Tera Yatirim Menkul Degerler A.S. (TERA) Fair Value & Analysis
Financial Services · TR · Market cap 126B TRY
Fair value as of: Aug 1, 2026
From 11 valuation models · updated 9 days ago
Share price +0.4% over the past month.
A solid business, but screening 71% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (64.40 TRY). The favourable scenario is already priced in.
- Solid but not exceptional quality (52/100) 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.
Price vs Fair Value (4 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 1, 2026.
How to read this chart
43‑month range 0.8250 TRY – 396.00 TRY · fair‑value band 38.64 TRY – 64.40 TRY · the 180.00 TRY price screens above the 51.52 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 1, 2026.
Analysis
Tera Yatirim Menkul Degerler A.S. (TERA) currently trades at 180.00 TRY, while our model-based Fair Value estimate is 51.52 TRY, implying the stock looks roughly 71.4% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Tera Yatirim Menkul Degerler A.S. generated revenue of 420B TRY at a net margin of 10.9%. Revenue grew 108.1% year over year. It earns a return on equity of 130.6%. Net debt stands at 5.7B TRY. Fundamentals as of Aug 1, 2026
Our scenario range runs from 38.64 TRY (bear case) to 64.40 TRY (bull case); at 180.00 TRY, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 55% below its 52-week high and 96% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 11% fair-value upside, at -71%, TERA screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 11 models by family
Widest divergence: Earnings-Based (1,867 TRY) versus Asset-Based (29.01 TRY). Highest evidence: Growth DCF (72).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 1, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 51 · Market factors (momentum, volatility) 54
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Tera Yatirim Menkul Degerler A.S. engages in investment banking and brokerage activities in Turkey. The company offers institutional sales and trading services for mutual funds, hedge funds, and alpha capture funds investors; private sales and trading services, as well as personalized financial advisory services, stocks, bonds, and funds; and investment …
Full company description
Tera Yatirim Menkul Degerler A.S. engages in investment banking and brokerage activities in Turkey. The company offers institutional sales and trading services for mutual funds, hedge funds, and alpha capture funds investors; private sales and trading services, as well as personalized financial advisory services, stocks, bonds, and funds; and investment banking services, such as initial public offering underwriting, debt instrument issuance facilitation, capital increase support, company valuation, financing options, and merger and acquisition consultancy. It is also involved in facilitating share purchase offers, exit rights, and rights to withdraw from partnership/sell; and managing the process of wholesale market transactions and the process of sales to corporate and qualified investors. The company was incorporated in 1990 and is headquartered in Istanbul, Turkey.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Tera Yatirim Menkul Degerler A.S. reported revenue of 414B TRY in FY2025 versus 1.4B TRY in FY2021, a compound +311.5%/yr. Reported net income was 37.3B TRY in FY2025, compounding +481.2%/yr from FY2021.
TERA screens 71% overvalued. Compare with Huatai Securities Co →
Peer Group
Capital Markets · 422 stocks
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.
Valuation Multiples vs Capital Markets median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Aug 1, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Huatai Securities Co HTSC | $0.2700 | $0.0400 | -85% |
| Mirae Asset Securities Co 006800 | 38,750 KRW | 31,645 KRW | -18% |
| Meritz Financial Group 138040 | 117,000 KRW | 87,706 KRW | -25% |
| Korea Investment Holdings 071050 | 239,000 KRW | 318,825 KRW | +33% |
| NH Investment & Securities Co 005940 | 31,000 KRW | 37,133 KRW | +20% |
| Samsung Securities Co 016360 | 107,700 KRW | 126,487 KRW | +17% |
| Motilal Oswal Financial Services Limited MOTILALOFS | ₹967.00 | ₹299.65 | -69% |
| Kiwoom Securities Co 039490 | 322,000 KRW | 358,091 KRW | +11% |
| SSI Securities Corporation SSI | 24,250 VND | 28,021 VND | +16% |
| Bolsas y Mercados Argentinos S.A BYMA | 313.75 ARS | 120.22 ARS | -62% |
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Frequently asked questions
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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.
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