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TNZTP Fair Value & Analysis

Healthcare · TR · Market cap 11.3B TRY

T TNZTP TNZTP · IS
Price28.32 TRY
Fair Value22.82 TRY
Upside-19.4%
Quality54/100
Mixed Growth
Solidly profitable · 19.7% net margin
Low debt · generates free cash flow
Ranks above peers (10/13)
Wide moat 67/100
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Evidence: High Range 15.30 TRY – 30.44 TRY Share as image

Fair value as of: Aug 2, 2026

From 26 valuation models · updated today

Share price +14.2% over the past month.

A solid business, but the price sits 19% above our fair value.

What matters now

  • Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (15.30 TRY to 30.44 TRY) leaves room in how you read the outcome.
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Price vs Fair Value (4 years)

32.99 TRY 3.55 TRY Fair Value 22.82 TRY Jan 2023 Jul 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

43‑month range 3.55 TRY – 32.99 TRY · fair‑value band 15.30 TRY – 30.44 TRY · the 28.32 TRY price screens above the 22.82 TRY fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

TNZTP (TNZTP) currently trades at 28.32 TRY, while our model-based Fair Value estimate is 22.82 TRY, implying the stock looks roughly 19.4% overvalued today. We read business quality at 54/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, TNZTP generated revenue of 3.5B TRY at a net margin of 19.7%. Revenue grew 3.0% year over year. It earns a return on equity of 9.1%. The stock trades on a trailing P/E of 16.7. Fundamentals as of Aug 2, 2026

Our scenario range runs from 15.30 TRY (bear case) to 30.44 TRY (bull case); at 28.32 TRY, the current price sits within that range. The share trades about 15% below its 52-week high and 41% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at 11% fair-value upside, at -19%, TNZTP screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 13.48 TRY 25.16 TRY 44.29 TRY 80
Residual Income 16.92 TRY 18.37 TRY 25.07 TRY 76
Rev-Margin DCF 18.94 TRY 34.34 TRY 66.41 TRY 74
All 26 models by family
DCF Models
FCF DCF 14.23 TRY 21.46 TRY 44.48 TRY 38
Owner Earnings 25.76 TRY 56.54 TRY 121.17 TRY 31
5Y Revenue Exit 17.22 TRY 30.25 TRY 57.65 TRY 39
5Y EBITDA Exit 26.67 TRY 49.35 TRY 93.95 TRY 41
5Y P/E Exit 24.78 TRY 56.98 TRY 101.48 TRY 38
10Y Revenue Exit 15.97 TRY 36.88 TRY 51.36 TRY 36
10Y EBITDA Exit 23.54 TRY 57.22 TRY 118.12 TRY 37
10Y P/E Exit 22.17 TRY 53.16 TRY 105.56 TRY 35
Earnings-Based
Graham-Dodd 11.83 TRY 82.48 TRY 115.74 TRY 54
Lynch FV 42.61 TRY 60.87 TRY 79.13 TRY 50
PEG = 1.0 42.61 TRY 60.87 TRY 79.13 TRY 46
EPV 19.96 TRY 23.02 TRY 25.69 TRY 59
Dividend Discount
Gordon GGM 1.44 TRY 2.99 TRY 4.74 TRY 70
DDM Multi-Stage 1.44 TRY 2.52 TRY 3.14 TRY 61
Multiples
P/E Multiple 26.09 TRY 34.78 TRY 43.48 TRY 63
P/S Multiple 16.08 TRY 21.44 TRY 26.80 TRY 58
P/B Multiple 22.17 TRY 29.57 TRY 36.96 TRY 55
EV/EBIT 34.52 TRY 45.48 TRY 56.45 TRY 53
EV/EBITDA 30.21 TRY 39.74 TRY 49.27 TRY 54
EV/Revenue 16.63 TRY 23.07 TRY 29.50 TRY 43
Asset-Based
NCAV (Graham) 10.01 TRY 13.41 TRY 20.02 TRY 50
Growth DCF
Growth DCF 13.48 TRY 25.16 TRY 44.29 TRY 80
Rev-Margin DCF 18.94 TRY 34.34 TRY 66.41 TRY 74
Economic Profit
Residual Income 16.92 TRY 18.37 TRY 25.07 TRY 76
ROIC Compounder 19.96 TRY 27.87 TRY 35.89 TRY 72
Growth Earnings
Growth-Adj P/E 54.91 TRY 78.44 TRY 101.97 TRY 68

Widest divergence: Growth Earnings (78.44 TRY) versus Dividend Discount (2.52 TRY). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 3.5B TRY
Revenue growth (YoY) +3.0%
Net margin 19.7%
Return on equity 9.1%
Free cash flow 300M TRY FY2025
P/E ratio 16.7
More key figures
Operating margin 28.2%
EPS (TTM) 1.70 TRY
EPS growth (YoY) -17.6%

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 54/100

Of which business quality 53 · Market factors (momentum, volatility) 49

Profitability 44
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 40
Earnings quality: real cash, not paper profit
Fin. Strength 68
Balance sheet, leverage, solvency risk
Investment 22
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 45
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

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

Tapdi Oksijen Özel Saglik ve Egitim Hizmetleri Sanayi Ticaret A.S. provides various health services in Turkey. It operates hospitals under the Izmir Tinaztepe University Private Buca Hospital, Tinaztepe Torbali Hospital, Tinaztepe Buca Medical Center, and Izmir Tinaztepe University Private Galen Hospital names.

Full company description

Tapdi Oksijen Özel Saglik ve Egitim Hizmetleri Sanayi Ticaret A.S. provides various health services in Turkey. It operates hospitals under the Izmir Tinaztepe University Private Buca Hospital, Tinaztepe Torbali Hospital, Tinaztepe Buca Medical Center, and Izmir Tinaztepe University Private Galen Hospital names. The company also provides various services in areas, such as anesthesia and reanimation; biochemistry; brain and nerve surgery; cardiology, cardiology intensive care, cardiovascular surgery, cosmetic, plastic, and reconstructive surgery; dermatology; ear, nose, throat, endocrinology, eye diseases, and emergency; family medicine; gastroenterology, general intensive care, general surgery, genetic diagnosis center, and gynecology and obstetrics; and hematology. In addition, it provides Internal medicine and interventional radiology; medical oncology and microbiology; neonatal intensive care, neurology, nuclear medicine, and nutrition and dietetics; oral and dental health, and orthopedics and traumatology; pathology, pediatric neurology, pediatric surgery, pediatrics, perinatology, physical therapy and rehabilitation, psychiatry, psychology, and pulmonary diseases; radiation oncology and radiology; and urology services. The company was founded in 1999 and is headquartered in Izmir, Turkey.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

TNZTP reported revenue of 3.4B TRY in FY2025 versus 310M TRY in FY2021, a compound +82.4%/yr. Reported net income was 696M TRY in FY2025, compounding +80.3%/yr from FY2021.

Growth Quality 86/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
3.4B TRY
Latest YoY
+19.8%
Avg. growth/yr (3Y)
+47.2%
Avg. growth/yr (5Y)
+76.2%
Revenue +82.4%/yr
FY21 310M TRY
FY22 1.1B TRY
FY23 1.9B TRY
FY24 2.9B TRY
FY25 3.4B TRY
Net income +80.3%/yr
FY21 65.8M TRY
FY22 266M TRY
FY23 1.2B TRY
FY24 1.6B TRY
FY25 696M TRY

TNZTP sits 19% above fair value. Compare with HCA Healthcare, Inc →

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Cite: Fair Value Calculator (2026). "TNZTP Fair Value". https://www.fairvalue-calculator.com/stock/TNZTP

Peer Group

Medical Care Facilities · 270 stocks

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.

Quality Score 54 · Above median
Fair Value upside −19% · Below median
Return on equity (TTM) 9% · Above median
Return on assets 7% · Top 25%
Net margin (TTM) 20% · Top 25%
Operating margin (TTM) 28% · Top 25%
Revenue growth 3% · Below median
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/E (TTM) 16.7× · Cheaper than median
P/B 1.41× · Cheaper than median
P/S (TTM) 3.28× · Pricier than 75% of peers
P/FCF 0.8× · Cheaper than median
EV/EBITDA 8.3× · Cheaper than median

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.

VALUE 7 / 21
FUTURE 15 / 25
PAST 36 / 29
HEALTH 100 / 90
DIVIDEND 0 / 38

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Medical Care Facilities stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
HCA Healthcare, Inc HCA $378.85 $554.93 +46%
Fresenius SE FRE €41.73 €32.15 -23%
Dr. Sulaiman Al Habib Medical Services Group 4013 235.00 SAR 112.37 SAR -52%
IHH Healthcare Berhad, an investment holding company, Q0F 2.76 SGD 1.28 SGD -54%
Tenet Healthcare Corporation THC $194.91 $338.05 +73%
Rede D'Or São Luiz S.A RDOR3 R$36.01 R$47.31 +31%
DaVita Inc DVA $231.61 $255.97 +11%
Apollo Hospitals Enterprise Limited APOLLOHOSP ₹8,841 ₹2,908 -67%
Fresenius Medical Care AG FMS $24.68 $45.60 +85%
Aier Eye Hospital Group 300015 ¥8.68 ¥7.67 -12%

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Frequently asked questions

Is TNZTP overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of 22.82 TRY versus a price of 28.32 TRY, about −19% (overvalued).
What is the fair value of TNZTP?
Our model-based fair value for TNZTP is 22.82 TRY (as of Aug 2, 2026), built from audited fundamentals. The current price is 28.32 TRY.
What is the quality score of TNZTP?
TNZTP has a Quality Score of 54/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of TNZTP?
TNZTP reported trailing-twelve-month revenue of about 3.5B TRY (latest available figure, as of Aug 2, 2026).
What is the net profit margin of TNZTP?
The net profit margin of TNZTP is about 19.7%, meaning it keeps roughly 19.7% of revenue as net income. Based on the latest reported figures.

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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