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Kalekim Kimyevi Maddeler Sanayi Ve Ticaret Anonim Sirketi (KLKIM) Fair Value & Analysis

Basic Materials · TR · Market cap 11.8B TRY

KK Kalekim Kimyevi Maddeler Sanayi Ve Ticaret Anonim Sirketi KLKIM · IS
Price25.50 TRY
Fair Value42.01 TRY
Upside+64.8%
Quality54/100
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Healthy Growth
Thin margins · 9.2% net margin
Low debt · generates free cash flow
2.58% dividend yield
Ranks above peers (10/11)
Moderate moat 56/100
Evidence: Medium Range 31.50 TRY – 52.51 TRY Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated today

Share price −10.0% over the past month.

A solid business, screening 65% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (31.50 TRY). The market is more pessimistic than our downside scenario.
  • Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

42.66 TRY 2.57 TRY Fair Value 42.01 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 2.57 TRY – 42.66 TRY · fair‑value band 31.50 TRY – 52.51 TRY · the 25.50 TRY price screens below the 42.01 TRY fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Kalekim Kimyevi Maddeler Sanayi Ve Ticaret Anonim Sirketi (KLKIM) currently trades at 25.50 TRY, while our model-based Fair Value estimate is 42.01 TRY, implying the stock looks roughly 64.8% undervalued today. The Quality Score stands at 54/100 (solid quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Kalekim Kimyevi Maddeler Sanayi Ve Ticaret Anonim Sirketi generated revenue of 10.5B TRY at a net margin of 9.2%. Revenue declined 7.9% year over year. It earns a return on equity of 16.0%. Net debt stands at 49.2M TRY. Fundamentals as of Aug 13, 2026

Our scenario range runs from 31.50 TRY (bear case) to 52.51 TRY (bull case); at 25.50 TRY, the current price sits below 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 41% below its 52-week high and 3% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at 65%, KLKIM 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
Growth DCF 44.69 TRY 83.16 TRY 146.21 TRY 80
Residual Income 16.52 TRY 22.42 TRY 89.99 TRY 76
Rev-Margin DCF 39.96 TRY 66.65 TRY 122.55 TRY 74
All 26 models by family
DCF Models
FCF DCF 47.15 TRY 70.98 TRY 146.83 TRY 38
Owner Earnings 27.67 TRY 55.80 TRY 114.86 TRY 31
5Y Revenue Exit 36.75 TRY 58.97 TRY 105.43 TRY 39
5Y EBITDA Exit 48.00 TRY 81.72 TRY 147.90 TRY 41
5Y P/E Exit 40.78 TRY 82.31 TRY 138.58 TRY 38
10Y Revenue Exit 39.23 TRY 78.17 TRY 102.55 TRY 36
10Y EBITDA Exit 48.55 TRY 102.41 TRY 196.68 TRY 37
10Y P/E Exit 43.29 TRY 86.87 TRY 157.76 TRY 35
Earnings-Based
Graham-Dodd 16.80 TRY 117.18 TRY 164.44 TRY 54
Lynch FV 60.54 TRY 86.48 TRY 112.43 TRY 50
PEG = 1.0 60.54 TRY 86.48 TRY 112.43 TRY 46
EPV 46.14 TRY 52.90 TRY 58.81 TRY 59
Dividend Discount
Gordon GGM 4.61 TRY 9.58 TRY 15.20 TRY 70
DDM Multi-Stage 4.61 TRY 8.08 TRY 10.06 TRY 61
Multiples
P/E Multiple 31.50 TRY 42.01 TRY 52.51 TRY 63
P/S Multiple 26.16 TRY 34.88 TRY 43.60 TRY 58
P/B Multiple 31.50 TRY 42.01 TRY 52.51 TRY 55
EV/EBIT 55.26 TRY 71.81 TRY 88.35 TRY 53
EV/EBITDA 46.68 TRY 60.37 TRY 74.05 TRY 54
EV/Revenue 30.03 TRY 40.50 TRY 50.96 TRY 43
Asset-Based
NCAV (Graham) 7.07 TRY 9.47 TRY 14.14 TRY 50
Growth DCF
Growth DCF 44.69 TRY 83.16 TRY 146.21 TRY 80
Rev-Margin DCF 39.96 TRY 66.65 TRY 122.55 TRY 74
Economic Profit
Residual Income 16.52 TRY 22.42 TRY 89.99 TRY 76
ROIC Compounder 56.50 TRY 80.84 TRY 112.48 TRY 72
Growth Earnings
Growth-Adj P/E 74.48 TRY 106.40 TRY 138.32 TRY 68

Widest divergence: Growth Earnings (106.40 TRY) versus Dividend Discount (8.08 TRY). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 10.5B TRY
Revenue growth (YoY) -7.9%
Net margin 9.2%
Return on equity 16.0%
Free cash flow 1.1B TRY FY2025
P/E ratio 1,281.0
More key figures
Operating margin 9.4%
EPS (TTM) 0.0200 TRY
Dividend yield 2.6%
EPS growth (YoY) -90.4%
Net debt 49.2M TRY FY2018

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

Quality Score breakdown

Overall quality 54/100

Of which business quality 57 · Market factors (momentum, volatility) 30

Profitability 69
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 60
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 23
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 14
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 40
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

Kalekim Kimyevi Maddeler Sanayi Ve Ticaret Anonim Sirketi operates in the construction chemicals sector in Turkey and internationally. It operates through the Construction Chemicals; and Concrete, Cement Chemicals, and Raw Materials segments.

Full company description

Kalekim Kimyevi Maddeler Sanayi Ve Ticaret Anonim Sirketi operates in the construction chemicals sector in Turkey and internationally. It operates through the Construction Chemicals; and Concrete, Cement Chemicals, and Raw Materials segments. Its product portfolio includes waterproofing products, such as cement -based, acrylic-based, bitumen-based, polyurethane-based, and membrane-based waterproofing products, as well as impregnated primers and waterproofing bands; tile adhesives, including cement, acrylic, and resin-based adhesives, as well as cement, epoxy, and resin-based grouts; and surface cleaning and maintenance products, sealants, and tile levelling systems. It also provides cement and epoxy-based repair mortars, cement and epoxy-based grout mortars, primers and additives, and cement-based smoothing screeds for technical applications; primers and coverings, industrial coverings, cement-based hardeners, surface hardeners, and curing materials for floor applications; decorative products, interior paints, exterior paints and plasters, surface preparation materials, and coloring systems for paints and decorative applications; and system components, adhesives and plasters, decorative coatings, and complementary accessories for thermal insulation applications. In addition, it offers bathroom, kitchen, pool, balcony and terrace, basement and foundation, floor, interior, and facade solutions; and assembly and sealing products. The company was incorporated in 1973 and is headquartered in Istanbul, Turkey. Kalekim Kimyevi Maddeler Sanayi Ve Ticaret Anonim Sirketi operates as a subsidiary of H. Ibrahim Bodur Holding Anonim Sirketi.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Kalekim Kimyevi Maddeler Sanayi Ve Ticaret Anonim Sirketi reported revenue of 10.7B TRY in FY2025 versus 810M TRY in FY2021, a compound +90.6%/yr. Reported net income was 1.1B TRY in FY2025, compounding +51.9%/yr from FY2021.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
10.7B TRY
Latest YoY
+9.1%
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.
+70.9%
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.
+82.6%
Avg. growth/yr (7Y) ⓘ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.
+63.2%
Revenue +90.6%/yr
FY21 810M TRY
FY22 2.1B TRY
FY23 6.7B TRY
FY24 9.8B TRY
FY25 10.7B TRY
Net income +51.9%/yr
FY21 213M TRY
FY22 507M TRY
FY23 621M TRY
FY24 1.2B TRY
FY25 1.1B TRY

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Kalekim Kimyevi Maddeler Sanayi Ve Ticaret Anonim Sirketi · Fair Value
42.01 TRY +65%Fair Value
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Cite: Fair Value Calculator (2026). "Kalekim Kimyevi Maddeler Sanayi Ve Ticaret Anonim Sirketi Fair Value". https://www.fairvalue-calculator.com/stock/KLKIM

Peer Group

Specialty Chemicals · 674 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 54 · Above median
Fair Value upside +65% · Top 25%
Return on equity (TTM) 16% · Top 25%
Return on assets 14% · Top 25%
Net margin (TTM) 9% · Above median
Operating margin (TTM) 9% · Above median
Revenue growth -8% · Bottom 25%
Dividend yield (TTM) 2.6% · Above median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/S (TTM) 0.02× · Cheaper than 75% of peers
P/FCF 0.2× · Cheaper 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 100 · sector 0
FUTURE 0 · sector 19
PAST 64 · sector 23
HEALTH 100 · sector 95
DIVIDEND 52 · sector 25

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

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Nan Ya Plastics Corporation 1303 181.50 TWD 255.83 TWD +41%
Wanhua Chemical Group 600309 ¥70.04 ¥68.03 -3%
Novozymes A/S NSISB kr 428.20 kr 179.66 -58%
Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,560 ₹351.84 -77%
PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%

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Frequently asked questions

Is Kalekim Kimyevi Maddeler Sanayi Ve Ticaret Anonim Sirketi (KLKIM) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 42.01 TRY versus a price of 25.50 TRY, about +65% (undervalued).
What is the fair value of KLKIM?
Our model-based fair value for Kalekim Kimyevi Maddeler Sanayi Ve Ticaret Anonim Sirketi is 42.01 TRY (as of Aug 13, 2026), built from audited fundamentals. The current price is 25.50 TRY.
What is the quality score of KLKIM?
Kalekim Kimyevi Maddeler Sanayi Ve Ticaret Anonim Sirketi has a Quality Score of 54/100. 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 Kalekim Kimyevi Maddeler Sanayi Ve Ticaret Anonim Sirketi (KLKIM)?
Kalekim Kimyevi Maddeler Sanayi Ve Ticaret Anonim Sirketi reported trailing-twelve-month revenue of about 10.5B TRY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of KLKIM?
The net profit margin of Kalekim Kimyevi Maddeler Sanayi Ve Ticaret Anonim Sirketi is about 9.2%, meaning it keeps roughly 9.2% of revenue as net income. Based on the latest reported figures.
Does Kalekim Kimyevi Maddeler Sanayi Ve Ticaret Anonim Sirketi pay a dividend?
Kalekim Kimyevi Maddeler Sanayi Ve Ticaret Anonim Sirketi currently shows a dividend yield of about 2.58% relative to its recent price (as of Aug 13, 2026).

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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