Migros Ticaret A.S.

IBSE:MGROS Stock Report

Market Cap: ₺96.0b

Migros Ticaret Valuation

Is MGROS 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 MGROS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

₺193.4
Fair Value
174.0% overvalued intrinsic discount
12
Number of Analysts

Below Fair Value: MGROS (TRY530) is trading above our estimate of fair value (TRY193.4)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for MGROS. This is calculated by dividing MGROS's market cap by their current earnings.
What is MGROS's PE Ratio?
PE Ratio20.5x
Earnings₺4.68b
Market Cap₺95.96b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MGROS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18.9x
BIMAS BIM Birlesik Magazalar
29x36.20%₺329.7b
ADESE Adese Gayrimenkul Yatirim
12.2xn/a₺10.4b
MOPAS Mopas Marketcilik Gida Sanayi ve Ticaret Anonim Sirketi
23.4xn/a₺7.4b
KIMMR Ersan Alisveris Hizmetleri ve Gida Sanayi Ticaret
11xn/a₺3.6b
MGROS Migros Ticaret
20.5x39.51%₺96.0b

Price-To-Earnings vs Peers: MGROS is expensive based on its Price-To-Earnings Ratio (20.5x) compared to the peer average (18.9x).

Price to Earnings Ratio vs Industry

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

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
MGROS 20.5xIndustry Avg. 16.6xNo. of Companies42PE01224364860+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MGROS is expensive based on its Price-To-Earnings Ratio (20.5x) compared to the Asian Consumer Retailing industry average (17x).

Price to Earnings Ratio vs Fair Ratio

What is MGROS'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.

MGROS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio20.5x
Fair PE Ratio21.4x

Price-To-Earnings vs Fair Ratio: MGROS is good value based on its Price-To-Earnings Ratio (20.5x) compared to the estimated Fair Price-To-Earnings Ratio (21.4x).

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 MGROS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₺530.00
₺769.55
+45.20%
10.12%₺883.10₺650.00n/a12
Nov ’26₺453.50
₺759.22
+67.41%
10.22%₺883.10₺650.00n/a12
Oct ’26₺463.50
₺755.17
+62.93%
10.47%₺883.10₺650.00n/a12
Sep ’26₺477.25
₺764.58
+60.21%
12.66%₺982.00₺650.00n/a12
Aug ’26₺525.00
₺772.99
+47.24%
11.46%₺982.00₺657.00n/a13
Jul ’26₺499.50
₺775.06
+55.17%
11.51%₺982.00₺657.00n/a13
Jun ’26₺477.00
₺775.06
+62.49%
11.51%₺982.00₺657.00n/a13
May ’26₺478.50
₺778.87
+62.77%
10.04%₺982.00₺657.00n/a13
Apr ’26₺495.25
₺778.87
+57.27%
10.04%₺982.00₺657.00n/a13
Mar ’26₺562.00
₺778.18
+38.47%
10.04%₺982.00₺657.00n/a13
Feb ’26₺585.00
₺788.14
+34.72%
9.68%₺982.00₺657.00n/a13
Jan ’26₺547.00
₺722.93
+32.16%
13.13%₺982.00₺623.00n/a12
Dec ’25₺483.25
₺677.10
+40.11%
13.51%₺790.00₺432.00n/a12
Nov ’25₺415.75
₺677.10
+62.86%
13.51%₺790.00₺432.00₺453.5012
Oct ’25₺439.50
₺661.23
+50.45%
14.86%₺790.00₺432.00₺463.5013
Sep ’25₺484.50
₺661.23
+36.48%
14.86%₺790.00₺432.00₺477.2513
Aug ’25₺545.00
₺620.93
+13.93%
16.06%₺790.00₺432.00₺525.0013
Jul ’25₺525.00
₺577.93
+10.08%
15.57%₺713.20₺432.00₺499.5013
Jun ’25₺475.25
₺548.27
+15.36%
14.04%₺696.90₺432.00₺477.0013
May ’25₺442.00
₺537.41
+21.59%
13.41%₺708.20₺432.00₺478.5014
Apr ’25₺430.00
₺537.41
+24.98%
13.41%₺708.20₺432.00₺495.2514
Mar ’25₺490.75
₺531.73
+8.35%
13.74%₺708.20₺432.00₺562.0013
Feb ’25₺421.75
₺485.31
+15.07%
15.32%₺623.00₺349.00₺585.0014
Jan ’25₺335.00
₺451.72
+34.84%
11.85%₺530.00₺349.00₺547.0014
Dec ’24₺352.00
₺450.01
+27.84%
11.96%₺530.00₺349.00₺483.2514
Nov ’24₺349.00
₺429.68
+23.12%
13.74%₺530.00₺310.80₺415.7513
₺769.55
Fair Value
31.1% undervalued intrinsic discount
12
Number of Analysts

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 Analysis2025/11/19 11:41
End of Day Share Price 2025/11/19 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

Migros Ticaret A.S. is covered by 26 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullAta Invest
Hanzade KilickiranBarclays
Batuhan KarabekirBerenberg