Oyak Cimento Fabrikalari AS (OYAKC) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Oyak Cimento Fabrikalari AS TRY 19.75, price TRY 20.92, upside -5.6%, quality 42 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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OYAK Çimento Fabrikalari A.S., together with its subsidiaries, engages in the production and sale of clinker and cement in Turkey. The company offers white, gray, CEM I, CEM V, and SLAG cement; ready-mixed concrete; and hydrated and quick calcium lime.
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OYAK Çimento Fabrikalari A.S., together with its subsidiaries, engages in the production and sale of clinker and cement in Turkey. The company offers white, gray, CEM I, CEM V, and SLAG cement; ready-mixed concrete; and hydrated and quick calcium lime. It is also involved in mining; information technology; and manufacturing and trading of construction and building materials. The company exports its products. OYAK Çimento Fabrikalari A.S. was founded in 1969 and is headquartered in Çankaya, Turkey. As of March 6, 2024, OYAK Çimento Fabrikalari A.S. operates as a subsidiary of TCC OYAK Amsterdam Holdings B.V.
Stock analysis
Oyak Cimento Fabrikalari AS (OYAKC) currently trades at 20.92 TRY, while our model-based Fair Value estimate is 19.75 TRY, so the stock looks roughly fairly valued today (gap 5.9%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 77.61 TRY per share, and 19 of the 24 models we run sit above the 20.92 TRY price.
Bear case: the Asset-Based group reads lowest at 8.68 TRY, and 5 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 9.85 TRY (bear) to 25.65 TRY (bull), the price of 20.92 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 42/100 (below-average quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Oyak Cimento Fabrikalari AS reported revenue of 56.5B TRY in FY2025 versus 4.7B TRY in FY2021, a compound +86.4%/yr. Reported net income was 8.8B TRY in FY2025, compounding +86.4%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 102B TRY (≈ $2.1B) · P/E ratio 16.5 · P/S ratio 2.55 · EPS (TTM) 1.27 TRY · Net margin 15.5% · Return on equity 9.7% · Return on assets (EBIT) 23.3% · Operating margin 16.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 24% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −46% fair-value upside, at −6%, OYAKC screens cheaper than that median.
Fair Value models
Bear 9.85 TRYFair Value 19.75 TRYBull 25.65 TRY
Price 20.92 TRY · Upside -5.6%
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 2025 figures (about 9 months old). Earnings retained since then (0.9638 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.75/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−2.8%
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.
+64.4%
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.
+80.8%
Start year 2020 (pandemic)
Revenue growth 6 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.
+72.1%
’19
’20
’21
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’23
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’25
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. Basis: EBIT basis. 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.
+35.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+35.2%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘ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.12% → 20%
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
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).
+26.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+18.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (Turkey: IMF forecast 19.3% a year to 2030, 28.5% from 2016 to 2025) that is about +6.4% a year for the price and −0.7% for the forecasts.
Compare Oyak Cimento Fabrikalari 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.Building Materials · 250 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score42 · Bottom 25%
Fair Value upside−5.6% · Above median
Profitability
Return on equity (TTM)9.7% · Above median
Return on assets7.6% · Top 25%
Net margin (TTM)11.7% · Top 25%
Operating margin (TTM)16.5% · Top 25%
Growth and dividend
Revenue growth−4.8% · Below median
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity0.02× · Lowest 25%
Valuation Multiplesvs Building Materials 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). "Oyak Cimento Fabrikalari AS Fair Value". https://www.fairvalue-calculator.com/stock/OYAKC
Frequently asked questions
Is Oyak Cimento Fabrikalari AS (OYAKC) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of 19.75 TRY versus a price of 20.92 TRY, about −6% upside (fairly valued).
What is the fair value of OYAKC?
Our model-based fair value for Oyak Cimento Fabrikalari AS is 19.75 TRY (as of Oct 3, 2026), built from audited fundamentals. The current price: 20.92 TRY.
What is the quality score of OYAKC?
Oyak Cimento Fabrikalari AS has a Quality Score of 42/100. 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 Oyak Cimento Fabrikalari AS (OYAKC)?
Our model-based price target is the fair value of 19.75 TRY (as of Oct 3, 2026) from 24 valuation models. Cautious scenario 9.85 TRY, optimistic scenario 25.65 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Oyak Cimento Fabrikalari AS stock forecast for 2026?
Our models put fair value at 19.75 TRY, about −6% upside versus a price of 20.92 TRY (fairly valued). Cautious scenario 9.85 TRY, optimistic scenario 25.65 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Oyak Cimento Fabrikalari AS (OYAKC)?
Oyak Cimento Fabrikalari AS reported trailing-twelve-month revenue of about 52.7B TRY (latest available figure, as of Oct 3, 2026).
What growth is priced into Oyak Cimento Fabrikalari AS (OYAKC)?
For today's price to be fair in a discounted-cash-flow model, Oyak Cimento Fabrikalari AS would have to grow free cash flow by +26.9 % per year for five years (discount rate 14.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +80.8 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of OYAKC use?
Our models discount Oyak Cimento Fabrikalari AS at 14.2 %: a base by market capitalisation (mid), 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 Oyak Cimento Fabrikalari AS that is +26.9 % per year a year over ten years, using the same discount rate (14.2 %) and the same formula as our fair value.
How much growth has Oyak Cimento Fabrikalari AS (OYAKC) delivered so far?
Over the past 5 years revenue at Oyak Cimento Fabrikalari AS grew +80.8 % a year. The price currently implies +26.9 % 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 Oyak Cimento Fabrikalari AS (OYAKC) growing?
The median revenue growth in the sector is +8.9 % a year. That is the yardstick for the growth priced into Oyak Cimento Fabrikalari AS (+26.9 % 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 Oyak Cimento Fabrikalari AS (OYAKC)?
The free-cash-flow yield on the price is 3.16 %: that much free cash flow Oyak Cimento Fabrikalari AS produces per unit of market value. When it exceeds the discount rate of our models (14.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Oyak Cimento Fabrikalari AS (OYAKC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Oyak Cimento Fabrikalari AS it is 19.75 TRY per share (as of Oct 3, 2026), against a price of 20.92 TRY. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Oyak Cimento Fabrikalari AS stock overvalued or undervalued in 2026?
As of Oct 3, 2026, OYAKC trades above its calculated fair value: price 20.92 TRY, fair value 19.75 TRY, a gap of about −6% (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 OYAKC?
No. The price is what the market pays today (20.92 TRY); the fair value is what the company's own numbers justify (19.75 TRY). For Oyak Cimento Fabrikalari AS the two are 1.17 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Oyak Cimento Fabrikalari AS worth?
The market values Oyak Cimento Fabrikalari AS at about 102B TRY (market capitalisation, as of Oct 3, 2026). Per share that is 20.92 TRY; our models calculate a fair value of 19.75 TRY per share.
What do the bullish and bearish scenarios say about OYAKC?
Our models span a range for Oyak Cimento Fabrikalari AS: cautious scenario 9.85 TRY, base 19.75 TRY, optimistic 25.65 TRY per share (as of Oct 3, 2026, price 20.92 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of OYAKC?
Oyak Cimento Fabrikalari AS trades at a price-to-earnings ratio of 16.5 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 19.75 TRY is built from several models across several years. Other multiples: P/B 1.6, P/S 1.9, EV/EBITDA 6.6.
How solid is the balance sheet of Oyak Cimento Fabrikalari AS (OYAKC)?
Balance-sheet figures for Oyak Cimento Fabrikalari AS (as of Oct 3, 2026): return on equity 9.7%, debt of 0.02 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is OYAKC from its 52-week high?
Oyak Cimento Fabrikalari AS trades at 20.92 TRY, about 24% below its 52-week high of 27.62 TRY and 8% above the low of 19.40 TRY (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 19.75 TRY is for.
Which stocks are comparable to Oyak Cimento Fabrikalari AS?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Martin Marietta Materials, Inc, UltraTech Cement Limited, 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 Oyak Cimento Fabrikalari AS stock attractive at the current price?
The data as of Oct 3, 2026: price 20.92 TRY, calculated fair value 19.75 TRY (−6%), Quality Score 42/100, from 24 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 OYAKC calculated?
We run Oyak Cimento Fabrikalari AS through 24 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 19.75 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 14.9 % above its aggregate fair value. Oyak Cimento Fabrikalari AS 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 Oyak Cimento Fabrikalari AS (OYAKC)?
The closing price on Oct 2, 2026 was 20.92 TRY. Our model-based fair value is 19.75 TRY, about −6% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Oyak Cimento Fabrikalari AS right now?
The model range is unusually wide (9.85 TRY to 25.65 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 Oyak Cimento Fabrikalari AS
How large is the market capitalisation of Oyak Cimento Fabrikalari AS (OYAKC)?
The market capitalisation of Oyak Cimento Fabrikalari AS is 102B TRY (≈ $2.1B). 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 Oyak Cimento Fabrikalari AS (OYAKC)?
The price-to-sales ratio of Oyak Cimento Fabrikalari AS is 2.55 (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 Oyak Cimento Fabrikalari AS (OYAKC)?
Earnings per share at Oyak Cimento Fabrikalari AS are 1.27 TRY (price ÷ EPS = P/E 16.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Oyak Cimento Fabrikalari AS (OYAKC)?
The net margin of Oyak Cimento Fabrikalari AS is 15.5% (fiscal year 2025). 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 Oyak Cimento Fabrikalari AS (OYAKC)?
The return on equity (ROE) of Oyak Cimento Fabrikalari AS is 9.7% (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 Oyak Cimento Fabrikalari AS (OYAKC)?
On an EBIT basis the return on assets of Oyak Cimento Fabrikalari AS is 23.3% (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 Oyak Cimento Fabrikalari AS (OYAKC)?
The operating margin of Oyak Cimento Fabrikalari AS is 16.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Oyak Cimento Fabrikalari AS (OYAKC)?
Revenue at Oyak Cimento Fabrikalari AS is growing −4.8% versus a year earlier (3y avg +64.4%). 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 Oyak Cimento Fabrikalari AS (OYAKC)?
Earnings per share at Oyak Cimento Fabrikalari AS are growing −38.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Oyak Cimento Fabrikalari AS (OYAKC) carry?
The net debt of Oyak Cimento Fabrikalari AS is 123M TRY (fiscal year 2021, ≈ 0.0 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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