TSGYO Fair Value & Analysis
Real Estate · TR · Market cap 3.6B TRY
Fair value as of: Aug 2, 2026
From 24 valuation models · updated today
Share price −15.0% over the past month.
Below-average quality, and the price sits another 71% above our fair value.
What matters now
- The price sits above even our optimistic bull case (2.39 TRY). The favourable scenario is already priced in.
- Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts.
- A fairly wide model range (0.9800 TRY to 2.39 TRY) leaves room in how you read the outcome.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
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 2.03 TRY – 19.83 TRY · fair‑value band 0.9800 TRY – 2.39 TRY · the 5.61 TRY price screens above the 1.64 TRY fair value. Dashed = 300-day average. As of Aug 2, 2026.
Analysis
TSGYO (TSGYO) currently trades at 5.61 TRY, while our model-based Fair Value estimate is 1.64 TRY, implying the stock looks roughly 70.8% overvalued today. We read business quality at 44/100 (below-average quality), in the Real Estate 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, TSGYO generated revenue of 249M TRY at a net margin of 4.0%. Revenue declined 4.8% year over year. It earns a return on equity of 0.2%. Net debt stands at 123M TRY. Fundamentals as of Aug 2, 2026
Our scenario range runs from 0.9800 TRY (bear case) to 2.39 TRY (bull case); at 5.61 TRY, the current price sits above that range. The share trades about 45% below its 52-week high and 2% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -20% fair-value upside, at -71%, TSGYO 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.
All 24 models by family
Widest divergence: Asset-Based (13.97 TRY) versus Multiples (1.05 TRY). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 56 · Market factors (momentum, volatility) 26
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
TSKB Gayrimenkul Yatirim Ortakligi A.S invests in real estate projects, capital market instruments backed by real estate, real estate development projects, and other capital market instruments. Its real estate development projects include shopping centers, hotels, office buildings, and others.
Full company description
TSKB Gayrimenkul Yatirim Ortakligi A.S invests in real estate projects, capital market instruments backed by real estate, real estate development projects, and other capital market instruments. Its real estate development projects include shopping centers, hotels, office buildings, and others. The company was founded in 2006 and is headquartered in Beyoglu, Turkey.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
TSGYO reported revenue of 219M TRY in FY2025 versus 30.1M TRY in FY2021, a compound +64.1%/yr. Reported net income was 15.6M TRY in FY2025, compounding −40.5%/yr from FY2021.
TSGYO sits 71% above fair value. Compare with MERLIN Properties SOCIMI, S.A →
Peer Group
REIT - Office · 80 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.
Valuation Multiples vs REIT - Office median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more REIT - Office stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| MERLIN Properties SOCIMI, S.A MRL | €15.23 | €6.46 | -58% |
| BXP, Inc BXP | $69.11 | $53.27 | -23% |
| Vornado Realty Trust VNORP | $51.75 | $41.59 | -20% |
| Alexandria Real Estate Equities, Inc ARE | $50.12 | $59.48 | +19% |
| Hudson Pacific Properties, Inc HPP | $15.38 | $4.60 | -70% |
| Mapletree Pan Asia Commercial Trust N2IU | 1.29 SGD | 1.14 SGD | -12% |
| Cousins Properties Incorporated CUZ | $32.15 | $17.62 | -45% |
| Kilroy Realty Corporation KRC | $39.42 | $40.37 | +2% |
| Keppel DC REIT AJBU | 2.25 SGD | 1.68 SGD | -25% |
| DEXUS DXS | A$5.64 | A$4.49 | -20% |
Compare TSGYO with another stock
Price, fair value, quality and upside side by side.
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Frequently asked questions
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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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