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CMBTN Fair Value & Analysis

Basic Materials · Market cap 2.7B TRY

C CMBTN CMBTN · IS
Price1,532 TRY
Fair Value952.46 TRY
Upside-37.8%
Quality34/100
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Mixed Growth
Loss-making · -8.3% net margin
generates free cash flow
Trails peers (3/10)
Narrow moat 0/100
Evidence: Medium Range 737.89 TRY – 1,167 TRY Share as image

Fair value as of: Aug 6, 2026

From 11 valuation models · updated today

Share price −15.5% over the past month.

Below-average quality, and screening another 38% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (1,167 TRY). The favourable scenario is already priced in.
  • Weak quality (34/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

4,715 TRY 179.40 TRY Fair Value 952.46 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 179.40 TRY – 4,715 TRY · fair‑value band 737.89 TRY – 1,167 TRY · the 1,532 TRY price screens above the 952.46 TRY fair value. Dashed = 300-day average. As of Aug 6, 2026.

Which stocks are undervalued right now? Check free Discover now →

Analysis

CMBTN (CMBTN) currently trades at 1,532 TRY, while our model-based Fair Value estimate is 952.46 TRY, implying the stock looks roughly 37.8% overvalued today. We read business quality at 34/100 (below-average quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, CMBTN generated revenue of 4.4B TRY at a net margin of -8.3%. Revenue declined 44.7% year over year. Fundamentals as of Aug 6, 2026

Our scenario range runs from 737.89 TRY (bear case) to 1,167 TRY (bull case); at 1,532 TRY, the current price sits above that range. The share trades about 42% below its 52-week high and 3% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -59% fair-value upside, at -38%, CMBTN 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 5,075 TRY 9,574 TRY 16,823 TRY 72
Rev-Margin DCF 4,410 TRY 7,688 TRY 14,558 TRY 67
EV/EBITDA 931.00 TRY 1,210 TRY 1,489 TRY 54
All 11 models by family
DCF Models
FCF DCF 5,398 TRY 8,260 TRY 17,183 TRY 38
Owner Earnings 508.68 TRY 1,013 TRY 2,032 TRY 31
5Y Revenue Exit 4,011 TRY 6,732 TRY 12,415 TRY 39
5Y EBITDA Exit 2,228 TRY 3,128 TRY 4,865 TRY 41
10Y Revenue Exit 4,356 TRY 9,097 TRY 12,006 TRY 36
10Y EBITDA Exit 3,216 TRY 5,346 TRY 8,520 TRY 37
Multiples
EV/EBITDA 931.00 TRY 1,210 TRY 1,489 TRY 54
EV/Revenue 3,129 TRY 4,429 TRY 5,729 TRY 43
Asset-Based
NCAV (Graham) 109.64 TRY 146.92 TRY 219.28 TRY 50
Growth DCF
Growth DCF 5,075 TRY 9,574 TRY 16,823 TRY 72
Rev-Margin DCF 4,410 TRY 7,688 TRY 14,558 TRY 67

Widest divergence: Growth DCF (7,688 TRY) versus Asset-Based (146.92 TRY). Highest evidence: Growth DCF (72).

Key figures & financial health

Revenue (TTM) 4.4B TRY
Revenue growth (YoY) -44.7%
Net margin -8.3%
Return on equity -101%
Free cash flow 590M TRY FY2025
Operating margin -25.4%
More key figures
EPS (TTM) -205.28 TRY
EPS growth (YoY) -89.0%

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

Quality Score breakdown

Overall quality 34/100

Of which business quality 44 · Market factors (momentum, volatility) 32

Profitability 20
Margins and returns on capital today
Quality Growth 17
Are margins and returns improving?
Cashflow 68
Earnings quality: real cash, not paper profit
Fin. Strength 44
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 19
Price trend over the last 3–12 months (market factor)
52W Momentum 2
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.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CMBTN reported revenue of 5.0B TRY in FY2025 versus 455M TRY in FY2021, a compound +82.4%/yr. Reported net income was −300M TRY in FY2025.

Growth Quality 61/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
5.0B TRY
Latest YoY
−19.3%
Avg. growth/yr (3Y)
+61.0%
Avg. growth/yr (5Y)
+82.6%
Avg. growth/yr (20Y)
+22.9%
Revenue +82.4%/yr
FY21 455M TRY
FY22 1.2B TRY
FY23 4.3B TRY
FY24 6.2B TRY
FY25 5.0B TRY
Net income
FY21 3.1M TRY
FY22 34.8M TRY
FY23 119M TRY
FY24 −8.2M TRY
FY25 −300M TRY

CMBTN screens 38% overvalued. Compare with CRH plc →

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

Peer Group

Building Materials · 255 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 34 · Bottom 25%
Fair Value upside −38% · Below median
Return on assets -9% · Bottom 25%
Net margin (TTM) -8% · Bottom 25%
Operating margin (TTM) -25% · Bottom 25%
Revenue growth -45% · Bottom 25%

Valuation Multiples vs Building Materials median · lower = cheaper

P/B 0.15× · Cheaper than 75% of peers
P/S (TTM) 0.01× · Cheaper than 75% of peers
P/FCF 0.1× · Cheaper than 75% of peers

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 Building Materials stocks, each showing price versus our Fair Value estimate (as of Aug 6, 2026).

Stock Price Fair Value vs Fair Value
CRH plc CRH $102.92 $70.57 -31%
UltraTech Cement Limited ULTRACEMCO ₹11,711 ₹4,719 -60%
China Jushi Co 600176 ¥54.52 ¥13.95 -74%
Grasim Industries Limited GRASIM ₹3,073 ₹1,245 -59%
CEMEX, S.A. CEMEXCPO 21.71 MXN 15.42 MXN -29%
Anhui Conch Cement Company 600585 ¥16.99 ¥26.14 +54%
Ambuja Cements Limited AMBUJACEM ₹435.25 ₹227.96 -48%
Shree Cement Limited SHREECEM ₹26,930 ₹8,215 -69%
TCC Group 1101B 43.70 TWD 10.48 TWD -76%
Taiwan Glass Ind. Corp 1802 53.30 TWD 13.98 TWD -74%

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Frequently asked questions

Is CMBTN overvalued or undervalued?
As of Aug 6, 2026, our model estimates a fair value of 952.46 TRY versus a price of 1,532 TRY, about −38% (overvalued).
What is the fair value of CMBTN?
Our model-based fair value for CMBTN is 952.46 TRY (as of Aug 6, 2026), built from audited fundamentals. The current price is 1,532 TRY.
What is the quality score of CMBTN?
CMBTN has a Quality Score of 34/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of CMBTN?
CMBTN reported trailing-twelve-month revenue of about 4.4B TRY (latest available figure, as of Aug 6, 2026).
What is the net profit margin of CMBTN?
The net profit margin of CMBTN is about -8.3%, 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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