Merko Gida Sanayi ve Ticaret Valuation

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

MERKO (TRY15.65) is trading below our estimate of [[fair value]] (TRY17.36)

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

Below Fair Value: MERKO (TRY15.65) is trading below our estimate of fair value (TRY17.36)

Significantly Below Fair Value: MERKO is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for MERKO. This is calculated by dividing MERKO's market cap by their current earnings.
What is MERKO's PE Ratio?
PE Ratio	18.5x
Earnings	₺85.77m
Market Cap	₺1.58b

MERKO 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	2.2x
Enterprise Value/EBITDA	6.8x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MERKO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	11.7x
KTSKR Kutahya Seker Fabrikasi Anonim Sirketi	14.5x	n/a	₺2.9b
FADE Fade Gida Yatirim Sanayi Ticaret Anonim Sirketi	7.2x	n/a	₺1.3b
DARDL Dardanel Onentas Gida Sanayi	17.8x	n/a	₺3.0b
FRIGO Frigo-Pak Gida Maddeleri Sanayi ve Ticaret	7.4x	n/a	₺1.2b
MERKO Merko Gida Sanayi ve Ticaret	18.5x	n/a	₺1.6b

Price-To-Earnings vs Peers: MERKO is expensive based on its Price-To-Earnings Ratio (18.5x) compared to the peer average (11.7x).

Price to Earnings Ratio vs Industry

How does MERKO's PE Ratio compare vs other companies in the TR Food Industry?

1 Company	Price / Earnings	Estimated Growth	Market Cap
SELVA Selva Gida Sanayi	2.1x	n/a	US$23.23m

No more companies available in this PE range

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: MERKO is good value based on its Price-To-Earnings Ratio (18.5x) compared to the TR Food industry average (19.4x).

Price to Earnings Ratio vs Fair Ratio

What is MERKO'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.

MERKO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	18.5x
Fair PE Ratio	n/a

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

Analyst Forecast: Insufficient data to show price forecast.

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