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Vakif Finansal Kiralama A.S. (VAKFN) Fair Value & Analysis

Financial Services · TR · Market cap 7.3B TRY

VF Vakif Finansal Kiralama A.S. VAKFN · IS
Price1.21 TRY
Fair Value2.06 TRY
Upside+70.0%
Quality29/100
Mixed Growth
Highly profitable · 100.8% net margin
High debt · negative free cash flow
Ranks above peers (8/12)
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Evidence: Medium Range 1.55 TRY – 2.58 TRY Share as image

Fair value as of: Aug 2, 2026

From 14 valuation models · updated today

Share price −11.5% over the past month.

Below-average quality, and the price sits 70% below our fair value.

What matters now

  • The large discount to fair value meets weak quality (29/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (1.55 TRY). The market is more pessimistic than our downside scenario.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

2.06 TRY 0.2654 TRY Fair Value 2.06 TRY Apr 2021 Jul 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

60‑month range 0.2654 TRY – 2.06 TRY · fair‑value band 1.55 TRY – 2.58 TRY · the 1.21 TRY price screens below the 2.06 TRY fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Vakif Finansal Kiralama A.S. (VAKFN) currently trades at 1.21 TRY, while our model-based Fair Value estimate is 2.06 TRY, implying the stock looks roughly 70.0% undervalued today. We read business quality at 29/100 (below-average 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: medium), always confirm before acting.

Trailing-twelve-month revenue stands at 1.6B TRY. Revenue grew 19.0% year over year. It earns a return on equity of 23.8%. Net debt stands at 26.0B TRY. Fundamentals as of Aug 2, 2026

Our scenario range runs from 1.55 TRY (bear case) to 2.58 TRY (bull case); at 1.21 TRY, the current price sits below that range. The share trades about 43% below its 52-week high and 3% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -41% fair-value upside, at 70%, VAKFN screens cheaper 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.

Model BearBaseBull Evidence
Highest evidence
Growth-Adj P/E 8.05 TRY 11.49 TRY 14.94 TRY 68
P/E Multiple 3.82 TRY 5.10 TRY 6.37 TRY 63
Residual Income 1.63 TRY 2.18 TRY 9.20 TRY 61
All 12 models by family
Earnings-Based
Graham-Dodd 1.73 TRY 12.09 TRY 16.96 TRY 54
Lynch FV 6.24 TRY 8.92 TRY 11.60 TRY 50
PEG = 1.0 6.24 TRY 8.92 TRY 11.60 TRY 46
Multiples
P/E Multiple 3.82 TRY 5.10 TRY 6.37 TRY 63
P/S Multiple 1.80 TRY 2.40 TRY 3.01 TRY 58
P/B Multiple 2.80 TRY 3.73 TRY 4.66 TRY 55
EV/EBIT 0.5900 TRY 1.70 TRY 2.82 TRY 53
EV/EBITDA 0.4700 TRY 1.28 TRY 54
EV/Revenue 0.3800 TRY 43
Asset-Based
NCAV (Graham) 0.6200 TRY 0.8300 TRY 1.24 TRY 50
Economic Profit
Residual Income 1.63 TRY 2.18 TRY 9.20 TRY 61
Growth Earnings
Growth-Adj P/E 8.05 TRY 11.49 TRY 14.94 TRY 68

Widest divergence: Growth Earnings (11.49 TRY) versus Asset-Based (0.8300 TRY). Highest evidence: Growth-Adj P/E (68).

Key figures & financial health

Revenue (TTM) 1.6B TRY
Revenue growth (YoY) +19.0%
Net margin 101%
Return on equity 23.8%
Free cash flow −367M TRY FY2025
P/E ratio 3.8
More key figures
Operating margin 87.4%
EPS (TTM) 0.3200 TRY
EPS growth (YoY) +63.7%
Net debt 26.0B TRY FY2025

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 29/100

Of which business quality 28 · Market factors (momentum, volatility) 28

Profitability 45
Margins and returns on capital today
Quality Growth 31
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 21
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 11
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

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

Vakif Finansal Kiralama A.S. engages in the provision of financial leasing services in Turkey. It also offers financial intermediation to SMEs and investors. The company was founded in 1988 and is headquartered in Istanbul, Turkey. Vakif Finansal Kiralama A.S. is a subsidiary of Türkiye Vakiflar Bankasi Türk Anonim Ortakligi.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Vakif Finansal Kiralama A.S. reported revenue of 5.8B TRL in FY2025 versus 369M TRL in FY2021, a compound +98.9%/yr. Reported net income was 1.5B TRL in FY2025, compounding +85.9%/yr from FY2021.

Growth Quality 54/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
5.8B TRY
Latest YoY
−14.5%
Avg. growth/yr (3Y)
+73.4%
Avg. growth/yr (5Y)
+84.9%
Avg. growth/yr (25Y)
−29.5%
Revenue +98.9%/yr
FY21 369M TRL
FY22 1.1B TRL
FY23 3.9B TRL
FY24 6.8B TRL
FY25 5.8B TRL
Net income +85.9%/yr
FY21 128M TRL
FY22 519M TRL
FY23 1.4B TRL
FY24 1.7B TRL
FY25 1.5B TRL

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Cite: Fair Value Calculator (2026). "Vakif Finansal Kiralama A.S. Fair Value". https://www.fairvalue-calculator.com/stock/VAKFN

Peer Group

Credit Services · 332 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.

Quality Score 29 · Bottom 25%
Fair Value upside +70% · Top 25%
Return on equity (TTM) 24% · Top 25%
Return on assets 5% · Top 25%
Net margin (TTM) 101% · Top 25%
Operating margin (TTM) 87% · Top 25%
Revenue growth 19% · Above median
Debt / equity 2.23× · Higher than median

Valuation Multiples vs Credit Services median · lower = cheaper

P/E (TTM) 3.8× · Cheaper than 75% of peers
P/B 0.97× · Cheaper than median
P/S (TTM) 4.43× · Pricier than median
EV/EBITDA 93.6× · Pricier than 75% of peers

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 100 / 35
FUTURE 95 / 39
PAST 95 / 31
HEALTH 0 / 58
DIVIDEND 0 / 51

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Credit Services stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
Visa Inc V $348.97 $204.19 -41%
Mastercard Incorporated MA $537.70 $221.87 -59%
American Express Company AXP $358.44 $206.40 -42%
Bajaj Finance Limited BAJFINANCE ₹1,056 ₹397.61 -62%
Shriram Finance Limited SHRIRAMFIN ₹1,024 ₹553.83 -46%
Cholamandalam Investment and Finance Company CHOLAFIN ₹1,808 ₹796.52 -56%
Tata Capital Limited TATACAP ₹360.60 ₹229.85 -36%
Power Finance Corporation PFC ₹405.10 ₹810.20 +100%
Muthoot Finance Limited MUTHOOTFIN ₹3,129 ₹3,463 +11%
Indian Railway Finance Corporation IRFC ₹88.41 ₹69.72 -21%

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Frequently asked questions

Is Vakif Finansal Kiralama A.S. (VAKFN) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of 2.06 TRY versus a price of 1.21 TRY, about +70% (undervalued).
What is the fair value of VAKFN?
Our model-based fair value for Vakif Finansal Kiralama A.S. is 2.06 TRY (as of Aug 2, 2026), built from audited fundamentals. The current price is 1.21 TRY.
What is the quality score of VAKFN?
Vakif Finansal Kiralama A.S. has a Quality Score of 29/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Vakif Finansal Kiralama A.S. (VAKFN)?
Vakif Finansal Kiralama A.S. reported trailing-twelve-month revenue of about 1.6B TRY (latest available figure, as of Aug 2, 2026).
What is the net profit margin of VAKFN?
The net profit margin of Vakif Finansal Kiralama A.S. is about 100.8%, meaning it keeps roughly 100.8% 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.

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