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Data-driven stock valuation

Hitit Bilgisayar Hizmetleri AS (HTTBT) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Hitit Bilgisayar Hizmetleri AS stock TRY 30.49, price TRY 30.12, upside +1.2%, quality 53 out of 100. Rating: fairly valued. Calculated from audited financials with 14 of our 26 valuation models and 37 quality factors, updated daily.

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Technology TR · ISIN TREHTTB00036

HB Hitit Bilgisayar Hizmetleri AS logo Thin data Nov 6, 2026

Hitit Bilgisayar Hizmetleri AS

HTTBT · IS
Fairly valued, in a downtrend

The stock costs about what our calculation considers fair.

Highly profitable · 21.3% net margin (TTM)
Ranks above peers (7/11)
Revenue last quarter +33% vs. a year ago.
Fair value 30.49 TRY · Fairly valued (+1.2%)
Quality 53/100
Expensive Growth (revenue 5y +79.4 %/yr in TRY)
Wide moat 69/100 · thin data
Negative free cash flow
Thin data

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

53.65 TRY 5.05 TRY Fair Value 30.49 TRY Mar 2022 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.

How to read this chart

56‑month range 5.05 TRY – 53.65 TRY · fair‑value band 23.29 TRY – 37.68 TRY · the 30.12 TRY price screens below the 30.49 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.

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Company profile

Hitit Bilgisayar Hizmetleri A.S. develops and sells airline and travel technology solutions under the Crane brand in Turkey and internationally.

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The company offers passenger service system (PSS), a suite of solutions comprising reservation and passenger services, internet booking engine, reservations and passenger service, mobile application, allotment manager, departure control system, weight and balance, baggage reconciliation itinerary, and loyalty layer; operations planning solutions consisting of crew tracking, schedule and capacity planning, strategic planning and operations control; and accounting solutions, such as revenue accounting, cost accounting, and business performance index.

It also provides Crane TM, a travel marketplace platform that enables airlines to set up a travel marketplace for its tour operator and online travel agency (OTA) partners to create and sell leisure and business travel packages; travel solutions, including Crane OTA, multilingual and multi-currency online travel platform and Crane APP, an agent portal for airlines; and cargo solutions, such as reservation and cargo services, and domestic cargo services.

In addition, the company offers technical infrastructure and hosting, consultancy and training, and after-sales support and maintenance services. It serves airlines, travel companies, and airports. The company was incorporated in 1994 and is headquartered in Istanbul, Turkey.

Stock analysis

Hitit Bilgisayar Hizmetleri AS (HTTBT) currently trades at 30.12 TRY, while our model-based Fair Value estimate is 30.49 TRY, so the stock looks roughly fairly valued today (gap 1.2%).

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Valuation

Bull case: the Growth Earnings group reads highest at a median of 64.75 TRY per share, and 7 of the 14 models we run sit above the 30.12 TRY price.

Bear case: the Economic Profit group reads lowest at 8.49 TRY, and 7 of the 14 models stay below the price. Data coverage for this calculation is low.

Scenario range: 23.29 TRY (bear) to 37.68 TRY (bull), the price of 30.12 TRY sits inside 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 53/100 (solid quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Hitit Bilgisayar Hizmetleri AS reported revenue of 1.7B TRY in FY2025 versus 128M TRY in FY2021, a compound +89.5%/yr. Reported net income was 389M TRY in FY2025, compounding +102.0%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.

Key figures

Market cap 9.0B TRY (≈ $180M) Micro · P/E ratio 22.3 · P/S ratio 4.68 · EPS (TTM) 1.35 TRY · Net margin 21.3% · Return on equity 13.8% · Return on assets (EBIT) 9.3% (5-year average) · Operating margin 21.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 69 out of 100 (low confidence).

What moves the price

The share trades about 40% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at 1%, HTTBT screens richer than that median.

Fair Value models

Bear 23.29 TRY Fair Value 30.49 TRY Bull 37.68 TRY
Price 30.12 TRY · Upside +1.2%
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 (1.15 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.
Best data coverage
Residual Income 7.71 TRY 8.38 TRY 9.69 TRY 71
EPV 7.99 TRY 8.59 TRY 9.06 TRY 70
ROIC Compounder 7.99 TRY 8.59 TRY 9.06 TRY 70
All 14 models by family
Earnings-Based
Graham-Dodd 8.81 TRY 61.47 TRY 86.27 TRY 63
Lynch FV 31.28 TRY 44.69 TRY 58.10 TRY 61
PEG = 1.0 31.28 TRY 44.69 TRY 58.10 TRY 57
EPV 7.99 TRY 8.59 TRY 9.06 TRY 70
Multiples
P/E Multiple 27.22 TRY 36.30 TRY 45.37 TRY 63
P/S Multiple 16.53 TRY 22.04 TRY 27.55 TRY 58
P/B Multiple 10.53 TRY 14.04 TRY 17.56 TRY 55
EV/EBIT 23.29 TRY 30.49 TRY 37.68 TRY 63
EV/EBITDA 33.43 TRY 44.01 TRY 54.58 TRY 64
EV/Revenue 12.61 TRY 17.29 TRY 21.97 TRY 51
Asset-Based
NCAV (Graham) 0.8700 TRY 1.31 TRY 1.64 TRY 52
Economic Profit
Residual Income 7.71 TRY 8.38 TRY 9.69 TRY 71
ROIC Compounder 7.99 TRY 8.59 TRY 9.06 TRY 70
Growth Earnings
Growth-Adj P/E 45.33 TRY 64.75 TRY 84.18 TRY 67

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Quality Score breakdown

Overall quality 53/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 56
How much profit the company makes from its sales and capital
Quality Growth 72
Are margins and returns getting better?
Cashflow 47
Do the profits arrive as real cash?
Financial strength 89
Debt, balance sheet and risk of trouble
Investment 0
Does it invest with discipline instead of growing at any price?
Low Volatility 78
How calm the share price moves, does not count
Price momentum 9
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 5
Distance to the 52-week high, does not count
New shares 40
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+47.3%
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.
+74.5%
Revenue growth 5 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.
+79.4%
Start year 2020 (pandemic)
Revenue growth 6 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.
+61.3%
What shareholders gained per year (last 5 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 5 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.
+40.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+40.3%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.26% → 22%

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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.Software - Application · 631 stocks

Beats the industry median on 7/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 53 · Below median
Fair Value upside +1.2% · Above median
Profitability
Return on equity (12 months) 13.8% · Above median
Return on assets 10.5% · Top 25%
Net margin (12 months) 21.3% · Top 25%
Operating margin (12 months) 21.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) 32.9% · Top 25%

Valuation Multiplesvs Software - Application median · lower = cheaper

P/E (12 months) 22.3× · Cheaper than median
P/B 3.04× · Pricier than median
P/S (12 months) 4.68× · Pricier than median
EV/EBITDA 17.3× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)35 · sector 29
FUTURE (revenue growth)100 · sector 41
PAST (return on equity)55 · sector 20
HEALTH (low debt)0 · sector 98
DIVIDEND (yield)0 · sector 29

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Adobe Inc ADBE $239.30 $463.72 +94% vs HTTBT
Salesforce, Inc CRM $213.65 $342.73 +60% vs HTTBT
Uber Technologies, Inc UBER $68.59 $101.28 +48% vs HTTBT
Intuit Inc INTU $341.50 $459.14 +34% vs HTTBT
ServiceNow, Inc NOW $101.97 $112.60 +10% vs HTTBT
SAP SE SAP €210.75 €173.59 −18% vs HTTBT
Cadence Design Systems, Inc CDNS $319.92 $225.48 −30% vs HTTBT
Automatic Data Processing, Inc ADP $303.35 $150.40 −50% vs HTTBT
Shopify Inc SHOP $148.91 $64.96 −56% vs HTTBT
Snowflake Inc SNOW $275.88 $73.81 −73% vs HTTBT

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Hitit Bilgisayar Hizmetleri AS: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Hitit Bilgisayar Hizmetleri AS Fair Value". https://www.fairvalue-calculator.com/stock/HTTBT

Frequently asked questions

Is Hitit Bilgisayar Hizmetleri AS (HTTBT) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of 30.49 TRY versus a price of 30.12 TRY, about +1% upside (fairly valued).
What is the fair value of HTTBT?
Our model-based fair value for Hitit Bilgisayar Hizmetleri AS is 30.49 TRY (as of Nov 6, 2026), built from audited fundamentals. The current price: 30.12 TRY.
What is the quality score of HTTBT?
Hitit Bilgisayar Hizmetleri AS has a Quality Score of 53/100. 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 Hitit Bilgisayar Hizmetleri AS (HTTBT)?
Our model-based price target is the fair value of 30.49 TRY (as of Nov 6, 2026) from 14 valuation models. Cautious scenario 23.29 TRY, optimistic scenario 37.68 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Hitit Bilgisayar Hizmetleri AS stock forecast for 2026?
Our models put fair value at 30.49 TRY, about +1% upside versus a price of 30.12 TRY (fairly valued). Cautious scenario 23.29 TRY, optimistic scenario 37.68 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Hitit Bilgisayar Hizmetleri AS (HTTBT)?
Hitit Bilgisayar Hizmetleri AS reported trailing-twelve-month revenue of about 1.9B TRY (latest available figure, as of Nov 6, 2026).
What is the intrinsic value of Hitit Bilgisayar Hizmetleri AS (HTTBT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hitit Bilgisayar Hizmetleri AS it is 30.49 TRY per share (as of Nov 6, 2026), against a price of 30.12 TRY. It is the blended result of 14 valuation models in 5 families (Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Hitit Bilgisayar Hizmetleri AS stock overvalued or undervalued in 2026?
As of Nov 6, 2026, HTTBT trades below its calculated fair value: price 30.12 TRY, fair value 30.49 TRY, a gap of about +1% (fairly valued). 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 HTTBT?
No. The price is what the market pays today (30.12 TRY); the fair value is what the company's own numbers justify (30.49 TRY). For Hitit Bilgisayar Hizmetleri AS the two are 0.3700 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Hitit Bilgisayar Hizmetleri AS worth?
The market values Hitit Bilgisayar Hizmetleri AS at about 9.0B TRY (market capitalisation, as of Nov 6, 2026). Per share that is 30.12 TRY; our models calculate a fair value of 30.49 TRY per share.
What do the bullish and bearish scenarios say about HTTBT?
Our models span a range for Hitit Bilgisayar Hizmetleri AS: cautious scenario 23.29 TRY, base 30.49 TRY, optimistic 37.68 TRY per share (as of Nov 6, 2026, price 30.12 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of HTTBT?
Hitit Bilgisayar Hizmetleri AS trades at a price-to-earnings ratio of 22.3 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 30.49 TRY is built from several models across several years. Other multiples: P/B 3.0, P/S 4.7, EV/EBITDA 17.3.
How solid is the balance sheet of Hitit Bilgisayar Hizmetleri AS (HTTBT)?
Balance-sheet figures for Hitit Bilgisayar Hizmetleri AS (as of Nov 6, 2026): return on equity 13.8%. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is HTTBT from its 52-week high?
Hitit Bilgisayar Hizmetleri AS trades at 30.12 TRY, about 40% below its 52-week high of 49.92 TRY and 7% above the low of 28.06 TRY (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 30.49 TRY is for.
Which stocks are comparable to Hitit Bilgisayar Hizmetleri AS?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, Inc, 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 Hitit Bilgisayar Hizmetleri AS stock attractive at the current price?
The data as of Nov 6, 2026: price 30.12 TRY, calculated fair value 30.49 TRY (+1%), Quality Score 53/100, from 14 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 HTTBT calculated?
We run Hitit Bilgisayar Hizmetleri AS through 14 models from 5 families: Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 30.49 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. Hitit Bilgisayar Hizmetleri AS currently trades 1% 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 Hitit Bilgisayar Hizmetleri AS (HTTBT)?
The closing price on Nov 6, 2026 was 30.12 TRY. Our model-based fair value is 30.49 TRY, about +1% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hitit Bilgisayar Hizmetleri AS right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Hitit Bilgisayar Hizmetleri AS

How large is the market capitalisation of Hitit Bilgisayar Hizmetleri AS (HTTBT)?
The market capitalisation of Hitit Bilgisayar Hizmetleri AS is 9.0B TRY (≈ $180M). 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 Hitit Bilgisayar Hizmetleri AS (HTTBT)?
The price-to-sales ratio of Hitit Bilgisayar Hizmetleri AS is 4.68 (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 Hitit Bilgisayar Hizmetleri AS (HTTBT)?
Earnings per share at Hitit Bilgisayar Hizmetleri AS are 1.35 TRY (price ÷ EPS = P/E 22.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Hitit Bilgisayar Hizmetleri AS (HTTBT)?
The net margin of Hitit Bilgisayar Hizmetleri AS is 21.3% (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 Hitit Bilgisayar Hizmetleri AS (HTTBT)?
The return on equity (ROE) of Hitit Bilgisayar Hizmetleri AS is 13.8% (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 Hitit Bilgisayar Hizmetleri AS (HTTBT)?
On an EBIT basis the return on assets of Hitit Bilgisayar Hizmetleri AS is 9.3% (avg 5y). 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 Hitit Bilgisayar Hizmetleri AS (HTTBT)?
The operating margin of Hitit Bilgisayar Hizmetleri AS is 21.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hitit Bilgisayar Hizmetleri AS (HTTBT)?
Revenue at Hitit Bilgisayar Hizmetleri AS is growing +32.9% versus a year earlier (3y avg +74.5%). 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 Hitit Bilgisayar Hizmetleri AS (HTTBT)?
Earnings per share at Hitit Bilgisayar Hizmetleri AS are growing +4.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Hitit Bilgisayar Hizmetleri AS (HTTBT) generate?
The free cash flow of Hitit Bilgisayar Hizmetleri AS is −77.8M TRY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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