Hitit Bilgisayar Hizmetleri A.S. (HTTBT) Fair Value & Analysis
Technology · TR · Market cap 11.5B TRY
Fair value as of: Aug 8, 2026
From 14 valuation models · updated yesterday
Share price −1.0% over the past month.
Below-average quality, and screening another 39% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (28.69 TRY). The favourable scenario is already priced in.
- Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (4 years)
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
53‑month range 5.05 TRY – 53.65 TRY · fair‑value band 17.89 TRY – 28.69 TRY · the 38.40 TRY price screens above the 23.29 TRY fair value. Dashed = 300-day average. As of Aug 8, 2026.
Analysis
Hitit Bilgisayar Hizmetleri A.S. (HTTBT) currently trades at 38.40 TRY, while our model-based Fair Value estimate is 23.29 TRY, implying the stock looks roughly 39.4% overvalued today. The Quality Score stands at 48/100 (below-average quality), in the Technology 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, Hitit Bilgisayar Hizmetleri A.S. generated revenue of 1.8B TRY at a net margin of 22.5%. Revenue grew 43.4% year over year. It earns a return on equity of 14.8%. The stock trades on a trailing P/E of 28.2. Fundamentals as of Aug 8, 2026
Our scenario range runs from 17.89 TRY (bear case) to 28.69 TRY (bull case); at 38.40 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 29% below its 52-week high and 9% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at -39%, HTTBT 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.
All 14 models by family
Widest divergence: Growth Earnings (58.46 TRY) versus Asset-Based (6.63 TRY). Highest evidence: Growth-Adj P/E (68).
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 54 · Market factors (momentum, volatility) 36
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
Hitit Bilgisayar Hizmetleri A.S. develops and sells airline and travel technology solutions under the Crane brand in Turkey and internationally.
Full company description
Hitit Bilgisayar Hizmetleri A.S. develops and sells airline and travel technology solutions under the Crane brand in Turkey and internationally. The company offers passenger service system (PSS), a suite of solutions comprising reservation and passenger services, internet booking engine, reservations and passenger service, mobile application, allotment manager, departure control system, weight and balance, baggage reconciliation itinerary, and loyalty layer; operations planning solutions consisting of crew tracking, schedule and capacity planning, strategic planning and operations control; and accounting solutions, such as revenue accounting, cost accounting, and business performance index. It also provides Crane TM, a travel marketplace platform that enables airlines to set up a travel marketplace for its tour operator and online travel agency (OTA) partners to create and sell leisure and business travel packages; travel solutions, including Crane OTA, multilingual and multi-currency online travel platform and Crane APP, an agent portal for airlines; and cargo solutions, such as reservation and cargo services, and domestic cargo services. In addition, the company offers technical infrastructure and hosting, consultancy and training, and after-sales support and maintenance services. It serves airlines, travel companies, and airports. The company was incorporated in 1994 and is headquartered in Istanbul, Turkey.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Hitit Bilgisayar Hizmetleri A.S. reported revenue of 1.7B TRY in FY2025 versus 128M TRY in FY2021, a compound +89.5%/yr. Reported net income was 389M TRY in FY2025, compounding +102.0%/yr from FY2021.
HTTBT screens 39% overvalued. Compare with SAP SE →
Peer Group
Software - Application · 708 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 Software - Application 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 Software - Application stocks, each showing price versus our Fair Value estimate (as of Aug 8, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| SAP SE SAPS | C$12.69 | C$16.26 | +28% |
| Shopify Inc SHOP | C$173.23 | C$20.54 | -88% |
| Uber Technologies, Inc UBER | $72.67 | $51.11 | -30% |
| Salesforce, Inc CRM | $170.77 | $182.10 | +7% |
| ServiceNow, Inc NOW | $107.71 | $33.12 | -69% |
| Cadence Design Systems, Inc CDNS | $384.17 | $80.41 | -79% |
| Snowflake Inc SNOW | $271.87 | $34.04 | -87% |
| Adobe Inc ADBE | $230.61 | $379.48 | +65% |
| Automatic Data Processing, Inc ADP | $241.92 | $177.51 | -27% |
| Intuit Inc INTU | $291.09 | $258.69 | -11% |
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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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