TGS Dis Ticaret AS (TGSAS) fair value: what the stock is really worth
As of Oct 30, 2026: fair value (intrinsic value) of TGS Dis Ticaret AS stock TRY 52.09, price TRY 105, upside -50.4%, quality 48 out of 100. Rating: strongly overvalued. 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 29, 2026.
How to read this chart
60‑month range 11.52 TRY – 268.50 TRY · fair‑value band 40.98 TRY – 56.01 TRY · the 105.00 TRY price screens above the 52.09 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 29, 2026.
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TGS Dis Ticaret Anonim Sirketi provides intermediary services to exporting companies in Turkey.
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Its primary activity is to mediate the export activities of the manufacturers and to collect the value-added tax refunds on behalf of its customers due to their export transactions in the textile, mining, and other sectors.
The company was incorporated in 1999 and is headquartered in Istanbul, Turkey.
Stock analysis
TGS Dis Ticaret AS (TGSAS) currently trades at 105.00 TRY, while our model-based Fair Value estimate is 52.09 TRY, 50.4% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 112.15 TRY per share, and 4 of the 16 models we run sit above the 105.00 TRY price.
Bear case: the Asset-Based group reads lowest at 18.73 TRY, and 12 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: 40.98 TRY (bear) to 56.01 TRY (bull), the price of 105.00 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 48/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
TGS Dis Ticaret AS reported revenue of 236M TRY in FY2025 versus 26.9M TRY in FY2021, a compound +72.2%/yr. Reported net income was 90.4M TRY in FY2025, compounding +60.8%/yr from FY2021.
Key figures
Market cap 1.6B TRY (≈ $31.5M) Micro · P/E ratio 30.1 · P/S ratio 11.5 · EPS (TTM) 3.49 TRY · Dividend yield 0.3% · Net margin 38.2% · Return on equity 39.8% · Return on assets (EBIT) 0.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 70 out of 100 (medium confidence).
What moves the price
The share trades about 61% below its 52-week high and 21% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −32% fair-value upside, at −50%, TGSAS screens richer than that median.
Fair Value models
Bear40.98 TRYFair Value 52.09 TRYBull56.01 TRY
Price 105.00 TRY · Upside -50.4%
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 (2.65 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.
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
+13.8%
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.
+53.1%
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.
+67.9%
Start year 2020 (pandemic). Over 10 years: +33.8% a year
Revenue growth 17 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.
+36.5%
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What shareholders gained per year (last 5 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 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. 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.
+94.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+93.9%
Dividend (yield on the price)0.3%
Profit margin 2019 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.56% → 45%
2025 sits 165% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
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.Industrial Distribution · 109 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score48 · Bottom 25%
Fair Value upside−50.4% · Bottom 25%
Profitability
Return on equity (12 months)39.8% · Top 25%
Return on assets0.6% · Bottom 25%
Net margin (12 months)49.2% · Top 25%
Operating margin (12 months)63.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)46.7% · Top 25%
Dividend yield (12 months)0.3% · Bottom 25%
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Industrial Distribution median · lower = cheaper
P/E (12 months)30.1× · Pricier than median
P/B4.86× · Priciest 25%
P/S (12 months)5.86× · Priciest 25%
EV/EBITDA10.5× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 43
FUTURE (revenue growth)100· sector 38
PAST (return on equity)100· sector 38
HEALTH (low debt)100· sector 92
DIVIDEND (yield)6· sector 38
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.
Cite: Fair Value Calculator (2026). "TGS Dis Ticaret AS Fair Value". https://www.fairvalue-calculator.com/stock/TGSAS
Frequently asked questions
Is TGS Dis Ticaret AS (TGSAS) overvalued or undervalued?
As of Oct 29, 2026, our model estimates a fair value of 52.09 TRY versus a price of 105.00 TRY, about −50% upside (overvalued).
What is the fair value of TGSAS?
Our model-based fair value for TGS Dis Ticaret AS is 52.09 TRY (as of Oct 29, 2026), built from audited fundamentals. The current price: 105.00 TRY.
What is the quality score of TGSAS?
TGS Dis Ticaret AS has a Quality Score of 48/100. 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 TGS Dis Ticaret AS (TGSAS)?
Our model-based price target is the fair value of 52.09 TRY (as of Oct 29, 2026) from 16 valuation models. Cautious scenario 40.98 TRY, optimistic scenario 56.01 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the TGS Dis Ticaret AS stock forecast for 2026?
Our models put fair value at 52.09 TRY, about −50% upside versus a price of 105.00 TRY (overvalued). Cautious scenario 40.98 TRY, optimistic scenario 56.01 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of TGS Dis Ticaret AS (TGSAS)?
TGS Dis Ticaret AS reported trailing-twelve-month revenue of about 269M TRY (latest available figure, as of Oct 29, 2026).
Does TGS Dis Ticaret AS pay a dividend?
TGS Dis Ticaret AS currently shows a dividend yield of 0.29% relative to its recent price (as of Oct 29, 2026).
What is the intrinsic value of TGS Dis Ticaret AS (TGSAS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For TGS Dis Ticaret AS it is 52.09 TRY per share (as of Oct 29, 2026), against a price of 105.00 TRY. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is TGS Dis Ticaret AS stock overvalued or undervalued in 2026?
As of Oct 29, 2026, TGSAS trades above its calculated fair value: price 105.00 TRY, fair value 52.09 TRY, a gap of about −50% (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 TGSAS?
No. The price is what the market pays today (105.00 TRY); the fair value is what the company's own numbers justify (52.09 TRY). For TGS Dis Ticaret AS the two are 52.91 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is TGS Dis Ticaret AS worth?
The market values TGS Dis Ticaret AS at about 1.6B TRY (market capitalisation, as of Oct 29, 2026). Per share that is 105.00 TRY; our models calculate a fair value of 52.09 TRY per share.
What do the bullish and bearish scenarios say about TGSAS?
Our models span a range for TGS Dis Ticaret AS: cautious scenario 40.98 TRY, base 52.09 TRY, optimistic 56.01 TRY per share (as of Oct 29, 2026, price 105.00 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TGSAS?
TGS Dis Ticaret AS trades at a price-to-earnings ratio of 30.1 (as of Oct 29, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 52.09 TRY is built from several models across several years. Other multiples: P/B 4.9, P/S 5.9, EV/EBITDA 10.5.
How solid is the balance sheet of TGS Dis Ticaret AS (TGSAS)?
Balance-sheet figures for TGS Dis Ticaret AS (as of Oct 29, 2026): return on equity 39.8%, debt of 0.00 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is TGSAS from its 52-week high?
TGS Dis Ticaret AS trades at 105.00 TRY, about 61% below its 52-week high of 268.50 TRY and 21% above the low of 86.70 TRY (as of Oct 30, 2026). Distance from the high says nothing about value: that is what the fair value of 52.09 TRY is for.
Which stocks are comparable to TGS Dis Ticaret AS?
From the same area (Industrials) we also value W.W. Grainger, Inc, Fastenal Company, Ferguson Enterprises Inc, WESCO International, Inc, 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 TGS Dis Ticaret AS stock attractive at the current price?
The data as of Oct 29, 2026: price 105.00 TRY, calculated fair value 52.09 TRY (−50%), Quality Score 48/100, from 16 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 TGSAS calculated?
We run TGS Dis Ticaret AS through 16 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 52.09 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 13.3 % above its aggregate fair value. TGS Dis Ticaret AS 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 TGS Dis Ticaret AS (TGSAS)?
The closing price on Oct 30, 2026 was 105.00 TRY. Our model-based fair value is 52.09 TRY, about −50% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with TGS Dis Ticaret AS right now?
The price sits above even our optimistic bull case (56.01 TRY). The favourable scenario is already priced in. Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of TGS Dis Ticaret AS
How large is the market capitalisation of TGS Dis Ticaret AS (TGSAS)?
The market capitalisation of TGS Dis Ticaret AS is 1.6B TRY (≈ $31.5M). 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 TGS Dis Ticaret AS (TGSAS)?
The price-to-sales ratio of TGS Dis Ticaret AS is 11.5 (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 TGS Dis Ticaret AS (TGSAS)?
Earnings per share at TGS Dis Ticaret AS are 3.49 TRY (price ÷ EPS = P/E 30.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of TGS Dis Ticaret AS (TGSAS)?
The dividend yield of TGS Dis Ticaret AS is 0.3% (payout 8.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of TGS Dis Ticaret AS (TGSAS)?
The net margin of TGS Dis Ticaret AS is 38.2% (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 TGS Dis Ticaret AS (TGSAS)?
The return on equity (ROE) of TGS Dis Ticaret AS is 39.8% (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 TGS Dis Ticaret AS (TGSAS)?
On an EBIT basis the return on assets of TGS Dis Ticaret AS is 0.6% (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 TGS Dis Ticaret AS (TGSAS)?
The operating margin of TGS Dis Ticaret AS is 63.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at TGS Dis Ticaret AS (TGSAS)?
Revenue at TGS Dis Ticaret AS is growing +46.7% versus a year earlier (3y avg +53.1%). 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 TGS Dis Ticaret AS (TGSAS)?
Earnings per share at TGS Dis Ticaret AS are growing −90.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does TGS Dis Ticaret AS (TGSAS) generate?
The free cash flow of TGS Dis Ticaret AS is −24.3M 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 TGS Dis Ticaret AS (TGSAS) carry?
The net debt of TGS Dis Ticaret AS is 2.8M TRY (fiscal year 2018). 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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Broad data
Oct 29, 2026