Vakif Gayrimenkul Yatirim Ortakligi Valuation

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

VKGYO (TRY2.07) is trading above our estimate of [[fair value]] (TRY0.09)

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

Below Fair Value: VKGYO (TRY2.07) is trading above our estimate of fair value (TRY0.09)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for VKGYO. This is calculated by dividing VKGYO's market cap by their current earnings.
What is VKGYO's PE Ratio?
PE Ratio	1x
Earnings	₺7.39b
Market Cap	₺6.87b

VKGYO 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	5.6x
Enterprise Value/EBITDA	-1.9x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for VKGYO 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	6.4x
MHRGY MHR Gayrimenkul Yatirim Ortakligi Anonim Sirketi	8.4x	n/a	₺3.9b
HLGYO Halk Gayrimenkul Yatirim Ortakligi	13x	n/a	₺8.9b
PSGYO Pasifik Gayrimenkul Yatirim Ortakligi	2.8x	n/a	₺7.1b
ASGYO Asce Gayrimenkul Yatirim Ortakligi	1.5x	n/a	₺7.4b
VKGYO Vakif Gayrimenkul Yatirim Ortakligi	1x	n/a	₺6.9b

Price-To-Earnings vs Peers: VKGYO is good value based on its Price-To-Earnings Ratio (1x) compared to the peer average (6.4x).

Price to Earnings Ratio vs Industry

How does VKGYO's PE Ratio compare vs other companies in the Asian Office REITs Industry?

2 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	16.9x	6.2%
VKGYO Vakif Gayrimenkul Yatirim Ortakligi	1x	n/a	US$199.18m

2 Companies		Estimated Growth	Market Cap
Industry Avg.	16.9x	6.2%
VKGYO Vakif Gayrimenkul Yatirim Ortakligi	1x	n/a	US$199.18m

No more companies

Price-To-Earnings vs Industry: VKGYO is good value based on its Price-To-Earnings Ratio (1x) compared to the Asian Office REITs industry average (16.9x).

Price to Earnings Ratio vs Fair Ratio

What is VKGYO'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.

VKGYO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	1x
Fair PE Ratio	n/a

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