Türk Traktör ve Ziraat Makineleri A.S.

IBSE:TTRAK Stock Report

Market Cap: ₺72.4b

Türk Traktör ve Ziraat Makineleri Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: TTRAK (TRY724) is trading above our estimate of fair value (TRY439.74)

Significantly Below Fair Value: TTRAK is trading above our estimate of fair value.

Key Valuation Metric

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

Key metric: As TTRAK is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for TTRAK. This is calculated by dividing TTRAK's market cap by their current earnings.
What is TTRAK's PE Ratio?
PE Ratio11.4x
Earnings₺6.34b
Market Cap₺72.45b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for TTRAK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average38.9x
AGHOL AG Anadolu Grubu Holding
13.2xn/a₺79.3b
KLRHO Kiler Holding Anonim Sirketi
53.5xn/a₺54.6b
JANTS Jantsa Jant Sanayi ve Ticaret
67.9xn/a₺18.5b
ASTOR Astor Enerji
20.9x39.3%₺119.2b
TTRAK Türk Traktör ve Ziraat Makineleri
11.4x4.0%₺72.4b

Price-To-Earnings vs Peers: TTRAK is good value based on its Price-To-Earnings Ratio (11.4x) compared to the peer average (36x).

Price to Earnings Ratio vs Industry

How does TTRAK's PE Ratio compare vs other companies in the Asian Machinery Industry?

19 CompaniesPrice / EarningsEstimated GrowthMarket Cap
TTRAK 11.4xIndustry Avg. 22.6xNo. of Companies149PE01632486480+
19 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TTRAK is good value based on its Price-To-Earnings Ratio (11.4x) compared to the Asian Machinery industry average (22.6x).

Price to Earnings Ratio vs Fair Ratio

What is TTRAK'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.

TTRAK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.4x
Fair PE Ratio6.3x

Price-To-Earnings vs Fair Ratio: TTRAK is expensive based on its Price-To-Earnings Ratio (11.4x) compared to the estimated Fair Price-To-Earnings Ratio (6.3x).

Analyst Price Targets

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

The above table shows the analyst TTRAK forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₺724.00
₺966.42
+33.5%
15.5%₺1,235.02₺786.37n/a8
Dec ’25₺778.00
₺982.05
+26.2%
14.3%₺1,235.02₺786.37n/a8
Nov ’25₺730.00
₺1,005.57
+37.7%
18.7%₺1,423.20₺786.37n/a8
Oct ’25₺695.00
₺1,015.43
+46.1%
17.4%₺1,423.20₺786.37n/a9
Sep ’25₺730.50
₺1,015.43
+39.0%
17.4%₺1,423.20₺786.37n/a9
Aug ’25₺766.00
₺1,008.21
+31.6%
18.3%₺1,423.20₺743.40n/a9
Jul ’25₺905.00
₺987.89
+9.2%
18.3%₺1,423.20₺743.40n/a9
Jun ’25₺998.00
₺987.89
-1.0%
18.3%₺1,423.20₺743.40n/a9
May ’25₺919.50
₺978.33
+6.4%
16.4%₺1,373.30₺743.40n/a9
Apr ’25₺922.00
₺971.00
+5.3%
18.4%₺1,373.30₺743.40n/a8
Mar ’25₺861.00
₺945.87
+9.9%
19.4%₺1,373.30₺743.40n/a8
Feb ’25₺819.50
₺913.16
+11.4%
25.1%₺1,412.60₺544.00n/a8
Jan ’25₺712.00
₺929.91
+30.6%
24.0%₺1,412.60₺544.00₺750.008
Dec ’24₺702.50
₺875.25
+24.6%
31.5%₺1,412.60₺443.37₺778.008
Nov ’24₺730.30
₺747.73
+2.4%
30.0%₺1,000.00₺412.90₺730.008
Oct ’24₺881.00
₺615.46
-30.1%
37.6%₺918.14₺315.00₺695.009
Sep ’24₺921.60
₺615.46
-33.2%
37.6%₺918.14₺315.00₺730.509
Aug ’24₺683.30
₺535.47
-21.6%
36.3%₺905.00₺315.00₺766.009
Jul ’24₺406.20
₺398.74
-1.8%
11.3%₺472.00₺309.33₺905.009
Jun ’24₺368.00
₺370.45
+0.7%
15.0%₺472.00₺289.06₺998.009
May ’24₺297.60
₺348.13
+17.0%
15.3%₺414.77₺245.87₺919.5010
Apr ’24₺267.14
₺325.56
+21.9%
16.4%₺389.33₺244.16₺922.009
Mar ’24₺308.69
₺319.93
+3.6%
15.3%₺386.18₺244.16₺861.009
Feb ’24₺276.64
₺303.14
+9.6%
16.2%₺373.33₺235.09₺819.509
Jan ’24₺352.00
₺266.42
-24.3%
13.7%₺338.66₺223.52₺712.009

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/02 02:38
End of Day Share Price 2025/01/02 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Türk Traktör ve Ziraat Makineleri A.S. is covered by 24 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Cemal DemirtasAta Invest
Kenan CosgunerBNP Paribas Securities (Asia)
Ali BirdalBofA Global Research