Borusan Birlesik Boru Fabrikalari Sanayi ve Ticaret A.S. (BRSAN) Fair Value & Analysis
Basic Materials · TR · Market cap 78.3B TRY
Fair value as of: Aug 5, 2026
From 26 valuation models · updated today
Share price −2.6% over the past month.
A solid business, but screening 72% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (190.61 TRY). The favourable scenario is already priced in.
- Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
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 22.14 TRY – 993.40 TRY · fair‑value band 152.96 TRY – 190.61 TRY · the 552.50 TRY price screens above the 152.96 TRY fair value. Dashed = 300-day average. As of Aug 5, 2026.
Analysis
Borusan Birlesik Boru Fabrikalari Sanayi ve Ticaret A.S. (BRSAN) currently trades at 552.50 TRY, while our model-based Fair Value estimate is 152.96 TRY, implying the stock looks roughly 72.3% overvalued today. We read business quality at 52/100 (solid quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Borusan Birlesik Boru Fabrikalari Sanayi ve Ticaret A.S. generated revenue of 78.3B TRY at a net margin of 2.3%. Revenue grew 59.2% year over year. It earns a return on equity of 5.1%. Net debt stands at 6.9B TRY. Fundamentals as of Aug 5, 2026
Our scenario range runs from 152.96 TRY (bear case) to 190.61 TRY (bull case); at 552.50 TRY, the current price sits above that range. The share trades about 30% below its 52-week high and 53% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -25% fair-value upside, at -72%, BRSAN screens richer 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.
All 26 models by family
Widest divergence: DCF Models (777.35 TRY) versus Dividend Discount (15.86 TRY). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 5, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 54
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
Borusan Birlesik Boru Fabrikalari Sanayi ve Ticaret A.S. manufactures, produces, and sells steel pipes in Turkey. It offers spiral (helical) welded pipes, HSAW, SAWL and ERW line pipes, natural gas pipes, fire installation, special shaped, boiler tubes, industrial pipes and profiles, water pipes, construction pipes and profiles, SRM installation pipes, …
Full company description
Borusan Birlesik Boru Fabrikalari Sanayi ve Ticaret A.S. manufactures, produces, and sells steel pipes in Turkey. It offers spiral (helical) welded pipes, HSAW, SAWL and ERW line pipes, natural gas pipes, fire installation, special shaped, boiler tubes, industrial pipes and profiles, water pipes, construction pipes and profiles, SRM installation pipes, hydraulic cylinder tubes, cold drawn pipes, advanced processed pipes, precision pipes and profiles, and OCTG pipes. The company also exports its products. It serves water, construction, industrial, automotive, and energy applications. The company was formerly known as Borusan Mannesmann Boru Sanayi ve Ticaret A.S. and changed its name to Borusan Birlesik Boru Fabrikalari Sanayi ve Ticaret A.S. in November 2023. The company was incorporated in 1958 and is headquartered in Istanbul, Turkey. Borusan Birlesik Boru Fabrikalari Sanayi ve Ticaret A.S. is a subsidiary of BMB Holding A.S.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Borusan Birlesik Boru Fabrikalari Sanayi ve Ticaret A.S. reported revenue of $71.5B in FY2025 versus $7.3B in FY2021, a compound +76.7%/yr. Reported net income was $1.3B in FY2025, compounding +91.6%/yr from FY2021.
BRSAN screens 72% overvalued. Compare with JSW Steel Limited →
Peer Group
Steel · 383 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.
Valuation Multiples vs Steel median · lower = cheaper
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 0: the price sits above our fair-value range.
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 Steel stocks, each showing price versus our Fair Value estimate (as of Aug 5, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| JSW Steel Limited JSWSTEEL | ₹1,227 | ₹1,140 | -7% |
| Tata Steel Limited TATASTEEL | ₹185.26 | ₹147.13 | -21% |
| Baoshan Iron & Steel Co 600019 | ¥5.89 | ¥8.07 | +37% |
| China Steel Corporation 2002A | 38.55 TWD | 8.74 TWD | -77% |
| POSCO Holdings 005490 | 313,500 KRW | 155,270 KRW | -50% |
| Companhia Siderúrgica Nacional, SID | 13,670 ARS | 15,940 ARS | +17% |
| Jindal Steel Limited JINDALSTEL | ₹1,028 | ₹545.12 | -47% |
| Lloyds Metals and Energy Limited LLOYDSME | ₹1,844 | ₹1,098 | -40% |
| SSAB AB SSABA | kr 96.04 | kr 72.43 | -25% |
| Gerdau S.A GGBN | 83.50 MXN | 42.64 MXN | -49% |
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Frequently asked questions
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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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