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TR Anadolu Metal Madencilik Isletmeleri A.S., (TRMET) Fair Value & Analysis

Basic Materials · TR · Market cap 48.3B TRY

TA TR Anadolu Metal Madencilik Isletmeleri A.S., TRMET · IS
Price124.50 TRY
Fair Value100.58 TRY
Upside-19.2%
Quality61/100
Expensive Growth
Solidly profitable · 10.5% net margin
generates free cash flow
Ranks above peers (10/13)
Wide moat 66/100
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Evidence: Medium Range 75.43 TRY – 125.72 TRY Share as image

Fair value as of: Aug 2, 2026

From 25 valuation models · updated today

Share price +9.4% over the past month.

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

What matters now

  • Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
  • Our model range runs from 75.43 TRY (bear) to 125.72 TRY (bull), base 100.58 TRY. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 61/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

168.80 TRY 13.00 TRY Fair Value 100.58 TRY Apr 2021 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

60‑month range 13.00 TRY – 168.80 TRY · fair‑value band 75.43 TRY – 125.72 TRY · the 124.50 TRY price screens above the 100.58 TRY fair value. Dashed = 300-day average. As of Aug 2, 2026.

Which stocks are undervalued right now? Check free Discover now →

Analysis

TR Anadolu Metal Madencilik Isletmeleri A.S., (TRMET) currently trades at 124.50 TRY, while our model-based Fair Value estimate is 100.58 TRY, implying the stock looks roughly 19.2% overvalued today. We read business quality at 61/100 (solid quality), in the Basic Materials 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: medium).

Over the trailing twelve months, TR Anadolu Metal Madencilik Isletmeleri A.S., generated revenue of 20.9B TRY at a net margin of 10.5%. Revenue grew 55.9% year over year. It earns a return on equity of 10.8%. The stock trades on a trailing P/E of 22.0. Fundamentals as of Aug 2, 2026

Our scenario range runs from 75.43 TRY (bear case) to 125.72 TRY (bull case); at 124.50 TRY, the current price sits within that range. The share trades about 29% below its 52-week high and 78% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -34% fair-value upside, at -19%, TRMET screens cheaper 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
Residual Income 52.97 TRY 56.88 TRY 63.70 TRY 76
Growth DCF 62.15 TRY 101.65 TRY 181.48 TRY 72
Gordon GGM 29.74 TRY 61.84 TRY 98.10 TRY 70
All 25 models by family
DCF Models
FCF DCF 65.05 TRY 93.05 TRY 182.22 TRY 38
5Y Revenue Exit 93.89 TRY 162.62 TRY 306.77 TRY 39
5Y EBITDA Exit 117.17 TRY 209.91 TRY 391.51 TRY 41
5Y P/E Exit 86.29 TRY 179.46 TRY 307.23 TRY 38
10Y Revenue Exit 83.24 TRY 188.63 TRY 266.96 TRY 36
10Y EBITDA Exit 103.79 TRY 238.37 TRY 488.48 TRY 37
10Y P/E Exit 81.30 TRY 172.39 TRY 329.26 TRY 35
Earnings-Based
Graham-Dodd 34.20 TRY 238.48 TRY 334.68 TRY 54
Lynch FV 86.92 TRY 124.16 TRY 161.41 TRY 50
PEG = 1.0 86.92 TRY 124.16 TRY 161.41 TRY 46
EPV 83.39 TRY 94.59 TRY 104.38 TRY 59
Dividend Discount
Gordon GGM 29.74 TRY 61.84 TRY 98.10 TRY 70
DDM Multi-Stage 29.74 TRY 52.14 TRY 64.90 TRY 61
Multiples
P/E Multiple 75.43 TRY 100.58 TRY 125.72 TRY 63
P/S Multiple 64.12 TRY 85.49 TRY 106.86 TRY 58
P/B Multiple 64.12 TRY 85.49 TRY 106.86 TRY 55
EV/EBIT 136.74 TRY 176.91 TRY 217.08 TRY 53
EV/EBITDA 132.74 TRY 171.58 TRY 210.42 TRY 54
EV/Revenue 96.07 TRY 130.29 TRY 164.51 TRY 43
Asset-Based
NCAV (Graham) 31.61 TRY 42.35 TRY 63.21 TRY 50
Growth DCF
Growth DCF 62.15 TRY 101.65 TRY 181.48 TRY 72
Rev-Margin DCF 93.89 TRY 183.48 TRY 346.92 TRY 67
Economic Profit
Residual Income 52.97 TRY 56.88 TRY 63.70 TRY 76
ROIC Compounder 100.82 TRY 140.80 TRY 170.25 TRY 67
Growth Earnings
Growth-Adj P/E 109.86 TRY 156.95 TRY 204.03 TRY 68

Widest divergence: DCF Models (179.46 TRY) versus Asset-Based (42.35 TRY). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 20.9B TRY
Revenue growth (YoY) +55.9%
Net margin 10.5%
Return on equity 10.8%
Free cash flow 1.1B TRY FY2025
P/E ratio 22.0
More key figures
Operating margin 42.0%
EPS (TTM) 5.65 TRY
EPS growth (YoY) +72.1%

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

Quality Score breakdown

Overall quality 61/100

Of which business quality 59 · Market factors (momentum, volatility) 60

Profitability 34
Margins and returns on capital today
Quality Growth 88
Are margins and returns improving?
Cashflow 60
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 52
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 76
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

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. The company provides air transportation, tourism and hotel management, and food and livestock services.

Full company description

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. 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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
17.7B TRY
Latest YoY
+46.4%
Avg. growth/yr (3Y)
+15.2%
Revenue +43.7%/yr
FY21 4.1B TRY
FY22 11.6B TRY
FY23 12.4B TRY
FY24 12.1B TRY
FY25 17.7B TRY
Net income +11.6%/yr
FY21 1.3B TRY
FY22 −1.8B TRY
FY23 525M TRY
FY24 −2.5B TRY
FY25 2.0B TRY

TRMET sits 19% above fair value. Compare with BHP Group →

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Cite: Fair Value Calculator (2026). "TR Anadolu Metal Madencilik Isletmeleri A.S., Fair Value". https://www.fairvalue-calculator.com/stock/TRMET

Peer Group

Other Industrial Metals & Mining · 541 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 61 · Top 25%
Fair Value upside −19% · Above median
Return on equity (TTM) 11% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 10% · Top 25%
Operating margin (TTM) 42% · Top 25%
Revenue growth 56% · Above median

Valuation Multiples vs Other Industrial Metals & Mining median · lower = cheaper

P/E (TTM) 22.0× · Pricier than median
P/B 1.97× · Pricier than median
P/S (TTM) 2.31× · Cheaper than median
P/FCF 0.9× · Cheaper than 75% of peers
EV/EBITDA 5.2× · Cheaper than median
PEG 1.45× · Pricier 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 8 / 0
FUTURE 100 / 2
PAST 43 / 0
HEALTH 0 / 96
DIVIDEND 0 / 21

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 Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
BHP Group BHPN 1,425 MXN 942.42 MXN -34%
Rio Tinto Group RIO A$164.89 A$81.76 -50%
Grupo México, S.A. GMEXICOB 199.23 MXN 187.72 MXN -6%
Vale S.A VALE $14.19 $9.14 -36%
CMOC Group 603993 ¥18.20 ¥16.15 -11%
Fortescue Ltd FMG A$18.47 A$18.62 +1%
China Tungsten And Hightech Materials Co 000657 ¥74.71 ¥9.55 -87%
Hindustan Zinc Limited HINDZINC ₹521.95 ₹576.80 +11%
China Northern Rare Earth (Group) High-Tech Co 600111 ¥39.56 ¥10.59 -73%
Korea Zinc Company 010130 1,043,000 KRW 646,063 KRW -38%

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Frequently asked questions

Is TR Anadolu Metal Madencilik Isletmeleri A.S., (TRMET) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of 100.58 TRY versus a price of 124.50 TRY, about −19% (overvalued).
What is the fair value of TRMET?
Our model-based fair value for TR Anadolu Metal Madencilik Isletmeleri A.S., is 100.58 TRY (as of Aug 2, 2026), built from audited fundamentals. The current price is 124.50 TRY.
What is the quality score of TRMET?
TR Anadolu Metal Madencilik Isletmeleri A.S., has a Quality Score of 61/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
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 20.9B TRY (latest available figure, as of Aug 2, 2026).
What is the net profit margin of TRMET?
The net profit margin of TR Anadolu Metal Madencilik Isletmeleri A.S., is about 10.5%, meaning it keeps roughly 10.5% 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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