Türkiye Petrol Rafinerileri A.S.

IBSE:TUPRS Stock Report

Market Cap: ₺281.9b

Türkiye Petrol Rafinerileri Valuation

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

Below Fair Value: TUPRS (TRY144.4) is trading above our estimate of fair value (TRY74.63)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for TUPRS. This is calculated by dividing TUPRS's market cap by their current earnings.
What is TUPRS's PE Ratio?
PE Ratio6.4x
Earnings₺43.75b
Market Cap₺281.89b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for TUPRS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12.2x
TRCAS Turcas Petrol
6.3xn/a₺7.0b
5019 Idemitsu KosanLtd
8.1x2.3%JP¥1.3t
PKN Orlen
14.6x17.5%zł54.0b
DINO HF Sinclair
20x26.9%US$6.7b
TUPRS Türkiye Petrol Rafinerileri
6.4x-1.2%₺281.9b

Price-To-Earnings vs Peers: TUPRS is good value based on its Price-To-Earnings Ratio (6.4x) compared to the peer average (12.2x).

Price to Earnings Ratio vs Industry

How does TUPRS's PE Ratio compare vs other companies in the Asian Oil and Gas Industry?

7 CompaniesPrice / EarningsEstimated GrowthMarket Cap
TUPRS 6.4xIndustry Avg. 10.5xNo. of Companies37PE0816243240+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TUPRS is good value based on its Price-To-Earnings Ratio (6.4x) compared to the Asian Oil and Gas industry average (10.5x).

Price to Earnings Ratio vs Fair Ratio

What is TUPRS'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.

TUPRS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.4x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate TUPRS's Price-To-Earnings 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?

The above table shows the analyst TUPRS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₺144.40
₺193.64
+34.1%
25.6%₺246.00₺84.90n/a11
Dec ’25₺147.20
₺193.64
+31.5%
25.6%₺246.00₺84.90n/a11
Nov ’25₺145.10
₺194.09
+33.8%
26.3%₺246.00₺84.90n/a11
Oct ’25₺155.20
₺193.84
+24.9%
25.5%₺242.00₺84.90n/a11
Sep ’25₺168.60
₺197.93
+17.4%
23.3%₺242.00₺84.90n/a11
Aug ’25₺164.30
₺198.32
+20.7%
22.0%₺242.00₺84.90n/a12
Jul ’25₺163.80
₺195.43
+19.3%
22.6%₺240.00₺84.90n/a11
Jun ’25₺176.70
₺189.48
+7.2%
24.8%₺240.00₺84.90n/a12
May ’25₺195.80
₺181.21
-7.4%
22.8%₺228.71₺84.90n/a13
Apr ’25₺178.50
₺170.70
-4.4%
27.3%₺227.00₺73.00n/a13
Mar ’25₺164.80
₺154.98
-6.0%
33.3%₺227.00₺73.00n/a14
Feb ’25₺154.70
₺136.77
-11.6%
40.8%₺214.83₺22.29n/a14
Jan ’25₺143.00
₺134.23
-6.1%
39.8%₺214.83₺22.29n/a14
Dec ’24₺153.30
₺134.23
-12.4%
39.8%₺214.83₺22.29₺147.2014
Nov ’24₺145.00
₺134.23
-7.4%
39.8%₺214.83₺22.29₺145.1014
Oct ’24₺159.00
₺126.99
-20.1%
32.3%₺214.83₺68.00₺155.2014
Sep ’24₺142.70
₺108.25
-24.1%
22.5%₺145.00₺68.00₺168.6013
Aug ’24₺101.30
₺107.33
+6.0%
21.6%₺140.00₺68.00₺164.3013
Jul ’24₺79.30
₺89.28
+12.6%
16.5%₺109.00₺51.00₺163.8013
Jun ’24₺67.65
₺89.04
+31.6%
16.0%₺109.00₺51.00₺176.7014
May ’24₺66.30
₺86.78
+30.9%
19.4%₺109.00₺51.43₺195.8014
Apr ’24₺75.73
₺82.96
+9.6%
18.8%₺106.43₺51.43₺178.5015
Mar ’24₺85.69
₺80.49
-6.1%
22.7%₺106.43₺48.57₺164.8015
Feb ’24₺80.39
₺74.67
-7.1%
21.7%₺106.43₺48.57₺154.7015
Jan ’24₺75.70
₺67.19
-11.2%
19.3%₺97.14₺48.57₺143.0014
Dec ’23₺69.29
₺67.19
-3.0%
19.3%₺97.14₺48.57₺153.3014

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 Analysis2024/12/19 17:47
End of Day Share Price 2024/12/19 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

Türkiye Petrol Rafinerileri A.S. is covered by 37 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Hakan DepremAk Yatirim Menkul Degerler A.S.
Burak SalmanAta Invest
Hanzade KilickiranBarclays