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VEST

Vestel Elektronik Sanayi ve Ticaret Anonim Sirketi IBSE:VESTL Stock Report

Last Price

₺23.94

Market Cap

₺8.0b

7D

-6.3%

1Y

-23.0%

Updated

03 Jul, 2022

Data

Company Financials +
VESTL fundamental analysis
Snowflake Score
Valuation6/6
Future Growth6/6
Past Performance2/6
Financial Health3/6
Dividends2/6

VESTL Stock Overview

Vestel Elektronik Sanayi ve Ticaret Anonim Sirketi, together with its subsidiaries, produces and sells brown and white goods in Turkey, Europe, and internationally.

Vestel Elektronik Sanayi ve Ticaret Anonim Sirketi Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Vestel Elektronik Sanayi ve Ticaret Anonim Sirketi
Historical stock prices
Current Share Price₺23.94
52 Week High₺33.34
52 Week Low₺20.80
Beta1.52
1 Month Change-10.74%
3 Month Change-12.50%
1 Year Change-22.97%
3 Year Change112.99%
5 Year Change253.62%
Change since IPO77,208.10%

Recent News & Updates

Shareholder Returns

VESTLTR Consumer DurablesTR Market
7D-6.3%-4.4%-3.6%
1Y-23.0%56.9%56.0%

Return vs Industry: VESTL underperformed the TR Consumer Durables industry which returned 56.9% over the past year.

Return vs Market: VESTL underperformed the TR Market which returned 56% over the past year.

Price Volatility

Is VESTL's price volatile compared to industry and market?
VESTL volatility
VESTL Average Weekly Movement5.3%
Consumer Durables Industry Average Movement5.4%
Market Average Movement6.0%
10% most volatile stocks in TR Market8.6%
10% least volatile stocks in TR Market4.2%

Stable Share Price: VESTL is not significantly more volatile than the rest of TR stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: VESTL's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
198320,081Enis Erdoganhttps://www.vestel.com.tr

Vestel Elektronik Sanayi ve Ticaret Anonim Sirketi, together with its subsidiaries, produces and sells brown and white goods in Turkey, Europe, and internationally. The company operates through three segments: Television and Electronic Devices, White Goods, and Other. The company provides refrigerators and freezers, washing machines, tumble dryers, cookers, ovens, water heaters, dishwashers, air-conditioners, and other cooking appliances.

Vestel Elektronik Sanayi ve Ticaret Anonim Sirketi Fundamentals Summary

How do Vestel Elektronik Sanayi ve Ticaret Anonim Sirketi's earnings and revenue compare to its market cap?
VESTL fundamental statistics
Market Cap₺8.03b
Earnings (TTM)₺2.15b
Revenue (TTM)₺38.05b

3.7x

P/E Ratio

0.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
VESTL income statement (TTM)
Revenue₺38.05b
Cost of Revenue₺27.75b
Gross Profit₺10.29b
Other Expenses₺8.15b
Earnings₺2.15b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)6.40
Gross Margin27.05%
Net Profit Margin5.64%
Debt/Equity Ratio121.2%

How did VESTL perform over the long term?

See historical performance and comparison

Dividends

29.4%

Current Dividend Yield

110%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

6/6

Valuation Score 6/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

VESTL 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/Revenue0.6x
Enterprise Value/EBITDA5.2x
PEG Ratio0.2x

Price to Earnings Ratio vs Peers

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

VESTL PE Ratio vs Peers
The above table shows the PE ratio for VESTL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average12.7x
VESBE Vestel Beyaz Esya Sanayi ve Ticaret
8x50.6%₺14.3b
MAVI Mavi Giyim Sanayi ve Ticaret
7.8x7.3%₺5.2b
ISBIR Isbir Holding
11.2xn/a₺1.7b
KUTPO Kütahya Porselen Sanayi Anonim Sirketi
23.5xn/a₺1.7b
VESTL Vestel Elektronik Sanayi ve Ticaret Anonim Sirketi
3.7x21.3%₺8.0b

Price-To-Earnings vs Peers: VESTL is good value based on its Price-To-Earnings Ratio (3.7x) compared to the peer average (12.7x).


Price to Earnings Ratio vs Industry

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

Price-To-Earnings vs Industry: VESTL is good value based on its Price-To-Earnings Ratio (3.7x) compared to the TR Consumer Durables industry average (10x)


Price to Earnings Ratio vs Fair Ratio

What is VESTL'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.

VESTL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio3.7x
Fair PE Ratio6.2x

Price-To-Earnings vs Fair Ratio: VESTL is good value based on its Price-To-Earnings Ratio (3.7x) compared to the estimated Fair Price-To-Earnings Ratio (6.2x).


Share Price vs Fair Value

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

Below Fair Value: VESTL (TRY23.94) is trading below our estimate of fair value (TRY34.47)

Significantly Below Fair Value: VESTL is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: VESTL is good value based on its PEG Ratio (0.2x)


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Future Growth

How is Vestel Elektronik Sanayi ve Ticaret Anonim Sirketi forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

6/6

Future Growth Score 6/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


21.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: VESTL's forecast earnings growth (21.3% per year) is above the savings rate (8.9%).

Earnings vs Market: VESTL's earnings (21.3% per year) are forecast to grow faster than the TR market (17.3% per year).

High Growth Earnings: VESTL's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: VESTL's revenue (30.2% per year) is forecast to grow faster than the TR market (14.7% per year).

High Growth Revenue: VESTL's revenue (30.2% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: VESTL's Return on Equity is forecast to be high in 3 years time (32.6%)


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Past Performance

How has Vestel Elektronik Sanayi ve Ticaret Anonim Sirketi 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


61.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: VESTL has high quality earnings.

Growing Profit Margin: VESTL's current net profit margins (5.6%) are lower than last year (7.4%).


Past Earnings Growth Analysis

Earnings Trend: VESTL's earnings have grown significantly by 61.7% per year over the past 5 years.

Accelerating Growth: VESTL's earnings growth over the past year (21.8%) is below its 5-year average (61.7% per year).

Earnings vs Industry: VESTL earnings growth over the past year (21.8%) underperformed the Consumer Durables industry 26%.


Return on Equity

High ROE: Whilst VESTL's Return on Equity (22.25%) is high, this metric is skewed due to their high level of debt.


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Financial Health

How is Vestel Elektronik Sanayi ve Ticaret Anonim Sirketi's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: VESTL's short term assets (TRY23.8B) do not cover its short term liabilities (TRY35.2B).

Long Term Liabilities: VESTL's short term assets (TRY23.8B) exceed its long term liabilities (TRY2.4B).


Debt to Equity History and Analysis

Debt Level: VESTL's net debt to equity ratio (105.4%) is considered high.

Reducing Debt: VESTL's debt to equity ratio has reduced from 182.9% to 121.2% over the past 5 years.

Debt Coverage: VESTL's debt is not well covered by operating cash flow (12.1%).

Interest Coverage: VESTL's interest payments on its debt are well covered by EBIT (7.3x coverage).


Balance Sheet


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Dividend

What is Vestel Elektronik Sanayi ve Ticaret Anonim Sirketi current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


29.39%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: VESTL's dividend (29.39%) is higher than the bottom 25% of dividend payers in the TR market (0.71%).

High Dividend: VESTL's dividend (29.39%) is in the top 25% of dividend payers in the TR market (3.76%)


Stability and Growth of Payments

Stable Dividend: Too early to tell whether VESTL's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if VESTL's dividend payments are increasing as they only just started paying a dividend.


Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (109.9%), VESTL's dividend payments are not well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: VESTL is paying a dividend but the company has no free cash flows.


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Management

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

2.5yrs

Average management tenure


CEO

Enis Erdogan (67 yo)

no data

Tenure

Mr. Enis Turan Erdogan serves as Chief Executive Officer of Vestel Elektronik Sanayi ve Ticaret Anonim Sirketi (formerly known as Vestel Elektronik Sanayi ve Ticaret AS) and has been its Chairman of the Ex...


Leadership Team

Experienced Management: VESTL's management team is considered experienced (2.5 years average tenure).


Board Members

Experienced Board: VESTL's board of directors are seasoned and experienced ( 10.1 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.


Top Shareholders

Company Information

Vestel Elektronik Sanayi ve Ticaret Anonim Sirketi's employee growth, exchange listings and data sources


Key Information

  • Name: Vestel Elektronik Sanayi ve Ticaret Anonim Sirketi
  • Ticker: VESTL
  • Exchange: IBSE
  • Founded: 1983
  • Industry: Consumer Electronics
  • Sector: Consumer Durables
  • Implied Market Cap: ₺8.031b
  • Shares outstanding: 335.46m
  • Website: https://www.vestel.com.tr

Number of Employees


Location

  • Vestel Elektronik Sanayi ve Ticaret Anonim Sirketi
  • Buyukdere Caddesi No: 199
  • Levent 199
  • Istanbul
  • 34394
  • Turkey

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/07/03 00:00
End of Day Share Price2022/07/01 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.