Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
QNB Bank ASIST:QNBTR -1.63%44 Return-on-Tangible-Equity is 36.80% as of Mar. 2026, which is 89% above its 10-year median of 19.51. GuruFocus rates IST:QNBTR with a GF Score™ of 44/100 and a GF Value™ of ₺347.21 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 1,517 Banks companies, QNB Bank AS ranks better than 97.5% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. QNB Bank AS's annualized net income for the quarter that ended in Mar. 2026 was ₺62,989 Mil. QNB Bank AS's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ₺171,160 Mil. Therefore, QNB Bank AS's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 36.80%.
The historical rank and industry rank for QNB Bank AS's Return-on-Tangible-Equity or its related term are showing as below:
IST:QNBTR'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 13.04 Med: 19.51 Max: 54.92
Current: 35.34
During the past 13 years, QNB Bank AS's highest Return-on-Tangible-Equity was 54.92%. The lowest was 13.04%. And the median was 19.51%.
IST:QNBTR's Return-on-Tangible-Equity is ranked better than 97.5% of 1517
companies
in the Banks industry
Industry Median: 11.25
vs IST:QNBTR: 35.34
QNB Bank AS (IST:QNBTR) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
QNB Bank AS Return-on-Tangible-Equity Related Terms
QNB Bank AS Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for QNB Bank AS's Return-on-Tangible-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
QNB Bank AS Return-on-Tangible-Equity Competitor Comparison
For the Banks - Regional subindustry, QNB Bank AS's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
QNB Bank AS Return-on-Tangible-Equity vs Banks Industry
For the Banks industry and Financial Services sector, QNB Bank AS's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where QNB Bank AS's Return-on-Tangible-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 36.80% mean?
QNB Bank AS (IST:QNBTR) has a Return-on-Tangible-Equity of 36.80% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on QNB Bank AS and its competitors. This is 89% above median its historical median of 19.51. Over the past decade, QNB Bank AS's Return-on-Tangible-Equity has ranged from 13.04 to 54.92. According to the industry distribution chart, QNB Bank AS ranks #38 out of 1517 companies in the Banks industry, placing it in the top 2.5%.
Is QNB Bank AS's Return-on-Tangible-Equity too high?
QNB Bank AS's current Return-on-Tangible-Equity of 36.80% is 89% above median its 10-year median of 19.51. Over the past 10 years, this metric has ranged from a low of 13.04 to a high of 54.92. The Banks industry median Return-on-Tangible-Equity is 11.25. QNB Bank AS's value of 36.80% is 227.1% above this industry median. Based on the distribution chart, QNB Bank AS ranks #38 out of 1517 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, QNB Bank AS has a GF Score™ of 44/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does QNB Bank AS's Return-on-Tangible-Equity compare to competitors?
According to the Banks industry distribution chart, QNB Bank AS ranks #38 out of 1517 companies for Return-on-Tangible-Equity. This places QNB Bank AS in the top 3% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 11.25. QNB Bank AS's value of 36.80% is 227.1% above this benchmark. Historically, QNB Bank AS's own Return-on-Tangible-Equity has ranged from 13.04 to 54.92 over the past decade. While the company's 10-year median is 19.51 vs. the industry median of 11.25, QNB Bank AS has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Equity for a Banks company?
The median Return-on-Tangible-Equity among Banks companies is 11.25, based on 1,517 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. QNB Bank AS's current Return-on-Tangible-Equity of 36.80% is 227.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on QNB Bank AS and its competitors. For the Banks industry, the median Return-on-Tangible-Equity is 11.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. QNB Bank AS's current Return-on-Tangible-Equity is 36.80%, which is 89% above median its own 10-year median of 19.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is QNB Bank AS stock overvalued right now?
Based on GuruFocus' analysis, QNB Bank AS (IST:QNBTR) is currently considered Significantly Undervalued. The stock's GF Value™ is ₺347.21, compared to a current price of ₺205.60 — trading 40.8% below its estimated fair value. The current Return-on-Tangible-Equity is 36.80%, which is 89% above median its 10-year median of 19.51 and 227.1% above the Banks industry median of 11.25. QNB Bank AS's overall GF Score™ is 44/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For QNB Bank AS (IST:QNBTR), the current Return-on-Tangible-Equity is 36.80% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is QNB Bank AS (IST:QNBTR) Overvalued in 2026?
Based on GuruFocus' analysis, QNB Bank AS stock appears to be undervalued.
The current stock price of ₺205.60 is trading 40.8% below its estimated GF Value™ of ₺347.21.
GuruFocus considers QNB Bank AS to be Significantly Undervalued.
Key valuation signals for IST:QNBTR:
Return-on-Tangible-Equity: 36.80% (89% above median its 10-year median of 19.51)
GF Value™: ₺347.21 vs. price of ₺205.60 (40.8% below fair value)
Industry Position: 227.1% above the Banks median (#38 of 1517)
No single metric tells the full story. See the IST:QNBTR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
QNB Bank AS offers products and services to its customers in factoring, investment, leasing (financial leasing), insurance, portfolio management services, and e-transformation products. In addition to corporate banking, retail banking and commercial banking services, it also provides private banking, SME banking, treasury operations and credit card services through branches and alternative channels. The company serves its retail banking clients with time and demand deposits, also overdraft services, automatic account services, consumer loans, vehicle loans, housing loans and investment fund services. It provides services including deposit and loans, foreign trade financing, forward and option agreements to its corporate clients.
44GF Score
Get the complete analysis for IST:QNBTR
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
IST:QNBTR has been successfully added to your 
