Qnb Finansbank AS (QNBTR) fair value: what the stock is really worth
We calculate from audited financials what Qnb Finansbank AS is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.
How to read this chart
60‑month range 32.08 TRY – 979.00 TRY · fair‑value band 43.66 TRY – 238.40 TRY · the 181.00 TRY price screens above the 59.60 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 13, 2026.
QNB Bank A.S. provides various banking and financial services in Turkey. It operates through three segments: Retail Banking, Corporate and Commercial Banking, and Treasury and General Directorate.
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QNB Bank A.S. provides various banking and financial services in Turkey. It operates through three segments: Retail Banking, Corporate and Commercial Banking, and Treasury and General Directorate. The company offers savings, time, and demand deposits; savings, time, accumulating account, and payroll accounts; consumer, auto, home, and mortgage loans, as well as overdraft; investment products, such as bills and bonds, deposit fund packages, derivatives, exchange rates, funds, private portfolio, repo, and stocks; life, workplace, unemployment, auto, home, professional liability, and personal accident insurance products; individual pension products; credit cards; safe deposit boxes; checks; loans; payments; and money transfer services. The company also provides agricultural investment products; support products; cash management, cash loans, guarantee services, merchant, and agricultural banking services; corporate banking, and small and medium-sized enterprise banking services; and foreign trading, cosme programs. The company was formerly known as QNB Finansbank A.S. and changed its name to QNB Bank A.S. in October 2024. QNB Bank A.S. was incorporated in 1987 and is headquartered in Istanbul, Turkey. QNB Bank A.S. is a subsidiary of Qatar National Bank (Q.P.S.C.).
Stock analysis
Qnb Finansbank AS (QNBTR) currently trades at 181.00 TRY, while our model-based Fair Value estimate is 59.60 TRY, implying the stock looks roughly 203.7% overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 88.78 TRY per share, and 0 of the 4 models we run sit above the 181.00 TRY price.
Bear case: the Asset-Based group reads lowest at 21.06 TRY, and 4 of the 4 models stay below the price. Evidence for this calculation is medium.
Scenario range: 43.66 TRY (bear) to 238.40 TRY (bull), the price of 181.00 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 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 Finansbank AS reported revenue of 162B TRY in FY2025 versus 13.8B TRY in FY2021, a compound +85.1%/yr. Reported net income was 47.8B TRY in FY2025, compounding +87.0%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 1.1T TRY (≈ $22.4B) · P/E ratio 20.7 · P/S ratio 6.11 · EPS (TTM) 8.74 TRY · Net margin 29.5% · Return on equity 33.4% · Return on assets 2.7% · Operating margin 53.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
For context, the median of 10 Financial Services peers we cover trades at −33% fair-value upside, at −67%, QNBTR screens richer than that median.
Fair Value models
Bear 43.66 TRYFair Value 59.60 TRYBull 238.40 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 8 months old). Earnings retained since then (6.18 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+59.9%
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.
+51.4%
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.
+73.2%
Revenue growth 9 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.
+45.0%
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What shareholders gained per year (last 5 years), in TRY ⓘ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. 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.
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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.Banks - Regional · 1077 stocks
Beats the industry median on 5/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside−58% · Bottom 25%
Profitability
Return on equity (TTM)33% · Top 25%
Return on assets3% · Top 25%
Net margin (TTM)40% · Top 25%
Operating margin (TTM)53% · Top 25%
Growth and dividend
Revenue growth25% · Top 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
P/E (TTM)20.7× · Priciest 25%
P/B6.29× · Priciest 25%
P/S (TTM)8.22× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 11
FUTURE (revenue growth)100· sector 44
PAST (return on equity)100· sector 41
HEALTH (low debt)0· sector 85
DIVIDEND (yield)0· sector 52
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.
Cite: Fair Value Calculator (2026). "Qnb Finansbank AS Fair Value". https://www.fairvalue-calculator.com/stock/QNBTR
Frequently asked questions
Is Qnb Finansbank AS (QNBTR) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of 59.60 TRY versus a price of 181.00 TRY, about −67% upside (overvalued).
What is the fair value of QNBTR?
Our model-based fair value for Qnb Finansbank AS is 59.60 TRY (as of Sep 13, 2026), built from audited fundamentals. The current price: 181.00 TRY.
What is the quality score of QNBTR?
Qnb Finansbank AS 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 Finansbank AS (QNBTR)?
Our model-based price target is the fair value of 59.60 TRY (as of Sep 13, 2026) from 4 valuation models. Cautious scenario 43.66 TRY, optimistic scenario 238.40 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Qnb Finansbank AS stock forecast for 2026?
Our models put fair value at 59.60 TRY, about −67% upside versus a price of 181.00 TRY (overvalued). Cautious scenario 43.66 TRY, optimistic scenario 238.40 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Qnb Finansbank AS (QNBTR)?
Qnb Finansbank AS reported trailing-twelve-month revenue of about 132B TRY (latest available figure, as of Sep 13, 2026).
What is the intrinsic value of Qnb Finansbank AS (QNBTR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Qnb Finansbank AS it is 59.60 TRY per share (as of Sep 13, 2026), against a price of 181.00 TRY. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Qnb Finansbank AS stock overvalued or undervalued in 2026?
As of Sep 13, 2026, QNBTR trades above its calculated fair value: price 181.00 TRY, fair value 59.60 TRY, a gap of about −67% (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 QNBTR?
No. The price is what the market pays today (181.00 TRY); the fair value is what the company's own numbers justify (59.60 TRY). For Qnb Finansbank AS the two are 121.40 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Qnb Finansbank AS worth?
The market values Qnb Finansbank AS at about 1.1T TRY (market capitalisation, as of Sep 13, 2026). Per share that is 181.00 TRY; our models calculate a fair value of 59.60 TRY per share.
What do the bullish and bearish scenarios say about QNBTR?
Our models span a range for Qnb Finansbank AS: cautious scenario 43.66 TRY, base 59.60 TRY, optimistic 238.40 TRY per share (as of Sep 13, 2026, price 181.00 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of QNBTR?
Qnb Finansbank AS trades at a price-to-earnings ratio of 20.7 (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 59.60 TRY is built from several models across several years. Other multiples: P/B 6.3, P/S 8.2.
How solid is the balance sheet of Qnb Finansbank AS (QNBTR)?
Balance-sheet figures for Qnb Finansbank AS (as of Sep 13, 2026): return on equity 33.4%. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
Which stocks are comparable to Qnb Finansbank AS?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, Intesa Sanpaolo S.p.A, HDFC Bank Limited, 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 Finansbank AS stock attractive at the current price?
The data as of Sep 13, 2026: price 181.00 TRY, calculated fair value 59.60 TRY (−67%), Quality Score 51/100, from 4 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 QNBTR calculated?
We run Qnb Finansbank AS through 4 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 59.60 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 15.6 % above its aggregate fair value. Qnb Finansbank 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 Qnb Finansbank AS (QNBTR)?
The closing price on Sep 14, 2026 was 181.00 TRY. Our model-based fair value is 59.60 TRY, about −67% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Qnb Finansbank AS right now?
The model range is unusually wide (43.66 TRY to 238.40 TRY). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder. 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 Qnb Finansbank AS
How large is the market capitalisation of Qnb Finansbank AS (QNBTR)?
The market capitalisation of Qnb Finansbank AS is 1.1T TRY (≈ $22.4B). 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 Finansbank AS (QNBTR)?
The price-to-sales ratio of Qnb Finansbank AS is 6.11 (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 Qnb Finansbank AS (QNBTR)?
Earnings per share at Qnb Finansbank AS are 8.74 TRY (price ÷ EPS = P/E 20.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Qnb Finansbank AS (QNBTR)?
The net margin of Qnb Finansbank AS is 29.5% (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 Qnb Finansbank AS (QNBTR)?
The return on equity (ROE) of Qnb Finansbank AS is 33.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the return on assets of Qnb Finansbank AS (QNBTR)?
The return on assets (ROA) of Qnb Finansbank AS is 2.7% (last twelve months). Profit relative to everything the company owns. Harder to inflate than return on equity because debt does not boost it.
What is the operating margin of Qnb Finansbank AS (QNBTR)?
The operating margin of Qnb Finansbank AS is 53.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Qnb Finansbank AS (QNBTR)?
Revenue at Qnb Finansbank AS is growing +24.5% versus a year earlier (3y avg +51.4%). 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 Finansbank AS (QNBTR)?
Earnings per share at Qnb Finansbank AS are growing +40.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Qnb Finansbank AS (QNBTR) generate?
The free cash flow of Qnb Finansbank AS is −96.4B 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 Finansbank AS (QNBTR) carry?
The net debt of Qnb Finansbank AS is 265B 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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