Afyon Cimento Sanayi TAS (AFYON) fair value: what the stock is really worth
As of Oct 28, 2026: fair value (intrinsic value) of Afyon Cimento Sanayi TAS stock TRY 10.48, price TRY 10.80, upside -3.0%, quality 41 out of 100. Rating: fairly valued. 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 Oct 29, 2026.
How to read this chart
60‑month range 2.28 TRY – 16.42 TRY · fair‑value band 9.85 TRY – 10.48 TRY · the 10.80 TRY price screens above the 10.48 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 29, 2026.
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Afyon Çimento Sanayi Türk Anonim Sirketi engages in the production and selling of cement in Turkey. It offers cement products, such as Çimsa Master power, Çimsa Izo Power 42.5, Çimsa Resistant LA, and Çimsa Rapid 42.5. The company was founded in 1954 and is headquartered in Istanbul, Turkey.
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Afyon Çimento Sanayi Türk Anonim Sirketi is a subsidiary of Cimsa Cimento Sanayi ve Ticaret Anonim Sirketi.
Stock analysis
Afyon Cimento Sanayi TAS (AFYON) currently trades at 10.80 TRY, while our model-based Fair Value estimate is 10.48 TRY, so the stock looks roughly fairly valued today (gap 3.1%).
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Valuation
Bull case: the Multiples group reads highest at a median of 14.31 TRY per share, and 4 of the 14 models we run sit above the 10.80 TRY price.
Bear case: the Asset-Based group reads lowest at 3.48 TRY, and 10 of the 14 models stay below the price. Data coverage for this calculation is low.
Scenario range: 9.85 TRY (bear) to 10.48 TRY (bull), the price of 10.80 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 41/100 (below-average quality), in the Basic Materials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Afyon Cimento Sanayi TAS reported revenue of 3.9B TRL in FY2025 versus 413M TRL in FY2021, a compound +74.9%/yr. Reported net income was 241M TRL in FY2025, compounding +33.1%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 4.3B TRY (≈ $86.7M) Micro · P/E ratio 38.6 · P/S ratio 0.92 · EPS (TTM) 0.2800 TRY · Dividend yield 11.0% · Net margin 2.5% · Return on equity 1.5% · Return on assets (EBIT) 13.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (medium confidence).
What moves the price
The share trades about 34% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −48% fair-value upside, at −3%, AFYON screens cheaper than that median.
Fair Value models
Bear9.85 TRYFair Value 10.48 TRYBull10.48 TRY
Price 10.80 TRY · Upside -3.0%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.2317 TRY per share) are deliberately not added.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.52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−8.8%
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.
+42.9%
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.
+70.3%
Start year 2020 (pandemic). Over 10 years: +50.6% a year
Revenue growth 23 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.
−31.3%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
+90.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+79.9%
Dividend (yield on the price)11.0%
Profit margin 2020 to 2025 ⓘ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.4% → 15%
Compare Afyon Cimento Sanayi TAS 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.Building Materials · 254 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score41 · Bottom 25%
Fair Value upside−3.0% · Below median
Profitability
Return on equity (12 months)1.5% · Below median
Return on assets2.8% · Above median
Net margin (12 months)2.5% · Below median
Operating margin (12 months)23.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)34.8% · Top 25%
Dividend yield (12 months)11.0% · Top 25%
Valuation Multiplesvs Building Materials median · lower = cheaper
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). "Afyon Cimento Sanayi TAS Fair Value". https://www.fairvalue-calculator.com/stock/AFYON
Frequently asked questions
Is Afyon Cimento Sanayi TAS (AFYON) overvalued or undervalued?
As of Oct 29, 2026, our model estimates a fair value of 10.48 TRY versus a price of 10.80 TRY, about −3% upside (fairly valued).
What is the fair value of AFYON?
Our model-based fair value for Afyon Cimento Sanayi TAS is 10.48 TRY (as of Oct 29, 2026), built from audited fundamentals. The current price: 10.80 TRY.
What is the quality score of AFYON?
Afyon Cimento Sanayi TAS has a Quality Score of 41/100. 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 Afyon Cimento Sanayi TAS (AFYON)?
Our model-based price target is the fair value of 10.48 TRY (as of Oct 29, 2026) from 14 valuation models. Cautious scenario 9.85 TRY, optimistic scenario 10.48 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Afyon Cimento Sanayi TAS stock forecast for 2026?
Our models put fair value at 10.48 TRY, about −3% upside versus a price of 10.80 TRY (fairly valued). Cautious scenario 9.85 TRY, optimistic scenario 10.48 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Afyon Cimento Sanayi TAS (AFYON)?
Afyon Cimento Sanayi TAS reported trailing-twelve-month revenue of about 4.7B TRY (latest available figure, as of Oct 29, 2026).
Does Afyon Cimento Sanayi TAS pay a dividend?
Afyon Cimento Sanayi TAS currently shows a dividend yield of 11.01% relative to its recent price (as of Oct 29, 2026).
What is the intrinsic value of Afyon Cimento Sanayi TAS (AFYON)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Afyon Cimento Sanayi TAS it is 10.48 TRY per share (as of Oct 29, 2026), against a price of 10.80 TRY. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Afyon Cimento Sanayi TAS stock overvalued or undervalued in 2026?
As of Oct 29, 2026, AFYON trades above its calculated fair value: price 10.80 TRY, fair value 10.48 TRY, a gap of about −3% (fairly valued). 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 AFYON?
No. The price is what the market pays today (10.80 TRY); the fair value is what the company's own numbers justify (10.48 TRY). For Afyon Cimento Sanayi TAS the two are 0.3200 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Afyon Cimento Sanayi TAS worth?
The market values Afyon Cimento Sanayi TAS at about 4.3B TRY (market capitalisation, as of Oct 29, 2026). Per share that is 10.80 TRY; our models calculate a fair value of 10.48 TRY per share.
What do the bullish and bearish scenarios say about AFYON?
Our models span a range for Afyon Cimento Sanayi TAS: cautious scenario 9.85 TRY, base 10.48 TRY, optimistic 10.48 TRY per share (as of Oct 29, 2026, price 10.80 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AFYON?
Afyon Cimento Sanayi TAS trades at a price-to-earnings ratio of 38.6 (as of Oct 29, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 10.48 TRY is built from several models across several years. Other multiples: P/B 0.6, P/S 0.9, EV/EBITDA 2.5.
How solid is the balance sheet of Afyon Cimento Sanayi TAS (AFYON)?
Balance-sheet figures for Afyon Cimento Sanayi TAS (as of Oct 29, 2026): return on equity 1.5%. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is AFYON from its 52-week high?
Afyon Cimento Sanayi TAS trades at 10.80 TRY, about 34% below its 52-week high of 16.42 TRY and 1% above the low of 10.66 TRY (as of Oct 28, 2026). Distance from the high says nothing about value: that is what the fair value of 10.48 TRY is for.
Which stocks are comparable to Afyon Cimento Sanayi TAS?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Martin Marietta Materials, Inc, Vulcan Materials Company, 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 Afyon Cimento Sanayi TAS stock attractive at the current price?
The data as of Oct 29, 2026: price 10.80 TRY, calculated fair value 10.48 TRY (−3%), Quality Score 41/100, from 14 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 AFYON calculated?
We run Afyon Cimento Sanayi TAS through 14 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 10.48 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 13.4 % above its aggregate fair value. Afyon Cimento Sanayi TAS 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 Afyon Cimento Sanayi TAS (AFYON)?
The closing price on Oct 28, 2026 was 10.80 TRY. Our model-based fair value is 10.48 TRY, about −3% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Afyon Cimento Sanayi TAS right now?
The price sits above even our optimistic bull case (10.48 TRY). The favourable scenario is already priced in. The price sits close to our fair value, market and models broadly agree here, little valuation tension. The models converge in a tight band (9.85 TRY to 10.48 TRY), unusually little disagreement for a valuation. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Afyon Cimento Sanayi TAS
How large is the market capitalisation of Afyon Cimento Sanayi TAS (AFYON)?
The market capitalisation of Afyon Cimento Sanayi TAS is 4.3B TRY (≈ $86.7M). 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 Afyon Cimento Sanayi TAS (AFYON)?
The price-to-sales ratio of Afyon Cimento Sanayi TAS is 0.92 (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 Afyon Cimento Sanayi TAS (AFYON)?
Earnings per share at Afyon Cimento Sanayi TAS are 0.2800 TRY (price ÷ EPS = P/E 38.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Afyon Cimento Sanayi TAS (AFYON)?
The dividend yield of Afyon Cimento Sanayi TAS is 11.0%. 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 Afyon Cimento Sanayi TAS (AFYON)?
The net margin of Afyon Cimento Sanayi TAS is 2.5% (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 Afyon Cimento Sanayi TAS (AFYON)?
The return on equity (ROE) of Afyon Cimento Sanayi TAS is 1.5% (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 Afyon Cimento Sanayi TAS (AFYON)?
On an EBIT basis the return on assets of Afyon Cimento Sanayi TAS is 13.2% (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 Afyon Cimento Sanayi TAS (AFYON)?
The operating margin of Afyon Cimento Sanayi TAS is 23.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Afyon Cimento Sanayi TAS (AFYON)?
Revenue at Afyon Cimento Sanayi TAS is growing +34.8% versus a year earlier (3y avg +42.9%). 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 Afyon Cimento Sanayi TAS (AFYON)?
Earnings per share at Afyon Cimento Sanayi TAS are growing −47.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Afyon Cimento Sanayi TAS (AFYON) generate?
The free cash flow of Afyon Cimento Sanayi TAS is −44.2M 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 Afyon Cimento Sanayi TAS (AFYON) carry?
The net debt of Afyon Cimento Sanayi TAS is 76.6M TRY (fiscal year 2021). 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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Oct 29, 2026