Ray Sigorta ASIST:RAYSG -1.22%54 ROE % is 40.94% as of Mar. 2026, which is 73% above its 10-year median of 23.73. GuruFocus rates IST:RAYSG with a GF Score™ of 54/100 and a GF Value™ of ₺617.41 (Significantly Undervalued). Among 507 Insurance companies, Ray Sigorta AS ranks better than 96.84% on this metric.
ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Ray Sigorta AS's annualized net income for the quarter that ended in Mar. 2026 was ₺3,648 Mil. Ray Sigorta AS's average Total Stockholders Equity over the quarter that ended in Mar. 2026 was ₺8,911 Mil. Therefore, Ray Sigorta AS's annualized ROE % for the quarter that ended in Mar. 2026 was 40.94%.
The historical rank and industry rank for Ray Sigorta AS's ROE % or its related term are showing as below:
IST:RAYSG'
s ROE % Range Over the Past 10 Years
Min: 12.81 Med: 23.73 Max: 69.15
Current: 51.76
During the past 13 years, Ray Sigorta AS's highest ROE % was 69.15%. The lowest was 12.81%. And the median was 23.73%.
IST:RAYSG's ROE % is ranked better than 96.84% of 507
companies
in the Insurance industry
Industry Median: 11.69
vs IST:RAYSG: 51.76
Ray Sigorta AS (IST:RAYSG) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % 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 ROE %s can be extremely high.
Ray Sigorta AS ROE % Related Terms
Ray Sigorta AS ROE % Historical Data
* Premium members only.
The historical data trend for Ray Sigorta AS's ROE % 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.
For the Insurance - Diversified subindustry, Ray Sigorta AS's ROE %, along with its competitors' market caps and ROE % 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.
Ray Sigorta AS ROE % vs Insurance Industry
For the Insurance industry and Financial Services sector, Ray Sigorta AS's ROE % distribution charts can be found below:
* The bar in red indicates where Ray Sigorta AS's ROE % 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 ROE %, the net income of the last fiscal year and the average total shareholder 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.
ROE % is displayed in the 30-year financial page.
Ray Sigorta AS (IST:RAYSG) has a ROE % of 40.94% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Ray Sigorta AS and its competitors. This is 73% above median its historical median of 23.73. Over the past decade, Ray Sigorta AS's ROE % has ranged from 12.81 to 69.15. According to the industry distribution chart, Ray Sigorta AS ranks #16 out of 507 companies in the Insurance industry, placing it in the top 3.2%.
Is Ray Sigorta AS's ROE % too high?
Ray Sigorta AS's current ROE % of 40.94% is 73% above median its 10-year median of 23.73. Over the past 10 years, this metric has ranged from a low of 12.81 to a high of 69.15. The Insurance industry median ROE % is 11.69. Ray Sigorta AS's value of 40.94% is 250.2% above this industry median. Based on the distribution chart, Ray Sigorta AS ranks #16 out of 507 companies in the Insurance industry, which is in the top quartile — a strong position relative to peers. Overall, Ray Sigorta AS has a GF Score™ of 54/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Ray Sigorta AS's ROE % compare to BRK.A and AIG?
According to the Insurance industry distribution chart, Ray Sigorta AS ranks #16 out of 507 companies for ROE %. This places Ray Sigorta AS in the top 3% of its industry — outperforming the majority of peers. The industry median ROE % is 11.69. Ray Sigorta AS's value of 40.94% is 250.2% above this benchmark. Historically, Ray Sigorta AS's own ROE % has ranged from 12.81 to 69.15 over the past decade. While the company's 10-year median is 23.73 vs. the industry median of 11.69, Ray Sigorta 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 ROE % for an Insurance company?
The median ROE % among Insurance companies is 11.69, based on 507 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Ray Sigorta AS's current ROE % of 40.94% is 250.2% 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Ray Sigorta AS and its competitors. For the Insurance industry, the median ROE % is 11.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ray Sigorta AS's current ROE % is 40.94%, which is 73% above median its own 10-year median of 23.73. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ray Sigorta AS stock overvalued right now?
Based on GuruFocus' analysis, Ray Sigorta AS (IST:RAYSG) is currently considered Significantly Undervalued. The stock's GF Value™ is ₺617.41, compared to a current price of ₺185.70 — trading 69.9% below its estimated fair value. The current ROE % is 40.94%, which is 73% above median its 10-year median of 23.73 and 250.2% above the Insurance industry median of 11.69. Ray Sigorta AS's overall GF Score™ is 54/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Ray Sigorta AS (IST:RAYSG), the current ROE % is 40.94% 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 Ray Sigorta AS (IST:RAYSG) Overvalued in 2026?
Based on GuruFocus' analysis, Ray Sigorta AS stock appears to be undervalued.
The current stock price of ₺185.70 is trading 69.9% below its estimated GF Value™ of ₺617.41.
GuruFocus considers Ray Sigorta AS to be Significantly Undervalued.
Key valuation signals for IST:RAYSG:
ROE %: 40.94% (73% above median its 10-year median of 23.73)
GF Value™: ₺617.41 vs. price of ₺185.70 (69.9% below fair value)
Industry Position: 250.2% above the Insurance median (#16 of 507)
No single metric tells the full story. See the IST:RAYSG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ray Sigorta AS is a Turkey-based insurance company. It offers motor, household and health insurances. The motor insurance covers accidents such as the collision of the car with other motor or no-motor vehicles used on the road or railroad. Its household insurance secures house and goods against many risks such as fire, robbery, earthquake, and floods. The health insurance product consists of emergency health insurance, complementary health insurance, health insurance for foreigners and travel health insurance. Additionally, it also provides contracted health institutions and contracted auto services.
54GF Score
Get the complete analysis for IST:RAYSG
ROE % 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:RAYSG has been successfully added to your 
