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Adel Kalemcilik Ticaret ve Sanayi AS (ADEL) fair value: what the stock is really worth

We calculate from audited financials what Adel Kalemcilik Ticaret ve Sanayi AS is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Industrials · TR · ISIN TRAADELW91T1

AK Thin data Sep 13, 2026

Adel Kalemcilik Ticaret ve Sanayi AS

ADEL · IS

Weakest SetupStrongly overvalued and low quality.

!Fair value 5.93 TRY · Strongly overvalued (−80%)
!Quality 23/100
!Expensive Growth (revenue 5y +39.9 %/yr)
!Loss-making · -10.7% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (4/11)
!Narrow moat 15/100
!Evidence only low, so the estimate is less certain
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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

69.72 TRY 1.93 TRY Fair Value 5.93 TRY Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.

How to read this chart

60‑month range 1.93 TRY – 69.72 TRY · fair‑value band 3.77 TRY – 7.37 TRY · the 29.66 TRY price screens above the 5.93 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 13, 2026.

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Company profile

Adel Kalemcilik Ticaret ve Sanayi A.S. produces and sells stationery products in Turkey and internationally.

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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.

Stock analysis

Adel Kalemcilik Ticaret ve Sanayi AS (ADEL) currently trades at 29.66 TRY, while our model-based Fair Value estimate is 5.93 TRY, implying the stock looks roughly 400.3% overvalued today.

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Valuation

Bull case: the Dividend Discount group reads highest at a median of 9.11 TRY per share, and 0 of the 3 models we run sit above the 29.66 TRY price.

Bear case: the Asset-Based group reads lowest at 3.13 TRY, and 3 of the 3 models stay below the price. Evidence for this calculation is low.

Scenario range: 3.77 TRY (bear) to 7.37 TRY (bull), the price of 29.66 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 23/100 (below-average quality), in the Industrials sector.

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

Adel Kalemcilik Ticaret ve Sanayi AS 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.

Key figures

Market cap 7.7B TRY (≈ $158M) · P/S ratio 2.92 · EPS (TTM) −1.06 TRY · Dividend yield 2.1% · Net margin −23.9% · Return on equity −20.4% · Return on assets (EBIT) 8.1% · Operating margin −2.6%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).

What moves the price

The share trades about 51% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −61% fair-value upside, at −80%, ADEL screens richer than that median.

Fair Value models

Bear 3.77 TRY Fair Value 5.93 TRY Bull 7.37 TRY
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. 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. Evidence ⓘEvidence = 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.
Highest evidence
Gordon GGM 5.29 TRY 10.54 TRY 15.96 TRY 67
DDM Multi-Stage 5.29 TRY 9.11 TRY 11.13 TRY 67
NCAV (Graham) 2.34 TRY 3.13 TRY 4.68 TRY 54
All 3 models by family
Dividend Discount
Gordon GGM 5.29 TRY 10.54 TRY 15.96 TRY 67
DDM Multi-Stage 5.29 TRY 9.11 TRY 11.13 TRY 67
Asset-Based
NCAV (Graham) 2.34 TRY 3.13 TRY 4.68 TRY 54

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Quality Score breakdown

Overall quality 23/100

Of which business quality 26 · Market factors (momentum, volatility) 32

Profitability 18
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Cashflow 1
Earnings quality: real cash, not paper profit
Fin. Strength 53
Balance sheet, leverage, solvency risk
Investment 29
Disciplined investing over empire-building
Low Volatility 54
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 40
Share count: buybacks or dilution?

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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
−40.9%
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.
+32.9%
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.
+39.9%
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.
+20.8%
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.
9.2% (2020) → −10.2% (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

ADEL screens 400% overvalued. Compare with GRG Banking Equipment Co →

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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.Business Equipment & Supplies · 75 stocks

Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 23 · Bottom 25%
Fair Value upside −81% · Bottom 25%
Profitability
Return on assets 0% · Below median
Net margin (TTM) −11% · Bottom 25%
Operating margin (TTM) −3% · Bottom 25%
Growth and dividend
Revenue growth 127% · Top 25%
Dividend yield (TTM) 2.1% · Below median

Valuation Multiplesvs Business Equipment & Supplies median · lower = cheaper

P/B 0.13× · Cheapest 25%
P/S (TTM) 0.06× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 33
FUTURE (revenue growth)100 · sector 19
PAST (return on equity)0 · sector 17
HEALTH (low debt)100 · sector 98
DIVIDEND (yield)42 · sector 52

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

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 Business Equipment & Supplies stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
GRG Banking Equipment Co 002152 ¥9.45 ¥10.40 +10%
Shanghai M&G Stationery Inc 603899 ¥21.86 ¥37.37 +71%
XGD Inc 300130 ¥18.18 ¥22.58 +24%
DOMS Industries Limited DOMS ₹2,121 ₹782.96 −63%
Hengbao Co 002104 ¥11.80 ¥2.09 −82%
Shaanxi Fenghuo Electronics Co 000561 ¥7.97 ¥1.75 −78%
Shenzhen Comix Group 002301 ¥7.81 ¥3.07 −61%
Shandong New Beiyang Information Technology Co 002376 ¥6.46 ¥2.10 −67%
Cashway Fintech Co 603106 ¥7.56 ¥1.68 −78%
Qingdao Hiron Commercial Cold Chain Co 603187 ¥10.65 ¥24.36 +129%

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Adel Kalemcilik Ticaret ve Sanayi AS · Fair Value
5.93 TRY −400%Fair Value
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Cite: Fair Value Calculator (2026). "Adel Kalemcilik Ticaret ve Sanayi AS Fair Value". https://www.fairvalue-calculator.com/stock/ADEL

Frequently asked questions

Is Adel Kalemcilik Ticaret ve Sanayi AS (ADEL) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of 5.93 TRY versus a price of 29.66 TRY, about −80% upside (overvalued).
What is the fair value of ADEL?
Our model-based fair value for Adel Kalemcilik Ticaret ve Sanayi AS is 5.93 TRY (as of Sep 13, 2026), built from audited fundamentals. The current price: 29.66 TRY.
What is the quality score of ADEL?
Adel Kalemcilik Ticaret ve Sanayi AS has a Quality Score of 23/100. 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 Adel Kalemcilik Ticaret ve Sanayi AS (ADEL)?
Our model-based price target is the fair value of 5.93 TRY (as of Sep 13, 2026) from 3 valuation models. Cautious scenario 3.77 TRY, optimistic scenario 7.37 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Adel Kalemcilik Ticaret ve Sanayi AS stock forecast for 2026?
Our models put fair value at 5.93 TRY, about −80% upside versus a price of 29.66 TRY (overvalued). Cautious scenario 3.77 TRY, optimistic scenario 7.37 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Adel Kalemcilik Ticaret ve Sanayi AS (ADEL)?
Adel Kalemcilik Ticaret ve Sanayi AS reported trailing-twelve-month revenue of about 2.6B TRY (latest available figure, as of Sep 13, 2026).
Does Adel Kalemcilik Ticaret ve Sanayi AS pay a dividend?
Adel Kalemcilik Ticaret ve Sanayi AS currently shows a dividend yield of about 2.09% relative to its recent price (as of Sep 13, 2026).
What is the intrinsic value of Adel Kalemcilik Ticaret ve Sanayi AS (ADEL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Adel Kalemcilik Ticaret ve Sanayi AS it is 5.93 TRY per share (as of Sep 13, 2026), against a price of 29.66 TRY. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Adel Kalemcilik Ticaret ve Sanayi AS stock overvalued or undervalued in 2026?
As of Sep 13, 2026, ADEL trades above its calculated fair value: price 29.66 TRY, fair value 5.93 TRY, a gap of about −80% (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 ADEL?
No. The price is what the market pays today (29.66 TRY); the fair value is what the company's own numbers justify (5.93 TRY). For Adel Kalemcilik Ticaret ve Sanayi AS the two are 23.73 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Adel Kalemcilik Ticaret ve Sanayi AS worth?
The market values Adel Kalemcilik Ticaret ve Sanayi AS at about 7.7B TRY (market capitalisation, as of Sep 13, 2026). Per share that is 29.66 TRY; our models calculate a fair value of 5.93 TRY per share.
What do the bullish and bearish scenarios say about ADEL?
Our models span a range for Adel Kalemcilik Ticaret ve Sanayi AS: cautious scenario 3.77 TRY, base 5.93 TRY, optimistic 7.37 TRY per share (as of Sep 13, 2026, price 29.66 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Adel Kalemcilik Ticaret ve Sanayi AS (ADEL)?
Balance-sheet figures for Adel Kalemcilik Ticaret ve Sanayi AS (as of Sep 13, 2026): return on equity −20.4%. They feed the Quality Score of 23/100, which measures business quality independently of the share price.
How far is ADEL from its 52-week high?
Adel Kalemcilik Ticaret ve Sanayi AS trades at 29.66 TRY, about 51% below its 52-week high of 61.15 TRY and 4% above the low of 28.40 TRY (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of 5.93 TRY is for.
Which stocks are comparable to Adel Kalemcilik Ticaret ve Sanayi AS?
From the same area (Industrials) we also value GRG Banking Equipment Co, Shanghai M&G Stationery Inc, XGD Inc, DOMS Industries Limited, 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 Adel Kalemcilik Ticaret ve Sanayi AS stock attractive at the current price?
The data as of Sep 13, 2026: price 29.66 TRY, calculated fair value 5.93 TRY (−80%), Quality Score 23/100, from 3 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 ADEL calculated?
We run Adel Kalemcilik Ticaret ve Sanayi AS through 3 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 5.93 TRY, 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 15.5 % above its aggregate fair value. Adel Kalemcilik Ticaret ve Sanayi 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 Adel Kalemcilik Ticaret ve Sanayi AS (ADEL)?
The closing price on Sep 17, 2026 was 29.66 TRY. Our model-based fair value is 5.93 TRY, about −80% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Adel Kalemcilik Ticaret ve Sanayi AS right now?
The price sits above even our optimistic bull case (7.37 TRY). The favourable scenario is already priced in. Weak quality (23/100) 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.

Key figures of Adel Kalemcilik Ticaret ve Sanayi AS

How large is the market capitalisation of Adel Kalemcilik Ticaret ve Sanayi AS (ADEL)?
The market capitalisation of Adel Kalemcilik Ticaret ve Sanayi AS is 7.7B TRY (≈ $158M). 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 Adel Kalemcilik Ticaret ve Sanayi AS (ADEL)?
The price-to-sales ratio of Adel Kalemcilik Ticaret ve Sanayi AS is 2.92 (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 Adel Kalemcilik Ticaret ve Sanayi AS (ADEL)?
Earnings per share at Adel Kalemcilik Ticaret ve Sanayi AS are −1.06 TRY. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Adel Kalemcilik Ticaret ve Sanayi AS (ADEL)?
The dividend yield of Adel Kalemcilik Ticaret ve Sanayi AS is 2.1%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Adel Kalemcilik Ticaret ve Sanayi AS (ADEL)?
The net margin of Adel Kalemcilik Ticaret ve Sanayi AS is −23.9% (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 Adel Kalemcilik Ticaret ve Sanayi AS (ADEL)?
The return on equity (ROE) of Adel Kalemcilik Ticaret ve Sanayi AS is −20.4% (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 Adel Kalemcilik Ticaret ve Sanayi AS (ADEL)?
On an EBIT basis the return on assets of Adel Kalemcilik Ticaret ve Sanayi AS is 8.1% (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 Adel Kalemcilik Ticaret ve Sanayi AS (ADEL)?
The operating margin of Adel Kalemcilik Ticaret ve Sanayi AS is −2.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Adel Kalemcilik Ticaret ve Sanayi AS (ADEL)?
Revenue at Adel Kalemcilik Ticaret ve Sanayi AS is growing +127% versus a year earlier (3y avg +32.9%). 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 Adel Kalemcilik Ticaret ve Sanayi AS (ADEL)?
Earnings per share at Adel Kalemcilik Ticaret ve Sanayi AS are growing −34.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Adel Kalemcilik Ticaret ve Sanayi AS (ADEL) generate?
The free cash flow of Adel Kalemcilik Ticaret ve Sanayi AS is −354M 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 Adel Kalemcilik Ticaret ve Sanayi AS (ADEL) carry?
The net debt of Adel Kalemcilik Ticaret ve Sanayi AS is 1.2B 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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