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Gersan Elektrik Ticaret ve Sanayi Anonim Sirketi, (GEREL) Fair Value & Analysis

Industrials · TR · Market cap 16.5B TRY

GE Gersan Elektrik Ticaret ve Sanayi Anonim Sirketi, GEREL · IS
Price44.24 TRY
Fair Value3.85 TRY
Upside-91.3%
Quality41/100
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Expensive Growth
Solidly profitable · 15.0% net margin
Low debt · negative free cash flow
Mixed vs. peers (6/12)
Moderate moat 52/100
Evidence: Medium Range 2.89 TRY – 4.82 TRY Share as image

Fair value as of: Aug 8, 2026

From 15 valuation models · updated yesterday

Share price +35.8% over the past month.

Below-average quality, and screening another 91% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (4.82 TRY). The favourable scenario is already priced in.
  • Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

46.76 TRY 1.32 TRY Fair Value 3.85 TRY May 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 1.32 TRY – 46.76 TRY · fair‑value band 2.89 TRY – 4.82 TRY · the 44.24 TRY price screens above the 3.85 TRY fair value. Dashed = 300-day average. As of Aug 8, 2026.

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Analysis

Gersan Elektrik Ticaret ve Sanayi Anonim Sirketi, (GEREL) currently trades at 44.24 TRY, while our model-based Fair Value estimate is 3.85 TRY, implying the stock looks roughly 91.3% overvalued today. The Quality Score stands at 41/100 (below-average quality), in the Industrials 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, Gersan Elektrik Ticaret ve Sanayi Anonim Sirketi, generated revenue of 2.6B TRY at a net margin of 15.0%. Revenue declined 13.9% year over year. It earns a return on equity of 15.7%. Net debt stands at 1.1B TRY. Fundamentals as of Aug 8, 2026

Our scenario range runs from 2.89 TRY (bear case) to 4.82 TRY (bull case); at 44.24 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 6% below its 52-week high and 181% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -91%, GEREL screens richer 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
ROIC Compounder 2.73 TRY 3.25 TRY 3.69 TRY 72
Growth-Adj P/E 7.64 TRY 10.91 TRY 14.19 TRY 68
P/E Multiple 4.00 TRY 5.33 TRY 6.67 TRY 63
All 15 models by family
DCF Models
Owner Earnings 1.13 TRY 3.00 TRY 6.94 TRY 31
Earnings-Based
Graham-Dodd 1.81 TRY 12.65 TRY 17.75 TRY 54
Lynch FV 5.80 TRY 8.28 TRY 10.77 TRY 50
PEG = 1.0 5.80 TRY 8.28 TRY 10.77 TRY 46
EPV 2.73 TRY 3.25 TRY 3.69 TRY 59
Multiples
P/E Multiple 4.00 TRY 5.33 TRY 6.67 TRY 63
P/S Multiple 3.40 TRY 4.53 TRY 5.67 TRY 58
P/B Multiple 3.40 TRY 4.53 TRY 5.67 TRY 55
EV/EBIT 4.50 TRY 6.12 TRY 7.73 TRY 53
EV/EBITDA 4.27 TRY 5.81 TRY 7.35 TRY 54
EV/Revenue 2.92 TRY 4.32 TRY 5.72 TRY 43
Asset-Based
NCAV (Graham) 4.36 TRY 5.85 TRY 8.73 TRY 50
Economic Profit
Residual Income 6.33 TRY 6.14 TRY 5.20 TRY 61
ROIC Compounder 2.73 TRY 3.25 TRY 3.69 TRY 72
Growth Earnings
Growth-Adj P/E 7.64 TRY 10.91 TRY 14.19 TRY 68

Widest divergence: Growth Earnings (10.91 TRY) versus DCF Models (3.00 TRY). Highest evidence: ROIC Compounder (72).

Key figures & financial health

Revenue (TTM) 2.6B TRY
Revenue growth (YoY) -13.9%
Net margin 15.0%
Return on equity 15.7%
Free cash flow −1.8B TRY FY2025
P/E ratio 31.6
More key figures
Operating margin 11.8%
EPS (TTM) 1.40 TRY
EPS growth (YoY) +157%
Net debt 1.1B TRY FY2025

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

Quality Score breakdown

Overall quality 41/100

Of which business quality 25 · Market factors (momentum, volatility) 75

Profitability 26
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 30
Disciplined investing over empire-building
Low Volatility 39
Calm price path (market factor)
Momentum 87
Price trend over the last 3–12 months (market factor)
52W Momentum 95
Distance to the 52-week high (market factor)
Net Issuance 0
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

Gersan Elektrik Ticaret ve Sanayi Anonim Sirketi, together with its subsidiaries, engages in the electrical materials and electrochemical contracting businesses in Turkey and internationally.

Full company description

Gersan Elektrik Ticaret ve Sanayi Anonim Sirketi, together with its subsidiaries, engages in the electrical materials and electrochemical contracting businesses in Turkey and internationally. The company offers power and lighting busbar systems; hot-dip galvanizing, pre-galvanized, stainless steel, and aluminum cable ducts and conveyor systems; standard cable channel and heavy-duty cable trays; and cable carriers, cable carrying systems, and cable ladder clamps. It also provides earth transition resistance value, current carrying capacity, and equipotential bond grounding systems; distribution panels, surface mounted distribution panels, rack cabinets, and solar panels; and underfloor and raised underfloor cable trays. In addition, the company offers electric vehicle charging stations; led-bus lighting systems; and g-bus automation systems, as well as after-sales services. It serves the power transmission line, defense, nuclear power plant, mechanical carrier system, building, industrial facility, factory, airport, oil and gas refinery, shopping mall, hotel, and hospital industries. The company was formerly known as Gersan Ticaret. Gersan Elektrik Ticaret ve Sanayi Anonim Sirketi was founded in 1980 and is headquartered in Istanbul, Turkey.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Gersan Elektrik Ticaret ve Sanayi Anonim Sirketi, reported revenue of 2.7B TRY in FY2025 versus 381M TRY in FY2021, a compound +63.1%/yr. Reported net income was 99.3M TRY in FY2025, compounding +94.1%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
2.7B TRY
Avg. growth/yr (3Y)
+108.2%
Avg. growth/yr (5Y)
+73.6%
Avg. growth/yr (21Y)
+31.6%
Revenue +63.1%/yr
FY21 381M TRY
FY22 839M TRY
FY23 2.1B TRY
FY24 3.4B TRY
FY25 2.7B TRY
Net income +94.1%/yr
FY21 7.0M TRY
FY22 45.0M TRY
FY23 −167M TRY
FY24 332M TRY
FY25 99.3M TRY

GEREL screens 91% overvalued. Compare with Contemporary Amperex Technology Co →

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Cite: Fair Value Calculator (2026). "Gersan Elektrik Ticaret ve Sanayi Anonim Sirketi, Fair Value". https://www.fairvalue-calculator.com/stock/GEREL

Peer Group

Electrical Equipment & Parts · 527 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 41 · Below median
Fair Value upside −91% · Bottom 25%
Return on equity (TTM) 16% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 15% · Top 25%
Operating margin (TTM) 12% · Above median
Revenue growth -14% · Bottom 25%
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

P/E (TTM) 31.6× · Cheaper than median
P/B 5.07× · Pricier than 75% of peers
P/S (TTM) 6.36× · Pricier than 75% of peers
EV/EBITDA 54.9× · Pricier 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 0 · sector 0
FUTURE 0 · sector 57
PAST 63 · sector 26
HEALTH 98 · sector 97
DIVIDEND 0 · sector 18

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 Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Aug 8, 2026).

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 3750 HK$675.50 HK$391.44 -42%
ABB Ltd ABBN CHF 83.82 CHF 35.46 -58%
Delta Electronics (Thailand) Public Company TDED 10.16 SGD 1.47 SGD -86%
LG Energy Solution, Ltd 373220 334,000 KRW 201,455 KRW -40%
WEG S.A WEGE3 13,210 ARS 7,948 ARS -40%
Sungrow Power Supply Co 300274 ¥114.79 ¥123.83 +8%
Shenzhen Inovance Technology Co 300124 ¥63.43 ¥33.04 -48%
HD Hyundai Electric Co 267260 823,000 KRW 371,133 KRW -55%
LS ELECTRIC Co 010120 190,000 KRW 31,517 KRW -83%
Sieyuan Electric Co 002028 ¥151.73 ¥71.69 -53%

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Frequently asked questions

Is Gersan Elektrik Ticaret ve Sanayi Anonim Sirketi, (GEREL) overvalued or undervalued?
As of Aug 8, 2026, our model estimates a fair value of 3.85 TRY versus a price of 44.24 TRY, about −91% (overvalued).
What is the fair value of GEREL?
Our model-based fair value for Gersan Elektrik Ticaret ve Sanayi Anonim Sirketi, is 3.85 TRY (as of Aug 8, 2026), built from audited fundamentals. The current price is 44.24 TRY.
What is the quality score of GEREL?
Gersan Elektrik Ticaret ve Sanayi Anonim Sirketi, has a Quality Score of 41/100. 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 Gersan Elektrik Ticaret ve Sanayi Anonim Sirketi, (GEREL)?
Gersan Elektrik Ticaret ve Sanayi Anonim Sirketi, reported trailing-twelve-month revenue of about 2.6B TRY (latest available figure, as of Aug 8, 2026).
What is the net profit margin of GEREL?
The net profit margin of Gersan Elektrik Ticaret ve Sanayi Anonim Sirketi, is about 15.0%, meaning it keeps roughly 15.0% 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.

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