Turkiye Sigorta AS (TURSG) fair value: what the stock is really worth
We calculate from audited financials what Turkiye Sigorta 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 0.2194 TRY – 7.44 TRY · fair‑value band 6.11 TRY – 10.18 TRY · the 6.06 TRY price screens below the 8.14 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.
Türkiye Sigorta A.S. operates as a non-life insurance company in Turkey. It offers auto and non-auto accident, fire, transportation, engineering, health, agriculture, liability, financial losses, credit, and legal protection insurance products. Türkiye Sigorta A.S.
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Türkiye Sigorta A.S. operates as a non-life insurance company in Turkey. It offers auto and non-auto accident, fire, transportation, engineering, health, agriculture, liability, financial losses, credit, and legal protection insurance products. Türkiye Sigorta A.S. was formerly known as Günes Sigorta Anonim Sirketi and changed its name to Türkiye Sigorta A.S. in August 2020. The company was incorporated in 1957 and is based in Istanbul, Turkey. Türkiye Sigorta A.S. operates as a subsidiary of TVF Finansal Yatirimlar AS.
Stock analysis
Turkiye Sigorta AS (TURSG) currently trades at 6.06 TRY, while our model-based Fair Value estimate is 8.14 TRY, implying the stock looks roughly 25.6% undervalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 14.20 TRY per share, and 2 of the 6 models we run sit above the 6.06 TRY price.
Bear case: the Dividend Discount group reads lowest at 1.61 TRY, and 4 of the 6 models stay below the price. Evidence for this calculation is low.
Scenario range: 6.11 TRY (bear) to 10.18 TRY (bull), the price of 6.06 TRY sits below 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 58/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Turkiye Sigorta AS reported revenue of 97.2B TRY in FY2025 versus 5.4B TRY in FY2021, a compound +106.1%/yr. Reported net income was 19.5B TRY in FY2025, compounding +105.9%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 126B TRY (≈ $2.6B) · P/E ratio 5.6 · P/S ratio 1.13 · EPS (TTM) 1.08 TRY · Dividend yield 2.5% · Net margin 20.1% · Return on equity 50.0% · Return on assets (EBIT) 11.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 19% below its 52-week high and 40% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −14% fair-value upside, at 34%, TURSG screens cheaper than that median.
Fair Value models
Bear 6.11 TRYFair Value 8.14 TRYBull 10.18 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 9 months old). Earnings retained since then (0.6599 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.83/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+47.9%
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.
+110.7%
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.
+80.3%
Revenue growth 17 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.
+55.2%
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What shareholders gained per year (last 5 years), in TRY (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. 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.
+28.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+25.6%
Dividend (yield on the price)2.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.55% vs 73%, slowing
Profit margin 2016 to 2021 ⓘ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.−10% → 21%
2025 sits 58% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
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).
−16.9%
Yearly growth needed for the next five years to justify today's price.
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.Insurance - Property & Casualty · 119 stocks
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Cite: Fair Value Calculator (2026). "Turkiye Sigorta AS Fair Value". https://www.fairvalue-calculator.com/stock/TURSG
Frequently asked questions
Is Turkiye Sigorta AS (TURSG) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of 8.14 TRY versus a price of 6.06 TRY, about +34% upside (undervalued).
What is the fair value of TURSG?
Our model-based fair value for Turkiye Sigorta AS is 8.14 TRY (as of Sep 13, 2026), built from audited fundamentals. The current price: 6.06 TRY.
What is the quality score of TURSG?
Turkiye Sigorta AS has a Quality Score of 58/100. 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 Turkiye Sigorta AS (TURSG)?
Our model-based price target is the fair value of 8.14 TRY (as of Sep 13, 2026) from 6 valuation models. Cautious scenario 6.11 TRY, optimistic scenario 10.18 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Turkiye Sigorta AS stock forecast for 2026?
Our models put fair value at 8.14 TRY, about +34% upside versus a price of 6.06 TRY (undervalued). Cautious scenario 6.11 TRY, optimistic scenario 10.18 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Turkiye Sigorta AS (TURSG)?
Turkiye Sigorta AS reported trailing-twelve-month revenue of about 101B TRY (latest available figure, as of Sep 13, 2026).
Does Turkiye Sigorta AS pay a dividend?
Turkiye Sigorta AS currently shows a dividend yield of about 2.48% relative to its recent price (as of Sep 13, 2026).
What growth is priced into Turkiye Sigorta AS (TURSG)?
For today's price to be fair in a discounted-cash-flow model, Turkiye Sigorta AS would have to grow free cash flow by -16.9 % per year for five years (discount rate 12.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +80.3 % per year. As of Sep 13, 2026.
What discount rate (WACC) does the fair value of TURSG use?
Our models discount Turkiye Sigorta AS at 12.7 %: a base by market capitalisation (mid), damped by beta 0.18, 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 Turkiye Sigorta AS that is -16.9 % per year a year over ten years, using the same discount rate (12.7 %) and the same formula as our fair value.
How much growth has Turkiye Sigorta AS (TURSG) delivered so far?
Over the past 5 years revenue at Turkiye Sigorta AS grew +80.3 % a year. The price currently implies -16.9 % 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 Turkiye Sigorta AS (TURSG) growing?
The median revenue growth in the sector is +8.1 % a year. That is the yardstick for the growth priced into Turkiye Sigorta AS (-16.9 % 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 Turkiye Sigorta AS (TURSG)?
The free-cash-flow yield on the price is 14.92 %: that much free cash flow Turkiye Sigorta AS produces per unit of market value. When it exceeds the discount rate of our models (12.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Turkiye Sigorta AS (TURSG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Turkiye Sigorta AS it is 8.14 TRY per share (as of Sep 13, 2026), against a price of 6.06 TRY. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Turkiye Sigorta AS stock overvalued or undervalued in 2026?
As of Sep 13, 2026, TURSG trades below its calculated fair value: price 6.06 TRY, fair value 8.14 TRY, a gap of about +34% (undervalued). 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 TURSG?
No. The price is what the market pays today (6.06 TRY); the fair value is what the company's own numbers justify (8.14 TRY). For Turkiye Sigorta AS the two are 2.08 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Turkiye Sigorta AS worth?
The market values Turkiye Sigorta AS at about 126B TRY (market capitalisation, as of Sep 13, 2026). Per share that is 6.06 TRY; our models calculate a fair value of 8.14 TRY per share.
What do the bullish and bearish scenarios say about TURSG?
Our models span a range for Turkiye Sigorta AS: cautious scenario 6.11 TRY, base 8.14 TRY, optimistic 10.18 TRY per share (as of Sep 13, 2026, price 6.06 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TURSG?
Turkiye Sigorta AS trades at a price-to-earnings ratio of 5.6 (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 8.14 TRY is built from several models across several years. Other multiples: P/B 2.4, P/S 1.2, EV/EBITDA 3.7.
How solid is the balance sheet of Turkiye Sigorta AS (TURSG)?
Balance-sheet figures for Turkiye Sigorta AS (as of Sep 13, 2026): return on equity 50.0%. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is TURSG from its 52-week high?
Turkiye Sigorta AS trades at 6.06 TRY, about 19% below its 52-week high of 7.50 TRY and 40% above the low of 4.33 TRY (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of 8.14 TRY is for.
Which stocks are comparable to Turkiye Sigorta AS?
From the same area (Financial Services) we also value The Progressive Corporation, Chubb Limited, The Travelers Companies, Inc, The Allstate Corporation, 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 Turkiye Sigorta AS stock attractive at the current price?
The data as of Sep 13, 2026: price 6.06 TRY, calculated fair value 8.14 TRY (+34%), Quality Score 58/100, 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 TURSG calculated?
We run Turkiye Sigorta AS 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 8.14 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. Turkiye Sigorta AS currently trades 34 % below its own fair value, and the market average says nothing about that. 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 Turkiye Sigorta AS (TURSG)?
The closing price on Sep 15, 2026 was 6.06 TRY. Our model-based fair value is 8.14 TRY, about +34% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Turkiye Sigorta AS right now?
The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality. 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 Turkiye Sigorta AS
How large is the market capitalisation of Turkiye Sigorta AS (TURSG)?
The market capitalisation of Turkiye Sigorta AS is 126B TRY (≈ $2.6B). 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 Turkiye Sigorta AS (TURSG)?
The price-to-sales ratio of Turkiye Sigorta AS is 1.13 (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 Turkiye Sigorta AS (TURSG)?
Earnings per share at Turkiye Sigorta AS are 1.08 TRY (price ÷ EPS = P/E 5.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Turkiye Sigorta AS (TURSG)?
The dividend yield of Turkiye Sigorta AS is 2.5% (payout 13.9%). 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 Turkiye Sigorta AS (TURSG)?
The net margin of Turkiye Sigorta AS is 20.1% (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 Turkiye Sigorta AS (TURSG)?
The return on equity (ROE) of Turkiye Sigorta AS is 50.0% (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 Turkiye Sigorta AS (TURSG)?
On an EBIT basis the return on assets of Turkiye Sigorta AS is 11.0% (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 Turkiye Sigorta AS (TURSG)?
The operating margin of Turkiye Sigorta AS is 31.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Turkiye Sigorta AS (TURSG)?
Revenue at Turkiye Sigorta AS is growing +32.0% versus a year earlier (3y avg +111%). 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 Turkiye Sigorta AS (TURSG)?
Earnings per share at Turkiye Sigorta AS are growing +45.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Turkiye Sigorta AS (TURSG) hold?
Turkiye Sigorta AS holds more cash than debt, 9.1B TRY net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
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