Adel Kalemcilik Ticaret ve Sanayi A.S. (ADEL) Fair Value & Analysis

Industrials · TR · Market cap 7.5B TRY

Below-average quality, and screening another 79% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (7.37 TRY). The favourable scenario is already priced in.
• Weak quality (21/100) 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.
• A fairly wide model range (3.77 TRY to 7.37 TRY) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 4, 2026.

How to read this chart

60‑month range 1.79 TRY – 69.72 TRY · fair‑value band 3.77 TRY – 7.37 TRY · the 28.80 TRY price screens above the 5.93 TRY fair value. Dashed = 300-day average. As of Aug 4, 2026.

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Analysis

Adel Kalemcilik Ticaret ve Sanayi A.S. (ADEL) currently trades at 28.80 TRY, while our model-based Fair Value estimate is 5.93 TRY, implying the stock looks roughly 79.4% overvalued today. We read business quality at 21/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, Adel Kalemcilik Ticaret ve Sanayi A.S. generated revenue of 2.6B TRY at a net margin of -10.7%. Revenue grew 126.9% year over year. It earns a return on equity of -20.4%. Net debt stands at 1.2B TRY. Fundamentals as of Aug 4, 2026

Our scenario range runs from 3.77 TRY (bear case) to 7.37 TRY (bull case); at 28.80 TRY, the current price sits above that range. The share trades about 53% below its 52-week high and 1% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -32% fair-value upside, at -79%, ADEL screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Dividend Discount (9.11 TRY) versus Asset-Based (3.13 TRY). Highest evidence: Gordon GGM (70).

Key figures & financial health

Quality Score breakdown

About the company

Adel Kalemcilik Ticaret ve Sanayi A.S. produces and sells stationery products in Turkey and internationally. The company offers school products, such as copying pencils, blacklead pencils, sharpeners, erasers, colour pencils, oil pastels and crayons, watercolor, fibre tip pens, glue, scissors, drawing pad, painting apron, school bag, pencil case, and lunch …

Full company description

Adel Kalemcilik Ticaret ve Sanayi A.S. produces and sells stationery products in Turkey and internationally. The company offers school products, such as copying pencils, blacklead pencils, sharpeners, erasers, colour pencils, oil pastels and crayons, watercolor, fibre tip pens, glue, scissors, drawing pad, painting apron, school bag, pencil case, and lunch boxes; writing and office products, including mechanical pencils, highlighters, markers and whiteboard markers, scissors, and correction tapes; and hobby items, such as drawing pencils and acrylic paints under the Adel, Faber-Castell, and Graf von Faber-Castell brand names. It also involved in the sale of hygiene products; sale and export of products manufactured in the facilities; and importing, purchasing, and selling of raw, semi-finished, and finished products. Adel Kalemcilik Ticaret ve Sanayi A.S. was incorporated in 1967 and is headquartered in Ümraniye, Turkey. The company operates as a subsidiary of AG Anadolu Grubu Holding A.S.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Adel Kalemcilik Ticaret ve Sanayi A.S. reported revenue of 2.1B TRY in FY2025 versus 486M TRY in FY2021, a compound +44.2%/yr. Reported net income was −502M TRY in FY2025.

ADEL screens 79% overvalued. Compare with Ricoh Company →

Peer Group

Business Equipment & Supplies · 81 stocks

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.

Valuation Multiples vs Business Equipment & Supplies median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0: the price sits above our fair-value range.

Values & ESG

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.