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Oba Makarnacilik Sanayi ve Ticaret A.S. (OBAMS) Fair Value & Analysis

Consumer Defensive · TR · Market cap 13.7B TRY

OM Oba Makarnacilik Sanayi ve Ticaret A.S. OBAMS · IS
Price4.81 TRY
Fair Value1.55 TRY
Upside-67.8%
Quality39/100
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Mixed Growth
Loss-making · -14.0% net margin
Low debt · generates free cash flow
Trails peers (3/11)
Narrow moat 6/100
Evidence: Medium Range 1.12 TRY – 1.98 TRY Share as image

Fair value as of: Aug 13, 2026

From 9 valuation models · updated today

Share price −6.8% over the past month.

Below-average quality, and screening another 68% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (1.98 TRY). The favourable scenario is already priced in.
  • Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (2 years)

14.24 TRY 4.74 TRY Fair Value 1.55 TRY Mar 2024 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

29‑month range 4.74 TRY – 14.24 TRY · fair‑value band 1.12 TRY – 1.98 TRY · the 4.81 TRY price screens above the 1.55 TRY fair value. Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

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Analysis

Oba Makarnacilik Sanayi ve Ticaret A.S. (OBAMS) currently trades at 4.81 TRY, while our model-based Fair Value estimate is 1.55 TRY, implying the stock looks roughly 67.8% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Consumer Defensive 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, Oba Makarnacilik Sanayi ve Ticaret A.S. generated revenue of 22.8B TRY at a net margin of -14.0%. Revenue grew 0.9% year over year. It earns a return on equity of -29.1%. Net debt stands at 512M TRY. Fundamentals as of Aug 13, 2026

Our scenario range runs from 1.12 TRY (bear case) to 1.98 TRY (bull case); at 4.81 TRY, the current price sits above 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 50% below its 52-week high and 3% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -11% fair-value upside, at -68%, OBAMS screens richer 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 2.45 TRY 3.43 TRY 5.41 TRY 80
EV/EBITDA 2.60 TRY 3.03 TRY 3.46 TRY 54
NCAV (Graham) 1.91 TRY 2.56 TRY 3.82 TRY 50
All 9 models by family
DCF Models
FCF DCF 2.52 TRY 3.21 TRY 5.43 TRY 38
5Y Revenue Exit 2.16 TRY 2.77 TRY 4.03 TRY 39
5Y EBITDA Exit 2.60 TRY 3.67 TRY 5.75 TRY 41
10Y Revenue Exit 2.25 TRY 3.28 TRY 3.98 TRY 36
10Y EBITDA Exit 2.60 TRY 4.22 TRY 7.22 TRY 37
Multiples
EV/EBITDA 2.60 TRY 3.03 TRY 3.46 TRY 54
EV/Revenue 1.96 TRY 2.24 TRY 2.52 TRY 43
Asset-Based
NCAV (Graham) 1.91 TRY 2.56 TRY 3.82 TRY 50
Growth DCF
Growth DCF 2.45 TRY 3.43 TRY 5.41 TRY 80

Widest divergence: Growth DCF (3.43 TRY) versus Multiples (2.24 TRY). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 22.8B TRY
Revenue growth (YoY) +0.9%
Net margin -14.0%
Return on equity -29.1%
Free cash flow 208M TRY FY2025
Operating margin 2.3%
More key figures
EPS (TTM) -1.11 TRY
EPS growth (YoY) -40.8%
Net debt 512M TRY FY2023

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

Quality Score breakdown

Overall quality 39/100

Of which business quality 44 · Market factors (momentum, volatility) 21

Profitability 25
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 15
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 41
Disciplined investing over empire-building
Low Volatility 69
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 40
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

Oba Makarnacilik Sanayi ve Ticaret A.S. produces and sells pasta in Turkey and internationally. The company offers children pasta, mac and cheese, noodles, flour, and semolina products. It sells its products under the OBA Makarna, OBA Mie, OBA Gold, Obalino, Nido, Eva, Omelia, Pasta Layla, Pasta Savana, Vera, Rosa Linda, and Nido brands.

Full company description

Oba Makarnacilik Sanayi ve Ticaret A.S. produces and sells pasta in Turkey and internationally. The company offers children pasta, mac and cheese, noodles, flour, and semolina products. It sells its products under the OBA Makarna, OBA Mie, OBA Gold, Obalino, Nido, Eva, Omelia, Pasta Layla, Pasta Savana, Vera, Rosa Linda, and Nido brands. The company was formerly known as Türsan Kollektif Sirketi Selahattin Öztahtaci, Abdullah Incetahtaci, Adil Ceydeli and changed its name to Oba Makarnacilik Sanayi ve Ticaret A.S. in December 1988. The company was incorporated in 1966 and is headquartered in Gaziantep, Turkey. Oba Makarnacilik Sanayi ve Ticaret A.S. operates as a subsidiary of Alpinvest Yatirim Gida Sanayi ve Ticaret AS.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Oba Makarnacilik Sanayi ve Ticaret A.S. reported revenue of 22.8B TRY in FY2025 versus 5.2B TRY in FY2021, a compound +44.6%/yr. Reported net income was −2.0B TRY in FY2025.

Growth Quality 62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
22.8B TRY
Latest YoY
+0.4%
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.
+3.0%
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.
+49.0%
Revenue +44.6%/yr
FY21 5.2B TRY
FY22 20.9B TRY
FY23 23.4B TRY
FY24 22.7B TRY
FY25 22.8B TRY
Net income
FY21 127M TRY
FY22 −2.1B TRY
FY23 1.3B TRY
FY24 402M TRY
FY25 −2.0B TRY

OBAMS screens 68% overvalued. Compare with Nestlé India Limited →

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Cite: Fair Value Calculator (2026). "Oba Makarnacilik Sanayi ve Ticaret A.S. Fair Value". https://www.fairvalue-calculator.com/stock/OBAMS

Peer Group

Packaged Foods · 651 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 39 · Bottom 25%
Fair Value upside −68% · Bottom 25%
Return on assets -2% · Bottom 25%
Net margin (TTM) -14% · Bottom 25%
Operating margin (TTM) 2% · Below median
Revenue growth 1% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/S (TTM) 0.01× · Cheaper than 75% of peers
P/FCF 1.4× · Cheaper than median

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 · sector 27
FUTURE 5 · sector 19
PAST 0 · sector 27
HEALTH 100 · sector 96
DIVIDEND 0 · sector 47

VALUE 0: the price sits above our fair-value range.

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

Stock Price Fair Value vs Fair Value
Nestlé India Limited NESTLEIND ₹1,427 ₹362.37 -75%
Uni-President Enterprises Corp 1216 79.00 TWD 68.72 TWD -13%
Britannia Industries Limited BRITANNIA ₹5,413 ₹1,870 -65%
Tata Consumer Products Limited TATACONSUM ₹1,089 ₹327.27 -70%
PT Indofood CBP Sukses Makmur Tbk ICBP 6,650 IDR 15,757 IDR +137%
Samyang Foods Co 003230 1,139,000 KRW 1,010,543 KRW -11%
Vietnam Dairy Products Joint Stock Company VNM 58,500 VND 68,259 VND +17%
Patanjali Foods Limited PATANJALI ₹413.80 ₹157.04 -62%
PT Mayora Indah Tbk, MYOR 1,750 IDR 2,699 IDR +54%
PT Cisarua Mountain Dairy Tbk CMRY 4,490 IDR 4,355 IDR -3%

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Frequently asked questions

Is Oba Makarnacilik Sanayi ve Ticaret A.S. (OBAMS) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 1.55 TRY versus a price of 4.81 TRY, about −68% (overvalued).
What is the fair value of OBAMS?
Our model-based fair value for Oba Makarnacilik Sanayi ve Ticaret A.S. is 1.55 TRY (as of Aug 13, 2026), built from audited fundamentals. The current price is 4.81 TRY.
What is the quality score of OBAMS?
Oba Makarnacilik Sanayi ve Ticaret A.S. has a Quality Score of 39/100. 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 Oba Makarnacilik Sanayi ve Ticaret A.S. (OBAMS)?
Oba Makarnacilik Sanayi ve Ticaret A.S. reported trailing-twelve-month revenue of about 22.8B TRY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of OBAMS?
The net profit margin of Oba Makarnacilik Sanayi ve Ticaret A.S. is about -14.0%, 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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