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Akbank TAS (AKBNK) Fair Value & Analysis

Financial Services · TR · Market cap 343B TRY (≈ $7.1B) · ISIN TRAAKBNK91N6

What is Akbank TAS really worth?

AT Akbank TAS AKBNK · IS
Price71.85 TRY
Fair Value111.78 TRY
Upside+55.6%
Quality42/100

Below-average quality, trading 36% below our fair value of 111.78 TRY.

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Strengths

Highly profitable · 29.5% net margin
Ranks above peers (9/13)
Wide moat 70/100

Risks

!Expensive Growth (revenue 5y +54.7 %/yr)
!Low debt · negative free cash flow
!Evidence only medium, so the estimate is less certain

For context

·3.06% dividend yield
Evidence: Medium Range 83.83 TRY – 139.72 TRY

Fair value as of: Sep 2, 2026

From 4 valuation models · updated 2 days ago

Share price +8.9% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (83.83 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.

Price vs Fair Value (5 years)

90.06 TRY 4.05 TRY Fair Value 111.78 TRY May 2021 Sep 2026

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

How to read this chart

60‑month range 4.05 TRY – 90.06 TRY · fair‑value band 83.83 TRY – 139.72 TRY · the 71.85 TRY price screens below the 111.78 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 2, 2026.

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Analysis

Akbank TAS (AKBNK) currently trades at 71.85 TRY, while our model-based Fair Value estimate is 111.78 TRY, implying the stock looks roughly 35.7% undervalued today. The Quality Score stands at 42/100 (below-average quality), in the Financial Services sector. Bull case: the Economic Profit group reads highest at a median of 100.69 TRY per share, and 3 of the 4 models we run sit above the 71.85 TRY price. Bear case: the Asset-Based group reads lowest at 39.97 TRY, and 1 of the 4 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Akbank TAS generated revenue of 226B TRY at a net margin of 29.5%. Revenue grew 42.0% year over year. It earns a return on equity of 22.9%. Net debt stands at 239B TRY. Fundamentals as of Sep 2, 2026

Our scenario range runs from 83.83 TRY (bear case) to 139.72 TRY (bull case); at 71.85 TRY, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 21% 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 −10% fair-value upside, at 56%, AKBNK screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 6.69 TRY per share, which is 6.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Model 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
Highest evidence
Residual Income 75.98 TRY 100.69 TRY 408.99 TRY 64
P/E Multiple 107.35 TRY 143.14 TRY 178.92 TRY 63
P/B Multiple 62.63 TRY 83.51 TRY 104.39 TRY 55
All 4 models by family
Multiples
P/E Multiple 107.35 TRY 143.14 TRY 178.92 TRY 63
P/B Multiple 62.63 TRY 83.51 TRY 104.39 TRY 55
Asset-Based
NCAV (Graham) 29.83 TRY 39.97 TRY 59.65 TRY 54
Economic Profit
Residual Income 75.98 TRY 100.69 TRY 408.99 TRY 64

Widest divergence: Economic Profit (100.69 TRY) versus Asset-Based (39.97 TRY). Highest evidence: Residual Income (64).

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Key figures & financial health

P/E ratio 6.0
P/S ratio 1.48 P/E × margin
EPS (TTM) 12.05 TRY price ÷ EPS = P/E 6.0
Dividend yield 3.1% payout 18.3%
Net margin 24.9% FY2025
Return on equity 22.9% TTM
More key figures
Profitability
Return on assets (EBIT) 2.0% avg 5y
Operating margin 35.3% TTM
Growth
Revenue (TTM) 226B TRY TTM
Revenue growth (YoY) +42.0% 3y avg +27.2%
EPS growth (YoY) +36.7%
Balance sheet & cash flow
Free cash flow −31.3B TRY FY2025
Net debt 239B TRY FY2025

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

Quality Score breakdown

Overall quality 42/100

Of which business quality 42 · Market factors (momentum, volatility) 49

Profitability 39
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 58
Balance sheet, leverage, solvency risk
Investment 26
Disciplined investing over empire-building
Low Volatility 64
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 50
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Akbank T.A.S., together with its subsidiaries, provides various banking products and services in Turkey and internationally.

Full company description

Akbank T.A.S., together with its subsidiaries, provides various banking products and services in Turkey and internationally. The company's consumer banking services comprise deposit accounts, retail loans, commercial installment loans, credit cards, insurance products, and asset management services, as well as bank cards, investment funds trading, automatic payment, foreign currency trading, safe deposit box rental, cheques, money transfer, investment banking, and telephone and internet banking services. It also offers services to large, medium, and small size corporate and commercial customers that include Turkish Lira (TL) and foreign currency denominated working capital loans financing for investments, foreign trade financing, derivative instruments for hedging purposes of foreign currency and interest risk, letters of credit, foreign currency trading, corporate finance, and deposit and cash management services, as well as project finance loans; and working capital management, delivering cash management services based on customers' requests, such as collection and payment, and liquidity and information management services. In addition, the company engages in TL and foreign currency spot, and forward transactions, treasury and government bonds, Eurobonds, and private sector bond transactions, as well as derivative trading activities; and marketing and pricing activities related to treasury products. Further, it provides foreign exchange, and TL clearing; financial leasing, investment and pension funds management, portfolio management, and payment services as well as issues electronic money. Akbank T.A.S. was incorporated in 1948 and is headquartered in Istanbul, Turkey.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Akbank TAS reported revenue of 230B TRL in FY2025 versus 39.5B TRL in FY2021, a compound +55.3%/yr. Reported net income was 57.3B TRL in FY2025, compounding +47.4%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
230B TRY
Latest YoY
+43.6%
Avg. revenue growth/yr (3Y) 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.
+27.2%
Avg. revenue growth/yr (5Y) 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.
+54.7%
Avg. revenue growth/yr (25Y) 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.
−32.3%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+58.8% (55.7 + 3.1)
Revenue +55.3%/yr
FY21 39.5B TRL
FY22 112B TRL
FY23 150B TRL
FY24 160B TRL
FY25 230B TRL
Net income +47.4%/yr
FY21 12.1B TRL
FY22 60.0B TRL
FY23 66.5B TRL
FY24 42.4B TRL
FY25 57.3B TRL

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Cite: Fair Value Calculator (2026). "Akbank TAS Fair Value". https://www.fairvalue-calculator.com/stock/AKBNK

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Banks - Regional · 1071 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 46 · Bottom 25%
Fair Value upside +56% · Top 25%
Return on equity (TTM) 23% · Top 25%
Return on assets 2% · Top 25%
Net margin (TTM) 29% · Above median
Operating margin (TTM) 35% · Below median
Revenue growth 42% · Top 25%
Dividend yield (TTM) 3.1% · Above median
Debt / equity 0.12× · Lower than median

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 6.0× · Cheaper than 75% of peers
P/B 1.11× · Pricier than median
P/S (TTM) 1.52× · Cheaper than 75% of peers
PEG 1.79× · Pricier than median

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 33
FUTURE100 · sector 45
PAST91 · sector 41
HEALTH94 · sector 85
DIVIDEND61 · sector 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

Similar stocks

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

Stock Price Fair Value vs Fair Value
DBS Group D05 75.65 SGD 40.48 SGD −46%
China Merchants Bank Co 3968 HK$47.96 HK$76.51 +60%
Intesa Sanpaolo S.p.A ISP €6.78 €5.66 −17%
HDFC Bank Limited HDB $23.17 $24.12 +4%
BNP Paribas SA BNP €102.56 €144.64 +41%
UniCredit S.p.A UCG €84.71 €77.62 −8%
Mizuho Financial Group MFG $10.74 $9.69 −10%
ICICI Bank Limited ICICIBANK ₹1,443 ₹835.21 −42%
Oversea-Chinese Banking Corporation O39 31.07 SGD 19.80 SGD −36%
CaixaBank, S.A CABK €13.52 €8.85 −35%

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Frequently asked questions

Is Akbank TAS (AKBNK) overvalued or undervalued?
As of Sep 2, 2026, our model estimates a fair value of 111.78 TRY versus a price of 71.85 TRY, about +56% upside (undervalued).
What is the fair value of AKBNK?
Our model-based fair value for Akbank TAS is 111.78 TRY (as of Sep 2, 2026), built from audited fundamentals. The current price: 71.85 TRY.
What is the quality score of AKBNK?
Akbank TAS has a Quality Score of 42/100. 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 revenue of Akbank TAS (AKBNK)?
Akbank TAS reported trailing-twelve-month revenue of about 226B TRY (latest available figure, as of Sep 2, 2026).
What is the net profit margin of AKBNK?
The net profit margin of Akbank TAS is about 29.5%, meaning it keeps roughly 29.5% of revenue as net income. Based on the latest reported figures.
Does Akbank TAS pay a dividend?
Akbank TAS currently shows a dividend yield of about 3.06% relative to its recent price (as of Sep 2, 2026).
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