansal Kiralama A.S. reported revenue of 6.7B TRY in FY2025 versus 856M TRY in FY2021, a compound +67.3%/yr. Reported net income was 1.8B TRY in FY2025, compounding +73.6%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 82.3B TRY (≈ $1.6B) Small · P/E ratio 38.9 · P/S ratio 23.1 · EPS (TTM) 0.8500 TRY · Net margin 59.5% · Return on equity 31.1% · Return on assets (EBIT) 2.2% · Operating margin 74.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 68 out of 100 (medium confidence).
What moves the price
The share trades about 49% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at 10% fair-value upside, at −64%, QNBFK screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (2.93 TRY to 43.37 TRY). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear6.22 TRYFair Value 11.89 TRYBull14.86 TRY
Price 33.10 TRY · Upside -64.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.7056 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+25.9%
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.
+66.5%
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.
+62.0%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years), in TRY (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in TRY: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+51.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+51.8%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘ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.16% → 32%
2025 sits 120% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Compare QNB Finansal Kiralama A.S. with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
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 · 327 stocks
Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside−64.1% · Bottom 25%
Profitability
Return on equity (12 months)31.1% · Top 25%
Return on assets3.2% · Above median
Net margin (12 months)59.5% · Top 25%
Operating margin (12 months)74.5% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)63.3% · Top 25%
Balance sheet
Debt / equity1.21× · Above median
Valuation Multiplesvs Credit Services median · lower = cheaper
P/E (12 months)38.9× · Priciest 25%
P/B12.76× · Priciest 25%
P/S (12 months)23.07× · Priciest 25%
EV/EBITDA39.4× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 65
FUTURE (revenue growth)100· sector 51
PAST (return on equity)100· sector 33
HEALTH (low debt)40· sector 57
DIVIDEND (yield)0· sector 65
VALUE 0: the price sits above our fair-value range.
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.
Is QNB Finansal Kiralama A.S. (QNBFK) overvalued or undervalued?
As of Oct 30, 2026, our model estimates a fair value of 11.89 TRY versus a price of 33.10 TRY, about −64% upside (overvalued).
What is the fair value of QNBFK?
Our model-based fair value for QNB Finansal Kiralama A.S. is 11.89 TRY (as of Oct 30, 2026), built from audited fundamentals. The current price: 33.10 TRY.
What is the quality score of QNBFK?
QNB Finansal Kiralama A.S. has a Quality Score of 51/100. 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 QNB Finansal Kiralama A.S. (QNBFK)?
Our model-based price target is the fair value of 11.89 TRY (as of Oct 30, 2026) from 6 valuation models. Cautious scenario 6.22 TRY, optimistic scenario 14.86 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the QNB Finansal Kiralama A.S. stock forecast for 2026?
Our models put fair value at 11.89 TRY, about −64% upside versus a price of 33.10 TRY (overvalued). Cautious scenario 6.22 TRY, optimistic scenario 14.86 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of QNB Finansal Kiralama A.S. (QNBFK)?
QNB Finansal Kiralama A.S. reported trailing-twelve-month revenue of about 3.6B TRY (latest available figure, as of Oct 30, 2026).
What is the intrinsic value of QNB Finansal Kiralama A.S. (QNBFK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For QNB Finansal Kiralama A.S. it is 11.89 TRY per share (as of Oct 30, 2026), against a price of 33.10 TRY. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is QNB Finansal Kiralama A.S. stock overvalued or undervalued in 2026?
As of Oct 30, 2026, QNBFK trades above its calculated fair value: price 33.10 TRY, fair value 11.89 TRY, a gap of about −64% (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 QNBFK?
No. The price is what the market pays today (33.10 TRY); the fair value is what the company's own numbers justify (11.89 TRY). For QNB Finansal Kiralama A.S. the two are 21.21 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is QNB Finansal Kiralama A.S. worth?
The market values QNB Finansal Kiralama A.S. at about 82.3B TRY (market capitalisation, as of Oct 30, 2026). Per share that is 33.10 TRY; our models calculate a fair value of 11.89 TRY per share.
What do the bullish and bearish scenarios say about QNBFK?
Our models span a range for QNB Finansal Kiralama A.S.: cautious scenario 6.22 TRY, base 11.89 TRY, optimistic 14.86 TRY per share (as of Oct 30, 2026, price 33.10 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of QNBFK?
QNB Finansal Kiralama A.S. trades at a price-to-earnings ratio of 38.9 (as of Oct 30, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 11.89 TRY is built from several models across several years. Other multiples: P/B 12.8, P/S 23.1, EV/EBITDA 39.4.
How solid is the balance sheet of QNB Finansal Kiralama A.S. (QNBFK)?
Balance-sheet figures for QNB Finansal Kiralama A.S. (as of Oct 30, 2026): return on equity 31.1%, debt of 1.21 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is QNBFK from its 52-week high?
QNB Finansal Kiralama A.S. trades at 33.10 TRY, about 49% below its 52-week high of 64.80 TRY and at the low of 33.10 TRY (as of Oct 28, 2026). Distance from the high says nothing about value: that is what the fair value of 11.89 TRY is for.
Which stocks are comparable to QNB Finansal Kiralama A.S.?
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 QNB Finansal Kiralama A.S. stock attractive at the current price?
The data as of Oct 30, 2026: price 33.10 TRY, calculated fair value 11.89 TRY (−64%), Quality Score 51/100, from 6 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 QNBFK calculated?
We run QNB Finansal Kiralama A.S. through 6 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 11.89 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 13.1 % above its aggregate fair value. QNB Finansal Kiralama A.S. 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 QNB Finansal Kiralama A.S. (QNBFK)?
The closing price on Oct 28, 2026 was 33.10 TRY. Our model-based fair value is 11.89 TRY, about −64% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with QNB Finansal Kiralama A.S. right now?
The price sits above even our optimistic bull case (14.86 TRY). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (6.22 TRY to 14.86 TRY) leaves room in how you read the outcome.
Key figures of QNB Finansal Kiralama A.S.
How large is the market capitalisation of QNB Finansal Kiralama A.S. (QNBFK)?
The market capitalisation of QNB Finansal Kiralama A.S. is 82.3B TRY (≈ $1.6B). 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 QNB Finansal Kiralama A.S. (QNBFK)?
The price-to-sales ratio of QNB Finansal Kiralama A.S. is 23.1 (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 QNB Finansal Kiralama A.S. (QNBFK)?
Earnings per share at QNB Finansal Kiralama A.S. are 0.8500 TRY (price ÷ EPS = P/E 38.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of QNB Finansal Kiralama A.S. (QNBFK)?
The net margin of QNB Finansal Kiralama A.S. is 59.5% (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 QNB Finansal Kiralama A.S. (QNBFK)?
The return on equity (ROE) of QNB Finansal Kiralama A.S. is 31.1% (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 QNB Finansal Kiralama A.S. (QNBFK)?
On an EBIT basis the return on assets of QNB Finansal Kiralama A.S. is 2.2% (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 QNB Finansal Kiralama A.S. (QNBFK)?
The operating margin of QNB Finansal Kiralama A.S. is 74.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at QNB Finansal Kiralama A.S. (QNBFK)?
Revenue at QNB Finansal Kiralama A.S. is growing +63.3% versus a year earlier (3y avg +66.5%). 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 QNB Finansal Kiralama A.S. (QNBFK)?
Earnings per share at QNB Finansal Kiralama A.S. are growing +21.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does QNB Finansal Kiralama A.S. (QNBFK) generate?
The free cash flow of QNB Finansal Kiralama A.S. is −11.0B 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 QNB Finansal Kiralama A.S. (QNBFK) carry?
The net debt of QNB Finansal Kiralama A.S. is 41.5B 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.
Free · no account needed
Watch QNB Finansal Kiralama A.S. in the live analysis
One click puts QNB Finansal Kiralama A.S. on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 28,000+ stock screener.
Thin data
Oct 30, 2026