Financials Türkiye Vakiflar Bankasi Türk Anonim Ortakligi

Equities

VAKBN

TREVKFB00019

Banks

Market Closed - Borsa Istanbul 11:09:55 2024-05-17 am EDT 5-day change 1st Jan Change
21.4 TRY +2.39% Intraday chart for Türkiye Vakiflar Bankasi Türk Anonim Ortakligi -1.65% +66.67%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 13,775 18,395 14,373 84,554 127,320 212,201 - -
Enterprise Value (EV) 1 13,775 18,395 14,373 84,554 127,320 212,201 212,201 212,201
P/E ratio 4.09 x 2.48 x 2.69 x 2.97 x 3.65 x 4.5 x 2.37 x 1.92 x
Yield - - - - - - - -
Capitalization / Revenue 0.65 x 0.63 x 0.5 x 0.82 x 0.89 x 1.32 x 1.02 x 0.91 x
EV / Revenue 0.65 x 0.63 x 0.5 x 0.82 x 0.89 x 1.32 x 1.02 x 0.91 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 0.42 x 0.4 x 0.27 x 0.81 x - 0.97 x 0.66 x 0.49 x
Nbr of stocks (in thousands) 2,500,000 3,905,622 3,905,622 7,111,364 9,915,922 9,915,922 - -
Reference price 2 5.510 4.710 3.680 11.89 12.84 21.40 21.40 21.40
Announcement Date 2/14/20 2/9/21 2/14/22 2/14/23 2/6/24 - - -
1TRY in Million2TRY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 21,288 29,140 28,926 102,644 143,769 160,515 208,030 233,507
EBITDA - - - - - - - -
EBIT 1 12,857 19,602 19,197 67,314 86,606 112,481 167,956 182,029
Operating Margin 60.4% 67.27% 66.36% 65.58% 60.24% 70.08% 80.74% 77.95%
Earnings before Tax (EBT) 1 4,500 7,985 6,623 40,110 36,318 85,815 139,447 147,272
Net income 1 3,369 6,337 5,166 25,811 31,656 47,189 79,323 110,454
Net margin 15.83% 21.75% 17.86% 25.15% 22.02% 29.4% 38.13% 47.3%
EPS 2 1.348 1.899 1.366 4.008 3.519 4.759 9.047 11.14
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 - - - - - - - -
Announcement Date 2/14/20 2/9/21 2/14/22 2/14/23 2/6/24 - - -
1TRY in Million2TRY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 11,960 15,819 20,187 23,377 43,261 38,755 24,648 33,943 46,424 50,732 38,134 41,277 44,637
EBITDA - - - - - - - - - - - - -
EBIT 8,986 - - - - 18,638 - 23,484 - - - - -
Operating Margin 75.14% - - - - 48.09% - 69.19% - - - - -
Earnings before Tax (EBT) 3,229 5,526 - 9,882 15,451 5,248 6,151 - - - - - -
Net income 1 2,551 3,260 7,509 5,750 9,292 5,340 2,550 10,398 13,369 13,172 6,395 12,114 16,657
Net margin 21.33% 20.61% 37.2% 24.6% 21.48% 13.78% 10.34% 30.63% 28.8% 25.96% 16.77% 29.35% 37.32%
EPS 2 0.6718 - 1.072 0.8628 - 0.6344 0.2888 1.064 1.532 1.343 0.6450 1.222 1.680
Dividend per Share - - - - - - - - - - - - -
Announcement Date 2/14/22 5/10/22 8/8/22 11/7/22 2/14/23 5/15/23 8/9/23 11/9/23 2/6/24 5/9/24 - - -
1TRY in Million2TRY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 11% 16% 10.4% 32.7% 22.5% 24.1% 31.9% 29.2%
ROA (Net income/ Total Assets) 0.87% 1.11% 0.59% 1.89% 1.39% 2.17% 2.21% 2.4%
Assets 1 388,847 570,942 870,493 1,368,001 2,284,143 2,175,599 3,595,796 4,602,250
Book Value Per Share 2 13.10 11.90 13.60 14.70 - 22.00 32.60 44.00
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 2/14/20 2/9/21 2/14/22 2/14/23 2/6/24 - - -
1TRY in Million2TRY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
12
Last Close Price
21.4 TRY
Average target price
21.56 TRY
Spread / Average Target
+0.75%
Consensus
  1. Stock Market
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  4. Financials Türkiye Vakiflar Bankasi Türk Anonim Ortakligi
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