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Viking Kagit ve Seluloz AS (VKING) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Viking Kagit ve Seluloz AS stock TRY 9.06, price TRY 12.20, that is 25.7% below the price, quality 22 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Consumer Defensive TR · ISIN TRAVKING91D6

VK Viking Kagit ve Seluloz AS logo Thin data Nov 10, 2026

Viking Kagit ve Seluloz AS

VKING · IS
Expensive, weak quality

Our calculation puts a fair price 26% below what the stock costs today.

Expensive Growth (revenue 5y +24.6 %/yr in TRY)
Negative equity (buybacks among others)
Revenue last quarter 50% below a year ago.
Fair value 9.06 TRY · Overvalued
Quality 22/100
Loss-making · -163.8% net margin (TTM)
Negative free cash flow
Trails peers (1/7)
Narrow moat 9/100
Thin data
Estimate
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

63.70 TRY 5.24 TRY Fair Value 9.06 TRY Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range 5.24 TRY – 63.70 TRY · fair‑value band 6.79 TRY – 11.32 TRY · the 12.20 TRY price screens above the 9.06 TRY fair value. As of Nov 10, 2026.

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Company profile

Viking Kagit ve Selüloz A.S. engages in the production, marketing, and sale of semi-finished and finished tissue paper in Turkey. It offers toilet paper, towels, napkins, paper, box tissues, and wet wipes under the Premia, Lily, Senso, Select, Pufla, and Select Nature brand names.

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The company also exports its products to approximately 22 countries. The company was incorporated in 1969 and is headquartered in Izmir, Turkey. Viking Kagit ve Selüloz A.S. is a subsidiary of Yasar Holding A.S.

Stock analysis

Viking Kagit ve Seluloz AS (VKING) currently trades at 12.20 TRY, while our estimate is 9.06 TRY, 26% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: 6.79 TRY (bear) to 11.32 TRY (bull), the price of 12.20 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 22/100 (below-average quality), in the Consumer Defensive sector.

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

Viking Kagit ve Seluloz AS reported revenue of 760M TRY in FY2025 versus 340M TRY in FY2021, a compound +22.3%/yr. Reported net income was −983M TRY in FY2025.

Key figures

Market cap 512M TRY (≈ $10.2M) Micro · P/S ratio 0.83 · EPS (TTM) −22.95 TRY · Net margin −129% · Return on equity −1,743% · Return on assets (EBIT) −3.7% (5-year average) · Operating margin −106% · Revenue (TTM) 551M TRY.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 9 out of 100 (medium confidence).

What moves the price

The share trades about 73% below its 52-week high and 23% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Defensive peers we cover trades at −30% fair-value upside, at −26%, VKING screens cheaper than that median.

Fair Value

Bear 6.79 TRY Fair Value 9.06 TRY Bull 11.32 TRY
Price 12.20 TRY · Downside -25.7%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 22/100

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

Profitability 1
How much profit the company makes from its sales and capital
Quality Growth 23
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 1
Debt, balance sheet and risk of trouble
Investment 65
Does it invest with discipline instead of growing at any price?
Low Volatility 56
How calm the share price moves, does not count
Price momentum 0
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 3
Distance to the 52-week high, does not count
New shares 82
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. 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−28.3%
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.
−0.4%
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.
+24.6%
Start year 2020 (pandemic). Over 10 years: +19.1% a year
Revenue growth 20 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.
+12.2%
Profit margin (trend) ⓘ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.
−0.8% (2021) → −35.5% (2025)
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

VKING screens overvalued: fair value 26% below the price. Compare with Colgate-Palmolive Company →

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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.Household & Personal Products · 239 stocks

Beats the industry median on 1/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 22 · Bottom 25%
Fair Value upside −25.7% · Below median
Profitability
Return on equity (12 months) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −22.5% · Bottom 25%
Net margin (12 months) −163.8% · Bottom 25%
Operating margin (12 months) −105.6% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −49.8% · Bottom 25%
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Household & Personal Products median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (12 months) 0.93× · Cheaper than median

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 Household & Personal Products stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Godrej Consumer Products Limited GODREJCP ₹850.65 ₹1,146 +35% vs VKING
Puig Brands, S.A PUIG €19.95 €24.28 +22% vs VKING
Henkel AG HEN €78.20 €82.55 +6% vs VKING
Beiersdorf Aktiengesellschaft, BEI €85.34 €69.09 −19% vs VKING
The Clorox Company CLX $106.60 $74.29 −30% vs VKING
Church & Dwight Co CHD $111.76 $65.04 −42% vs VKING
Colgate-Palmolive Company CL $98.09 $56.16 −43% vs VKING
Marico Limited MARICO ₹902.00 ₹493.84 −45% vs VKING
The Estée Lauder Companies Inc EL $113.43 $44.21 −61% vs VKING
Hindustan Unilever Limited HINDUNILVR ₹1,990 ₹775.25 −61% vs VKING

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Viking Kagit ve Seluloz AS: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Viking Kagit ve Seluloz AS Fair Value". https://www.fairvalue-calculator.com/stock/VKING

Frequently asked questions

Is Viking Kagit ve Seluloz AS (VKING) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is 9.06 TRY versus a price of 12.20 TRY, about 26% lower (overvalued).
What is the fair value of VKING?
Our estimate for Viking Kagit ve Seluloz AS is 9.06 TRY (as of Nov 10, 2026), built from audited fundamentals. The current price: 12.20 TRY.
What is the quality score of VKING?
Viking Kagit ve Seluloz AS has a Quality Score of 22/100. 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 Viking Kagit ve Seluloz AS (VKING)?
Our calculated price target is the estimate of 9.06 TRY (as of Nov 10, 2026). Cautious scenario 6.79 TRY, optimistic scenario 11.32 TRY. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Viking Kagit ve Seluloz AS stock forecast for 2026?
Our estimate puts fair value at 9.06 TRY, about 26% lower versus a price of 12.20 TRY (overvalued). Cautious scenario 6.79 TRY, optimistic scenario 11.32 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Viking Kagit ve Seluloz AS (VKING)?
Viking Kagit ve Seluloz AS reported trailing-twelve-month revenue of about 551M TRY (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Viking Kagit ve Seluloz AS (VKING)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Viking Kagit ve Seluloz AS it is 9.06 TRY per share (as of Nov 10, 2026), against a price of 12.20 TRY.
Is Viking Kagit ve Seluloz AS stock overvalued or undervalued in 2026?
As of Nov 10, 2026, VKING trades above its calculated fair value: price 12.20 TRY, fair value 9.06 TRY, a gap of about −26% (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 VKING?
No. The price is what the market pays today (12.20 TRY); the fair value is what the company's own numbers justify (9.06 TRY). For Viking Kagit ve Seluloz AS the two are 3.14 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Viking Kagit ve Seluloz AS worth?
The market values Viking Kagit ve Seluloz AS at about 512M TRY (market capitalisation, as of Nov 10, 2026). Per share that is 12.20 TRY; our models calculate a fair value of 9.06 TRY per share.
What do the bullish and bearish scenarios say about VKING?
Our models span a range for Viking Kagit ve Seluloz AS: cautious scenario 6.79 TRY, base 9.06 TRY, optimistic 11.32 TRY per share (as of Nov 10, 2026, price 12.20 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Viking Kagit ve Seluloz AS (VKING)?
Balance-sheet figures for Viking Kagit ve Seluloz AS (as of Nov 10, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 22/100, which measures business quality independently of the share price.
How far is VKING from its 52-week high?
Viking Kagit ve Seluloz AS trades at 12.20 TRY, about 73% below its 52-week high of 45.44 TRY and 23% above the low of 9.94 TRY (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of 9.06 TRY is for.
Which stocks are comparable to Viking Kagit ve Seluloz AS?
From the same area (Consumer Defensive) we also value Colgate-Palmolive Company, Hindustan Unilever Limited, The Estée Lauder Companies Inc, Henkel AG, 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 Viking Kagit ve Seluloz AS stock attractive at the current price?
The data as of Nov 10, 2026: price 12.20 TRY, calculated fair value 9.06 TRY (−26%), Quality Score 22/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Viking Kagit ve Seluloz AS 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 Viking Kagit ve Seluloz AS (VKING)?
The closing price on Nov 10, 2026 was 12.20 TRY. Our estimate is 9.06 TRY, about 26% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Viking Kagit ve Seluloz AS right now?
The price sits above even our optimistic bull case (11.32 TRY). The favourable scenario is already priced in. Weak quality (22/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Viking Kagit ve Seluloz AS

How large is the market capitalisation of Viking Kagit ve Seluloz AS (VKING)?
The market capitalisation of Viking Kagit ve Seluloz AS is 512M TRY (≈ $10.2M). 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 Viking Kagit ve Seluloz AS (VKING)?
The price-to-sales ratio of Viking Kagit ve Seluloz AS is 0.83 (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 Viking Kagit ve Seluloz AS (VKING)?
Earnings per share at Viking Kagit ve Seluloz AS are −22.95 TRY. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Viking Kagit ve Seluloz AS (VKING)?
The net margin of Viking Kagit ve Seluloz AS is −129% (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 Viking Kagit ve Seluloz AS (VKING)?
The return on equity (ROE) of Viking Kagit ve Seluloz AS is −1,743% (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 Viking Kagit ve Seluloz AS (VKING)?
On an EBIT basis the return on assets of Viking Kagit ve Seluloz AS is −3.7% (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 Viking Kagit ve Seluloz AS (VKING)?
The operating margin of Viking Kagit ve Seluloz AS is −106% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Viking Kagit ve Seluloz AS (VKING)?
Revenue at Viking Kagit ve Seluloz AS is growing −49.8% versus a year earlier (3y avg −0.4%). 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 Viking Kagit ve Seluloz AS (VKING)?
Earnings per share at Viking Kagit ve Seluloz AS are growing +92.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Viking Kagit ve Seluloz AS (VKING) generate?
The free cash flow of Viking Kagit ve Seluloz AS is −362M TRY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Viking Kagit ve Seluloz AS (VKING) carry?
The net debt of Viking Kagit ve Seluloz AS is 2.8B TRY (fiscal year 2025). 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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