Fonet Bilgi Teknolojileri Anonim Sirketi (IBSE:FONET) - Share price, News & Analysis

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

FONET (TRY12.47) is trading above our estimate of [[fair value]] (TRY2.44)

FONET fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	0/6
Past Performance	3/6
Financial Health	6/6
Dividends	0/6

FONET Stock Overview

Fonet Bilgi Teknolojileri Anonim Sirketi engages in information technology (IT) services in the health sector in Turkey.

Rewards

Price-To-Earnings ratio (13x) is below the Healthcare Services industry average (35.7x)

Earnings grew by 24.4% over the past year

Risk Analysis

Highly volatile share price over the past 3 months

High level of non-cash earnings

Does not have a meaningful market cap (TRY509M)

Fonet Bilgi Teknolojileri Anonim Sirketi Competitors

Lokman Hekim Engürüsag Saglik Turizm Egitim Hizmetleri ve Insaat Taahhüt

IBSE:LKMNH

₺588.2m

Seyitler Kimya Sanayi

IBSE:SEYKM

₺277.6m

Avrupa Yatirim Holding

IBSE:AVHOL

₺283.8m

Nasmed Özel Saglik Hizmetleri Ticaret Anonim Sirketi

IBSE:EGEPO

₺1.3b

Price History & Performance

Summary of all time highs, changes and price drops for Fonet Bilgi Teknolojileri Anonim Sirketi
Historical stock prices
Current Share Price	₺12.47
52 Week High	₺16.99
52 Week Low	₺9.35
Beta	0.67
1 Month Change	25.71%
3 Month Change	13.47%
1 Year Change	-5.75%
3 Year Change	242.11%
5 Year Change	456.45%
Change since IPO	644.92%

Shareholder Returns

	FONET	TR Healthcare Services	TR Market
7D	-13.7%	1.1%	-4.5%
1Y	-5.7%	-47.0%	54.7%

Return vs Industry: FONET exceeded the TR Healthcare Services industry which returned -47% over the past year.

Return vs Market: FONET underperformed the TR Market which returned 54.7% over the past year.

Price Volatility

Is FONET's price volatile compared to industry and market?
FONET volatility
FONET Average Weekly Movement	9.1%
Healthcare Services Industry Average Movement	6.7%
Market Average Movement	6.1%
10% most volatile stocks in TR Market	8.7%
10% least volatile stocks in TR Market	4.2%

Stable Share Price: FONET is more volatile than 90% of TR stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: FONET's weekly volatility (9%) has been stable over the past year, but is still higher than 75% of TR stocks.

About the Company

Founded	Employees	CEO	Website
1997	147	Mehmet GAZEN	https://www.fonetbt.com

Fonet Bilgi Teknolojileri Anonim Sirketi engages in information technology (IT) services in the health sector in Turkey. The company offers turnkey services in healthcare IT field, which are related to information management system, system integration, and consultancy services. It also provides software management software, which includes Hospital Information Management Systems; Laboratory Information Systems; Picture Archiving and Communication System; Hospital To Hospital; and Operational Business Intelligence.

Fonet Bilgi Teknolojileri Anonim Sirketi Fundamentals Summary

How do Fonet Bilgi Teknolojileri Anonim Sirketi's earnings and revenue compare to its market cap?
FONET fundamental statistics
Market Cap	₺509.20m
Earnings (TTM)	₺38.22m
Revenue (TTM)	₺90.47m

13.0x

P/E Ratio

5.5x

P/S Ratio

Is FONET overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
FONET income statement (TTM)
Revenue	₺90.47m
Cost of Revenue	₺45.63m
Gross Profit	₺44.84m
Other Expenses	₺6.61m
Earnings	₺38.22m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	0.96
Gross Margin	49.56%
Net Profit Margin	42.25%
Debt/Equity Ratio	1.0%

How did FONET perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

2/6

Valuation Score 2/6

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 FONET?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for FONET. This is calculated by dividing FONET's market cap by their current preferred multiple.
What is FONET's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	₺509.20m

FONET 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	5.5x
Enterprise Value/EBITDA	12.7x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

FONET PE Ratio vs Peers

The above table shows the PE ratio for FONET vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	31.8x
LKMNH Lokman Hekim Engürüsag Saglik Turizm Egitim Hizmetleri ve Insaat Taahhüt	7x	n/a	₺588.2m
SEYKM Seyitler Kimya Sanayi	8.8x	n/a	₺277.6m
AVHOL Avrupa Yatirim Holding	36.2x	n/a	₺283.8m
EGEPO Nasmed Özel Saglik Hizmetleri Ticaret Anonim Sirketi	75.5x	n/a	₺1.3b
FONET Fonet Bilgi Teknolojileri Anonim Sirketi	13x	n/a	₺509.2m

Forward PE

Price-To-Earnings vs Peers: FONET is good value based on its Price-To-Earnings Ratio (13x) compared to the peer average (31.8x).

Price to Earnings Ratio vs Industry

How does FONET's PE Ratio compare vs other companies in the Asian Healthcare Services Industry?

Price-To-Earnings vs Industry: FONET is good value based on its Price-To-Earnings Ratio (13x) compared to the Asian Healthcare Services industry average (35.7x)

Price to Earnings Ratio vs Fair Ratio

What is FONET'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.

FONET PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	13x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate FONET's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

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

Below Fair Value: FONET (TRY12.47) is trading above our estimate of fair value (TRY2.44)

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

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate FONET's PEG Ratio to determine if it is good value.

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Future Growth

How is Fonet Bilgi Teknolojileri Anonim Sirketi forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

19.4%

Forecasted Healthcare industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Fonet Bilgi Teknolojileri Anonim Sirketi has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Discover growth companies

Examine Fonet Bilgi Teknolojileri Anonim Sirketi's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.

Past Performance

How has Fonet Bilgi Teknolojileri Anonim Sirketi performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

42.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: FONET has a high level of non-cash earnings.

Growing Profit Margin: FONET's current net profit margins (42.3%) are lower than last year (44.9%).

Past Earnings Growth Analysis

Earnings Trend: FONET's earnings have grown significantly by 42.5% per year over the past 5 years.

Accelerating Growth: FONET's earnings growth over the past year (24.4%) is below its 5-year average (42.5% per year).

Earnings vs Industry: FONET earnings growth over the past year (24.4%) exceeded the Healthcare Services industry 13%.

Return on Equity

High ROE: FONET's Return on Equity (27.2%) is considered high.

Discover strong past performing companies

Financial Health

How is Fonet Bilgi Teknolojileri Anonim Sirketi's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: FONET's short term assets (TRY60.4M) exceed its short term liabilities (TRY25.3M).

Long Term Liabilities: FONET's short term assets (TRY60.4M) exceed its long term liabilities (TRY40.7M).

Debt to Equity History and Analysis

Debt Level: FONET has more cash than its total debt.

Reducing Debt: FONET's debt to equity ratio has reduced from 34.5% to 1% over the past 5 years.

Debt Coverage: FONET's debt is well covered by operating cash flow (2714.3%).

Interest Coverage: FONET earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

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Dividend

What is Fonet Bilgi Teknolojileri Anonim Sirketi current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate FONET's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate FONET's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if FONET's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if FONET's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as FONET has not reported any payouts.

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Management

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

CEO

Mehmet GAZEN

no data

Tenure

Mehmet Gazen is a Founder of Fonet Bilgi Teknolojileri Anonim Sirketi (formerly known as Fonet Bilgi Teknolojileri A.S.) and serves as its General Manager.

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.

Data	Last Updated (UTC time)
Company Analysis	2022/07/01 00:00
End of Day Share Price	2022/07/01 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31