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Marshall Boya Ve Vernik Sanayii A.S. (MRSHL) Fair Value & Analysis

Basic Materials · TR · Market cap 16.5B TRY

MB Marshall Boya Ve Vernik Sanayii A.S. MRSHL · IS
Price1,534 TRY
Fair Value464.12 TRY
Upside-69.7%
Quality46/100
Mixed Growth
Loss-making · -5.5% net margin
Low debt · generates free cash flow
Trails peers (4/11)
Narrow moat 29/100
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Evidence: Medium Range 278.33 TRY – 585.40 TRY Share as image

Fair value as of: Aug 1, 2026

From 13 valuation models · updated today

Share price −33.7% over the past month.

What matters now

  • The price sits above even our optimistic bull case (585.40 TRY). The favourable scenario is already priced in.
  • Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (278.33 TRY to 585.40 TRY) leaves room in how you read the outcome.

Price vs Fair Value (12 months)

2,454 TRY 1,354 TRY Fair Value 464.12 TRY Aug 2025 Jul 2026

12‑month range 1,354 TRY – 2,454 TRY · fair‑value band 278.33 TRY – 585.40 TRY · the 1,534 TRY price screens above the 464.12 TRY fair value. As of Aug 1, 2026.

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Analysis

Marshall Boya Ve Vernik Sanayii A.S. (MRSHL) currently trades at 1,534 TRY, while our model-based Fair Value estimate is 464.12 TRY, implying the stock looks roughly 69.7% overvalued today. We read business quality at 46/100 (below-average quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Marshall Boya Ve Vernik Sanayii A.S. generated revenue of 3.9B TRY at a net margin of -5.5%. Revenue declined 22.7% year over year. It earns a return on equity of -19.7%. Net debt stands at 231M TRY. Fundamentals as of Aug 1, 2026

Our scenario range runs from 278.33 TRY (bear case) to 585.40 TRY (bull case); at 1,534 TRY, the current price sits above that range. The share trades about 42% below its 52-week high and 14% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -74% fair-value upside, at -70%, MRSHL screens cheaper than that median.

Key figures & financial health

Revenue (TTM) 3.9B TRY
Revenue growth (YoY) -22.7%
Net margin -5.5%
Return on equity -19.7%
Free cash flow 151M TRY FY2025
Operating margin 17.8%
More key figures
EPS (TTM) -19.55 TRY
EPS growth (YoY) +86.4%
Net debt 231M TRY FY2025

Figures from reported company fundamentals · as of Aug 1, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 46/100
Profitability 40
Quality Growth 57
Cashflow 40
Fin. Strength 48
Investment 50
Low Volatility 67
Momentum 47
52W Momentum 20
Net Issuance 65

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

Marshall Boya Ve Vernik Sanayii A.S. manufactures and sells paint, coating, and varnish products in Turkey. It offers interior wall and exterior paint. Marshall Boya Ve Vernik Sanayii A.S. was founded in 1954 and is headquartered in Dilovasi, Turkey.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Marshall Boya Ve Vernik Sanayii A.S. reported revenue of 4.4B TRY in FY2025 versus 752M TRY in FY2021, a compound +55.3%/yr. Reported net income was −291M TRY in FY2025.

Revenue +55.3%/yr
FY21 752M TRY
FY22 1.6B TRY
FY23 4.5B TRY
FY24 5.3B TRY
FY25 4.4B TRY
Net income
FY21 −96.3M TRY
FY22 −7.6M TRY
FY23 −210M TRY
FY24 −319M TRY
FY25 −291M TRY

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Cite: Fair Value Calculator (2026). "Marshall Boya Ve Vernik Sanayii A.S. Fair Value". https://www.fairvalue-calculator.com/stock/MRSHL

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 0 / 0
FUTURE 0 / 20
PAST 0 / 22
HEALTH 95 / 95
DIVIDEND 0 / 23

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 Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 1, 2026).

Stock Price Fair Value vs Fair Value
Linde plc LIN $516.71 $221.55 -57%
Nan Ya Plastics Corporation 1303 197.00 TWD 250.02 TWD +27%
Intercontinental Exchange, Inc I1CE34 R$334.47 R$67.12 -80%
Wanhua Chemical Group 600309 ¥72.46 ¥51.34 -29%
Novozymes A/S NSISB kr 390.80 kr 25.66 -93%
Asian Paints Limited ASIANPAINT ₹2,687 ₹655.71 -76%
PPG Industries, Inc PPG 1,988 MXN 68.53 MXN -97%
Solar Industries India Limited SOLARINDS ₹18,441 ₹4,083 -78%
Pidilite Industries Limited PIDILITIND ₹1,572 ₹412.63 -74%
PT Chandra Asri Pacific Tbk TPIA 1,810 IDR 2,664 IDR +47%

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Frequently asked questions

Is Marshall Boya Ve Vernik Sanayii A.S. (MRSHL) overvalued or undervalued?
As of Aug 1, 2026, our model estimates a fair value of 464.12 TRY versus a price of 1,534 TRY, about −70% (overvalued).
What is the fair value of MRSHL?
Our model-based fair value for Marshall Boya Ve Vernik Sanayii A.S. is 464.12 TRY (as of Aug 1, 2026), built from audited fundamentals. The current price is 1,534 TRY.
What is the quality score of MRSHL?
Marshall Boya Ve Vernik Sanayii A.S. has a Quality Score of 46/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Marshall Boya Ve Vernik Sanayii A.S. (MRSHL)?
Marshall Boya Ve Vernik Sanayii A.S. reported trailing-twelve-month revenue of about 3.9B TRY (latest available figure, as of Aug 1, 2026).
What is the net profit margin of MRSHL?
The net profit margin of Marshall Boya Ve Vernik Sanayii A.S. is about -5.5%, meaning it is currently running at a net loss. 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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