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Mackolik Internet Hizmetleri Ticaret A.S., (MACKO) Fair Value & Analysis

Communication Services · TR · Market cap 3.5B TRY

MI Mackolik Internet Hizmetleri Ticaret A.S., MACKO · IS
Price35.00 TRY
Fair Value70.74 TRY
Upside+102.1%
Quality70/100
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Healthy Growth
Highly profitable · 25.6% net margin
generates free cash flow
12.77% dividend yield
Ranks above peers (10/13)
Wide moat 100/100
Evidence: High Range 34.77 TRY – 147.74 TRY Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated today

Share price +4.2% over the past month.

A solid business, screening 102% undervalued on our models.

What matters now

  • The rarer combination: high quality (70/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The model range is unusually wide (34.77 TRY to 147.74 TRY). The outcome hinges heavily on assumptions, so read the point estimate with caution.
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Price vs Fair Value (4 years)

43.72 TRY 8.29 TRY Fair Value 70.74 TRY Jan 2023 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

43‑month range 8.29 TRY – 43.72 TRY · fair‑value band 34.77 TRY – 147.74 TRY · the 35.00 TRY price screens below the 70.74 TRY fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Mackolik Internet Hizmetleri Ticaret A.S., (MACKO) currently trades at 35.00 TRY, while our model-based Fair Value estimate is 70.74 TRY, implying the stock looks roughly 102.1% undervalued today. The Quality Score stands at 70/100 (solid quality), in the Communication Services 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: high), always confirm before acting.

Over the trailing twelve months, Mackolik Internet Hizmetleri Ticaret A.S., generated revenue of 1.0B TRY at a net margin of 25.6%. Revenue declined 27.4% year over year. It earns a return on equity of 36.0%. The stock trades on a trailing P/E of 8.9. Fundamentals as of Aug 13, 2026

Our scenario range runs from 34.77 TRY (bear case) to 147.74 TRY (bull case); at 35.00 TRY, the current price sits within 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 22% below its 52-week high and 57% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at -20% fair-value upside, at 102%, MACKO 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
Residual Income 25.09 TRY 36.78 TRY 481.23 TRY 76
Growth DCF 28.53 TRY 53.34 TRY 93.31 TRY 72
Gordon GGM 10.84 TRY 21.60 TRY 32.70 TRY 70
All 26 models by family
DCF Models
FCF DCF 30.31 TRY 46.09 TRY 95.29 TRY 38
Owner Earnings 48.73 TRY 106.70 TRY 223.92 TRY 31
5Y Revenue Exit 27.70 TRY 47.84 TRY 90.07 TRY 39
5Y EBITDA Exit 48.11 TRY 89.12 TRY 169.70 TRY 41
5Y P/E Exit 48.60 TRY 113.13 TRY 202.06 TRY 38
10Y Revenue Exit 27.88 TRY 61.30 TRY 83.00 TRY 36
10Y EBITDA Exit 43.45 TRY 104.26 TRY 213.10 TRY 37
10Y P/E Exit 43.80 TRY 105.29 TRY 208.59 TRY 35
Earnings-Based
Graham-Dodd 21.87 TRY 152.49 TRY 214.00 TRY 54
Lynch FV 78.78 TRY 112.55 TRY 146.31 TRY 50
PEG = 1.0 78.78 TRY 112.55 TRY 146.31 TRY 46
EPV 37.84 TRY 43.65 TRY 48.66 TRY 59
Dividend Discount
Gordon GGM 10.84 TRY 21.60 TRY 32.70 TRY 70
DDM Multi-Stage 10.84 TRY 18.66 TRY 22.80 TRY 61
Multiples
P/E Multiple 53.06 TRY 70.74 TRY 88.43 TRY 63
P/S Multiple 28.87 TRY 38.49 TRY 48.11 TRY 58
P/B Multiple 18.15 TRY 24.20 TRY 30.25 TRY 55
EV/EBIT 62.51 TRY 82.99 TRY 103.48 TRY 53
EV/EBITDA 53.46 TRY 70.93 TRY 88.39 TRY 54
EV/Revenue 24.16 TRY 34.06 TRY 43.96 TRY 43
Asset-Based
NCAV (Graham) 3.46 TRY 4.63 TRY 6.91 TRY 50
Growth DCF
Growth DCF 28.53 TRY 53.34 TRY 93.31 TRY 72
Rev-Margin DCF 30.51 TRY 54.56 TRY 104.81 TRY 67
Economic Profit
Residual Income 25.09 TRY 36.78 TRY 481.23 TRY 76
ROIC Compounder 44.87 TRY 61.99 TRY 82.86 TRY 67
Growth Earnings
Growth-Adj P/E 104.58 TRY 149.40 TRY 194.22 TRY 68

Widest divergence: Growth Earnings (149.40 TRY) versus Asset-Based (4.63 TRY). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 1.0B TRY
Revenue growth (YoY) -27.4%
Net margin 25.6%
Return on equity 36.0%
Free cash flow 184M TRY FY2025
P/E ratio 8.9
More key figures
Operating margin 45.3%
EPS (TTM) 3.94 TRY
Dividend yield 12.8%
EPS growth (YoY) -53.4%

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

Quality Score breakdown

Overall quality 70/100

Of which business quality 68 · Market factors (momentum, volatility) 50

Profitability 98
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 59
Earnings quality: real cash, not paper profit
Fin. Strength 87
Balance sheet, leverage, solvency risk
Investment 25
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 43
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

Mackolik Internet Hizmetleri Ticaret A.S., together with its subsidiaries, operates sports websites in Turkey, France, and the Netherlands. The company offers sports news for football, basketball, and tennis, as well as betting services.

Full company description

Mackolik Internet Hizmetleri Ticaret A.S., together with its subsidiaries, operates sports websites in Turkey, France, and the Netherlands. The company offers sports news for football, basketball, and tennis, as well as betting services. It also provides advertising services through its own mobile applications and websites; and software programs and services. The company was incorporated in 2001 and is headquartered in Istanbul, Turkey. Mackolik Internet Hizmetleri Ticaret A.S. operates as a subsidiary of Mediazz Yeni Medya Ve Teknoloji Yatirimlari Anonim Sirketi.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Mackolik Internet Hizmetleri Ticaret A.S., reported revenue of 1.1B TRY in FY2025 versus 114M TRY in FY2021, a compound +76.3%/yr. Reported net income was 322M TRY in FY2025, compounding +39.2%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.1B TRY
Latest YoY
+20.5%
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.
+47.6%
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.
+101.7%
Revenue +76.3%/yr
FY21 114M TRY
FY22 342M TRY
FY23 543M TRY
FY24 913M TRY
FY25 1.1B TRY
Net income +39.2%/yr
FY21 85.5M TRY
FY22 113M TRY
FY23 220M TRY
FY24 334M TRY
FY25 322M TRY

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Mackolik Internet Hizmetleri Ticaret A.S., · Fair Value
70.74 TRY +102%Fair Value
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Cite: Fair Value Calculator (2026). "Mackolik Internet Hizmetleri Ticaret A.S., Fair Value". https://www.fairvalue-calculator.com/stock/MACKO

Peer Group

Internet Content & Information · 151 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 70 · Top 25%
Fair Value upside +102% · Top 25%
Return on equity (TTM) 36% · Top 25%
Return on assets 32% · Top 25%
Net margin (TTM) 26% · Top 25%
Operating margin (TTM) 45% · Top 25%
Revenue growth -27% · Bottom 25%
Dividend yield (TTM) 12.8% · Top 25%

Valuation Multiples vs Internet Content & Information median · lower = cheaper

P/E (TTM) 8.9× · Cheaper than 75% of peers
P/B 5.06× · Pricier than 75% of peers
P/S (TTM) 3.49× · Pricier than median
P/FCF 0.4× · Cheaper than 75% of peers
EV/EBITDA 6.7× · 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 31
PAST 100 · sector 10
HEALTH 0 · sector 99
DIVIDEND 100 · sector 44

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 Internet Content & Information stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Alphabet Inc GOOGL $354.46 $145.14 -59%
Meta Platforms, Inc META $669.21 $534.91 -20%
Tencent Holdings 0700 HK$460.20 HK$467.50 +2%
Spotify Technology S.A SPOT $485.38 $209.56 -57%
Reddit, Inc RDDT $195.34 $39.59 -80%
Baidu, Inc BIDU $109.50 $66.96 -39%
Kuaishou Technology, an investment holding company, 1024 HK$44.70 HK$101.03 +126%
NAVER Corporation 035420 191,300 KRW 231,585 KRW +21%
Tencent Music Entertainment Group 1698 HK$38.56 HK$66.58 +73%
REA Group REA A$149.14 A$88.53 -41%

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Frequently asked questions

Is Mackolik Internet Hizmetleri Ticaret A.S., (MACKO) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 70.74 TRY versus a price of 35.00 TRY, about +102% (undervalued).
What is the fair value of MACKO?
Our model-based fair value for Mackolik Internet Hizmetleri Ticaret A.S., is 70.74 TRY (as of Aug 13, 2026), built from audited fundamentals. The current price is 35.00 TRY.
What is the quality score of MACKO?
Mackolik Internet Hizmetleri Ticaret A.S., has a Quality Score of 70/100. 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 Mackolik Internet Hizmetleri Ticaret A.S., (MACKO)?
Mackolik Internet Hizmetleri Ticaret A.S., reported trailing-twelve-month revenue of about 1.0B TRY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of MACKO?
The net profit margin of Mackolik Internet Hizmetleri Ticaret A.S., is about 25.6%, meaning it keeps roughly 25.6% of revenue as net income. Based on the latest reported figures.
Does Mackolik Internet Hizmetleri Ticaret A.S., pay a dividend?
Mackolik Internet Hizmetleri Ticaret A.S., currently shows a dividend yield of about 12.77% 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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