Akfen Gayrimenkul Yatirim Ortakligi A.S. (AKFGY) Fair Value & Analysis

Real Estate · TR · Market cap 10.7B TRY

What matters now

• The price is below even our cautious bear case (3.44 TRY). The market is more pessimistic than our downside scenario.
• Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.
• A fairly wide model range (3.44 TRY to 6.57 TRY) leaves room in how you read the outcome.
• As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Price vs Fair Value (12 months)

12‑month range 2.46 TRY – 3.12 TRY · fair‑value band 3.44 TRY – 6.57 TRY · the 2.77 TRY price screens below the 5.05 TRY fair value. As of Jul 31, 2026.

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

Analysis

Akfen Gayrimenkul Yatirim Ortakligi A.S. (AKFGY) currently trades at 2.77 TRY, while our model-based Fair Value estimate is 5.05 TRY, implying the stock looks roughly 82.3% undervalued today. We read business quality at 50/100 (solid quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Akfen Gayrimenkul Yatirim Ortakligi A.S. generated revenue of 1.8B TRY at a net margin of 99.0%. Revenue grew 41.4% year over year. It earns a return on equity of 5.7%. Net debt stands at 4.1B TRY. Fundamentals as of Jul 31, 2026

Our scenario range runs from 3.44 TRY (bear case) to 6.57 TRY (bull case); at 2.77 TRY, the current price sits below that range. The share trades about 13% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -33% fair-value upside, at 82%, AKFGY screens cheaper than that median.

Key figures & financial health

Quality Score breakdown

About the company

Akfen Gayrimenkul Yatirim Ortakligi A.S. was formed because of the name change and restructuring of Aksel Tourism Investments and Management Inc. (Aksel) into a real estate investment partnership. Aksel was initially established as a partnership between Hamdi Akin and Yüksel Insaat A.S. with the aim of investing in the domestic tourism sector.

Full company description

Akfen Gayrimenkul Yatirim Ortakligi A.S. was formed because of the name change and restructuring of Aksel Tourism Investments and Management Inc. (Aksel) into a real estate investment partnership. Aksel was initially established as a partnership between Hamdi Akin and Yüksel Insaat A.S. with the aim of investing in the domestic tourism sector. Subsequently, the shares of Yüksel Insaat A.S. were acquired by Akfen Holding A.S. (Akfen Holding) in 2006, and the Company became a subsidiary of Akfen Holding. The restructuring was finalized with the transformation of the Company into a (Real Estate Investment Trust) following the Board of Directors' decision dated April 25, 2006, and the Capital Markets Board's (CMB) decision numbered 31/894 dated July 14, 2006, which was registered on August 25, 2006. The adoption of the title (Real Estate Investment Trust) and the change in the scope of activity were published in the Trade Registry Gazette on August 31, 2006. On August 6, 2018, 1000 Class A and 1000 Class D preferred shares of Akfen GYO, owned by Akfen Holding, were transferred to Hamdi Akin, who is the indirect ultimate owner of management control of these shares. The company's main activity is investing in real estate-based capital market instruments, creating and developing a real estate portfolio, and engaging in the purposes and activities described in Articles 5, 23, and 25 of the Capital Markets Board's Communiqué on Principles Regarding Real Estate Investment Trusts (Series III, No: 48.1). In 2005, the company signed a framework agreement with ACCOR SA, one of the world's leading hotel chains, to develop hotel projects in Türkiye under the Novotel and Ibis Hotel brands. The company primarily develops Novotel and Ibis branded hotel projects and leases them to Tamaris Turizm A.S. (Tamaris), a wholly owned subsidiary of ACCOR SA operating in Türkiye. The company was listed on the Istanbul Stock Exchange (BIST) on May 11, 2011. Akfen Gayrimenkul Yatirim Ortakligi A.S. was established on June 25, 1997.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Akfen Gayrimenkul Yatirim Ortakligi A.S. reported revenue of 1.6B TRY in FY2025 versus 191M TRY in FY2021, a compound +71.2%/yr. Reported net income was 2.6B TRY in FY2025, compounding +5.8%/yr from FY2021.

Is AKFGY fairly valued? → Check now

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.

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.

Similar stocks

10 more REIT - Hotel & Motel stocks, each showing price versus our Fair Value estimate (as of Jul 31, 2026).

Explore undervalued stocks

More undervalued Real Estate stocks →

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.