Vestel Beyaz Esya Sanayi ve Ticaret A.S.

IBSE:VESBE Stock Report

Market Cap: ₺27.2b

Vestel Beyaz Esya Sanayi ve Ticaret Valuation

Is VESBE 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-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: VESBE (TRY16.99) is trading above our estimate of fair value (TRY3.49)

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

Key Valuation Metric

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

Key metric: As VESBE is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for VESBE. This is calculated by dividing VESBE's market cap by their current revenue.
What is VESBE's PS Ratio?
PS Ratio0.5x
Sales₺52.13b
Market Cap₺27.18b

Price to Sales Ratio vs Peers

How does VESBE's PS Ratio compare to its peers?

The above table shows the PS ratio for VESBE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.3x
ARCLK Arçelik Anonim Sirketi
0.3x22.8%₺88.0b
ARZUM Arzum Elektrikli Ev Aletleri Sanayi ve Ticaret
0.3xn/a₺1.3b
IHEVA Ihlas Ev Aletleri Imalat Sanayi ve Ticaret
0.4xn/a₺876.5m
VESTL Vestel Elektronik Sanayi ve Ticaret Anonim Sirketi
0.2x39.7%₺24.0b
VESBE Vestel Beyaz Esya Sanayi ve Ticaret
0.5x23.0%₺27.2b

Price-To-Sales vs Peers: VESBE is expensive based on its Price-To-Sales Ratio (0.5x) compared to the peer average (0.3x).

Price to Sales Ratio vs Industry

How does VESBE's PS Ratio compare vs other companies in the Asian Consumer Durables Industry?

72 CompaniesPrice / SalesEstimated GrowthMarket Cap
VESBE 0.5xIndustry Avg. 1.2xNo. of Companies86PS01.22.43.64.86+
72 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: VESBE is good value based on its Price-To-Sales Ratio (0.5x) compared to the Asian Consumer Durables industry average (1.2x).

Price to Sales Ratio vs Fair Ratio

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

VESBE PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.5x
Fair PS Ratio0.2x

Price-To-Sales vs Fair Ratio: VESBE is expensive based on its Price-To-Sales Ratio (0.5x) compared to the estimated Fair Price-To-Sales Ratio (0.2x).

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 VESBE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₺16.99
₺27.23
+60.3%
9.8%₺30.55₺24.00n/a3
Dec ’25₺17.06
₺28.06
+64.5%
6.3%₺30.55₺26.50n/a3
Nov ’25₺17.02
₺28.06
+64.9%
6.3%₺30.55₺26.50n/a3
Oct ’25₺17.04
₺30.07
+76.5%
9.1%₺34.33₺27.14n/a4
Sep ’25₺17.46
₺31.05
+77.8%
8.0%₺34.33₺28.27n/a3
Aug ’25₺20.68
₺31.29
+51.3%
7.2%₺34.33₺29.00n/a3
Jul ’25₺20.60
₺31.29
+51.9%
7.2%₺34.33₺29.00n/a3
Jun ’25₺23.84
₺31.29
+31.3%
7.2%₺34.33₺29.00n/a3
May ’25₺22.20
₺29.20
+31.5%
12.7%₺34.33₺24.30n/a4
Apr ’25₺19.14
₺28.06
+46.6%
13.6%₺34.33₺24.30n/a4
Mar ’25₺20.80
₺28.06
+34.9%
13.6%₺34.33₺24.30n/a4
Feb ’25₺17.61
₺26.39
+49.9%
3.3%₺27.61₺25.56n/a3
Jan ’25₺16.00
₺26.39
+64.9%
3.3%₺27.61₺25.56₺16.953
Dec ’24₺16.75
₺26.59
+58.7%
3.9%₺27.61₺25.56₺17.062
Nov ’24₺16.43
₺26.59
+61.8%
3.9%₺27.61₺25.56₺17.022
Oct ’24₺16.84
₺23.35
+38.7%
2.0%₺23.81₺22.89₺17.042
Sep ’24₺17.94
₺23.35
+30.2%
2.0%₺23.81₺22.89₺17.462
Aug ’24₺16.80
₺16.50
-1.8%
36.5%₺22.30₺8.21₺20.683
Jul ’24₺12.35
₺15.58
+26.2%
35.8%₺21.71₺8.21₺20.603
Jun ’24₺11.17
₺15.58
+39.5%
35.8%₺21.71₺8.21₺23.843
May ’24₺10.58
₺15.58
+47.3%
35.8%₺21.71₺8.21₺22.203
Apr ’24₺10.05
₺15.58
+55.1%
35.8%₺21.71₺8.21₺19.143
Mar ’24₺12.42
₺15.58
+25.5%
35.8%₺21.71₺8.21₺20.803
Feb ’24₺12.58
₺15.29
+21.5%
36.2%₺21.71₺8.21₺17.613
Jan ’24₺13.78
₺12.98
-5.8%
26.2%₺15.95₺8.21₺16.003

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/03 04:27
End of Day Share Price 2025/01/03 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

Vestel Beyaz Esya Sanayi ve Ticaret A.S. is covered by 12 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Erman TUTUNCUOGLUAta Invest
Mehmet DasiranBNP Paribas Securities (Asia)
Mehmet AgyuzBurgan Securities