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Yapi ve Kredi Bankasi A.S., (YKBNK) Fair Value & Analysis

Financial Services · TR · Market cap 277B TRY

YV Yapi ve Kredi Bankasi A.S., YKBNK · IS
Price32.76 TRY
Fair Value65.52 TRY
Upside+100.0%
Quality45/100
Expensive Growth
Highly profitable · 26.6% net margin
Low debt · negative free cash flow
Ranks above peers (10/12)
Wide moat 81/100
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Evidence: High Range 49.14 TRY – 81.90 TRY Share as image

Fair value as of: Aug 2, 2026

From 15 valuation models · updated today

Share price −19.3% over the past month.

Below-average quality, and the price sits 100% below our fair value.

What matters now

  • The price is below even our cautious bear case (49.14 TRY). The market is more pessimistic than our downside scenario.
  • Solid quality (45/100) 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.
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Price vs Fair Value (5 years)

44.02 TRY 1.79 TRY Fair Value 65.52 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 1.79 TRY – 44.02 TRY · fair‑value band 49.14 TRY – 81.90 TRY · the 32.76 TRY price screens below the 65.52 TRY fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Yapi ve Kredi Bankasi A.S., (YKBNK) currently trades at 32.76 TRY, while our model-based Fair Value estimate is 65.52 TRY, implying the stock looks roughly 100.0% undervalued today. We read business quality at 45/100 (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: high), always confirm before acting.

Over the trailing twelve months, Yapi ve Kredi Bankasi A.S., generated revenue of 210B TRY at a net margin of 26.6%. Revenue grew 55.4% year over year. It earns a return on equity of 23.5%. Net debt stands at 287B TRY. Fundamentals as of Aug 2, 2026

Our scenario range runs from 49.14 TRY (bear case) to 81.90 TRY (bull case); at 32.76 TRY, the current price sits below that range. The share trades about 26% below its 52-week high and 21% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at 100%, YKBNK 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
Residual Income 38.47 TRY 50.97 TRY 206.51 TRY 76
ROIC Compounder 74.21 TRY 74.68 TRY 75.09 TRY 72
Growth-Adj P/E 100.51 TRY 143.59 TRY 186.66 TRY 68
All 15 models by family
DCF Models
Owner Earnings 152.02 TRY 254.25 TRY 473.03 TRY 31
Earnings-Based
Graham-Dodd 37.91 TRY 252.27 TRY 353.30 TRY 54
Lynch FV 73.71 TRY 105.31 TRY 136.90 TRY 50
PEG = 1.0 73.71 TRY 105.31 TRY 136.90 TRY 46
EPV 74.21 TRY 74.68 TRY 75.09 TRY 59
Multiples
P/E Multiple 83.62 TRY 111.49 TRY 139.37 TRY 63
P/S Multiple 52.97 TRY 70.63 TRY 88.28 TRY 58
P/B Multiple 68.09 TRY 90.78 TRY 113.48 TRY 55
EV/EBIT 78.68 TRY 81.05 TRY 83.41 TRY 53
EV/EBITDA 78.00 TRY 80.13 TRY 82.27 TRY 54
EV/Revenue 76.37 TRY 78.42 TRY 80.47 TRY 43
Asset-Based
NCAV (Graham) 15.13 TRY 20.27 TRY 30.26 TRY 50
Economic Profit
Residual Income 38.47 TRY 50.97 TRY 206.51 TRY 76
ROIC Compounder 74.21 TRY 74.68 TRY 75.09 TRY 72
Growth Earnings
Growth-Adj P/E 100.51 TRY 143.59 TRY 186.66 TRY 68

Widest divergence: DCF Models (254.25 TRY) versus Asset-Based (20.27 TRY). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 210B TRY
Revenue growth (YoY) +55.4%
Net margin 26.6%
Return on equity 23.5%
Free cash flow −117B TRY FY2025
P/E ratio 5.9
More key figures
Operating margin 43.1%
EPS (TTM) 5.59 TRY
EPS growth (YoY) +77.7%
Net debt 287B TRY FY2025

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

Quality Score breakdown

Overall quality 45/100

Of which business quality 42 · Market factors (momentum, volatility) 45

Profitability 35
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 61
Balance sheet, leverage, solvency risk
Investment 32
Disciplined investing over empire-building
Low Volatility 69
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 32
Distance to the 52-week high (market factor)
Net Issuance 82
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

Yapi ve Kredi Bankasi A.S., together with its subsidiaries, provides commercial banking and financial products and services in Turkey and internationally. It operates through three segments: Retail Banking; Corporate Banking; and Commercial and SME Banking.

Full company description

Yapi ve Kredi Bankasi A.S., together with its subsidiaries, provides commercial banking and financial products and services in Turkey and internationally. It operates through three segments: Retail Banking; Corporate Banking; and Commercial and SME Banking. The Retail Banking segment offers banking products and services, such as card payment systems; individual portfolio; blue class; private and gold banking; general purpose, commercial installments, and auto loans; mortgages; time and demand deposits; investment accounts; life and non-life insurance products; wealth management activities; and payroll services. This segment also provides time deposit products, mutual funds, foreign exchange, and gold and equity trading services; and personal art, inheritance, real estate, tax, education, and philanthropic advisory services. The Corporate, Commercial, and SME Banking segment offers corporate banking for large-scale, international, and multinational companies; commercial banking for medium-sized enterprises; and SME banking, such as SME loans and banking packages products for SME companies. This segment also provides working capital, trade, and project finance, as well as domestic and international non-cash loans comprising letters of credit and guarantee, cash management, and internet banking services; and financial and equity management advisory services. It offers custody, leasing, investment and portfolio management, and factoring services. The company also provides money transfer; debit, world, business cards; home loan; checks and promissory notes services; and SME loans. It serves customers through ATMs; and telephone, Internet, and mobile banking services. The was incorporated in 1944 and is headquartered in Istanbul, Turkey. Yapi ve Kredi Bankasi A.S. operates as a subsidiary of Koç Holding A.S.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Yapi ve Kredi Bankasi A.S., reported revenue of 239B TRL in FY2025 versus 35.0B TRL in FY2021, a compound +61.6%/yr. Reported net income was 47.1B TRL in FY2025, compounding +45.6%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
239B TRY
Latest YoY
+59.1%
Avg. growth/yr (3Y)
+29.8%
Avg. growth/yr (5Y)
+56.0%
Avg. growth/yr (25Y)
−30.4%
Revenue +61.6%/yr
FY21 35.0B TRL
FY22 109B TRL
FY23 157B TRL
FY24 150B TRL
FY25 239B TRL
Net income +45.6%/yr
FY21 10.5B TRL
FY22 52.7B TRL
FY23 68.0B TRL
FY24 29.0B TRL
FY25 47.1B TRL

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Cite: Fair Value Calculator (2026). "Yapi ve Kredi Bankasi A.S., Fair Value". https://www.fairvalue-calculator.com/stock/YKBNK

Peer Group

Banks - Regional · 1093 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 49 · Bottom 25%
Fair Value upside +100% · Top 25%
Return on equity (TTM) 23% · Top 25%
Return on assets 2% · Top 25%
Net margin (TTM) 27% · Below median
Operating margin (TTM) 43% · Above median
Revenue growth 55% · Top 25%
Debt / equity 0.17× · Lower than median

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 5.9× · Cheaper than 75% of peers
P/B 1.08× · Cheaper than median
P/S (TTM) 1.32× · Cheaper than 75% of peers
PEG 0.43× · Cheaper 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 / 39
FUTURE 100 / 44
PAST 94 / 40
HEALTH 92 / 84
DIVIDEND 0 / 49

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 Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
PT Bank Central Asia Tbk BBCA 6,175 IDR 6,087 IDR -1%
KB Financial Group 105560 184,400 KRW 213,797 KRW +16%
PT Bank Rakyat Indonesia (Persero) Tbk BBRI 2,970 IDR 4,891 IDR +65%
PT Bank Mandiri (Persero) Tbk BMRI 4,310 IDR 7,841 IDR +82%
Banco Bradesco S.A BBD 5,120 ARS 10,240 ARS +100%
Shinhan Financial Group 055550 107,900 KRW 137,259 KRW +27%
Hana Financial Group 086790 136,800 KRW 193,969 KRW +42%
Lloyds Banking Group LYG 4,138 ARS 8,275 ARS +100%
Banco de Chile, CHILE 193.10 CLP 152.55 CLP -21%
Joint Stock Commercial Bank for Foreign Trade of Vietnam, VCB 59,400 VND 84,201 VND +42%

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Frequently asked questions

Is Yapi ve Kredi Bankasi A.S., (YKBNK) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of 65.52 TRY versus a price of 32.76 TRY, about +100% (undervalued).
What is the fair value of YKBNK?
Our model-based fair value for Yapi ve Kredi Bankasi A.S., is 65.52 TRY (as of Aug 2, 2026), built from audited fundamentals. The current price is 32.76 TRY.
What is the quality score of YKBNK?
Yapi ve Kredi Bankasi A.S., has a Quality Score of 45/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Yapi ve Kredi Bankasi A.S., (YKBNK)?
Yapi ve Kredi Bankasi A.S., reported trailing-twelve-month revenue of about 210B TRY (latest available figure, as of Aug 2, 2026).
What is the net profit margin of YKBNK?
The net profit margin of Yapi ve Kredi Bankasi A.S., is about 26.6%, meaning it keeps roughly 26.6% 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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