Formul Plastik A.S. (FRMPL) Fair Value & Analysis
Basic Materials · TR · Market cap 5.7B TRY
Fair value as of: Aug 8, 2026
From 11 valuation models · updated yesterday
Share price +8.2% over the past month.
Below-average quality, and screening another 45% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (21.80 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.
Price vs Fair Value (7 months)
White line = price, green steps = our fair value per fiscal year. As of Aug 8, 2026.
How to read this chart
7‑month range 28.44 TRY – 53.20 TRY · fair‑value band 14.98 TRY – 21.80 TRY · the 35.76 TRY price screens above the 19.79 TRY fair value. As of Aug 8, 2026.
Analysis
Formul Plastik A.S. (FRMPL) currently trades at 35.76 TRY, while our model-based Fair Value estimate is 19.79 TRY, implying the stock looks roughly 44.7% overvalued today. The Quality Score stands at 47/100 (below-average quality), in the Basic Materials 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: medium).
Over the trailing twelve months, Formul Plastik A.S. generated revenue of 3.3B TRY at a net margin of 4.6%. Revenue declined 16.2% year over year. It earns a return on equity of 7.0%. Net debt stands at 736M TRY. Fundamentals as of Aug 8, 2026
Our scenario range runs from 14.98 TRY (bear case) to 21.80 TRY (bull case); at 35.76 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 36% below its 52-week high and 30% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -59% fair-value upside, at -45%, FRMPL 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.
All 11 models by family
Widest divergence: Multiples (19.98 TRY) versus Earnings-Based (8.30 TRY). Highest evidence: ROIC Compounder (72).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 8, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 26
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
Formul Plastik A.S. designs, manufactures, and sells pipes and fittings in Turkey and internationally. The company offers PP-R pipes and fittings, PPRCT pipes, PVC pipes and fittings, silent PP pipes and fittings, PE-RT pipes, and accessories, as well as brass inserts and fittings. Formul Plastik A.S. was founded in 1990 and is based in Istanbul, Turkey.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2024 · reported fiscal years
Formul Plastik A.S. reported revenue of 3.5B TRY in FY2024 versus 3.9B TRY in FY2022, a compound −5.2%/yr. Reported net income was 160M TRY in FY2024, compounding −26.6%/yr from FY2022.
FRMPL screens 45% overvalued. Compare with CRH plc →
Peer Group
Building Materials · 255 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.
Valuation Multiples vs Building Materials median · lower = cheaper
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: 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.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Building Materials stocks, each showing price versus our Fair Value estimate (as of Aug 8, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| CRH plc CRH | $102.92 | $70.57 | -31% |
| UltraTech Cement Limited ULTRACEMCO | ₹11,711 | ₹4,719 | -60% |
| China Jushi Co 600176 | ¥54.52 | ¥13.95 | -74% |
| Grasim Industries Limited GRASIM | ₹3,073 | ₹1,245 | -59% |
| CEMEX, S.A. CEMEXCPO | 21.71 MXN | 15.42 MXN | -29% |
| Anhui Conch Cement Company 600585 | ¥16.99 | ¥26.14 | +54% |
| Ambuja Cements Limited AMBUJACEM | ₹435.25 | ₹227.96 | -48% |
| Shree Cement Limited SHREECEM | ₹26,930 | ₹8,215 | -69% |
| TCC Group 1101B | 43.70 TWD | 10.48 TWD | -76% |
| Taiwan Glass Ind. Corp 1802 | 53.30 TWD | 13.98 TWD | -74% |
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Frequently asked questions
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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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