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Borlease Otomotiv A.S. (BORLS) Fair Value & Analysis

Industrials · TR · Market cap 3.9B TRY

BO Borlease Otomotiv A.S. BORLS · IS
Price5.66 TRY
Fair Value16.77 TRY
Upside+196.3%
Quality19/100
Expensive Growth
Loss-making · -52.2% net margin
Negative equity (buybacks among others) · negative free cash flow
Trails peers (3/8)
Narrow moat 13/100
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Evidence: Low Range 9.16 TRY – 24.39 TRY Share as image

Fair value as of: Aug 5, 2026

From 1 valuation models · updated today

Share price −15.1% over the past month.

Below-average quality, screening 196% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (19/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (9.16 TRY). The market is more pessimistic than our downside scenario.
  • The model range is unusually wide (9.16 TRY to 24.39 TRY). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
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Price vs Fair Value (3 years)

30.28 TRY 2.62 TRY Fair Value 16.77 TRY Oct 2023 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

34‑month range 2.62 TRY – 30.28 TRY · fair‑value band 9.16 TRY – 24.39 TRY · the 5.66 TRY price screens below the 16.77 TRY fair value. Dashed = 300-day average. As of Aug 5, 2026.

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Analysis

Borlease Otomotiv A.S. (BORLS) currently trades at 5.66 TRY, while our model-based Fair Value estimate is 16.77 TRY, implying the stock looks roughly 196.3% undervalued today. We read business quality at 19/100 (below-average quality), in the Industrials 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: low), always confirm before acting.

Over the trailing twelve months, Borlease Otomotiv A.S. generated revenue of 6.5B TRY at a net margin of -52.2%. Revenue declined 27.7% year over year. Net debt stands at 9.5B TRY. Fundamentals as of Aug 5, 2026

Our scenario range runs from 9.16 TRY (bear case) to 24.39 TRY (bull case); at 5.66 TRY, the current price sits below that range. For context, the median of 10 Industrials peers we cover trades at -21% fair-value upside, at 196%, BORLS 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
EV/EBITDA 16.95 TRY 24.57 TRY 32.18 TRY 54
All 1 models by family
Multiples
EV/EBITDA 16.95 TRY 24.57 TRY 32.18 TRY 54

Key figures & financial health

Revenue (TTM) 6.5B TRY
Revenue growth (YoY) -27.7%
Net margin -52.2%
Return on equity -571%
Free cash flow −2.7B TRY FY2025
Operating margin 7.0%
More key figures
EPS (TTM) -5.57 TRY
Net debt 9.5B TRY FY2025

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

Quality Score breakdown

Overall quality 19/100

Of which business quality 25 · Market factors (momentum, volatility) 20

Profitability 10
Margins and returns on capital today
Quality Growth 0
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 0
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 87
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

Borlease Otomotiv A.S. offers car rental services in Turkey. It provides mobility services, such as short-term car rental, self-owned car management, fleet management program, telematics, implant, and fuel managements.

Full company description

Borlease Otomotiv A.S. offers car rental services in Turkey. It provides mobility services, such as short-term car rental, self-owned car management, fleet management program, telematics, implant, and fuel managements. The company also provides vehicle / driver support, including damage and accident, malfunction, tire, periodic maintenance, vehicle return, and driver support services. The company was incorporated in 2013 and is headquartered in Istanbul, Turkey.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Borlease Otomotiv A.S. reported revenue of 7.0B TRY in FY2025 versus 1.3B TRY in FY2021, a compound +52.3%/yr. Reported net income was −3.9B TRY in FY2025.

Growth Quality 32/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
7.0B TRY
Latest YoY
−22.3%
Avg. growth/yr (3Y)
+27.3%
Avg. growth/yr (5Y)
+59.1%
Revenue +52.3%/yr
FY21 1.3B TRY
FY22 3.4B TRY
FY23 4.6B TRY
FY24 9.0B TRY
FY25 7.0B TRY
Net income
FY21 46.0M TRY
FY22 912M TRY
FY23 734M TRY
FY24 −2.1B TRY
FY25 −3.9B TRY

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Cite: Fair Value Calculator (2026). "Borlease Otomotiv A.S. Fair Value". https://www.fairvalue-calculator.com/stock/BORLS

Peer Group

Rental & Leasing Services · 98 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 23 · Bottom 25%
Fair Value upside +196% · Top 25%
Return on assets -4% · Bottom 25%
Net margin (TTM) -52% · Bottom 25%
Operating margin (TTM) 7% · Below median
Revenue growth -28% · Bottom 25%

Valuation Multiples vs Rental & Leasing Services median · lower = cheaper

P/S (TTM) 0.01× · 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 53
FUTURE 0 · sector 18
PAST 0 · sector 26
HEALTH 100 · sector 69
DIVIDEND 0 · sector 32

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

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 Rental & Leasing Services stocks, each showing price versus our Fair Value estimate (as of Aug 5, 2026).

Stock Price Fair Value vs Fair Value
United Rentals, Inc URI $1,045 $449.86 -57%
Sunbelt Rentals Holdings SUNB $73.41 $65.76 -10%
AerCap Holdings AER $146.97 $301.51 +105%
U-Haul Holding UHAL $67.35 $7.21 -89%
Ryder System, Inc R $273.06 $111.57 -59%
Localiza Rent a Car S.A RENT3 R$40.35 R$37.01 -8%
Element Fleet Management Corp EFN C$29.83 C$15.06 -50%
BOC Aviation Limited 2588 HK$77.40 HK$18.61 -76%
GATX Corporation GATX $178.48 $140.90 -21%
Avis Budget Group CAR $156.35 $157.38 +1%

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Frequently asked questions

Is Borlease Otomotiv A.S. (BORLS) overvalued or undervalued?
As of Aug 5, 2026, our model estimates a fair value of 16.77 TRY versus a price of 5.66 TRY, about +196% (undervalued).
What is the fair value of BORLS?
Our model-based fair value for Borlease Otomotiv A.S. is 16.77 TRY (as of Aug 5, 2026), built from audited fundamentals. The current price is 5.66 TRY.
What is the quality score of BORLS?
Borlease Otomotiv A.S. has a Quality Score of 19/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Borlease Otomotiv A.S. (BORLS)?
Borlease Otomotiv A.S. reported trailing-twelve-month revenue of about 6.5B TRY (latest available figure, as of Aug 5, 2026).
What is the net profit margin of BORLS?
The net profit margin of Borlease Otomotiv A.S. is about -52.2%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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