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Borusan Yatirim ve Pazarlama A.S., (BRYAT) Fair Value & Analysis

Basic Materials · TR · Market cap 47.6B TRY

BY Borusan Yatirim ve Pazarlama A.S., BRYAT · IS
Price1,730 TRY
Fair Value2,191 TRY
Upside+26.6%
Quality56/100
Mixed Growth
generates free cash flow
Ranks above peers (7/10)
Wide moat 73/100
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Evidence: High Range 1,252 TRY – 2,738 TRY Share as image

Fair value as of: Aug 5, 2026

From 19 valuation models · updated today

Share price −9.4% over the past month.

A solid business, screening 27% undervalued on our models.

What matters now

  • Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (1,252 TRY to 2,738 TRY) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

3,984 TRY 233.07 TRY Fair Value 2,191 TRY Apr 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 233.07 TRY – 3,984 TRY · fair‑value band 1,252 TRY – 2,738 TRY · the 1,730 TRY price screens below the 2,191 TRY fair value. Dashed = 300-day average. As of Aug 5, 2026.

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Analysis

Borusan Yatirim ve Pazarlama A.S., (BRYAT) currently trades at 1,730 TRY, while our model-based Fair Value estimate is 2,191 TRY, implying the stock looks roughly 26.6% undervalued today. We read business quality at 56/100 (solid quality), in the Basic Materials 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: high), always confirm before acting.

Trailing-twelve-month revenue stands at 186M TRY. Revenue grew 107.9% year over year. It earns a return on equity of 14.2%. The stock trades on a trailing P/E of 10.5. Fundamentals as of Aug 5, 2026

Our scenario range runs from 1,252 TRY (bear case) to 2,738 TRY (bull case); at 1,730 TRY, the current price sits within that range. The share trades about 38% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -25% fair-value upside, at 27%, BRYAT 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
Residual Income 1,217 TRY 1,514 TRY 3,640 TRY 76
Growth DCF 290.88 TRY 418.41 TRY 676.17 TRY 72
Growth-Adj P/E 3,655 TRY 5,221 TRY 6,788 TRY 68
All 19 models by family
DCF Models
FCF DCF 300.25 TRY 390.66 TRY 678.54 TRY 38
5Y Revenue Exit 190.15 TRY 202.78 TRY 226.87 TRY 39
5Y P/E Exit 2,080 TRY 5,027 TRY 9,118 TRY 38
10Y Revenue Exit 222.22 TRY 264.63 TRY 277.84 TRY 36
10Y P/E Exit 1,596 TRY 4,276 TRY 9,136 TRY 35
Earnings-Based
Graham-Dodd 1,146 TRY 7,992 TRY 11,215 TRY 54
Lynch FV 2,884 TRY 4,120 TRY 5,356 TRY 50
PEG = 1.0 2,884 TRY 4,120 TRY 5,356 TRY 46
EPV 1,407 TRY 1,618 TRY 1,802 TRY 59
Multiples
P/E Multiple 2,528 TRY 3,370 TRY 4,213 TRY 63
P/S Multiple 6.11 TRY 8.14 TRY 10.18 TRY 58
P/B Multiple 2,149 TRY 2,865 TRY 3,581 TRY 55
EV/EBIT 2,134 TRY 2,798 TRY 3,462 TRY 53
EV/Revenue 148.32 TRY 150.76 TRY 153.20 TRY 43
Asset-Based
NCAV (Graham) 635.94 TRY 852.16 TRY 1,272 TRY 50
Growth DCF
Growth DCF 290.88 TRY 418.41 TRY 676.17 TRY 72
Economic Profit
Residual Income 1,217 TRY 1,514 TRY 3,640 TRY 76
ROIC Compounder 1,555 TRY 2,127 TRY 2,651 TRY 67
Growth Earnings
Growth-Adj P/E 3,655 TRY 5,221 TRY 6,788 TRY 68

Widest divergence: Growth Earnings (5,221 TRY) versus DCF Models (390.66 TRY). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 186M TRY
Revenue growth (YoY) +108%
Net margin 2,386%
Return on equity 14.2%
Free cash flow 258M TRY FY2025
P/E ratio 10.5
More key figures
Operating margin 67.2%
EPS (TTM) 165.02 TRY
EPS growth (YoY) -54.3%

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

Quality Score breakdown

Overall quality 56/100

Of which business quality 65 · Market factors (momentum, volatility) 32

Profitability 45
Margins and returns on capital today
Quality Growth 62
Are margins and returns improving?
Cashflow 75
Earnings quality: real cash, not paper profit
Fin. Strength 84
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 12
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

Borusan Yatirim ve Pazarlama A.S., together with its subsidiaries, engage in the commercial and service sectors in Turkey.

Full company description

Borusan Yatirim ve Pazarlama A.S., together with its subsidiaries, engage in the commercial and service sectors in Turkey. The company is also involved in the production of pipe and cold rolled steel coil, as well as engine valves for various types of internal combustion engines; and operates in the construction, resource, energy and transportation industries, as well as automobile and motorcycle segments. In addition, it provides solutions for investment, financing, organization, and management. Borusan Yatirim ve Pazarlama A.S. was incorporated in 1977 and is headquartered in Istanbul, Turkey.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Borusan Yatirim ve Pazarlama A.S., reported revenue of 89.7M TRL in FY2025 versus 47.8M TRL in FY2021, a compound +17.0%/yr. Reported net income was 4.6B TRL in FY2025, compounding +102.7%/yr from FY2021.

Growth Quality 76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
89.7M TRY
Latest YoY
+12.9%
Avg. growth/yr (3Y)
−30.2%
Avg. growth/yr (5Y)
+21.0%
Avg. growth/yr (10Y)
+17.5%
Revenue +17.0%/yr
FY21 47.8M TRL
FY22 264M TRL
FY23 166M TRL
FY24 79.5M TRL
FY25 89.7M TRL
Net income +102.7%/yr
FY21 275M TRL
FY22 1.2B TRL
FY23 2.3B TRL
FY24 2.0B TRL
FY25 4.6B TRL

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Cite: Fair Value Calculator (2026). "Borusan Yatirim ve Pazarlama A.S., Fair Value". https://www.fairvalue-calculator.com/stock/BRYAT

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.

Quality Score 56 · Top 25%
Fair Value upside +27% · Above median
Return on equity (TTM) 14% · Top 25%
Return on assets 8% · Top 25%
Operating margin (TTM) 67% · Top 25%
Revenue growth 108% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Steel median · lower = cheaper

P/E (TTM) 10.5× · Cheaper than 75% of peers
P/S (TTM) 5.37× · Pricier than 75% of peers
P/FCF 3.9× · Pricier 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 69 · sector 24
FUTURE 100 · sector 2
PAST 57 · sector 14
HEALTH 0 · sector 95
DIVIDEND 0 · sector 41

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 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

Is Borusan Yatirim ve Pazarlama A.S., (BRYAT) overvalued or undervalued?
As of Aug 5, 2026, our model estimates a fair value of 2,191 TRY versus a price of 1,730 TRY, about +27% (undervalued).
What is the fair value of BRYAT?
Our model-based fair value for Borusan Yatirim ve Pazarlama A.S., is 2,191 TRY (as of Aug 5, 2026), built from audited fundamentals. The current price is 1,730 TRY.
What is the quality score of BRYAT?
Borusan Yatirim ve Pazarlama A.S., has a Quality Score of 56/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Borusan Yatirim ve Pazarlama A.S., (BRYAT)?
Borusan Yatirim ve Pazarlama A.S., reported trailing-twelve-month revenue of about 186M 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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