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Loras Holding (LRSHO) fair value: what the stock is really worth

As of Sep 25, 2026: fair value of Loras Holding TRY 3.98, price TRY 1.99, upside +100.0%, quality 21 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Industrials · TR · ISIN TREITFK00018

LH Thin data Sep 27, 2026

Loras Holding

LRSHO · IS

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value 3.98 TRY · Strongly undervalued (+100.0%)
!Quality 21/100
!Mixed Growth (revenue 5y +50.0 %/yr)
!Loss-making · -12.0% net margin (TTM)
✓Low debt · generates free cash flow
!Mixed vs. peers (4/9)
!Narrow moat 4/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

7.42 TRY 0.7058 TRY Fair Value 3.98 TRY Jun 2021 Sep 2026

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 0.7058 TRY – 7.42 TRY · fair‑value band 2.85 TRY – 5.38 TRY · the 1.99 TRY price screens below the 3.98 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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Company profile

Loras Holding A.S. engages in the food, construction, real estate investment, machinery, and energy businesses in Turkey. It produces and markets feed mills machinery; produces flour; and rents real estate properties.

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Loras Holding A.S. engages in the food, construction, real estate investment, machinery, and energy businesses in Turkey. It produces and markets feed mills machinery; produces flour; and rents real estate properties. The company is also involved in the development, rental, and facility management of real estate projects, such as residences, offices, business centers, industrial centers, and shopping centers; and undertaking projects, including housing, industrial and healthcare buildings, shopping malls, art buildings, road and bridge constructions, and steel construction structures. In addition, the company manages a business and shopping center; operates shopping and entertainment center; and offers supply and marketing services. Further, it produces and sells ERP, MRP, MRP2, web technologies, handheld terminal applications, mobile applications, CRM, e-government, e-invoice, and e-ledger solutions; turnkey milling, turnkey feed mills, and band/circular sawing machines, as well as pasta. The company was formerly known as Ittifak Holding A.S. and changed its name to Loras Holding A.S. in 2023. Loras Holding A.S. was founded in 1988 and is headquartered in Konya, Turkey.

Stock analysis

Loras Holding (LRSHO) currently trades at 1.99 TRY, while our model-based Fair Value estimate is 3.98 TRY, implying the stock looks roughly 50.0% undervalued today.

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Valuation

Bull case: the Growth DCF group reads highest at a median of 18.03 TRY per share, and 3 of the 3 models we run sit above the 1.99 TRY price.

Bear case: the Asset-Based group reads lowest at 5.94 TRY, and 0 of the 3 models stay below the price. Evidence for this calculation is low.

Scenario range: 2.85 TRY (bear) to 5.38 TRY (bull), the price of 1.99 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 21/100 (below-average quality), in the Industrials sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Loras Holding reported revenue of 6.3B TRY in FY2025 versus 696M TRY in FY2021, a compound +73.1%/yr. Reported net income was −398M TRY in FY2025.

Key figures

Market cap 2.1B TRY (≈ $42.5M) · P/S ratio 0.31 · EPS (TTM) −1.03 TRY · Net margin −6.4% · Return on equity −6.6% · Return on assets (EBIT) 0.1% · Operating margin −16.0% · Revenue (TTM) 6.6B TRY.

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 70% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −16% fair-value upside, at 100%, LRSHO screens cheaper than that median.

Fair Value models

Bear 2.85 TRY Fair Value 3.98 TRY Bull 5.38 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. 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
Growth DCF 16.89 TRY 31.55 TRY 55.16 TRY 73
Rev-Margin DCF 11.14 TRY 18.03 TRY 32.54 TRY 68
NCAV (Graham) 4.43 TRY 5.94 TRY 8.87 TRY 54
All 3 models by family
Asset-Based
NCAV (Graham) 4.43 TRY 5.94 TRY 8.87 TRY 54
Growth DCF
Growth DCF 16.89 TRY 31.55 TRY 55.16 TRY 73
Rev-Margin DCF 11.14 TRY 18.03 TRY 32.54 TRY 68

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Quality Score breakdown

Overall quality 21/100

Of which business quality 26 · Market factors (momentum, volatility) 16

Profitability 6
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 36
Earnings quality: real cash, not paper profit
Fin. Strength 25
Balance sheet, leverage, solvency risk
Investment 22
Disciplined investing over empire-building
Low Volatility 53
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 0
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. 62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+2.8%
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.
+32.9%
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.
+50.0%
Start year 2020 (pandemic)
Profit margin (trend) ⓘ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.
−3.7% (2020) → 7.8% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

Growth Forecast

Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−11.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Turkey: IMF forecast 19.3% a year to 2030, 28.5% from 2016 to 2025) that is about −26.2% a year for the price.

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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 4/8 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 21 · Bottom 25%
Fair Value upside +107.0% · Top 25%
Profitability
Return on assets 0.6% · Below median
Net margin (TTM) −12.0% · Bottom 25%
Operating margin (TTM) −16.0% · Bottom 25%
Growth and dividend
Revenue growth 28.3% · Top 25%
Balance sheet
Debt / equity 0.01× · Lowest 25%

Valuation Multiplesvs Conglomerates median · lower = cheaper

P/FCF 0.1× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 33
FUTURE (revenue growth)100 · sector 19
PAST (return on equity)0 · sector 18
HEALTH (low debt)100 · sector 90
DIVIDEND (yield)0 · 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

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Keppel Ltd BN4 11.30 SGD 3.88 SGD −66%
Kingdom Holding 4280 13.08 SAR 13.40 SAR +2%
Koç Holding KCHOL 216.50 TRY 182.26 TRY −16%

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Loras Holding · Fair Value
3.98 TRY +50%Fair Value
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Cite: Fair Value Calculator (2026). "Loras Holding Fair Value". https://www.fairvalue-calculator.com/stock/LRSHO

Frequently asked questions

Is Loras Holding (LRSHO) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 3.98 TRY versus a price of 1.99 TRY, about +100% upside (undervalued).
What is the fair value of LRSHO?
Our model-based fair value for Loras Holding is 3.98 TRY (as of Sep 27, 2026), built from audited fundamentals. The current price: 1.99 TRY.
What is the quality score of LRSHO?
Loras Holding has a Quality Score of 21/100. 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 Loras Holding (LRSHO)?
Our model-based price target is the fair value of 3.98 TRY (as of Sep 27, 2026) from 3 valuation models. Cautious scenario 2.85 TRY, optimistic scenario 5.38 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Loras Holding stock forecast for 2026?
Our models put fair value at 3.98 TRY, about +100% upside versus a price of 1.99 TRY (undervalued). Cautious scenario 2.85 TRY, optimistic scenario 5.38 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Loras Holding (LRSHO)?
Loras Holding reported trailing-twelve-month revenue of about 6.6B TRY (latest available figure, as of Sep 27, 2026).
What growth is priced into Loras Holding (LRSHO)?
For today's price to be fair in a discounted-cash-flow model, Loras Holding would have to grow free cash flow by -11.9 % per year for five years (discount rate 13.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +50.0 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of LRSHO use?
Our models discount Loras Holding at 13.2 %: a base by market capitalisation (nano), damped by beta 0.74, country premium for Turkey. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Loras Holding that is -11.9 % per year a year over ten years, using the same discount rate (13.2 %) and the same formula as our fair value.
How much growth has Loras Holding (LRSHO) delivered so far?
Over the past 5 years revenue at Loras Holding grew +50.0 % a year. The price currently implies -11.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Loras Holding (LRSHO) growing?
The median revenue growth in the sector is +5.1 % a year. That is the yardstick for the growth priced into Loras Holding (-11.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Loras Holding (LRSHO)?
The free-cash-flow yield on the price is 25.72 %: that much free cash flow Loras Holding produces per unit of market value. When it exceeds the discount rate of our models (13.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Loras Holding (LRSHO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Loras Holding it is 3.98 TRY per share (as of Sep 27, 2026), against a price of 1.99 TRY. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Loras Holding stock overvalued or undervalued in 2026?
As of Sep 27, 2026, LRSHO trades below its calculated fair value: price 1.99 TRY, fair value 3.98 TRY, a gap of about +100% (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 LRSHO?
No. The price is what the market pays today (1.99 TRY); the fair value is what the company's own numbers justify (3.98 TRY). For Loras Holding the two are 1.99 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Loras Holding worth?
The market values Loras Holding at about 2.1B TRY (market capitalisation, as of Sep 27, 2026). Per share that is 1.99 TRY; our models calculate a fair value of 3.98 TRY per share.
What do the bullish and bearish scenarios say about LRSHO?
Our models span a range for Loras Holding: cautious scenario 2.85 TRY, base 3.98 TRY, optimistic 5.38 TRY per share (as of Sep 27, 2026, price 1.99 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Loras Holding (LRSHO)?
Balance-sheet figures for Loras Holding (as of Sep 27, 2026): return on equity −6.6%, debt of 0.01 per unit of equity. They feed the Quality Score of 21/100, which measures business quality independently of the share price.
How far is LRSHO from its 52-week high?
Loras Holding trades at 1.99 TRY, about 70% below its 52-week high of 6.60 TRY and at the low of 1.99 TRY (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of 3.98 TRY is for.
Which stocks are comparable to Loras 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 Loras Holding stock attractive at the current price?
The data as of Sep 27, 2026: price 1.99 TRY, calculated fair value 3.98 TRY (+100%), Quality Score 21/100, from 3 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 LRSHO calculated?
We run Loras Holding through 3 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 3.98 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. Loras Holding currently trades 100 % 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 Loras Holding (LRSHO)?
The closing price on Sep 25, 2026 was 1.99 TRY. Our model-based fair value is 3.98 TRY, about +100% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Loras Holding right now?
The large discount to fair value meets weak quality (21/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (2.85 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. A fairly wide model range (2.85 TRY to 5.38 TRY) leaves room in how you read the outcome.

Key figures of Loras Holding

How large is the market capitalisation of Loras Holding (LRSHO)?
The market capitalisation of Loras Holding is 2.1B TRY (≈ $42.5M). 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 Loras Holding (LRSHO)?
The price-to-sales ratio of Loras Holding is 0.31 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Loras Holding (LRSHO)?
Earnings per share at Loras Holding are −1.03 TRY. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Loras Holding (LRSHO)?
The net margin of Loras Holding is −6.4% (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 Loras Holding (LRSHO)?
The return on equity (ROE) of Loras Holding is −6.6% (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 Loras Holding (LRSHO)?
On an EBIT basis the return on assets of Loras Holding is 0.1% (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 Loras Holding (LRSHO)?
The operating margin of Loras Holding is −16.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Loras Holding (LRSHO)?
Revenue at Loras Holding is growing +28.3% versus a year earlier (3y avg +32.9%). 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 Loras Holding (LRSHO)?
Earnings per share at Loras Holding are growing −95.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Loras Holding (LRSHO) carry?
The net debt of Loras Holding is 240M TRY (fiscal year 2025, ≈ 0.6 yrs of FCF). 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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