Ziraat Gayrimenkul Yatirim Ortakligi Valuation

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

ZRGYO (TRY12.55) is trading above our estimate of [[fair value]] (TRY8.75)

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

Valuation Score

0/6

Valuation Score 0/6

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

Below Fair Value: ZRGYO (TRY12.55) is trading above our estimate of fair value (TRY8.75)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ZRGYO. This is calculated by dividing ZRGYO's market cap by their current earnings.
What is ZRGYO's PE Ratio?
PE Ratio	21.2x
Earnings	₺2.78b
Market Cap	₺58.90b

ZRGYO 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	34.4x
Enterprise Value/EBITDA	62.5x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ZRGYO 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	6.7x
TRGYO Torunlar Gayrimenkul Yatirim Ortakligi	9.3x	64.4%	₺57.7b
ISGYO Is Gayrimenkul Yatirim Ortakligi	10.2x	n/a	₺18.6b
AKSGY Akis Gayrimenkul Yatirim Ortakligi	5.5x	n/a	₺17.1b
AVPGY Avrupakent Gayrimenkul Yatirim Ortakligi Anonim Sirketi	1.9x	n/a	₺22.9b
ZRGYO Ziraat Gayrimenkul Yatirim Ortakligi	21.2x	n/a	₺58.9b

Price-To-Earnings vs Peers: ZRGYO is expensive based on its Price-To-Earnings Ratio (21.2x) compared to the peer average (6.7x).

Price to Earnings Ratio vs Industry

How does ZRGYO's PE Ratio compare vs other companies in the TR REITs Industry?

1 Company	Price / Earnings	Estimated Growth	Market Cap
YGYO Yesil Gayrimenkul Yatirim Ortakligi	0.9x	n/a	US$60.97m

No more companies available in this PE range

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: ZRGYO is expensive based on its Price-To-Earnings Ratio (21.2x) compared to the TR REITs industry average (4.2x).

Price to Earnings Ratio vs Fair Ratio

What is ZRGYO'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.

ZRGYO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	21.2x
Fair PE Ratio	n/a

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