Koç Holding (KCHOL) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of Koç Holding TRY 328, price TRY 217, upside +51.5%, quality 29 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 27, 2026.
How to read this chart
60‑month range 15.53 TRY – 242.91 TRY · fair‑value band 246.04 TRY – 410.08 TRY · the 216.50 TRY price screens below the 328.07 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Koç Holding A.S., through its subsidiaries, engages in the energy, automotive, consumer durables, finance, and other businesses in Turkey and internationally.
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Koç Holding A.S., through its subsidiaries, engages in the energy, automotive, consumer durables, finance, and other businesses in Turkey and internationally. The company's energy business produces and trades in petroleum products; operates petroleum refineries; cylinder gas, auto gas, and distributes fuel and liquefied petroleum gases, as well as water products; ships petroleum; generates electricity through hydroelectric, natural gas, coal, wind, thermal, solar power and other renewable plants; air, sea, road, and railway transportation; mooring and tug services; and technology and venture investments. Its automotive business provides light commercial vehicles, passenger cars, tractors, buses, and trucks, as well as automotive retailing, car rental and trading, and insurance services. The company's consumer durables business offers white goods, televisions, and air conditioners; and distributes information and communication technologies, as well as treasury services. Its finance business provides various banking and financial products and services that include private banking, leasing, factoring, investment, asset and portfolio management, corporate and commercial loans, and credit cards; and consumer finance, custody, special purpose, brokerage, and financial consulting services. The company's other business offers fast moving consumer goods, purchasing and supply chain management services, technology integrated solutions and services, home improvement retailing, electric vehicle charging station solutions, food, retail, tourism, ship construction, healthcare, trading, technology, marina operation, digital marketing, duty free store management, payment services, and information technologies, as well as operates hotels, restaurants, pubs, cafeterias, patisseries, banquet units, bakeries, stadiums, residences, and production facilities; and manufactures and exports electric motors. Koç Holding A.S. was founded in 1926 and is headquartered in Istanbul, Turkey.
Stock analysis
Koç Holding (KCHOL) currently trades at 216.50 TRY, while our model-based Fair Value estimate is 328.07 TRY, implying the stock looks roughly 34.0% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 550.87 TRY per share, and 2 of the 7 models we run sit above the 216.50 TRY price.
Bear case: the Multiples group reads lowest at 147.54 TRY, and 5 of the 7 models stay below the price. Evidence for this calculation is low.
Scenario range: 246.04 TRY (bear) to 410.08 TRY (bull), the price of 216.50 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 29/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Koç Holding reported revenue of 2.8T TRL in FY2025 versus 347B TRL in FY2021, a compound +67.9%/yr. Reported net income was 22.0B TRL in FY2025, compounding +9.7%/yr from FY2021.
Key figures
Market cap 549B TRY (≈ $11.2B) · P/E ratio 23.6 · P/S ratio 0.19 · EPS (TTM) 9.16 TRY · Net margin 0.8% · Return on equity 6.1% · Return on assets (EBIT) 5.6% · Operating margin 6.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 4% below its 52-week high and 47% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −26% fair-value upside, at 52%, KCHOL screens cheaper than that median.
Fair Value models
Bear 246.04 TRYFair Value 328.07 TRYBull 410.08 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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (6.78 TRY per share) are deliberately not added.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.52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−9.1%
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.
+45.1%
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.
+71.9%
Start year 2020 (pandemic). Over 10 years: +44.5% a year
Revenue growth 25 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.
−25.6%
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What shareholders gained per year (last 5 years) ⓘ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. Basis: EBIT basis.
+49.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+49.4%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘ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.8% → 4%
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.Conglomerates · 356 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score29 · Bottom 25%
Fair Value upside+51.5% · Above median
Profitability
Return on equity (TTM)6.1% · Above median
Return on assets2.5% · Above median
Net margin (TTM)3.1% · Below median
Operating margin (TTM)6.4% · Above median
Growth and dividend
Revenue growth12.8% · Above median
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity0.87× · Highest 25%
Valuation Multiplesvs Conglomerates 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). "Koç Holding Fair Value". https://www.fairvalue-calculator.com/stock/KCHOL
Frequently asked questions
Is Koç Holding (KCHOL) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 328.07 TRY versus a price of 216.50 TRY, about +52% upside (undervalued).
What is the fair value of KCHOL?
Our model-based fair value for Koç Holding is 328.07 TRY (as of Sep 27, 2026), built from audited fundamentals. The current price: 216.50 TRY.
What is the quality score of KCHOL?
Koç Holding has a Quality Score of 29/100. 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 Koç Holding (KCHOL)?
Our model-based price target is the fair value of 328.07 TRY (as of Sep 27, 2026) from 7 valuation models. Cautious scenario 246.04 TRY, optimistic scenario 410.08 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Koç Holding stock forecast for 2026?
Our models put fair value at 328.07 TRY, about +52% upside versus a price of 216.50 TRY (undervalued). Cautious scenario 246.04 TRY, optimistic scenario 410.08 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Koç Holding (KCHOL)?
Koç Holding reported trailing-twelve-month revenue of about 2.9T TRY (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of Koç Holding (KCHOL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Koç Holding it is 328.07 TRY per share (as of Sep 27, 2026), against a price of 216.50 TRY. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is Koç Holding stock overvalued or undervalued in 2026?
As of Sep 27, 2026, KCHOL trades below its calculated fair value: price 216.50 TRY, fair value 328.07 TRY, a gap of about +52% (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 KCHOL?
No. The price is what the market pays today (216.50 TRY); the fair value is what the company's own numbers justify (328.07 TRY). For Koç Holding the two are 111.57 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Koç Holding worth?
The market values Koç Holding at about 549B TRY (market capitalisation, as of Sep 27, 2026). Per share that is 216.50 TRY; our models calculate a fair value of 328.07 TRY per share.
What do the bullish and bearish scenarios say about KCHOL?
Our models span a range for Koç Holding: cautious scenario 246.04 TRY, base 328.07 TRY, optimistic 410.08 TRY per share (as of Sep 27, 2026, price 216.50 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KCHOL?
Koç Holding trades at a price-to-earnings ratio of 23.6 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 328.07 TRY is built from several models across several years. Other multiples: PEG 0.5, P/B 0.8, P/S 0.3, EV/EBITDA 6.1.
What is the PEG ratio of KCHOL?
The PEG ratio of Koç Holding is 0.52 (P/E divided by earnings growth, as of Sep 27, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Koç Holding (KCHOL)?
Balance-sheet figures for Koç Holding (as of Sep 27, 2026): return on equity 6.1%, debt of 0.87 per unit of equity. They feed the Quality Score of 29/100, which measures business quality independently of the share price.
How far is KCHOL from its 52-week high?
Koç Holding trades at 216.50 TRY, about 4% below its 52-week high of 225.50 TRY and 47% above the low of 147.20 TRY (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of 328.07 TRY is for.
Which stocks are comparable to Koç Holding?
From the same area (Industrials) we also value ITOCHU Corporation, 3M Company, Honeywell International Inc, CITIC Limited, 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 Koç Holding stock attractive at the current price?
The data as of Sep 27, 2026: price 216.50 TRY, calculated fair value 328.07 TRY (+52%), Quality Score 29/100, from 7 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 KCHOL calculated?
We run Koç Holding through 7 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 328.07 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 13.9 % above its aggregate fair value. Koç Holding currently trades 52 % 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 Koç Holding (KCHOL)?
The closing price on Sep 25, 2026 was 216.50 TRY. Our model-based fair value is 328.07 TRY, about +52% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Koç Holding right now?
The large discount to fair value meets weak quality (29/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (246.04 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.
Key figures of Koç Holding
How large is the market capitalisation of Koç Holding (KCHOL)?
The market capitalisation of Koç Holding is 549B TRY (≈ $11.2B). 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 Koç Holding (KCHOL)?
The price-to-sales ratio of Koç Holding is 0.19 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Koç Holding (KCHOL)?
Earnings per share at Koç Holding are 9.16 TRY (price ÷ EPS = P/E 23.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Koç Holding (KCHOL)?
The net margin of Koç Holding is 0.8% (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 Koç Holding (KCHOL)?
The return on equity (ROE) of Koç Holding is 6.1% (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 Koç Holding (KCHOL)?
On an EBIT basis the return on assets of Koç Holding is 5.6% (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 Koç Holding (KCHOL)?
The operating margin of Koç Holding is 6.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Koç Holding (KCHOL)?
Revenue at Koç Holding is growing +12.8% versus a year earlier (3y avg +45.1%). 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 Koç Holding (KCHOL)?
Earnings per share at Koç Holding are growing +166% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Koç Holding (KCHOL) generate?
The free cash flow of Koç Holding is −205B 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 Koç Holding (KCHOL) carry?
The net debt of Koç Holding is 1.1T 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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