Türkiye Vakiflar Bankasi Türk Anonim Ortakligi

IBSE:VAKBN Stock Report

Market Cap: ₺236.8b

Türkiye Vakiflar Bankasi Türk Anonim Ortakligi Valuation

Is VAKBN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of VAKBN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: VAKBN (TRY24.94) is trading above our estimate of fair value (TRY0.6)

Significantly Below Fair Value: VAKBN is trading above our estimate of fair value.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for VAKBN?

Key metric: As VAKBN is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for VAKBN. This is calculated by dividing VAKBN's market cap by their current earnings.
What is VAKBN's PE Ratio?
PE Ratio5.1x
Earnings₺48.25b
Market Cap₺236.79b

Price to Earnings Ratio vs Peers

How does VAKBN's PE Ratio compare to its peers?

The above table shows the PE ratio for VAKBN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average33.8x
YKBNK Yapi ve Kredi Bankasi
5.7x47.1%₺221.8b
AKBNK Akbank T.A.S
6.1x45.9%₺271.4b
ISCTR Türkiye Is Bankasi
6x49.8%₺365.6b
SAHOL Haci Ömer Sabanci Holding
117.4x114.3%₺170.0b
VAKBN Türkiye Vakiflar Bankasi Türk Anonim Ortakligi
5.1x22.9%₺236.8b

Price-To-Earnings vs Peers: VAKBN is good value based on its Price-To-Earnings Ratio (5.1x) compared to the peer average (33.8x).


Price to Earnings Ratio vs Industry

How does VAKBN's PE Ratio compare vs other companies in the Asian Banks Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
VAKBN 5.1xIndustry Avg. 8.4xNo. of Companies79PE0612182430+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: VAKBN is good value based on its Price-To-Earnings Ratio (5.1x) compared to the Asian Banks industry average (8.4x).


Price to Earnings Ratio vs Fair Ratio

What is VAKBN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

VAKBN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio5.1x
Fair PE Ratio3.4x

Price-To-Earnings vs Fair Ratio: VAKBN is expensive based on its Price-To-Earnings Ratio (5.1x) compared to the estimated Fair Price-To-Earnings Ratio (3.4x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst VAKBN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₺24.94
₺25.10
+0.6%
20.3%₺33.00₺16.82n/a11
Nov ’25₺20.32
₺25.01
+23.1%
19.5%₺33.00₺16.82n/a12
Oct ’25₺22.36
₺24.43
+9.2%
21.6%₺33.00₺16.82n/a12
Sep ’25₺18.92
₺22.91
+21.1%
22.1%₺31.36₺15.58n/a12
Aug ’25₺20.74
₺22.37
+7.9%
21.8%₺31.36₺15.58n/a11
Jul ’25₺20.84
₺22.28
+6.9%
22.5%₺31.36₺15.58n/a10
Jun ’25₺22.14
₺22.28
+0.6%
22.5%₺31.36₺15.58n/a10
May ’25₺19.68
₺19.55
-0.6%
15.6%₺23.76₺15.00n/a11
Apr ’25₺14.30
₺19.10
+33.6%
20.0%₺23.76₺11.00n/a11
Mar ’25₺14.25
₺17.60
+23.5%
29.0%₺23.76₺6.40n/a13
Feb ’25₺14.26
₺16.69
+17.0%
29.3%₺23.00₺6.40n/a14
Jan ’25₺12.84
₺15.67
+22.0%
30.5%₺23.00₺6.40n/a14
Dec ’24₺13.98
₺15.04
+7.6%
33.6%₺23.00₺6.40n/a14
Nov ’24₺16.20
₺13.61
-16.0%
30.2%₺23.00₺6.40₺20.3214
Oct ’24₺14.38
₺12.02
-16.4%
22.3%₺16.50₺6.40₺22.3614
Sep ’24₺13.81
₺11.48
-16.9%
25.5%₺16.50₺6.40₺18.9214
Aug ’24₺12.12
₺10.33
-14.8%
21.5%₺13.26₺6.30₺20.7413
Jul ’24₺9.91
₺10.11
+2.0%
22.6%₺13.26₺6.30₺20.8413
Jun ’24₺9.52
₺10.11
+6.2%
22.6%₺13.26₺6.30₺22.1413
May ’24₺8.60
₺10.29
+19.6%
21.1%₺13.26₺6.30₺19.6813
Apr ’24₺8.95
₺10.33
+15.4%
22.1%₺13.26₺5.50₺14.3013
Mar ’24₺9.60
₺9.19
-4.3%
33.2%₺13.26₺2.40₺14.2513
Feb ’24₺8.71
₺9.04
+3.7%
32.2%₺13.26₺2.40₺14.2613
Jan ’24₺11.89
₺8.22
-30.9%
29.7%₺11.10₺2.40₺12.8413
Dec ’23₺10.08
₺8.08
-19.8%
30.8%₺11.10₺2.40₺13.9813
Nov ’23₺8.51
₺6.36
-25.2%
29.6%₺10.07₺2.40₺16.2013

Analyst Forecast: Target price is less than 20% higher than the current share price.


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