Verusaturk Girisim Sermayesi Yatirim Ortakligi Valuation

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

VERTU (TRY38.7) is trading above our estimate of [[fair value]] (TRY28.12)

Is VERTU 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-Book vs Peers
Price-To-Book vs Industry
Price-To-Book vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: VERTU (TRY38.7) is trading above our estimate of fair value (TRY28.12)

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

Key Valuation Metric

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

Key metric: As VERTU is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for VERTU. This is calculated by dividing VERTU's market cap by their current book value.
What is VERTU's PB Ratio?
PB Ratio	0.6x
Book	₺3.62b
Market Cap	₺2.01b

VERTU 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	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	n/a

Price to Book Ratio vs Peers

How does VERTU's PB Ratio compare to its peers?

The above table shows the PB ratio for VERTU vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PB	Estimated Growth	Market Cap
Peer Average	3x
ISGSY Is Girisim Sermayesi Yatirim Ortakligi	0.7x	n/a	₺2.4b
MARKA Marka Yatirim Holding	7.1x	n/a	₺1.3b
UNLU ÜNLÜ Yatirim Holding	1.1x	n/a	₺2.4b
BRKVY Birikim Varlik Yonetim Anonim Sirketi	3x	n/a	₺2.7b
VERTU Verusaturk Girisim Sermayesi Yatirim Ortakligi	0.6x	n/a	₺2.0b

Price-To-Book vs Peers: VERTU is good value based on its Price-To-Book Ratio (0.6x) compared to the peer average (3x).

Price to Book Ratio vs Industry

How does VERTU's PB Ratio compare vs other companies in the TR Capital Markets Industry?

2 Companies	Price / Book	Estimated Growth	Market Cap
GOZDE Gozde Girisim Sermayesi Yatirim Ortakligi	0.4x	n/a	US$292.30m
YESIL Yesil Yatirim Holding Anonim Sirketi	0.3x	n/a	US$9.17m

No more companies available in this PB range

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Book vs Industry: VERTU is good value based on its Price-To-Book Ratio (0.6x) compared to the TR Capital Markets industry average (1.8x).

Price to Book Ratio vs Fair Ratio

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

VERTU PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	0.6x
Fair PB Ratio	n/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate VERTU's Price-To-Book Fair Ratio 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.