TR Anadolu Metal Madencilik Isletmeleri A.S. (TRMET) fair value: what the stock is really worth
As of Oct 30, 2026: fair value (intrinsic value) of TR Anadolu Metal Madencilik Isletmeleri A.S. stock TRY 31.80, price TRY 94.05, upside -66.2%, quality 58 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 13.28 TRY – 168.80 TRY · fair‑value band 29.57 TRY – 42.33 TRY · the 94.05 TRY price screens above the 31.80 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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TR Anadolu Metal Madencilik Isletmeleri A.S., together with its subsidiaries, engages in the mining activities in Turkey. It explores, develops, and produces copper, lead-zinc, iron, and other mineral deposits.
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The company provides air transportation, tourism and hotel management, and food and livestock services. The company was founded in 1985 and is headquartered in Ankara, Turkey.
The company was formerly known as Koza Anadolu Metal Madencilik Isletmeleri A.S. and change its name to TR Anadolu Metal Madencilik Isletmeleri A.S. in November 2025. TR Anadolu Metal Madencilik Isletmeleri A.S. is a subsidiary of Ipek Dogal Enerji Kaynaklari Arastirma ve Uretim A.S.
Stock analysis
TR Anadolu Metal Madencilik Isletmeleri A.S. (TRMET) currently trades at 94.05 TRY, while our model-based Fair Value estimate is 31.80 TRY, 66.2% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 66.60 TRY per share, and 1 of the 22 models we run sit above the 94.05 TRY price.
Bear case: the Growth DCF group reads lowest at 19.09 TRY, and 21 of the 22 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 29.57 TRY (bear) to 42.33 TRY (bull), the price of 94.05 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 58/100 (solid quality), in the Basic Materials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
TR Anadolu Metal Madencilik Isletmeleri A.S. reported revenue of 17.7B TRY in FY2025 versus 4.1B TRY in FY2021, a compound +43.7%/yr. Reported net income was 2.0B TRY in FY2025, compounding +11.6%/yr from FY2021.
Key figures
Market cap 36.5B TRY (≈ $730M) Small · P/E ratio 17.1 · P/S ratio 1.66 · EPS (TTM) 5.50 TRY · Net margin 8.7% · Return on equity 8.6% · Return on assets (EBIT) 7.2% · Operating margin 20.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 44% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 10% fair-value upside, at −66%, TRMET screens richer than that median.
Fair Value models
Bear29.57 TRYFair Value 31.80 TRYBull42.33 TRY
Price 94.05 TRY · Upside -66.2%
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 (4.58 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
+46.4%
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.
+15.2%
’21
’22
’23
’24
’25
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.
+9.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.2%
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.43% → 20%
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).
+26.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Turkey: IMF forecast 19.3% a year to 2030, 28.5% from 2016 to 2025) that is about +6.0% a year for the price.
Compare TR Anadolu Metal Madencilik Isletmeleri A.S. 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.Other Industrial Metals & Mining · 366 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score58 · Top 25%
Fair Value upside−66.2% · Below median
Profitability
Return on equity (12 months)8.6% · Above median
Return on assets3.8% · Above median
Net margin (12 months)8.7% · Above median
Operating margin (12 months)20.1% · Above median
Growth and dividend
Revenue growth (quarter YoY)19.7% · Above median
Valuation Multiplesvs Other Industrial Metals & Mining median · lower = cheaper
P/E (12 months)17.1× · Pricier than median
P/B1.49× · Cheaper than median
P/S (12 months)1.66× · Cheaper than median
Price / free cash flow32.4× · Pricier than median
EV/EBITDA3.5× · Cheapest 25%
PEG1.45× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)99· sector 91
PAST (return on equity)34· sector 0
HEALTH (low debt)0· sector 95
DIVIDEND (yield)0· sector 34
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). "TR Anadolu Metal Madencilik Isletmeleri A.S. Fair Value". https://www.fairvalue-calculator.com/stock/TRMET
Frequently asked questions
Is TR Anadolu Metal Madencilik Isletmeleri A.S. (TRMET) overvalued or undervalued?
As of Oct 29, 2026, our model estimates a fair value of 31.80 TRY versus a price of 94.05 TRY, about −66% upside (overvalued).
What is the fair value of TRMET?
Our model-based fair value for TR Anadolu Metal Madencilik Isletmeleri A.S. is 31.80 TRY (as of Oct 29, 2026), built from audited fundamentals. The current price: 94.05 TRY.
What is the quality score of TRMET?
TR Anadolu Metal Madencilik Isletmeleri A.S. has a Quality Score of 58/100. 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 TR Anadolu Metal Madencilik Isletmeleri A.S. (TRMET)?
Our model-based price target is the fair value of 31.80 TRY (as of Oct 29, 2026) from 22 valuation models. Cautious scenario 29.57 TRY, optimistic scenario 42.33 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the TR Anadolu Metal Madencilik Isletmeleri A.S. stock forecast for 2026?
Our models put fair value at 31.80 TRY, about −66% upside versus a price of 94.05 TRY (overvalued). Cautious scenario 29.57 TRY, optimistic scenario 42.33 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of TR Anadolu Metal Madencilik Isletmeleri A.S. (TRMET)?
TR Anadolu Metal Madencilik Isletmeleri A.S. reported trailing-twelve-month revenue of about 22.0B TRY (latest available figure, as of Oct 29, 2026).
What growth is priced into TR Anadolu Metal Madencilik Isletmeleri A.S. (TRMET)?
For today's price to be fair in a discounted-cash-flow model, TR Anadolu Metal Madencilik Isletmeleri A.S. would have to grow free cash flow by +26.5 % per year for five years (discount rate 14.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +43.7 % per year. As of Oct 29, 2026.
What discount rate (WACC) does the fair value of TRMET use?
Our models discount TR Anadolu Metal Madencilik Isletmeleri A.S. at 14.5 %: a base by market capitalisation (small), damped by beta 0.71, 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 TR Anadolu Metal Madencilik Isletmeleri A.S. that is +26.5 % per year a year over ten years, using the same discount rate (14.5 %) and the same formula as our fair value.
How much growth has TR Anadolu Metal Madencilik Isletmeleri A.S. (TRMET) delivered so far?
Over the past 4 years revenue at TR Anadolu Metal Madencilik Isletmeleri A.S. grew +43.7 % a year. The price currently implies +26.5 % 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 TR Anadolu Metal Madencilik Isletmeleri A.S. (TRMET) growing?
The median revenue growth in the sector is +11.2 % a year. That is the yardstick for the growth priced into TR Anadolu Metal Madencilik Isletmeleri A.S. (+26.5 % 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 TR Anadolu Metal Madencilik Isletmeleri A.S. (TRMET)?
The free-cash-flow yield on the price is 3.08 %: that much free cash flow TR Anadolu Metal Madencilik Isletmeleri A.S. produces per unit of market value. When it exceeds the discount rate of our models (14.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of TR Anadolu Metal Madencilik Isletmeleri A.S. (TRMET)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For TR Anadolu Metal Madencilik Isletmeleri A.S. it is 31.80 TRY per share (as of Oct 29, 2026), against a price of 94.05 TRY. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is TR Anadolu Metal Madencilik Isletmeleri A.S. stock overvalued or undervalued in 2026?
As of Oct 29, 2026, TRMET trades above its calculated fair value: price 94.05 TRY, fair value 31.80 TRY, a gap of about −66% (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 TRMET?
No. The price is what the market pays today (94.05 TRY); the fair value is what the company's own numbers justify (31.80 TRY). For TR Anadolu Metal Madencilik Isletmeleri A.S. the two are 62.25 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is TR Anadolu Metal Madencilik Isletmeleri A.S. worth?
The market values TR Anadolu Metal Madencilik Isletmeleri A.S. at about 36.5B TRY (market capitalisation, as of Oct 29, 2026). Per share that is 94.05 TRY; our models calculate a fair value of 31.80 TRY per share.
What do the bullish and bearish scenarios say about TRMET?
Our models span a range for TR Anadolu Metal Madencilik Isletmeleri A.S.: cautious scenario 29.57 TRY, base 31.80 TRY, optimistic 42.33 TRY per share (as of Oct 29, 2026, price 94.05 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TRMET?
TR Anadolu Metal Madencilik Isletmeleri A.S. trades at a price-to-earnings ratio of 17.1 (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 31.80 TRY is built from several models across several years. Other multiples: PEG 1.4, P/B 1.5, P/S 1.7, EV/EBITDA 3.5.
What is the PEG ratio of TRMET?
The PEG ratio of TR Anadolu Metal Madencilik Isletmeleri A.S. is 1.45 (P/E divided by earnings growth, as of Oct 29, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of TR Anadolu Metal Madencilik Isletmeleri A.S. (TRMET)?
Balance-sheet figures for TR Anadolu Metal Madencilik Isletmeleri A.S. (as of Oct 29, 2026): return on equity 8.6%. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is TRMET from its 52-week high?
TR Anadolu Metal Madencilik Isletmeleri A.S. trades at 94.05 TRY, about 44% below its 52-week high of 168.80 TRY and 8% above the low of 86.85 TRY (as of Oct 30, 2026). Distance from the high says nothing about value: that is what the fair value of 31.80 TRY is for.
Which stocks are comparable to TR Anadolu Metal Madencilik Isletmeleri A.S.?
From the same area (Basic Materials) we also value Saudi Arabian Mining Company, CMOC Group, Hindustan Zinc Limited, Boliden AB, 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 TR Anadolu Metal Madencilik Isletmeleri A.S. stock attractive at the current price?
The data as of Oct 29, 2026: price 94.05 TRY, calculated fair value 31.80 TRY (−66%), Quality Score 58/100, from 22 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 TRMET calculated?
We run TR Anadolu Metal Madencilik Isletmeleri A.S. through 22 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 31.80 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 13.4 % above its aggregate fair value. TR Anadolu Metal Madencilik Isletmeleri A.S. 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 TR Anadolu Metal Madencilik Isletmeleri A.S. (TRMET)?
The closing price on Oct 30, 2026 was 94.05 TRY. Our model-based fair value is 31.80 TRY, about −66% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with TR Anadolu Metal Madencilik Isletmeleri A.S. right now?
The price sits above even our optimistic bull case (42.33 TRY). The favourable scenario is already priced in. Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of TR Anadolu Metal Madencilik Isletmeleri A.S.
How large is the market capitalisation of TR Anadolu Metal Madencilik Isletmeleri A.S. (TRMET)?
The market capitalisation of TR Anadolu Metal Madencilik Isletmeleri A.S. is 36.5B TRY (≈ $730M). 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 TR Anadolu Metal Madencilik Isletmeleri A.S. (TRMET)?
The price-to-sales ratio of TR Anadolu Metal Madencilik Isletmeleri A.S. is 1.66 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of TR Anadolu Metal Madencilik Isletmeleri A.S. (TRMET)?
Earnings per share at TR Anadolu Metal Madencilik Isletmeleri A.S. are 5.50 TRY (price ÷ EPS = P/E 17.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of TR Anadolu Metal Madencilik Isletmeleri A.S. (TRMET)?
The net margin of TR Anadolu Metal Madencilik Isletmeleri A.S. is 8.7% (last twelve months). 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 TR Anadolu Metal Madencilik Isletmeleri A.S. (TRMET)?
The return on equity (ROE) of TR Anadolu Metal Madencilik Isletmeleri A.S. is 8.6% (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 TR Anadolu Metal Madencilik Isletmeleri A.S. (TRMET)?
On an EBIT basis the return on assets of TR Anadolu Metal Madencilik Isletmeleri A.S. is 7.2% (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 TR Anadolu Metal Madencilik Isletmeleri A.S. (TRMET)?
The operating margin of TR Anadolu Metal Madencilik Isletmeleri A.S. is 20.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at TR Anadolu Metal Madencilik Isletmeleri A.S. (TRMET)?
Revenue at TR Anadolu Metal Madencilik Isletmeleri A.S. is growing +19.7% versus a year earlier (3y avg +15.2%). 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 TR Anadolu Metal Madencilik Isletmeleri A.S. (TRMET)?
Earnings per share at TR Anadolu Metal Madencilik Isletmeleri A.S. are growing −35.3% versus a year earlier. How much earnings per share grew versus a year earlier.
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Oct 29, 2026