Pera Yatirim Holding Anonim Sirketi (TEHOL) fair value: what the stock is really worth
As of Oct 28, 2026: fair value (intrinsic value) of Pera Yatirim Holding Anonim Sirketi stock TRY 4.40, price TRY 1.87, upside +135.5%, quality 42 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Oct 28, 2026.
How to read this chart
60‑month range 0.1500 TRY – 51.85 TRY · fair‑value band 3.03 TRY – 8.09 TRY · the 1.87 TRY price screens below the 4.40 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 28, 2026.
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Tera Yatirim Teknoloji Holding A.S. is a publicly owned real estate investment trust. It is a technology and innovation-oriented investment company. It invests in mega-trends both in Turkey and on a global scale.
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It focuses on the defense industry, cybersecurity, agricultural technologies, financial technologies, renewable energy, and similar sectors. Tera Yatirim Teknoloji Holding A.S. is based in Istanbul, Turkey.
Stock analysis
Pera Yatirim Holding Anonim Sirketi (TEHOL) currently trades at 1.87 TRY, while our model-based Fair Value estimate is 4.40 TRY, implying the stock looks roughly 57.5% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 12.98 TRY per share, and 4 of the 5 models we run sit above the 1.87 TRY price.
Bear case: the Asset-Based group reads lowest at 1.17 TRY, and 1 of the 5 models stay below the price. Data coverage for this calculation is low.
Scenario range: 3.03 TRY (bear) to 8.09 TRY (bull), the price of 1.87 TRY sits below 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 Real Estate sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Pera Yatirim Holding Anonim Sirketi reported revenue of 4.0B TRY in FY2025 versus 3.6M TRY in FY2021, a compound +477.0%/yr. Reported net income was 2.8B TRY in FY2025, compounding +268.3%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 3.7B TRY (≈ $74.7M) Micro · P/E ratio 1.0 · P/S ratio 0.69 · EPS (TTM) 1.91 TRY · Net margin 70.0% · Return on equity 37.7% · Return on assets (EBIT) −1.9% · Operating margin 11.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 77 out of 100 (low confidence).
What moves the price
The share trades about 96% below its 52-week high and at its 52-week low.
For context, the median of 10 Real Estate peers we cover trades at 6% fair-value upside, at 135%, TEHOL screens cheaper than that median.
Fair Value models
Bear3.03 TRYFair Value 4.40 TRYBull8.09 TRY
Price 1.87 TRY · Upside +135.5%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (1.59 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.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
EV/EBITDA10.21 TRY13.62 TRY17.03 TRY64
Residual Income5.39 TRY7.83 TRY14.41 TRY62
P/S Multiple9.73 TRY12.98 TRY16.22 TRY58
All 5 models by family
Multiples
P/S Multiple9.73 TRY12.98 TRY16.22 TRY58
P/B Multiple5.37 TRY7.16 TRY8.95 TRY55
EV/EBITDA10.21 TRY13.62 TRY17.03 TRY64
Asset-Based
NCAV (Graham)0.7700 TRY1.17 TRY1.46 TRY52
Economic Profit
Residual Income5.39 TRY7.83 TRY14.41 TRY62
The fair value above starts from this blend and is adjusted for dilution from new shares.
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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
What shareholders gained per year (last 3 years), in TRY (mathematically smoothed) ⓘ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 3 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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+29.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+29.6%
Dividend (yield on the price)0.0%
Profit margin 2021 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.−146% → −11%
2025 sits 111% above its own trend. The rate follows the median trend of the last 3 years, not that single year.
Compare Pera Yatirim Holding Anonim Sirketi with another stock
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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.REIT - Diversified · 152 stocks
Beats the industry median on 8/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score42 · Bottom 25%
Fair Value upside+135.5% · Top 25%
Profitability
Return on equity (12 months)37.7% · Top 25%
Return on assets24.4% · Top 25%
Net margin (12 months)34.5% · Below median
Operating margin (12 months)11.4% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)87.5% · Top 25%
Valuation Multiplesvs REIT - Diversified 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.
Is Pera Yatirim Holding Anonim Sirketi (TEHOL) overvalued or undervalued?
As of Oct 28, 2026, our model estimates a fair value of 4.40 TRY versus a price of 1.87 TRY, about +135% upside (undervalued).
What is the fair value of TEHOL?
Our model-based fair value for Pera Yatirim Holding Anonim Sirketi is 4.40 TRY (as of Oct 28, 2026), built from audited fundamentals. The current price: 1.87 TRY.
What is the quality score of TEHOL?
Pera Yatirim Holding Anonim Sirketi 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 Pera Yatirim Holding Anonim Sirketi (TEHOL)?
Our model-based price target is the fair value of 4.40 TRY (as of Oct 28, 2026) from 5 valuation models. Cautious scenario 3.03 TRY, optimistic scenario 8.09 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Pera Yatirim Holding Anonim Sirketi stock forecast for 2026?
Our models put fair value at 4.40 TRY, about +135% upside versus a price of 1.87 TRY (undervalued). Cautious scenario 3.03 TRY, optimistic scenario 8.09 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Pera Yatirim Holding Anonim Sirketi (TEHOL)?
Pera Yatirim Holding Anonim Sirketi reported trailing-twelve-month revenue of about 8.5B TRY (latest available figure, as of Oct 28, 2026).
What is the intrinsic value of Pera Yatirim Holding Anonim Sirketi (TEHOL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Pera Yatirim Holding Anonim Sirketi it is 4.40 TRY per share (as of Oct 28, 2026), against a price of 1.87 TRY. It is the blended result of 5 valuation models (cash flow, earnings, asset, dividend).
Is Pera Yatirim Holding Anonim Sirketi stock overvalued or undervalued in 2026?
As of Oct 28, 2026, TEHOL trades below its calculated fair value: price 1.87 TRY, fair value 4.40 TRY, a gap of about +135% (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 TEHOL?
No. The price is what the market pays today (1.87 TRY); the fair value is what the company's own numbers justify (4.40 TRY). For Pera Yatirim Holding Anonim Sirketi the two are 2.53 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Pera Yatirim Holding Anonim Sirketi worth?
The market values Pera Yatirim Holding Anonim Sirketi at about 3.7B TRY (market capitalisation, as of Oct 28, 2026). Per share that is 1.87 TRY; our models calculate a fair value of 4.40 TRY per share.
What do the bullish and bearish scenarios say about TEHOL?
Our models span a range for Pera Yatirim Holding Anonim Sirketi: cautious scenario 3.03 TRY, base 4.40 TRY, optimistic 8.09 TRY per share (as of Oct 28, 2026, price 1.87 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TEHOL?
Pera Yatirim Holding Anonim Sirketi trades at a price-to-earnings ratio of 1.0 (as of Oct 28, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 4.40 TRY is built from several models across several years. Other multiples: P/B 0.5, P/S 0.4, EV/EBITDA 1.1.
How solid is the balance sheet of Pera Yatirim Holding Anonim Sirketi (TEHOL)?
Balance-sheet figures for Pera Yatirim Holding Anonim Sirketi (as of Oct 28, 2026): return on equity 37.7%. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is TEHOL from its 52-week high?
Pera Yatirim Holding Anonim Sirketi trades at 1.87 TRY, about 96% below its 52-week high of 51.85 TRY and at the low of 1.87 TRY (as of Oct 28, 2026). Distance from the high says nothing about value: that is what the fair value of 4.40 TRY is for.
Which stocks are comparable to Pera Yatirim Holding Anonim Sirketi?
From the same area (Real Estate) we also value Goodman Group, VICI Properties Inc, W. P. Carey Inc, Charter Hall Group, 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 Pera Yatirim Holding Anonim Sirketi stock attractive at the current price?
The data as of Oct 28, 2026: price 1.87 TRY, calculated fair value 4.40 TRY (+135%), Quality Score 42/100, from 5 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 TEHOL calculated?
We run Pera Yatirim Holding Anonim Sirketi through 5 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 4.40 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. Pera Yatirim Holding Anonim Sirketi currently trades 58 % 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 Pera Yatirim Holding Anonim Sirketi (TEHOL)?
The closing price on Oct 28, 2026 was 1.87 TRY. Our model-based fair value is 4.40 TRY, about +135% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Pera Yatirim Holding Anonim Sirketi right now?
The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (3.03 TRY). The market is more pessimistic than our downside scenario. The model range is unusually wide (3.03 TRY to 8.09 TRY). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Pera Yatirim Holding Anonim Sirketi
How large is the market capitalisation of Pera Yatirim Holding Anonim Sirketi (TEHOL)?
The market capitalisation of Pera Yatirim Holding Anonim Sirketi is 3.7B TRY (≈ $74.7M). 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 Pera Yatirim Holding Anonim Sirketi (TEHOL)?
The price-to-sales ratio of Pera Yatirim Holding Anonim Sirketi is 0.69 (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 Pera Yatirim Holding Anonim Sirketi (TEHOL)?
Earnings per share at Pera Yatirim Holding Anonim Sirketi are 1.91 TRY (price ÷ EPS = P/E 1.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Pera Yatirim Holding Anonim Sirketi (TEHOL)?
The net margin of Pera Yatirim Holding Anonim Sirketi is 70.0% (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 Pera Yatirim Holding Anonim Sirketi (TEHOL)?
The return on equity (ROE) of Pera Yatirim Holding Anonim Sirketi is 37.7% (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 Pera Yatirim Holding Anonim Sirketi (TEHOL)?
On an EBIT basis the return on assets of Pera Yatirim Holding Anonim Sirketi is −1.9% (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 Pera Yatirim Holding Anonim Sirketi (TEHOL)?
The operating margin of Pera Yatirim Holding Anonim Sirketi is 11.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Pera Yatirim Holding Anonim Sirketi (TEHOL)?
Revenue at Pera Yatirim Holding Anonim Sirketi is growing +87.5% versus a year earlier. 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 Pera Yatirim Holding Anonim Sirketi (TEHOL)?
Earnings per share at Pera Yatirim Holding Anonim Sirketi are growing −83.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Pera Yatirim Holding Anonim Sirketi (TEHOL) generate?
The free cash flow of Pera Yatirim Holding Anonim Sirketi is −1.2B 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 Pera Yatirim Holding Anonim Sirketi (TEHOL) carry?
The net debt of Pera Yatirim Holding Anonim Sirketi is 39.8M TRY (fiscal year 2024). 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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Oct 28, 2026