Parsan Makina Parçalari Sanayii (IBSE:PARSN) - Share price, News & Analysis

PARSN fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	0/6
Past Performance	2/6
Financial Health	2/6
Dividends	0/6

PARSN Stock Overview

Parsan Makina Parçalari Sanayii A.S. produces and sells forging parts and components for light, medium, and heavy vehicle manufacturers in Turkey.

Rewards

Earnings have grown 66.5% per year over the past 5 years

Risk Analysis

Debt is not well covered by operating cash flow

Profit margins (16.6%) are lower than last year (23.8%)

Parsan Makina Parçalari Sanayii Competitors

Bosch Fren Sistemleri Sanayi ve Ticaret

IBSE:BFREN

₺2.9b

Federal-Mogul Izmit Piston Ve Pim Üretim Tesisleri

IBSE:FMIZP

₺1.8b

Döktas Dökümcülük Ticaret ve Sanayi

IBSE:DOKTA

₺5.6b

Ege Endüstri ve Ticaret

IBSE:EGEEN

₺7.2b

Price History & Performance

Summary of all time highs, changes and price drops for Parsan Makina Parçalari Sanayii
Historical stock prices
Current Share Price	₺42.28
52 Week High	₺41.00
52 Week Low	₺26.00
Beta	0.87
1 Month Change	28.12%
3 Month Change	16.15%
1 Year Change	47.11%
3 Year Change	203.30%
5 Year Change	292.57%
Change since IPO	3,604,333.08%

Shareholder Returns

	PARSN	TR Auto Components	TR Market
7D	17.5%	7.3%	4.7%
1Y	47.1%	60.1%	74.3%

Return vs Industry: PARSN underperformed the TR Auto Components industry which returned 60.1% over the past year.

Return vs Market: PARSN underperformed the TR Market which returned 74.3% over the past year.

Price Volatility

Is PARSN's price volatile compared to industry and market?
PARSN volatility
PARSN Average Weekly Movement	5.8%
Auto Components Industry Average Movement	5.5%
Market Average Movement	5.9%
10% most volatile stocks in TR Market	8.9%
10% least volatile stocks in TR Market	4.2%

Stable Share Price: PARSN is not significantly more volatile than the rest of TR stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: PARSN's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1968	1,221	Tevfik Yamantürk	https://www.parsan.com

Parsan Makina Parçalari Sanayii A.S. produces and sells forging parts and components for light, medium, and heavy vehicle manufacturers in Turkey. The company offers body parts, including rear axle shafts, front axle beams, and front axle assemblies; and engine parts, such as crankshafts, camshafts, forged pistons, steering knuckles, rods, pinion forgings, various gear forgings, spider gears, slip shafts, and other products and assemblies. It serves automotive, agricultural and construction equipment, aerospace, railway, and other industries.

Parsan Makina Parçalari Sanayii Fundamentals Summary

How do Parsan Makina Parçalari Sanayii's earnings and revenue compare to its market cap?
PARSN fundamental statistics
Market Cap	₺3.16b
Earnings (TTM)	₺233.42m
Revenue (TTM)	₺1.41b

14.0x

P/E Ratio

2.3x

P/S Ratio

Is PARSN overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
PARSN income statement (TTM)
Revenue	₺1.41b
Cost of Revenue	₺1.07b
Gross Profit	₺336.01m
Other Expenses	₺102.60m
Earnings	₺233.42m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	3.03
Gross Margin	23.90%
Net Profit Margin	16.60%
Debt/Equity Ratio	102.9%

How did PARSN perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is PARSN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PARSN?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for PARSN. This is calculated by dividing PARSN's market cap by their current preferred multiple.
What is PARSN's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	₺3.16b

PARSN key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	3.8x
Enterprise Value/EBITDA	15.7x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does PARSN's PE Ratio compare to its peers?

PARSN PE Ratio vs Peers

The above table shows the PE ratio for PARSN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	31.4x
BFREN Bosch Fren Sistemleri Sanayi ve Ticaret	75.6x	n/a	₺2.9b
FMIZP Federal-Mogul Izmit Piston Ve Pim Üretim Tesisleri	21.1x	n/a	₺1.8b
DOKTA Döktas Dökümcülük Ticaret ve Sanayi	19.3x	n/a	₺5.6b
EGEEN Ege Endüstri ve Ticaret	9.7x	n/a	₺7.2b
PARSN Parsan Makina Parçalari Sanayii	14x	n/a	₺3.2b

Price-To-Earnings vs Peers: PARSN is good value based on its Price-To-Earnings Ratio (14x) compared to the peer average (31.4x).

Price to Earnings Ratio vs Industry

How does PARSN's PE Ratio compare vs other companies in the Asian Auto Components Industry?

Price-To-Earnings vs Industry: PARSN is expensive based on its Price-To-Earnings Ratio (14x) compared to the TR Auto Components industry average (13.5x)

Price to Earnings Ratio vs Fair Ratio

What is PARSN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PARSN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	14x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate PARSN's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of PARSN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate PARSN's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate PARSN's fair value for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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Future Growth

How is Parsan Makina Parçalari Sanayii forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

24.6%

Forecasted Automobiles industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Parsan Makina Parçalari Sanayii has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

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Take a look at our analysis of PARSN’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.

Past Performance

How has Parsan Makina Parçalari Sanayii performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

66.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PARSN has high quality earnings.

Growing Profit Margin: PARSN's current net profit margins (16.6%) are lower than last year (23.8%).

Past Earnings Growth Analysis

Earnings Trend: PARSN has become profitable over the past 5 years, growing earnings by 66.5% per year.

Accelerating Growth: PARSN's earnings growth over the past year (40.5%) is below its 5-year average (66.5% per year).

Earnings vs Industry: PARSN earnings growth over the past year (40.5%) underperformed the Auto Components industry 78.9%.

Return on Equity

High ROE: PARSN's Return on Equity (15%) is considered low.

Discover strong past performing companies

Financial Health

How is Parsan Makina Parçalari Sanayii's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: PARSN's short term assets (TRY1.0B) do not cover its short term liabilities (TRY1.6B).

Long Term Liabilities: PARSN's short term assets (TRY1.0B) exceed its long term liabilities (TRY992.4M).

Debt to Equity History and Analysis

Debt Level: PARSN's net debt to equity ratio (99.7%) is considered high.

Reducing Debt: PARSN's debt to equity ratio has increased from 89.8% to 102.9% over the past 5 years.

Debt Coverage: PARSN's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: PARSN earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

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Dividend

What is Parsan Makina Parçalari Sanayii current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate PARSN's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate PARSN's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PARSN's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PARSN's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as PARSN has not reported any payouts.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

5.3yrs

Average board tenure

CEO

Tevfik Yamantürk (66 yo)

6.25yrs

Tenure

Mr. Tevfik Yamantürk has been Chairman of the Board and Chief Executive Officer at Parsan Makina Parcalari Sanayii AS since May 3, 2016. Mr. Yamantürk serves as Chairman of Döktas Dökümcülük Ticaret ve San...

Board Members

Experienced Board: PARSN's board of directors are considered experienced (5.3 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/08/09 00:00
End of Day Share Price	2022/08/09 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31