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CELHA Fair Value & Analysis

Industrials · Market cap 9.9B TRY

C CELHA CELHA · IS
Price25.60 TRY
Fair Value34.26 TRY
Upside+33.8%
Quality35/100
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Mixed Growth
Loss-making · -33.5% net margin
Low debt · generates free cash flow
Mixed vs. peers (5/12)
Narrow moat 2/100
Evidence: Medium Range 21.89 TRY – 50.92 TRY Share as image

Fair value as of: Aug 6, 2026

From 8 valuation models · updated today

Share price +52.0% over the past month.

Below-average quality, screening 34% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (35/100). That raises the risk this is a value trap rather than a bargain.
  • A fairly wide model range (21.89 TRY to 50.92 TRY) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

26.60 TRY 1.06 TRY Fair Value 34.26 TRY May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 6, 2026.

How to read this chart

60‑month range 1.06 TRY – 26.60 TRY · fair‑value band 21.89 TRY – 50.92 TRY · the 25.60 TRY price screens below the 34.26 TRY fair value. Dashed = 300-day average. As of Aug 6, 2026.

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Analysis

CELHA (CELHA) currently trades at 25.60 TRY, while our model-based Fair Value estimate is 34.26 TRY, implying the stock looks roughly 33.8% undervalued today. We read business quality at 35/100 (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: medium), always confirm before acting.

Over the trailing twelve months, CELHA generated revenue of 2.1B TRY at a net margin of -33.5%. Revenue grew 0.6% year over year. It earns a return on equity of -18.9%. Net debt stands at 381M TRY. Fundamentals as of Aug 6, 2026

Our scenario range runs from 21.89 TRY (bear case) to 50.92 TRY (bull case); at 25.60 TRY, the current price sits within that range. The share trades about 8% below its 52-week high and 208% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -72% fair-value upside, at 34%, CELHA 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
Growth DCF 37.21 TRY 63.20 TRY 112.82 TRY 80
Gordon GGM 6.50 TRY 13.59 TRY 20.08 TRY 70
DDM Multi-Stage 6.50 TRY 11.81 TRY 14.18 TRY 61
All 8 models by family
DCF Models
FCF DCF 38.39 TRY 58.48 TRY 115.18 TRY 38
5Y Revenue Exit 30.13 TRY 48.44 TRY 85.06 TRY 39
10Y Revenue Exit 31.90 TRY 56.71 TRY 82.11 TRY 36
Dividend Discount
Gordon GGM 6.50 TRY 13.59 TRY 20.08 TRY 70
DDM Multi-Stage 6.50 TRY 11.81 TRY 14.18 TRY 61
Multiples
EV/Revenue 25.99 TRY 34.26 TRY 42.53 TRY 43
Asset-Based
NCAV (Graham) 233.91 TRY 313.07 TRY 467.24 TRY 50
Growth DCF
Growth DCF 37.21 TRY 63.20 TRY 112.82 TRY 80

Widest divergence: Asset-Based (313.07 TRY) versus Dividend Discount (11.81 TRY). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 2.1B TRY
Revenue growth (YoY) +0.6%
Net margin -33.5%
Return on equity -18.9%
Free cash flow 13.9M TRY FY2024
Operating margin -16.9%
More key figures
EPS (TTM) -0.8300 TRY
EPS growth (YoY) -83.7%
Net debt 381M TRY FY2024

Figures from reported company fundamentals · as of Aug 6, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 35/100

Of which business quality 26 · Market factors (momentum, volatility) 80

Profitability 7
Margins and returns on capital today
Quality Growth 19
Are margins and returns improving?
Cashflow 27
Earnings quality: real cash, not paper profit
Fin. Strength 74
Balance sheet, leverage, solvency risk
Investment 7
Disciplined investing over empire-building
Low Volatility 38
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 94
Distance to the 52-week high (market factor)
Net Issuance 0
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.

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

CELHA reported revenue of 1.6B TRL in FY2024 versus 331M TRL in FY2020, a compound +48.7%/yr. Reported net income was −128M TRL in FY2024.

Growth Quality 48/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2024)
1.6B TRY
Latest YoY
−33.2%
Avg. growth/yr (3Y)
+33.6%
Avg. growth/yr (5Y)
+39.0%
Avg. growth/yr (22Y)
−37.5%
Revenue +48.7%/yr
FY20 331M TRL
FY21 678M TRL
FY22 1.4B TRL
FY23 2.4B TRL
FY24 1.6B TRL
Net income
FY20 −8.1M TRL
FY21 7.6M TRL
FY22 9.1M TRL
FY23 52.9M TRL
FY24 −128M TRL

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Cite: Fair Value Calculator (2026). "CELHA Fair Value". https://www.fairvalue-calculator.com/stock/CELHA

Peer Group

Metal Fabrication · 245 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 35 · Bottom 25%
Fair Value upside +34% · Top 25%
Return on assets -1% · Bottom 25%
Net margin (TTM) -34% · Bottom 25%
Operating margin (TTM) -17% · Bottom 25%
Revenue growth 1% · Below median
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Metal Fabrication median · lower = cheaper

P/B 0.07× · Cheaper than 75% of peers
P/S (TTM) 0.10× · Cheaper than 75% of peers
P/FCF 14.9× · Pricier than 75% of peers
EV/EBITDA 0.8× · 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 78 · sector 0
FUTURE 3 · sector 34
PAST 0 · sector 20
HEALTH 100 · sector 95
DIVIDEND 0 · sector 25

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.

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Frequently asked questions

Is CELHA overvalued or undervalued?
As of Aug 6, 2026, our model estimates a fair value of 34.26 TRY versus a price of 25.60 TRY, about +34% (undervalued).
What is the fair value of CELHA?
Our model-based fair value for CELHA is 34.26 TRY (as of Aug 6, 2026), built from audited fundamentals. The current price is 25.60 TRY.
What is the quality score of CELHA?
CELHA has a Quality Score of 35/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of CELHA?
CELHA reported trailing-twelve-month revenue of about 2.1B TRY (latest available figure, as of Aug 6, 2026).
What is the net profit margin of CELHA?
The net profit margin of CELHA is about -33.5%, 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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