Dap Gayrimenkul Gelistirme AS (DAPGM) fair value: what the stock is really worth
We calculate from audited financials what Dap Gayrimenkul Gelistirme 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 13, 2026.
How to read this chart
55‑month range 1.41 TRY – 19.00 TRY · the 5.55 TRY price screens above the 3.90 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 13, 2026.
DAP Gayrimenkul Gelistirme A.S. engages in the real estate business in Turkey. It is involved in the construction and development of residences, office, commercial, business centers, holiday villages, hotels, schools, and private hospital projects. The company was incorporated in 1981 and is headquartered in Istanbul, Turkey.
Stock analysis
Dap Gayrimenkul Gelistirme AS (DAPGM) currently trades at 5.55 TRY, while our model-based Fair Value estimate is 3.90 TRY, implying the stock looks roughly 42.3% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 21.14 TRY per share, and 5 of the 7 models we run sit above the 5.55 TRY price.
Bear case: the Asset-Based group reads lowest at 3.71 TRY, and 2 of the 7 models stay below the price. Evidence for this calculation is low.
Quality & growth
The Quality Score stands at 34/100 (below-average quality), in the Real Estate sector.
Mixed Growth: Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
Dap Gayrimenkul Gelistirme AS reported revenue of 8.0B TRY in FY2025 versus 912M TRY in FY2021, a compound +72.1%/yr. Reported net income was 1.0B TRY in FY2025, compounding +35.2%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 23.1B TRY (≈ $473M) · P/E ratio 13.9 · P/S ratio 1.81 · EPS (TTM) 0.4000 TRY · Net margin 13.0% · Return on equity 4.3% · Return on assets (EBIT) 22.2% · Operating margin 81.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (low confidence).
What moves the price
The share trades about 72% below its 52-week high, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −17% fair-value upside, at −30%, DAPGM screens richer than that median.
Fair Value models
Bear 3.90 TRYFair Value 3.90 TRYBull 3.90 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 (0.2871 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.55/100
Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
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. Basis: EBIT basis. 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.
+75.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+75.0%
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.46% → 69%
Compare Dap Gayrimenkul Gelistirme AS 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.Real Estate - Development · 574 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score35 · Bottom 25%
Fair Value upside+169% · Top 25%
Profitability
Return on equity (TTM)4% · Above median
Return on assets12% · Top 25%
Net margin (TTM)8% · Above median
Operating margin (TTM)81% · Top 25%
Growth and dividend
Revenue growth−12% · Below median
Balance sheet
Debt / equity0.10× · Below median
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
P/E (TTM)13.9× · Pricier than median
P/B1.57× · Priciest 25%
P/S (TTM)2.77× · Priciest 25%
EV/EBITDA3.9× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 51
FUTURE (revenue growth)0· sector 0
PAST (return on equity)17· sector 11
HEALTH (low debt)95· sector 85
DIVIDEND (yield)0· sector 56
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). "Dap Gayrimenkul Gelistirme AS Fair Value". https://www.fairvalue-calculator.com/stock/DAPGM
Frequently asked questions
Is Dap Gayrimenkul Gelistirme AS (DAPGM) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of 3.90 TRY versus a price of 5.55 TRY, about −30% upside (overvalued).
What is the fair value of DAPGM?
Our model-based fair value for Dap Gayrimenkul Gelistirme AS is 3.90 TRY (as of Sep 13, 2026), built from audited fundamentals. The current price: 5.55 TRY.
What is the quality score of DAPGM?
Dap Gayrimenkul Gelistirme AS has a Quality Score of 34/100. 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 Dap Gayrimenkul Gelistirme AS (DAPGM)?
Our model-based price target is the fair value of 3.90 TRY (as of Sep 13, 2026) from 7 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the Dap Gayrimenkul Gelistirme AS stock forecast for 2026?
Our models put fair value at 3.90 TRY, about −30% upside versus a price of 5.55 TRY (overvalued). The calculation is refreshed regularly with new filings.
What is the revenue of Dap Gayrimenkul Gelistirme AS (DAPGM)?
Dap Gayrimenkul Gelistirme AS reported trailing-twelve-month revenue of about 8.3B TRY (latest available figure, as of Sep 13, 2026).
What is the intrinsic value of Dap Gayrimenkul Gelistirme AS (DAPGM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Dap Gayrimenkul Gelistirme AS it is 3.90 TRY per share (as of Sep 13, 2026), against a price of 5.55 TRY. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is Dap Gayrimenkul Gelistirme AS stock overvalued or undervalued in 2026?
As of Sep 13, 2026, DAPGM trades above its calculated fair value: price 5.55 TRY, fair value 3.90 TRY, a gap of about −30% (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 DAPGM?
No. The price is what the market pays today (5.55 TRY); the fair value is what the company's own numbers justify (3.90 TRY). For Dap Gayrimenkul Gelistirme AS the two are 1.65 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Dap Gayrimenkul Gelistirme AS worth?
The market values Dap Gayrimenkul Gelistirme AS at about 23.1B TRY (market capitalisation, as of Sep 13, 2026). Per share that is 5.55 TRY; our models calculate a fair value of 3.90 TRY per share.
What is the P/E ratio of DAPGM?
Dap Gayrimenkul Gelistirme AS trades at a price-to-earnings ratio of 13.9 (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 3.90 TRY is built from several models across several years. Other multiples: P/B 1.6, P/S 2.8, EV/EBITDA 3.9.
How solid is the balance sheet of Dap Gayrimenkul Gelistirme AS (DAPGM)?
Balance-sheet figures for Dap Gayrimenkul Gelistirme AS (as of Sep 13, 2026): return on equity 4.3%, debt of 0.10 per unit of equity. They feed the Quality Score of 34/100, which measures business quality independently of the share price.
How far is DAPGM from its 52-week high?
Dap Gayrimenkul Gelistirme AS trades at 5.55 TRY, about 72% below its 52-week high of 19.75 TRY (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of 3.90 TRY is for.
Which stocks are comparable to Dap Gayrimenkul Gelistirme AS?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, CK Asset Holdings, Hongkong Land Holdings, DLF 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 Dap Gayrimenkul Gelistirme AS stock attractive at the current price?
The data as of Sep 13, 2026: price 5.55 TRY, calculated fair value 3.90 TRY (−30%), Quality Score 34/100, from 7 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 DAPGM calculated?
We run Dap Gayrimenkul Gelistirme AS through 7 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 3.90 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. Dap Gayrimenkul Gelistirme AS 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 Dap Gayrimenkul Gelistirme AS (DAPGM)?
The closing price on Sep 18, 2026 was 5.55 TRY. Our model-based fair value is 3.90 TRY, about −30% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Dap Gayrimenkul Gelistirme AS right now?
The price sits above even our optimistic bull case (3.90 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. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Dap Gayrimenkul Gelistirme AS
How large is the market capitalisation of Dap Gayrimenkul Gelistirme AS (DAPGM)?
The market capitalisation of Dap Gayrimenkul Gelistirme AS is 23.1B TRY (≈ $473M). 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 Dap Gayrimenkul Gelistirme AS (DAPGM)?
The price-to-sales ratio of Dap Gayrimenkul Gelistirme AS is 1.81 (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 Dap Gayrimenkul Gelistirme AS (DAPGM)?
Earnings per share at Dap Gayrimenkul Gelistirme AS are 0.4000 TRY (price ÷ EPS = P/E 13.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Dap Gayrimenkul Gelistirme AS (DAPGM)?
The net margin of Dap Gayrimenkul Gelistirme AS is 13.0% (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 Dap Gayrimenkul Gelistirme AS (DAPGM)?
The return on equity (ROE) of Dap Gayrimenkul Gelistirme AS is 4.3% (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 Dap Gayrimenkul Gelistirme AS (DAPGM)?
On an EBIT basis the return on assets of Dap Gayrimenkul Gelistirme AS is 22.2% (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 Dap Gayrimenkul Gelistirme AS (DAPGM)?
The operating margin of Dap Gayrimenkul Gelistirme AS is 81.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Dap Gayrimenkul Gelistirme AS (DAPGM)?
Revenue at Dap Gayrimenkul Gelistirme AS is growing −11.7% versus a year earlier (3y avg +22.7%). 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 Dap Gayrimenkul Gelistirme AS (DAPGM)?
Earnings per share at Dap Gayrimenkul Gelistirme AS are growing −55.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Dap Gayrimenkul Gelistirme AS (DAPGM) generate?
The free cash flow of Dap Gayrimenkul Gelistirme AS is −837M 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 Dap Gayrimenkul Gelistirme AS (DAPGM) carry?
The net debt of Dap Gayrimenkul Gelistirme AS is 1.5B 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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