Marti Gayrimenkul Yatirim Ortakligi A.S. (MRGYO) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of Marti Gayrimenkul Yatirim Ortakligi A.S. TRY 0.48, price TRY 1.07, upside -55.5%, quality 30 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
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 0.1641 TRY – 2.39 TRY · fair‑value band 0.3570 TRY – 0.6375 TRY · the 1.07 TRY price screens above the 0.4760 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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Marti Gayrimenkul Yatirim Ortakligi A.S. engages in the real estate activities in Turkey. The company primarily has investments in Çerkezköy housing project; a hotel in Sarigerme; and two hotels in Ayin Bay and Hisarönü Marina. Marti Gayrimenkul Yatirim Ortakligi A.S. was founded in 1967 and is headquartered in Istanbul, Turkey.
Stock analysis
Marti Gayrimenkul Yatirim Ortakligi A.S. (MRGYO) currently trades at 1.07 TRY, while our model-based Fair Value estimate is 0.4760 TRY, implying the stock looks roughly 124.8% overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 3.79 TRY per share, and 3 of the 7 models we run sit above the 1.07 TRY price.
Bear case: the Multiples group reads lowest at 0.5600 TRY, and 4 of the 7 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.3570 TRY (bear) to 0.6375 TRY (bull), the price of 1.07 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 30/100 (below-average quality), in the Real Estate sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Marti Gayrimenkul Yatirim Ortakligi A.S. reported revenue of 208M TRY in FY2026 versus 13.4M TRY in FY2022, a compound +98.5%/yr. Reported net income was 1.7B TRY in FY2026, compounding +66.1%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
Key figures
Market cap 3.1B TRY (≈ $62.8M) · P/E ratio 0.8 · P/S ratio 6.73 · EPS (TTM) 1.26 TRY · Net margin 827% · Return on equity 13.5% · Return on assets (EBIT) 0.4% · Operating margin 164%.
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 55% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 2% fair-value upside, at −56%, MRGYO screens richer than that median.
Fair Value models
Bear 0.3570 TRYFair Value 0.4760 TRYBull 0.6375 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 2026 figures (about 6 months old). Earnings retained since then (0.6214 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.
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
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+40.3%
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.
+82.2%
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.
+52.2%
Start year 2021 (pandemic). Over 10 years: +30.3% a year
Revenue growth 19 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.
+24.6%
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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.
+33.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+33.5%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2026 ⓘ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.80% → 61%
Compare Marti Gayrimenkul Yatirim Ortakligi A.S. with another stock
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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.REIT - Diversified · 153 stocks
Beats the industry median on 6/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score32 · Bottom 25%
Fair Value upside−55.5% · Bottom 25%
Profitability
Return on equity (TTM)13.5% · Top 25%
Return on assets0.5% · Bottom 25%
Operating margin (TTM)164.2% · Top 25%
Growth and dividend
Revenue growth−16.6% · Bottom 25%
Balance sheet
Debt / equity0.08× · Lowest 25%
Valuation Multiplesvs REIT - Diversified median · lower = cheaper
P/E (TTM)0.8× · Cheapest 25%
P/S (TTM)0.31× · Cheapest 25%
EV/EBITDA7.7× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 25
FUTURE (revenue growth)0· sector 16
PAST (return on equity)54· sector 20
HEALTH (low debt)96· sector 75
DIVIDEND (yield)0· sector 100
VALUE 0: the price sits above our fair-value range.
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.
Is Marti Gayrimenkul Yatirim Ortakligi A.S. (MRGYO) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 0.4760 TRY versus a price of 1.07 TRY, about −56% upside (overvalued).
What is the fair value of MRGYO?
Our model-based fair value for Marti Gayrimenkul Yatirim Ortakligi A.S. is 0.4760 TRY (as of Sep 27, 2026), built from audited fundamentals. The current price: 1.07 TRY.
What is the quality score of MRGYO?
Marti Gayrimenkul Yatirim Ortakligi A.S. 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 Gayrimenkul Yatirim Ortakligi A.S. (MRGYO)?
Our model-based price target is the fair value of 0.4760 TRY (as of Sep 27, 2026) from 7 valuation models. Cautious scenario 0.3570 TRY, optimistic scenario 0.6375 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Marti Gayrimenkul Yatirim Ortakligi A.S. stock forecast for 2026?
Our models put fair value at 0.4760 TRY, about −56% upside versus a price of 1.07 TRY (overvalued). Cautious scenario 0.3570 TRY, optimistic scenario 0.6375 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Marti Gayrimenkul Yatirim Ortakligi A.S. (MRGYO)?
Marti Gayrimenkul Yatirim Ortakligi A.S. reported trailing-twelve-month revenue of about 200M TRY (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of Marti Gayrimenkul Yatirim Ortakligi A.S. (MRGYO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Marti Gayrimenkul Yatirim Ortakligi A.S. it is 0.4760 TRY per share (as of Sep 27, 2026), against a price of 1.07 TRY. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is Marti Gayrimenkul Yatirim Ortakligi A.S. stock overvalued or undervalued in 2026?
As of Sep 27, 2026, MRGYO trades above its calculated fair value: price 1.07 TRY, fair value 0.4760 TRY, a gap of about −56% (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 MRGYO?
No. The price is what the market pays today (1.07 TRY); the fair value is what the company's own numbers justify (0.4760 TRY). For Marti Gayrimenkul Yatirim Ortakligi A.S. the two are 0.5940 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Marti Gayrimenkul Yatirim Ortakligi A.S. worth?
The market values Marti Gayrimenkul Yatirim Ortakligi A.S. at about 3.1B TRY (market capitalisation, as of Sep 27, 2026). Per share that is 1.07 TRY; our models calculate a fair value of 0.4760 TRY per share.
What do the bullish and bearish scenarios say about MRGYO?
Our models span a range for Marti Gayrimenkul Yatirim Ortakligi A.S.: cautious scenario 0.3570 TRY, base 0.4760 TRY, optimistic 0.6375 TRY per share (as of Sep 27, 2026, price 1.07 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MRGYO?
Marti Gayrimenkul Yatirim Ortakligi A.S. trades at a price-to-earnings ratio of 0.8 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.4760 TRY is built from several models across several years. Other multiples: P/S 0.3, EV/EBITDA 7.7.
How solid is the balance sheet of Marti Gayrimenkul Yatirim Ortakligi A.S. (MRGYO)?
Balance-sheet figures for Marti Gayrimenkul Yatirim Ortakligi A.S. (as of Sep 27, 2026): return on equity 13.5%, debt of 0.08 per unit of equity. They feed the Quality Score of 30/100, which measures business quality independently of the share price.
How far is MRGYO from its 52-week high?
Marti Gayrimenkul Yatirim Ortakligi A.S. trades at 1.07 TRY, about 55% below its 52-week high of 2.36 TRY and at the low of 1.07 TRY (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of 0.4760 TRY is for.
Which stocks are comparable to Marti Gayrimenkul Yatirim Ortakligi A.S.?
From the same area (Real Estate) we also value Goodman Group, VICI Properties Inc, W. P. Carey Inc, Stockland, 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 Gayrimenkul Yatirim Ortakligi A.S. stock attractive at the current price?
The data as of Sep 27, 2026: price 1.07 TRY, calculated fair value 0.4760 TRY (−56%), Quality Score 30/100, from 7 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 MRGYO calculated?
We run Marti Gayrimenkul Yatirim Ortakligi A.S. through 7 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 0.4760 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. Marti Gayrimenkul Yatirim Ortakligi A.S. 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 Marti Gayrimenkul Yatirim Ortakligi A.S. (MRGYO)?
The closing price on Sep 25, 2026 was 1.07 TRY. Our model-based fair value is 0.4760 TRY, about −56% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Marti Gayrimenkul Yatirim Ortakligi A.S. right now?
The price sits above even our optimistic bull case (0.6375 TRY). The favourable scenario is already priced in. Weak quality (30/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Marti Gayrimenkul Yatirim Ortakligi A.S.
How large is the market capitalisation of Marti Gayrimenkul Yatirim Ortakligi A.S. (MRGYO)?
The market capitalisation of Marti Gayrimenkul Yatirim Ortakligi A.S. is 3.1B TRY (≈ $62.8M). 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 Gayrimenkul Yatirim Ortakligi A.S. (MRGYO)?
The price-to-sales ratio of Marti Gayrimenkul Yatirim Ortakligi A.S. is 6.73 (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 Marti Gayrimenkul Yatirim Ortakligi A.S. (MRGYO)?
Earnings per share at Marti Gayrimenkul Yatirim Ortakligi A.S. are 1.26 TRY (price ÷ EPS = P/E 0.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Marti Gayrimenkul Yatirim Ortakligi A.S. (MRGYO)?
The net margin of Marti Gayrimenkul Yatirim Ortakligi A.S. is 827% (last twelve months). 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 Gayrimenkul Yatirim Ortakligi A.S. (MRGYO)?
The return on equity (ROE) of Marti Gayrimenkul Yatirim Ortakligi A.S. is 13.5% (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 Gayrimenkul Yatirim Ortakligi A.S. (MRGYO)?
On an EBIT basis the return on assets of Marti Gayrimenkul Yatirim Ortakligi A.S. is 0.4% (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 Marti Gayrimenkul Yatirim Ortakligi A.S. (MRGYO)?
The operating margin of Marti Gayrimenkul Yatirim Ortakligi A.S. is 164% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Marti Gayrimenkul Yatirim Ortakligi A.S. (MRGYO)?
Revenue at Marti Gayrimenkul Yatirim Ortakligi A.S. is growing −16.6% versus a year earlier (3y avg +82.2%). 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 Gayrimenkul Yatirim Ortakligi A.S. (MRGYO)?
Earnings per share at Marti Gayrimenkul Yatirim Ortakligi A.S. are growing −23.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Marti Gayrimenkul Yatirim Ortakligi A.S. (MRGYO) generate?
The free cash flow of Marti Gayrimenkul Yatirim Ortakligi A.S. is −1.0B TRY (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Marti Gayrimenkul Yatirim Ortakligi A.S. (MRGYO) carry?
The net debt of Marti Gayrimenkul Yatirim Ortakligi A.S. is 1.1B TRY (fiscal year 2026). 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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