Marti Otel Isletmeleri AS (MARTI) fair value: what the stock is really worth
We calculate from audited financials what Marti Otel Isletmeleri AS is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Marti Otel Isletmeleri A.S. operates, manages, and leases hotels, motels, holiday villages, marinas, restaurants, and other touristic facilities in Turkey. Marti Otel Isletmeleri A.S. was founded in 1967 and is based in Istanbul, Turkey.
Stock analysis
Marti Otel Isletmeleri AS (MARTI) currently trades at 2.77 TRY, while our model-based Fair Value estimate is 2.95 TRY, implying the stock looks roughly 6.1% fairly valued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 3.26 TRY per share, and 4 of the 7 models we run sit above the 2.77 TRY price.
Bear case: the Growth DCF group reads lowest at 1.40 TRY, and 3 of the 7 models stay below the price. Evidence for this calculation is low.
Scenario range: 1.11 TRY (bear) to 5.81 TRY (bull), the price of 2.77 TRY sits inside 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 30/100 (below-average quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Marti Otel Isletmeleri AS reported revenue of 1.6B TRY in FY2026 versus 132M TRY in FY2022, a compound +86.7%/yr. Reported net income was −380M TRY in FY2026.
Key figures
Market cap 4.2B TRY (≈ $85.5M) · P/S ratio 1.35 · EPS (TTM) −0.3900 TRY · Net margin −23.6% · Return on equity −1.6% · Return on assets (EBIT) −0.8% · Operating margin −140% · Revenue (TTM) 1.6B TRY.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 9% below its 52-week high and 115% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −37% fair-value upside, at 7%, MARTI screens cheaper than that median.
Fair Value models
Bear 1.11 TRYFair Value 2.95 TRYBull 5.81 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.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.
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.67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+40.7%
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.
+64.7%
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.
+89.6%
Revenue growth 18 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.
+23.7%
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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.
−38.8% (2021) → −12.1% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 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).
+20.1%
Yearly growth needed for the next five years to justify today's price.
Compare Marti Otel Isletmeleri AS with another stock
Price, fair value, quality and upside side by side.
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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.Lodging · 163 stocks
Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score30 · Bottom 25%
Fair Value upside−51% · Bottom 25%
Profitability
Return on assets−1% · Bottom 25%
Net margin (TTM)−24% · Bottom 25%
Operating margin (TTM)−140% · Bottom 25%
Growth and dividend
Revenue growth261% · Top 25%
Balance sheet
Debt / equity0.59× · Above median
Valuation Multiplesvs Lodging median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Marti Otel Isletmeleri AS Fair Value". https://www.fairvalue-calculator.com/stock/MARTI
Frequently asked questions
Is Marti Otel Isletmeleri AS (MARTI) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of 2.95 TRY versus a price of 2.77 TRY, about +7% upside (fairly valued).
What is the fair value of MARTI?
Our model-based fair value for Marti Otel Isletmeleri AS is 2.95 TRY (as of Sep 13, 2026), built from audited fundamentals. The current price: 2.77 TRY.
What is the quality score of MARTI?
Marti Otel Isletmeleri AS has a Quality Score of 30/100. 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 Marti Otel Isletmeleri AS (MARTI)?
Our model-based price target is the fair value of 2.95 TRY (as of Sep 13, 2026) from 8 valuation models. Cautious scenario 1.11 TRY, optimistic scenario 5.81 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Marti Otel Isletmeleri AS stock forecast for 2026?
Our models put fair value at 2.95 TRY, about +7% upside versus a price of 2.77 TRY (fairly valued). Cautious scenario 1.11 TRY, optimistic scenario 5.81 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Marti Otel Isletmeleri AS (MARTI)?
Marti Otel Isletmeleri AS reported trailing-twelve-month revenue of about 1.6B TRY (latest available figure, as of Sep 13, 2026).
What growth is priced into Marti Otel Isletmeleri AS (MARTI)?
For today's price to be fair in a discounted-cash-flow model, Marti Otel Isletmeleri AS would have to grow free cash flow by +20.1 % per year for five years (discount rate 15.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +89.6 % per year. As of Sep 13, 2026.
What discount rate (WACC) does the fair value of MARTI use?
Our models discount Marti Otel Isletmeleri AS at 15.7 %: a base by market capitalisation (micro), damped by beta 0.01, 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 Marti Otel Isletmeleri AS that is +20.1 % per year a year over ten years, using the same discount rate (15.7 %) and the same formula as our fair value.
How much growth has Marti Otel Isletmeleri AS (MARTI) delivered so far?
Over the past 5 years revenue at Marti Otel Isletmeleri AS grew +89.6 % a year. The price currently implies +20.1 % 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 Marti Otel Isletmeleri AS (MARTI) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Marti Otel Isletmeleri AS (+20.1 % 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 Marti Otel Isletmeleri AS (MARTI)?
The free-cash-flow yield on the price is 11.77 %: that much free cash flow Marti Otel Isletmeleri AS produces per unit of market value. When it exceeds the discount rate of our models (15.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Marti Otel Isletmeleri AS (MARTI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Marti Otel Isletmeleri AS it is 2.95 TRY per share (as of Sep 13, 2026), against a price of 2.77 TRY. It is the blended result of 8 valuation models (cash flow, earnings, asset, dividend).
Is Marti Otel Isletmeleri AS stock overvalued or undervalued in 2026?
As of Sep 13, 2026, MARTI trades below its calculated fair value: price 2.77 TRY, fair value 2.95 TRY, a gap of about +7% (fairly valued). 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 MARTI?
No. The price is what the market pays today (2.77 TRY); the fair value is what the company's own numbers justify (2.95 TRY). For Marti Otel Isletmeleri AS the two are 0.1800 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Marti Otel Isletmeleri AS worth?
The market values Marti Otel Isletmeleri AS at about 4.2B TRY (market capitalisation, as of Sep 13, 2026). Per share that is 2.77 TRY; our models calculate a fair value of 2.95 TRY per share.
What do the bullish and bearish scenarios say about MARTI?
Our models span a range for Marti Otel Isletmeleri AS: cautious scenario 1.11 TRY, base 2.95 TRY, optimistic 5.81 TRY per share (as of Sep 13, 2026, price 2.77 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Marti Otel Isletmeleri AS (MARTI)?
Balance-sheet figures for Marti Otel Isletmeleri AS (as of Sep 13, 2026): return on equity −1.6%, debt of 0.59 per unit of equity. They feed the Quality Score of 30/100, which measures business quality independently of the share price.
How far is MARTI from its 52-week high?
Marti Otel Isletmeleri AS trades at 2.77 TRY, about 9% below its 52-week high of 3.06 TRY and 115% above the low of 1.29 TRY (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of 2.95 TRY is for.
Which stocks are comparable to Marti Otel Isletmeleri AS?
From the same area (Consumer Cyclical) we also value Marriott International, Inc, Hilton Worldwide Holdings, InterContinental Hotels Group, Hyatt Hotels 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 Marti Otel Isletmeleri AS stock attractive at the current price?
The data as of Sep 13, 2026: price 2.77 TRY, calculated fair value 2.95 TRY (+7%), Quality Score 30/100, from 8 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 MARTI calculated?
We run Marti Otel Isletmeleri AS through 8 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 2.95 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 15.6 % above its aggregate fair value. Marti Otel Isletmeleri AS currently trades 7 % 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 Marti Otel Isletmeleri AS (MARTI)?
The closing price on Sep 14, 2026 was 2.77 TRY. Our model-based fair value is 2.95 TRY, about +7% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Marti Otel Isletmeleri AS right now?
The model range is unusually wide (1.11 TRY to 5.81 TRY). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Marti Otel Isletmeleri AS
How large is the market capitalisation of Marti Otel Isletmeleri AS (MARTI)?
The market capitalisation of Marti Otel Isletmeleri AS is 4.2B TRY (≈ $85.5M). 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 Marti Otel Isletmeleri AS (MARTI)?
The price-to-sales ratio of Marti Otel Isletmeleri AS is 1.35 (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 Marti Otel Isletmeleri AS (MARTI)?
Earnings per share at Marti Otel Isletmeleri AS are −0.3900 TRY. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Marti Otel Isletmeleri AS (MARTI)?
The net margin of Marti Otel Isletmeleri AS is −23.6% (fiscal year 2026). 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 Marti Otel Isletmeleri AS (MARTI)?
The return on equity (ROE) of Marti Otel Isletmeleri AS is −1.6% (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 Marti Otel Isletmeleri AS (MARTI)?
On an EBIT basis the return on assets of Marti Otel Isletmeleri AS is −0.8% (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 Marti Otel Isletmeleri AS (MARTI)?
The operating margin of Marti Otel Isletmeleri AS is −140% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Marti Otel Isletmeleri AS (MARTI)?
Revenue at Marti Otel Isletmeleri AS is growing +261% versus a year earlier (3y avg +64.7%). 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 Marti Otel Isletmeleri AS (MARTI)?
Earnings per share at Marti Otel Isletmeleri AS are growing −78.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Marti Otel Isletmeleri AS (MARTI) carry?
The net debt of Marti Otel Isletmeleri AS is 4.6B TRY (fiscal year 2026, ≈ 9.3 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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