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Kervansaray Yatirim Holding (KERVN) Fair Value & Analysis

Consumer Cyclical · TR · Market cap 6.3B TRY

KY Kervansaray Yatirim Holding KERVN · IS
Price10.70 TRY
Fair Value6.21 TRY
Upside-42.0%
Quality41/100
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Weak Growth
Thin margins · 0.0% net margin
Negative equity (buybacks among others) · generates free cash flow
Mixed vs. peers (4/9)
Wide moat 80/100
Evidence: Low Range 3.82 TRY – 9.55 TRY Share as image

Fair value as of: Aug 13, 2026

From 2 valuation models · updated today

Share price +59.9% over the past month.

Below-average quality, and screening another 42% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (9.55 TRY). The favourable scenario is already priced in.
  • Weak quality (41/100) 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 (3.82 TRY to 9.55 TRY) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

11.00 TRY 0.4100 TRY Fair Value 6.21 TRY May 2021 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

60‑month range 0.4100 TRY – 11.00 TRY · fair‑value band 3.82 TRY – 9.55 TRY · the 10.70 TRY price screens above the 6.21 TRY fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Kervansaray Yatirim Holding (KERVN) currently trades at 10.70 TRY, while our model-based Fair Value estimate is 6.21 TRY, implying the stock looks roughly 42.0% overvalued today. The Quality Score stands at 41/100 (below-average quality), in the Consumer Cyclical 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: low).

Revenue declined 66.4% year over year. It earns a return on equity of 59.9%. Net debt stands at 2.4B TRY. The stock trades on a trailing P/E of 2.0. Fundamentals as of Aug 13, 2026

Our scenario range runs from 3.82 TRY (bear case) to 9.55 TRY (bull case); at 10.70 TRY, the current price sits above 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 3% below its 52-week high, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -3% fair-value upside, at -42%, KERVN screens richer 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
Growth DCF 3.95 TRY 6.21 TRY 9.88 TRY 80
FCF DCF 3.67 TRY 6.21 TRY 10.16 TRY 38
All 2 models by family
DCF Models
FCF DCF 3.67 TRY 6.21 TRY 10.16 TRY 38
Growth DCF
Growth DCF 3.95 TRY 6.21 TRY 9.88 TRY 80

Widest divergence: DCF Models (6.21 TRY) versus DCF Models (6.21 TRY). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) −172K TRY
Revenue growth (YoY) -66.4%
Return on equity 59.9%
Free cash flow 14.0M TRY FY2023
P/E ratio 2.0
Operating margin -552,390%
More key figures
EPS (TTM) 5.30 TRY
EPS growth (YoY) +195%
Net debt 2.4B TRY FY2022

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

Quality Score breakdown

Overall quality 41/100

Of which business quality 32 · Market factors (momentum, volatility) 85

Profitability 25
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 19
Earnings quality: real cash, not paper profit
Fin. Strength 0
Balance sheet, leverage, solvency risk
Investment 50
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 98
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

Kervansaray Yatirim Holding A.S. is a holding company, engages in providing consultancy in investment, financing, marketing, organization, and management. It also involves in renting out hotels in Turkey. Kervansaray Yatirim Holding A.S. was formerly known as Ceylan Yatirim Holding AS and changed its name to Kervansaray Yatirim Holding A.S. in 2013.

Full company description

Kervansaray Yatirim Holding A.S. is a holding company, engages in providing consultancy in investment, financing, marketing, organization, and management. It also involves in renting out hotels in Turkey. Kervansaray Yatirim Holding A.S. was formerly known as Ceylan Yatirim Holding AS and changed its name to Kervansaray Yatirim Holding A.S. in 2013. The company was incorporated in 1976 and is based in Istanbul, Turkey.

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

Revenue & earnings trend

FY2019 – FY2023 · reported fiscal years

Kervansaray Yatirim Holding reported revenue of −68.5M TRY in FY2023 versus 129M TRY in FY2019. Reported net income was −264M TRY in FY2023.

Growth Quality 22/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2022)
7.1K TRY
Latest YoY
−100.0%
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.
−96.2%
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.
−84.8%
Avg. growth/yr (17Y) 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.
−39.9%
Revenue
FY19 129M TRY
FY20 53.1M TRY
FY21 74.0M TRY
FY22 7.1K TRY
FY23 −68.5M TRY
Net income
FY19 −122M TRY
FY20 −403M TRY
FY21 −40.2M TRY
FY22 179M TRY
FY23 −264M TRY

KERVN screens 42% overvalued. Compare with Shenzhou International Group →

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Cite: Fair Value Calculator (2026). "Kervansaray Yatirim Holding Fair Value". https://www.fairvalue-calculator.com/stock/KERVN

Peer Group

Textile Manufacturing · 315 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 41 · Bottom 25%
Fair Value upside −42% · Below median
Return on equity (TTM) 60% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 0% · Below median
Revenue growth -66% · Bottom 25%

Valuation Multiples vs Textile Manufacturing median · lower = cheaper

P/E (TTM) 2.0× · Cheaper than 75% of peers
P/FCF 9.5× · 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 0 · sector 7
FUTURE 0 · sector 0
PAST 100 · sector 15
HEALTH 100 · sector 95
DIVIDEND 0 · sector 34

VALUE 0: the price sits above our fair-value range.

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

Stock Price Fair Value vs Fair Value
Shenzhou International Group 2313 HK$44.40 HK$75.65 +70%
Tongkun Group 601233 ¥23.56 ¥14.53 -38%
Inner Mongolia ERDOS Resources Co 600295 ¥12.04 ¥14.35 +19%
Far Eastern New Century Corporation 1402 27.55 TWD 28.72 TWD +4%
K.P.R. Mill Limited KPRMILL ₹1,083 ₹467.49 -57%
HMT (Xiamen) New Technical Materials Co 603306 ¥78.00 ¥11.85 -85%
Zhejiang Orient Holdings 600120 ¥5.18 ¥2.21 -57%
Vardhman Textiles Limited VTL ₹602.20 ₹437.53 -27%
Isiklar Enerji ve Yapi Holding IEYHO 174.20 TRY 323.84 TRY +86%
Bros Eastern.,Ltd 601339 ¥8.08 ¥7.87 -3%

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Frequently asked questions

Is Kervansaray Yatirim Holding (KERVN) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 6.21 TRY versus a price of 10.70 TRY, about −42% (overvalued).
What is the fair value of KERVN?
Our model-based fair value for Kervansaray Yatirim Holding is 6.21 TRY (as of Aug 13, 2026), built from audited fundamentals. The current price is 10.70 TRY.
What is the quality score of KERVN?
Kervansaray Yatirim Holding has a Quality Score of 41/100. 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 net profit margin of KERVN?
The net profit margin of Kervansaray Yatirim Holding is about 0.0%, meaning it keeps roughly 0.0% 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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