Turkiye Vakiflar Bankasi TAO (VAKBN) fair value: what the stock is really worth
As of Oct 30, 2026: fair value (intrinsic value) of Turkiye Vakiflar Bankasi TAO stock TRY 61.76, price TRY 28.88, upside +113.9%, quality 39 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with oneYes, for free
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Oct 28, 2026.
How to read this chart
60‑month range 3.22 TRY – 42.22 TRY · fair‑value band 46.32 TRY – 77.20 TRY · the 28.88 TRY price screens below the 61.76 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 28, 2026.
Follow Turkiye Vakiflar Bankasi TAO in your weekly email
Every Wednesday you see whether Turkiye Vakiflar Bankasi TAO is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Türkiye Vakiflar Bankasi Türk Anonim Ortakligi, together with its subsidiaries, provides corporate, commercial, SME, agricultural, and modern banking products and services in Turkey and internationally.
Show moreShow less
It offers time, demand, and term deposits accounts; mortgage, car, personal, and private banking yacht loans; housing, comprehensive, motor, compulsory traffic, travel and complementary health, and compulsory earthquake insurance; and individual pension contract, private pension agreement, and life insurance products.
The company also provides investment products, such as investment funds, Government Bonds and treasury bills, eurobond, bank bonds, gold trading, VakifBank Gold, stocks, VIOP, safe deposit boxes, options, dual currency deposit, contingent option, currency swap, and forward agreements.
In addition, it offers export / import transactions, foreign currency transfer, Eximbank Loans, and foreign trade solutions; money transfer services; and factoring and leasing services, as well as digital banking services. The company was incorporated in 1954 and is headquartered in Istanbul, Turkey.
Stock analysis
Turkiye Vakiflar Bankasi TAO (VAKBN) currently trades at 28.88 TRY, while our model-based Fair Value estimate is 61.76 TRY, implying the stock looks roughly 53.2% undervalued today.
Show more
Valuation
Bull case: the Multiples group reads highest at a median of 46.12 TRY per share, and 3 of the 4 models we run sit above the 28.88 TRY price.
Bear case: the Asset-Based group reads lowest at 22.07 TRY, and 1 of the 4 models stay below the price. Data coverage for this calculation is low.
Scenario range: 46.32 TRY (bear) to 77.20 TRY (bull), the price of 28.88 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 39/100 (below-average quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Turkiye Vakiflar Bankasi TAO reported revenue of 251B TRL in FY2025 versus 21.1B TRL in FY2021, a compound +85.6%/yr. Reported net income was 77.2B TRL in FY2025, compounding +96.6%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 297B TRY (≈ $5.9B) Mid · P/E ratio 3.7 · P/S ratio 1.12 · EPS (TTM) 7.86 TRY · Net margin 28.8% · Return on equity 24.8% · Return on assets (EBIT) 1.4% · Operating margin 33.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 74 out of 100 (low confidence).
What moves the price
The share trades about 32% below its 52-week high and 20% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −31% fair-value upside, at 114%, VAKBN screens cheaper than that median.
Fair Value models
Bear46.32 TRYFair Value 61.76 TRYBull77.20 TRY
Price 28.88 TRY · Upside +113.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (6.55 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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
+60.1%
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.
+38.9%
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.
+61.3%
Start year 2020 (pandemic). Over 10 years: +43.6% a year
Revenue growth 25 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.
−29.8%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
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.
+88.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+88.8%
Dividend (yield on the price)0.0%
2025 sits 114% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Compare Turkiye Vakiflar Bankasi TAO with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
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 · 1055 stocks
Beats the industry median on 9/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score39 · Bottom 25%
Fair Value upside+113.9% · Top 25%
Profitability
Return on equity (12 months)24.8% · Top 25%
Return on assets1.4% · Top 25%
Net margin (12 months)28.8% · Below median
Operating margin (12 months)33.8% · Below median
Growth and dividend
Revenue growth (quarter YoY)40.7% · Top 25%
Balance sheet
Debt / equity0.19× · Below median
Valuation Multiplesvs Banks - Regional median · lower = cheaper
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.
Cite: Fair Value Calculator (2026). "Turkiye Vakiflar Bankasi TAO Fair Value". https://www.fairvalue-calculator.com/stock/VAKBN
Frequently asked questions
Is Turkiye Vakiflar Bankasi TAO (VAKBN) overvalued or undervalued?
As of Oct 28, 2026, our model estimates a fair value of 61.76 TRY versus a price of 28.88 TRY, about +114% upside (undervalued).
What is the fair value of VAKBN?
Our model-based fair value for Turkiye Vakiflar Bankasi TAO is 61.76 TRY (as of Oct 28, 2026), built from audited fundamentals. The current price: 28.88 TRY.
What is the quality score of VAKBN?
Turkiye Vakiflar Bankasi TAO has a Quality Score of 39/100. 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 Vakiflar Bankasi TAO (VAKBN)?
Our model-based price target is the fair value of 61.76 TRY (as of Oct 28, 2026) from 4 valuation models. Cautious scenario 46.32 TRY, optimistic scenario 77.20 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Turkiye Vakiflar Bankasi TAO stock forecast for 2026?
Our models put fair value at 61.76 TRY, about +114% upside versus a price of 28.88 TRY (undervalued). Cautious scenario 46.32 TRY, optimistic scenario 77.20 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Turkiye Vakiflar Bankasi TAO (VAKBN)?
Turkiye Vakiflar Bankasi TAO reported trailing-twelve-month revenue of about 265B TRY (latest available figure, as of Oct 28, 2026).
What is the intrinsic value of Turkiye Vakiflar Bankasi TAO (VAKBN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Turkiye Vakiflar Bankasi TAO it is 61.76 TRY per share (as of Oct 28, 2026), against a price of 28.88 TRY. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Turkiye Vakiflar Bankasi TAO stock overvalued or undervalued in 2026?
As of Oct 28, 2026, VAKBN trades below its calculated fair value: price 28.88 TRY, fair value 61.76 TRY, a gap of about +114% (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 VAKBN?
No. The price is what the market pays today (28.88 TRY); the fair value is what the company's own numbers justify (61.76 TRY). For Turkiye Vakiflar Bankasi TAO the two are 32.88 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Turkiye Vakiflar Bankasi TAO worth?
The market values Turkiye Vakiflar Bankasi TAO at about 297B TRY (market capitalisation, as of Oct 28, 2026). Per share that is 28.88 TRY; our models calculate a fair value of 61.76 TRY per share.
What do the bullish and bearish scenarios say about VAKBN?
Our models span a range for Turkiye Vakiflar Bankasi TAO: cautious scenario 46.32 TRY, base 61.76 TRY, optimistic 77.20 TRY per share (as of Oct 28, 2026, price 28.88 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of VAKBN?
Turkiye Vakiflar Bankasi TAO trades at a price-to-earnings ratio of 3.7 (as of Oct 28, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 61.76 TRY is built from several models across several years. Other multiples: PEG 0.4, P/B 0.9, P/S 1.1.
What is the PEG ratio of VAKBN?
The PEG ratio of Turkiye Vakiflar Bankasi TAO is 0.45 (P/E divided by earnings growth, as of Oct 28, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Turkiye Vakiflar Bankasi TAO (VAKBN)?
Balance-sheet figures for Turkiye Vakiflar Bankasi TAO (as of Oct 28, 2026): return on equity 24.8%, debt of 0.19 per unit of equity. They feed the Quality Score of 39/100, which measures business quality independently of the share price.
How far is VAKBN from its 52-week high?
Turkiye Vakiflar Bankasi TAO trades at 28.88 TRY, about 32% below its 52-week high of 42.22 TRY and 20% above the low of 23.98 TRY (as of Oct 30, 2026). Distance from the high says nothing about value: that is what the fair value of 61.76 TRY is for.
Which stocks are comparable to Turkiye Vakiflar Bankasi TAO?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, UniCredit S.p.A, Mizuho Financial Group, 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 Vakiflar Bankasi TAO stock attractive at the current price?
The data as of Oct 28, 2026: price 28.88 TRY, calculated fair value 61.76 TRY (+114%), Quality Score 39/100, from 4 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 VAKBN calculated?
We run Turkiye Vakiflar Bankasi TAO through 4 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 61.76 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 13.4 % above its aggregate fair value. Turkiye Vakiflar Bankasi TAO currently trades 53 % 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 Vakiflar Bankasi TAO (VAKBN)?
The closing price on Oct 30, 2026 was 28.88 TRY. Our model-based fair value is 61.76 TRY, about +114% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Turkiye Vakiflar Bankasi TAO right now?
The large discount to fair value meets weak quality (39/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (46.32 TRY). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. 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 Vakiflar Bankasi TAO
How large is the market capitalisation of Turkiye Vakiflar Bankasi TAO (VAKBN)?
The market capitalisation of Turkiye Vakiflar Bankasi TAO is 297B TRY (≈ $5.9B). 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 Turkiye Vakiflar Bankasi TAO (VAKBN)?
The price-to-sales ratio of Turkiye Vakiflar Bankasi TAO is 1.12 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Turkiye Vakiflar Bankasi TAO (VAKBN)?
Earnings per share at Turkiye Vakiflar Bankasi TAO are 7.86 TRY (price ÷ EPS = P/E 3.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Turkiye Vakiflar Bankasi TAO (VAKBN)?
The net margin of Turkiye Vakiflar Bankasi TAO is 28.8% (last twelve months). 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 Vakiflar Bankasi TAO (VAKBN)?
The return on equity (ROE) of Turkiye Vakiflar Bankasi TAO is 24.8% (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 Vakiflar Bankasi TAO (VAKBN)?
On an EBIT basis the return on assets of Turkiye Vakiflar Bankasi TAO is 1.4% (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 Vakiflar Bankasi TAO (VAKBN)?
The operating margin of Turkiye Vakiflar Bankasi TAO is 33.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Turkiye Vakiflar Bankasi TAO (VAKBN)?
Revenue at Turkiye Vakiflar Bankasi TAO is growing +40.7% versus a year earlier (3y avg +38.9%). 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 Vakiflar Bankasi TAO (VAKBN)?
Earnings per share at Turkiye Vakiflar Bankasi TAO are growing +31.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Turkiye Vakiflar Bankasi TAO (VAKBN) generate?
The free cash flow of Turkiye Vakiflar Bankasi TAO is −116B TRY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Turkiye Vakiflar Bankasi TAO (VAKBN) carry?
The net debt of Turkiye Vakiflar Bankasi TAO is 13.2B TRY (fiscal year 2023). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Turkiye Vakiflar Bankasi TAO in the live analysis
One click puts Turkiye Vakiflar Bankasi TAO on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 28,000+ stock screener.
Thin data
Oct 28, 2026