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Alarko Holding AS (ALARK) fair value: what the stock is really worth

As of Oct 28, 2026: fair value (intrinsic value) of Alarko Holding AS stock TRY 22.53, price TRY 94.30, upside -76.1%, quality 26 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value 30%+ above price?No
  2. Quality 50+?No
  3. In an uptrend?Yes
  4. Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with one Yes, for free

Industrials TR · ISIN TRAALARK91Q0

AH Alarko Holding AS logo Thin data Oct 26, 2026

Alarko Holding AS

ALARK · IS

Weakest SetupStrongly overvalued and low quality.

Our calculation puts a fair price 76% below what the stock costs today.

Highly profitable · 75.7% net margin (TTM)
Low debt
Mixed Growth (revenue 5y +53.1 %/yr in TRY)
3.4% dividend yield · Watch coverage
Mixed vs. peers (7/12)
Fair value 22.53 TRY · Strongly overvalued (−76.1%)
Quality 26/100
Negative free cash flow
Narrow moat 31/100 · thin data
Thin data
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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

134.21 TRY 7.40 TRY Fair Value 22.53 TRY Aug 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year. As of Oct 26, 2026.

How to read this chart

60‑month range 7.40 TRY – 134.21 TRY · fair‑value band 17.87 TRY – 26.15 TRY · the 94.30 TRY price screens above the 22.53 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 26, 2026.

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Company profile

Alarko Holding A.S., together with its subsidiaries, engages in contracting, energy, industry and trade, tourism, land development, investment, and agriculture businesses in Turkey.

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The company undertakes in the construction of refineries, chemical, petrochemical plants, power, industrial, and water and wastewater treatment plants, as well as pipelines, transportation, and housing projects.

It also produces, distributes, sells, and trades energy; manufactures heating, ventilating, and air conditioning, as well as sells heating, RLC products, and provides marketing, repair, and maintenance services.

In addition, the company operates hotels, sports center, spa centers, and movie theatres; residential land development activities; invest in public and private companies; and venture capital activities. Further, it is involved in greenhouse, fertilizer, seed, and food industry activities.

The company was founded in 1954 and is based in Istanbul, Turkey.

Stock analysis

Alarko Holding AS (ALARK) currently trades at 94.30 TRY, while our model-based Fair Value estimate is 22.53 TRY, 76.1% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 3 models at a data quality of 87/100, which puts the data coverage at low.

Scenario range: 17.87 TRY (bear) to 26.15 TRY (bull), the price of 94.30 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 26/100 (below-average quality), in the Industrials sector.

Mixed Growth: Spin-off in 2020: revenue and profit before it include the divested business. Growth is measured afresh from 2020.

Alarko Holding AS reported revenue of 8.7B TRL in FY2025 versus 2.0B TRL in FY2021, a compound +44.0%/yr. Reported net income was −1.2B TRL in FY2025.

Key figures

Market cap 41.0B TRY (≈ $822M) Small · P/E ratio 5.3 · P/S ratio 4.33 · EPS (TTM) 17.64 TRY · Dividend yield 3.4% · Net margin 75.7% · Return on equity 8.1% · Return on assets (EBIT) −1.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 31 out of 100 (low confidence).

What moves the price

The share trades about 20% below its 52-week high and 22% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 11% fair-value upside, at −76%, ALARK screens richer than that median.

Fair Value models

Bear 17.87 TRY Fair Value 22.53 TRY Bull 26.15 TRY
Price 94.30 TRY · Upside -76.1%
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 (11.96 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.
Best data coverage
NCAV (Graham) 86.44 TRY 115.83 TRY 172.88 TRY 54
All 1 models by family
Asset-Based
NCAV (Graham) 86.44 TRY 115.83 TRY 172.88 TRY 54

Open the full fair value analysis →

Quality Score breakdown

Overall quality 26/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 6
How much profit the company makes from its sales and capital
Quality Growth 21
Are margins and returns getting better?
Cashflow 10
Do the profits arrive as real cash?
Financial strength 50
Debt, balance sheet and risk of trouble
Investment 0
Does it invest with discipline instead of growing at any price?
Low Volatility 78
How calm the share price moves, does not count
Momentum 47
Price trend of the last 3 to 12 months, does not count
Near the 52-week high 46
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

Open the full quality analysis →

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. 55/100
Spin-off in 2020: revenue and profit before it include the divested business. Growth is measured afresh from 2020.
Revenue growth 1 year
−12.8%
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.
+6.8%
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.
+53.1%
Start year 2020 (pandemic)
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.
24.4% (2020) → −27.6% (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

ALARK screens overvalued: fair value 76% below the price. Compare with 3M Company →

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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.Conglomerates · 361 stocks

Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 26 · Bottom 25%
Fair Value upside −76.1% · Bottom 25%
Profitability
Return on equity (12 months) 8.1% · Above median
Return on assets −1.0% · Bottom 25%
Net margin (12 months) 75.7% · Top 25%
Operating margin (12 months) −17.7% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 10.8% · Above median
Dividend yield (12 months) 3.4% · Above median
Balance sheet
Debt / equity 0.17× · Below median

Valuation Multiplesvs Conglomerates median · lower = cheaper

P/E (12 months) 5.3× · Cheapest 25%
P/B 0.55× · Cheaper than median
P/S (12 months) 4.33× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 46
FUTURE (revenue growth)54 · sector 34
PAST (return on equity)33 · sector 22
HEALTH (low debt)91 · sector 90
DIVIDEND (yield)68 · sector 45

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 Conglomerates stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
CK Hutchison Holdings 0001 HK$66.35 HK$132.70 +100% vs ALARK
SGH Limited SGH A$39.50 A$56.23 +42% vs ALARK
Jardine Matheson Holdings J36 $59.82 $78.52 +31% vs ALARK
Honeywell International Inc HON $218.81 $245.42 +12% vs ALARK
Kingdom Holding 4280 12.04 SAR 13.40 SAR +11% vs ALARK
SK Inc 034730 497,500 KRW 351,325 KRW −29% vs ALARK
3M Company MMM $171.58 $73.02 −57% vs ALARK
Keppel Ltd BN4 10.09 SGD 3.87 SGD −62% vs ALARK
Swire Pacific Limited 0019 HK$106.90 HK$27.75 −74% vs ALARK
Doosan Corporation 000150 1,013,000 KRW 112,649 KRW −89% vs ALARK

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Alarko Holding AS · Fair Value
22.53 TRY −76%Fair Value
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Cite: Fair Value Calculator (2026). "Alarko Holding AS Fair Value". https://www.fairvalue-calculator.com/stock/ALARK

Frequently asked questions

Is Alarko Holding AS (ALARK) overvalued or undervalued?
As of Oct 26, 2026, our model estimates a fair value of 22.53 TRY versus a price of 94.30 TRY, about −76% upside (overvalued).
What is the fair value of ALARK?
Our model-based fair value for Alarko Holding AS is 22.53 TRY (as of Oct 26, 2026), built from audited fundamentals. The current price: 94.30 TRY.
What is the quality score of ALARK?
Alarko Holding AS has a Quality Score of 26/100. 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 Alarko Holding AS (ALARK)?
Our model-based price target is the fair value of 22.53 TRY (as of Oct 26, 2026) from 1 valuation models. Cautious scenario 17.87 TRY, optimistic scenario 26.15 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Alarko Holding AS stock forecast for 2026?
Our models put fair value at 22.53 TRY, about −76% upside versus a price of 94.30 TRY (overvalued). Cautious scenario 17.87 TRY, optimistic scenario 26.15 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Alarko Holding AS (ALARK)?
Alarko Holding AS reported trailing-twelve-month revenue of about 9.5B TRY (latest available figure, as of Oct 26, 2026).
Does Alarko Holding AS pay a dividend?
Alarko Holding AS currently shows a dividend yield of 3.38% relative to its recent price (as of Oct 26, 2026).
What is the intrinsic value of Alarko Holding AS (ALARK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Alarko Holding AS it is 22.53 TRY per share (as of Oct 26, 2026), against a price of 94.30 TRY. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Alarko Holding AS stock overvalued or undervalued in 2026?
As of Oct 26, 2026, ALARK trades above its calculated fair value: price 94.30 TRY, fair value 22.53 TRY, a gap of about −76% (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 ALARK?
No. The price is what the market pays today (94.30 TRY); the fair value is what the company's own numbers justify (22.53 TRY). For Alarko Holding AS the two are 71.77 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Alarko Holding AS worth?
The market values Alarko Holding AS at about 41.0B TRY (market capitalisation, as of Oct 26, 2026). Per share that is 94.30 TRY; our models calculate a fair value of 22.53 TRY per share.
What do the bullish and bearish scenarios say about ALARK?
Our models span a range for Alarko Holding AS: cautious scenario 17.87 TRY, base 22.53 TRY, optimistic 26.15 TRY per share (as of Oct 26, 2026, price 94.30 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ALARK?
Alarko Holding AS trades at a price-to-earnings ratio of 5.3 (as of Oct 26, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 22.53 TRY is built from several models across several years. Other multiples: P/B 0.6, P/S 4.3.
How solid is the balance sheet of Alarko Holding AS (ALARK)?
Balance-sheet figures for Alarko Holding AS (as of Oct 26, 2026): return on equity 8.1%, debt of 0.17 per unit of equity. They feed the Quality Score of 26/100, which measures business quality independently of the share price.
How far is ALARK from its 52-week high?
Alarko Holding AS trades at 94.30 TRY, about 20% below its 52-week high of 117.40 TRY and 22% above the low of 77.47 TRY (as of Oct 28, 2026). Distance from the high says nothing about value: that is what the fair value of 22.53 TRY is for.
Which stocks are comparable to Alarko Holding AS?
From the same area (Industrials) we also value 3M Company, Honeywell International Inc, Swire Pacific Limited, CK Hutchison Holdings, 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 Alarko Holding AS stock attractive at the current price?
The data as of Oct 26, 2026: price 94.30 TRY, calculated fair value 22.53 TRY (−76%), Quality Score 26/100, 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 ALARK calculated?
We run Alarko Holding 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 22.53 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. Alarko Holding 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 Alarko Holding AS (ALARK)?
The closing price on Oct 28, 2026 was 94.30 TRY. Our model-based fair value is 22.53 TRY, about −76% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Alarko Holding AS right now?
The price sits above even our optimistic bull case (26.15 TRY). The favourable scenario is already priced in. Weak quality (26/100) 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.

Key figures of Alarko Holding AS

How large is the market capitalisation of Alarko Holding AS (ALARK)?
The market capitalisation of Alarko Holding AS is 41.0B TRY (≈ $822M). 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 Alarko Holding AS (ALARK)?
The price-to-sales ratio of Alarko Holding AS is 4.33 (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 Alarko Holding AS (ALARK)?
Earnings per share at Alarko Holding AS are 17.64 TRY (price ÷ EPS = P/E 5.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Alarko Holding AS (ALARK)?
The dividend yield of Alarko Holding AS is 3.4% (payout 18.1%). 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 Alarko Holding AS (ALARK)?
The net margin of Alarko Holding AS is 75.7% (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 Alarko Holding AS (ALARK)?
The return on equity (ROE) of Alarko Holding AS is 8.1% (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 Alarko Holding AS (ALARK)?
On an EBIT basis the return on assets of Alarko Holding AS is −1.0% (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 Alarko Holding AS (ALARK)?
The operating margin of Alarko Holding AS is −17.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Alarko Holding AS (ALARK)?
Revenue at Alarko Holding AS is growing +10.8% versus a year earlier (3y avg +6.8%). 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 Alarko Holding AS (ALARK)?
Earnings per share at Alarko Holding AS are growing +79.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Alarko Holding AS (ALARK) generate?
The free cash flow of Alarko Holding AS is −15.0B 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 Alarko Holding AS (ALARK) carry?
The net debt of Alarko Holding AS is 20.0B 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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