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Türkiye Sise Ve Cam Fabrikalari A.S. (SISE) Fair Value & Analysis

Industrials · TR · Market cap 125B TRY

TS Türkiye Sise Ve Cam Fabrikalari A.S. SISE · IS
Price41.74 TRY
Fair Value56.11 TRY
Upside+34.4%
Quality44/100
Mixed Growth
Thin margins · 4.6% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/15)
Narrow moat 20/100
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Evidence: Medium Range 42.09 TRY – 70.14 TRY Share as image

Fair value as of: Aug 1, 2026

From 20 valuation models · updated yesterday

Share price −7.0% over the past month.

Below-average quality, and the price sits 34% below our fair value.

What matters now

  • The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain.
  • Our model range runs from 42.09 TRY (bear) to 70.14 TRY (bull), base 56.11 TRY. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 44/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

54.06 TRY 6.43 TRY Fair Value 56.11 TRY Apr 2021 Jul 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 1, 2026.

How to read this chart

60‑month range 6.43 TRY – 54.06 TRY · fair‑value band 42.09 TRY – 70.14 TRY · the 41.74 TRY price screens below the 56.11 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 1, 2026.

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Analysis

Türkiye Sise Ve Cam Fabrikalari A.S. (SISE) currently trades at 41.74 TRY, while our model-based Fair Value estimate is 56.11 TRY, implying the stock looks roughly 34.4% undervalued today. We read business quality at 44/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Türkiye Sise Ve Cam Fabrikalari A.S. generated revenue of 223B TRY at a net margin of 4.6%. Revenue declined 3.4% year over year. It earns a return on equity of 3.6%. Net debt stands at 120B TRY. Fundamentals as of Aug 1, 2026

Our scenario range runs from 42.09 TRY (bear case) to 70.14 TRY (bull case); at 41.74 TRY, the current price sits below that range. The share trades about 22% below its 52-week high and 30% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -14% fair-value upside, at 34%, SISE screens cheaper 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 BearBaseBull Evidence
Highest evidence
Growth DCF 0.2800 TRY 18.97 TRY 54.93 TRY 80
Residual Income 60.53 TRY 60.03 TRY 54.29 TRY 76
Rev-Margin DCF 8.99 TRY 29.49 TRY 74
All 20 models by family
DCF Models
FCF DCF 1.29 TRY 15.10 TRY 55.27 TRY 38
5Y Revenue Exit 7.04 TRY 29.83 TRY 39
5Y EBITDA Exit 26.33 TRY 73.73 TRY 161.50 TRY 41
5Y P/E Exit 21.43 TRY 72.15 TRY 138.58 TRY 38
10Y Revenue Exit 12.01 TRY 29.04 TRY 36
10Y EBITDA Exit 18.95 TRY 71.40 TRY 171.25 TRY 37
10Y P/E Exit 15.49 TRY 62.02 TRY 144.74 TRY 35
Earnings-Based
Graham-Dodd 22.45 TRY 156.53 TRY 219.67 TRY 54
Lynch FV 47.55 TRY 67.93 TRY 88.31 TRY 50
PEG = 1.0 47.55 TRY 67.93 TRY 88.31 TRY 46
Multiples
P/E Multiple 49.51 TRY 66.02 TRY 82.52 TRY 63
P/S Multiple 42.09 TRY 56.11 TRY 70.14 TRY 58
P/B Multiple 42.09 TRY 56.11 TRY 70.14 TRY 55
EV/EBITDA 36.90 TRY 55.70 TRY 74.50 TRY 54
EV/Revenue 2.57 TRY 43
Asset-Based
NCAV (Graham) 40.53 TRY 54.31 TRY 81.06 TRY 50
Growth DCF
Growth DCF 0.2800 TRY 18.97 TRY 54.93 TRY 80
Rev-Margin DCF 8.99 TRY 29.49 TRY 74
Economic Profit
Residual Income 60.53 TRY 60.03 TRY 54.29 TRY 76
Growth Earnings
Growth-Adj P/E 63.18 TRY 90.26 TRY 117.34 TRY 68

Widest divergence: Growth Earnings (90.26 TRY) versus Growth DCF (8.99 TRY). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 223B TRY
Revenue growth (YoY) -3.4%
Net margin 4.6%
Return on equity 3.6%
Free cash flow 3.9B TRY FY2025
P/E ratio 11.1
More key figures
Operating margin -0.3%
EPS (TTM) 3.77 TRY
EPS growth (YoY) +32.1%
Net debt 120B TRY FY2025

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

Quality Score breakdown

Overall quality 44/100

Of which business quality 43 · Market factors (momentum, volatility) 55

Profitability 26
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 47
Earnings quality: real cash, not paper profit
Fin. Strength 44
Balance sheet, leverage, solvency risk
Investment 8
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 48
Distance to the 52-week high (market factor)
Net Issuance 82
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

Türkiye Sise Ve Cam Fabrikalari A.S. manufactures and sells glass products. The company operates through six segments: Architectural Glass, Industrial Glass, Glass Packaging, Glassware, Chemicals, and Energy and Others.

Full company description

Türkiye Sise Ve Cam Fabrikalari A.S. manufactures and sells glass products. The company operates through six segments: Architectural Glass, Industrial Glass, Glass Packaging, Glassware, Chemicals, and Energy and Others. The company offers architectural glass products, such as flat, patterned, mirror, laminated, coated, solar power, and home appliance glass products; automotive glass products; and energy glass products. It also produces and sells glassware, as well as glass packaging products for various industries, including food, beverages, pharmaceuticals, and cosmetics; and retails glass, ceramics, porcelain, and wood and steel tableware and kitchenware, and home decoration items under the Life and Boutique concepts through Pasabahçe stores located in Turkey and international markets, as well as through online sales channels. In addition, the company produces and sells soda ash and chromium chemicals, vitamin K3 derivatives, and sodium metabisulfite to food, textiles, mining, water treatment, construction chemicals, and leather industries; glass fibers; and manufactures glass for automobiles, and light and heavy commercial vehicles. Further, it is involved in the mining of silica sand, feldspar, limestone, dolomite, kaolin, and quartzite; generation and sale of electricity; wholesale and trading of natural gas; glass recycling and waste collection activities; and production and trading of soda goods, as well as offers finance and investment, and insurance agency services. The company operates in Turkey, Germany, Italy, Bulgaria, Romania, Slovakia, Hungary, Bosnia and Herzegovina, Russia, Georgia, Ukraine, Egypt, India, the United States. The company was founded in 1935 and is headquartered in Istanbul, Turkey. Türkiye Sise Ve Cam Fabrikalari A.S. operates as a subsidiary of Türkiye Is Bankasi A.S.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Türkiye Sise Ve Cam Fabrikalari A.S. reported revenue of 225B TRL in FY2025 versus 32.1B TRL in FY2021, a compound +62.7%/yr. Reported net income was 9.9B TRL in FY2025, compounding +2.0%/yr from FY2021.

Growth Quality 70/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
225B TRY
Latest YoY
−7.6%
Avg. growth/yr (3Y)
+33.0%
Avg. growth/yr (5Y)
+60.1%
Avg. growth/yr (25Y)
−27.4%
Revenue +62.7%/yr
FY21 32.1B TRL
FY22 95.3B TRL
FY23 219B TRL
FY24 243B TRL
FY25 225B TRL
Net income +2.0%/yr
FY21 9.1B TRL
FY22 19.3B TRL
FY23 24.8B TRL
FY24 6.6B TRL
FY25 9.9B TRL

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Cite: Fair Value Calculator (2026). "Türkiye Sise Ve Cam Fabrikalari A.S. Fair Value". https://www.fairvalue-calculator.com/stock/SISE

Peer Group

Conglomerates · 371 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 44 · Below median
Fair Value upside +34% · Above median
Return on equity (TTM) 4% · Below median
Return on assets 0% · Below median
Net margin (TTM) 5% · Above median
Operating margin (TTM) -0% · Bottom 25%
Revenue growth -3% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.40× · Higher than median

Valuation Multiples vs Conglomerates median · lower = cheaper

P/E (TTM) 11.1× · Cheaper than median
P/B 0.51× · Cheaper than median
P/S (TTM) 0.56× · Cheaper than median
P/FCF 0.7× · Cheaper than median
EV/EBITDA 11.4× · Pricier than median
PEG 0.67× · 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 79 / 15
FUTURE 0 / 15
PAST 14 / 19
HEALTH 80 / 89
DIVIDEND 0 / 40

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

Stock Price Fair Value vs Fair Value
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Swire Pacific Limited 0019 HK$99.50 HK$16.77 -83%
SK Inc 034730 580,000 KRW 497,919 KRW -14%
PT Astra International Tbk, ASII 4,810 IDR 9,620 IDR +100%
Grupo Carso, S.A. GCARSOA1 127.02 MXN 66.21 MXN -48%
The Siam Cement Public Company SCC 254.00 THB 199.40 THB -21%
SRF Limited SRF ₹2,875 ₹1,053 -63%
Empresas Copec S.A COPEC 6,330 CLP 10,879 CLP +72%
Posco International Corporation 047050 50,900 KRW 61,248 KRW +20%
Tube Investments of India Limited TIINDIA ₹2,940 ₹559.30 -81%

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Frequently asked questions

Is Türkiye Sise Ve Cam Fabrikalari A.S. (SISE) overvalued or undervalued?
As of Aug 1, 2026, our model estimates a fair value of 56.11 TRY versus a price of 41.74 TRY, about +34% (undervalued).
What is the fair value of SISE?
Our model-based fair value for Türkiye Sise Ve Cam Fabrikalari A.S. is 56.11 TRY (as of Aug 1, 2026), built from audited fundamentals. The current price is 41.74 TRY.
What is the quality score of SISE?
Türkiye Sise Ve Cam Fabrikalari A.S. has a Quality Score of 44/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Türkiye Sise Ve Cam Fabrikalari A.S. (SISE)?
Türkiye Sise Ve Cam Fabrikalari A.S. reported trailing-twelve-month revenue of about 223B TRY (latest available figure, as of Aug 1, 2026).
What is the net profit margin of SISE?
The net profit margin of Türkiye Sise Ve Cam Fabrikalari A.S. is about 4.6%, meaning it keeps roughly 4.6% of revenue as net income. 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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