Banca Transilvania S.A. (TLV) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Banca Transilvania S.A. RON 33.73, price RON 34.60, upside -2.5%, quality 46 out of 100. Calculated from audited financials with 26 valuation models and 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 24, 2026.
How to read this chart
60‑month range 8.87 RON – 38.30 RON · fair‑value band 24.76 RON – 51.63 RON · the 34.60 RON price screens above the 33.73 RON fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Banca Transilvania S.A. provides various banking products and services in Romania, Italy, and the Republic of Moldova.
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Banca Transilvania S.A. provides various banking products and services in Romania, Italy, and the Republic of Moldova. The company operates through Large Corporate Clients, Medium Corporate Customers, SME clients, Micro Business clients, Retail customers, Treasury, Leasing and consumer finance granted by non-banking financial institutions, and Other segments. It offers transactional banking products, current account subscriptions, bancassurance products, debit and credit cards, deposits and savings accounts, consumer loans and mortgages, and ATM services to children, students, and employees. The company also provides transaction banking, treasury, trade finance, and retail products, as well as asset management, merger and acquisition consultancy, and capital market advisory services to legal and public entities, and financial institutions. In addition, it offers lending, current and treasury operations; bonus packages, structured finance, and co-financing of EU-funded projects; and bancassurance, and financial and operating leasing services, as well as lease facilities, microfinance, brokerage, factoring, and real estate services. Further, the company provides loans for working capital or investments, letters of guarantee, EU project co-financing, invoice discounting, and factoring; general and FX operations, incoming and outgoing payments, cheques, promissory notes, and salary payment agreements; and internet and mobile banking, e-commerce, POSs and, the integration service of financial data to limited liability companies, freelancers, and sole proprietorships. Additionally, it offers services to companies that have undergone the incipient growth stages and whose business activity requires further attention. Banca Transilvania S.A. was incorporated in 1993 and is headquartered in Cluj-Napoca, Romania.
Stock analysis
Banca Transilvania S.A. (TLV) currently trades at 34.60 RON, while our model-based Fair Value estimate is 33.73 RON, implying the stock looks roughly 2.6% fairly valued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 37.65 RON per share, and 2 of the 6 models we run sit above the 34.60 RON price.
Bear case: the Dividend Discount group reads lowest at 13.00 RON, and 4 of the 6 models stay below the price. Evidence for this calculation is medium.
Scenario range: 24.76 RON (bear) to 51.63 RON (bull), the price of 34.60 RON 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 46/100 (below-average quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Banca Transilvania S.A. reported revenue of 11.8B RON in FY2025 versus 5.5B RON in FY2021, a compound +20.9%/yr. Reported net income was 4.7B RON in FY2025, compounding +23.8%/yr from FY2021.
Key figures
Market cap 41.1B RON (≈ $8.9B) · P/E ratio 7.7 · P/S ratio 3.06 · EPS (TTM) 4.47 RON · Dividend yield 5.6% · Net margin 39.6% · Return on equity 23.2% · Return on assets (EBIT) 2.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (medium confidence).
What moves the price
The share trades about 10% below its 52-week high and 33% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −38% fair-value upside, at −3%, TLV screens cheaper than that median.
Fair Value models
Bear 24.76 RONFair Value 33.73 RONBull 51.63 RON
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 9 months old). Earnings retained since then (1.86 RON 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
+16.0%
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.
+17.8%
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.
+18.7%
Start year 2020 (pandemic)
Revenue growth 6 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.
+16.6%
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What shareholders gained per year (last 5 years) (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.
+23.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+17.4%
Dividend (yield on the price)5.6%
2024 sits 55% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Compare Banca Transilvania S.A. 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.Banks - Regional · 1074 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score50 · Below median
Fair Value upside−3% · Above median
Profitability
Return on equity (TTM)23% · Top 25%
Return on assets2% · Top 25%
Net margin (TTM)42% · Top 25%
Operating margin (TTM)48% · Above median
Growth and dividend
Revenue growth15% · Above median
Dividend yield (TTM)5.6% · Top 25%
Balance sheet
Debt / equity0.21× · Below median
Valuation Multiplesvs Banks - Regional median · lower = cheaper
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Is Banca Transilvania S.A. (TLV) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 33.73 RON versus a price of 34.60 RON, about −3% upside (fairly valued).
What is the fair value of TLV?
Our model-based fair value for Banca Transilvania S.A. is 33.73 RON (as of Sep 24, 2026), built from audited fundamentals. The current price: 34.60 RON.
What is the quality score of TLV?
Banca Transilvania S.A. has a Quality Score of 46/100. 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 Banca Transilvania S.A. (TLV)?
Our model-based price target is the fair value of 33.73 RON (as of Sep 24, 2026) from 6 valuation models. Cautious scenario 24.76 RON, optimistic scenario 51.63 RON. It is a calculation from audited fundamentals, not an analyst target.
What is the Banca Transilvania S.A. stock forecast for 2026?
Our models put fair value at 33.73 RON, about −3% upside versus a price of 34.60 RON (fairly valued). Cautious scenario 24.76 RON, optimistic scenario 51.63 RON. The calculation is refreshed regularly with new filings.
What is the revenue of Banca Transilvania S.A. (TLV)?
Banca Transilvania S.A. reported trailing-twelve-month revenue of about 11.3B RON (latest available figure, as of Sep 24, 2026).
Does Banca Transilvania S.A. pay a dividend?
Banca Transilvania S.A. currently shows a dividend yield of about 5.57% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Banca Transilvania S.A. (TLV)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Banca Transilvania S.A. it is 33.73 RON per share (as of Sep 24, 2026), against a price of 34.60 RON. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Banca Transilvania S.A. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, TLV trades above its calculated fair value: price 34.60 RON, fair value 33.73 RON, a gap of about −3% (fairly valued). 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 TLV?
No. The price is what the market pays today (34.60 RON); the fair value is what the company's own numbers justify (33.73 RON). For Banca Transilvania S.A. the two are 0.8700 RON per share apart. That gap is exactly why we show both numbers side by side.
How much is Banca Transilvania S.A. worth?
The market values Banca Transilvania S.A. at about 41.1B RON (market capitalisation, as of Sep 24, 2026). Per share that is 34.60 RON; our models calculate a fair value of 33.73 RON per share.
What do the bullish and bearish scenarios say about TLV?
Our models span a range for Banca Transilvania S.A.: cautious scenario 24.76 RON, base 33.73 RON, optimistic 51.63 RON per share (as of Sep 24, 2026, price 34.60 RON). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TLV?
Banca Transilvania S.A. trades at a price-to-earnings ratio of 7.7 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 33.73 RON is built from several models across several years. Other multiples: PEG 2.5, P/B 0.4, P/S 0.8.
What is the PEG ratio of TLV?
The PEG ratio of Banca Transilvania S.A. is 2.48 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Banca Transilvania S.A. (TLV)?
Balance-sheet figures for Banca Transilvania S.A. (as of Sep 24, 2026): return on equity 23.2%, debt of 0.21 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is TLV from its 52-week high?
Banca Transilvania S.A. trades at 34.60 RON, about 10% below its 52-week high of 38.30 RON and 33% above the low of 25.96 RON (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 33.73 RON is for.
Which stocks are comparable to Banca Transilvania S.A.?
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 Banca Transilvania S.A. stock attractive at the current price?
The data as of Sep 24, 2026: price 34.60 RON, calculated fair value 33.73 RON (−3%), Quality Score 46/100, 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 TLV calculated?
We run Banca Transilvania S.A. 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 33.73 RON, 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 14.1 % above its aggregate fair value. Banca Transilvania S.A. 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 Banca Transilvania S.A. (TLV)?
The closing price on Sep 23, 2026 was 34.60 RON. Our model-based fair value is 33.73 RON, about −3% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Banca Transilvania S.A. right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (24.76 RON to 51.63 RON) leaves room in how you read the outcome. 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 Banca Transilvania S.A.
How large is the market capitalisation of Banca Transilvania S.A. (TLV)?
The market capitalisation of Banca Transilvania S.A. is 41.1B RON (≈ $8.9B). 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 Banca Transilvania S.A. (TLV)?
The price-to-sales ratio of Banca Transilvania S.A. is 3.06 (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 Banca Transilvania S.A. (TLV)?
Earnings per share at Banca Transilvania S.A. are 4.47 RON (price ÷ EPS = P/E 7.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Banca Transilvania S.A. (TLV)?
The dividend yield of Banca Transilvania S.A. is 5.6% (payout 43.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Banca Transilvania S.A. (TLV)?
The net margin of Banca Transilvania S.A. is 39.6% (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 Banca Transilvania S.A. (TLV)?
The return on equity (ROE) of Banca Transilvania S.A. is 23.2% (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 Banca Transilvania S.A. (TLV)?
On an EBIT basis the return on assets of Banca Transilvania S.A. is 2.2% (avg 3y). 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 Banca Transilvania S.A. (TLV)?
The operating margin of Banca Transilvania S.A. is 47.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Banca Transilvania S.A. (TLV)?
Revenue at Banca Transilvania S.A. is growing +15.2% versus a year earlier (3y avg +17.8%). 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 Banca Transilvania S.A. (TLV)?
Earnings per share at Banca Transilvania S.A. are growing +27.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Banca Transilvania S.A. (TLV) generate?
The free cash flow of Banca Transilvania S.A. is −4.5B RON (fiscal year 2024). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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