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Kuzey Boru Anonim Sirketi (KBORU) Fair Value & Analysis

Basic Materials · TR · Market cap 13.7B TRY

KB Kuzey Boru Anonim Sirketi KBORU · IS
Price21.22 TRY
Fair Value18.24 TRY
Upside-14.0%
Quality35/100
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Expensive Growth
Solidly profitable · 10.3% net margin
Low debt · negative free cash flow
Mixed vs. peers (6/12)
Narrow moat 42/100
Evidence: Medium Range 13.68 TRY – 22.79 TRY Share as image

Fair value as of: Aug 13, 2026

From 15 valuation models · updated today

Share price −18.4% over the past month.

Below-average quality, and screening another 14% overvalued on our models.

What matters now

  • Our model range runs from 13.68 TRY (bear) to 22.79 TRY (bull), base 18.24 TRY. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 35/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (3 years)

30.37 TRY 6.53 TRY Fair Value 18.24 TRY Dec 2023 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

32‑month range 6.53 TRY – 30.37 TRY · fair‑value band 13.68 TRY – 22.79 TRY · the 21.22 TRY price screens above the 18.24 TRY fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Kuzey Boru Anonim Sirketi (KBORU) currently trades at 21.22 TRY, while our model-based Fair Value estimate is 18.24 TRY, implying the stock looks roughly 14.0% overvalued today. The Quality Score stands at 35/100 (below-average quality), in the Basic Materials 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, Kuzey Boru Anonim Sirketi generated revenue of 5.9B TRY at a net margin of 10.3%. Revenue grew 41.4% year over year. It earns a return on equity of 13.9%. Net debt stands at 2.0B TRY. Fundamentals as of Aug 13, 2026

Our scenario range runs from 13.68 TRY (bear case) to 22.79 TRY (bull case); at 21.22 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 25% below its 52-week high and 63% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -59% fair-value upside, at -14%, KBORU 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 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
Highest evidence
Residual Income 7.31 TRY 9.56 TRY 26.83 TRY 76
ROIC Compounder 6.97 TRY 9.56 TRY 12.80 TRY 72
Growth-Adj P/E 33.86 TRY 48.38 TRY 62.89 TRY 68
All 15 models by family
DCF Models
Owner Earnings 10.02 TRY 23.55 TRY 51.96 TRY 31
Earnings-Based
Graham-Dodd 7.29 TRY 50.87 TRY 71.39 TRY 54
Lynch FV 26.28 TRY 37.54 TRY 48.81 TRY 50
PEG = 1.0 26.28 TRY 37.54 TRY 48.81 TRY 46
EPV 6.97 TRY 8.23 TRY 9.33 TRY 59
Multiples
P/E Multiple 16.09 TRY 21.45 TRY 26.82 TRY 63
P/S Multiple 13.68 TRY 18.24 TRY 22.79 TRY 58
P/B Multiple 13.68 TRY 18.24 TRY 22.79 TRY 55
EV/EBIT 12.98 TRY 17.50 TRY 22.02 TRY 53
EV/EBITDA 12.83 TRY 17.30 TRY 21.78 TRY 54
EV/Revenue 8.56 TRY 12.48 TRY 16.40 TRY 43
Asset-Based
NCAV (Graham) 3.71 TRY 4.97 TRY 7.41 TRY 50
Economic Profit
Residual Income 7.31 TRY 9.56 TRY 26.83 TRY 76
ROIC Compounder 6.97 TRY 9.56 TRY 12.80 TRY 72
Growth Earnings
Growth-Adj P/E 33.86 TRY 48.38 TRY 62.89 TRY 68

Widest divergence: Growth Earnings (48.38 TRY) versus Asset-Based (4.97 TRY). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 5.9B TRY
Revenue growth (YoY) +41.4%
Net margin 10.3%
Return on equity 13.9%
Free cash flow −1.9B TRY FY2026
P/E ratio 22.8
More key figures
Operating margin 6.8%
EPS (TTM) 1.00 TRY
EPS growth (YoY) -14.5%
Net debt 2.0B TRY FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 35/100

Of which business quality 35 · Market factors (momentum, volatility) 62

Profitability 41
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 48
Balance sheet, leverage, solvency risk
Investment 21
Disciplined investing over empire-building
Low Volatility 65
Calm price path (market factor)
Momentum 59
Price trend over the last 3–12 months (market factor)
52W Momentum 63
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

Kuzey Boru Anonim Sirketi produces and sells plastic pipes and fittings in Turkey and internationally. It provides steel, drawn pipes, concrete pipes, polyethylene pipes, polypropylene pipes, ductile pipes, and related products.

Full company description

Kuzey Boru Anonim Sirketi produces and sells plastic pipes and fittings in Turkey and internationally. It provides steel, drawn pipes, concrete pipes, polyethylene pipes, polypropylene pipes, ductile pipes, and related products. The company also offers infrastructure pipe systems, such as GRP pipe and fittings, corrugated pipe and fittings, HDPE pipe and fittings, telecommunication pipes and fittings and superstructure pipe systems, including PPR pipe and fittings, PVC-U pipe and fittings, and underfloor heating pipes and fittings. Additionally, it provides logistics, engineering services, after-sales services, accredited laboratory services, and project specific production. The company was founded in 2001 and is based in Aksaray, Turkey.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Kuzey Boru Anonim Sirketi reported revenue of 5.3B TRY in FY2026 versus 226M TRY in FY2022, a compound +119.8%/yr. Reported net income was 644M TRY in FY2026, compounding +225.2%/yr from FY2022.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
5.3B TRY
Latest YoY
+2.1%
Avg. growth/yr (3Y) 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.
+52.9%
Avg. growth/yr (5Y) 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.
+118.4%
Revenue +119.8%/yr
FY22 226M TRY
FY23 1.5B TRY
FY24 3.0B TRY
FY25 5.2B TRY
FY26 5.3B TRY
Net income +225.2%/yr
FY22 5.8M TRY
FY23 202M TRY
FY24 317M TRY
FY25 849M TRY
FY26 644M TRY

KBORU screens 14% overvalued. Compare with CRH plc →

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Cite: Fair Value Calculator (2026). "Kuzey Boru Anonim Sirketi Fair Value". https://www.fairvalue-calculator.com/stock/KBORU

Peer Group

Building Materials · 259 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 35 · Bottom 25%
Fair Value upside −14% · Below median
Return on equity (TTM) 14% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 10% · Top 25%
Operating margin (TTM) 7% · Above median
Revenue growth 41% · Top 25%
Debt / equity 0.15× · Lower than median

Valuation Multiples vs Building Materials median · lower = cheaper

P/E (TTM) 22.8× · Pricier than median
P/B 3.07× · Pricier than 75% of peers
P/S (TTM) 2.32× · Pricier than 75% of peers
EV/EBITDA 20.0× · Pricier than 75% of peers

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 15 · sector 24
FUTURE 100 · sector 1
PAST 56 · sector 15
HEALTH 93 · sector 92
DIVIDEND 0 · sector 44

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 Building Materials stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
CRH plc CRH $102.92 $70.57 -31%
UltraTech Cement Limited ULTRACEMCO ₹11,711 ₹4,719 -60%
China Jushi Co 600176 ¥54.52 ¥13.95 -74%
Grasim Industries Limited GRASIM ₹3,073 ₹1,245 -59%
CEMEX, S.A. CEMEXCPO 21.71 MXN 15.42 MXN -29%
Anhui Conch Cement Company 600585 ¥16.99 ¥26.14 +54%
Ambuja Cements Limited AMBUJACEM ₹435.25 ₹227.96 -48%
Shree Cement Limited SHREECEM ₹26,930 ₹8,215 -69%
TCC Group 1101B 43.70 TWD 10.48 TWD -76%
Taiwan Glass Ind. Corp 1802 53.30 TWD 13.98 TWD -74%

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Frequently asked questions

Is Kuzey Boru Anonim Sirketi (KBORU) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 18.24 TRY versus a price of 21.22 TRY, about −14% (overvalued).
What is the fair value of KBORU?
Our model-based fair value for Kuzey Boru Anonim Sirketi is 18.24 TRY (as of Aug 13, 2026), built from audited fundamentals. The current price is 21.22 TRY.
What is the quality score of KBORU?
Kuzey Boru Anonim Sirketi has a Quality Score of 35/100. 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 revenue of Kuzey Boru Anonim Sirketi (KBORU)?
Kuzey Boru Anonim Sirketi reported trailing-twelve-month revenue of about 5.9B TRY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of KBORU?
The net profit margin of Kuzey Boru Anonim Sirketi is about 10.3%, meaning it keeps roughly 10.3% of revenue as net income. 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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