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Polisan Holding AS (POLHO) fair value: what the stock is really worth

As of Oct 28, 2026: fair value (intrinsic value) of Polisan Holding AS stock TRY 15.74, price TRY 13.30, upside +18.3%, quality 27 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

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Basic Materials TR · ISIN TREPOHO00012

PH Polisan Holding AS logo Thin data Oct 29, 2026

Polisan Holding AS

POLHO · IS
Speculative

The stock costs 16% less than our calculation considers fair.

Fair value 15.74 TRY · Undervalued (16%)
Low debt
Mixed Growth (revenue YoY −9.8 %/yr in TRY)
Revenue last quarter 14% below a year ago.
Quality 27/100
Loss-making · -39.9% net margin (TTM)
Negative free cash flow
Trails peers (3/12)
Narrow moat 6/100 · thin data
Thin data
⟳ Cyclical
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

24.24 TRY 2.39 TRY Fair Value 15.74 TRY Aug 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year. As of Oct 29, 2026.

How to read this chart

60‑month range 2.39 TRY – 24.24 TRY · fair‑value band 10.70 TRY – 20.76 TRY · the 13.30 TRY price screens below the 15.74 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 29, 2026.

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Company profile

Polisan Holding A.S., together with its subsidiaries, engages in the production and sale of chemical products in Turkey. It operates through Chemical Products, Port, and Services segments.

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The company offers formaldehyde, formaldehyde resins, construction chemicals, and AUS 32; and pouring liquid storage, general warehouse, and loading and unloading services for dry bulk and general cargo vessels.

It also provides polyethylene terephthalate granule and preform products for use in beverage, food, and drink containers, as well as in synthetic fibers. In addition, the company offers paints and construction chemicals. Further, the company provides port, storage, and warehousing services.

Polisan Holding A.S. was founded in 2000 and is headquartered in Istanbul, Turkey.

Stock analysis

Polisan Holding AS (POLHO) currently trades at 13.30 TRY, while our model-based Fair Value estimate is 15.74 TRY, implying the stock looks roughly 15.5% undervalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of 11.93 TRY per share, and 1 of the 6 models we run sit above the 13.30 TRY price.

Bear case: the Earnings-Based group reads lowest at 3.51 TRY, and 5 of the 6 models stay below the price. Data coverage for this calculation is low.

Scenario range: 10.70 TRY (bear) to 20.76 TRY (bull), the price of 13.30 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 27/100 (below-average quality), in the Basic Materials sector.

Mixed Growth: Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.

Polisan Holding AS reported revenue of 6.4B TRY in FY2025 versus 2.0B TRY in FY2021, a compound +34.3%/yr. Reported net income was −1.4B TRY in FY2025.

Key figures

Market cap 10.1B TRY (≈ $202M) Micro · P/S ratio 1.73 · EPS (TTM) −2.40 TRY · Dividend yield 1.4% · Net margin −22.5% · Return on equity −12.8% · Return on assets (EBIT) 5.8% · Operating margin −9.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 6 out of 100 (low confidence).

What moves the price

The share trades about 44% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −44% fair-value upside, at 18%, POLHO screens cheaper than that median.

Fair Value models

Bear 10.70 TRY Fair Value 15.74 TRY Bull 20.76 TRY
Price 13.30 TRY · Upside +18.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. 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. Coverage ⓘCoverage = 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.
Best data coverage
EPV 3.23 TRY 3.51 TRY 3.72 TRY 74
ROIC Compounder 3.23 TRY 3.51 TRY 3.72 TRY 72
EV/EBITDA 9.90 TRY 13.93 TRY 17.96 TRY 67
All 6 models by family
Earnings-Based
EPV 3.23 TRY 3.51 TRY 3.72 TRY 74
Multiples
EV/EBIT 5.35 TRY 7.87 TRY 10.38 TRY 65
EV/EBITDA 9.90 TRY 13.93 TRY 17.96 TRY 67
EV/Revenue 4.34 TRY 7.15 TRY 9.95 TRY 52
Asset-Based
NCAV (Graham) 8.90 TRY 11.93 TRY 17.80 TRY 54
Economic Profit
ROIC Compounder 3.23 TRY 3.51 TRY 3.72 TRY 72

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Quality Score breakdown

Overall quality 27/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 6
How much profit the company makes from its sales and capital
Quality Growth 18
Are margins and returns getting better?
Cashflow 10
Do the profits arrive as real cash?
Financial strength 52
Debt, balance sheet and risk of trouble
Investment 14
Does it invest with discipline instead of growing at any price?
Low Volatility 36
How calm the share price moves, does not count
Momentum 12
Price trend of the last 3 to 12 months, does not count
Near the 52-week high 2
Distance to the 52-week high, does not count
New shares 92
Buys back shares or issues new ones?

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Revenue & earnings trend

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. 55/100
Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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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.Specialty Chemicals · 725 stocks

Beats the industry median on 3/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 27 · Bottom 25%
Fair Value upside +18.3% · Top 25%
Profitability
Return on assets −8.0% · Bottom 25%
Net margin (12 months) −39.9% · Bottom 25%
Operating margin (12 months) −9.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −13.8% · Bottom 25%
Dividend yield (12 months) 1.4% · Below median
Balance sheet
Debt / equity 0.03× · Below median

Valuation Multiplesvs Specialty Chemicals median · lower = cheaper

P/B 0.74× · Cheapest 25%
P/S (12 months) 1.73× · Pricier than median
EV/EBITDA 19.0× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)58 · sector 0
FUTURE (revenue growth)0 · sector 66
PAST (return on equity)0 · sector 27
HEALTH (low debt)99 · sector 95
DIVIDEND (yield)28 · sector 31

Context: sector, industry, market

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

Similar stocks

10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Wanhua Chemical Group 600309 ¥70.61 ¥68.03 −4% vs POLHO
Linde plc LIN $503.15 $444.78 −12% vs POLHO
Nan Ya Plastics Corporation 1303 297.50 TWD 239.59 TWD −19% vs POLHO
PPG Industries, Inc PPG $113.44 $77.19 −32% vs POLHO
Sika AG SIKA CHF 175.25 CHF 98.89 −44% vs POLHO
The Sherwin-Williams Company SHW $326.01 $145.67 −55% vs POLHO
Givaudan SA GIVN CHF 3,916 CHF 1,554 −60% vs POLHO
EMS-CHEMIE HOLDING AG EMSN CHF 850.50 CHF 284.63 −67% vs POLHO
Ecolab Inc ECL $291.27 $96.56 −67% vs POLHO
DSM-Firmenich AG DSFIR CHF 100.90 CHF 29.15 −71% vs POLHO

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Polisan Holding AS · Fair Value
15.74 TRY +16%Fair Value
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Cite: Fair Value Calculator (2026). "Polisan Holding AS Fair Value". https://www.fairvalue-calculator.com/stock/POLHO

Frequently asked questions

Is Polisan Holding AS (POLHO) overvalued or undervalued?
As of Oct 29, 2026, our model estimates a fair value of 15.74 TRY versus a price of 13.30 TRY, about +18% upside (undervalued).
What is the fair value of POLHO?
Our model-based fair value for Polisan Holding AS is 15.74 TRY (as of Oct 29, 2026), built from audited fundamentals. The current price: 13.30 TRY.
What is the quality score of POLHO?
Polisan Holding AS has a Quality Score of 27/100. 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 Polisan Holding AS (POLHO)?
Our model-based price target is the fair value of 15.74 TRY (as of Oct 29, 2026) from 6 valuation models. Cautious scenario 10.70 TRY, optimistic scenario 20.76 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Polisan Holding AS stock forecast for 2026?
Our models put fair value at 15.74 TRY, about +18% upside versus a price of 13.30 TRY (undervalued). Cautious scenario 10.70 TRY, optimistic scenario 20.76 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Polisan Holding AS (POLHO)?
Polisan Holding AS reported trailing-twelve-month revenue of about 5.8B TRY (latest available figure, as of Oct 29, 2026).
Does Polisan Holding AS pay a dividend?
Polisan Holding AS currently shows a dividend yield of 1.39% relative to its recent price (as of Oct 29, 2026).
What is the intrinsic value of Polisan Holding AS (POLHO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Polisan Holding AS it is 15.74 TRY per share (as of Oct 29, 2026), against a price of 13.30 TRY. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Polisan Holding AS stock overvalued or undervalued in 2026?
As of Oct 29, 2026, POLHO trades below its calculated fair value: price 13.30 TRY, fair value 15.74 TRY, a gap of about +18% (undervalued). 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 POLHO?
No. The price is what the market pays today (13.30 TRY); the fair value is what the company's own numbers justify (15.74 TRY). For Polisan Holding AS the two are 2.44 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Polisan Holding AS worth?
The market values Polisan Holding AS at about 10.1B TRY (market capitalisation, as of Oct 29, 2026). Per share that is 13.30 TRY; our models calculate a fair value of 15.74 TRY per share.
What do the bullish and bearish scenarios say about POLHO?
Our models span a range for Polisan Holding AS: cautious scenario 10.70 TRY, base 15.74 TRY, optimistic 20.76 TRY per share (as of Oct 29, 2026, price 13.30 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Polisan Holding AS (POLHO)?
Balance-sheet figures for Polisan Holding AS (as of Oct 29, 2026): return on equity −12.8%, debt of 0.03 per unit of equity. They feed the Quality Score of 27/100, which measures business quality independently of the share price.
How far is POLHO from its 52-week high?
Polisan Holding AS trades at 13.30 TRY, about 44% below its 52-week high of 23.56 TRY and 3% above the low of 12.92 TRY (as of Oct 28, 2026). Distance from the high says nothing about value: that is what the fair value of 15.74 TRY is for.
Which stocks are comparable to Polisan Holding AS?
From the same area (Basic Materials) we also value Linde plc, Ecolab Inc, The Sherwin-Williams Company, Nan Ya Plastics Corporation, 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 Polisan Holding AS stock attractive at the current price?
The data as of Oct 29, 2026: price 13.30 TRY, calculated fair value 15.74 TRY (+18%), Quality Score 27/100, from 6 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 POLHO calculated?
We run Polisan Holding AS through 6 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 15.74 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 13.1 % above its aggregate fair value. Polisan Holding AS currently trades 16 % below its own fair value, and the market average says nothing about that. 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 Polisan Holding AS (POLHO)?
The closing price on Oct 28, 2026 was 13.30 TRY. Our model-based fair value is 15.74 TRY, about +18% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Polisan Holding AS right now?
A fairly wide model range (10.70 TRY to 20.76 TRY) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Polisan Holding AS

How large is the market capitalisation of Polisan Holding AS (POLHO)?
The market capitalisation of Polisan Holding AS is 10.1B TRY (≈ $202M). 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 Polisan Holding AS (POLHO)?
The price-to-sales ratio of Polisan Holding AS is 1.73 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Polisan Holding AS (POLHO)?
Earnings per share at Polisan Holding AS are −2.40 TRY. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Polisan Holding AS (POLHO)?
The dividend yield of Polisan Holding AS is 1.4%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Polisan Holding AS (POLHO)?
The net margin of Polisan Holding AS is −22.5% (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 Polisan Holding AS (POLHO)?
The return on equity (ROE) of Polisan Holding AS is −12.8% (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 Polisan Holding AS (POLHO)?
On an EBIT basis the return on assets of Polisan Holding AS is 5.8% (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 Polisan Holding AS (POLHO)?
The operating margin of Polisan Holding AS is −9.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Polisan Holding AS (POLHO)?
Revenue at Polisan Holding AS is growing −13.8% versus a year earlier (3y avg +15.1%). 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 Polisan Holding AS (POLHO)?
Earnings per share at Polisan Holding AS are growing −80.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Polisan Holding AS (POLHO) generate?
The free cash flow of Polisan Holding AS is −432M TRY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Polisan Holding AS (POLHO) carry?
The net debt of Polisan Holding AS is 1.7B TRY (fiscal year 2025). 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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