Coca-Cola Icecek AS (CCOLA) fair value: what the stock is really worth
We calculate from audited financials what Coca-Cola Icecek 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 19, 2026.
How to read this chart
60‑month range 6.47 TRY – 92.35 TRY · fair‑value band 58.73 TRY – 155.65 TRY · the 80.00 TRY price screens below the 105.62 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 19, 2026.
Coca-Cola Içecek Anonim Sirketi, together with its subsidiaries, engages in the production, sale, and distribution of sparkling and still beverages in Turkey, Pakistan, Bangladesh, Central Asia, and the Middle East. It provides soft drinks, fruit juice, iced teas, water and sparkling water, sports and energy drinks, and coffee.
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Coca-Cola Içecek Anonim Sirketi, together with its subsidiaries, engages in the production, sale, and distribution of sparkling and still beverages in Turkey, Pakistan, Bangladesh, Central Asia, and the Middle East. It provides soft drinks, fruit juice, iced teas, water and sparkling water, sports and energy drinks, and coffee. The company sells its products under the Coca-Cola, Coca-Cola Zero Sugar, Coca-Cola Light, Diet Coke, Fanta, Sprite, Sprite Zero Sugar, Crush, Crystal Cola, Schweppes, Fusetea, Cappy, Piko, Damla, Damla Minera, Bon Aqua, Al Waha, Arwa, Dasani, Dasani Minera, Kinley, Kinley Soda, Power Ade, Monster Energy, Burn, Roar, Predator Energy, and Costa Coffee brands. Coca-Cola Içecek Anonim Sirketi was founded in 1964 and is headquartered in Istanbul, Turkey.
Stock analysis
Coca-Cola Icecek AS (CCOLA) currently trades at 80.00 TRY, while our model-based Fair Value estimate is 105.62 TRY, implying the stock looks roughly 24.3% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 214.07 TRY per share, and 22 of the 24 models we run sit above the 80.00 TRY price.
Bear case: the Asset-Based group reads lowest at 18.16 TRY, and 2 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: 58.73 TRY (bear) to 155.65 TRY (bull), the price of 80.00 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 46/100 (below-average quality), in the Consumer Defensive sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Coca-Cola Icecek AS reported revenue of 187B TRY in FY2025 versus 21.9B TRY in FY2021, a compound +70.9%/yr. Reported net income was 14.1B TRY in FY2025, compounding +57.8%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 246B TRY (≈ $5.0B) · P/E ratio 12.7 · P/S ratio 0.95 · EPS (TTM) 6.30 TRY · Dividend yield 1.8% · Net margin 7.5% · Return on equity 22.0% · Return on assets (EBIT) 14.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (medium confidence).
What moves the price
The share trades about 14% below its 52-week high and 80% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −5% fair-value upside, at 32%, CCOLA screens cheaper than that median.
Fair Value models
Bear 58.73 TRYFair Value 105.62 TRYBull 155.65 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 (3.51 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.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+3.9%
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.
+51.8%
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.
+67.0%
Revenue growth 22 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.
+27.3%
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What shareholders gained per year (last 5 years), in TRY ⓘ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. Measured in TRY: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+2.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.7%
Dividend (yield on the price)1.8%
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.15% → 13%
Growth Forecast
Little optimism in the price
The price assumes less 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).
+14.8%
Yearly growth needed for the next five years to justify today's price.
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.Beverages - Non-Alcoholic · 88 stocks
Beats the industry median on 11/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score46 · Bottom 25%
Fair Value upside+34% · Top 25%
Profitability
Return on equity (TTM)22% · Top 25%
Return on assets9% · Above median
Net margin (TTM)9% · Above median
Operating margin (TTM)13% · Above median
Growth and dividend
Revenue growth11% · Above median
Dividend yield (TTM)1.8% · Below median
Balance sheet
Debt / equity0.42× · Highest 25%
Valuation Multiplesvs Beverages - Non-Alcoholic 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). "Coca-Cola Icecek AS Fair Value". https://www.fairvalue-calculator.com/stock/CCOLA
Frequently asked questions
Is Coca-Cola Icecek AS (CCOLA) overvalued or undervalued?
As of Sep 19, 2026, our model estimates a fair value of 105.62 TRY versus a price of 80.00 TRY, about +32% upside (undervalued).
What is the fair value of CCOLA?
Our model-based fair value for Coca-Cola Icecek AS is 105.62 TRY (as of Sep 19, 2026), built from audited fundamentals. The current price: 80.00 TRY.
What is the quality score of CCOLA?
Coca-Cola Icecek AS has a Quality Score of 46/100. 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 Coca-Cola Icecek AS (CCOLA)?
Our model-based price target is the fair value of 105.62 TRY (as of Sep 19, 2026) from 24 valuation models. Cautious scenario 58.73 TRY, optimistic scenario 155.65 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Coca-Cola Icecek AS stock forecast for 2026?
Our models put fair value at 105.62 TRY, about +32% upside versus a price of 80.00 TRY (undervalued). Cautious scenario 58.73 TRY, optimistic scenario 155.65 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Coca-Cola Icecek AS (CCOLA)?
Coca-Cola Icecek AS reported trailing-twelve-month revenue of about 192B TRY (latest available figure, as of Sep 19, 2026).
Does Coca-Cola Icecek AS pay a dividend?
Coca-Cola Icecek AS currently shows a dividend yield of about 1.79% relative to its recent price (as of Sep 19, 2026).
What growth is priced into Coca-Cola Icecek AS (CCOLA)?
For today's price to be fair in a discounted-cash-flow model, Coca-Cola Icecek AS would have to grow free cash flow by +14.8 % per year for five years (discount rate 12.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +67.1 % per year. As of Sep 19, 2026.
What discount rate (WACC) does the fair value of CCOLA use?
Our models discount Coca-Cola Icecek AS at 12.7 %: a base by market capitalisation (mid), damped by beta 0.27, 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 Coca-Cola Icecek AS that is +14.8 % per year a year over ten years, using the same discount rate (12.7 %) and the same formula as our fair value.
How much growth has Coca-Cola Icecek AS (CCOLA) delivered so far?
Over the past 5 years revenue at Coca-Cola Icecek AS grew +67.1 % a year. The price currently implies +14.8 % 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 Coca-Cola Icecek AS (CCOLA) growing?
The median revenue growth in the sector is +2.9 % a year. That is the yardstick for the growth priced into Coca-Cola Icecek AS (+14.8 % 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 Coca-Cola Icecek AS (CCOLA)?
The free-cash-flow yield on the price is 6.03 %: that much free cash flow Coca-Cola Icecek AS produces per unit of market value. When it exceeds the discount rate of our models (12.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Coca-Cola Icecek AS (CCOLA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Coca-Cola Icecek AS it is 105.62 TRY per share (as of Sep 19, 2026), against a price of 80.00 TRY. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Coca-Cola Icecek AS stock overvalued or undervalued in 2026?
As of Sep 19, 2026, CCOLA trades below its calculated fair value: price 80.00 TRY, fair value 105.62 TRY, a gap of about +32% (undervalued). 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 CCOLA?
No. The price is what the market pays today (80.00 TRY); the fair value is what the company's own numbers justify (105.62 TRY). For Coca-Cola Icecek AS the two are 25.62 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Coca-Cola Icecek AS worth?
The market values Coca-Cola Icecek AS at about 246B TRY (market capitalisation, as of Sep 19, 2026). Per share that is 80.00 TRY; our models calculate a fair value of 105.62 TRY per share.
What do the bullish and bearish scenarios say about CCOLA?
Our models span a range for Coca-Cola Icecek AS: cautious scenario 58.73 TRY, base 105.62 TRY, optimistic 155.65 TRY per share (as of Sep 19, 2026, price 80.00 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CCOLA?
Coca-Cola Icecek AS trades at a price-to-earnings ratio of 12.7 (as of Sep 19, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 105.62 TRY is built from several models across several years. Other multiples: PEG 0.7, P/B 3.2, P/S 1.3, EV/EBITDA 7.1.
What is the PEG ratio of CCOLA?
The PEG ratio of Coca-Cola Icecek AS is 0.67 (P/E divided by earnings growth, as of Sep 19, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Coca-Cola Icecek AS (CCOLA)?
Balance-sheet figures for Coca-Cola Icecek AS (as of Sep 19, 2026): return on equity 22.0%, debt of 0.42 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is CCOLA from its 52-week high?
Coca-Cola Icecek AS trades at 80.00 TRY, about 14% below its 52-week high of 93.50 TRY and 80% above the low of 44.40 TRY (as of Sep 19, 2026). Distance from the high says nothing about value: that is what the fair value of 105.62 TRY is for.
Which stocks are comparable to Coca-Cola Icecek AS?
From the same area (Consumer Defensive) we also value The Coca-Cola Company, PepsiCo, Inc, Monster Beverage Corporation, Nongfu Spring Co, 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 Coca-Cola Icecek AS stock attractive at the current price?
The data as of Sep 19, 2026: price 80.00 TRY, calculated fair value 105.62 TRY (+32%), Quality Score 46/100, from 24 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 CCOLA calculated?
We run Coca-Cola Icecek AS through 24 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 105.62 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 16.0 % above its aggregate fair value. Coca-Cola Icecek AS currently trades 32 % below its own fair value, and the market average says nothing about that. 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 Coca-Cola Icecek AS (CCOLA)?
The closing price on Sep 18, 2026 was 80.00 TRY. Our model-based fair value is 105.62 TRY, about +32% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Coca-Cola Icecek AS right now?
The model range is unusually wide (58.73 TRY to 155.65 TRY). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (46/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Coca-Cola Icecek AS
How large is the market capitalisation of Coca-Cola Icecek AS (CCOLA)?
The market capitalisation of Coca-Cola Icecek AS is 246B TRY (≈ $5.0B). 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 is the P/S ratio of Coca-Cola Icecek AS (CCOLA)?
The price-to-sales ratio of Coca-Cola Icecek AS is 0.95 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Coca-Cola Icecek AS (CCOLA)?
Earnings per share at Coca-Cola Icecek AS are 6.30 TRY (price ÷ EPS = P/E 12.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Coca-Cola Icecek AS (CCOLA)?
The dividend yield of Coca-Cola Icecek AS is 1.8% (payout 22.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Coca-Cola Icecek AS (CCOLA)?
The net margin of Coca-Cola Icecek AS is 7.5% (fiscal year 2025). 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 Coca-Cola Icecek AS (CCOLA)?
The return on equity (ROE) of Coca-Cola Icecek AS is 22.0% (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 Coca-Cola Icecek AS (CCOLA)?
On an EBIT basis the return on assets of Coca-Cola Icecek AS is 14.5% (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 Coca-Cola Icecek AS (CCOLA)?
The operating margin of Coca-Cola Icecek AS is 13.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Coca-Cola Icecek AS (CCOLA)?
Revenue at Coca-Cola Icecek AS is growing +10.7% versus a year earlier (3y avg +51.8%). 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 Coca-Cola Icecek AS (CCOLA)?
Earnings per share at Coca-Cola Icecek AS are growing +214% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Coca-Cola Icecek AS (CCOLA) carry?
The net debt of Coca-Cola Icecek AS is 24.4B TRY (fiscal year 2025, ≈ 1.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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