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LKMNH fair value: what the stock is really worth

As of Sep 25, 2026: fair value of LKMNH TRY 9.45, price TRY 12.28, upside -23.1%, quality 28 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Healthcare · TR · ISIN TRELKMH00013

L Thin data Sep 24, 2026

LKMNH

LKMNH · IS

Weak valuationQuality is weak on top of the rich price.

!Fair value 9.45 TRY · Overvalued (−23.1%)
!Quality 28/100
!Expensive Growth (revenue 5y +68.0 %/yr)
!Thin margins · 3.2% net margin (TTM)
!Low debt · negative free cash flow
✓Ranks above peers (9/13)
!Narrow moat 42/100
!Evidence only low, so the estimate is less certain
!Weak on valuation: 3 out of 100
!Weak on past: 21 out of 100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

20.99 TRY 1.30 TRY Fair Value 9.45 TRY Jun 2021 Sep 2026

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 1.30 TRY – 20.99 TRY · fair‑value band 7.30 TRY – 10.17 TRY · the 12.28 TRY price screens above the 9.45 TRY fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Lokman Hekim Engürüsag Saglik, Turizm, Egitim Hizmetleri ve Insaat Taahhüt A.S., together with its subsidiaries, operates hospitals, medical centers, laboratories, and medical units in Turkey. The company offers health care; e-health; imaging and diagnostic; and logistics and support services.

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Lokman Hekim Engürüsag Saglik, Turizm, Egitim Hizmetleri ve Insaat Taahhüt A.S., together with its subsidiaries, operates hospitals, medical centers, laboratories, and medical units in Turkey. The company offers health care; e-health; imaging and diagnostic; and logistics and support services. It is also involved in the insurance and brokerage; construction and tourism; production of milk; raising of livestock; sale of feeds; and hospital rental businesses. Lokman Hekim Engürüsag Saglik, Turizm, Egitim Hizmetleri ve Insaat Taahhüt A.S. was incorporated in 1996 and is based in Ankara, Turkey.

Stock analysis

LKMNH (LKMNH) currently trades at 12.28 TRY, while our model-based Fair Value estimate is 9.45 TRY, implying the stock looks roughly 30.0% overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of 32.34 TRY per share, and 9 of the 16 models we run sit above the 12.28 TRY price.

Bear case: the Dividend Discount group reads lowest at 6.11 TRY, and 7 of the 16 models stay below the price. Evidence for this calculation is low.

Scenario range: 7.30 TRY (bear) to 10.17 TRY (bull), the price of 12.28 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 28/100 (below-average quality), in the Healthcare sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

LKMNH reported revenue of 4.2B TRY in FY2025 versus 453M TRY in FY2021, a compound +74.8%/yr. Reported net income was 150M TRY in FY2025, compounding +21.0%/yr from FY2021.

Key figures

Market cap 2.9B TRY (≈ $59.4M) · P/E ratio 18.9 · P/S ratio 0.67 · EPS (TTM) 0.6500 TRY · Dividend yield 4.1% · Net margin 3.6% · Return on equity 5.2% · Return on assets (EBIT) 10.4%.

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 35% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at 21% fair-value upside, at −23%, LKMNH screens richer than that median.

Fair Value models

Bear 7.30 TRY Fair Value 9.45 TRY Bull 10.17 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 (0.4808 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.
Highest evidence
EPV 10.70 TRY 12.12 TRY 13.27 TRY 74
Residual Income 7.97 TRY 8.11 TRY 8.54 TRY 74
ROIC Compounder 10.70 TRY 13.66 TRY 16.46 TRY 70
All 16 models by family
Earnings-Based
Graham-Dodd 4.73 TRY 33.01 TRY 46.32 TRY 61
Lynch FV 17.05 TRY 24.36 TRY 31.67 TRY 59
PEG = 1.0 17.05 TRY 24.36 TRY 31.67 TRY 55
EPV 10.70 TRY 12.12 TRY 13.27 TRY 74
Dividend Discount
Gordon GGM 3.85 TRY 6.44 TRY 8.36 TRY 66
DDM Multi-Stage 3.85 TRY 6.11 TRY 6.93 TRY 65
Multiples
P/E Multiple 11.48 TRY 15.31 TRY 19.14 TRY 63
P/S Multiple 8.87 TRY 11.83 TRY 14.79 TRY 58
P/B Multiple 8.87 TRY 11.83 TRY 14.79 TRY 55
EV/EBIT 22.30 TRY 30.09 TRY 37.89 TRY 66
EV/EBITDA 42.85 TRY 57.49 TRY 72.14 TRY 67
EV/Revenue 15.60 TRY 22.76 TRY 29.91 TRY 53
Asset-Based
NCAV (Graham) 5.48 TRY 7.34 TRY 10.95 TRY 54
Economic Profit
Residual Income 7.97 TRY 8.11 TRY 8.54 TRY 74
ROIC Compounder 10.70 TRY 13.66 TRY 16.46 TRY 70
Growth Earnings
Growth-Adj P/E 22.64 TRY 32.34 TRY 42.04 TRY 65

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Quality Score breakdown

Overall quality 28/100

Of which business quality 30 · Market factors (momentum, volatility) 33

Profitability 33
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 27
Earnings quality: real cash, not paper profit
Fin. Strength 33
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 18
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 40
Share count: buybacks or dilution?

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Revenue & earnings trend

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
+10.0%
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.
+71.1%
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.
+68.0%
Start year 2020 (pandemic). Over 10 years: +40.5% a year
Revenue growth 16 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.
+31.2%
What shareholders gained per year (last 5 years), in TRY ⓘ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. Measured in TRY: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−3.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−7.7%
Dividend (yield on the price)4.1%
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.15% → 9%

LKMNH screens 30% overvalued. Compare with HCA Healthcare, Inc →

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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.Medical Care Facilities · 256 stocks

Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 28 · Bottom 25%
Fair Value upside −23.0% · Below median
Profitability
Return on equity (TTM) 5.2% · Below median
Return on assets 6.1% · Above median
Net margin (TTM) 3.2% · Below median
Operating margin (TTM) 19.2% · Top 25%
Growth and dividend
Revenue growth 37.8% · Top 25%
Dividend yield (TTM) 4.1% · Top 25%
Balance sheet
Debt / equity 0.17× · Below median

Valuation Multiplesvs Medical Care Facilities median · lower = cheaper

P/E (TTM) 18.9× · Cheaper than median
P/B 1.23× · Cheaper than median
P/S (TTM) 0.67× · Cheaper than median
EV/EBITDA 3.7× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)3 · sector 33
FUTURE (revenue growth)100 · sector 28
PAST (return on equity)21 · sector 31
HEALTH (low debt)92 · sector 89
DIVIDEND (yield)82 · sector 41

Context: sector, industry, market

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

Similar stocks

10 more Medical Care Facilities stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
HCA Healthcare, Inc HCA $435.61 $597.97 +37%
Fresenius SE FRE €46.15 €34.49 −25%
Dr. Sulaiman Al Habib Medical Services Group 4013 225.00 SAR 109.45 SAR −51%
Tenet Healthcare Corporation THC $259.71 $274.35 +6%
Apollo Hospitals Enterprise Limited APOLLOHOSP ₹8,889 ₹2,908 −67%
Encompass Health Corporation EHC $123.47 $94.47 −23%
Fresenius Medical Care AG FMS $22.69 $46.11 +103%
DaVita Inc DVA $178.47 $215.81 +21%
Aier Eye Hospital Group 300015 ¥7.91 ¥10.86 +37%
Universal Health Services, Inc UHS $178.86 $444.19 +148%

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Cite: Fair Value Calculator (2026). "LKMNH Fair Value". https://www.fairvalue-calculator.com/stock/LKMNH

Frequently asked questions

Is LKMNH overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 9.45 TRY versus a price of 12.28 TRY, about −23% upside (overvalued).
What is the fair value of LKMNH?
Our model-based fair value for LKMNH is 9.45 TRY (as of Sep 24, 2026), built from audited fundamentals. The current price: 12.28 TRY.
What is the quality score of LKMNH?
LKMNH has a Quality Score of 28/100. 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 LKMNH?
Our model-based price target is the fair value of 9.45 TRY (as of Sep 24, 2026) from 16 valuation models. Cautious scenario 7.30 TRY, optimistic scenario 10.17 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the LKMNH stock forecast for 2026?
Our models put fair value at 9.45 TRY, about −23% upside versus a price of 12.28 TRY (overvalued). Cautious scenario 7.30 TRY, optimistic scenario 10.17 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of LKMNH?
LKMNH reported trailing-twelve-month revenue of about 4.4B TRY (latest available figure, as of Sep 24, 2026).
Does LKMNH pay a dividend?
LKMNH currently shows a dividend yield of about 4.11% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of LKMNH?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For LKMNH it is 9.45 TRY per share (as of Sep 24, 2026), against a price of 12.28 TRY. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is LKMNH stock overvalued or undervalued in 2026?
As of Sep 24, 2026, LKMNH trades above its calculated fair value: price 12.28 TRY, fair value 9.45 TRY, a gap of about −23% (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 LKMNH?
No. The price is what the market pays today (12.28 TRY); the fair value is what the company's own numbers justify (9.45 TRY). For LKMNH the two are 2.83 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is LKMNH worth?
The market values LKMNH at about 2.9B TRY (market capitalisation, as of Sep 24, 2026). Per share that is 12.28 TRY; our models calculate a fair value of 9.45 TRY per share.
What do the bullish and bearish scenarios say about LKMNH?
Our models span a range for LKMNH: cautious scenario 7.30 TRY, base 9.45 TRY, optimistic 10.17 TRY per share (as of Sep 24, 2026, price 12.28 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of LKMNH?
LKMNH trades at a price-to-earnings ratio of 18.9 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 9.45 TRY is built from several models across several years. Other multiples: P/B 1.2, P/S 0.7, EV/EBITDA 3.7.
How solid is the balance sheet of LKMNH?
Balance-sheet figures for LKMNH (as of Sep 24, 2026): return on equity 5.2%, debt of 0.17 per unit of equity. They feed the Quality Score of 28/100, which measures business quality independently of the share price.
How far is LKMNH from its 52-week high?
LKMNH trades at 12.28 TRY, about 35% below its 52-week high of 18.91 TRY and 5% above the low of 11.69 TRY (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of 9.45 TRY is for.
Which stocks are comparable to LKMNH?
From the same area (Healthcare) we also value HCA Healthcare, Inc, Fresenius SE, Dr. Sulaiman Al Habib Medical Services Group, Tenet Healthcare 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 LKMNH stock attractive at the current price?
The data as of Sep 24, 2026: price 12.28 TRY, calculated fair value 9.45 TRY (−23%), Quality Score 28/100, from 16 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 LKMNH calculated?
We run LKMNH through 16 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 9.45 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. LKMNH 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 LKMNH?
The closing price on Sep 25, 2026 was 12.28 TRY. Our model-based fair value is 9.45 TRY, about −23% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with LKMNH right now?
The price sits above even our optimistic bull case (10.17 TRY). The favourable scenario is already priced in. Weak quality (28/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of LKMNH

How large is the market capitalisation of LKMNH?
The market capitalisation of LKMNH is 2.9B TRY (≈ $59.4M). 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 LKMNH?
The price-to-sales ratio of LKMNH is 0.67 (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 LKMNH?
Earnings per share at LKMNH are 0.6500 TRY (price ÷ EPS = P/E 18.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of LKMNH?
The dividend yield of LKMNH is 4.1% (payout 77.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of LKMNH?
The net margin of LKMNH is 3.6% (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 LKMNH?
The return on equity (ROE) of LKMNH is 5.2% (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 LKMNH?
On an EBIT basis the return on assets of LKMNH is 10.4% (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 LKMNH?
The operating margin of LKMNH is 19.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at LKMNH?
Revenue at LKMNH is growing +37.8% versus a year earlier (3y avg +71.1%). 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 LKMNH?
Earnings per share at LKMNH are growing −76.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does LKMNH generate?
The free cash flow of LKMNH is −706M 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 LKMNH carry?
The net debt of LKMNH is 2.2B 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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