Imas Makina Sanayi AS (IMASM) fair value: what the stock is really worth
As of Oct 6, 2026: fair value of Imas Makina Sanayi AS TRY 4.77, price TRY 1.59, upside +200.0%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Imas Makina Sanayi A.S. manufactures and sells machinery and equipment in Turkey and internationally.
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Imas Makina Sanayi A.S. manufactures and sells machinery and equipment in Turkey and internationally. The company engages in the manufacture of grain milling machines and systems to produce flour and semolina from wheat, corn, rye, and oats under the Milleral brand; production and installation of machines used to produce cattle, sheep, and poultry feed under the Viteral brand; and produces saw machines under the Cuteral brand. It also provides project design, manufacturing, construction work, and assembly services under the Steral brand; and after-sales technical support services. In addition, the company is involved in manufacturing of workbenches; feed machines; structural steel; spare parts of farm throwing machines, as well as engineering, architecture, contracting, subcontracting, consultancy, and raw and auxiliary services. Imas Makina Sanayi A.S. was incorporated in 1989 and is based in Konya, Turkey.
Stock analysis
Imas Makina Sanayi AS (IMASM) currently trades at 1.59 TRY, while our model-based Fair Value estimate is 4.77 TRY, implying the stock looks roughly 66.7% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 13.52 TRY per share, and 23 of the 23 models we run sit above the 1.59 TRY price.
Bear case: the Asset-Based group reads lowest at 1.70 TRY, and 0 of the 23 models stay below the price. Evidence for this calculation is low.
Scenario range: 2.43 TRY (bear) to 5.97 TRY (bull), the price of 1.59 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 44/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Imas Makina Sanayi AS reported revenue of 2.2B TRY in FY2024 versus 202M TRY in FY2020, a compound +80.8%/yr. Reported net income was 273M TRY in FY2024, compounding +61.3%/yr from FY2020.
Key figures
Market cap 1.5B TRY (≈ $29.9M) · P/S ratio 0.57 · EPS (TTM) −0.4400 TRY · Net margin 12.6% · Return on equity −11.2% · Return on assets (EBIT) 8.1% · Operating margin 19.8% · Revenue (TTM) 2.7B TRY.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 73% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −49% fair-value upside, at 200%, IMASM screens cheaper than that median.
Fair Value models
Bear 2.43 TRYFair Value 4.77 TRYBull 5.97 TRY
Price 1.59 TRY · Upside +200.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.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.Evidence ⓘEvidence = 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
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+17.7%
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.
+99.4%
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.
+68.1%
’19
’20
’21
’22
’23
’24
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.
−13.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−13.3%
Dividend (yield on the price)0.0%
Profit margin 2019 to 2024 ⓘ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.16% → 17%
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).
+15.0%
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 −3.6% a year for the price.
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.Specialty Industrial Machinery · 806 stocks
Beats the industry median on 5/8 measures
Overall it ranks above its industry peers.
Valuation
Quality Score44 · Bottom 25%
Fair Value upside+200.0% · Top 25%
Profitability
Return on assets3.2% · Above median
Net margin (TTM)−12.9% · Bottom 25%
Operating margin (TTM)19.8% · Top 25%
Growth and dividend
Revenue growth−18.7% · Bottom 25%
Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper
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). "Imas Makina Sanayi AS Fair Value". https://www.fairvalue-calculator.com/stock/IMASM
Frequently asked questions
Is Imas Makina Sanayi AS (IMASM) overvalued or undervalued?
As of Oct 4, 2026, our model estimates a fair value of 4.77 TRY versus a price of 1.59 TRY, about +200% upside (undervalued).
What is the fair value of IMASM?
Our model-based fair value for Imas Makina Sanayi AS is 4.77 TRY (as of Oct 4, 2026), built from audited fundamentals. The current price: 1.59 TRY.
What is the quality score of IMASM?
Imas Makina Sanayi AS has a Quality Score of 44/100. 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 Imas Makina Sanayi AS (IMASM)?
Our model-based price target is the fair value of 4.77 TRY (as of Oct 4, 2026) from 23 valuation models. Cautious scenario 2.43 TRY, optimistic scenario 5.97 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Imas Makina Sanayi AS stock forecast for 2026?
Our models put fair value at 4.77 TRY, about +200% upside versus a price of 1.59 TRY (undervalued). Cautious scenario 2.43 TRY, optimistic scenario 5.97 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Imas Makina Sanayi AS (IMASM)?
Imas Makina Sanayi AS reported trailing-twelve-month revenue of about 2.7B TRY (latest available figure, as of Oct 4, 2026).
What growth is priced into Imas Makina Sanayi AS (IMASM)?
For today's price to be fair in a discounted-cash-flow model, Imas Makina Sanayi AS would have to grow free cash flow by +15.0 % per year for five years (discount rate 12.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +68.1 % per year. As of Oct 4, 2026.
What discount rate (WACC) does the fair value of IMASM use?
Our models discount Imas Makina Sanayi AS at 12.8 %: a base by market capitalisation (nano), damped by beta 0.63, 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 Imas Makina Sanayi AS that is +15.0 % per year a year over ten years, using the same discount rate (12.8 %) and the same formula as our fair value.
How much growth has Imas Makina Sanayi AS (IMASM) delivered so far?
Over the past 5 years revenue at Imas Makina Sanayi AS grew +68.1 % a year. The price currently implies +15.0 % per year free-cash-flow growth a 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 Imas Makina Sanayi AS (IMASM) growing?
The median revenue growth in the sector is +7.3 % a year. That is the yardstick for the growth priced into Imas Makina Sanayi AS (+15.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Imas Makina Sanayi AS (IMASM)?
The free-cash-flow yield on the price is 5.40 %: that much free cash flow Imas Makina Sanayi AS produces per unit of market value. When it exceeds the discount rate of our models (12.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Imas Makina Sanayi AS (IMASM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Imas Makina Sanayi AS it is 4.77 TRY per share (as of Oct 4, 2026), against a price of 1.59 TRY. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Imas Makina Sanayi AS stock overvalued or undervalued in 2026?
As of Oct 4, 2026, IMASM trades below its calculated fair value: price 1.59 TRY, fair value 4.77 TRY, a gap of about +200% (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 IMASM?
No. The price is what the market pays today (1.59 TRY); the fair value is what the company's own numbers justify (4.77 TRY). For Imas Makina Sanayi AS the two are 3.18 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Imas Makina Sanayi AS worth?
The market values Imas Makina Sanayi AS at about 1.5B TRY (market capitalisation, as of Oct 4, 2026). Per share that is 1.59 TRY; our models calculate a fair value of 4.77 TRY per share.
What do the bullish and bearish scenarios say about IMASM?
Our models span a range for Imas Makina Sanayi AS: cautious scenario 2.43 TRY, base 4.77 TRY, optimistic 5.97 TRY per share (as of Oct 4, 2026, price 1.59 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Imas Makina Sanayi AS (IMASM)?
Balance-sheet figures for Imas Makina Sanayi AS (as of Oct 4, 2026): return on equity −11.2%. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is IMASM from its 52-week high?
Imas Makina Sanayi AS trades at 1.59 TRY, about 73% below its 52-week high of 5.88 TRY and 6% above the low of 1.50 TRY (as of Oct 6, 2026). Distance from the high says nothing about value: that is what the fair value of 4.77 TRY is for.
Which stocks are comparable to Imas Makina Sanayi AS?
From the same area (Industrials) we also value GE Vernova Inc, SIE, Eaton Corporation, Parker-Hannifin Corporation, 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 Imas Makina Sanayi AS stock attractive at the current price?
The data as of Oct 4, 2026: price 1.59 TRY, calculated fair value 4.77 TRY (+200%), Quality Score 44/100, from 23 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 IMASM calculated?
We run Imas Makina Sanayi AS through 23 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 4.77 TRY, 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 15.4 % above its aggregate fair value. Imas Makina Sanayi AS currently trades 67 % 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 Imas Makina Sanayi AS (IMASM)?
The closing price on Oct 6, 2026 was 1.59 TRY. Our model-based fair value is 4.77 TRY, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Imas Makina Sanayi AS right now?
The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (2.43 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. A fairly wide model range (2.43 TRY to 5.97 TRY) leaves room in how you read the outcome.
Key figures of Imas Makina Sanayi AS
How large is the market capitalisation of Imas Makina Sanayi AS (IMASM)?
The market capitalisation of Imas Makina Sanayi AS is 1.5B TRY (≈ $29.9M). 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 Imas Makina Sanayi AS (IMASM)?
The price-to-sales ratio of Imas Makina Sanayi AS is 0.57 (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 Imas Makina Sanayi AS (IMASM)?
Earnings per share at Imas Makina Sanayi AS are −0.4400 TRY. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Imas Makina Sanayi AS (IMASM)?
The net margin of Imas Makina Sanayi AS is 12.6% (fiscal year 2024). 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 Imas Makina Sanayi AS (IMASM)?
The return on equity (ROE) of Imas Makina Sanayi AS is −11.2% (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 Imas Makina Sanayi AS (IMASM)?
On an EBIT basis the return on assets of Imas Makina Sanayi AS is 8.1% (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 Imas Makina Sanayi AS (IMASM)?
The operating margin of Imas Makina Sanayi AS is 19.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Imas Makina Sanayi AS (IMASM)?
Revenue at Imas Makina Sanayi AS is growing −18.7% versus a year earlier (3y avg +99.4%). 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 Imas Makina Sanayi AS (IMASM)?
Earnings per share at Imas Makina Sanayi AS are growing +9.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Imas Makina Sanayi AS (IMASM) carry?
The net debt of Imas Makina Sanayi AS is 5.6M TRY (fiscal year 2022, ≈ 0.1 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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