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Asce Gayrimenkul Yatirim Ortakligi A.S. (ASGYO) fair value: what the stock is really worth

We calculate from audited financials what Asce Gayrimenkul Yatirim Ortakligi A.S. is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Real Estate · TR

AG Thin data Sep 13, 2026

Asce Gayrimenkul Yatirim Ortakligi A.S.

ASGYO · IS

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

Fair value 18.44 TRY · Strongly undervalued (+79%)
!Quality 47/100
!Weak Growth (revenue 5y +17.7 %/yr)
!Low debt · negative free cash flow
·1.63% dividend yield
Ranks above peers (6/10)
!Narrow moat 35/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

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Price vs Fair Value

27.15 TRY 9.89 TRY Fair Value 18.44 TRY Aug 2023 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.

How to read this chart

37‑month range 9.89 TRY – 27.15 TRY · the 10.31 TRY price screens below the 18.44 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 13, 2026.

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Company profile

Asce Gayrimenkul Yatirim Ortakligi A.S. engages in the construction business in Turkey. It develops and constructs housing projects. The company was incorporated in 2010 and is headquartered in Gaziantep, Turkey.

Stock analysis

Asce Gayrimenkul Yatirim Ortakligi A.S. (ASGYO) currently trades at 10.31 TRY, while our model-based Fair Value estimate is 18.44 TRY, implying the stock looks roughly 44.1% undervalued today.

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Valuation

Bull case: the Economic Profit group reads highest at a median of 21.11 TRY per share, and 3 of the 4 models we run sit above the 10.31 TRY price.

Bear case: the Multiples group reads lowest at 2.23 TRY, and 1 of the 4 models stay below the price. Evidence for this calculation is low.

Quality & growth

The Quality Score stands at 47/100 (below-average quality), in the Real Estate sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Asce Gayrimenkul Yatirim Ortakligi A.S. reported revenue of 226M TRY in FY2025 versus 43.3M TRY in FY2021, a compound +51.1%/yr. Reported net income was 650M TRY in FY2025, compounding +460.2%/yr from FY2021.

Key figures

Market cap 6.8B TRY (≈ $139M) · P/E ratio 1.2 · P/S ratio 3.44 · EPS (TTM) 8.63 TRY · Dividend yield 1.6% · Net margin 2,540% · Return on equity 27.0% · Return on assets (EBIT) −0.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).

What moves the price

The share trades about 27% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at −17% fair-value upside, at 79%, ASGYO screens cheaper than that median.

Fair Value models

Bear 18.44 TRY Fair Value 18.44 TRY Bull 18.44 TRY
Model Each model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (6.05 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. Evidence Evidence = 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.
Highest evidence
Residual Income 21.79 TRY 21.11 TRY 17.74 TRY 74
P/S Multiple 1.67 TRY 2.23 TRY 2.78 TRY 58
P/B Multiple 12.58 TRY 16.77 TRY 20.96 TRY 55
All 4 models by family
Multiples
P/S Multiple 1.67 TRY 2.23 TRY 2.78 TRY 58
P/B Multiple 12.58 TRY 16.77 TRY 20.96 TRY 55
Asset-Based
NCAV (Graham) 15.18 TRY 20.34 TRY 30.36 TRY 54
Economic Profit
Residual Income 21.79 TRY 21.11 TRY 17.74 TRY 74

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Quality Score breakdown

Overall quality 47/100

Of which business quality 47 · Market factors (momentum, volatility) 37

Profitability 31
Margins and returns on capital today
Quality Growth 88
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 72
Balance sheet, leverage, solvency risk
Investment 23
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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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. 40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+250.7%
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.
−3.3%
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.
+17.7%
What shareholders gained per year (last 3 years), in TRY 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 3 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. Measured in TRY: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−37.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−38.9%
Dividend (yield on the price)1.6%
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.17% → −32%

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Peer GroupHow 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.Real Estate - Development · 573 stocks

Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 48 · Above median
Fair Value upside −80% · Bottom 25%
Profitability
Return on equity (TTM) 27% · Top 25%
Return on assets 0% · Below median
Operating margin (TTM) −86% · Bottom 25%
Growth and dividend
Revenue growth −5% · Below median
Dividend yield (TTM) 1.6% · Below median

Valuation Multiplesvs Real Estate - Development median · lower = cheaper

P/E (TTM) 1.2× · Cheapest 25%
P/S (TTM) 0.65× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 52
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)100 · sector 11
HEALTH (low debt)100 · sector 85
DIVIDEND (yield)33 · sector 55

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 Real Estate - Development stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Sun Hung Kai Properties Limited 80016 HK$92.75 HK$98.84 +7%
CK Asset Holdings 1113 HK$46.18 HK$68.85 +49%
Hongkong Land Holdings H78 $8.42 $1.52 −82%
DLF Limited DLF ₹643.60 ₹170.24 −74%
China Overseas Land & Investment Limited 0688 HK$11.96 HK$22.15 +85%
Macrotech Developers Limited LODHA ₹1,113 ₹277.21 −75%
PT Pantai Indah Kapuk Dua Tbk, PANI 5,450 IDR 1,325 IDR −76%
Poly Developments and Holdings 600048 ¥5.04 ¥12.60 +150%
CTP N.V CTPNV €13.48 €11.18 −17%
China Merchants Shekou Industrial Zone Holdings 001979 ¥6.76 ¥4.23 −37%

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Cite: Fair Value Calculator (2026). "Asce Gayrimenkul Yatirim Ortakligi A.S. Fair Value". https://www.fairvalue-calculator.com/stock/ASGYO

Frequently asked questions

Is Asce Gayrimenkul Yatirim Ortakligi A.S. (ASGYO) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of 18.44 TRY versus a price of 10.31 TRY, about +79% upside (undervalued).
What is the fair value of ASGYO?
Our model-based fair value for Asce Gayrimenkul Yatirim Ortakligi A.S. is 18.44 TRY (as of Sep 13, 2026), built from audited fundamentals. The current price: 10.31 TRY.
What is the quality score of ASGYO?
Asce Gayrimenkul Yatirim Ortakligi A.S. has a Quality Score of 47/100. 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 Asce Gayrimenkul Yatirim Ortakligi A.S. (ASGYO)?
Our model-based price target is the fair value of 18.44 TRY (as of Sep 13, 2026) from 4 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the Asce Gayrimenkul Yatirim Ortakligi A.S. stock forecast for 2026?
Our models put fair value at 18.44 TRY, about +79% upside versus a price of 10.31 TRY (undervalued). The calculation is refreshed regularly with new filings.
What is the revenue of Asce Gayrimenkul Yatirim Ortakligi A.S. (ASGYO)?
Asce Gayrimenkul Yatirim Ortakligi A.S. reported trailing-twelve-month revenue of about 224M TRY (latest available figure, as of Sep 13, 2026).
Does Asce Gayrimenkul Yatirim Ortakligi A.S. pay a dividend?
Asce Gayrimenkul Yatirim Ortakligi A.S. currently shows a dividend yield of about 1.63% relative to its recent price (as of Sep 13, 2026).
What is the intrinsic value of Asce Gayrimenkul Yatirim Ortakligi A.S. (ASGYO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Asce Gayrimenkul Yatirim Ortakligi A.S. it is 18.44 TRY per share (as of Sep 13, 2026), against a price of 10.31 TRY. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Asce Gayrimenkul Yatirim Ortakligi A.S. stock overvalued or undervalued in 2026?
As of Sep 13, 2026, ASGYO trades below its calculated fair value: price 10.31 TRY, fair value 18.44 TRY, a gap of about +79% (undervalued). 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 ASGYO?
No. The price is what the market pays today (10.31 TRY); the fair value is what the company's own numbers justify (18.44 TRY). For Asce Gayrimenkul Yatirim Ortakligi A.S. the two are 8.13 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Asce Gayrimenkul Yatirim Ortakligi A.S. worth?
The market values Asce Gayrimenkul Yatirim Ortakligi A.S. at about 6.8B TRY (market capitalisation, as of Sep 13, 2026). Per share that is 10.31 TRY; our models calculate a fair value of 18.44 TRY per share.
What is the P/E ratio of ASGYO?
Asce Gayrimenkul Yatirim Ortakligi A.S. trades at a price-to-earnings ratio of 1.2 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 18.44 TRY is built from several models across several years. Other multiples: P/S 0.7.
How solid is the balance sheet of Asce Gayrimenkul Yatirim Ortakligi A.S. (ASGYO)?
Balance-sheet figures for Asce Gayrimenkul Yatirim Ortakligi A.S. (as of Sep 13, 2026): return on equity 27.0%. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is ASGYO from its 52-week high?
Asce Gayrimenkul Yatirim Ortakligi A.S. trades at 10.31 TRY, about 27% below its 52-week high of 14.03 TRY and 1% above the low of 10.18 TRY (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of 18.44 TRY is for.
Which stocks are comparable to Asce Gayrimenkul Yatirim Ortakligi A.S.?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, CK Asset Holdings, Hongkong Land Holdings, DLF Limited, 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 Asce Gayrimenkul Yatirim Ortakligi A.S. stock attractive at the current price?
The data as of Sep 13, 2026: price 10.31 TRY, calculated fair value 18.44 TRY (+79%), Quality Score 47/100, from 4 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 ASGYO calculated?
We run Asce Gayrimenkul Yatirim Ortakligi A.S. through 4 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 18.44 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 15.5 % above its aggregate fair value. Asce Gayrimenkul Yatirim Ortakligi A.S. currently trades 79 % below its own fair value, and the market average says nothing about that. 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 Asce Gayrimenkul Yatirim Ortakligi A.S. (ASGYO)?
The closing price on Sep 17, 2026 was 10.31 TRY. Our model-based fair value is 18.44 TRY, about +79% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Asce Gayrimenkul Yatirim Ortakligi A.S. right now?
The price is below even our cautious bear case (18.44 TRY). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (47/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Key figures of Asce Gayrimenkul Yatirim Ortakligi A.S.

How large is the market capitalisation of Asce Gayrimenkul Yatirim Ortakligi A.S. (ASGYO)?
The market capitalisation of Asce Gayrimenkul Yatirim Ortakligi A.S. is 6.8B TRY (≈ $139M). 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 Asce Gayrimenkul Yatirim Ortakligi A.S. (ASGYO)?
The price-to-sales ratio of Asce Gayrimenkul Yatirim Ortakligi A.S. is 3.44 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Asce Gayrimenkul Yatirim Ortakligi A.S. (ASGYO)?
Earnings per share at Asce Gayrimenkul Yatirim Ortakligi A.S. are 8.63 TRY (price ÷ EPS = P/E 1.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Asce Gayrimenkul Yatirim Ortakligi A.S. (ASGYO)?
The dividend yield of Asce Gayrimenkul Yatirim Ortakligi A.S. is 1.6% (payout 1.9%). 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 Asce Gayrimenkul Yatirim Ortakligi A.S. (ASGYO)?
The net margin of Asce Gayrimenkul Yatirim Ortakligi A.S. is 2,540% (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 Asce Gayrimenkul Yatirim Ortakligi A.S. (ASGYO)?
The return on equity (ROE) of Asce Gayrimenkul Yatirim Ortakligi A.S. is 27.0% (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 Asce Gayrimenkul Yatirim Ortakligi A.S. (ASGYO)?
On an EBIT basis the return on assets of Asce Gayrimenkul Yatirim Ortakligi A.S. is −0.2% (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 Asce Gayrimenkul Yatirim Ortakligi A.S. (ASGYO)?
The operating margin of Asce Gayrimenkul Yatirim Ortakligi A.S. is −86.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Asce Gayrimenkul Yatirim Ortakligi A.S. (ASGYO)?
Revenue at Asce Gayrimenkul Yatirim Ortakligi A.S. is growing −5.2% versus a year earlier (3y avg −3.3%). 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 Asce Gayrimenkul Yatirim Ortakligi A.S. (ASGYO)?
Earnings per share at Asce Gayrimenkul Yatirim Ortakligi A.S. are growing +501% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Asce Gayrimenkul Yatirim Ortakligi A.S. (ASGYO) generate?
The free cash flow of Asce Gayrimenkul Yatirim Ortakligi A.S. is −1.7B 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 Asce Gayrimenkul Yatirim Ortakligi A.S. (ASGYO) carry?
The net debt of Asce Gayrimenkul Yatirim Ortakligi A.S. is 234M TRY (fiscal year 2022). 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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