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Menderes Tekstil Sanayi ve Ticaret Anonim Sirketi (MNDRS) Fair Value & Analysis

Consumer Cyclical · TR · Market cap 2.9B TRY

MT Menderes Tekstil Sanayi ve Ticaret Anonim Sirketi MNDRS · IS
Price10.60 TRY
Fair Value24.39 TRY
Upside+130.1%
Quality45/100
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Mixed Growth
Thin margins · 0.8% net margin
Low debt · generates free cash flow
Trails peers (5/13)
Narrow moat 10/100
Evidence: High Range 18.29 TRY – 30.48 TRY Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated today

Share price −2.9% over the past month.

Below-average quality, screening 130% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (18.29 TRY). The market is more pessimistic than our downside scenario.
  • Solid quality (45/100) 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)

18.90 TRY 1.89 TRY Fair Value 24.39 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 1.89 TRY – 18.90 TRY · fair‑value band 18.29 TRY – 30.48 TRY · the 10.60 TRY price screens below the 24.39 TRY fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Menderes Tekstil Sanayi ve Ticaret Anonim Sirketi (MNDRS) currently trades at 10.60 TRY, while our model-based Fair Value estimate is 24.39 TRY, implying the stock looks roughly 130.1% undervalued today. The Quality Score stands at 45/100 (below-average quality), in the Consumer Cyclical 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, Menderes Tekstil Sanayi ve Ticaret Anonim Sirketi generated revenue of 8.4B TRY at a net margin of 0.8%. Revenue declined 17.8% year over year. It earns a return on equity of 0.3%. Net debt stands at 1.7B TRY. Fundamentals as of Aug 13, 2026

Our scenario range runs from 18.29 TRY (bear case) to 30.48 TRY (bull case); at 10.60 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 46% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -3% fair-value upside, at 130%, MNDRS 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 80.88 TRY 145.18 TRY 271.03 TRY 80
Rev-Margin DCF 25.06 TRY 33.71 TRY 49.61 TRY 74
ROIC Compounder 0.3500 TRY 0.3600 TRY 0.3800 TRY 72
All 24 models by family
DCF Models
FCF DCF 86.11 TRY 132.43 TRY 276.85 TRY 38
Owner Earnings 58.69 TRY 129.74 TRY 273.41 TRY 31
5Y Revenue Exit 24.88 TRY 29.30 TRY 37.45 TRY 39
5Y EBITDA Exit 49.37 TRY 78.81 TRY 136.23 TRY 41
5Y P/E Exit 38.31 TRY 68.47 TRY 106.71 TRY 38
10Y Revenue Exit 43.71 TRY 64.39 TRY 67.85 TRY 36
10Y EBITDA Exit 61.19 TRY 115.91 TRY 204.97 TRY 37
10Y P/E Exit 53.30 TRY 92.65 TRY 150.74 TRY 35
Earnings-Based
Graham-Dodd 7.54 TRY 52.57 TRY 73.77 TRY 54
Lynch FV 20.08 TRY 28.69 TRY 37.29 TRY 50
PEG = 1.0 20.08 TRY 28.69 TRY 37.29 TRY 46
EPV 0.3500 TRY 0.3600 TRY 0.3800 TRY 59
Multiples
P/E Multiple 18.29 TRY 24.39 TRY 30.48 TRY 63
P/S Multiple 14.13 TRY 18.84 TRY 23.56 TRY 58
P/B Multiple 14.13 TRY 18.84 TRY 23.56 TRY 55
EV/EBIT 0.4000 TRY 0.4500 TRY 0.4900 TRY 53
EV/EBITDA 33.53 TRY 44.62 TRY 55.71 TRY 54
EV/Revenue 0.3600 TRY 0.4000 TRY 0.4400 TRY 43
Asset-Based
NCAV (Graham) 26.96 TRY 36.12 TRY 53.91 TRY 50
Growth DCF
Growth DCF 80.88 TRY 145.18 TRY 271.03 TRY 80
Rev-Margin DCF 25.06 TRY 33.71 TRY 49.61 TRY 74
Economic Profit
Residual Income 37.38 TRY 35.27 TRY 27.28 TRY 61
ROIC Compounder 0.3500 TRY 0.3600 TRY 0.3800 TRY 72
Growth Earnings
Growth-Adj P/E 26.03 TRY 37.18 TRY 48.33 TRY 68

Widest divergence: DCF Models (78.81 TRY) versus Economic Profit (0.3600 TRY). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 8.4B TRY
Revenue growth (YoY) -17.8%
Net margin 0.8%
Return on equity 0.3%
Free cash flow 1.5B TRY FY2025
P/E ratio 46.1
More key figures
Operating margin -15.7%
EPS (TTM) 0.2300 TRY
EPS growth (YoY) -1.8%
Net debt 1.7B TRY FY2025

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

Quality Score breakdown

Overall quality 45/100

Of which business quality 50 · Market factors (momentum, volatility) 29

Profitability 20
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 82
Earnings quality: real cash, not paper profit
Fin. Strength 43
Balance sheet, leverage, solvency risk
Investment 32
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 15
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 64
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

Menderes Tekstil Sanayi ve Ticaret Anonim Sirketi operates a cotton and synthetic textile company in Turkey and internationally. The company manufactures pressed cotton, yarn, raw cloth, lining, interlining, duvet cover, bed sheet, shirting, curtain fabrics, tablecloths, and upholstery cloth products. It also engages in the production of electric energy.

Full company description

Menderes Tekstil Sanayi ve Ticaret Anonim Sirketi operates a cotton and synthetic textile company in Turkey and internationally. The company manufactures pressed cotton, yarn, raw cloth, lining, interlining, duvet cover, bed sheet, shirting, curtain fabrics, tablecloths, and upholstery cloth products. It also engages in the production of electric energy. The company was founded in 1958 and is headquartered in Izmir, Turkey.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Menderes Tekstil Sanayi ve Ticaret Anonim Sirketi reported revenue of 8.8B TRY in FY2025 versus 2.2B TRY in FY2021, a compound +41.1%/yr. Reported net income was 307M TRY in FY2025.

Growth Quality 84/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
8.8B TRY
Latest YoY
−14.1%
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.
+28.9%
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.
+37.1%
Avg. growth/yr (20Y) ⓘ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.
+20.0%
Revenue +41.1%/yr
FY21 2.2B TRY
FY22 4.1B TRY
FY23 9.2B TRY
FY24 10.3B TRY
FY25 8.8B TRY
Net income
FY21 −268M TRY
FY22 1.0B TRY
FY23 1.6B TRY
FY24 −30.8M TRY
FY25 307M TRY

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Menderes Tekstil Sanayi ve Ticaret Anonim Sirketi · Fair Value
24.39 TRY +130%Fair Value
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Cite: Fair Value Calculator (2026). "Menderes Tekstil Sanayi ve Ticaret Anonim Sirketi Fair Value". https://www.fairvalue-calculator.com/stock/MNDRS

Peer Group

Textile Manufacturing · 315 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 45 · Below median
Fair Value upside +130% · Top 25%
Return on equity (TTM) 0% · Below median
Return on assets -0% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) -16% · Bottom 25%
Revenue growth -18% · Bottom 25%
Debt / equity 0.10× · Higher than median

Valuation Multiples vs Textile Manufacturing median · lower = cheaper

P/E (TTM) 46.1× · Pricier than 75% of peers
P/B 0.20× · Cheaper than 75% of peers
P/S (TTM) 0.35× · Cheaper than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 3.9× · 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 7
FUTURE 0 · sector 0
PAST 1 · sector 15
HEALTH 95 · sector 95
DIVIDEND 0 · sector 34

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

Stock Price Fair Value vs Fair Value
Shenzhou International Group 2313 HK$44.40 HK$75.65 +70%
Tongkun Group 601233 ¥23.56 ¥14.53 -38%
Inner Mongolia ERDOS Resources Co 600295 ¥12.04 ¥14.35 +19%
Far Eastern New Century Corporation 1402 27.55 TWD 28.72 TWD +4%
K.P.R. Mill Limited KPRMILL ₹1,083 ₹467.49 -57%
HMT (Xiamen) New Technical Materials Co 603306 ¥78.00 ¥11.85 -85%
Zhejiang Orient Holdings 600120 ¥5.18 ¥2.21 -57%
Vardhman Textiles Limited VTL ₹602.20 ₹437.53 -27%
Isiklar Enerji ve Yapi Holding IEYHO 174.20 TRY 323.84 TRY +86%
Bros Eastern.,Ltd 601339 ¥8.08 ¥7.87 -3%

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Frequently asked questions

Is Menderes Tekstil Sanayi ve Ticaret Anonim Sirketi (MNDRS) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 24.39 TRY versus a price of 10.60 TRY, about +130% (undervalued).
What is the fair value of MNDRS?
Our model-based fair value for Menderes Tekstil Sanayi ve Ticaret Anonim Sirketi is 24.39 TRY (as of Aug 13, 2026), built from audited fundamentals. The current price is 10.60 TRY.
What is the quality score of MNDRS?
Menderes Tekstil Sanayi ve Ticaret Anonim Sirketi has a Quality Score of 45/100. 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 Menderes Tekstil Sanayi ve Ticaret Anonim Sirketi (MNDRS)?
Menderes Tekstil Sanayi ve Ticaret Anonim Sirketi reported trailing-twelve-month revenue of about 8.4B TRY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of MNDRS?
The net profit margin of Menderes Tekstil Sanayi ve Ticaret Anonim Sirketi is about 0.8%, meaning it keeps roughly 0.8% of revenue as net income. Based on the latest reported figures.

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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