Europap Tezol Kagit Sanayi Ve Ticaret AS (TEZOL) fair value: what the stock is really worth
We calculate from audited financials what Europap Tezol Kagit Sanayi Ve Ticaret AS 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 2.57 TRY – 22.75 TRY · fair‑value band 11.04 TRY – 20.51 TRY · the 8.82 TRY price screens below the 15.77 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.
Europap Tezol Kagit Sanayi ve Ticaret A.S. produces and sells cleaning papers and paper rolls materials in Turkey. It offers jumbo rolls, napkins, facial tissues, pocket tissues, Z-towel, dispenser towels, toilet papers, and kitchen towels under the Softy, Mare, Ecco Y.D, and Dolce brands as well as private label brands.
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Europap Tezol Kagit Sanayi ve Ticaret A.S. produces and sells cleaning papers and paper rolls materials in Turkey. It offers jumbo rolls, napkins, facial tissues, pocket tissues, Z-towel, dispenser towels, toilet papers, and kitchen towels under the Softy, Mare, Ecco Y.D, and Dolce brands as well as private label brands. The company was incorporated in 1969 and is based in Izmir, Turkey.
Stock analysis
Europap Tezol Kagit Sanayi Ve Ticaret AS (TEZOL) currently trades at 8.82 TRY, while our model-based Fair Value estimate is 15.77 TRY, implying the stock looks roughly 44.1% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 24.59 TRY per share, and 17 of the 24 models we run sit above the 8.82 TRY price.
Bear case: the Multiples group reads lowest at 6.23 TRY, and 7 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 11.04 TRY (bear) to 20.51 TRY (bull), the price of 8.82 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 46/100 (below-average quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Europap Tezol Kagit Sanayi Ve Ticaret AS reported revenue of 5.6B TRY in FY2025 versus 878M TRY in FY2021, a compound +58.8%/yr. Reported net income was 183M TRY in FY2025, compounding −7.9%/yr from FY2021.
Key figures
Market cap 5.2B TRY (≈ $106M) · P/E ratio 29.4 · P/S ratio 0.96 · EPS (TTM) 0.3000 TRY · Net margin 3.3% · Return on equity 2.6% · Return on assets (EBIT) 10.9% · Operating margin 1.9%.
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 56% below its 52-week high, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 22% fair-value upside, at 79%, TEZOL screens cheaper than that median.
Fair Value models
Bear 11.04 TRYFair Value 15.77 TRYBull 20.51 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 (0.2112 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.84/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−15.3%
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.
+32.6%
Revenue growth 5 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.
+54.0%
Revenue growth 7 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.
+42.1%
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What shareholders gained per year (last 5 years), in TRY ⓘ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 5 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. 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.
−6.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.0%
Dividend (yield on the price)0.0%
Profit margin 2020 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.23% → 5%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−11.5%
Yearly growth needed for the next five years to justify today's price.
Compare Europap Tezol Kagit Sanayi Ve Ticaret AS 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.Paper & Paper Products · 120 stocks
Beats the industry median on 3/14 measures
Overall it trails its industry peers.
Valuation
Quality Score46 · Below median
Fair Value upside−17% · Below median
Profitability
Return on equity (TTM)3% · Below median
Return on assets1% · Below median
Net margin (TTM)3% · Above median
Operating margin (TTM)2% · Below median
Growth and dividend
Revenue growth−8% · Bottom 25%
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity0.02× · Lowest 25%
Valuation Multiplesvs Paper & Paper Products 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.
Cite: Fair Value Calculator (2026). "Europap Tezol Kagit Sanayi Ve Ticaret AS Fair Value". https://www.fairvalue-calculator.com/stock/TEZOL
Frequently asked questions
Is Europap Tezol Kagit Sanayi Ve Ticaret AS (TEZOL) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of 15.77 TRY versus a price of 8.82 TRY, about +79% upside (undervalued).
What is the fair value of TEZOL?
Our model-based fair value for Europap Tezol Kagit Sanayi Ve Ticaret AS is 15.77 TRY (as of Sep 13, 2026), built from audited fundamentals. The current price: 8.82 TRY.
What is the quality score of TEZOL?
Europap Tezol Kagit Sanayi Ve Ticaret AS has a Quality Score of 46/100. 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 Europap Tezol Kagit Sanayi Ve Ticaret AS (TEZOL)?
Our model-based price target is the fair value of 15.77 TRY (as of Sep 13, 2026) from 24 valuation models. Cautious scenario 11.04 TRY, optimistic scenario 20.51 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Europap Tezol Kagit Sanayi Ve Ticaret AS stock forecast for 2026?
Our models put fair value at 15.77 TRY, about +79% upside versus a price of 8.82 TRY (undervalued). Cautious scenario 11.04 TRY, optimistic scenario 20.51 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Europap Tezol Kagit Sanayi Ve Ticaret AS (TEZOL)?
Europap Tezol Kagit Sanayi Ve Ticaret AS reported trailing-twelve-month revenue of about 5.5B TRY (latest available figure, as of Sep 13, 2026).
What growth is priced into Europap Tezol Kagit Sanayi Ve Ticaret AS (TEZOL)?
For today's price to be fair in a discounted-cash-flow model, Europap Tezol Kagit Sanayi Ve Ticaret AS would have to grow free cash flow by -11.5 % per year for five years (discount rate 15.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +54.0 % per year. As of Sep 13, 2026.
What discount rate (WACC) does the fair value of TEZOL use?
Our models discount Europap Tezol Kagit Sanayi Ve Ticaret AS at 15.7 %: a base by market capitalisation (micro), damped by beta 0.29, country premium for Turkey. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Europap Tezol Kagit Sanayi Ve Ticaret AS that is -11.5 % per year a year over ten years, using the same discount rate (15.7 %) and the same formula as our fair value.
How much growth has Europap Tezol Kagit Sanayi Ve Ticaret AS (TEZOL) delivered so far?
Over the past 5 years revenue at Europap Tezol Kagit Sanayi Ve Ticaret AS grew +54.0 % a year. The price currently implies -11.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Europap Tezol Kagit Sanayi Ve Ticaret AS (TEZOL) growing?
The median revenue growth in the sector is +3.2 % a year. That is the yardstick for the growth priced into Europap Tezol Kagit Sanayi Ve Ticaret AS (-11.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Europap Tezol Kagit Sanayi Ve Ticaret AS (TEZOL)?
The free-cash-flow yield on the price is 18.82 %: that much free cash flow Europap Tezol Kagit Sanayi Ve Ticaret AS produces per unit of market value. When it exceeds the discount rate of our models (15.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Europap Tezol Kagit Sanayi Ve Ticaret AS (TEZOL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Europap Tezol Kagit Sanayi Ve Ticaret AS it is 15.77 TRY per share (as of Sep 13, 2026), against a price of 8.82 TRY. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Europap Tezol Kagit Sanayi Ve Ticaret AS stock overvalued or undervalued in 2026?
As of Sep 13, 2026, TEZOL trades below its calculated fair value: price 8.82 TRY, fair value 15.77 TRY, a gap of about +79% (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 TEZOL?
No. The price is what the market pays today (8.82 TRY); the fair value is what the company's own numbers justify (15.77 TRY). For Europap Tezol Kagit Sanayi Ve Ticaret AS the two are 6.95 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Europap Tezol Kagit Sanayi Ve Ticaret AS worth?
The market values Europap Tezol Kagit Sanayi Ve Ticaret AS at about 5.2B TRY (market capitalisation, as of Sep 13, 2026). Per share that is 8.82 TRY; our models calculate a fair value of 15.77 TRY per share.
What do the bullish and bearish scenarios say about TEZOL?
Our models span a range for Europap Tezol Kagit Sanayi Ve Ticaret AS: cautious scenario 11.04 TRY, base 15.77 TRY, optimistic 20.51 TRY per share (as of Sep 13, 2026, price 8.82 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TEZOL?
Europap Tezol Kagit Sanayi Ve Ticaret AS trades at a price-to-earnings ratio of 29.4 (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 15.77 TRY is built from several models across several years. Other multiples: P/B 0.9, P/S 0.9, EV/EBITDA 11.3.
How solid is the balance sheet of Europap Tezol Kagit Sanayi Ve Ticaret AS (TEZOL)?
Balance-sheet figures for Europap Tezol Kagit Sanayi Ve Ticaret AS (as of Sep 13, 2026): return on equity 2.6%, debt of 0.02 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is TEZOL from its 52-week high?
Europap Tezol Kagit Sanayi Ve Ticaret AS trades at 8.82 TRY, about 56% below its 52-week high of 20.26 TRY (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of 15.77 TRY is for.
Which stocks are comparable to Europap Tezol Kagit Sanayi Ve Ticaret AS?
From the same area (Basic Materials) we also value UPM-Kymmene Oyj, Suzano S.A, Svenska Cellulosa Aktiebolaget SCA (publ), Shandong Sunpaper Co, 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 Europap Tezol Kagit Sanayi Ve Ticaret AS stock attractive at the current price?
The data as of Sep 13, 2026: price 8.82 TRY, calculated fair value 15.77 TRY (+79%), Quality Score 46/100, from 24 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 TEZOL calculated?
We run Europap Tezol Kagit Sanayi Ve Ticaret AS through 24 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 15.77 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. Europap Tezol Kagit Sanayi Ve Ticaret AS currently trades 79 % 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 Europap Tezol Kagit Sanayi Ve Ticaret AS (TEZOL)?
The closing price on Sep 14, 2026 was 8.82 TRY. Our model-based fair value is 15.77 TRY, about +79% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Europap Tezol Kagit Sanayi Ve Ticaret AS right now?
The price is below even our cautious bear case (11.04 TRY). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (46/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (11.04 TRY to 20.51 TRY) leaves room in how you read the outcome.
Key figures of Europap Tezol Kagit Sanayi Ve Ticaret AS
How large is the market capitalisation of Europap Tezol Kagit Sanayi Ve Ticaret AS (TEZOL)?
The market capitalisation of Europap Tezol Kagit Sanayi Ve Ticaret AS is 5.2B TRY (≈ $106M). 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 Europap Tezol Kagit Sanayi Ve Ticaret AS (TEZOL)?
The price-to-sales ratio of Europap Tezol Kagit Sanayi Ve Ticaret AS is 0.96 (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 Europap Tezol Kagit Sanayi Ve Ticaret AS (TEZOL)?
Earnings per share at Europap Tezol Kagit Sanayi Ve Ticaret AS are 0.3000 TRY (price ÷ EPS = P/E 29.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Europap Tezol Kagit Sanayi Ve Ticaret AS (TEZOL)?
The net margin of Europap Tezol Kagit Sanayi Ve Ticaret AS is 3.3% (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 Europap Tezol Kagit Sanayi Ve Ticaret AS (TEZOL)?
The return on equity (ROE) of Europap Tezol Kagit Sanayi Ve Ticaret AS is 2.6% (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 Europap Tezol Kagit Sanayi Ve Ticaret AS (TEZOL)?
On an EBIT basis the return on assets of Europap Tezol Kagit Sanayi Ve Ticaret AS is 10.9% (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 Europap Tezol Kagit Sanayi Ve Ticaret AS (TEZOL)?
The operating margin of Europap Tezol Kagit Sanayi Ve Ticaret AS is 1.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Europap Tezol Kagit Sanayi Ve Ticaret AS (TEZOL)?
Revenue at Europap Tezol Kagit Sanayi Ve Ticaret AS is growing −8.0% versus a year earlier (3y avg +32.6%). 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 Europap Tezol Kagit Sanayi Ve Ticaret AS (TEZOL)?
Earnings per share at Europap Tezol Kagit Sanayi Ve Ticaret AS are growing −62.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Europap Tezol Kagit Sanayi Ve Ticaret AS (TEZOL) carry?
The net debt of Europap Tezol Kagit Sanayi Ve Ticaret AS is 110M TRY (fiscal year 2024, ≈ 0.1 yrs of FCF). 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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