Borusan Yatirim ve Pazarlama AS (BRYAT) fair value: what the stock is really worth
We calculate from audited financials what Borusan Yatirim ve Pazarlama AS 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.
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Price vs Fair Value
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
60‑month range 233.07 TRY – 3,984 TRY · fair‑value band 1,104 TRY – 2,008 TRY · the 1,570 TRY price screens above the 1,250 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.
Borusan Yatirim ve Pazarlama A.S., together with its subsidiaries, engage in the commercial and service sectors in Turkey.
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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.
Stock analysis
Borusan Yatirim ve Pazarlama AS (BRYAT) currently trades at 1,570 TRY, while our model-based Fair Value estimate is 1,250 TRY, implying the stock looks roughly 25.6% overvalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of 4,120 TRY per share, and 6 of the 9 models we run sit above the 1,570 TRY price.
Bear case: the Growth DCF group reads lowest at 418.41 TRY, and 3 of the 9 models stay below the price. Evidence for this calculation is medium.
Scenario range: 1,104 TRY (bear) to 2,008 TRY (bull), the price of 1,570 TRY sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 65/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Borusan Yatirim ve Pazarlama AS reported revenue of $89.7M in FY2025 versus $47.8M in FY2021, a compound +17.0%/yr. Reported net income was $4.6B in FY2025, compounding +102.7%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 43.2B TRY (≈ $886M) · P/E ratio 9.5 · EPS (TTM) 164.83 TRY · Net margin 2,301% · Return on equity 14.4% · Return on assets (EBIT) 2.7% · Operating margin 2,234% · Revenue (TTM) 186M TRY.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 43% below its 52-week high, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −26% fair-value upside, at −20%, BRYAT screens cheaper than that median.
Fair Value models
Bear 1,104 TRYFair Value 1,250 TRYBull 2,008 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 (118.45 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.
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
+12.9%
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.
−30.2%
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.
+21.0%
Revenue growth 10 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.
+17.5%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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 5 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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+94.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+94.9%
Dividend (yield on the price)0.0%
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.47% → 4,530%
2025 sits 128% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+64.5%
Yearly growth needed for the next five years to justify today's price.
Compare Borusan Yatirim ve Pazarlama AS with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Steel · 408 stocks
Beats the industry median on 6/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score64 · Top 25%
Fair Value upside+33% · Above median
Profitability
Return on equity (TTM)14% · Top 25%
Return on assets8% · Top 25%
Growth and dividend
Revenue growth108% · Top 25%
Dividend yield (TTM)0.0% · Bottom 25%
Valuation Multiplesvs Steel median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Borusan Yatirim ve Pazarlama AS Fair Value". https://www.fairvalue-calculator.com/stock/BRYAT
Frequently asked questions
Is Borusan Yatirim ve Pazarlama AS (BRYAT) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of 1,250 TRY versus a price of 1,570 TRY, about −20% upside (overvalued).
What is the fair value of BRYAT?
Our model-based fair value for Borusan Yatirim ve Pazarlama AS is 1,250 TRY (as of Sep 13, 2026), built from audited fundamentals. The current price: 1,570 TRY.
What is the quality score of BRYAT?
Borusan Yatirim ve Pazarlama AS has a Quality Score of 65/100. 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 Borusan Yatirim ve Pazarlama AS (BRYAT)?
Our model-based price target is the fair value of 1,250 TRY (as of Sep 13, 2026) from 9 valuation models. Cautious scenario 1,104 TRY, optimistic scenario 2,008 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Borusan Yatirim ve Pazarlama AS stock forecast for 2026?
Our models put fair value at 1,250 TRY, about −20% upside versus a price of 1,570 TRY (overvalued). Cautious scenario 1,104 TRY, optimistic scenario 2,008 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Borusan Yatirim ve Pazarlama AS (BRYAT)?
Borusan Yatirim ve Pazarlama AS reported trailing-twelve-month revenue of about 186M TRY (latest available figure, as of Sep 13, 2026).
What growth is priced into Borusan Yatirim ve Pazarlama AS (BRYAT)?
For today's price to be fair in a discounted-cash-flow model, Borusan Yatirim ve Pazarlama AS would have to grow free cash flow by +64.5 % per year for five years (discount rate 14.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +21.0 % per year. As of Sep 13, 2026.
What discount rate (WACC) does the fair value of BRYAT use?
Our models discount Borusan Yatirim ve Pazarlama AS at 14.2 %: a base by market capitalisation (small), damped by beta 0.34, country premium for Turkey. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Borusan Yatirim ve Pazarlama AS that is +64.5 % per year a year over ten years, using the same discount rate (14.2 %) and the same formula as our fair value.
How much growth has Borusan Yatirim ve Pazarlama AS (BRYAT) delivered so far?
Over the past 5 years revenue at Borusan Yatirim ve Pazarlama AS grew +21.0 % a year. The price currently implies +64.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Borusan Yatirim ve Pazarlama AS (BRYAT) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Borusan Yatirim ve Pazarlama AS (+64.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Borusan Yatirim ve Pazarlama AS (BRYAT)?
The free-cash-flow yield on the price is 0.60 %: that much free cash flow Borusan Yatirim ve Pazarlama AS produces per unit of market value. When it exceeds the discount rate of our models (14.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Borusan Yatirim ve Pazarlama AS (BRYAT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Borusan Yatirim ve Pazarlama AS it is 1,250 TRY per share (as of Sep 13, 2026), against a price of 1,570 TRY. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Borusan Yatirim ve Pazarlama AS stock overvalued or undervalued in 2026?
As of Sep 13, 2026, BRYAT trades above its calculated fair value: price 1,570 TRY, fair value 1,250 TRY, a gap of about −20% (overvalued). 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 BRYAT?
No. The price is what the market pays today (1,570 TRY); the fair value is what the company's own numbers justify (1,250 TRY). For Borusan Yatirim ve Pazarlama AS the two are 319.94 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Borusan Yatirim ve Pazarlama AS worth?
The market values Borusan Yatirim ve Pazarlama AS at about 43.2B TRY (market capitalisation, as of Sep 13, 2026). Per share that is 1,570 TRY; our models calculate a fair value of 1,250 TRY per share.
What do the bullish and bearish scenarios say about BRYAT?
Our models span a range for Borusan Yatirim ve Pazarlama AS: cautious scenario 1,104 TRY, base 1,250 TRY, optimistic 2,008 TRY per share (as of Sep 13, 2026, price 1,570 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BRYAT?
Borusan Yatirim ve Pazarlama AS trades at a price-to-earnings ratio of 9.5 (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 1,250 TRY is built from several models across several years. Other multiples: P/S 5.0.
How solid is the balance sheet of Borusan Yatirim ve Pazarlama AS (BRYAT)?
Balance-sheet figures for Borusan Yatirim ve Pazarlama AS (as of Sep 13, 2026): return on equity 14.4%. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is BRYAT from its 52-week high?
Borusan Yatirim ve Pazarlama AS trades at 1,570 TRY, about 43% below its 52-week high of 2,774 TRY (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of 1,250 TRY is for.
Which stocks are comparable to Borusan Yatirim ve Pazarlama AS?
From the same area (Basic Materials) we also value Nucor Corporation, ArcelorMittal S.A, Steel Dynamics, Inc, JSW Steel 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 Borusan Yatirim ve Pazarlama AS stock attractive at the current price?
The data as of Sep 13, 2026: price 1,570 TRY, calculated fair value 1,250 TRY (−20%), Quality Score 65/100, from 9 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 BRYAT calculated?
We run Borusan Yatirim ve Pazarlama AS through 9 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 1,250 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 15.8 % above its aggregate fair value. Borusan Yatirim ve Pazarlama AS itself currently trades above fair value. 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 Borusan Yatirim ve Pazarlama AS (BRYAT)?
The closing price on Sep 18, 2026 was 1,570 TRY. Our model-based fair value is 1,250 TRY, about −20% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Borusan Yatirim ve Pazarlama AS right now?
Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (1,104 TRY to 2,008 TRY) leaves room in how you read the outcome.
Key figures of Borusan Yatirim ve Pazarlama AS
How large is the market capitalisation of Borusan Yatirim ve Pazarlama AS (BRYAT)?
The market capitalisation of Borusan Yatirim ve Pazarlama AS is 43.2B TRY (≈ $886M). 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 are the earnings per share of Borusan Yatirim ve Pazarlama AS (BRYAT)?
Earnings per share at Borusan Yatirim ve Pazarlama AS are 164.83 TRY (price ÷ EPS = P/E 9.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Borusan Yatirim ve Pazarlama AS (BRYAT)?
The net margin of Borusan Yatirim ve Pazarlama AS is 2,301% (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 Borusan Yatirim ve Pazarlama AS (BRYAT)?
The return on equity (ROE) of Borusan Yatirim ve Pazarlama AS is 14.4% (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 Borusan Yatirim ve Pazarlama AS (BRYAT)?
On an EBIT basis the return on assets of Borusan Yatirim ve Pazarlama AS is 2.7% (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 Borusan Yatirim ve Pazarlama AS (BRYAT)?
The operating margin of Borusan Yatirim ve Pazarlama AS is 2,234% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Borusan Yatirim ve Pazarlama AS (BRYAT)?
Revenue at Borusan Yatirim ve Pazarlama AS is growing +108% versus a year earlier (3y avg −30.2%). 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 Borusan Yatirim ve Pazarlama AS (BRYAT)?
Earnings per share at Borusan Yatirim ve Pazarlama AS are growing −38.1% versus a year earlier. How much earnings per share grew versus a year earlier.
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