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Emlak Konut Gayrimenkul Yatirim Ortakligi AS (IST:EKGYO) Graham Number : ₺N/A (As of Dec. 2023)


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What is Emlak Konut Gayrimenkul Yatirim Ortakligi AS Graham Number?

Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.

As of today (2024-06-01), the stock price of Emlak Konut Gayrimenkul Yatirim Ortakligi AS is ₺8.85. Emlak Konut Gayrimenkul Yatirim Ortakligi AS's graham number for the quarter that ended in Dec. 2023 was ₺N/A. Therefore, Emlak Konut Gayrimenkul Yatirim Ortakligi AS's Price to Graham Number ratio for today is N/A.

The historical rank and industry rank for Emlak Konut Gayrimenkul Yatirim Ortakligi AS's Graham Number or its related term are showing as below:

During the past 13 years, the highest Price to Graham Number ratio of Emlak Konut Gayrimenkul Yatirim Ortakligi AS was 0.81. The lowest was 0.29. And the median was 0.51.

IST:EKGYO's Price-to-Graham-Number is not ranked *
in the REITs industry.
Industry Median: 0.79
* Ranked among companies with meaningful Price-to-Graham-Number only.

Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.


Emlak Konut Gayrimenkul Yatirim Ortakligi AS Graham Number Historical Data

The historical data trend for Emlak Konut Gayrimenkul Yatirim Ortakligi AS's Graham Number can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Emlak Konut Gayrimenkul Yatirim Ortakligi AS Graham Number Chart

Emlak Konut Gayrimenkul Yatirim Ortakligi AS Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Graham Number
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.06 4.09 6.06 - -

Emlak Konut Gayrimenkul Yatirim Ortakligi AS Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Graham Number Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - 3.01 5.39 -

Competitive Comparison of Emlak Konut Gayrimenkul Yatirim Ortakligi AS's Graham Number

For the REIT - Residential subindustry, Emlak Konut Gayrimenkul Yatirim Ortakligi AS's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Emlak Konut Gayrimenkul Yatirim Ortakligi AS's Price-to-Graham-Number Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Emlak Konut Gayrimenkul Yatirim Ortakligi AS's Price-to-Graham-Number distribution charts can be found below:

* The bar in red indicates where Emlak Konut Gayrimenkul Yatirim Ortakligi AS's Price-to-Graham-Number falls into.



Emlak Konut Gayrimenkul Yatirim Ortakligi AS Graham Number Calculation

Graham Number is a concept based on Ben Graham's conservative valuation of companies.

Emlak Konut Gayrimenkul Yatirim Ortakligi AS's Graham Number for the fiscal year that ended in Dec. 2023 is calculated as

Graham Number
=sqrt of (22.5* Tangible Book per Share *EPS without NRI)
=sqrt of (22.5*15.567*-0.496)
=N/A

Emlak Konut Gayrimenkul Yatirim Ortakligi AS's Graham Number for the quarter that ended in Dec. 2023 is calculated as

Graham Number
=sqrt of (22.5*Tangible Book per Share*EPS without NRI (TTM))
=sqrt of (22.5*15.567*-0.582)
=N/A

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Emlak Konut Gayrimenkul Yatirim Ortakligi AS  (IST:EKGYO) Graham Number Explanation

Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:

Current price should not be more than 15 times average earnings of the past three years.

Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)

Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.

In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.

Emlak Konut Gayrimenkul Yatirim Ortakligi AS's Price to Graham number Ratio for today is calculated as

Price to Graham number=Share Price (Today)/Graham number (Q: Dec. 2023 )
=8.85/N/A
=N/A

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Be Aware

Please keep these in mind:

1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.


Emlak Konut Gayrimenkul Yatirim Ortakligi AS Graham Number Related Terms

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Emlak Konut Gayrimenkul Yatirim Ortakligi AS (IST:EKGYO) Business Description

Traded in Other Exchanges
N/A
Address
Barbaros Mahallesi, Mor Sumbul Sokak No :7/2 B, Atasehir, Istanbul, TUR
Emlak Konut Gayrimenkul Yatirim Ortakligi AS, or Emlak Konut REIT, is a Turkish real estate investment trust of which the main shareholder is the Turkish government through the Housing Development Administration of Turkey. The company is primarily engaged in the development and leasing of housing units in urban areas throughout Turkey. Emlak Konut primarily focuses on purchasing and developing real estate projects, such as apartments and townhomes, aimed at middle and upper-middle-class income groups. The vast majority of the company's total revenue is derived from revenue sharing projects in which property income is shared between multiple contractors. Most of the leases that Emlak Konut receives rental revenue from are short- to medium-term leases.

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