GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (GSDDE) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS stock TRY 17.10, price TRY 10.50, upside +62.9%, quality 53 out of 100. Rating: strongly undervalued. Calculated from audited financials with 22 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 2.24 TRY – 17.40 TRY · fair‑value band 12.55 TRY – 22.63 TRY · the 10.50 TRY price screens below the 17.10 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 3, 2026.
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GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret A.S. engages in maritime sector activities. The company operates dry cargo transportation and logistics services.
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The company was formerly known as Tekstil Finansal Kiralama Anonim Sirketi and changed its name to GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret A.S. in August 2011. The company was incorporated in 1992 and is based in Istanbul, Turkey.
GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret A.S. operates as a subsidiary of GSD Holding A.S.
Stock analysis
GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (GSDDE) currently trades at 10.50 TRY, while our model-based Fair Value estimate is 17.10 TRY, implying the stock looks roughly 39% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 21.34 TRY per share, and 16 of the 22 models we run sit above the 10.50 TRY price.
Bear case: the Earnings-Based group reads lowest at 7.24 TRY, and 6 of the 22 models stay below the price. Data coverage for this calculation is low.
Scenario range: 12.55 TRY (bear) to 22.63 TRY (bull), the price of 10.50 TRY sits below 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 53/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS reported revenue of 585M TRY in FY2025 versus 179M TRY in FY2021, a compound +34.5%/yr. Reported net income was 187M TRY in FY2025, compounding +7.7%/yr from FY2021.
Key figures
Market cap 1.6B TRY (≈ $31.4M) Micro · P/E ratio 3.1 · P/S ratio 2.68 · EPS (TTM) 3.43 TRY · Net margin 91.4% · Return on equity 18.1% · Return on assets (EBIT) 6.8% (5-year average) · Operating margin 40.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 74 out of 100 (low confidence).
What moves the price
The share trades about 40% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 13% fair-value upside, at 63%, GSDDE screens cheaper than that median.
Fair Value models
Bear12.55 TRYFair Value 17.10 TRYBull22.63 TRY
Price 10.50 TRY · Upside +62.9%
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 (2.92 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−18.7%
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.
+23.6%
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.
+67.3%
Start year 2020 (pandemic). Over 10 years: +33.9% a year
Revenue growth 21 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.
+27.2%
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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.
+6.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.1%
Dividend (yield on the price)0.0%
Profit margin 2020 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.−15% → 22%
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).
+9.0%
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 −8.6% a year for the price.
Compare GSD Denizcilik Gayrimenkul Insaat 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.Marine Shipping · 219 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score53 · Below median
Fair Value upside+62.9% · Top 25%
Profitability
Return on equity (12 months)18.1% · Top 25%
Return on assets4.4% · Above median
Net margin (12 months)91.4% · Top 25%
Operating margin (12 months)40.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−15.8% · Bottom 25%
Balance sheet
Debt / equity0.40× · Above median
Valuation Multiplesvs Marine Shipping median · lower = cheaper
P/E (12 months)3.1× · Cheapest 25%
P/B0.57× · Cheapest 25%
P/S (12 months)2.68× · Pricier than median
Price / free cash flow (fiscal year)12.3× · Pricier 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). "GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS Fair Value". https://www.fairvalue-calculator.com/stock/GSDDE
Frequently asked questions
Is GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (GSDDE) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 17.10 TRY versus a price of 10.50 TRY, about +63% upside (undervalued).
What is the fair value of GSDDE?
Our model-based fair value for GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS is 17.10 TRY (as of Nov 3, 2026), built from audited fundamentals. The current price: 10.50 TRY.
What is the quality score of GSDDE?
GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS has a Quality Score of 53/100. 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 GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (GSDDE)?
Our model-based price target is the fair value of 17.10 TRY (as of Nov 3, 2026) from 22 valuation models. Cautious scenario 12.55 TRY, optimistic scenario 22.63 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS stock forecast for 2026?
Our models put fair value at 17.10 TRY, about +63% upside versus a price of 10.50 TRY (undervalued). Cautious scenario 12.55 TRY, optimistic scenario 22.63 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (GSDDE)?
GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS reported trailing-twelve-month revenue of about 587M TRY (latest available figure, as of Nov 3, 2026).
What growth is priced into GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (GSDDE)?
For today's price to be fair in a discounted-cash-flow model, GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS would have to grow free cash flow by +9.0 % per year for five years (discount rate 13.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +67.3 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of GSDDE use?
Our models discount GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS at 13.4 %: a base by market capitalisation (nano), damped by beta 0.79, 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 GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS that is +9.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (13.4 %) and the same formula as our fair value.
How much growth has GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (GSDDE) delivered so far?
Over the past 5 years revenue at GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS grew +67.3 % a year. The price currently implies free-cash-flow growth of +9.0 % 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 GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (GSDDE) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (+9.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (GSDDE)?
The free-cash-flow yield on the price is 8.15 %: that much free cash flow GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS produces per unit of market value. When it exceeds the discount rate of our models (13.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (GSDDE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS it is 17.10 TRY per share (as of Nov 3, 2026), against a price of 10.50 TRY. It is the blended result of 22 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS stock overvalued or undervalued in 2026?
As of Nov 3, 2026, GSDDE trades below its calculated fair value: price 10.50 TRY, fair value 17.10 TRY, a gap of about +63% (undervalued). 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 GSDDE?
No. The price is what the market pays today (10.50 TRY); the fair value is what the company's own numbers justify (17.10 TRY). For GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS the two are 6.60 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS worth?
The market values GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS at about 1.6B TRY (market capitalisation, as of Nov 3, 2026). Per share that is 10.50 TRY; our models calculate a fair value of 17.10 TRY per share.
What do the bullish and bearish scenarios say about GSDDE?
Our models span a range for GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS: cautious scenario 12.55 TRY, base 17.10 TRY, optimistic 22.63 TRY per share (as of Nov 3, 2026, price 10.50 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GSDDE?
GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS trades at a price-to-earnings ratio of 3.1 (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 17.10 TRY is built from several models across several years. Other multiples: PEG 0.7, P/B 0.6, P/S 2.7, EV/EBITDA 5.5.
What is the PEG ratio of GSDDE?
The PEG ratio of GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS is 0.68 (P/E divided by earnings growth, as of Nov 3, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (GSDDE)?
Balance-sheet figures for GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (as of Nov 3, 2026): return on equity 18.1%, debt of 0.40 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is GSDDE from its 52-week high?
GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS trades at 10.50 TRY, about 40% below its 52-week high of 17.40 TRY and 14% above the low of 9.23 TRY (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 17.10 TRY is for.
Which stocks are comparable to GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS?
From the same area (Industrials) we also value Adani Ports and Special Economic Zone Limited, COSCO SHIPPING Holdings, Hapag-Lloyd Aktiengesellschaft,, Shanghai International Port (Group) Co, 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 GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS stock attractive at the current price?
The data as of Nov 3, 2026: price 10.50 TRY, calculated fair value 17.10 TRY (+63%), Quality Score 53/100, from 22 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 GSDDE calculated?
We run GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS through 22 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 17.10 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. GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS currently trades 39% below its own fair value, and the market average says nothing about that. 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 GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (GSDDE)?
The closing price on Nov 6, 2026 was 10.50 TRY. Our model-based fair value is 17.10 TRY, about +63% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS right now?
The price is below even our cautious bear case (12.55 TRY). The market is more pessimistic than our downside scenario. 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 quality (53/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (12.55 TRY to 22.63 TRY) leaves room in how you read the outcome.
Key figures of GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS
How large is the market capitalisation of GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (GSDDE)?
The market capitalisation of GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS is 1.6B TRY (≈ $31.4M). 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 GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (GSDDE)?
The price-to-sales ratio of GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS is 2.68 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (GSDDE)?
Earnings per share at GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS are 3.43 TRY (price ÷ EPS = P/E 3.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (GSDDE)?
The net margin of GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS is 91.4% (last twelve months). 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 GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (GSDDE)?
The return on equity (ROE) of GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS is 18.1% (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 GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (GSDDE)?
On an EBIT basis the return on assets of GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS is 6.8% (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 GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (GSDDE)?
The operating margin of GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS is 40.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (GSDDE)?
Revenue at GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS is growing −15.8% versus a year earlier (3y avg +23.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS (GSDDE) carry?
The net debt of GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS is 59.1M TRY (fiscal year 2025, ≈ 0.5 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