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Avrupa Yatirim Holding (AVHOL) Fair Value & Analysis

Financial Services · TR · Market cap 1.4B TRY

AY Avrupa Yatirim Holding AVHOL · IS
Price36.90 TRY
Fair Value73.80 TRY
Upside+100.0%
Quality43/100
Mixed Growth
Low debt · generates free cash flow
Mixed vs. peers (4/9)
Narrow moat 17/100
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Evidence: Medium Range 55.35 TRY – 92.25 TRY Share as image

Fair value as of: Aug 5, 2026

From 18 valuation models · updated today

Share price −5.4% over the past month.

Below-average quality, screening 100% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (55.35 TRY). The market is more pessimistic than our downside scenario.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

164.00 TRY 4.70 TRY Fair Value 73.80 TRY May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 5, 2026.

How to read this chart

60‑month range 4.70 TRY – 164.00 TRY · fair‑value band 55.35 TRY – 92.25 TRY · the 36.90 TRY price screens below the 73.80 TRY fair value. Dashed = 300-day average. As of Aug 5, 2026.

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Analysis

Avrupa Yatirim Holding (AVHOL) currently trades at 36.90 TRY, while our model-based Fair Value estimate is 73.80 TRY, implying the stock looks roughly 100.0% undervalued today. We read business quality at 43/100 (below-average quality), in the Financial Services 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: medium), always confirm before acting.

Trailing-twelve-month revenue stands at 374M TRY. Revenue declined 41.9% year over year. It earns a return on equity of -63.0%. Net debt stands at 187M TRY. Fundamentals as of Aug 5, 2026

Our scenario range runs from 55.35 TRY (bear case) to 92.25 TRY (bull case); at 36.90 TRY, the current price sits below that range. The share trades about 35% below its 52-week high and 9% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -51% fair-value upside, at 100%, AVHOL screens cheaper 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 79.07 TRY 136.68 TRY 227.20 TRY 80
Rev-Margin DCF 45.76 TRY 71.10 TRY 120.91 TRY 74
Growth-Adj P/E 275.98 TRY 394.26 TRY 512.54 TRY 68
All 18 models by family
DCF Models
FCF DCF 84.40 TRY 123.22 TRY 239.22 TRY 38
Owner Earnings 103.34 TRY 214.21 TRY 419.92 TRY 31
5Y Revenue Exit 42.05 TRY 62.04 TRY 103.01 TRY 39
5Y P/E Exit 117.63 TRY 269.27 TRY 476.93 TRY 38
10Y Revenue Exit 55.81 TRY 97.54 TRY 116.66 TRY 36
10Y P/E Exit 107.00 TRY 245.97 TRY 476.21 TRY 35
Earnings-Based
Graham-Dodd 59.45 TRY 414.56 TRY 581.77 TRY 54
Lynch FV 214.18 TRY 305.97 TRY 397.76 TRY 50
PEG = 1.0 214.18 TRY 305.97 TRY 397.76 TRY 46
Multiples
P/E Multiple 131.13 TRY 174.84 TRY 218.55 TRY 63
P/S Multiple 21.66 TRY 28.88 TRY 36.10 TRY 58
P/B Multiple 66.38 TRY 88.51 TRY 110.64 TRY 55
EV/Revenue 20.20 TRY 28.86 TRY 37.53 TRY 43
Asset-Based
NCAV (Graham) 14.75 TRY 19.77 TRY 29.50 TRY 50
Growth DCF
Growth DCF 79.07 TRY 136.68 TRY 227.20 TRY 80
Rev-Margin DCF 45.76 TRY 71.10 TRY 120.91 TRY 74
Economic Profit
Residual Income 52.23 TRY 72.02 TRY 435.36 TRY 61
Growth Earnings
Growth-Adj P/E 275.98 TRY 394.26 TRY 512.54 TRY 68

Widest divergence: Growth Earnings (394.26 TRY) versus Asset-Based (19.77 TRY). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 374M TRY
Revenue growth (YoY) -41.9%
Net margin -246%
Return on equity -63.0%
Free cash flow 231M TRY FY2025
Operating margin -7.1%
More key figures
EPS (TTM) -0.0900 TRY
EPS growth (YoY) +1,125%
Net debt 187M TRY FY2025

Figures from reported company fundamentals · as of Aug 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 43/100

Of which business quality 54 · Market factors (momentum, volatility) 36

Profitability 57
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 76
Earnings quality: real cash, not paper profit
Fin. Strength 45
Balance sheet, leverage, solvency risk
Investment 16
Disciplined investing over empire-building
Low Volatility 71
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 10
Distance to the 52-week high (market factor)
Net Issuance 82
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

Avrupa Yatirim Holding A.S. provides healthcare and telecommunication services in Turkey. The company operates, equips, rents, and leases private hospitals, medical centers, dialysis centers, medical analysis and x-ray laboratories, and other healthcare facilities.

Full company description

Avrupa Yatirim Holding A.S. provides healthcare and telecommunication services in Turkey. The company operates, equips, rents, and leases private hospitals, medical centers, dialysis centers, medical analysis and x-ray laboratories, and other healthcare facilities. It also owns, purchases, sells, transfers, and rentals communication facilities, including telephone, telex, and fax. The company was formerly known as Baysan Trafo Radyatorleri Sanayi ve Ticaret A.S. and changed its name to Avrupa Yatirim Holding A.S. in December 2014. The company was incorporated in 1998 and is based in Istanbul, Turkey.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Avrupa Yatirim Holding reported revenue of 430M TRY in FY2025 versus 39.5M TRY in FY2021, a compound +81.7%/yr. Reported net income was 326M TRY in FY2025, compounding +236.4%/yr from FY2021.

Growth Quality 84/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
430M TRY
Latest YoY
−45.3%
Avg. growth/yr (3Y)
+60.8%
Avg. growth/yr (5Y)
+96.2%
Avg. growth/yr (16Y)
+16.6%
Revenue +81.7%/yr
FY21 39.5M TRY
FY22 104M TRY
FY23 378M TRY
FY24 787M TRY
FY25 430M TRY
Net income +236.4%/yr
FY21 2.5M TRY
FY22 6.5M TRY
FY23 63.7M TRY
FY24 106M TRY
FY25 326M TRY

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Cite: Fair Value Calculator (2026). "Avrupa Yatirim Holding Fair Value". https://www.fairvalue-calculator.com/stock/AVHOL

Peer Group

Asset Management · 993 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 43 · Bottom 25%
Fair Value upside +100% · Top 25%
Return on assets -3% · Bottom 25%
Operating margin (TTM) -7% · Bottom 25%
Revenue growth -42% · Bottom 25%
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Asset Management median · lower = cheaper

P/S (TTM) 0.08× · Cheaper than 75% of peers
P/FCF 0.1× · 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 100 · sector 34
FUTURE 0 · sector 8
PAST 0 · sector 24
HEALTH 100 · sector 95
DIVIDEND 0 · sector 69

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 Asset Management stocks, each showing price versus our Fair Value estimate (as of Aug 5, 2026).

Stock Price Fair Value vs Fair Value
Fondul Proprietatea SA FP $0.0420 $0.0800 +90%
BlackRock, Inc BLK $1,036 $504.81 -51%
Blackstone Inc BX $124.56 $16.35 -87%
Investor AB INVEB kr 394.40 kr 788.80 +100%
Brookfield Corporation BN $41.21 $9.95 -76%
KKR & Co KKR $100.94 $44.88 -56%
AB Industrivärden INDUA kr 532.50 kr 1,065 +100%
Jio Financial Services Limited JIOFIN ₹242.98 ₹40.19 -83%
Bajaj Holdings BAJAJHLDNG ₹10,398 ₹9,202 -12%
HDFC Asset Management Company HDFCAMC ₹2,729 ₹301.41 -89%

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Frequently asked questions

Is Avrupa Yatirim Holding (AVHOL) overvalued or undervalued?
As of Aug 5, 2026, our model estimates a fair value of 73.80 TRY versus a price of 36.90 TRY, about +100% (undervalued).
What is the fair value of AVHOL?
Our model-based fair value for Avrupa Yatirim Holding is 73.80 TRY (as of Aug 5, 2026), built from audited fundamentals. The current price is 36.90 TRY.
What is the quality score of AVHOL?
Avrupa Yatirim Holding has a Quality Score of 43/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Avrupa Yatirim Holding (AVHOL)?
Avrupa Yatirim Holding reported trailing-twelve-month revenue of about 374M TRY (latest available figure, as of Aug 5, 2026).

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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