Is Gayrimenkul Yatirim Ortakligi A.S. (ISGYO) fair value: what the stock is really worth
As of Nov 11, 2026: fair value (intrinsic value) of Is Gayrimenkul Yatirim Ortakligi A.S. stock TRY 20.98, price TRY 18.88, upside +11.1%, quality 33 out of 100. Rating: undervalued. Calculated from audited financials with 4 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
60‑month range 1.80 TRY – 28.36 TRY · fair‑value band 15.53 TRY – 26.42 TRY · the 18.88 TRY price screens below the 20.98 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
Follow Is Gayrimenkul Yatirim Ortakligi A.S. in your weekly email
Every Wednesday you see whether Is Gayrimenkul Yatirim Ortakligi A.S. is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Is Gayrimenkul Yatirim Ortakligi A.S. is a Turkey-based real estate investment trust through the consolidation of Is Gayrimenkul Yatirim ve Proje Degerlendirme A.S. and Merkez Gayrimenkul Yatirim ve Proje Degerlendirme A.S. The company is a subsidiary of Turkiye Is Bankasi A.S. and operates under the regulations of the Capital Markets Board of Turkey applicable to real estate investment corporations.
Show moreShow less
Its principal activities include investing in income-generating real estate assets, real estate development projects, and property-related capital market instruments in line with regulatory portfolio limits.
The company's shares have been listed on Borsa Istanbul since 1999, and its registered headquarters are in Istanbul. Turkey. Gayrimenkul Yatirim Ortakligi A.S. was incorporated in August 6th, 1999 in Turkey.
Stock analysis
Is Gayrimenkul Yatirim Ortakligi A.S. (ISGYO) currently trades at 18.88 TRY, while our model-based Fair Value estimate is 20.98 TRY, implying the stock looks roughly 10% undervalued today.
Show more
Valuation
Bull case: the Asset-Based group reads highest at a median of 35.10 TRY per share, and 3 of the 4 models we run sit above the 18.88 TRY price.
Bear case: the Multiples group reads lowest at 20.98 TRY, and 1 of the 4 models stay below the price. Data coverage for this calculation is low.
Scenario range: 15.53 TRY (bear) to 26.42 TRY (bull), the price of 18.88 TRY sits inside 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 33/100 (below-average quality), in the Real Estate sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Is Gayrimenkul Yatirim Ortakligi A.S. reported revenue of 3.1B TRY in FY2025 versus 489M TRY in FY2021, a compound +59.1%/yr. Reported net income was −958M TRY in FY2025.
Key figures
Market cap 18.1B TRY (≈ $360M) Small · P/S ratio 6.43 · EPS (TTM) −2.35 TRY · Dividend yield 0.4% · Net margin −87.4% · Return on equity −4.5% · Return on assets (EBIT) 2.6% (5-year average) · Operating margin 42.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (low confidence).
What moves the price
The share trades about 33% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −9% fair-value upside, at 11%, ISGYO screens cheaper than that median.
Fair Value models
Bear15.53 TRYFair Value 20.98 TRYBull26.42 TRY
Price 18.88 TRY · Upside +11.1%
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.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.44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
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.
+121.3%
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.
+34.4%
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.
+23.9%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
Profit margin (trend) ⓘ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.
30.1% (2020) → 38.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Compare Is Gayrimenkul Yatirim Ortakligi A.S. with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
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.REIT - Diversified · 140 stocks
Beats the industry median on 3/11 measures
Overall it trails its industry peers.
Valuation
Quality Score33 · Bottom 25%
Fair Value upside+11.1% · Above median
Profitability
Return on assets−1.7% · Bottom 25%
Net margin (12 months)−87.4% · Bottom 25%
Operating margin (12 months)42.0% · Below median
Growth and dividend
Revenue growth (quarter YoY)−15.7% · Bottom 25%
Dividend yield (12 months)0.4% · Bottom 25%
Valuation Multiplesvs REIT - Diversified 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.
Is Is Gayrimenkul Yatirim Ortakligi A.S. (ISGYO) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 20.98 TRY versus a price of 18.88 TRY, about +11% upside (undervalued).
What is the fair value of ISGYO?
Our model-based fair value for Is Gayrimenkul Yatirim Ortakligi A.S. is 20.98 TRY (as of Nov 9, 2026), built from audited fundamentals. The current price: 18.88 TRY.
What is the quality score of ISGYO?
Is Gayrimenkul Yatirim Ortakligi A.S. has a Quality Score of 33/100. 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 Is Gayrimenkul Yatirim Ortakligi A.S. (ISGYO)?
Our model-based price target is the fair value of 20.98 TRY (as of Nov 9, 2026) from 4 valuation models. Cautious scenario 15.53 TRY, optimistic scenario 26.42 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Is Gayrimenkul Yatirim Ortakligi A.S. stock forecast for 2026?
Our models put fair value at 20.98 TRY, about +11% upside versus a price of 18.88 TRY (undervalued). Cautious scenario 15.53 TRY, optimistic scenario 26.42 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Is Gayrimenkul Yatirim Ortakligi A.S. (ISGYO)?
Is Gayrimenkul Yatirim Ortakligi A.S. reported trailing-twelve-month revenue of about 2.7B TRY (latest available figure, as of Nov 9, 2026).
Does Is Gayrimenkul Yatirim Ortakligi A.S. pay a dividend?
Is Gayrimenkul Yatirim Ortakligi A.S. currently shows a dividend yield of 0.44% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Is Gayrimenkul Yatirim Ortakligi A.S. (ISGYO) and when is the ex-dividend date?
Is Gayrimenkul Yatirim Ortakligi A.S. pays a dividend of 0.083 TRY per share a year, a dividend yield of 0.4%. The last ex-dividend date was Mar 31, 2026. Our assessment: Token dividend. At a yield of 0.4% the dividend is symbolic. On paper it is not fully covered by earnings or free cash flow, but at this size that hardly matters: even scrapping it entirely would cost less than 0.4% a year, and coverage ratios on amounts this small swing with ordinary working-capital movements. Judge this company on its business, not on its dividend.
What is the intrinsic value of Is Gayrimenkul Yatirim Ortakligi A.S. (ISGYO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Is Gayrimenkul Yatirim Ortakligi A.S. it is 20.98 TRY per share (as of Nov 9, 2026), against a price of 18.88 TRY. It is the blended result of 4 valuation models in 2 families (Multiples, Asset-Based).
Is Is Gayrimenkul Yatirim Ortakligi A.S. stock overvalued or undervalued in 2026?
As of Nov 9, 2026, ISGYO trades below its calculated fair value: price 18.88 TRY, fair value 20.98 TRY, a gap of about +11% (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 ISGYO?
No. The price is what the market pays today (18.88 TRY); the fair value is what the company's own numbers justify (20.98 TRY). For Is Gayrimenkul Yatirim Ortakligi A.S. the two are 2.10 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Is Gayrimenkul Yatirim Ortakligi A.S. worth?
The market values Is Gayrimenkul Yatirim Ortakligi A.S. at about 18.1B TRY (market capitalisation, as of Nov 9, 2026). Per share that is 18.88 TRY; our models calculate a fair value of 20.98 TRY per share.
What do the bullish and bearish scenarios say about ISGYO?
Our models span a range for Is Gayrimenkul Yatirim Ortakligi A.S.: cautious scenario 15.53 TRY, base 20.98 TRY, optimistic 26.42 TRY per share (as of Nov 9, 2026, price 18.88 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of ISGYO?
The PEG ratio of Is Gayrimenkul Yatirim Ortakligi A.S. is 0.79 (P/E divided by earnings growth, as of Nov 9, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Is Gayrimenkul Yatirim Ortakligi A.S. (ISGYO)?
Balance-sheet figures for Is Gayrimenkul Yatirim Ortakligi A.S. (as of Nov 9, 2026): return on equity −4.5%. They feed the Quality Score of 33/100, which measures business quality independently of the share price.
How far is ISGYO from its 52-week high?
Is Gayrimenkul Yatirim Ortakligi A.S. trades at 18.88 TRY, about 33% below its 52-week high of 28.36 TRY and 9% above the low of 17.25 TRY (as of Nov 11, 2026). Distance from the high says nothing about value: that is what the fair value of 20.98 TRY is for.
Which stocks are comparable to Is Gayrimenkul Yatirim Ortakligi A.S.?
From the same area (Real Estate) we also value Goodman Group, VICI Properties Inc, W. P. Carey Inc, Stockland, 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 Is Gayrimenkul Yatirim Ortakligi A.S. stock attractive at the current price?
The data as of Nov 9, 2026: price 18.88 TRY, calculated fair value 20.98 TRY (+11%), Quality Score 33/100, from 4 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 ISGYO calculated?
We run Is Gayrimenkul Yatirim Ortakligi A.S. through 4 models from 2 families: Multiples, Asset-Based. Every model gets the same audited fundamentals; the fair value of 20.98 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 14.0% above its aggregate fair value. Is Gayrimenkul Yatirim Ortakligi A.S. currently trades 10% 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 Is Gayrimenkul Yatirim Ortakligi A.S. (ISGYO)?
The closing price on Nov 11, 2026 was 18.88 TRY. Our model-based fair value is 20.98 TRY, about +11% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Is Gayrimenkul Yatirim Ortakligi A.S. right now?
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Is Gayrimenkul Yatirim Ortakligi A.S.
How large is the market capitalisation of Is Gayrimenkul Yatirim Ortakligi A.S. (ISGYO)?
The market capitalisation of Is Gayrimenkul Yatirim Ortakligi A.S. is 18.1B TRY (≈ $360M). 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 Is Gayrimenkul Yatirim Ortakligi A.S. (ISGYO)?
The price-to-sales ratio of Is Gayrimenkul Yatirim Ortakligi A.S. is 6.43 (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 Is Gayrimenkul Yatirim Ortakligi A.S. (ISGYO)?
Earnings per share at Is Gayrimenkul Yatirim Ortakligi A.S. are −2.35 TRY. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Is Gayrimenkul Yatirim Ortakligi A.S. (ISGYO)?
The dividend yield of Is Gayrimenkul Yatirim Ortakligi A.S. is 0.4%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Is Gayrimenkul Yatirim Ortakligi A.S. (ISGYO)?
The net margin of Is Gayrimenkul Yatirim Ortakligi A.S. is −87.4% (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 Is Gayrimenkul Yatirim Ortakligi A.S. (ISGYO)?
The return on equity (ROE) of Is Gayrimenkul Yatirim Ortakligi A.S. is −4.5% (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 Is Gayrimenkul Yatirim Ortakligi A.S. (ISGYO)?
On an EBIT basis the return on assets of Is Gayrimenkul Yatirim Ortakligi A.S. is 2.6% (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 Is Gayrimenkul Yatirim Ortakligi A.S. (ISGYO)?
The operating margin of Is Gayrimenkul Yatirim Ortakligi A.S. is 42.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Is Gayrimenkul Yatirim Ortakligi A.S. (ISGYO)?
Revenue at Is Gayrimenkul Yatirim Ortakligi A.S. is growing −15.7% versus a year earlier (3y avg +65.7%). 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 Is Gayrimenkul Yatirim Ortakligi A.S. (ISGYO)?
Earnings per share at Is Gayrimenkul Yatirim Ortakligi A.S. are growing −62.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Is Gayrimenkul Yatirim Ortakligi A.S. (ISGYO) generate?
The free cash flow of Is Gayrimenkul Yatirim Ortakligi A.S. is −917M TRY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Is Gayrimenkul Yatirim Ortakligi A.S. (ISGYO) carry?
The net debt of Is Gayrimenkul Yatirim Ortakligi A.S. is 774M TRY (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Is Gayrimenkul Yatirim Ortakligi A.S. in the live analysis
One click puts Is Gayrimenkul Yatirim Ortakligi A.S. on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Thin data
Nov 9, 2026