Formul Plastik ve Metal Sanayi (FRMPL) fair value: what the stock is really worth
As of Sep 22, 2026: fair value of Formul Plastik ve Metal Sanayi TRY 16.98, price TRY 25.08, upside -32.3%, quality 58 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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.
Stock analysis
Formul Plastik ve Metal Sanayi (FRMPL) currently trades at 25.08 TRY, while our model-based Fair Value estimate is 16.98 TRY, implying the stock looks roughly 47.7% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 16.98 TRY per share, and 4 of the 11 models we run sit above the 25.08 TRY price.
Bear case: the Earnings-Based group reads lowest at 8.30 TRY, and 7 of the 11 models stay below the price. Evidence for this calculation is low.
Scenario range: 12.74 TRY (bear) to 21.23 TRY (bull), the price of 25.08 TRY sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 58/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue growth is weak, negative or inconsistent.
Formul Plastik ve Metal Sanayi 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.
Key figures
Market cap 5.7B TRY (≈ $116M) · P/E ratio 20.9 · P/S ratio 0.94 · EPS (TTM) 1.20 TRY · Net margin 4.5% · Return on equity 7.0% · Return on assets (EBIT) 21.5% · Operating margin 18.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The share trades about 55% below its 52-week high, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −52% fair-value upside, at −32%, FRMPL screens cheaper than that median.
Fair Value models
Bear 12.74 TRYFair Value 16.98 TRYBull 21.23 TRY
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2024 figures (about 12 months old). Earnings retained since then (1.20 TRY per share) are deliberately not added.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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.20/100
Revenue growth is weak, negative or inconsistent.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: only 3 usable fiscal years, at least 4 required
Compare Formul Plastik ve Metal Sanayi with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Building Materials · 254 stocks
Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside−47% · Bottom 25%
Profitability
Return on equity (TTM)7% · Above median
Return on assets10% · Top 25%
Net margin (TTM)5% · Above median
Operating margin (TTM)18% · Top 25%
Growth and dividend
Revenue growth−16% · Bottom 25%
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Building Materials median · lower = cheaper
P/E (TTM)20.9× · Pricier than median
P/B2.62× · Priciest 25%
P/S (TTM)1.72× · Priciest 25%
EV/EBITDA7.5× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 25
FUTURE (revenue growth)0· sector 2
PAST (return on equity)28· sector 15
HEALTH (low debt)100· sector 92
DIVIDEND (yield)0· sector 46
VALUE 0: the price sits above our fair-value range.
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.
Cite: Fair Value Calculator (2026). "Formul Plastik ve Metal Sanayi Fair Value". https://www.fairvalue-calculator.com/stock/FRMPL
Frequently asked questions
Is Formul Plastik ve Metal Sanayi (FRMPL) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of 16.98 TRY versus a price of 25.08 TRY, about −32% upside (overvalued).
What is the fair value of FRMPL?
Our model-based fair value for Formul Plastik ve Metal Sanayi is 16.98 TRY (as of Sep 13, 2026), built from audited fundamentals. The current price: 25.08 TRY.
What is the quality score of FRMPL?
Formul Plastik ve Metal Sanayi has a Quality Score of 58/100. 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 price target for Formul Plastik ve Metal Sanayi (FRMPL)?
Our model-based price target is the fair value of 16.98 TRY (as of Sep 13, 2026) from 11 valuation models. Cautious scenario 12.74 TRY, optimistic scenario 21.23 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Formul Plastik ve Metal Sanayi stock forecast for 2026?
Our models put fair value at 16.98 TRY, about −32% upside versus a price of 25.08 TRY (overvalued). Cautious scenario 12.74 TRY, optimistic scenario 21.23 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Formul Plastik ve Metal Sanayi (FRMPL)?
Formul Plastik ve Metal Sanayi reported trailing-twelve-month revenue of about 3.3B TRY (latest available figure, as of Sep 13, 2026).
What is the intrinsic value of Formul Plastik ve Metal Sanayi (FRMPL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Formul Plastik ve Metal Sanayi it is 16.98 TRY per share (as of Sep 13, 2026), against a price of 25.08 TRY. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is Formul Plastik ve Metal Sanayi stock overvalued or undervalued in 2026?
As of Sep 13, 2026, FRMPL trades above its calculated fair value: price 25.08 TRY, fair value 16.98 TRY, a gap of about −32% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of FRMPL?
No. The price is what the market pays today (25.08 TRY); the fair value is what the company's own numbers justify (16.98 TRY). For Formul Plastik ve Metal Sanayi the two are 8.10 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Formul Plastik ve Metal Sanayi worth?
The market values Formul Plastik ve Metal Sanayi at about 5.7B TRY (market capitalisation, as of Sep 13, 2026). Per share that is 25.08 TRY; our models calculate a fair value of 16.98 TRY per share.
What do the bullish and bearish scenarios say about FRMPL?
Our models span a range for Formul Plastik ve Metal Sanayi: cautious scenario 12.74 TRY, base 16.98 TRY, optimistic 21.23 TRY per share (as of Sep 13, 2026, price 25.08 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FRMPL?
Formul Plastik ve Metal Sanayi trades at a price-to-earnings ratio of 20.9 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 16.98 TRY is built from several models across several years. Other multiples: P/B 2.6, P/S 1.7, EV/EBITDA 7.5.
How solid is the balance sheet of Formul Plastik ve Metal Sanayi (FRMPL)?
Balance-sheet figures for Formul Plastik ve Metal Sanayi (as of Sep 13, 2026): return on equity 7.0%, debt of 0.01 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is FRMPL from its 52-week high?
Formul Plastik ve Metal Sanayi trades at 25.08 TRY, about 55% below its 52-week high of 55.65 TRY (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of 16.98 TRY is for.
Which stocks are comparable to Formul Plastik ve Metal Sanayi?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Vulcan Materials Company, UltraTech Cement Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Formul Plastik ve Metal Sanayi stock attractive at the current price?
The data as of Sep 13, 2026: price 25.08 TRY, calculated fair value 16.98 TRY (−32%), Quality Score 58/100, from 11 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of FRMPL calculated?
We run Formul Plastik ve Metal Sanayi through 11 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 16.98 TRY, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 16.0 % above its aggregate fair value. Formul Plastik ve Metal Sanayi itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Formul Plastik ve Metal Sanayi (FRMPL)?
The closing price on Sep 22, 2026 was 25.08 TRY. Our model-based fair value is 16.98 TRY, about −32% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Formul Plastik ve Metal Sanayi right now?
The price sits above even our optimistic bull case (21.23 TRY). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Formul Plastik ve Metal Sanayi
How large is the market capitalisation of Formul Plastik ve Metal Sanayi (FRMPL)?
The market capitalisation of Formul Plastik ve Metal Sanayi is 5.7B TRY (≈ $116M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Formul Plastik ve Metal Sanayi (FRMPL)?
The price-to-sales ratio of Formul Plastik ve Metal Sanayi is 0.94 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Formul Plastik ve Metal Sanayi (FRMPL)?
Earnings per share at Formul Plastik ve Metal Sanayi are 1.20 TRY (price ÷ EPS = P/E 20.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Formul Plastik ve Metal Sanayi (FRMPL)?
The net margin of Formul Plastik ve Metal Sanayi is 4.5% (fiscal year 2024). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Formul Plastik ve Metal Sanayi (FRMPL)?
The return on equity (ROE) of Formul Plastik ve Metal Sanayi is 7.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Formul Plastik ve Metal Sanayi (FRMPL)?
On an EBIT basis the return on assets of Formul Plastik ve Metal Sanayi is 21.5% (avg 3y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Formul Plastik ve Metal Sanayi (FRMPL)?
The operating margin of Formul Plastik ve Metal Sanayi is 18.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Formul Plastik ve Metal Sanayi (FRMPL)?
Revenue at Formul Plastik ve Metal Sanayi is growing −16.2% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Formul Plastik ve Metal Sanayi (FRMPL)?
Earnings per share at Formul Plastik ve Metal Sanayi are growing −43.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Formul Plastik ve Metal Sanayi (FRMPL) generate?
The free cash flow of Formul Plastik ve Metal Sanayi is −31.3K TRY (fiscal year 2024). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Formul Plastik ve Metal Sanayi (FRMPL) carry?
The net debt of Formul Plastik ve Metal Sanayi is 736M TRY (fiscal year 2024). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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