TBORG.E (Turk Tuborg Bira ve Malt Sanayii AS) vs BIST 100 Comparison

TBORG.E

BIST 100

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TBORG.E

BIST 100

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TBORG.E

BIST 100

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BIST 100

TBORG.E

ABI

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HEIA

ABEV3

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Turk Tuborg Bira ve Malt Sanayii AS
Glance View

Market Cap

45.1B TRY

Industry

Beverages

In the bustling world of brewing, Turk Tuborg Bira ve Malt Sanayii AS stands out as a stalwart in Turkey's beverage industry, known for its resilience and innovation. Founded in the late 20th century through the collaboration of Danish brewing giants and Turkish entrepreneurs, the company carved a niche for itself by focusing on crafting high-quality beer and malt products tailored to regional tastes and preferences. By embracing Danish brewing expertise and combining it with local resources, Turk Tuborg emerged as a significant player in the domestic beer market. Its portfolio is rich with diverse offerings, from traditional lagers to unique brews that invoke Turkish flavors, ensuring a robust appeal across different consumer demographics. Turk Tuborg generates revenue primarily through the production and sale of its broad range of alcoholic and non-alcoholic beverages. Leveraging its state-of-the-art facilities and advanced brewing techniques, the company efficiently caters to both local and international markets. Its success is driven by strategic marketing and distribution channels, robust relations with retailers and distributors, as well as a keen understanding of consumer trends and demand. By continuously innovating its product lines and expanding its market reach, Turk Tuborg not only sustains its competitive edge but also contributes to the vibrant Turkish economy as a leading beverage producer.

View TBORG.E Analysis

TBORG.E Intrinsic Value

What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

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BE	Anheuser Busch Inbev SA XETRA:1NBA	Add
NL	Heineken NV AEX:HEIA	Add
BR	Ambev SA BOVESPA:ABEV3	Add
NL	Heineken Holding NV AEX:HEIO	Add
JP	Asahi Group Holdings Ltd TSE:2502	Add
CN	Tsingtao Brewery Co Ltd SSE:600600	Add
CA	Molson Coors Canada Inc OTC:MXGBF	Add
DK	Carlsberg A/S CSE:CARL B	Add
HK	Budweiser Brewing Company APAC Ltd HKEX:1876	Add

BE	Anheuser-Busch Inbev SA MIL:ABI	Select
BE	Anheuser Busch Inbev SA XETRA:1NBA	Select
NL	Heineken NV AEX:HEIA	Select
BR	Ambev SA BOVESPA:ABEV3	Select
NL	Heineken Holding NV AEX:HEIO	Select
JP	Asahi Group Holdings Ltd TSE:2502	Select
CN	Tsingtao Brewery Co Ltd SSE:600600	Select
CA	Molson Coors Canada Inc OTC:MXGBF	Select
DK	Carlsberg A/S CSE:CARL B	Select
HK	Budweiser Brewing Company APAC Ltd HKEX:1876	Select

BE	Anheuser-Busch Inbev SA MIL:ABI	Add
BE	Anheuser Busch Inbev SA XETRA:1NBA	Add
NL	Heineken NV AEX:HEIA	Add
BR	Ambev SA BOVESPA:ABEV3	Add
NL	Heineken Holding NV AEX:HEIO	Add
JP	Asahi Group Holdings Ltd TSE:2502	Add
CN	Tsingtao Brewery Co Ltd SSE:600600	Add
CA	Molson Coors Canada Inc OTC:MXGBF	Add
DK	Carlsberg A/S CSE:CARL B	Add
HK	Budweiser Brewing Company APAC Ltd HKEX:1876	Add

MX	M	Mexico S&P/BMV IPC INDX:MXX	Add
PK	K	Karachi 100 INDX:KSE100	Add
SA	T	Tadawul All Share INDX:TASI	Add
TH	S	SET Index INDX:SET	Add
ID	J	Jakarta Composite Index INDX:JKSE	Add
GR	A	Athens General Composite INDX:ATG	Add
BR	B	BOVESPA INDX:BVSP	Add
AR	S	S&P Merval INDX:MERV	Add
CZ	P	PX Prague Stock Index INDX:PX	Add
RU	M	MOEX Russia INDX:IMOEX	Add

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TBORG.E

vs

BIST 100

Stocks Performance
TBORG.E vs BIST 100

Performance Gap
TBORG.E vs BIST 100

Performance By Year
TBORG.E vs BIST 100

Competitors Performance
Turk Tuborg Bira ve Malt Sanayii AS vs Peers

Turk Tuborg Bira ve Malt Sanayii AS
Glance View

Company

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TBORG.E vs BIST 100

Stocks Performance TBORG.E vs BIST 100

Performance Gap TBORG.E vs BIST 100

Performance By Year TBORG.E vs BIST 100

Competitors Performance Turk Tuborg Bira ve Malt Sanayii AS vs Peers

Turk Tuborg Bira ve Malt Sanayii AS Glance View

Company

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Stocks

TBORG.E

vs

BIST 100

Stocks Performance
TBORG.E vs BIST 100

Performance Gap
TBORG.E vs BIST 100

Performance By Year
TBORG.E vs BIST 100

Competitors Performance
Turk Tuborg Bira ve Malt Sanayii AS vs Peers

Turk Tuborg Bira ve Malt Sanayii AS
Glance View