Selçuk Ecza Deposu Ticaret ve Sanayi (IBSE:SELEC) - Share price, News & Analysis

SELEC fundamental analysis
Snowflake Score
Valuation	6/6
Future Growth	5/6
Past Performance	4/6
Financial Health	6/6
Dividends	3/6

SELEC Stock Overview

Selçuk Ecza Deposu Ticaret ve Sanayi A.S.

Rewards

Trading at 27.5% below our estimate of its fair value

Earnings are forecast to grow 30.48% per year

Earnings have grown 25.3% per year over the past 5 years

Risk Analysis

High level of non-cash earnings

Dividend of 1.14% is not well covered by earnings

Selçuk Ecza Deposu Ticaret ve Sanayi Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Selçuk Ecza Deposu Ticaret ve Sanayi
Historical stock prices
Current Share Price	₺14.97
52 Week High	₺16.12
52 Week Low	₺7.85
Beta	0.36
1 Month Change	14.36%
3 Month Change	24.96%
1 Year Change	68.20%
3 Year Change	206.76%
5 Year Change	265.12%
Change since IPO	442.94%

Shareholder Returns

	SELEC	TR Healthcare	TR Market
7D	2.2%	1.9%	1.3%
1Y	68.2%	-27.5%	61.2%

Return vs Industry: SELEC exceeded the TR Healthcare industry which returned -27.5% over the past year.

Return vs Market: SELEC exceeded the TR Market which returned 61.2% over the past year.

Price Volatility

Is SELEC's price volatile compared to industry and market?
SELEC volatility
SELEC Average Weekly Movement	5.6%
Healthcare Industry Average Movement	5.3%
Market Average Movement	5.9%
10% most volatile stocks in TR Market	8.7%
10% least volatile stocks in TR Market	4.1%

Stable Share Price: SELEC is not significantly more volatile than the rest of TR stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: SELEC's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1958	6,598	n/a	https://www.selcukecza.com.tr

Selçuk Ecza Deposu Ticaret ve Sanayi A.S. operates as a distribution channel between pharmaceutical manufacturers, hospitals, and pharmacies. It also operates a pharmaceutical warehouse. The company was founded in 1958 and is headquartered in Istanbul, Turkey.

Selçuk Ecza Deposu Ticaret ve Sanayi Fundamentals Summary

How do Selçuk Ecza Deposu Ticaret ve Sanayi's earnings and revenue compare to its market cap?
SELEC fundamental statistics
Market Cap	₺9.30b
Earnings (TTM)	₺1.19b
Revenue (TTM)	₺28.99b

7.8x

P/E Ratio

0.3x

P/S Ratio

Is SELEC overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
SELEC income statement (TTM)
Revenue	₺28.99b
Cost of Revenue	₺26.33b
Gross Profit	₺2.66b
Other Expenses	₺1.47b
Earnings	₺1.19b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	1.91
Gross Margin	9.17%
Net Profit Margin	4.10%
Debt/Equity Ratio	3.2%

How did SELEC perform over the long term?

See historical performance and comparison

Dividends

1.1%

Current Dividend Yield

9%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

6/6

Valuation Score 6/6

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 SELEC?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for SELEC. This is calculated by dividing SELEC's market cap by their current preferred multiple.
What is SELEC's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	₺9.30b

SELEC 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	0.3x
Enterprise Value/EBITDA	5.8x
PEG Ratio	0.3x

Price to Earnings Ratio vs Peers

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

SELEC PE Ratio vs Peers

The above table shows the PE ratio for SELEC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	28.8x

Forward PE

Price-To-Earnings vs Peers: SELEC is good value based on its Price-To-Earnings Ratio (7.8x) compared to the peer average (28.8x).

Price to Earnings Ratio vs Industry

How does SELEC's PE Ratio compare vs other companies in the Healthcare Industry?

Price-To-Earnings vs Industry: SELEC is good value based on its Price-To-Earnings Ratio (7.8x) compared to the TR Healthcare industry average (17.9x)

Price to Earnings Ratio vs Fair Ratio

What is SELEC'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.

SELEC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	7.8x
Fair PE Ratio	15x

Price-To-Earnings vs Fair Ratio: SELEC is good value based on its Price-To-Earnings Ratio (7.8x) compared to the estimated Fair Price-To-Earnings Ratio (15x).

Share Price vs Fair Value

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

Below Fair Value: SELEC (TRY14.97) is trading below our estimate of fair value (TRY20.66)

Significantly Below Fair Value: SELEC is trading below fair value by more than 20%.

Price to Earnings Growth Ratio

PEG Ratio: SELEC is good value based on its PEG Ratio (0.3x)

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Future Growth

How is Selçuk Ecza Deposu Ticaret ve Sanayi forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

5/6

Future Growth Score 5/6

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

30.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: SELEC's forecast earnings growth (30.5% per year) is above the savings rate (9%).

Earnings vs Market: SELEC's earnings (30.5% per year) are forecast to grow faster than the TR market (16.1% per year).

High Growth Earnings: SELEC's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: SELEC's revenue (36.9% per year) is forecast to grow faster than the TR market (13.8% per year).

High Growth Revenue: SELEC's revenue (36.9% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if SELEC's Return on Equity is forecast to be high in 3 years time

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Past Performance

How has Selçuk Ecza Deposu Ticaret ve Sanayi performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

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

25.3%

Historical annual earnings growth

Earnings and Revenue History

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

Growing Profit Margin: SELEC's current net profit margins (4.1%) are higher than last year (2.9%).

Past Earnings Growth Analysis

Earnings Trend: SELEC's earnings have grown significantly by 25.3% per year over the past 5 years.

Accelerating Growth: SELEC's earnings growth over the past year (90.5%) exceeds its 5-year average (25.3% per year).

Earnings vs Industry: SELEC earnings growth over the past year (90.5%) underperformed the Healthcare industry 169.5%.

Return on Equity

High ROE: SELEC's Return on Equity (24.2%) is considered high.

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Financial Health

How is Selçuk Ecza Deposu Ticaret ve Sanayi'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: SELEC's short term assets (TRY13.3B) exceed its short term liabilities (TRY9.3B).

Long Term Liabilities: SELEC's short term assets (TRY13.3B) exceed its long term liabilities (TRY213.5M).

Debt to Equity History and Analysis

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

Reducing Debt: SELEC's debt to equity ratio has reduced from 3.8% to 3.2% over the past 5 years.

Debt Coverage: SELEC's debt is well covered by operating cash flow (48.5%).

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

Balance Sheet

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Dividend

What is Selçuk Ecza Deposu Ticaret ve Sanayi current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

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

1.14%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: SELEC's dividend (1.14%) is higher than the bottom 25% of dividend payers in the TR market (0.7%).

High Dividend: SELEC's dividend (1.14%) is low compared to the top 25% of dividend payers in the TR market (3.57%).

Stability and Growth of Payments

Stable Dividend: SELEC's dividend payments have been volatile in the past 10 years.

Growing Dividend: SELEC's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (8.9%), SELEC's dividend payments are thoroughly covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: SELEC is paying a dividend but the company has no free cash flows.

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Management

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

1.4yrs

Average board tenure

CEO

Selçuk Ecza Deposu Ticaret ve Sanayi has no CEO, or we have no data on them.

Board Members

Experienced Board: SELEC's board of directors are not considered experienced ( 1.4 years average tenure), which suggests a new board.

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	2022/06/26 00:00
End of Day Share Price	2022/06/24 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31