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STOCK COMPARISON

Linde vs Mercan Kimya Sanayi ve Ticaret AS: Fair Value & Quality

Both stocks run through our valuation models. Here is how Linde (LIN) and Mercan Kimya Sanayi ve Ticaret AS (MERCN) compare, as of Sep 27, 2026.

As of Sep 27, 2026, Fair Value Calculator sees Linde as the less overvalued of the two: Linde trades at $470 versus a fair value of $442 (−6.0%), while Mercan Kimya Sanayi ve Ticaret AS trades at TRY 14.41 versus TRY 10.57 (−26.6%).
Linde
LIN · USD · Materials
−6.0%
upside to fair value
fairly valued
Price$470
Fair Value$442
Quality69/100
Mercan Kimya Sanayi ve Ticaret AS
MERCN.IS · TRY · Materials
−26.6%
upside to fair value
overvalued
PriceTRY 14.41
Fair ValueTRY 10.57
Quality37/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

LindeMercan Kimya Sanayi ve Ticaret AS
Valuation
30.4×P/E (TTM)18.2×
26.3×Forward P/E (FY2026)n/a
34.2×Median P/E at FY-end (10 FY, ex one-offs where documented)n/a
6.16×P/S (TTM)1.39×
5.71× · book value is mostly goodwillP/B1.64×
16.9×EV/EBITDA9.3×
1.80×PEGn/a
−6.0%Fair value upside−26.6%
1.3%Dividend yield1.5%
$6.20Dividend per shareTRY 0.21
Profitability
28.1%Operating margin7.4%
1.84×EBIT margin trend (5Y)1.35×
18.4%Return on equity5.5%
7.2%Return on assets6.5%
Growth
9.3%Revenue growth (YoY)-1.3%
0.6%Avg. growth/yr (3Y)72.9%
4.5%Avg. growth/yr (5Y)74.5%
+24.2%Value creation/yr+37.4%
Balance & size
42.1×Interest coverage (EBIT/interest)1.6×
0.54×Debt / equity0.05×
$218BMarket cap$82M
healthyGrowth qualityexpensive
Linde, median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, 7 of the years ex one-offs: 34.2.

Mercan Kimya Sanayi ve Ticaret AS leads: 6 to 8 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Lindeof which business quality 66 · market factors 53 Mercan Kimya Sanayi ve Ticaret ASof which business quality 38 · market factors 18
ProfitabilityMargins and returns on capital today
51
38
Quality GrowthAre margins and returns improving?
51
60
CashflowEarnings quality: real cash, not paper profit
64
8
Fin. StrengthBalance sheet, leverage, solvency risk
69
58
InvestmentDisciplined investing over empire-building
70
29
Low VolatilityCalm price path (market factor)
87
50
MomentumPrice trend over the last 3–12 months (market factor)
36
7
52W MomentumDistance to the 52-week high (market factor)
43
0
Net IssuanceShare count: buybacks or dilution?
95
40

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyLindePrice $470Mercan Kimya Sanayi ve Ticaret ASPrice TRY 14.41
DCF Models−53.9%below the price$217+193.3%above the priceTRY 42.26
Earnings-Based−71.9%below the price$132+81.1%above the priceTRY 26.09
Dividend Discount−75.2%below the price$116−96.5%below the priceTRY 0.51
Multiples−49.0%below the price$240+23.6%above the priceTRY 17.81
Asset-Based−88.2%below the price$55.59−40.5%below the priceTRY 8.58
Growth DCF−66.0%below the price$160n/a
Economic Profit−66.9%below the price$156+14.2%close to the priceTRY 16.46
Growth Earnings−56.5%below the price$205+122.8%above the priceTRY 32.10
Minimum−88.2%below the price$55.59−96.5%below the priceTRY 0.51
Maximum−49.0%below the price$240+193.3%above the priceTRY 42.26
Median−66.4%below the price$158+23.6%above the priceTRY 17.81
Geometric mean−68.6%below the price$148−14.0%close to the priceTRY 12.39

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Linde: 26 of 26 models see the stock below the current price.

Mercan Kimya Sanayi ve Ticaret AS: 7 of 17 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Linde
Price $470
Fair Value $442
Bear $247Bull $583
Mercan Kimya Sanayi ve Ticaret AS
Price TRY 14.41
Fair Value TRY 10.57
Bear TRY 7.40Bull TRY 13.74

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Linde · Materials

Quality score69 · Top 25%
Fair value upside−6.0% · above median

Mercan Kimya Sanayi ve Ticaret AS · Materials

Quality score37 · bottom 25%
Fair value upside−26.6% · below median

Bottom line

As of Sep 27, 2026, Fair Value Calculator sees Linde as the less overvalued of the two: Linde trades at $470 versus a fair value of $442 (−6.0%), while Mercan Kimya Sanayi ve Ticaret AS trades at TRY 14.41 versus TRY 10.57 (−26.6%).

Linde has the higher quality score (69/100).

Open Linde live analysis →
Linde · Mercan Kimya Sanayi ve Ticaret AS

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.