CEM ZEYTIN (CEMZY) fair value: what the stock is really worth
As of Nov 3, 2026: fair value (intrinsic value) of CEM ZEYTIN stock TRY 2.98, price TRY 5.15, that is 42.1% below the price, quality 42 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 1, 2026.
How to read this chart
26‑month range 1.66 TRY – 17.10 TRY · fair‑value band 2.28 TRY – 4.00 TRY · the 5.15 TRY price screens above the 2.98 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 1, 2026.
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Cem Zeytin Anonim Sirketi produces and sells olives in Turkey. The company engages in storage, processing, and packaging of pickled green and black olives. It provides its products under Cem Zeytin and Cem brands. Cem Zeytin Anonim Sirketi was founded in 1930 and is headquartered in Izmir, Turkey.
Stock analysis
CEM ZEYTIN (CEMZY) currently trades at 5.15 TRY, while our model-based Fair Value estimate is 2.98 TRY, 42% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 3.39 TRY per share, and 0 of the 13 models we run sit above the 5.15 TRY price.
Bear case: the Asset-Based group reads lowest at 0.9100 TRY, and 13 of the 13 models stay below the price. Data coverage for this calculation is low.
Scenario range: 2.28 TRY (bear) to 4.00 TRY (bull), the price of 5.15 TRY sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 42/100 (below-average quality), in the Consumer Defensive sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
CEM ZEYTIN reported revenue of 2.8B TRY in FY2025 versus 1.5B TRY in FY2022, a compound +24.0%/yr. Reported net income was −497M TRY in FY2025.
Key figures
Market cap 11.7B TRY (≈ $234M) Micro · P/S ratio 5.09 · EPS (TTM) −0.1900 TRY · Net margin −17.7% · Return on equity −8.3% · Return on assets (EBIT) 16.8% · Operating margin 19.7% · Revenue (TTM) 2.6B TRY.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 70% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at 0% fair-value upside, at −42%, CEMZY screens richer than that median.
Fair Value models
Bear2.28 TRYFair Value 2.98 TRYBull4.00 TRY
Price 5.15 TRY · Downside -42.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
FCF DCF0.9700 TRY1.14 TRY1.39 TRY79
Growth DCF0.9800 TRY1.14 TRY1.36 TRY77
5Y EBITDA Exit1.60 TRY2.38 TRY3.40 TRY72
All 13 models by family
DCF Models
FCF DCF0.9700 TRY1.14 TRY1.39 TRY79
5Y Revenue Exit1.08 TRY1.49 TRY2.07 TRY70
5Y EBITDA Exit1.60 TRY2.38 TRY3.40 TRY72
10Y Revenue Exit1.00 TRY1.22 TRY1.45 TRY65
10Y EBITDA Exit1.24 TRY1.61 TRY2.00 TRY67
Earnings-Based
EPV1.14 TRY1.24 TRY1.31 TRY71
Multiples
EV/EBIT2.93 TRY4.01 TRY5.08 TRY66
EV/EBITDA2.47 TRY3.39 TRY4.31 TRY67
EV/Revenue1.00 TRY1.54 TRY2.09 TRY53
Asset-Based
NCAV (Graham)0.6000 TRY0.9100 TRY1.13 TRY55
Growth DCF
Growth DCF0.9800 TRY1.14 TRY1.36 TRY77
Rev-Margin DCF1.08 TRY1.52 TRY2.05 TRY70
Economic Profit
ROIC Compounder1.14 TRY1.24 TRY1.31 TRY69
The fair value above starts from this blend and is adjusted for a cyclical trough year.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.56/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−5.9%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+24.0%
’22
’23
’24
’25
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+49.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Turkey: IMF forecast 19.3% a year to 2030, 28.5% from 2016 to 2025) that is about +25.4% a year for the price.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Farm Products · 288 stocks
Beats the industry median on 2/11 measures
Overall it trails its industry peers.
Valuation
Quality Score42 · Below median
Fair Value upside−42.1% · Below median
Profitability
Return on assets−9.1% · Bottom 25%
Net margin (12 months)−12.4% · Bottom 25%
Operating margin (12 months)19.7% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−12.1% · Bottom 25%
Balance sheet
Debt / equity0.09× · Below median
Valuation Multiplesvs Farm Products median · lower = cheaper
P/B2.98× · Priciest 25%
P/S (12 months)4.47× · Priciest 25%
Price / free cash flow56.6× · Priciest 25%
EV/EBITDA19.8× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 30
FUTURE (revenue growth)0· sector 17
PAST (return on equity)0· sector 17
HEALTH (low debt)95· sector 94
DIVIDEND (yield)0· sector 41
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "CEM ZEYTIN Fair Value". https://www.fairvalue-calculator.com/stock/CEMZY
Frequently asked questions
Is CEM ZEYTIN (CEMZY) overvalued or undervalued?
As of Nov 1, 2026, our model estimates a fair value of 2.98 TRY versus a price of 5.15 TRY, about 42% lower (overvalued).
What is the fair value of CEMZY?
Our model-based fair value for CEM ZEYTIN is 2.98 TRY (as of Nov 1, 2026), built from audited fundamentals. The current price: 5.15 TRY.
What is the quality score of CEMZY?
CEM ZEYTIN 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 price target for CEM ZEYTIN (CEMZY)?
Our model-based price target is the fair value of 2.98 TRY (as of Nov 1, 2026) from 13 valuation models. Cautious scenario 2.28 TRY, optimistic scenario 4.00 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the CEM ZEYTIN stock forecast for 2026?
Our models put fair value at 2.98 TRY, about 42% lower versus a price of 5.15 TRY (overvalued). Cautious scenario 2.28 TRY, optimistic scenario 4.00 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of CEM ZEYTIN (CEMZY)?
CEM ZEYTIN reported trailing-twelve-month revenue of about 2.6B TRY (latest available figure, as of Nov 1, 2026).
What growth is priced into CEM ZEYTIN (CEMZY)?
For today's price to be fair in a discounted-cash-flow model, CEM ZEYTIN would have to grow free cash flow by +49.6 % per year for five years (discount rate 16.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew +24.0 % per year. As of Nov 1, 2026.
What discount rate (WACC) does the fair value of CEMZY use?
Our models discount CEM ZEYTIN at 16.9 %: a base by market capitalisation (micro), damped by beta 0.94, country premium for Turkey. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For CEM ZEYTIN that is +49.6 % per year a year over ten years, using the same discount rate (16.9 %) and the same formula as our fair value.
How much growth has CEM ZEYTIN (CEMZY) delivered so far?
Over the past 3 years revenue at CEM ZEYTIN grew +24.0 % a year. The price currently implies +49.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of CEM ZEYTIN (CEMZY) growing?
The median revenue growth in the sector is +2.0 % a year. That is the yardstick for the growth priced into CEM ZEYTIN (+49.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of CEM ZEYTIN (CEMZY)?
The free-cash-flow yield on the price is 1.75 %: that much free cash flow CEM ZEYTIN produces per unit of market value. When it exceeds the discount rate of our models (16.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of CEM ZEYTIN (CEMZY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For CEM ZEYTIN it is 2.98 TRY per share (as of Nov 1, 2026), against a price of 5.15 TRY. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is CEM ZEYTIN stock overvalued or undervalued in 2026?
As of Nov 1, 2026, CEMZY trades above its calculated fair value: price 5.15 TRY, fair value 2.98 TRY, a gap of about −42% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CEMZY?
No. The price is what the market pays today (5.15 TRY); the fair value is what the company's own numbers justify (2.98 TRY). For CEM ZEYTIN the two are 2.17 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is CEM ZEYTIN worth?
The market values CEM ZEYTIN at about 11.7B TRY (market capitalisation, as of Nov 1, 2026). Per share that is 5.15 TRY; our models calculate a fair value of 2.98 TRY per share.
What do the bullish and bearish scenarios say about CEMZY?
Our models span a range for CEM ZEYTIN: cautious scenario 2.28 TRY, base 2.98 TRY, optimistic 4.00 TRY per share (as of Nov 1, 2026, price 5.15 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of CEM ZEYTIN (CEMZY)?
Balance-sheet figures for CEM ZEYTIN (as of Nov 1, 2026): return on equity −8.3%, debt of 0.09 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is CEMZY from its 52-week high?
CEM ZEYTIN trades at 5.15 TRY, about 70% below its 52-week high of 17.10 TRY and 8% above the low of 4.76 TRY (as of Nov 3, 2026). Distance from the high says nothing about value: that is what the fair value of 2.98 TRY is for.
Which stocks are comparable to CEM ZEYTIN?
From the same area (Consumer Defensive) we also value Archer-Daniels-Midland Company, Muyuan Foods Group, Tyson Foods, Inc, Bunge Global SA, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is CEM ZEYTIN stock attractive at the current price?
The data as of Nov 1, 2026: price 5.15 TRY, calculated fair value 2.98 TRY (−42%), Quality Score 42/100, from 13 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CEMZY calculated?
We run CEM ZEYTIN through 13 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 2.98 TRY, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5% above its aggregate fair value. CEM ZEYTIN itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of CEM ZEYTIN (CEMZY)?
The closing price on Nov 3, 2026 was 5.15 TRY. Our model-based fair value is 2.98 TRY, about 42% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with CEM ZEYTIN right now?
The price sits above even our optimistic bull case (4.00 TRY). The favourable scenario is already priced in. Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of CEM ZEYTIN
How large is the market capitalisation of CEM ZEYTIN (CEMZY)?
The market capitalisation of CEM ZEYTIN is 11.7B TRY (≈ $234M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of CEM ZEYTIN (CEMZY)?
The price-to-sales ratio of CEM ZEYTIN is 5.09 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of CEM ZEYTIN (CEMZY)?
Earnings per share at CEM ZEYTIN are −0.1900 TRY. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of CEM ZEYTIN (CEMZY)?
The net margin of CEM ZEYTIN is −17.7% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of CEM ZEYTIN (CEMZY)?
The return on equity (ROE) of CEM ZEYTIN is −8.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of CEM ZEYTIN (CEMZY)?
On an EBIT basis the return on assets of CEM ZEYTIN is 16.8% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of CEM ZEYTIN (CEMZY)?
The operating margin of CEM ZEYTIN is 19.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at CEM ZEYTIN (CEMZY)?
Revenue at CEM ZEYTIN is growing −12.1% versus a year earlier (3y avg +24.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at CEM ZEYTIN (CEMZY)?
Earnings per share at CEM ZEYTIN are growing −58.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does CEM ZEYTIN (CEMZY) carry?
The net debt of CEM ZEYTIN is 651M TRY (fiscal year 2025, ≈ 3.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 1, 2026