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Vakko Tekstil ve Hazir Giyim Sanayi Isletmeleri A.S. (VAKKO) Fair Value & Analysis

Consumer Cyclical · TR · Market cap 10.9B TRY

VT Vakko Tekstil ve Hazir Giyim Sanayi Isletmeleri A.S. VAKKO · IS
Price68.40 TRY
Fair Value16.89 TRY
Upside-75.3%
Quality55/100
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Healthy Growth
Loss-making · -0.3% net margin
Low debt · generates free cash flow
Mixed vs. peers (5/12)
Narrow moat 16/100
Evidence: High Range 11.58 TRY – 20.18 TRY Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated today

Share price −2.0% over the past month.

A solid business, but screening 75% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (20.18 TRY). The favourable scenario is already priced in.
  • Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

126.47 TRY 6.83 TRY Fair Value 16.89 TRY May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 6.83 TRY – 126.47 TRY · fair‑value band 11.58 TRY – 20.18 TRY · the 68.40 TRY price screens above the 16.89 TRY fair value. Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

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Analysis

Vakko Tekstil ve Hazir Giyim Sanayi Isletmeleri A.S. (VAKKO) currently trades at 68.40 TRY, while our model-based Fair Value estimate is 16.89 TRY, implying the stock looks roughly 75.3% overvalued today. The Quality Score stands at 55/100 (solid quality), in the Consumer Cyclical 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, Vakko Tekstil ve Hazir Giyim Sanayi Isletmeleri A.S. generated revenue of 20.0B TRY at a net margin of -0.3%. Revenue grew 3.5% year over year. It earns a return on equity of -0.6%. Net debt stands at 445M TRY. Fundamentals as of Aug 13, 2026

Our scenario range runs from 11.58 TRY (bear case) to 20.18 TRY (bull case); at 68.40 TRY, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 28% below its 52-week high and 34% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 7% fair-value upside, at -75%, VAKKO 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 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. Evidence
Highest evidence
Growth DCF 345.78 TRY 680.56 TRY 1,229 TRY 80
Residual Income 41.16 TRY 37.79 TRY 26.68 TRY 76
Rev-Margin DCF 134.42 TRY 186.77 TRY 300.14 TRY 74
All 24 models by family
DCF Models
FCF DCF 367.26 TRY 574.54 TRY 1,235 TRY 38
Owner Earnings 135.62 TRY 301.18 TRY 648.73 TRY 31
5Y Revenue Exit 124.97 TRY 163.25 TRY 239.30 TRY 39
5Y EBITDA Exit 202.87 TRY 320.77 TRY 550.70 TRY 41
5Y P/E Exit 109.21 TRY 152.50 TRY 197.04 TRY 38
10Y Revenue Exit 196.13 TRY 310.45 TRY 347.70 TRY 36
10Y EBITDA Exit 254.10 TRY 478.20 TRY 843.03 TRY 37
10Y P/E Exit 185.76 TRY 276.52 TRY 392.20 TRY 35
Earnings-Based
Graham-Dodd 2.42 TRY 16.89 TRY 23.70 TRY 54
Lynch FV 8.73 TRY 12.47 TRY 16.21 TRY 50
PEG = 1.0 8.73 TRY 12.47 TRY 16.21 TRY 46
EPV 18.90 TRY 21.08 TRY 22.98 TRY 59
Multiples
P/E Multiple 5.88 TRY 7.84 TRY 9.79 TRY 63
P/S Multiple 4.54 TRY 6.05 TRY 7.57 TRY 58
P/B Multiple 4.54 TRY 6.05 TRY 7.57 TRY 55
EV/EBIT 42.87 TRY 55.21 TRY 67.55 TRY 53
EV/EBITDA 135.73 TRY 179.02 TRY 222.32 TRY 54
EV/Revenue 30.80 TRY 41.50 TRY 52.19 TRY 43
Asset-Based
NCAV (Graham) 30.52 TRY 40.90 TRY 61.04 TRY 50
Growth DCF
Growth DCF 345.78 TRY 680.56 TRY 1,229 TRY 80
Rev-Margin DCF 134.42 TRY 186.77 TRY 300.14 TRY 74
Economic Profit
Residual Income 41.16 TRY 37.79 TRY 26.68 TRY 76
ROIC Compounder 18.90 TRY 21.08 TRY 22.98 TRY 72
Growth Earnings
Growth-Adj P/E 11.58 TRY 16.55 TRY 21.51 TRY 68

Widest divergence: DCF Models (301.18 TRY) versus Multiples (7.84 TRY). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 20.0B TRY
Revenue growth (YoY) +3.5%
Net margin -0.3%
Return on equity -0.6%
Free cash flow 3.4B TRY FY2025
P/E ratio 190.0
More key figures
Operating margin 0.7%
EPS (TTM) 0.3600 TRY
EPS growth (YoY) -78.2%
Net debt 445M TRY FY2023

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 61 · Market factors (momentum, volatility) 53

Profitability 49
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 83
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 48
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

Vakko Tekstil ve Hazir Giyim Sanayi Isletmeleri A.S. manufactures and sells ready-made clothing and screen printing for men and women in Turkey.

Full company description

Vakko Tekstil ve Hazir Giyim Sanayi Isletmeleri A.S. manufactures and sells ready-made clothing and screen printing for men and women in Turkey. The company offers jackets, knitwear, shirt, T-shirts and sweatshirts, outerwear, and pants for women and men; dresses and jumpsuits, blouses, vest, skirts, bermuda and shorts, and scarfs and shawls for women; and suits, tuxedoes, and underwear for men. It also provides accessories, such as hats, jewelry, belts, shawl, umbrella, socks, ties, pocket square, bow ties, bracelet, cufflinks, beanie and hats, scarves, gloves; shoes, bags, and wallets, and monogram; beachwear, swimsuits, and bikinis; perfumes; hand and body care; nail polish; and chocolates. In addition, the company offers home decoration products, including furniture, office equipment, decorative home accessories, hobby accessories, table, candle and room diffuser, and bath accessories; table and bath textiles; cruise accessories; and pillows. The company offers products through its stores, as well as online under the brand name Vakko, Vakko Boutique, Vakkorama, VakkoWedding, VakkoHome, and WCollection. Vakko Tekstil ve Hazir Giyim Sanayi Isletmeleri A.S. was founded in 1934 and is based in Istanbul, Turkey. Vakko Tekstil ve Hazir Giyim Sanayi Isletmeleri A.S. operates as a subsidiary of Vakko Holding A.S.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Vakko Tekstil ve Hazir Giyim Sanayi Isletmeleri A.S. reported revenue of 19.9B TRY in FY2025 versus 1.7B TRY in FY2021, a compound +85.0%/yr. Reported net income was 57.0M TRY in FY2025, compounding −28.9%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
19.9B TRY
Latest YoY
+2.1%
Avg. growth/yr (3Y) 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.
+67.3%
Avg. growth/yr (5Y) 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.
+82.4%
Avg. growth/yr (18Y) 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.
+30.1%
Revenue +85.0%/yr
FY21 1.7B TRY
FY22 4.2B TRY
FY23 9.9B TRY
FY24 19.4B TRY
FY25 19.9B TRY
Net income −28.9%/yr
FY21 222M TRY
FY22 1.1B TRY
FY23 1.9B TRY
FY24 1.1B TRY
FY25 57.0M TRY

VAKKO screens 75% overvalued. Compare with H & M Hennes & Mauritz AB →

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Cite: Fair Value Calculator (2026). "Vakko Tekstil ve Hazir Giyim Sanayi Isletmeleri A.S. Fair Value". https://www.fairvalue-calculator.com/stock/VAKKO

Peer Group

Apparel Manufacturing · 214 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 55 · Below median
Fair Value upside −75% · Bottom 25%
Return on assets 3% · Above median
Net margin (TTM) -0% · Below median
Operating margin (TTM) 1% · Below median
Revenue growth 4% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Apparel Manufacturing median · lower = cheaper

P/E (TTM) 190.0× · Pricier than 75% of peers
P/S (TTM) 0.01× · Cheaper than 75% of peers
P/FCF 0.1× · Cheaper than 75% of peers

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 0 · sector 33
FUTURE 18 · sector 4
PAST 0 · sector 19
HEALTH 100 · sector 98
DIVIDEND 0 · sector 50

VALUE 0: the price sits above our fair-value range.

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 Apparel Manufacturing stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
H & M Hennes & Mauritz AB HMB kr 163.45 kr 165.47 +1%
Ralph Lauren Corporation RL $374.08 $224.21 -40%
LPP SA LPP 19,380 PLN 17,754 PLN -8%
Bosideng International Holdings 3998 HK$4.88 HK$5.92 +21%
Youngor Fashion Co 600177 ¥7.57 ¥5.59 -26%
Page Industries Limited PAGEIND ₹39,900 ₹12,395 -69%
Hla Group 600398 ¥6.05 ¥9.92 +64%
Eclat Textile Co 1476 333.50 TWD 357.81 TWD +7%
Youngone Corporation 111770 87,600 KRW 196,629 KRW +124%
Zhejiang Semir Garment Co 002563 ¥5.61 ¥7.29 +30%

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Frequently asked questions

Is Vakko Tekstil ve Hazir Giyim Sanayi Isletmeleri A.S. (VAKKO) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 16.89 TRY versus a price of 68.40 TRY, about −75% (overvalued).
What is the fair value of VAKKO?
Our model-based fair value for Vakko Tekstil ve Hazir Giyim Sanayi Isletmeleri A.S. is 16.89 TRY (as of Aug 13, 2026), built from audited fundamentals. The current price is 68.40 TRY.
What is the quality score of VAKKO?
Vakko Tekstil ve Hazir Giyim Sanayi Isletmeleri A.S. has a Quality Score of 55/100. 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 revenue of Vakko Tekstil ve Hazir Giyim Sanayi Isletmeleri A.S. (VAKKO)?
Vakko Tekstil ve Hazir Giyim Sanayi Isletmeleri A.S. reported trailing-twelve-month revenue of about 20.0B TRY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of VAKKO?
The net profit margin of Vakko Tekstil ve Hazir Giyim Sanayi Isletmeleri A.S. is about -0.3%, meaning it is currently running at a net loss. 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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