EN DE

Desa Deri Sanayi ve Ticaret A.S. (DESA) Fair Value & Analysis

Consumer Cyclical · TR · Market cap 4.7B TRY

DD Desa Deri Sanayi ve Ticaret A.S. DESA · IS
Price9.62 TRY
Fair Value26.06 TRY
Upside+170.9%
Quality60/100
Watch Desa Deri Sanayi ve Ticaret A.S. for free, get notified when fair value or trend changes. Watch for free
Mixed Growth
Solidly profitable · 14.1% net margin
Low debt · generates free cash flow
Ranks above peers (9/14)
Moderate moat 58/100
Evidence: High Range 19.55 TRY – 32.58 TRY Share as image

Fair value as of: Aug 6, 2026

From 26 valuation models · updated 4 days ago

Share price −11.7% over the past month.

A solid business, screening 171% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (19.55 TRY). The market is more pessimistic than our downside scenario.
  • Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality.
Share this valuation: 𝕏 WhatsApp

Price vs Fair Value (5 years)

16.05 TRY 0.7610 TRY Fair Value 26.06 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 0.7610 TRY – 16.05 TRY · fair‑value band 19.55 TRY – 32.58 TRY · the 9.62 TRY price screens below the 26.06 TRY fair value. Dashed = 300-day average. As of Aug 6, 2026.

Full chart & analysis →

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

Analysis

Desa Deri Sanayi ve Ticaret A.S. (DESA) currently trades at 9.62 TRY, while our model-based Fair Value estimate is 26.06 TRY, implying the stock looks roughly 170.9% undervalued today. The Quality Score stands at 60/100 (solid quality), in the Consumer Cyclical 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, Desa Deri Sanayi ve Ticaret A.S. generated revenue of 3.8B TRY at a net margin of 14.1%. Revenue declined 4.4% year over year. It earns a return on equity of 14.4%. Net debt stands at 67.0M TRY. Fundamentals as of Aug 6, 2026

Our scenario range runs from 19.55 TRY (bear case) to 32.58 TRY (bull case); at 9.62 TRY, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 42% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 0% fair-value upside, at 171%, DESA 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 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
Highest evidence
Growth DCF 28.92 TRY 51.94 TRY 96.98 TRY 80
Residual Income 7.73 TRY 10.23 TRY 29.85 TRY 76
Rev-Margin DCF 14.70 TRY 23.92 TRY 42.28 TRY 74
All 26 models by family
DCF Models
FCF DCF 30.79 TRY 47.37 TRY 99.07 TRY 38
Owner Earnings 29.40 TRY 65.07 TRY 137.20 TRY 31
5Y Revenue Exit 14.03 TRY 20.87 TRY 34.93 TRY 39
5Y EBITDA Exit 24.74 TRY 42.53 TRY 77.38 TRY 41
5Y P/E Exit 23.28 TRY 49.14 TRY 83.90 TRY 38
10Y Revenue Exit 19.01 TRY 33.86 TRY 40.89 TRY 36
10Y EBITDA Exit 26.94 TRY 56.40 TRY 106.66 TRY 37
10Y P/E Exit 25.90 TRY 53.33 TRY 97.31 TRY 35
Earnings-Based
Graham-Dodd 8.06 TRY 56.18 TRY 78.84 TRY 54
Lynch FV 24.55 TRY 35.07 TRY 45.59 TRY 50
PEG = 1.0 24.55 TRY 35.07 TRY 45.59 TRY 46
EPV 12.26 TRY 14.19 TRY 15.85 TRY 59
Dividend Discount
Gordon GGM 1.98 TRY 3.95 TRY 5.98 TRY 70
DDM Multi-Stage 1.98 TRY 3.41 TRY 4.17 TRY 61
Multiples
P/E Multiple 19.55 TRY 26.06 TRY 32.58 TRY 63
P/S Multiple 7.01 TRY 9.35 TRY 11.69 TRY 58
P/B Multiple 15.11 TRY 20.14 TRY 25.18 TRY 55
EV/EBIT 20.19 TRY 26.90 TRY 33.61 TRY 53
EV/EBITDA 21.59 TRY 28.76 TRY 35.94 TRY 54
EV/Revenue 6.61 TRY 9.42 TRY 12.22 TRY 43
Asset-Based
NCAV (Graham) 3.91 TRY 5.24 TRY 7.82 TRY 50
Growth DCF
Growth DCF 28.92 TRY 51.94 TRY 96.98 TRY 80
Rev-Margin DCF 14.70 TRY 23.92 TRY 42.28 TRY 74
Economic Profit
Residual Income 7.73 TRY 10.23 TRY 29.85 TRY 76
ROIC Compounder 16.03 TRY 23.26 TRY 28.13 TRY 72
Growth Earnings
Growth-Adj P/E 30.76 TRY 43.95 TRY 57.13 TRY 68

Widest divergence: DCF Models (47.37 TRY) versus Dividend Discount (3.41 TRY). Highest evidence: Growth DCF (80).

Notify me when DESA reaches fair value

Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click.

Key figures & financial health

Revenue (TTM) 3.8B TRY
Revenue growth (YoY) -4.4%
Net margin 14.1%
Return on equity 14.4%
Free cash flow 947M TRY FY2025
P/E ratio 8.9
More key figures
Operating margin 12.5%
EPS (TTM) 1.08 TRY
EPS growth (YoY) -30.1%
Net debt 67.0M TRY FY2024

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

Quality Score breakdown

Overall quality 60/100

Of which business quality 63 · Market factors (momentum, volatility) 27

Profitability 63
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 92
Earnings quality: real cash, not paper profit
Fin. Strength 68
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 71
Calm price path (market factor)
Momentum 11
Price trend over the last 3–12 months (market factor)
52W Momentum 4
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.

About the company

Desa Deri Sanayi ve Ticaret A.S. manufactures, sells, exports, and imports leather garments in Turkey. The company offers leather jackets, clothing, shoes, bags and accessories, backpacks, saddlery products, and other leather accessories for men and women.

Full company description

Desa Deri Sanayi ve Ticaret A.S. manufactures, sells, exports, and imports leather garments in Turkey. The company offers leather jackets, clothing, shoes, bags and accessories, backpacks, saddlery products, and other leather accessories for men and women. The company markets and sells its products through wholesale and retail sales channels, as well as through online stores. It also exports its products. The company was founded in 1972 and is headquartered in Istanbul, Turkey. Desa Deri Sanayi ve Ticaret A.S. is a subsidiary of Çelet Holding A.S.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Desa Deri Sanayi ve Ticaret A.S. reported revenue of 3.8B TRY in FY2025 versus 432M TRY in FY2021, a compound +72.4%/yr. Reported net income was 581M TRY in FY2025, compounding +88.1%/yr from FY2021.

Growth Quality 94/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
3.8B TRY
Latest YoY
−2.1%
Avg. growth/yr (3Y) ⓘ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.
+41.1%
Avg. growth/yr (5Y) ⓘ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.
+74.9%
Avg. growth/yr (20Y) ⓘ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.
+21.8%
Revenue +72.4%/yr
FY21 432M TRY
FY22 1.4B TRY
FY23 3.5B TRY
FY24 3.9B TRY
FY25 3.8B TRY
Net income +88.1%/yr
FY21 46.4M TRY
FY22 287M TRY
FY23 716M TRY
FY24 429M TRY
FY25 581M TRY

Watch DESA: get an alert when its fair value changes →

Run the numbers yourself: free valuation calculators
DCF CalculatorGraham NumberPeter Lynch FormulaDDM CalculatorFama-French ModelIntrinsic Value
Share or link this analysis
𝕏 Post WhatsApp LinkedIn Reddit
For bloggers & editors: embed code + live data

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.

Desa Deri Sanayi ve Ticaret A.S. · Fair Value
26.06 TRY +171%Fair Value
Calculator →

Cite: Fair Value Calculator (2026). "Desa Deri Sanayi ve Ticaret A.S. Fair Value". https://www.fairvalue-calculator.com/stock/DESA

Peer Group

Footwear & Accessories · 94 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 60 · Above median
Fair Value upside +171% · Top 25%
Return on equity (TTM) 14% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 14% · Top 25%
Operating margin (TTM) 12% · Top 25%
Revenue growth -4% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Footwear & Accessories median · lower = cheaper

P/E (TTM) 8.9× · Cheaper than 75% of peers
P/B 1.23× · Pricier than median
P/S (TTM) 1.25× · Pricier than median
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 9.0× · Pricier than median

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 4
FUTURE 0 · sector 0
PAST 58 · sector 23
HEALTH 100 · sector 97
DIVIDEND 0 · sector 41

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 Footwear & Accessories stocks, each showing price versus our Fair Value estimate (as of Aug 6, 2026).

Stock Price Fair Value vs Fair Value
NIKE, Inc NKE $44.37 $35.63 -20%
adidas AG 1ADS €165.00 €65.71 -60%
Deckers Outdoor Corporation DECK $106.49 $125.16 +18%
On Holding ONON $38.20 $17.64 -54%
Zhejiang China Commodities City Group 600415 ¥12.11 ¥13.03 +8%
Birkenstock Holding BIRK $44.36 $44.14 -0%
Crocs, Inc CROX $138.91 $203.65 +47%
Huali Industrial Group 300979 ¥31.10 ¥54.71 +76%
PUMA SE PUM €29.31 €10.57 -64%
Steven Madden, Ltd SHOO $43.26 $11.69 -73%

Compare Desa Deri Sanayi ve Ticaret A.S. with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

Explore undervalued stocks

More undervalued Consumer Cyclical stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks

Frequently asked questions

Is Desa Deri Sanayi ve Ticaret A.S. (DESA) overvalued or undervalued?
As of Aug 6, 2026, our model estimates a fair value of 26.06 TRY versus a price of 9.62 TRY, about +171% (undervalued).
What is the fair value of DESA?
Our model-based fair value for Desa Deri Sanayi ve Ticaret A.S. is 26.06 TRY (as of Aug 6, 2026), built from audited fundamentals. The current price is 9.62 TRY.
What is the quality score of DESA?
Desa Deri Sanayi ve Ticaret A.S. has a Quality Score of 60/100. 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 revenue of Desa Deri Sanayi ve Ticaret A.S. (DESA)?
Desa Deri Sanayi ve Ticaret A.S. reported trailing-twelve-month revenue of about 3.8B TRY (latest available figure, as of Aug 6, 2026).
What is the net profit margin of DESA?
The net profit margin of Desa Deri Sanayi ve Ticaret A.S. is about 14.1%, meaning it keeps roughly 14.1% 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.

14 days Pro free · no card

Track Desa Deri Sanayi ve Ticaret A.S. and try Pro for 14 days

One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.

Zero risk: nothing is ever charged. After 14 days you decide whether to stay.