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DAPGM Fair Value & Analysis

Real Estate · Market cap 23.1B TRY

D DAPGM DAPGM · IS
Price8.60 TRY
Fair Value20.59 TRY
Upside+139.4%
Quality31/100
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Expensive Growth
Thin margins · 7.8% net margin
Low debt · negative free cash flow
Mixed vs. peers (7/12)
Moderate moat 61/100
Evidence: High Range 14.24 TRY – 26.94 TRY Share as image

Fair value as of: Aug 6, 2026

From 15 valuation models · updated today

Share price −8.5% over the past month.

Below-average quality, screening 139% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (31/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (14.24 TRY). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (14.24 TRY to 26.94 TRY) leaves room in how you read the outcome.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (4 years)

19.00 TRY 1.41 TRY Fair Value 20.59 TRY Feb 2022 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

53‑month range 1.41 TRY – 19.00 TRY · fair‑value band 14.24 TRY – 26.94 TRY · the 8.60 TRY price screens below the 20.59 TRY fair value. Dashed = 300-day average. As of Aug 6, 2026.

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Analysis

DAPGM (DAPGM) currently trades at 8.60 TRY, while our model-based Fair Value estimate is 20.59 TRY, implying the stock looks roughly 139.4% undervalued today. We read business quality at 31/100 (below-average quality), in the Real Estate 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: high), always confirm before acting.

Over the trailing twelve months, DAPGM generated revenue of 8.3B TRY at a net margin of 7.8%. Revenue declined 11.7% year over year. It earns a return on equity of 4.3%. Net debt stands at 1.5B TRY. Fundamentals as of Aug 6, 2026

Our scenario range runs from 14.24 TRY (bear case) to 26.94 TRY (bull case); at 8.60 TRY, the current price sits below that range. The share trades about 56% below its 52-week high and 3% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 0% fair-value upside, at 139%, DAPGM 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
ROIC Compounder 23.72 TRY 37.10 TRY 55.20 TRY 72
Growth-Adj P/E 12.43 TRY 17.76 TRY 23.09 TRY 68
P/E Multiple 5.91 TRY 7.88 TRY 9.85 TRY 63
All 15 models by family
DCF Models
Owner Earnings 6.41 TRY 14.62 TRY 31.84 TRY 31
Earnings-Based
Graham-Dodd 2.68 TRY 18.68 TRY 26.21 TRY 54
Lynch FV 9.65 TRY 13.78 TRY 17.92 TRY 50
PEG = 1.0 9.65 TRY 13.78 TRY 17.92 TRY 46
EPV 17.83 TRY 20.81 TRY 23.41 TRY 59
Multiples
P/E Multiple 5.91 TRY 7.88 TRY 9.85 TRY 63
P/S Multiple 5.02 TRY 6.69 TRY 8.37 TRY 58
P/B Multiple 5.02 TRY 6.69 TRY 8.37 TRY 55
EV/EBIT 28.10 TRY 37.47 TRY 46.84 TRY 53
EV/EBITDA 20.45 TRY 27.28 TRY 34.10 TRY 54
EV/Revenue 5.27 TRY 7.54 TRY 9.81 TRY 43
Asset-Based
NCAV (Graham) 2.77 TRY 3.71 TRY 5.54 TRY 50
Economic Profit
Residual Income 4.50 TRY 4.75 TRY 5.11 TRY 61
ROIC Compounder 23.72 TRY 37.10 TRY 55.20 TRY 72
Growth Earnings
Growth-Adj P/E 12.43 TRY 17.76 TRY 23.09 TRY 68

Widest divergence: Growth Earnings (17.76 TRY) versus Asset-Based (3.71 TRY). Highest evidence: ROIC Compounder (72).

Key figures & financial health

Revenue (TTM) 8.3B TRY
Revenue growth (YoY) -11.7%
Net margin 7.8%
Return on equity 4.3%
Free cash flow −837M TRY FY2025
P/E ratio 21.8
More key figures
Operating margin 81.1%
EPS (TTM) 0.4000 TRY
EPS growth (YoY) -55.3%
Net debt 1.5B TRY FY2025

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

Quality Score breakdown

Overall quality 31/100

Of which business quality 33 · Market factors (momentum, volatility) 20

Profitability 34
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 59
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 11
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 40
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

DAPGM 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.

Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
8.0B TRY
Latest YoY
−9.8%
Avg. growth/yr (3Y)
+22.7%
Avg. growth/yr (5Y)
+68.9%
Avg. growth/yr (6Y)
+123.2%
Revenue +72.1%/yr
FY21 912M TRY
FY22 4.3B TRY
FY23 10.3B TRY
FY24 8.9B TRY
FY25 8.0B TRY
Net income +35.2%/yr
FY21 312M TRY
FY22 1.7B TRY
FY23 2.3B TRY
FY24 1.1B TRY
FY25 1.0B TRY

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

Peer Group

Real Estate - Development · 600 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 31 · Bottom 25%
Fair Value upside +139% · Top 25%
Return on equity (TTM) 4% · Above median
Return on assets 12% · Top 25%
Net margin (TTM) 8% · Above median
Operating margin (TTM) 81% · Top 25%
Revenue growth -12% · Below median
Debt / equity 0.10× · Lower than median

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 21.8× · Pricier than median
P/B 1.57× · Pricier than 75% of peers
P/S (TTM) 2.77× · Pricier than 75% of peers
EV/EBITDA 3.9× · 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 100 · sector 49
FUTURE 0 · sector 0
PAST 17 · sector 9
HEALTH 95 · sector 85
DIVIDEND 0 · sector 39

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 Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Aug 6, 2026).

Stock Price Fair Value vs Fair Value
Vinhomes Joint Stock Company VHM 147,000 VND 147,415 VND +0%
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%

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Frequently asked questions

Is DAPGM overvalued or undervalued?
As of Aug 6, 2026, our model estimates a fair value of 20.59 TRY versus a price of 8.60 TRY, about +139% (undervalued).
What is the fair value of DAPGM?
Our model-based fair value for DAPGM is 20.59 TRY (as of Aug 6, 2026), built from audited fundamentals. The current price is 8.60 TRY.
What is the quality score of DAPGM?
DAPGM has a Quality Score of 31/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of DAPGM?
DAPGM reported trailing-twelve-month revenue of about 8.3B TRY (latest available figure, as of Aug 6, 2026).
What is the net profit margin of DAPGM?
The net profit margin of DAPGM is about 7.8%, meaning it keeps roughly 7.8% of revenue as net income. 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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