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Cemas Dokum Sanayi AS (CEMAS) fair value: what the stock is really worth

As of Nov 3, 2026: fair value (intrinsic value) of Cemas Dokum Sanayi AS stock TRY 2.96, price TRY 2.03, upside +45.8%, quality 25 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

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Industrials TR · ISIN TRECMAS00010

CD Cemas Dokum Sanayi AS logo Thin data Nov 3, 2026

Cemas Dokum Sanayi AS

CEMAS · IS
Speculative

The stock costs 31% less than our calculation considers fair.

Fair value 2.96 TRY · Undervalued (31%)
Low debt
Even on cautious assumptions the value is 9% above the price (2.21 TRY).
Expensive Growth (revenue 5y +53.3 %/yr in TRY)
Mixed vs. peers (4/10)
Quality 25/100
Loss-making · -66.8% net margin (TTM)
Negative free cash flow
Narrow moat 9/100
Thin data
⟳ Cyclical
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

11.23 TRY 1.00 TRY Fair Value 2.96 TRY Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.

How to read this chart

60‑month range 1.00 TRY – 11.23 TRY · fair‑value band 2.21 TRY – 4.42 TRY · the 2.03 TRY price screens below the 2.96 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.

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Company profile

Çemas Döküm Sanayi A.S. provides alloyed grinding products for the cement and mining industries. It offers grinding media balls and cylpebs.

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The company also produces cast parts, nodular and grey iron, and machining parts for use in agriculture, industrial machines, marine, construction, compressors, hydraulic pump, heavy construction equipment and many sectors, white goods, pumps, reducers, and machinery, such as knuckle, reducer housing, axle housing, transmission housing, weight, transmission parts, wheel hubs, oil sump, brake disc, reducer housing cover, flywheel, gearbox, cover, crankshaft pulley, axle components, engine cap, flywheel housing, agricultural ancillary equipment, brake discs and brake levers, suspension components, gear sets and gearboxes, differential components, exhaust manifolds, transmission housing parts, pistons, brackets, engine components, seat plates, brake drums, flywheels, exhaust manifolds, control arms, differansiyel parçalari, crane load-bearing parts, housing, bearing housing, and fittings.

Çemas Döküm Sanayi A.S. was founded in 1976 and is based in Kirsehir, Turkey.

Stock analysis

Cemas Dokum Sanayi AS (CEMAS) currently trades at 2.03 TRY, while our model-based Fair Value estimate is 2.96 TRY, implying the stock looks roughly 31% undervalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the data coverage at low.

Scenario range: 2.21 TRY (bear) to 4.42 TRY (bull), the price of 2.03 TRY sits below 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 25/100 (below-average quality), in the Industrials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Cemas Dokum Sanayi AS reported revenue of 1.7B TRY in FY2025 versus 333M TRY in FY2021, a compound +50.6%/yr. Reported net income was −1.4B TRY in FY2025.

Key figures

Market cap 1.6B TRY (≈ $32.1M) Micro · P/S ratio 1.07 · EPS (TTM) −1.52 TRY · Net margin −66.8% · Return on equity −24.8% · Return on assets (EBIT) −2.8% · Operating margin −32.2% · Revenue (TTM) 1.5B TRY.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 9 out of 100 (medium confidence).

What moves the price

The share trades about 69% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −37% fair-value upside, at 46%, CEMAS screens cheaper than that median.

Fair Value models

Bear 2.21 TRY Fair Value 2.96 TRY Bull 4.42 TRY
Price 2.03 TRY · Upside +45.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = 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.
Best data coverage
NCAV (Graham) 2.21 TRY 2.96 TRY 4.42 TRY 54
All 1 models by family
Asset-Based
NCAV (Graham) 2.21 TRY 2.96 TRY 4.42 TRY 54

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Quality Score breakdown

Overall quality 25/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 4
How much profit the company makes from its sales and capital
Quality Growth 4
Are margins and returns getting better?
Cashflow 13
Do the profits arrive as real cash?
Financial strength 50
Debt, balance sheet and risk of trouble
Investment 0
Does it invest with discipline instead of growing at any price?
Low Volatility 59
How calm the share price moves, does not count
Price momentum 1
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 1
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

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Revenue & earnings trend

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. 32/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−30.4%
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.
+29.2%
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.
+53.3%
Start year 2020 (pandemic). Over 10 years: +33.4% a year
Revenue growth 18 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.
+26.5%
Profit margin (trend) ⓘ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.
9.6% (2020) → −38.1% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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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.Metal Fabrication · 258 stocks

Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 25 · Bottom 25%
Fair Value upside +45.8% · Top 25%
Profitability
Return on assets −29.3% · Bottom 25%
Net margin (12 months) −66.8% · Bottom 25%
Operating margin (12 months) −32.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 0.8% · Below median
Balance sheet
Debt / equity 0.01× · Lowest 25%

Valuation Multiplesvs Metal Fabrication median · lower = cheaper

P/B 0.46× · Cheapest 25%
P/S (12 months) 1.07× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)94 · sector 0
FUTURE (revenue growth)4 · sector 70
PAST (return on equity)0 · sector 24
HEALTH (low debt)99 · sector 95
DIVIDEND (yield)0 · sector 26

Context: sector, industry, market

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

Similar stocks

10 more Metal Fabrication stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
China International Marine Containers (Group) Co 000039 ¥9.40 ¥12.78 +36% vs CEMAS
Commercial Metals Company CMC $66.38 $83.04 +25% vs CEMAS
Viohalco S.A VIO €14.90 €15.20 +2% vs CEMAS
Mueller Industries, Inc MLI $55.55 $50.63 −9% vs CEMAS
Western Superconducting Technologies Co 688122 ¥42.45 ¥26.76 −37% vs CEMAS
Carpenter Technology Corporation CRS $296.72 $140.03 −53% vs CEMAS
SINOMACH HEAVY EQUIPMENT GROUP CO.,LTD researches, 601399 ¥3.03 ¥1.42 −53% vs CEMAS
ATI Inc ATI $180.33 $46.69 −74% vs CEMAS
Bharat Forge Limited BHARATFORG ₹1,777 ₹391.10 −78% vs CEMAS
JL Mag Rare-Earth Co 300748 ¥23.33 ¥5.06 −78% vs CEMAS

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Cemas Dokum Sanayi AS: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Cemas Dokum Sanayi AS Fair Value". https://www.fairvalue-calculator.com/stock/CEMAS

Frequently asked questions

Is Cemas Dokum Sanayi AS (CEMAS) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 2.96 TRY versus a price of 2.03 TRY, about +46% upside (undervalued).
What is the fair value of CEMAS?
Our model-based fair value for Cemas Dokum Sanayi AS is 2.96 TRY (as of Nov 3, 2026), built from audited fundamentals. The current price: 2.03 TRY.
What is the quality score of CEMAS?
Cemas Dokum Sanayi AS has a Quality Score of 25/100. 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 Cemas Dokum Sanayi AS (CEMAS)?
Our model-based price target is the fair value of 2.96 TRY (as of Nov 3, 2026) from 1 valuation models. Cautious scenario 2.21 TRY, optimistic scenario 4.42 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Cemas Dokum Sanayi AS stock forecast for 2026?
Our models put fair value at 2.96 TRY, about +46% upside versus a price of 2.03 TRY (undervalued). Cautious scenario 2.21 TRY, optimistic scenario 4.42 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Cemas Dokum Sanayi AS (CEMAS)?
Cemas Dokum Sanayi AS reported trailing-twelve-month revenue of about 1.5B TRY (latest available figure, as of Nov 3, 2026).
What is the intrinsic value of Cemas Dokum Sanayi AS (CEMAS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cemas Dokum Sanayi AS it is 2.96 TRY per share (as of Nov 3, 2026), against a price of 2.03 TRY. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Cemas Dokum Sanayi AS stock overvalued or undervalued in 2026?
As of Nov 3, 2026, CEMAS trades below its calculated fair value: price 2.03 TRY, fair value 2.96 TRY, a gap of about +46% (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 CEMAS?
No. The price is what the market pays today (2.03 TRY); the fair value is what the company's own numbers justify (2.96 TRY). For Cemas Dokum Sanayi AS the two are 0.9300 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Cemas Dokum Sanayi AS worth?
The market values Cemas Dokum Sanayi AS at about 1.6B TRY (market capitalisation, as of Nov 3, 2026). Per share that is 2.03 TRY; our models calculate a fair value of 2.96 TRY per share.
What do the bullish and bearish scenarios say about CEMAS?
Our models span a range for Cemas Dokum Sanayi AS: cautious scenario 2.21 TRY, base 2.96 TRY, optimistic 4.42 TRY per share (as of Nov 3, 2026, price 2.03 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Cemas Dokum Sanayi AS (CEMAS)?
Balance-sheet figures for Cemas Dokum Sanayi AS (as of Nov 3, 2026): return on equity −24.8%, debt of 0.01 per unit of equity. They feed the Quality Score of 25/100, which measures business quality independently of the share price.
How far is CEMAS from its 52-week high?
Cemas Dokum Sanayi AS trades at 2.03 TRY, about 69% below its 52-week high of 6.46 TRY and 6% above the low of 1.92 TRY (as of Nov 3, 2026). Distance from the high says nothing about value: that is what the fair value of 2.96 TRY is for.
Which stocks are comparable to Cemas Dokum Sanayi AS?
From the same area (Industrials) we also value ATI Inc, Carpenter Technology Corporation, Mueller Industries, Inc, Bharat Forge 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 Cemas Dokum Sanayi AS stock attractive at the current price?
The data as of Nov 3, 2026: price 2.03 TRY, calculated fair value 2.96 TRY (+46%), Quality Score 25/100, from 1 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 CEMAS calculated?
We run Cemas Dokum Sanayi AS through 1 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 2.96 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 14.5% above its aggregate fair value. Cemas Dokum Sanayi AS currently trades 31% 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 Cemas Dokum Sanayi AS (CEMAS)?
The closing price on Nov 3, 2026 was 2.03 TRY. Our model-based fair value is 2.96 TRY, about +46% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cemas Dokum Sanayi AS right now?
The large discount to fair value meets weak quality (25/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (2.21 TRY). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (2.21 TRY to 4.42 TRY) leaves room in how you read the outcome.

Key figures of Cemas Dokum Sanayi AS

How large is the market capitalisation of Cemas Dokum Sanayi AS (CEMAS)?
The market capitalisation of Cemas Dokum Sanayi AS is 1.6B TRY (≈ $32.1M). 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 Cemas Dokum Sanayi AS (CEMAS)?
The price-to-sales ratio of Cemas Dokum Sanayi AS is 1.07 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Cemas Dokum Sanayi AS (CEMAS)?
Earnings per share at Cemas Dokum Sanayi AS are −1.52 TRY. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Cemas Dokum Sanayi AS (CEMAS)?
The net margin of Cemas Dokum Sanayi AS is −66.8% (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 Cemas Dokum Sanayi AS (CEMAS)?
The return on equity (ROE) of Cemas Dokum Sanayi AS is −24.8% (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 Cemas Dokum Sanayi AS (CEMAS)?
On an EBIT basis the return on assets of Cemas Dokum Sanayi AS is −2.8% (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 Cemas Dokum Sanayi AS (CEMAS)?
The operating margin of Cemas Dokum Sanayi AS is −32.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cemas Dokum Sanayi AS (CEMAS)?
Revenue at Cemas Dokum Sanayi AS is growing +0.8% versus a year earlier (3y avg +29.2%). 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 Cemas Dokum Sanayi AS (CEMAS)?
Earnings per share at Cemas Dokum Sanayi AS are growing −56.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Cemas Dokum Sanayi AS (CEMAS) generate?
The free cash flow of Cemas Dokum Sanayi AS is −1.9B TRY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Cemas Dokum Sanayi AS (CEMAS) carry?
The net debt of Cemas Dokum Sanayi AS is 110M TRY (fiscal year 2025). 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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