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Erbosan Erciyas Boru Sanayii ve Ticaret A.S. (ERBOS) Fair Value & Analysis

Industrials · TR · Market cap 3.1B TRY

EE Erbosan Erciyas Boru Sanayii ve Ticaret A.S. ERBOS · IS
Price155.50 TRY
Fair Value248.80 TRY
Upside+60.0%
Quality42/100
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Mixed Growth
Loss-making · -0.3% net margin
Low debt · generates free cash flow
1.74% dividend yield
Mixed vs. peers (6/11)
Narrow moat 19/100
Evidence: Medium Range 166.85 TRY – 330.77 TRY Share as image

Fair value as of: Aug 8, 2026

From 13 valuation models · updated yesterday

Share price −8.5% over the past month.

Below-average quality, screening 60% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (166.85 TRY). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (166.85 TRY to 330.77 TRY) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

304.94 TRY 69.08 TRY Fair Value 248.80 TRY Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 8, 2026.

How to read this chart

60‑month range 69.08 TRY – 304.94 TRY · fair‑value band 166.85 TRY – 330.77 TRY · the 155.50 TRY price screens below the 248.80 TRY fair value. Dashed = 300-day average. As of Aug 8, 2026.

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Analysis

Erbosan Erciyas Boru Sanayii ve Ticaret A.S. (ERBOS) currently trades at 155.50 TRY, while our model-based Fair Value estimate is 248.80 TRY, implying the stock looks roughly 60.0% undervalued today. The Quality Score stands at 42/100 (below-average quality), in the Industrials 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: medium), always confirm before acting.

Over the trailing twelve months, Erbosan Erciyas Boru Sanayii ve Ticaret A.S. generated revenue of 5.5B TRY at a net margin of -0.3%. Revenue declined 6.1% year over year. It earns a return on equity of -0.5%. Net debt stands at 359M TRY. Fundamentals as of Aug 8, 2026

Our scenario range runs from 166.85 TRY (bear case) to 330.77 TRY (bull case); at 155.50 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 30% below its 52-week high and 3% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -72% fair-value upside, at 60%, ERBOS 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 238.88 TRY 409.70 TRY 744.01 TRY 80
Rev-Margin DCF 205.80 TRY 370.26 TRY 685.89 TRY 74
ROIC Compounder 131.38 TRY 148.22 TRY 162.75 TRY 72
All 13 models by family
DCF Models
FCF DCF 252.76 TRY 375.82 TRY 759.48 TRY 38
5Y Revenue Exit 201.37 TRY 326.78 TRY 588.96 TRY 39
5Y EBITDA Exit 205.95 TRY 336.06 TRY 590.82 TRY 41
10Y Revenue Exit 213.41 TRY 429.16 TRY 563.48 TRY 36
10Y EBITDA Exit 222.79 TRY 438.81 TRY 806.92 TRY 37
Earnings-Based
EPV 131.38 TRY 148.22 TRY 162.75 TRY 59
Multiples
EV/EBIT 233.73 TRY 303.39 TRY 373.06 TRY 53
EV/EBITDA 181.89 TRY 234.27 TRY 286.66 TRY 54
EV/Revenue 165.61 TRY 225.99 TRY 286.37 TRY 43
Asset-Based
NCAV (Graham) 87.80 TRY 117.65 TRY 175.59 TRY 50
Growth DCF
Growth DCF 238.88 TRY 409.70 TRY 744.01 TRY 80
Rev-Margin DCF 205.80 TRY 370.26 TRY 685.89 TRY 74
Economic Profit
ROIC Compounder 131.38 TRY 148.22 TRY 162.75 TRY 72

Widest divergence: DCF Models (375.82 TRY) versus Asset-Based (117.65 TRY). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 5.5B TRY
Revenue growth (YoY) -6.1%
Net margin -0.3%
Return on equity -0.5%
Free cash flow 287M TRY FY2025
Operating margin 3.1%
More key figures
EPS (TTM) -0.7600 TRY
Dividend yield 1.7%
EPS growth (YoY) -79.7%
Net debt 359M TRY FY2025

Figures from reported company fundamentals · as of Aug 8, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 42/100

Of which business quality 50 · Market factors (momentum, volatility) 33

Profitability 26
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 77
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 12
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

Erbosan Erciyas Boru Sanayii ve Ticaret A.S. produces and sells carbon steel tubes and pipes in Turkey. It offers welded steel black and galvanized water and gas pipes for use in building heating, mechanical installations, and plumbing and ventilation systems; gas and line pipes used in LPG installation, and boiler tubes for drilling lines, as well as …

Full company description

Erbosan Erciyas Boru Sanayii ve Ticaret A.S. produces and sells carbon steel tubes and pipes in Turkey. It offers welded steel black and galvanized water and gas pipes for use in building heating, mechanical installations, and plumbing and ventilation systems; gas and line pipes used in LPG installation, and boiler tubes for drilling lines, as well as natural gas, petroleum, and gas line projects; and sprinkler pipes that are used for sprinkler systems and fire protection. The company also provides industrial tubes and hollow sections for use in automotive, home appliances, furniture, greenhouse, construction, and transportation industries, as well as fence, industry and building, textile, and solar energy systems. In addition, it offers square, rectangular hollow sections and low-pressure boiler and steam pipes. Erbosan Erciyas Boru Sanayii ve Ticaret A.S. was incorporated in 1974 and is headquartered in Kayseri, Turkey.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Erbosan Erciyas Boru Sanayii ve Ticaret A.S. reported revenue of 5.6B TRY in FY2025 versus 1.3B TRY in FY2021, a compound +44.0%/yr. Reported net income was −130M TRY in FY2025.

Growth Quality 56/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
5.6B TRY
Latest YoY
−5.5%
Avg. growth/yr (3Y)
+31.5%
Avg. growth/yr (5Y)
+57.7%
Avg. growth/yr (20Y)
+22.6%
Revenue +44.0%/yr
FY21 1.3B TRY
FY22 2.5B TRY
FY23 5.5B TRY
FY24 5.9B TRY
FY25 5.6B TRY
Net income
FY21 196M TRY
FY22 366M TRY
FY23 −215M TRY
FY24 −289M TRY
FY25 −130M TRY

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Cite: Fair Value Calculator (2026). "Erbosan Erciyas Boru Sanayii ve Ticaret A.S. Fair Value". https://www.fairvalue-calculator.com/stock/ERBOS

Peer Group

Metal Fabrication · 243 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 42 · Below median
Fair Value upside +60% · Top 25%
Return on assets 4% · Above median
Net margin (TTM) -0% · Below median
Operating margin (TTM) 3% · Below median
Revenue growth -6% · Bottom 25%
Dividend yield (TTM) 1.7% · Above median

Valuation Multiples vs Metal Fabrication median · lower = cheaper

P/S (TTM) 0.01× · Cheaper than 75% of peers
P/FCF 0.2× · 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 0
FUTURE 0 · sector 35
PAST 0 · sector 21
HEALTH 100 · sector 95
DIVIDEND 35 · sector 25

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 Metal Fabrication stocks, each showing price versus our Fair Value estimate (as of Aug 8, 2026).

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Frequently asked questions

Is Erbosan Erciyas Boru Sanayii ve Ticaret A.S. (ERBOS) overvalued or undervalued?
As of Aug 8, 2026, our model estimates a fair value of 248.80 TRY versus a price of 155.50 TRY, about +60% (undervalued).
What is the fair value of ERBOS?
Our model-based fair value for Erbosan Erciyas Boru Sanayii ve Ticaret A.S. is 248.80 TRY (as of Aug 8, 2026), built from audited fundamentals. The current price is 155.50 TRY.
What is the quality score of ERBOS?
Erbosan Erciyas Boru Sanayii ve Ticaret A.S. has a Quality Score of 42/100. 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 Erbosan Erciyas Boru Sanayii ve Ticaret A.S. (ERBOS)?
Erbosan Erciyas Boru Sanayii ve Ticaret A.S. reported trailing-twelve-month revenue of about 5.5B TRY (latest available figure, as of Aug 8, 2026).
What is the net profit margin of ERBOS?
The net profit margin of Erbosan Erciyas Boru Sanayii ve Ticaret A.S. is about -0.3%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Erbosan Erciyas Boru Sanayii ve Ticaret A.S. pay a dividend?
Erbosan Erciyas Boru Sanayii ve Ticaret A.S. currently shows a dividend yield of about 1.74% relative to its recent price (as of Aug 8, 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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