Formul Plastik ve Metal Sanayi (FRMPL) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Formul Plastik ve Metal Sanayi stock TRY 29.75, price TRY 19.05, upside +56.2%, quality 58 out of 100. Rating: strongly undervalued. Calculated from audited financials with 22 of our 26 valuation models and 37 quality factors, updated daily.
Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with oneYes, for free
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
10‑month range 16.86 TRY – 53.20 TRY · fair‑value band 21.55 TRY – 35.67 TRY · the 19.05 TRY price screens below the 29.75 TRY fair value. As of Nov 3, 2026.
Follow Formul Plastik ve Metal Sanayi in your weekly email
Every Wednesday you see whether Formul Plastik ve Metal Sanayi is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Formul Plastik A.S. designs, manufactures, and sells pipes and fittings in Turkey and internationally. The company offers PP-R pipes and fittings, PPRCT pipes, PVC pipes and fittings, silent PP pipes and fittings, PE-RT pipes, and accessories, as well as brass inserts and fittings.
Show moreShow less
Formul Plastik A.S. was founded in 1990 and is based in Istanbul, Turkey.
Stock analysis
Formul Plastik ve Metal Sanayi (FRMPL) currently trades at 19.05 TRY, while our model-based Fair Value estimate is 29.75 TRY, implying the stock looks roughly 36% undervalued today.
Show more
Valuation
Bull case: the Multiples group reads highest at a median of 45.06 TRY per share, and 16 of the 22 models we run sit above the 19.05 TRY price.
Bear case: the Asset-Based group reads lowest at 6.49 TRY, and 6 of the 22 models stay below the price. Data coverage for this calculation is low.
Scenario range: 21.55 TRY (bear) to 35.67 TRY (bull), the price of 19.05 TRY sits below 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 58/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Formul Plastik ve Metal Sanayi reported revenue of 3.5B TRY in FY2025 versus 3.9B TRY in FY2022, a compound −4.2%/yr. Reported net income was 163M TRY in FY2025, compounding −18.1%/yr from FY2022.
Key figures
Market cap 3.0B TRY (≈ $60.8M) Micro · P/E ratio 14.7 · P/S ratio 0.93 · EPS (TTM) 1.30 TRY · Net margin 6.4% · Return on equity 7.0% · Return on assets (EBIT) 19.7% (4-year average) · Operating margin 20.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (medium confidence).
What moves the price
For context, the median of 10 Basic Materials peers we cover trades at −21% fair-value upside, at 56%, FRMPL screens cheaper than that median.
Fair Value models
Bear21.55 TRYFair Value 29.75 TRYBull35.67 TRY
Price 19.05 TRY · Upside +56.2%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (1.11 TRY per share) are deliberately not added.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.
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.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−2.4%
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.
−4.2%
’22
’23
’24
’25
What shareholders gained per year (last 3 years), in TRY ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis. Measured in TRY: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−9.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−9.0%
Dividend (yield on the price)0.0%
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).
+12.0%
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 −6.1% a year for the price.
Compare Formul Plastik ve Metal Sanayi with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Building Materials · 257 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside+56.2% · Top 25%
Profitability
Return on equity (12 months)7.0% · Above median
Return on assets3.5% · Above median
Net margin (12 months)6.4% · Above median
Operating margin (12 months)20.4% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−0.7% · Below median
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Building Materials median · lower = cheaper
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). "Formul Plastik ve Metal Sanayi Fair Value". https://www.fairvalue-calculator.com/stock/FRMPL
Frequently asked questions
Is Formul Plastik ve Metal Sanayi (FRMPL) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 29.75 TRY versus a price of 19.05 TRY, about +56% upside (undervalued).
What is the fair value of FRMPL?
Our model-based fair value for Formul Plastik ve Metal Sanayi is 29.75 TRY (as of Nov 3, 2026), built from audited fundamentals. The current price: 19.05 TRY.
What is the quality score of FRMPL?
Formul Plastik ve Metal Sanayi has a Quality Score of 58/100. 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 Formul Plastik ve Metal Sanayi (FRMPL)?
Our model-based price target is the fair value of 29.75 TRY (as of Nov 3, 2026) from 22 valuation models. Cautious scenario 21.55 TRY, optimistic scenario 35.67 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Formul Plastik ve Metal Sanayi stock forecast for 2026?
Our models put fair value at 29.75 TRY, about +56% upside versus a price of 19.05 TRY (undervalued). Cautious scenario 21.55 TRY, optimistic scenario 35.67 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Formul Plastik ve Metal Sanayi (FRMPL)?
Formul Plastik ve Metal Sanayi reported trailing-twelve-month revenue of about 3.3B TRY (latest available figure, as of Nov 3, 2026).
What growth is priced into Formul Plastik ve Metal Sanayi (FRMPL)?
For today's price to be fair in a discounted-cash-flow model, Formul Plastik ve Metal Sanayi would have to grow free cash flow by +12.0 % per year for five years (discount rate 17.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew -4.2 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of FRMPL use?
Our models discount Formul Plastik ve Metal Sanayi at 17.2 %: a base by market capitalisation (micro), 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 Formul Plastik ve Metal Sanayi that is +12.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (17.2 %) and the same formula as our fair value.
How much growth has Formul Plastik ve Metal Sanayi (FRMPL) delivered so far?
Over the past 3 years revenue at Formul Plastik ve Metal Sanayi grew -4.2 % a year. The price currently implies free-cash-flow growth of +12.0 % per 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 Formul Plastik ve Metal Sanayi (FRMPL) growing?
The median revenue growth in the sector is +11.2 % a year. That is the yardstick for the growth priced into Formul Plastik ve Metal Sanayi (+12.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Formul Plastik ve Metal Sanayi (FRMPL)?
The free-cash-flow yield on the price is 12.10 %: that much free cash flow Formul Plastik ve Metal Sanayi produces per unit of market value. When it exceeds the discount rate of our models (17.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Formul Plastik ve Metal Sanayi (FRMPL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Formul Plastik ve Metal Sanayi it is 29.75 TRY per share (as of Nov 3, 2026), against a price of 19.05 TRY. It is the blended result of 22 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Formul Plastik ve Metal Sanayi stock overvalued or undervalued in 2026?
As of Nov 3, 2026, FRMPL trades below its calculated fair value: price 19.05 TRY, fair value 29.75 TRY, a gap of about +56% (undervalued). 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 FRMPL?
No. The price is what the market pays today (19.05 TRY); the fair value is what the company's own numbers justify (29.75 TRY). For Formul Plastik ve Metal Sanayi the two are 10.70 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Formul Plastik ve Metal Sanayi worth?
The market values Formul Plastik ve Metal Sanayi at about 3.0B TRY (market capitalisation, as of Nov 3, 2026). Per share that is 19.05 TRY; our models calculate a fair value of 29.75 TRY per share.
What do the bullish and bearish scenarios say about FRMPL?
Our models span a range for Formul Plastik ve Metal Sanayi: cautious scenario 21.55 TRY, base 29.75 TRY, optimistic 35.67 TRY per share (as of Nov 3, 2026, price 19.05 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FRMPL?
Formul Plastik ve Metal Sanayi trades at a price-to-earnings ratio of 14.7 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 29.75 TRY is built from several models across several years. Other multiples: P/B 1.3, P/S 0.9, EV/EBITDA 3.9.
How solid is the balance sheet of Formul Plastik ve Metal Sanayi (FRMPL)?
Balance-sheet figures for Formul Plastik ve Metal Sanayi (as of Nov 3, 2026): return on equity 7.0%, debt of 0.00 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
Which stocks are comparable to Formul Plastik ve Metal Sanayi?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Martin Marietta Materials, Inc, Vulcan Materials Company, 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 Formul Plastik ve Metal Sanayi stock attractive at the current price?
The data as of Nov 3, 2026: price 19.05 TRY, calculated fair value 29.75 TRY (+56%), Quality Score 58/100, from 22 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 FRMPL calculated?
We run Formul Plastik ve Metal Sanayi through 22 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 29.75 TRY builds on their evidence-weighted average, 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 12.7% above its aggregate fair value. Formul Plastik ve Metal Sanayi currently trades 36% below its own fair value, and the market average says nothing about that. 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 Formul Plastik ve Metal Sanayi (FRMPL)?
The closing price on Nov 6, 2026 was 19.05 TRY. Our model-based fair value is 29.75 TRY, about +56% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Formul Plastik ve Metal Sanayi right now?
The price is below even our cautious bear case (21.55 TRY). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Formul Plastik ve Metal Sanayi
How large is the market capitalisation of Formul Plastik ve Metal Sanayi (FRMPL)?
The market capitalisation of Formul Plastik ve Metal Sanayi is 3.0B TRY (≈ $60.8M). 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 Formul Plastik ve Metal Sanayi (FRMPL)?
The price-to-sales ratio of Formul Plastik ve Metal Sanayi is 0.93 (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 Formul Plastik ve Metal Sanayi (FRMPL)?
Earnings per share at Formul Plastik ve Metal Sanayi are 1.30 TRY (price ÷ EPS = P/E 14.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Formul Plastik ve Metal Sanayi (FRMPL)?
The net margin of Formul Plastik ve Metal Sanayi is 6.4% (last twelve months). 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 Formul Plastik ve Metal Sanayi (FRMPL)?
The return on equity (ROE) of Formul Plastik ve Metal Sanayi is 7.0% (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 Formul Plastik ve Metal Sanayi (FRMPL)?
On an EBIT basis the return on assets of Formul Plastik ve Metal Sanayi is 19.7% (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 Formul Plastik ve Metal Sanayi (FRMPL)?
The operating margin of Formul Plastik ve Metal Sanayi is 20.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Formul Plastik ve Metal Sanayi (FRMPL)?
Revenue at Formul Plastik ve Metal Sanayi is growing −0.7% versus a year earlier (3y avg −4.2%). 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 Formul Plastik ve Metal Sanayi (FRMPL)?
Earnings per share at Formul Plastik ve Metal Sanayi are growing +72.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Formul Plastik ve Metal Sanayi (FRMPL) carry?
The net debt of Formul Plastik ve Metal Sanayi is 906M TRY (fiscal year 2025, ≈ 2.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Formul Plastik ve Metal Sanayi in the live analysis
One click puts Formul Plastik ve Metal Sanayi on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Thin data
Nov 3, 2026