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TBC Bank Group (TBCG) Fair Value & Analysis

Financial Services · GB · Market cap 2.4B GBX

TB TBC Bank Group TBCG · LSE
Price£44.64
Fair Value£89.28
Upside+100.0%
Quality95/100
Evidence: High Range £66.96 – £111.60

Fair value as of: Jun 26, 2026

From 26 valuation models · updated 4 days ago

Fair value updated Jun 26, 2026 — revised from £90.60 to £89.28 (−1.5%) since Jun 24, 2026. Share price −1.6% over the past month.

Price vs Fair Value (12 months)

£50.92 £35.34 Fair Value £89.28 Jul 2025 Jun 2026

12‑month range £35.34 – £50.92 · fair‑value band £66.96 – £111.60 · the £44.64 price screens below the £89.28 fair value. As of Jun 26, 2026.

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Analysis

TBC Bank Group (TBCG) currently trades at £44.64, while our model-based Fair Value estimate is £89.28 — implying the stock looks roughly 100.0% undervalued today. We read business quality at 95/100 (high quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high) — always confirm before acting.

Over the trailing twelve months, TBC Bank Group generated revenue of £2.8B at a net margin of 47.1%. Revenue grew 15.1% year over year. It earns a return on equity of 24.0%. Net debt stands at £2.2B. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) 2.8B GBX
Revenue growth (YoY) +15.1%
Net margin 47.1%
Return on equity 24.0%
Free cash flow 610M GBX FY2025
P/E ratio 6.2
More key figures
EPS (TTM) £7.13
EPS growth (YoY) +14.5%
Net debt 2.2B GBX FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.

About the company

TBC Bank Group PLC, through its subsidiaries, provides banking, leasing, insurance, brokerage, and card processing services to corporate and individual customers in Georgia, Azerbaijan, and Uzbekistan. The company operates through Georgian Financial Services; Uzbekistan Operations; and Other Operations segments. It offers banking business solutions, such as deposit and loans; and other financial services, including non-health insurance and leasing services; asset finance solutions; advisory services; and financial leasing, operating leasing, and sale and leasebacks. The company also offers digital banking services comprising cash loans, deposits, debit cards, remittances, gamification, installment/POS loans, daily banking, credit cards, MSME, and buy now, pay later (BNPL). In addition, it provides payment solutions, such as P2P transfers, utility and government payments, PFM, and QR payments, as well as Payme travel, goals, tickets, and subscription. Further, the company offers brok…

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

TBC Bank Group reported revenue of £5.8B in FY2025 versus £2.4B in FY2021, a compound +24.9%/yr. Reported net income was £1.4B in FY2025, compounding +14.9%/yr from FY2021.

Revenue +24.9%/yr
FY21 £2.4B
FY22 £3.2B
FY23 £3.8B
FY24 £4.8B
FY25 £5.8B
Net income +14.9%/yr
FY21 £801M
FY22 £995M
FY23 £1.1B
FY24 £1.3B
FY25 £1.4B

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Similar stocks

6 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Jun 26, 2026).

Stock Price Fair Value vs Fair Value
HDFC Bank Limited HDFCBANK ₹747.05 ₹894.11 +20%
PT Bank Central Asia Tbk BBCA 5,650 IDR 5,671 IDR +0%
PT Bank Rakyat Indonesia (Persero) Tbk BBRI 2,910 IDR 4,844 IDR +66%
Banco Bradesco S.A BBD 5,120 ARS 10,240 ARS +100%
KB Financial Group 105560 171,600 KRW 165,579 KRW -4%
PT Bank Mandiri (Persero) Tbk BMRI 4,220 IDR 8,440 IDR +100%

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Frequently asked questions

Is TBC Bank Group (TBCG) undervalued?
As of Jun 26, 2026, our model estimates a fair value of £89.28 versus a price of £44.64 — about +100% (undervalued). Model-based estimate, not financial advice.
What is the fair value of TBCG?
Our 21-model fair value for TBC Bank Group is £89.28 (as of Jun 26, 2026), built from audited fundamentals. The current price is £44.64.
What is the quality score of TBCG?
TBC Bank Group has a Quality Score of 95/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of TBC Bank Group (TBCG)?
TBC Bank Group reported trailing-twelve-month revenue of about £2.8B (latest available figure, as of Jun 26, 2026).
What is the net profit margin of TBCG?
The net profit margin of TBC Bank Group is about 47.1%, meaning it keeps roughly 47.1% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.