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Ihlas Ev Aletleri Imalat Sanayi ve Ticaret A.S. (IHEVA) Fair Value & Analysis

Consumer Cyclical · TR · Market cap 708M TRY

IE Ihlas Ev Aletleri Imalat Sanayi ve Ticaret A.S. IHEVA · IS
Price2.02 TRY
Fair Value2.95 TRY
Upside+46.0%
Quality40/100
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Expensive Growth
Loss-making · -0.2% net margin
Low debt · negative free cash flow
Mixed vs. peers (4/8)
Narrow moat 22/100
Evidence: High Range 1.70 TRY – 2.95 TRY Share as image

Fair value as of: Aug 8, 2026

From 16 valuation models · updated yesterday

Share price −2.4% over the past month.

Below-average quality, screening 46% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (40/100). That raises the risk this is a value trap rather than a bargain.
  • Our model range runs from 1.70 TRY (bear) to 2.95 TRY (bull), base 2.95 TRY. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 40/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

4.40 TRY 0.9118 TRY Fair Value 2.95 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 0.9118 TRY – 4.40 TRY · fair‑value band 1.70 TRY – 2.95 TRY · the 2.02 TRY price screens below the 2.95 TRY fair value. Dashed = 300-day average. As of Aug 8, 2026.

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Analysis

Ihlas Ev Aletleri Imalat Sanayi ve Ticaret A.S. (IHEVA) currently trades at 2.02 TRY, while our model-based Fair Value estimate is 2.95 TRY, implying the stock looks roughly 46.0% undervalued today. The Quality Score stands at 40/100 (below-average quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Ihlas Ev Aletleri Imalat Sanayi ve Ticaret A.S. generated revenue of 3.7B TRY at a net margin of -0.2%. Revenue declined 6.4% year over year. It earns a return on equity of -0.3%. Net debt stands at 63.5M TRY. Fundamentals as of Aug 8, 2026

Our scenario range runs from 1.70 TRY (bear case) to 2.95 TRY (bull case); at 2.02 TRY, the current price sits within 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 39% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 16% fair-value upside, at 46%, IHEVA screens cheaper 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
Residual Income 3.75 TRY 3.38 TRY 2.31 TRY 76
ROIC Compounder 4.16 TRY 4.73 TRY 5.21 TRY 72
Gordon GGM 0.0800 TRY 0.1400 TRY 0.1900 TRY 70
All 16 models by family
Earnings-Based
Graham-Dodd 0.5200 TRY 3.60 TRY 5.05 TRY 54
Lynch FV 1.70 TRY 2.43 TRY 3.16 TRY 50
PEG = 1.0 1.70 TRY 2.43 TRY 3.16 TRY 46
EPV 4.16 TRY 4.73 TRY 5.21 TRY 59
Dividend Discount
Gordon GGM 0.0800 TRY 0.1400 TRY 0.1900 TRY 70
DDM Multi-Stage 0.0800 TRY 0.1300 TRY 0.1500 TRY 61
Multiples
P/E Multiple 1.14 TRY 1.52 TRY 1.90 TRY 63
P/S Multiple 0.9700 TRY 1.29 TRY 1.61 TRY 58
P/B Multiple 0.9700 TRY 1.29 TRY 1.61 TRY 55
EV/EBIT 8.00 TRY 10.69 TRY 13.37 TRY 53
EV/EBITDA 8.61 TRY 11.50 TRY 14.38 TRY 54
EV/Revenue 5.38 TRY 7.71 TRY 10.03 TRY 43
Asset-Based
NCAV (Graham) 2.90 TRY 3.89 TRY 5.81 TRY 50
Economic Profit
Residual Income 3.75 TRY 3.38 TRY 2.31 TRY 76
ROIC Compounder 4.16 TRY 4.73 TRY 5.21 TRY 72
Growth Earnings
Growth-Adj P/E 2.23 TRY 3.18 TRY 4.14 TRY 68

Widest divergence: Asset-Based (3.89 TRY) versus Dividend Discount (0.1300 TRY). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 3.7B TRY
Revenue growth (YoY) -6.4%
Net margin -0.2%
Return on equity -0.3%
Free cash flow −135M TRY FY2025
Operating margin 5.5%
More key figures
EPS (TTM) -0.0200 TRY
EPS growth (YoY) -34.0%
Net debt 63.5M TRY FY2025

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

Quality Score breakdown

Overall quality 40/100

Of which business quality 46 · Market factors (momentum, volatility) 35

Profitability 38
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 23
Earnings quality: real cash, not paper profit
Fin. Strength 62
Balance sheet, leverage, solvency risk
Investment 28
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 22
Price trend over the last 3–12 months (market factor)
52W Momentum 8
Distance to the 52-week high (market factor)
Net Issuance 82
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

Ihlas Ev Aletleri Imalat Sanayi ve Ticaret A.S. engages in the production and sale of household appliances in Turkey and internationally.

Full company description

Ihlas Ev Aletleri Imalat Sanayi ve Ticaret A.S. engages in the production and sale of household appliances in Turkey and internationally. It offers cleaning robots, water purifiers and heaters, vacuum cleaners, shampooers, carpet washing machine, and teapots under the Aura, Aura Cleanmax, Aura Roboclean, Aura Cebilon, Aura QVac, Aura Livac, and Aura Wdry brand names. The company is also involved in food production; marketing; transportation; and other services. It sells its products through dealer networks and distributors. Ihlas Ev Aletleri Imalat Sanayi ve Ticaret A.S. was founded in 1970 and is based in Istanbul, Turkey.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ihlas Ev Aletleri Imalat Sanayi ve Ticaret A.S. reported revenue of 3.7B TRY in FY2025 versus 536M TRY in FY2021, a compound +62.4%/yr. Reported net income was 26.6M TRY in FY2025, compounding −26.5%/yr from FY2021.

Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
3.7B TRY
Latest YoY
−1.1%
Avg. growth/yr (3Y)
+48.0%
Avg. growth/yr (5Y)
+58.6%
Avg. growth/yr (20Y)
+21.7%
Revenue +62.4%/yr
FY21 536M TRY
FY22 1.1B TRY
FY23 3.0B TRY
FY24 3.8B TRY
FY25 3.7B TRY
Net income −26.5%/yr
FY21 91.0M TRY
FY22 226M TRY
FY23 −303M TRY
FY24 74.9M TRY
FY25 26.6M TRY

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Cite: Fair Value Calculator (2026). "Ihlas Ev Aletleri Imalat Sanayi ve Ticaret A.S. Fair Value". https://www.fairvalue-calculator.com/stock/IHEVA

Peer Group

Furnishings, Fixtures & Appliances · 314 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 40 · Bottom 25%
Fair Value upside +46% · Top 25%
Return on assets 5% · Top 25%
Net margin (TTM) -0% · Below median
Operating margin (TTM) 5% · Above median
Revenue growth -6% · Below median
Debt / equity 0.02× · Lower than median

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 95 · sector 23
FUTURE 0 · sector 0
PAST 0 · sector 19
HEALTH 99 · sector 98
DIVIDEND 0 · sector 55

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 Furnishings, Fixtures & Appliances stocks, each showing price versus our Fair Value estimate (as of Aug 8, 2026).

Stock Price Fair Value vs Fair Value
Midea Group 000333 ¥82.71 ¥107.22 +30%
Gree Electric Appliances, Inc 000651 ¥38.25 ¥88.02 +130%
Haier Smart Home Co 600690 ¥21.46 ¥36.04 +68%
King Slide Works Co 2059 8,655 TWD 1,917 TWD -78%
Guangdong Songfa Ceramics Co 603268 ¥155.59 ¥38.95 -75%
SharkNinja, Inc SN $154.53 $89.07 -42%
Hisense Home Appliances Group 000921 ¥26.33 ¥48.03 +82%
Zhejiang Supor Co 002032 ¥43.85 ¥44.84 +2%
COWAY Co 021240 96,700 KRW 112,530 KRW +16%
Ecovacs Robotics Co 603486 ¥50.13 ¥54.11 +8%

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Frequently asked questions

Is Ihlas Ev Aletleri Imalat Sanayi ve Ticaret A.S. (IHEVA) overvalued or undervalued?
As of Aug 8, 2026, our model estimates a fair value of 2.95 TRY versus a price of 2.02 TRY, about +46% (undervalued).
What is the fair value of IHEVA?
Our model-based fair value for Ihlas Ev Aletleri Imalat Sanayi ve Ticaret A.S. is 2.95 TRY (as of Aug 8, 2026), built from audited fundamentals. The current price is 2.02 TRY.
What is the quality score of IHEVA?
Ihlas Ev Aletleri Imalat Sanayi ve Ticaret A.S. has a Quality Score of 40/100. 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 Ihlas Ev Aletleri Imalat Sanayi ve Ticaret A.S. (IHEVA)?
Ihlas Ev Aletleri Imalat Sanayi ve Ticaret A.S. reported trailing-twelve-month revenue of about 3.7B TRY (latest available figure, as of Aug 8, 2026).
What is the net profit margin of IHEVA?
The net profit margin of Ihlas Ev Aletleri Imalat Sanayi ve Ticaret A.S. is about -0.2%, meaning it is currently running at a net loss. 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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