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ECILC Fair Value & Analysis

Healthcare · TR · Market cap 47.2B TRY

E ECILC ECILC · IS
Price70.50 TRY
Fair Value51.82 TRY
Upside-26.5%
Quality47/100
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Mixed Growth
Loss-making · -8.6% net margin
Low debt · generates free cash flow
2.13% dividend yield
Trails peers (4/11)
Narrow moat 14/100
Evidence: High Range 38.86 TRY – 64.77 TRY Share as image

Fair value as of: Aug 7, 2026

From 21 valuation models · updated yesterday

Share price −7.5% over the past month.

Below-average quality, and screening another 27% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (64.77 TRY). The favourable scenario is already priced in.
  • Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

128.62 TRY 5.03 TRY Fair Value 51.82 TRY Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 7, 2026.

How to read this chart

60‑month range 5.03 TRY – 128.62 TRY · fair‑value band 38.86 TRY – 64.77 TRY · the 70.50 TRY price screens above the 51.82 TRY fair value. Dashed = 300-day average. As of Aug 7, 2026.

Full chart & analysis →

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Analysis

ECILC (ECILC) currently trades at 70.50 TRY, while our model-based Fair Value estimate is 51.82 TRY, implying the stock looks roughly 26.5% overvalued today. We read business quality at 47/100 (below-average quality), in the Healthcare 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: high).

Over the trailing twelve months, ECILC generated revenue of 9.8B TRY at a net margin of -8.6%. Revenue declined 1.3% year over year. It earns a return on equity of -1.5%. Net debt stands at 948M TRY. Fundamentals as of Aug 7, 2026

Our scenario range runs from 38.86 TRY (bear case) to 64.77 TRY (bull case); at 70.50 TRY, the current price sits above 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 46% below its 52-week high and 46% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -49% fair-value upside, at -27%, ECILC 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 28.34 TRY 53.09 TRY 93.66 TRY 80
Residual Income 65.29 TRY 63.86 TRY 55.41 TRY 76
Rev-Margin DCF 23.01 TRY 37.76 TRY 58.75 TRY 74
All 21 models by family
DCF Models
FCF DCF 29.11 TRY 48.28 TRY 98.18 TRY 38
Owner Earnings 62.95 TRY 126.75 TRY 252.62 TRY 31
5Y Revenue Exit 23.01 TRY 38.27 TRY 60.28 TRY 39
5Y EBITDA Exit 12.41 TRY 14.34 TRY 16.18 TRY 41
5Y P/E Exit 43.25 TRY 84.15 TRY 135.21 TRY 38
10Y Revenue Exit 24.22 TRY 40.23 TRY 65.60 TRY 36
10Y EBITDA Exit 17.48 TRY 21.66 TRY 26.95 TRY 37
10Y P/E Exit 38.75 TRY 75.67 TRY 136.25 TRY 35
Earnings-Based
Graham-Dodd 20.73 TRY 128.10 TRY 178.79 TRY 54
Lynch FV 36.78 TRY 52.55 TRY 68.31 TRY 50
PEG = 1.0 36.78 TRY 52.55 TRY 68.31 TRY 46
Multiples
P/E Multiple 45.72 TRY 60.96 TRY 76.20 TRY 63
P/S Multiple 27.01 TRY 36.01 TRY 45.02 TRY 58
P/B Multiple 38.86 TRY 51.82 TRY 64.77 TRY 55
EV/EBITDA 5.45 TRY 5.50 TRY 5.56 TRY 54
EV/Revenue 20.06 TRY 26.39 TRY 32.72 TRY 43
Asset-Based
NCAV (Graham) 44.54 TRY 59.68 TRY 89.08 TRY 50
Growth DCF
Growth DCF 28.34 TRY 53.09 TRY 93.66 TRY 80
Rev-Margin DCF 23.01 TRY 37.76 TRY 58.75 TRY 74
Economic Profit
Residual Income 65.29 TRY 63.86 TRY 55.41 TRY 76
Growth Earnings
Growth-Adj P/E 51.65 TRY 73.78 TRY 95.92 TRY 68

Widest divergence: Growth Earnings (73.78 TRY) versus Multiples (36.01 TRY). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 9.8B TRY
Revenue growth (YoY) -1.3%
Net margin -8.6%
Return on equity -1.5%
Free cash flow 1.1B TRY FY2025
Operating margin -11.1%
More key figures
EPS (TTM) -1.24 TRY
Dividend yield 2.1%
EPS growth (YoY) -51.2%
Net debt 948M TRY FY2024

Figures from reported company fundamentals · as of Aug 7, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 53 · Market factors (momentum, volatility) 47

Profitability 30
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 55
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 56
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.

About the company

EIS Eczacibasi Ilaç, Sinai ve Finansal Yatirimlar Sanayi ve Ticaret A.S., together with subsidiaries, engages in health and real estate development businesses in Turkey and internationally. The Health segment is involved in the production, marketing, and sale of medicines related to human health and veterinary medicines.

Full company description

EIS Eczacibasi Ilaç, Sinai ve Finansal Yatirimlar Sanayi ve Ticaret A.S., together with subsidiaries, engages in health and real estate development businesses in Turkey and internationally. The Health segment is involved in the production, marketing, and sale of medicines related to human health and veterinary medicines. The Real Estate Development segment engages in development of real estate properties; rental activities for serum facilities; and providing consulting services on land development and project management. The company was incorporated in 1951 and is based in Istanbul, Turkey. EIS Eczacibasi Ilaç, Sinai ve Finansal Yatirimlar Sanayi ve Ticaret A.S. is a subsidiary of Eczacibasi Holding A.S.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ECILC reported revenue of 9.9B TRL in FY2025 versus 1.1B TRL in FY2021, a compound +72.9%/yr. Reported net income was 2.1B TRL in FY2025, compounding +29.0%/yr from FY2021.

Growth Quality 75/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
9.9B TRY
Latest YoY
−14.0%
Avg. growth/yr (3Y)
+75.4%
Avg. growth/yr (5Y)
+61.1%
Avg. growth/yr (25Y)
−31.0%
Revenue +72.9%/yr
FY21 1.1B TRL
FY22 1.8B TRL
FY23 9.4B TRL
FY24 11.5B TRL
FY25 9.9B TRL
Net income +29.0%/yr
FY21 755M TRL
FY22 4.2B TRL
FY23 4.0B TRL
FY24 1.3B TRL
FY25 2.1B TRL

ECILC screens 27% overvalued. Compare with Jiangsu Hengrui Pharmaceuticals Co →

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

Peer Group

Drug Manufacturers - Specialty & Generic · 626 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 47 · Below median
Fair Value upside −27% · Below median
Return on assets -1% · Below median
Net margin (TTM) -9% · Bottom 25%
Operating margin (TTM) -11% · Bottom 25%
Revenue growth -1% · Below median
Dividend yield (TTM) 2.1% · Above median
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/S (TTM) 0.10× · Cheaper than 75% of peers
P/FCF 0.9× · Cheaper 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 0 · sector 7
FUTURE 0 · sector 20
PAST 0 · sector 23
HEALTH 99 · sector 97
DIVIDEND 43 · sector 35

VALUE 0: the price sits above our fair-value range.

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 Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Aug 7, 2026).

Stock Price Fair Value vs Fair Value
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥53.19 ¥25.94 -51%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,933 ₹989.50 -49%
Divi's Laboratories Limited DIVISLAB ₹7,316 ₹1,943 -73%
Torrent Pharmaceuticals Limited TORNTPHARM ₹4,763 ₹1,329 -72%
PharmaEssentia Corporation 6446 1,285 TWD 221.01 TWD -83%
Cipla Limited CIPLA ₹1,439 ₹1,001 -30%
Zydus Lifesciences Limited ZYDUSLIFE ₹1,151 ₹703.32 -39%
Lupin Limited LUPIN ₹2,443 ₹2,477 +1%
Mankind Pharma Limited MANKIND ₹2,484 ₹983.11 -60%
Dr. Reddy's Laboratories Limited DRREDDY ₹1,211 ₹874.79 -28%

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Frequently asked questions

Is ECILC overvalued or undervalued?
As of Aug 7, 2026, our model estimates a fair value of 51.82 TRY versus a price of 70.50 TRY, about −27% (overvalued).
What is the fair value of ECILC?
Our model-based fair value for ECILC is 51.82 TRY (as of Aug 7, 2026), built from audited fundamentals. The current price is 70.50 TRY.
What is the quality score of ECILC?
ECILC has a Quality Score of 47/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of ECILC?
ECILC reported trailing-twelve-month revenue of about 9.8B TRY (latest available figure, as of Aug 7, 2026).
What is the net profit margin of ECILC?
The net profit margin of ECILC is about -8.6%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does ECILC pay a dividend?
ECILC currently shows a dividend yield of about 2.13% relative to its recent price (as of Aug 7, 2026).

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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