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Nigbas Nigde Beton Sanayi Ve Ticaret A.S. (NIBAS) Fair Value & Analysis

Industrials · TR · Market cap 1.2B TRY

NN Nigbas Nigde Beton Sanayi Ve Ticaret A.S. NIBAS · IS
Price3.80 TRY
Fair Value2.87 TRY
Upside-24.5%
Quality26/100
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Expensive Growth
Thin margins · 0.0% net margin
Low debt · negative free cash flow
Mixed vs. peers (5/11)
Narrow moat 10/100
Evidence: Medium Range 1.91 TRY – 3.82 TRY Share as image

Fair value as of: Aug 13, 2026

From 8 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from 2.85 TRY to 2.87 TRY (+0.7%) since Aug 1, 2026. Share price −10.8% over the past month.

Below-average quality, and screening another 24% overvalued on our models.

What matters now

  • Weak quality (26/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (1.91 TRY to 3.82 TRY) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

11.25 TRY 1.11 TRY Fair Value 2.87 TRY Apr 2021 Jul 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 1.11 TRY – 11.25 TRY · fair‑value band 1.91 TRY – 3.82 TRY · the 3.80 TRY price screens above the 2.87 TRY fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Nigbas Nigde Beton Sanayi Ve Ticaret A.S. (NIBAS) currently trades at 3.80 TRY, while our model-based Fair Value estimate is 2.87 TRY, implying the stock looks roughly 24.5% overvalued today. The Quality Score stands at 26/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Trailing-twelve-month revenue stands at 113M TRY. Revenue grew 71.7% year over year. It earns a return on equity of -72.5%. Fundamentals as of Aug 13, 2026

Our scenario range runs from 1.91 TRY (bear case) to 3.82 TRY (bull case); at 3.80 TRY, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 67% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -34% fair-value upside, at -24%, NIBAS screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
ROIC Compounder 2.09 TRY 2.09 TRY 2.09 TRY 72
Gordon GGM 0.2609 TRY 0.5218 TRY 0.7827 TRY 70
DDM Multi-Stage 0.2609 TRY 0.5218 TRY 0.5218 TRY 61
All 8 models by family
Earnings-Based
EPV 2.09 TRY 2.09 TRY 2.09 TRY 59
Dividend Discount
Gordon GGM 0.2609 TRY 0.5218 TRY 0.7827 TRY 70
DDM Multi-Stage 0.2609 TRY 0.5218 TRY 0.5218 TRY 61
Multiples
EV/EBIT 2.61 TRY 2.87 TRY 3.39 TRY 53
EV/EBITDA 7.31 TRY 9.39 TRY 11.48 TRY 54
EV/Revenue 2.09 TRY 2.61 TRY 2.87 TRY 43
Asset-Based
NCAV (Graham) 16.70 TRY 22.44 TRY 33.40 TRY 50
Economic Profit
ROIC Compounder 2.09 TRY 2.09 TRY 2.09 TRY 72

Widest divergence: Asset-Based (22.44 TRY) versus Dividend Discount (0.5218 TRY). Highest evidence: ROIC Compounder (72).

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Key figures & financial health

Revenue (TTM) 113M TRY
Revenue growth (YoY) +71.7%
Return on equity -72.5%
Free cash flow −136M TRY FY2025
Operating margin -11.6%
EPS (TTM) -1.26 TRY
More key figures
EPS growth (YoY) +164%
Net debt 625K TRY FY2024

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 26/100

Of which business quality 30 · Market factors (momentum, volatility) 24

Profitability 4
Margins and returns on capital today
Quality Growth 76
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 3
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 3
Distance to the 52-week high (market factor)
Net Issuance 40
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Nigbas Nigde Beton Sanayi Ve Ticaret A.S. engages in the production and sale of prefabricated concrete products, concrete poles, and reinforced concrete structural elements in Turkey. The company offers precast elements for building applications; and construction chemicals.

Full company description

Nigbas Nigde Beton Sanayi Ve Ticaret A.S. engages in the production and sale of prefabricated concrete products, concrete poles, and reinforced concrete structural elements in Turkey. The company offers precast elements for building applications; and construction chemicals. It also provides granite, marble, ceramic, tile, brick, polystyrene insulation board, adhesive mortars, joint filler mortars, aerated concrete and bricklaying mortars, ready-made plaster, insulation plaster, and concrete repair mortars; single and double-component waterproofing materials; and aerated concrete, insulation plaster, and hydraulic liming-based construction chemicals. Nigbas Nigde Beton Sanayi Ve Ticaret A.S. was incorporated in 1969 and is based in Nigde, Turkey.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Nigbas Nigde Beton Sanayi Ve Ticaret A.S. reported revenue of 105M TRY in FY2025 versus 44.8M TRY in FY2021, a compound +23.7%/yr. Reported net income was −400M TRY in FY2025.

Growth Quality 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
105M TRY
Latest YoY
+18.3%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+18.8%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+31.5%
Avg. growth/yr (16Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+14.3%
Revenue +23.7%/yr
FY21 44.8M TRY
FY22 62.6M TRY
FY23 81.4M TRY
FY24 88.7M TRY
FY25 105M TRY
Net income
FY21 29.6M TRY
FY22 93.1M TRY
FY23 51.5M TRY
FY24 −25.1M TRY
FY25 −400M TRY

NIBAS screens 24% overvalued. Compare with Larsen & Toubro Limited →

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Cite: Fair Value Calculator (2026). "Nigbas Nigde Beton Sanayi Ve Ticaret A.S. Fair Value". https://www.fairvalue-calculator.com/stock/NIBAS

Peer Group

Engineering & Construction · 837 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 26 · Bottom 25%
Fair Value upside −25% · Below median
Return on assets 0% · Below median
Net margin (TTM) 0% · Below median
Operating margin (TTM) -12% · Bottom 25%
Revenue growth 72% · Top 25%

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/B 0.06× · Cheaper than 75% of peers
P/S (TTM) 0.22× · Cheaper than median
EV/EBITDA 1.3× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 1 · sector 14
FUTURE 100 · sector 15
PAST 0 · sector 26
HEALTH 100 · sector 94
DIVIDEND 0 · sector 33

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹4,020 ₹1,994 -50%
Samsung C&T Corporation 028260 357,500 KRW 261,411 KRW -27%
Hyundai Engineering & Construction Co 000720 113,700 KRW 61,453 KRW -46%
Samsung E&A Co 028050 49,300 KRW 43,624 KRW -12%
Rail Vikas Nigam Limited RVNL ₹230.00 ₹48.92 -79%
Daewoo Engineering & Construction Co 047040 18,400 KRW 6,507 KRW -65%
KEPCO Engineering & Construction Company 052690 99,800 KRW 19,346 KRW -81%
GS Engineering & Construction Corporation 006360 35,200 KRW 23,135 KRW -34%
DL E&C Co 375500 73,500 KRW 148,433 KRW +102%
KEPCO Plant Service & Engineering Co 051600 45,400 KRW 43,924 KRW -3%

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Frequently asked questions

Is Nigbas Nigde Beton Sanayi Ve Ticaret A.S. (NIBAS) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 2.87 TRY versus a price of 3.80 TRY, about −24% (overvalued).
What is the fair value of NIBAS?
Our model-based fair value for Nigbas Nigde Beton Sanayi Ve Ticaret A.S. is 2.87 TRY (as of Aug 13, 2026), built from audited fundamentals. The current price is 3.80 TRY.
What is the quality score of NIBAS?
Nigbas Nigde Beton Sanayi Ve Ticaret A.S. has a Quality Score of 26/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Nigbas Nigde Beton Sanayi Ve Ticaret A.S. (NIBAS)?
Nigbas Nigde Beton Sanayi Ve Ticaret A.S. reported trailing-twelve-month revenue of about 113M TRY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of NIBAS?
The net profit margin of Nigbas Nigde Beton Sanayi Ve Ticaret A.S. is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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