Cimentas Izmir Cimento Fabrikasi TAS (CMENT) fair value: what the stock is really worth
We calculate from audited financials what Cimentas Izmir Cimento Fabrikasi TAS 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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Çimentas Izmir Çimento Fabrikasi Türk A.S., together with its subsidiaries, engages in the production, trading, sale, and transportation of bulk and bagged cement in Turkey. The company offers cement, ready mixed concrete, and aggregate products. It is also involved in waste management and sale of fuel.
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Çimentas Izmir Çimento Fabrikasi Türk A.S., together with its subsidiaries, engages in the production, trading, sale, and transportation of bulk and bagged cement in Turkey. The company offers cement, ready mixed concrete, and aggregate products. It is also involved in waste management and sale of fuel. The company was founded in 1947 and is headquartered in Izmir, Turkey. Çimentas Izmir Çimento Fabrikasi Türk A.S. operates as a subsidiary of Aalborg Portland Espana SL.
Stock analysis
Cimentas Izmir Cimento Fabrikasi TAS (CMENT) currently trades at 232.00 TRY, while our model-based Fair Value estimate is 115.58 TRY, implying the stock looks roughly 100.7% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 540.57 TRY per share, and 22 of the 24 models we run sit above the 232.00 TRY price.
Bear case: the Asset-Based group reads lowest at 122.46 TRY, and 2 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: 81.71 TRY (bear) to 174.93 TRY (bull), the price of 232.00 TRY sits above 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 53/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Cimentas Izmir Cimento Fabrikasi TAS reported revenue of 17.0B TRY in FY2025 versus 1.8B TRY in FY2021, a compound +74.9%/yr. Reported net income was 1.2B TRY in FY2025, compounding +64.8%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 24.1B TRY (≈ $494M) · P/E ratio 29.7 · P/S ratio 2.09 · EPS (TTM) 7.81 TRY · Dividend yield 0.0% · Net margin 7.0% · Return on equity 5.2% · Return on assets (EBIT) 7.1%.
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 51% below its 52-week high, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −38% fair-value upside, at −50%, CMENT screens richer than that median.
Fair Value models
Bear 81.71 TRYFair Value 115.58 TRYBull 174.93 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 (5.63 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.84/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−9.9%
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.
+53.1%
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.
+71.7%
Revenue growth 20 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.
+23.7%
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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.
+49.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+49.1%
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.−5% → 11%
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).
+8.1%
Yearly growth needed for the next five years to justify today's price.
Compare Cimentas Izmir Cimento Fabrikasi TAS 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.Building Materials · 254 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score53 · Above median
Fair Value upside−7% · Below median
Profitability
Return on equity (TTM)5% · Above median
Return on assets3% · Above median
Net margin (TTM)4% · Below median
Operating margin (TTM)−19% · Bottom 25%
Growth and dividend
Revenue growth−30% · Bottom 25%
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Building Materials median · lower = cheaper
P/E (TTM)29.7× · Pricier than median
P/B1.52× · Pricier than median
P/S (TTM)1.52× · Pricier than median
P/FCF0.3× · Cheapest 25%
EV/EBITDA11.0× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 27
FUTURE (revenue growth)0· sector 2
PAST (return on equity)21· sector 15
HEALTH (low debt)100· sector 92
DIVIDEND (yield)1· sector 45
VALUE 0: the price sits above our fair-value range.
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). "Cimentas Izmir Cimento Fabrikasi TAS Fair Value". https://www.fairvalue-calculator.com/stock/CMENT
Frequently asked questions
Is Cimentas Izmir Cimento Fabrikasi TAS (CMENT) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of 115.58 TRY versus a price of 232.00 TRY, about −50% upside (overvalued).
What is the fair value of CMENT?
Our model-based fair value for Cimentas Izmir Cimento Fabrikasi TAS is 115.58 TRY (as of Sep 13, 2026), built from audited fundamentals. The current price: 232.00 TRY.
What is the quality score of CMENT?
Cimentas Izmir Cimento Fabrikasi TAS has a Quality Score of 53/100. 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 Cimentas Izmir Cimento Fabrikasi TAS (CMENT)?
Our model-based price target is the fair value of 115.58 TRY (as of Sep 13, 2026) from 24 valuation models. Cautious scenario 81.71 TRY, optimistic scenario 174.93 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Cimentas Izmir Cimento Fabrikasi TAS stock forecast for 2026?
Our models put fair value at 115.58 TRY, about −50% upside versus a price of 232.00 TRY (overvalued). Cautious scenario 81.71 TRY, optimistic scenario 174.93 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Cimentas Izmir Cimento Fabrikasi TAS (CMENT)?
Cimentas Izmir Cimento Fabrikasi TAS reported trailing-twelve-month revenue of about 15.8B TRY (latest available figure, as of Sep 13, 2026).
Does Cimentas Izmir Cimento Fabrikasi TAS pay a dividend?
Cimentas Izmir Cimento Fabrikasi TAS currently shows a dividend yield of about 0.04% relative to its recent price (as of Sep 13, 2026).
What growth is priced into Cimentas Izmir Cimento Fabrikasi TAS (CMENT)?
For today's price to be fair in a discounted-cash-flow model, Cimentas Izmir Cimento Fabrikasi TAS would have to grow free cash flow by +8.1 % per year for five years (discount rate 15.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +71.7 % per year. As of Sep 13, 2026.
What discount rate (WACC) does the fair value of CMENT use?
Our models discount Cimentas Izmir Cimento Fabrikasi TAS at 15.7 %: a base by market capitalisation (small), 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 Cimentas Izmir Cimento Fabrikasi TAS that is +8.1 % per year a year over ten years, using the same discount rate (15.7 %) and the same formula as our fair value.
How much growth has Cimentas Izmir Cimento Fabrikasi TAS (CMENT) delivered so far?
Over the past 5 years revenue at Cimentas Izmir Cimento Fabrikasi TAS grew +71.7 % a year. The price currently implies +8.1 % 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 Cimentas Izmir Cimento Fabrikasi TAS (CMENT) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into Cimentas Izmir Cimento Fabrikasi TAS (+8.1 % 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 Cimentas Izmir Cimento Fabrikasi TAS (CMENT)?
The free-cash-flow yield on the price is 8.07 %: that much free cash flow Cimentas Izmir Cimento Fabrikasi TAS produces per unit of market value. When it exceeds the discount rate of our models (15.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Cimentas Izmir Cimento Fabrikasi TAS (CMENT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cimentas Izmir Cimento Fabrikasi TAS it is 115.58 TRY per share (as of Sep 13, 2026), against a price of 232.00 TRY. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Cimentas Izmir Cimento Fabrikasi TAS stock overvalued or undervalued in 2026?
As of Sep 13, 2026, CMENT trades above its calculated fair value: price 232.00 TRY, fair value 115.58 TRY, a gap of about −50% (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 CMENT?
No. The price is what the market pays today (232.00 TRY); the fair value is what the company's own numbers justify (115.58 TRY). For Cimentas Izmir Cimento Fabrikasi TAS the two are 116.42 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Cimentas Izmir Cimento Fabrikasi TAS worth?
The market values Cimentas Izmir Cimento Fabrikasi TAS at about 24.1B TRY (market capitalisation, as of Sep 13, 2026). Per share that is 232.00 TRY; our models calculate a fair value of 115.58 TRY per share.
What do the bullish and bearish scenarios say about CMENT?
Our models span a range for Cimentas Izmir Cimento Fabrikasi TAS: cautious scenario 81.71 TRY, base 115.58 TRY, optimistic 174.93 TRY per share (as of Sep 13, 2026, price 232.00 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CMENT?
Cimentas Izmir Cimento Fabrikasi TAS trades at a price-to-earnings ratio of 29.7 (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 115.58 TRY is built from several models across several years. Other multiples: P/B 1.5, P/S 1.5, EV/EBITDA 11.0.
How solid is the balance sheet of Cimentas Izmir Cimento Fabrikasi TAS (CMENT)?
Balance-sheet figures for Cimentas Izmir Cimento Fabrikasi TAS (as of Sep 13, 2026): return on equity 5.2%, debt of 0.00 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is CMENT from its 52-week high?
Cimentas Izmir Cimento Fabrikasi TAS trades at 232.00 TRY, about 51% below its 52-week high of 476.00 TRY (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of 115.58 TRY is for.
Which stocks are comparable to Cimentas Izmir Cimento Fabrikasi TAS?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Vulcan Materials Company, UltraTech Cement 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 Cimentas Izmir Cimento Fabrikasi TAS stock attractive at the current price?
The data as of Sep 13, 2026: price 232.00 TRY, calculated fair value 115.58 TRY (−50%), Quality Score 53/100, 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 CMENT calculated?
We run Cimentas Izmir Cimento Fabrikasi TAS 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 115.58 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. Cimentas Izmir Cimento Fabrikasi TAS 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 Cimentas Izmir Cimento Fabrikasi TAS (CMENT)?
The closing price on Sep 18, 2026 was 232.00 TRY. Our model-based fair value is 115.58 TRY, about −50% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cimentas Izmir Cimento Fabrikasi TAS right now?
The price sits above even our optimistic bull case (174.93 TRY). The favourable scenario is already priced in. Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (81.71 TRY to 174.93 TRY) leaves room in how you read the outcome.
Key figures of Cimentas Izmir Cimento Fabrikasi TAS
How large is the market capitalisation of Cimentas Izmir Cimento Fabrikasi TAS (CMENT)?
The market capitalisation of Cimentas Izmir Cimento Fabrikasi TAS is 24.1B TRY (≈ $494M). 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 Cimentas Izmir Cimento Fabrikasi TAS (CMENT)?
The price-to-sales ratio of Cimentas Izmir Cimento Fabrikasi TAS is 2.09 (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 Cimentas Izmir Cimento Fabrikasi TAS (CMENT)?
Earnings per share at Cimentas Izmir Cimento Fabrikasi TAS are 7.81 TRY (price ÷ EPS = P/E 29.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Cimentas Izmir Cimento Fabrikasi TAS (CMENT)?
The dividend yield of Cimentas Izmir Cimento Fabrikasi TAS is 0.0% (payout 1.1%). 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 Cimentas Izmir Cimento Fabrikasi TAS (CMENT)?
The net margin of Cimentas Izmir Cimento Fabrikasi TAS is 7.0% (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 Cimentas Izmir Cimento Fabrikasi TAS (CMENT)?
The return on equity (ROE) of Cimentas Izmir Cimento Fabrikasi TAS is 5.2% (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 Cimentas Izmir Cimento Fabrikasi TAS (CMENT)?
On an EBIT basis the return on assets of Cimentas Izmir Cimento Fabrikasi TAS is 7.1% (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 Cimentas Izmir Cimento Fabrikasi TAS (CMENT)?
The operating margin of Cimentas Izmir Cimento Fabrikasi TAS is −18.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cimentas Izmir Cimento Fabrikasi TAS (CMENT)?
Revenue at Cimentas Izmir Cimento Fabrikasi TAS is growing −30.1% versus a year earlier (3y avg +53.1%). 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 Cimentas Izmir Cimento Fabrikasi TAS (CMENT)?
Earnings per share at Cimentas Izmir Cimento Fabrikasi TAS are growing +17.0% versus a year earlier. How much earnings per share grew versus a year earlier.
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