Sumer Varlik Yonetim A.S. (SMRVA) fair value: what the stock is really worth
We calculate from audited financials what Sumer Varlik Yonetim A.S. 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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Sumer Varlik Yonetim A.S. operates as an asset management company.
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Sumer Varlik Yonetim A.S. operates as an asset management company. It purchases receivables and other assets of banks and other financial institutions by collecting from debtors, as well as restructuring and converting securities into cash; manages relationships with banks and other financial institutions; creates solutions that companies and banks agree on; and provides consultancy and intermediary services on the restructuring of debts with banks and other financial institutions by offering alternative solutions, as well as by supporting them for the mental and financial conditions. The company was founded in 2014 and is based in Istanbul, Türkiye.
Stock analysis
Sumer Varlik Yonetim A.S. (SMRVA) currently trades at 10.19 TRY, while our model-based Fair Value estimate is 7.36 TRY, implying the stock looks roughly 38.4% overvalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of 39.65 TRY per share, and 7 of the 10 models we run sit above the 10.19 TRY price.
Bear case: the Asset-Based group reads lowest at 2.63 TRY, and 3 of the 10 models stay below the price. Evidence for this calculation is low.
Scenario range: 5.36 TRY (bear) to 18.41 TRY (bull), the price of 10.19 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 57/100 (solid quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Sumer Varlik Yonetim A.S. reported revenue of 1.9B TRY in FY2025 versus 192M TRY in FY2021, a compound +76.5%/yr. Reported net income was 680M TRY in FY2025, compounding +65.6%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 6.8B TRY (≈ $141M) · P/E ratio 11.2 · P/S ratio 4.09 · EPS (TTM) 0.9100 TRY · Net margin 36.5% · Return on equity 24.4% · Return on assets (EBIT) 39.2% · Operating margin 62.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −28%, SMRVA screens cheaper than that median.
Fair Value models
Bear 5.36 TRYFair Value 7.36 TRYBull 18.41 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 (0.6432 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
+15.0%
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.
+73.8%
’21
’22
’23
’24
’25
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. Basis: EBIT basis. 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.
+7.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.6%
Dividend (yield on the price)0.0%
Profit margin 2021 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.73% → 55%
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).
+60.3%
Yearly growth needed for the next five years to justify today's price.
Compare Sumer Varlik Yonetim A.S. with another stock
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.Asset Management · 663 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score56 · Below median
Fair Value upside+42% · Above median
Profitability
Return on equity (TTM)24% · Top 25%
Return on assets14% · Top 25%
Net margin (TTM)29% · Above median
Operating margin (TTM)62% · Above median
Growth and dividend
Revenue growth0% · Below median
Dividend yield (TTM)0.0% · Bottom 25%
Valuation Multiplesvs Asset Management median · lower = cheaper
P/E (TTM)11.2× · Cheaper than median
P/B2.90× · Priciest 25%
P/S (TTM)3.66× · Cheaper than median
P/FCF1.9× · Cheaper than median
EV/EBITDA5.7× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 49
FUTURE (revenue growth)1· sector 18
PAST (return on equity)98· sector 21
HEALTH (low debt)100· sector 95
DIVIDEND (yield)0· sector 78
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 Sumer Varlik Yonetim A.S. (SMRVA) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of 7.36 TRY versus a price of 10.19 TRY, about −28% upside (overvalued).
What is the fair value of SMRVA?
Our model-based fair value for Sumer Varlik Yonetim A.S. is 7.36 TRY (as of Sep 13, 2026), built from audited fundamentals. The current price: 10.19 TRY.
What is the quality score of SMRVA?
Sumer Varlik Yonetim A.S. has a Quality Score of 57/100. 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 Sumer Varlik Yonetim A.S. (SMRVA)?
Our model-based price target is the fair value of 7.36 TRY (as of Sep 13, 2026) from 10 valuation models. Cautious scenario 5.36 TRY, optimistic scenario 18.41 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Sumer Varlik Yonetim A.S. stock forecast for 2026?
Our models put fair value at 7.36 TRY, about −28% upside versus a price of 10.19 TRY (overvalued). Cautious scenario 5.36 TRY, optimistic scenario 18.41 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Sumer Varlik Yonetim A.S. (SMRVA)?
Sumer Varlik Yonetim A.S. reported trailing-twelve-month revenue of about 1.9B TRY (latest available figure, as of Sep 13, 2026).
What growth is priced into Sumer Varlik Yonetim A.S. (SMRVA)?
For today's price to be fair in a discounted-cash-flow model, Sumer Varlik Yonetim A.S. would have to grow free cash flow by +60.3 % per year for five years (discount rate 17.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +76.5 % per year. As of Sep 13, 2026.
What discount rate (WACC) does the fair value of SMRVA use?
Our models discount Sumer Varlik Yonetim A.S. at 17.2 %: a base by market capitalisation (micro), 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 Sumer Varlik Yonetim A.S. that is +60.3 % per year a year over ten years, using the same discount rate (17.2 %) and the same formula as our fair value.
How much growth has Sumer Varlik Yonetim A.S. (SMRVA) delivered so far?
Over the past 4 years revenue at Sumer Varlik Yonetim A.S. grew +76.5 % a year. The price currently implies +60.3 % 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 Sumer Varlik Yonetim A.S. (SMRVA) growing?
The median revenue growth in the sector is +4.9 % a year. That is the yardstick for the growth priced into Sumer Varlik Yonetim A.S. (+60.3 % 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 Sumer Varlik Yonetim A.S. (SMRVA)?
The free-cash-flow yield on the price is 1.25 %: that much free cash flow Sumer Varlik Yonetim A.S. produces per unit of market value. When it exceeds the discount rate of our models (17.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Sumer Varlik Yonetim A.S. (SMRVA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sumer Varlik Yonetim A.S. it is 7.36 TRY per share (as of Sep 13, 2026), against a price of 10.19 TRY. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Sumer Varlik Yonetim A.S. stock overvalued or undervalued in 2026?
As of Sep 13, 2026, SMRVA trades above its calculated fair value: price 10.19 TRY, fair value 7.36 TRY, a gap of about −28% (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 SMRVA?
No. The price is what the market pays today (10.19 TRY); the fair value is what the company's own numbers justify (7.36 TRY). For Sumer Varlik Yonetim A.S. the two are 2.83 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Sumer Varlik Yonetim A.S. worth?
The market values Sumer Varlik Yonetim A.S. at about 6.8B TRY (market capitalisation, as of Sep 13, 2026). Per share that is 10.19 TRY; our models calculate a fair value of 7.36 TRY per share.
What do the bullish and bearish scenarios say about SMRVA?
Our models span a range for Sumer Varlik Yonetim A.S.: cautious scenario 5.36 TRY, base 7.36 TRY, optimistic 18.41 TRY per share (as of Sep 13, 2026, price 10.19 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SMRVA?
Sumer Varlik Yonetim A.S. trades at a price-to-earnings ratio of 11.2 (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 7.36 TRY is built from several models across several years. Other multiples: P/B 2.9, P/S 3.7, EV/EBITDA 5.7.
How solid is the balance sheet of Sumer Varlik Yonetim A.S. (SMRVA)?
Balance-sheet figures for Sumer Varlik Yonetim A.S. (as of Sep 13, 2026): return on equity 24.4%. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
Which stocks are comparable to Sumer Varlik Yonetim A.S.?
From the same area (Financial Services) we also value Blackstone Inc, Investor AB, Brookfield Corporation, KKR & Co, 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 Sumer Varlik Yonetim A.S. stock attractive at the current price?
The data as of Sep 13, 2026: price 10.19 TRY, calculated fair value 7.36 TRY (−28%), Quality Score 57/100, 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 SMRVA calculated?
We run Sumer Varlik Yonetim A.S. 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 7.36 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. Sumer Varlik Yonetim 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 Sumer Varlik Yonetim A.S. (SMRVA)?
The closing price on Sep 14, 2026 was 10.19 TRY. Our model-based fair value is 7.36 TRY, about −28% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sumer Varlik Yonetim A.S. right now?
The model range is unusually wide (5.36 TRY to 18.41 TRY). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder. 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 Sumer Varlik Yonetim A.S.
How large is the market capitalisation of Sumer Varlik Yonetim A.S. (SMRVA)?
The market capitalisation of Sumer Varlik Yonetim A.S. is 6.8B TRY (≈ $141M). 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 Sumer Varlik Yonetim A.S. (SMRVA)?
The price-to-sales ratio of Sumer Varlik Yonetim A.S. is 4.09 (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 Sumer Varlik Yonetim A.S. (SMRVA)?
Earnings per share at Sumer Varlik Yonetim A.S. are 0.9100 TRY (price ÷ EPS = P/E 11.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Sumer Varlik Yonetim A.S. (SMRVA)?
The net margin of Sumer Varlik Yonetim A.S. is 36.5% (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 Sumer Varlik Yonetim A.S. (SMRVA)?
The return on equity (ROE) of Sumer Varlik Yonetim A.S. is 24.4% (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 Sumer Varlik Yonetim A.S. (SMRVA)?
On an EBIT basis the return on assets of Sumer Varlik Yonetim A.S. is 39.2% (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 Sumer Varlik Yonetim A.S. (SMRVA)?
The operating margin of Sumer Varlik Yonetim A.S. is 62.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sumer Varlik Yonetim A.S. (SMRVA)?
Revenue at Sumer Varlik Yonetim A.S. is growing +0.1% versus a year earlier (3y avg +73.8%). 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 Sumer Varlik Yonetim A.S. (SMRVA)?
Earnings per share at Sumer Varlik Yonetim A.S. are growing −50.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Sumer Varlik Yonetim A.S. (SMRVA) carry?
The net debt of Sumer Varlik Yonetim A.S. is 896M TRY (fiscal year 2025, ≈ 11.8 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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