Adel Kalemcilik Ticaret ve Sanayi AS (ADEL) fair value: what the stock is really worth
As of Oct 30, 2026: fair value (intrinsic value) of Adel Kalemcilik Ticaret ve Sanayi AS stock TRY 2.76, price TRY 19.45, that is 85.8% below the price, quality 22 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 2, 2026.
How to read this chart
60‑month range 1.98 TRY – 69.72 TRY · fair‑value band 2.06 TRY – 4.12 TRY · the 19.45 TRY price screens above the 2.76 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 2, 2026.
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Adel Kalemcilik Ticaret ve Sanayi A.S. produces and sells stationery products in Turkey and internationally.
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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 19.45 TRY, while our model-based Fair Value estimate is 2.76 TRY, 85.8% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the data coverage at low.
Scenario range: 2.06 TRY (bear) to 4.12 TRY (bull), the price of 19.45 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 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 5.3B TRY (≈ $105M) Micro · P/S ratio 2.12 · EPS (TTM) −1.45 TRY · Dividend yield 2.7% · Net margin −12.5% · Return on equity −24.6% · Return on assets (EBIT) 8.1% · Operating margin 12.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 20 out of 100 (medium confidence).
What moves the price
The share trades about 66% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −15% fair-value upside, at −86%, ADEL screens richer than that median.
Fair Value models
Bear2.06 TRYFair Value 2.76 TRYBull4.12 TRY
Price 19.45 TRY · Upside -85.8%
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.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.
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%
Start year 2020 (pandemic). Over 10 years: +23.6% 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.
+20.8%
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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
Compare Adel Kalemcilik Ticaret ve Sanayi AS with another stock
Price, fair value, quality and upside side by side.
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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 · 76 stocks
Beats the industry median on 3/10 measures
Overall it trails its industry peers.
Valuation
Quality Score22 · Bottom 25%
Fair Value upside−85.8% · Bottom 25%
Profitability
Return on assets−15.8% · Bottom 25%
Net margin (12 months)−12.5% · Bottom 25%
Operating margin (12 months)12.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)11.7% · Above median
Dividend yield (12 months)2.7% · Above median
Valuation Multiplesvs Business Equipment & Supplies median · lower = cheaper
P/B4.32× · Priciest 25%
P/S (12 months)1.95× · Pricier than median
EV/EBITDA40.3× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 32
FUTURE (revenue growth)59· sector 20
PAST (return on equity)0· sector 28
HEALTH (low debt)100· sector 98
DIVIDEND (yield)55· sector 50
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
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 Nov 2, 2026, our model estimates a fair value of 2.76 TRY versus a price of 19.45 TRY, about 86% lower (overvalued).
What is the fair value of ADEL?
Our model-based fair value for Adel Kalemcilik Ticaret ve Sanayi AS is 2.76 TRY (as of Nov 2, 2026), built from audited fundamentals. The current price: 19.45 TRY.
What is the quality score of ADEL?
Adel Kalemcilik Ticaret ve Sanayi 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 Adel Kalemcilik Ticaret ve Sanayi AS (ADEL)?
Our model-based price target is the fair value of 2.76 TRY (as of Nov 2, 2026) from 1 valuation models. Cautious scenario 2.06 TRY, optimistic scenario 4.12 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 2.76 TRY, about 86% lower versus a price of 19.45 TRY (overvalued). Cautious scenario 2.06 TRY, optimistic scenario 4.12 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 2.7B TRY (latest available figure, as of Nov 2, 2026).
Does Adel Kalemcilik Ticaret ve Sanayi AS pay a dividend?
Adel Kalemcilik Ticaret ve Sanayi AS currently shows a dividend yield of 2.74% relative to its recent price (as of Nov 2, 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 2.76 TRY per share (as of Nov 2, 2026), against a price of 19.45 TRY. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Adel Kalemcilik Ticaret ve Sanayi AS stock overvalued or undervalued in 2026?
As of Nov 2, 2026, ADEL trades above its calculated fair value: price 19.45 TRY, fair value 2.76 TRY, a gap of about −86% (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 (19.45 TRY); the fair value is what the company's own numbers justify (2.76 TRY). For Adel Kalemcilik Ticaret ve Sanayi AS the two are 16.69 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 5.3B TRY (market capitalisation, as of Nov 2, 2026). Per share that is 19.45 TRY; our models calculate a fair value of 2.76 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 2.06 TRY, base 2.76 TRY, optimistic 4.12 TRY per share (as of Nov 2, 2026, price 19.45 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 Nov 2, 2026): return on equity −24.6%. They feed the Quality Score of 22/100, 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 19.45 TRY, about 66% below its 52-week high of 57.10 TRY and at the low of 19.45 TRY (as of Oct 30, 2026). Distance from the high says nothing about value: that is what the fair value of 2.76 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, Crane NXT, Co, Shanghai M&G Stationery Inc, XGD 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 Adel Kalemcilik Ticaret ve Sanayi AS stock attractive at the current price?
The data as of Nov 2, 2026: price 19.45 TRY, calculated fair value 2.76 TRY (−86%), Quality Score 22/100, from 1 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 1 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 2.76 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 14.9 % 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 Oct 30, 2026 was 19.45 TRY. Our model-based fair value is 2.76 TRY, about 86% lower (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 (4.12 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. 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 (2.06 TRY to 4.12 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 5.3B TRY (≈ $105M). 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 2.12 (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 −1.45 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 2.7%. 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 −12.5% (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 Adel Kalemcilik Ticaret ve Sanayi AS (ADEL)?
The return on equity (ROE) of Adel Kalemcilik Ticaret ve Sanayi AS is −24.6% (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 12.0% (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 +11.7% 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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Nov 2, 2026