Kartonsan Karton Sanayi ve Ticaret A.S. (KARTN) fair value: what the stock is really worth
As of Sep 22, 2026: fair value of Kartonsan Karton Sanayi ve Ticaret A.S. TRY 21.86, price TRY 105, upside -79.2%, quality 31 out of 100. Calculated from audited financials with 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, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 39.69 TRY – 233.80 TRY · fair‑value band 16.31 TRY – 32.63 TRY · the 105.00 TRY price screens above the 21.86 TRY fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Kartonsan Karton Sanayi ve Ticaret A.S. produces and trades in coated cardboards in Turkey and internationally. It provides normprint, exprint, and luxtriplex multi-coated cardboards from recycled paper. The company's products are used in the food, pharmaceuticals, cosmetics, advertising and promotion sectors. Kartonsan Karton Sanayi ve Ticaret A.S.
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Kartonsan Karton Sanayi ve Ticaret A.S. produces and trades in coated cardboards in Turkey and internationally. It provides normprint, exprint, and luxtriplex multi-coated cardboards from recycled paper. The company's products are used in the food, pharmaceuticals, cosmetics, advertising and promotion sectors. Kartonsan Karton Sanayi ve Ticaret A.S. was incorporated in 1967 and is headquartered in Istanbul, Turkey.
Stock analysis
Kartonsan Karton Sanayi ve Ticaret A.S. (KARTN) currently trades at 105.00 TRY, while our model-based Fair Value estimate is 21.86 TRY, implying the stock looks roughly 380.3% overvalued today.
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Valuation
How firm this estimate is: it rests on 3 models at a data quality of 95/100, which puts the evidence level at low.
Scenario range: 16.31 TRY (bear) to 32.63 TRY (bull), the price of 105.00 TRY sits above 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 31/100 (below-average quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Kartonsan Karton Sanayi ve Ticaret A.S. reported revenue of 4.0B TRL in FY2025 versus 1.6B TRL in FY2021, a compound +26.1%/yr. Reported net income was −1.2B TRL in FY2025.
Key figures
Market cap 13.9B TRY (≈ $285M) · P/S ratio 3.93 · EPS (TTM) −5.09 TRY · Net margin −28.9% · Return on equity −13.7% · Return on assets (EBIT) −2.4% · Operating margin −30.9% · Revenue (TTM) 3.5B TRY.
What moves the price
The share trades about 56% below its 52-week high and 70% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −21% fair-value upside, at −79%, KARTN screens richer than that median.
Fair Value models
Bear 16.31 TRYFair Value 21.86 TRYBull 32.63 TRY
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.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.38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−20.7%
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.
+6.1%
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.
+35.1%
Start year 2020 (pandemic). Over 10 years: +31.0% a year
Revenue growth 23 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.
−35.9%
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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.
17.2% (2020) → −39.1% (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 Kartonsan Karton Sanayi ve Ticaret A.S. 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.Packaging & Containers · 271 stocks
Beats the industry median on 2/9 measures
Overall it trails its industry peers.
Valuation
Quality Score31 · Bottom 25%
Fair Value upside−79% · Bottom 25%
Profitability
Return on assets−17% · Bottom 25%
Net margin (TTM)−11% · Bottom 25%
Operating margin (TTM)−31% · Bottom 25%
Growth and dividend
Revenue growth−19% · Bottom 25%
Balance sheet
Debt / equity0.21× · Above median
Valuation Multiplesvs Packaging & Containers median · lower = cheaper
P/B0.12× · Cheapest 25%
P/S (TTM)0.08× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 19
FUTURE (revenue growth)0· sector 5
PAST (return on equity)0· sector 24
HEALTH (low debt)89· sector 92
DIVIDEND (yield)0· sector 46
VALUE 0: the price sits above our fair-value range.
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). "Kartonsan Karton Sanayi ve Ticaret A.S. Fair Value". https://www.fairvalue-calculator.com/stock/KARTN
Frequently asked questions
Is Kartonsan Karton Sanayi ve Ticaret A.S. (KARTN) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 21.86 TRY versus a price of 105.00 TRY, about −79% upside (overvalued).
What is the fair value of KARTN?
Our model-based fair value for Kartonsan Karton Sanayi ve Ticaret A.S. is 21.86 TRY (as of Sep 24, 2026), built from audited fundamentals. The current price: 105.00 TRY.
What is the quality score of KARTN?
Kartonsan Karton Sanayi ve Ticaret A.S. has a Quality Score of 31/100. 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 Kartonsan Karton Sanayi ve Ticaret A.S. (KARTN)?
Our model-based price target is the fair value of 21.86 TRY (as of Sep 24, 2026) from 3 valuation models. Cautious scenario 16.31 TRY, optimistic scenario 32.63 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Kartonsan Karton Sanayi ve Ticaret A.S. stock forecast for 2026?
Our models put fair value at 21.86 TRY, about −79% upside versus a price of 105.00 TRY (overvalued). Cautious scenario 16.31 TRY, optimistic scenario 32.63 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Kartonsan Karton Sanayi ve Ticaret A.S. (KARTN)?
Kartonsan Karton Sanayi ve Ticaret A.S. reported trailing-twelve-month revenue of about 3.5B TRY (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Kartonsan Karton Sanayi ve Ticaret A.S. (KARTN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kartonsan Karton Sanayi ve Ticaret A.S. it is 21.86 TRY per share (as of Sep 24, 2026), against a price of 105.00 TRY. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Kartonsan Karton Sanayi ve Ticaret A.S. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, KARTN trades above its calculated fair value: price 105.00 TRY, fair value 21.86 TRY, a gap of about −79% (overvalued). 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 KARTN?
No. The price is what the market pays today (105.00 TRY); the fair value is what the company's own numbers justify (21.86 TRY). For Kartonsan Karton Sanayi ve Ticaret A.S. the two are 83.14 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Kartonsan Karton Sanayi ve Ticaret A.S. worth?
The market values Kartonsan Karton Sanayi ve Ticaret A.S. at about 13.9B TRY (market capitalisation, as of Sep 24, 2026). Per share that is 105.00 TRY; our models calculate a fair value of 21.86 TRY per share.
What do the bullish and bearish scenarios say about KARTN?
Our models span a range for Kartonsan Karton Sanayi ve Ticaret A.S.: cautious scenario 16.31 TRY, base 21.86 TRY, optimistic 32.63 TRY per share (as of Sep 24, 2026, price 105.00 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Kartonsan Karton Sanayi ve Ticaret A.S. (KARTN)?
Balance-sheet figures for Kartonsan Karton Sanayi ve Ticaret A.S. (as of Sep 24, 2026): return on equity −13.7%, debt of 0.21 per unit of equity. They feed the Quality Score of 31/100, which measures business quality independently of the share price.
How far is KARTN from its 52-week high?
Kartonsan Karton Sanayi ve Ticaret A.S. trades at 105.00 TRY, about 56% below its 52-week high of 238.30 TRY and 70% above the low of 61.65 TRY (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 21.86 TRY is for.
Which stocks are comparable to Kartonsan Karton Sanayi ve Ticaret A.S.?
From the same area (Consumer Cyclical) we also value Smurfit Westrock Plc,, Packaging Corporation, International Paper Company, Ball 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 Kartonsan Karton Sanayi ve Ticaret A.S. stock attractive at the current price?
The data as of Sep 24, 2026: price 105.00 TRY, calculated fair value 21.86 TRY (−79%), Quality Score 31/100, from 3 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 KARTN calculated?
We run Kartonsan Karton Sanayi ve Ticaret A.S. through 3 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 21.86 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 14.1 % above its aggregate fair value. Kartonsan Karton Sanayi ve Ticaret A.S. itself currently trades above fair value. 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 Kartonsan Karton Sanayi ve Ticaret A.S. (KARTN)?
The closing price on Sep 22, 2026 was 105.00 TRY. Our model-based fair value is 21.86 TRY, about −79% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kartonsan Karton Sanayi ve Ticaret A.S. right now?
The price sits above even our optimistic bull case (32.63 TRY). The favourable scenario is already priced in. Weak quality (31/100) and above fair value at the same time, the margin of safety is missing on both counts. 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 (16.31 TRY to 32.63 TRY) leaves room in how you read the outcome.
Key figures of Kartonsan Karton Sanayi ve Ticaret A.S.
How large is the market capitalisation of Kartonsan Karton Sanayi ve Ticaret A.S. (KARTN)?
The market capitalisation of Kartonsan Karton Sanayi ve Ticaret A.S. is 13.9B TRY (≈ $285M). 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 Kartonsan Karton Sanayi ve Ticaret A.S. (KARTN)?
The price-to-sales ratio of Kartonsan Karton Sanayi ve Ticaret A.S. is 3.93 (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 Kartonsan Karton Sanayi ve Ticaret A.S. (KARTN)?
Earnings per share at Kartonsan Karton Sanayi ve Ticaret A.S. are −5.09 TRY. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Kartonsan Karton Sanayi ve Ticaret A.S. (KARTN)?
The net margin of Kartonsan Karton Sanayi ve Ticaret A.S. is −28.9% (fiscal year 2025). 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 Kartonsan Karton Sanayi ve Ticaret A.S. (KARTN)?
The return on equity (ROE) of Kartonsan Karton Sanayi ve Ticaret A.S. is −13.7% (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 Kartonsan Karton Sanayi ve Ticaret A.S. (KARTN)?
On an EBIT basis the return on assets of Kartonsan Karton Sanayi ve Ticaret A.S. is −2.4% (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 Kartonsan Karton Sanayi ve Ticaret A.S. (KARTN)?
The operating margin of Kartonsan Karton Sanayi ve Ticaret A.S. is −30.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kartonsan Karton Sanayi ve Ticaret A.S. (KARTN)?
Revenue at Kartonsan Karton Sanayi ve Ticaret A.S. is growing −18.8% versus a year earlier (3y avg +6.1%). 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 Kartonsan Karton Sanayi ve Ticaret A.S. (KARTN)?
Earnings per share at Kartonsan Karton Sanayi ve Ticaret A.S. are growing −80.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Kartonsan Karton Sanayi ve Ticaret A.S. (KARTN) generate?
The free cash flow of Kartonsan Karton Sanayi ve Ticaret A.S. is −824M 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 Kartonsan Karton Sanayi ve Ticaret A.S. (KARTN) carry?
The net debt of Kartonsan Karton Sanayi ve Ticaret A.S. is 938M 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.
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