Pera Yatirim Holding Anonim Sirketi (TEHOL) fair value: what the stock is really worth
We calculate from audited financials what Pera Yatirim Holding Anonim Sirketi is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.
How to read this chart
60‑month range 0.1500 TRY – 51.85 TRY · fair‑value band 6.03 TRY – 34.03 TRY · the 48.32 TRY price screens above the 8.51 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 13, 2026.
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. It focuses on the defense industry, cybersecurity, agricultural technologies, financial technologies, renewable energy, and similar sectors.
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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. 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 48.32 TRY, while our model-based Fair Value estimate is 8.51 TRY, implying the stock looks roughly 467.9% overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 15.10 TRY per share, and 0 of the 5 models we run sit above the 48.32 TRY price.
Bear case: the Asset-Based group reads lowest at 2.72 TRY, and 5 of the 5 models stay below the price. Evidence for this calculation is low.
Scenario range: 6.03 TRY (bear) to 34.03 TRY (bull), the price of 48.32 TRY sits above 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 43/100 (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 96.4B TRY (≈ $2.0B) · P/E ratio 26.7 · P/S ratio 18.7 · EPS (TTM) 1.81 TRY · Net margin 70.0% · Return on equity 54.9% · Return on assets (EBIT) −1.9% · Operating margin −39.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 278% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −21% fair-value upside, at −82%, TEHOL screens richer than that median.
Fair Value models
Bear 6.03 TRYFair Value 8.51 TRYBull 34.03 TRY
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 8 months old). Earnings retained since then (1.28 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.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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+9,762.6%
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.
+499.9%
’21
’22
’23
’24
’25
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
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.REIT - Diversified · 155 stocks
Beats the industry median on 3/11 measures
Overall it trails its industry peers.
Valuation
Quality Score42 · Bottom 25%
Fair Value upside−76% · Bottom 25%
Profitability
Return on equity (TTM)55% · Top 25%
Return on assets−2% · Bottom 25%
Net margin (TTM)81% · Top 25%
Operating margin (TTM)−39% · Bottom 25%
Growth and dividend
Revenue growth19% · Top 25%
Valuation Multiplesvs REIT - Diversified median · lower = cheaper
P/E (TTM)26.7× · Priciest 25%
P/B11.40× · Priciest 25%
P/S (TTM)20.18× · Priciest 25%
EV/EBITDA60.2× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 19
FUTURE (revenue growth)94· sector 16
PAST (return on equity)100· sector 19
HEALTH (low debt)0· sector 75
DIVIDEND (yield)0· sector 100
VALUE 0: the price sits above our fair-value range.
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 Sep 13, 2026, our model estimates a fair value of 8.51 TRY versus a price of 48.32 TRY, about −82% upside (overvalued).
What is the fair value of TEHOL?
Our model-based fair value for Pera Yatirim Holding Anonim Sirketi is 8.51 TRY (as of Sep 13, 2026), built from audited fundamentals. The current price: 48.32 TRY.
What is the quality score of TEHOL?
Pera Yatirim Holding Anonim Sirketi has a Quality Score of 43/100. 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 8.51 TRY (as of Sep 13, 2026) from 5 valuation models. Cautious scenario 6.03 TRY, optimistic scenario 34.03 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 8.51 TRY, about −82% upside versus a price of 48.32 TRY (overvalued). Cautious scenario 6.03 TRY, optimistic scenario 34.03 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 4.6B TRY (latest available figure, as of Sep 13, 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 8.51 TRY per share (as of Sep 13, 2026), against a price of 48.32 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 Sep 13, 2026, TEHOL trades above its calculated fair value: price 48.32 TRY, fair value 8.51 TRY, a gap of about −82% (overvalued). 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 (48.32 TRY); the fair value is what the company's own numbers justify (8.51 TRY). For Pera Yatirim Holding Anonim Sirketi the two are 39.81 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 96.4B TRY (market capitalisation, as of Sep 13, 2026). Per share that is 48.32 TRY; our models calculate a fair value of 8.51 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 6.03 TRY, base 8.51 TRY, optimistic 34.03 TRY per share (as of Sep 13, 2026, price 48.32 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 26.7 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 8.51 TRY is built from several models across several years. Other multiples: P/B 11.4, P/S 20.2, EV/EBITDA 60.2.
How solid is the balance sheet of Pera Yatirim Holding Anonim Sirketi (TEHOL)?
Balance-sheet figures for Pera Yatirim Holding Anonim Sirketi (as of Sep 13, 2026): return on equity 54.9%. They feed the Quality Score of 43/100, 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 48.32 TRY, about 10% below its 52-week high of 53.40 TRY and 278% above the low of 12.79 TRY (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of 8.51 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 Sep 13, 2026: price 48.32 TRY, calculated fair value 8.51 TRY (−82%), Quality Score 43/100, 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 8.51 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 15.6 % above its aggregate fair value. Pera Yatirim Holding Anonim Sirketi 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 Pera Yatirim Holding Anonim Sirketi (TEHOL)?
The closing price on Sep 14, 2026 was 48.32 TRY. Our model-based fair value is 8.51 TRY, about −82% upside (overvalued). 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 price sits above even our optimistic bull case (34.03 TRY). The favourable scenario is already priced in. Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (6.03 TRY to 34.03 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 96.4B TRY (≈ $2.0B). 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 18.7 (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 1.81 TRY (price ÷ EPS = P/E 26.7). 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 54.9% (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 −39.3% (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 +18.7% versus a year earlier (3y avg +500%). 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 −98.6% 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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