Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (GOLTS) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS stock TRY 174, price TRY 227, that is 23.2% below the price, quality 40 out of 100. Rating: overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range 30.78 TRY – 569.70 TRY · fair‑value band 131.38 TRY – 218.58 TRY · the 226.50 TRY price screens above the 173.86 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Göltas Göller Bölgesi Cimento Sanayi ve Ticaret A.S. produces and sells clinker, cement, and ready mixed concrete in Turkey. The company operates through two segments: Construction and Construction Materials, and Energy.
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It offers masonry, hydraulic, blended hydraulic, and Portland cement, and Portland cement clinkers. It also provides raw materials and semi-finished products, including gypsum, trass, limestone, marn, iron ore, and bauxite; and Portland cement clinker, as well as SR 5 clinker products.
The company also exports its products to various countries. Göltas Göller Bölgesi Cimento Sanayi ve Ticaret A.S. was founded in 1969 and is headquartered in Istanbul, Turkey.
Stock analysis
Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (GOLTS) currently trades at 226.50 TRY, while our model-based Fair Value estimate is 173.86 TRY, 23% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 364.63 TRY per share, and 10 of the 24 models we run sit above the 226.50 TRY price.
Bear case: the Dividend Discount group reads lowest at 54.75 TRY, and 14 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 131.38 TRY (bear) to 218.58 TRY (bull), the price of 226.50 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 40/100 (below-average quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS reported revenue of 6.8B TRY in FY2025 versus 948M TRY in FY2021, a compound +63.6%/yr. Reported net income was 370M TRY in FY2025.
Key figures
Market cap 4.1B TRY (≈ $81.3M) Micro · P/E ratio 16.8 · P/S ratio 0.92 · EPS (TTM) 13.48 TRY · Net margin 5.5% · Return on equity 5.4% · Return on assets (EBIT) 10.1% (5-year average) · Operating margin −4.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).
What moves the price
The share trades about 41% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −21% fair-value upside, at −23%, GOLTS screens richer than that median.
Fair Value models
Bear131.38 TRYFair Value 173.86 TRYBull218.58 TRY
Price 226.50 TRY · Downside -23.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (11.49 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.79/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−9.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+33.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+59.1%
Start year 2020 (pandemic). Over 10 years: +33.7% a year
Revenue growth 20 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+20.9%
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What shareholders gained per year (last 5 years), in TRY ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in TRY: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+82.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+82.3%
Dividend (yield on the price)0.0%
Profit margin 2019 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.23% → 7%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+21.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Turkey: IMF forecast 19.3% a year to 2030, 28.5% from 2016 to 2025) that is about +1.6% a year for the price.
Compare Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS 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 · 257 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score40 · Bottom 25%
Fair Value upside−23.2% · Below median
Profitability
Return on equity (12 months)5.4% · Above median
Return on assets2.7% · Above median
Net margin (12 months)8.4% · Above median
Operating margin (12 months)−4.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)22.1% · Top 25%
Dividend yield (12 months)0.0% · Bottom 25%
Balance sheet
Debt / equity0.04× · Below median
Valuation Multiplesvs Building Materials median · lower = cheaper
P/E (12 months)16.8× · Cheaper than median
P/B0.41× · Cheapest 25%
P/S (12 months)0.57× · Cheapest 25%
Price / free cash flow (fiscal year)11.1× · Cheaper than median
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). "Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS Fair Value". https://www.fairvalue-calculator.com/stock/GOLTS
Frequently asked questions
Is Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (GOLTS) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 173.86 TRY versus a price of 226.50 TRY, about 23% lower (overvalued).
What is the fair value of GOLTS?
Our model-based fair value for Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS is 173.86 TRY (as of Nov 3, 2026), built from audited fundamentals. The current price: 226.50 TRY.
What is the quality score of GOLTS?
Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS has a Quality Score of 40/100. 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 Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (GOLTS)?
Our model-based price target is the fair value of 173.86 TRY (as of Nov 3, 2026) from 24 valuation models. Cautious scenario 131.38 TRY, optimistic scenario 218.58 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS stock forecast for 2026?
Our models put fair value at 173.86 TRY, about 23% lower versus a price of 226.50 TRY (overvalued). Cautious scenario 131.38 TRY, optimistic scenario 218.58 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (GOLTS)?
Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS reported trailing-twelve-month revenue of about 7.2B TRY (latest available figure, as of Nov 3, 2026).
What growth is priced into Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (GOLTS)?
For today's price to be fair in a discounted-cash-flow model, Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS would have to grow free cash flow by +21.2 % per year for five years (discount rate 17.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +59.1 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of GOLTS use?
Our models discount Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS at 17.2 %: a base by market capitalisation (micro), country premium for Turkey. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS that is +21.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (17.2 %) and the same formula as our fair value.
How much growth has Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (GOLTS) delivered so far?
Over the past 5 years revenue at Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS grew +59.1 % a year. The price currently implies free-cash-flow growth of +21.2 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (GOLTS) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (+21.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (GOLTS)?
The free-cash-flow yield on the price is 9.01 %: that much free cash flow Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS produces per unit of market value. When it exceeds the discount rate of our models (17.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (GOLTS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS it is 173.86 TRY per share (as of Nov 3, 2026), against a price of 226.50 TRY. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS stock overvalued or undervalued in 2026?
As of Nov 3, 2026, GOLTS trades above its calculated fair value: price 226.50 TRY, fair value 173.86 TRY, a gap of about −23% (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 GOLTS?
No. The price is what the market pays today (226.50 TRY); the fair value is what the company's own numbers justify (173.86 TRY). For Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS the two are 52.64 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS worth?
The market values Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS at about 4.1B TRY (market capitalisation, as of Nov 3, 2026). Per share that is 226.50 TRY; our models calculate a fair value of 173.86 TRY per share.
What do the bullish and bearish scenarios say about GOLTS?
Our models span a range for Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS: cautious scenario 131.38 TRY, base 173.86 TRY, optimistic 218.58 TRY per share (as of Nov 3, 2026, price 226.50 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GOLTS?
Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS trades at a price-to-earnings ratio of 16.8 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 173.86 TRY is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2018 to 2025), reported earnings: 12.9. Other multiples: P/B 0.4, P/S 0.6, EV/EBITDA 5.6.
How solid is the balance sheet of Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (GOLTS)?
Balance-sheet figures for Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (as of Nov 3, 2026): return on equity 5.4%, debt of 0.04 per unit of equity. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is GOLTS from its 52-week high?
Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS trades at 226.50 TRY, about 41% below its 52-week high of 387.04 TRY and 10% above the low of 205.90 TRY (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 173.86 TRY is for.
Which stocks are comparable to Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Martin Marietta Materials, Inc, Vulcan Materials Company, 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 Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS stock attractive at the current price?
The data as of Nov 3, 2026: price 226.50 TRY, calculated fair value 173.86 TRY (−23%), Quality Score 40/100, from 24 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 GOLTS calculated?
We run Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS through 24 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 173.86 TRY builds on their evidence-weighted average, 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 12.7% above its aggregate fair value. Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS 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 Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (GOLTS)?
The closing price on Nov 6, 2026 was 226.50 TRY. Our model-based fair value is 173.86 TRY, about 23% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS right now?
The price sits above even our optimistic bull case (218.58 TRY). The favourable scenario is already priced in. Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts.
Key figures of Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS
How large is the market capitalisation of Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (GOLTS)?
The market capitalisation of Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS is 4.1B TRY (≈ $81.3M). 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 Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (GOLTS)?
The price-to-sales ratio of Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS is 0.92 (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 Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (GOLTS)?
Earnings per share at Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS are 13.48 TRY (price ÷ EPS = P/E 16.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (GOLTS)?
The net margin of Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS is 5.5% (fiscal year 2025). 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 Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (GOLTS)?
The return on equity (ROE) of Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS is 5.4% (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 Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (GOLTS)?
On an EBIT basis the return on assets of Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS is 10.1% (avg 5y). 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 Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (GOLTS)?
The operating margin of Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS is −4.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (GOLTS)?
Revenue at Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS is growing +22.1% versus a year earlier (3y avg +33.7%). 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 Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (GOLTS)?
Earnings per share at Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS are growing +12.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS (GOLTS) carry?
The net debt of Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS is 2.0B TRY (fiscal year 2025, ≈ 5.3 yrs of FCF). 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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Nov 3, 2026