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Adra Gayrimenkul Yatirim Ortakligi Anonim Sirketi (ADGYO) Fair Value & Analysis

Real Estate · TR · Market cap 26.0B TRY

AG Adra Gayrimenkul Yatirim Ortakligi Anonim Sirketi ADGYO · IS
Price47.56 TRY
Fair Value12.91 TRY
Upside-72.9%
Quality38/100
Weak Growth
Loss-making · -93.5% net margin
Low debt · generates free cash flow
Ranks above peers (6/10)
Narrow moat 35/100
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Evidence: Medium Range 9.64 TRY – 16.18 TRY Share as image

Fair value as of: Aug 4, 2026

From 12 valuation models · updated today

Share price −11.9% over the past month.

Below-average quality, and screening another 73% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (16.18 TRY). The favourable scenario is already priced in.
  • Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (3 years)

71.00 TRY 24.92 TRY Fair Value 12.91 TRY Sep 2023 Aug 2026

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

34‑month range 24.92 TRY – 71.00 TRY · fair‑value band 9.64 TRY – 16.18 TRY · the 47.56 TRY price screens above the 12.91 TRY fair value. Dashed = 300-day average. As of Aug 4, 2026.

Which stocks are undervalued right now? Check free Discover now →

Analysis

Adra Gayrimenkul Yatirim Ortakligi Anonim Sirketi (ADGYO) currently trades at 47.56 TRY, while our model-based Fair Value estimate is 12.91 TRY, implying the stock looks roughly 72.9% overvalued today. We read business quality at 38/100 (below-average quality), in the Real Estate 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: medium).

Over the trailing twelve months, Adra Gayrimenkul Yatirim Ortakligi Anonim Sirketi generated revenue of 838M TRY at a net margin of -93.5%. Revenue grew 17.4% year over year. It earns a return on equity of -7.1%. Net debt stands at 91.1M TRY. Fundamentals as of Aug 4, 2026

Our scenario range runs from 9.64 TRY (bear case) to 16.18 TRY (bull case); at 47.56 TRY, the current price sits above that range. The share trades about 34% below its 52-week high and 31% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -44% fair-value upside, at -73%, ADGYO 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 37.80 TRY 73.52 TRY 132.06 TRY 80
ROIC Compounder 7.26 TRY 8.22 TRY 9.05 TRY 72
EPV 7.26 TRY 8.22 TRY 9.05 TRY 59
All 12 models by family
DCF Models
FCF DCF 40.10 TRY 62.21 TRY 132.64 TRY 38
5Y Revenue Exit 14.19 TRY 18.21 TRY 26.19 TRY 39
5Y EBITDA Exit 17.75 TRY 25.42 TRY 40.28 TRY 41
10Y Revenue Exit 21.80 TRY 33.91 TRY 37.81 TRY 36
10Y EBITDA Exit 24.52 TRY 41.59 TRY 67.78 TRY 37
Earnings-Based
EPV 7.26 TRY 8.22 TRY 9.05 TRY 59
Multiples
EV/EBIT 11.82 TRY 15.24 TRY 18.67 TRY 53
EV/EBITDA 9.03 TRY 11.53 TRY 14.03 TRY 54
EV/Revenue 4.12 TRY 5.23 TRY 6.34 TRY 43
Asset-Based
NCAV (Graham) 13.35 TRY 17.89 TRY 26.70 TRY 50
Growth DCF
Growth DCF 37.80 TRY 73.52 TRY 132.06 TRY 80
Economic Profit
ROIC Compounder 7.26 TRY 8.22 TRY 9.05 TRY 72

Widest divergence: Growth DCF (73.52 TRY) versus Earnings-Based (8.22 TRY). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 838M TRY
Revenue growth (YoY) +17.4%
Net margin -93.5%
Return on equity -7.1%
Free cash flow 1.3B TRY FY2025
Operating margin 83.5%
More key figures
EPS (TTM) -1.54 TRY
EPS growth (YoY) -62.5%
Net debt 91.1M TRY FY2021

Figures from reported company fundamentals · as of Aug 4, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 38/100

Of which business quality 42 · Market factors (momentum, volatility) 41

Profitability 3
Margins and returns on capital today
Quality Growth 18
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 23
Disciplined investing over empire-building
Low Volatility 66
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 37
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Adra Gayrimenkul Yatirim Ortakligi Anonim Sirketi operates as a real estate investment trust in Turkey. The company manages portfolios of real estate, real estate projects, real estate-based rights, capital market instruments, and other assets. It also engages in real estate investment activities.

Full company description

Adra Gayrimenkul Yatirim Ortakligi Anonim Sirketi operates as a real estate investment trust in Turkey. The company manages portfolios of real estate, real estate projects, real estate-based rights, capital market instruments, and other assets. It also engages in real estate investment activities. In addition, the company engages in establishment, rental, operation of hotels, motels, hostels, campsites, and guesthouses for tourism, and business operations. Adra Gayrimenkul Yatirim Ortakligi Anonim Sirketi was incorporated in 2020 and is headquartered in Izmir, Turkey.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Adra Gayrimenkul Yatirim Ortakligi Anonim Sirketi reported revenue of 807M TRY in FY2025 versus 10.6M TRY in FY2021, a compound +195.3%/yr. Reported net income was −606M TRY in FY2025.

Growth Quality 29/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
807M TRY
Latest YoY
+6.4%
Avg. growth/yr (3Y)
−10.0%
Revenue +195.3%/yr
FY21 10.6M TRY
FY22 1.1B TRY
FY23 708M TRY
FY24 759M TRY
FY25 807M TRY
Net income
FY21 53.2M TRY
FY22 1.1B TRY
FY23 553M TRY
FY24 1.6B TRY
FY25 −606M TRY

ADGYO screens 73% overvalued. Compare with AvalonBay Communities, Inc →

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Cite: Fair Value Calculator (2026). "Adra Gayrimenkul Yatirim Ortakligi Anonim Sirketi Fair Value". https://www.fairvalue-calculator.com/stock/ADGYO

Peer Group

REIT - Residential · 55 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.

Quality Score 37 · Bottom 25%
Fair Value upside −73% · Bottom 25%
Return on assets 2% · Above median
Net margin (TTM) -94% · Bottom 25%
Operating margin (TTM) 84% · Top 25%
Revenue growth 17% · Top 25%

Valuation Multiples vs REIT - Residential median · lower = cheaper

P/S (TTM) 0.65× · Cheaper than 75% of peers
P/FCF 0.4× · Cheaper than 75% of peers

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 · sector 2
FUTURE 87 · sector 6
PAST 0 · sector 5
HEALTH 100 · sector 58
DIVIDEND 0 · sector 75

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.

None of the checked exposures detected

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

Similar stocks

10 more REIT - Residential stocks, each showing price versus our Fair Value estimate (as of Aug 4, 2026).

Stock Price Fair Value vs Fair Value
AvalonBay Communities, Inc AVB $190.80 $126.12 -34%
EQR EQR $67.86 $38.10 -44%
Essex Property Trust, Inc ESS $293.46 $177.90 -39%
Invitation Homes INVH $29.78 $16.82 -44%
Mid-America Apartment Communities, Inc MAA $133.88 $65.28 -51%
Sun Communities, Inc SUI $121.83 $114.79 -6%
UDR, Inc UDR $39.59 $19.76 -50%
American Homes 4 Rent (AMH or the General Partner) AMH $33.11 $21.44 -35%
Equity LifeStyle Properties, Inc ELS $66.05 $21.27 -68%
Camden Property Trust, an S&P 500 Company CPT $113.73 $41.87 -63%

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Frequently asked questions

Is Adra Gayrimenkul Yatirim Ortakligi Anonim Sirketi (ADGYO) overvalued or undervalued?
As of Aug 4, 2026, our model estimates a fair value of 12.91 TRY versus a price of 47.56 TRY, about −73% (overvalued).
What is the fair value of ADGYO?
Our model-based fair value for Adra Gayrimenkul Yatirim Ortakligi Anonim Sirketi is 12.91 TRY (as of Aug 4, 2026), built from audited fundamentals. The current price is 47.56 TRY.
What is the quality score of ADGYO?
Adra Gayrimenkul Yatirim Ortakligi Anonim Sirketi has a Quality Score of 38/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Adra Gayrimenkul Yatirim Ortakligi Anonim Sirketi (ADGYO)?
Adra Gayrimenkul Yatirim Ortakligi Anonim Sirketi reported trailing-twelve-month revenue of about 838M TRY (latest available figure, as of Aug 4, 2026).
What is the net profit margin of ADGYO?
The net profit margin of Adra Gayrimenkul Yatirim Ortakligi Anonim Sirketi is about -93.5%, meaning it is currently running at a net loss. Based on the latest reported figures.

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.

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