Türk Tuborg Bira ve Malt Sanayii A.S. (TBORG) Fair Value & Analysis
Consumer Defensive · TR · Market cap 42.0B TRY
Fair value as of: Aug 1, 2026
From 14 valuation models · updated today
Share price −1.1% over the past month.
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.
- The price is below even our cautious bear case (164.87 TRY). The market is more pessimistic than our downside scenario.
Price vs Fair Value (12 months)
12‑month range 124.30 TRY – 208.10 TRY · fair‑value band 164.87 TRY – 274.79 TRY · the 130.10 TRY price screens below the 219.83 TRY fair value. As of Aug 1, 2026.
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Türk Tuborg Bira ve Malt Sanayii A.S. (TBORG) currently trades at 130.10 TRY, while our model-based Fair Value estimate is 219.83 TRY, implying the stock looks roughly 69.0% undervalued today. We read business quality at 44/100 (below-average quality), in the Consumer Defensive 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, Türk Tuborg Bira ve Malt Sanayii A.S. generated revenue of 40.8B TRY at a net margin of 7.3%. Revenue declined 2.5% year over year. It earns a return on equity of 13.4%. The stock trades on a trailing P/E of 14.2. Fundamentals as of Aug 1, 2026
Our scenario range runs from 164.87 TRY (bear case) to 274.79 TRY (bull case); at 130.10 TRY, the current price sits below that range. The share trades about 38% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -14% fair-value upside, at 69%, TBORG screens cheaper than that median.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 1, 2026. TTM = trailing twelve months.
Quality Score breakdown
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
Türk Tuborg Bira ve Malt Sanayii A.S. produces, sells, and distributes beer and malt in Turkey and internationally. The company offers its products under the Tuborg, Carlsberg, FREDERIK, Troy, and 1664 Blanc brands, as well as imports GUINNESS, Weihenstephan, KILKENNY, Grimbergen, DESPERADOS, CAMPARI, APEROL, CINZANO, and SOL brands.
Full company description
Türk Tuborg Bira ve Malt Sanayii A.S. produces, sells, and distributes beer and malt in Turkey and internationally. The company offers its products under the Tuborg, Carlsberg, FREDERIK, Troy, and 1664 Blanc brands, as well as imports GUINNESS, Weihenstephan, KILKENNY, Grimbergen, DESPERADOS, CAMPARI, APEROL, CINZANO, and SOL brands. It also exports its products to various countries, such as the United Kingdom, the Turkish Republic of Northern Cyprus, and Iraq. The company was incorporated in 1967 and is based in Izmir, Turkey. Türk Tuborg Bira ve Malt Sanayii A.S. is a subsidiary of International Beer Breweries Ltd.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Türk Tuborg Bira ve Malt Sanayii A.S. reported revenue of 40.9B TRL in FY2025 versus 3.7B TRL in FY2021, a compound +82.7%/yr. Reported net income was 3.4B TRL in FY2025, compounding +29.4%/yr from FY2021.
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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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Beverages - Brewers stocks, each showing price versus our Fair Value estimate (as of Aug 1, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Ambev S.A ABEV | 14,120 ARS | 5,676 ARS | -60% |
| Anheuser-Busch InBev SA 1ABI | €72.28 | €46.17 | -36% |
| 1NBA 1NBA | €71.18 | €60.88 | -14% |
| Fomento Económico Mexicano, S.A. FEMSAUBD | 213.28 MXN | 269.06 MXN | +26% |
| Heineken N.V HEIA | €69.76 | €53.72 | -23% |
| Constellation Brands, Inc STZ | C$11.81 | C$6.67 | -44% |
| Carlsberg A/S CARLA | kr 1,080 | kr 643.58 | -40% |
| Heineken Holding HEIO | €63.55 | €60.17 | -5% |
| Kirin Holdings KNBWF | $18.56 | $16.71 | -10% |
| Asahi Group ASBRF | $9.75 | $15.42 | +58% |
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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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