Netas Telekomunikasyon AS (IST:NETAS) Cyclically Adjusted Price-to-FCF: 45.93 (As of Jul. 31, 2026) — 32% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

IST:NETAS Netas Telekomunikasyon AS IST:NETAS
47 GF Score
Price ₺61.55
GF Value ₺101.81
Valuation Possible Value Trap
! 4 Warning Signs
View Full Analysis

What is Netas Telekomunikasyon AS Cyclically Adjusted Price-to-FCF?

Netas Telekomunikasyon AS IST:NETAS -1.83% 47 Cyclically Adjusted Price-to-FCF is 45.93 as of Jul. 31, 2026, which is 32% below its 10-year median of 67.80. GuruFocus rates IST:NETAS with a GF Score™ of 47/100 and a GF Value™ of ₺101.81 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 1,052 Hardware companies, Netas Telekomunikasyon AS ranks worse than 61.88% on this metric.

As of today (2026-07-31), Netas Telekomunikasyon AS's current share price is ₺61.55. Netas Telekomunikasyon AS's Cyclically Adjusted FCF per Share for the quarter that ended in Dec. 2025 was ₺1.34. Netas Telekomunikasyon AS's Cyclically Adjusted Price-to-FCF for today is 45.93.

The historical rank and industry rank for Netas Telekomunikasyon AS's Cyclically Adjusted Price-to-FCF or its related term are showing as below:

IST:NETAS' s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 32.03   Med: 67.8   Max: 3550
Current: 46.92

During the past years, Netas Telekomunikasyon AS's highest Cyclically Adjusted Price-to-FCF was 3550.00. The lowest was 32.03. And the median was 67.80.

IST:NETAS's Cyclically Adjusted Price-to-FCF is ranked worse than
61.88% of 1052 companies
in the Hardware industry
Industry Median: 31.865 vs IST:NETAS: 46.92

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

Netas Telekomunikasyon AS's adjusted free cash flow per share data for the three months ended in Dec. 2025 was ₺3.101. Add all the adjusted free cash flow per share for the past 10 years together and divide 10 will get our Cyclically Adjusted FCF per Share, which is ₺1.34 for the trailing ten years ended in Dec. 2025.

Shiller PE for Stocks: The True Measure of Stock Valuation


Netas Telekomunikasyon AS  (IST:NETAS) Cyclically Adjusted Price-to-FCF Explanation

Compared with the regular Price-to-Free-Cash-Flow, which works poorly for cyclical businesses, the Cyclically Adjusted Price-to-FCF smoothed out the fluctuations of free cash flow during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted Price-to-FCF should give similar results to regular Price-to-Free-Cash-Flow.


Netas Telekomunikasyon AS Cyclically Adjusted Price-to-FCF Related Terms


Netas Telekomunikasyon AS Cyclically Adjusted Price-to-FCF Historical Data

* Premium members only.

The historical data trend for Netas Telekomunikasyon AS's Cyclically Adjusted Price-to-FCF 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.

Netas Telekomunikasyon AS Cyclically Adjusted Price-to-FCF Chart

Netas Telekomunikasyon AS Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted Price-to-FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 49.68 41.89 42.47

Netas Telekomunikasyon AS Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
Cyclically Adjusted Price-to-FCF 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 41.89 48.03 39.85 58.01 42.47

IST:NETAS vs CSCO, MSI, HPE: Cyclically Adjusted Price-to-FCF Comparison

For the Communication Equipment subindustry, Netas Telekomunikasyon AS's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF 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.


Netas Telekomunikasyon AS Cyclically Adjusted Price-to-FCF vs Hardware Industry

For the Hardware industry and Technology sector, Netas Telekomunikasyon AS's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where Netas Telekomunikasyon AS's Cyclically Adjusted Price-to-FCF falls into.


IST:NETAS
47GF Score
Netas Telekomunikasyon AS IST:NETAS
Cyclically Adjusted Price-to-FCF is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Netas Telekomunikasyon AS Cyclically Adjusted Price-to-FCF Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted Price-to-FCF takes the Free Cash Flow per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/FCF calculation. Because it considers this 10-year average, it's often referred to as the CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF.

Netas Telekomunikasyon AS's Cyclically Adjusted Price-to-FCF for today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/ Cyclically Adjusted FCF per Share
=61.55/1.34
=45.93

* 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.

Netas Telekomunikasyon AS's Cyclically Adjusted FCF per Share for the quarter that ended in Dec. 2025 is calculated as:

For example, Netas Telekomunikasyon AS's adjusted Free Cash Flow per Share data for the three months ended in Dec. 2025 was:

Adj_FreeCashFlowPerShare=Free Cash Flow per Share/CPI of Dec. 2025 (Change)*Current CPI (Dec. 2025)
=3.101/324.0540*324.0540
=3.101

Current CPI (Dec. 2025) = 324.0540.

Netas Telekomunikasyon AS Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201603 -2.066 238.132 -2.811
201606 1.349 241.018 1.814
201609 -1.454 241.428 -1.952
201612 0.979 241.432 1.314
201703 -0.894 243.801 -1.188
201706 0.991 244.955 1.311
201709 0.671 246.819 0.881
201712 1.311 246.524 1.723
201803 -1.966 249.554 -2.553
201806 -1.108 251.989 -1.425
201809 1.169 252.439 1.501
201812 0.541 251.233 0.698
201903 0.116 254.202 0.148
201906 -0.531 256.143 -0.672
201909 -1.203 256.759 -1.518
201912 2.763 256.974 3.484
202003 2.634 258.115 3.307
202006 -1.090 257.797 -1.370
202009 0.507 260.280 0.631
202012 1.690 260.474 2.103
202103 -4.379 264.877 -5.357
202106 -2.541 271.696 -3.031
202109 1.935 274.310 2.286
202112 1.411 278.802 1.640
202203 2.385 287.504 2.688
202206 0.068 296.311 0.074
202209 -2.864 296.808 -3.127
202212 -0.843 296.797 -0.920
202303 1.551 301.836 1.665
202306 4.641 305.109 4.929
202309 -1.528 307.789 -1.609
202312 1.896 306.746 2.003
202403 7.385 312.332 7.662
202406 -0.641 314.175 -0.661
202409 -3.029 315.301 -3.113
202412 4.248 315.605 4.362
202503 -5.123 319.799 -5.191
202506 1.295 322.561 1.301
202509 -0.755 324.800 -0.753
202512 3.101 324.054 3.101

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted Price-to-FCF of 45.93 mean?
Netas Telekomunikasyon AS (IST:NETAS) has a Cyclically Adjusted Price-to-FCF of 45.93 as of Jul. 31, 2026. Cyclically Adjusted Price-to-FCF Ratio is the ratio of share price to a company's inflation-adjusted FCF per share over a 10-year period. View historical data on Netas Telekomunikasyon AS and its competitors. This is 32% below median its historical median of 67.80. Over the past decade, Netas Telekomunikasyon AS's Cyclically Adjusted Price-to-FCF has ranged from 32.03 to 3,550.00. According to the industry distribution chart, Netas Telekomunikasyon AS ranks #651 out of 1052 companies in the Hardware industry, placing it in the top 61.9%.
Is Netas Telekomunikasyon AS's Cyclically Adjusted Price-to-FCF too high?
Netas Telekomunikasyon AS's current Cyclically Adjusted Price-to-FCF of 45.93 is 32% below median its 10-year median of 67.80. Over the past 10 years, this metric has ranged from a low of 32.03 to a high of 3,550.00. The Hardware industry median Cyclically Adjusted Price-to-FCF is 31.87. Netas Telekomunikasyon AS's value of 45.93 is 44.1% above this industry median. Based on the distribution chart, Netas Telekomunikasyon AS ranks #651 out of 1052 companies in the Hardware industry, which is below the industry midpoint. Overall, Netas Telekomunikasyon AS has a GF Score™ of 47/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Netas Telekomunikasyon AS's Cyclically Adjusted Price-to-FCF compare to CSCO and MSI?
According to the Hardware industry distribution chart, Netas Telekomunikasyon AS ranks #651 out of 1052 companies for Cyclically Adjusted Price-to-FCF. This places Netas Telekomunikasyon AS in the lower half of its industry. The industry median Cyclically Adjusted Price-to-FCF is 31.87. Netas Telekomunikasyon AS's value of 45.93 is 44.1% above this benchmark. Historically, Netas Telekomunikasyon AS's own Cyclically Adjusted Price-to-FCF has ranged from 32.03 to 3,550.00 over the past decade. While the company's 10-year median is 67.80 vs. the industry median of 31.87, Netas Telekomunikasyon AS has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted Price-to-FCF for a Hardware company?
The median Cyclically Adjusted Price-to-FCF among Hardware companies is 31.87, based on 1,052 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted Price-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted Price-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Netas Telekomunikasyon AS's current Cyclically Adjusted Price-to-FCF of 45.93 is 44.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted Price-to-FCF mean?
A high Cyclically Adjusted Price-to-FCF can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted Price-to-FCF Ratio is the ratio of share price to a company's inflation-adjusted FCF per share over a 10-year period. View historical data on Netas Telekomunikasyon AS and its competitors. For the Hardware industry, the median Cyclically Adjusted Price-to-FCF is 31.87 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Netas Telekomunikasyon AS's current Cyclically Adjusted Price-to-FCF is 45.93, which is 32% below median its own 10-year median of 67.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Netas Telekomunikasyon AS stock overvalued right now?
Based on GuruFocus' analysis, Netas Telekomunikasyon AS (IST:NETAS) is currently considered Possible Value Trap. The stock's GF Value™ is ₺101.81, compared to a current price of ₺61.55 — trading 39.5% below its estimated fair value. The current Cyclically Adjusted Price-to-FCF is 45.93, which is 32% below median its 10-year median of 67.80 and 44.1% above the Hardware industry median of 31.87. Netas Telekomunikasyon AS's overall GF Score™ is 47/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted Price-to-FCF calculated?
Cyclically Adjusted Price-to-FCF is calculated from a company's financial statements. For Netas Telekomunikasyon AS (IST:NETAS), the current Cyclically Adjusted Price-to-FCF is 45.93 as of Jul. 31, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Netas Telekomunikasyon AS (IST:NETAS) Overvalued in 2026?

Based on GuruFocus' analysis, Netas Telekomunikasyon AS stock appears to be undervalued. The current stock price of ₺61.55 is trading 39.5% below its estimated GF Value™ of ₺101.81. GuruFocus considers Netas Telekomunikasyon AS to be Possible Value Trap.

Key valuation signals for IST:NETAS:

  • Cyclically Adjusted Price-to-FCF: 45.93 (32% below median its 10-year median of 67.80)
  • GF Value™: ₺101.81 vs. price of ₺61.55 (39.5% below fair value)
  • GF Score™: 47/100 with 4 warning signs
  • Industry Position: 44.1% above the Hardware median (#651 of 1052)

No single metric tells the full story. See the IST:NETAS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Netas Telekomunikasyon AS Business Description

Address Osmanli Bulvari, Aeropark Sitesi B Blok No:11B Kapi, Ic Kapi No:40, Yenisehir Mahallesi, Istanbul, TUR, 34912
Netas Telekomunikasyon AS is engaged in the manufacture and trade of telecommunication equipment, project installation services, technical support, repair and maintenance services, IT services, strategic outsourcing services, implementation activities, and associated services. The group continues to provide end-to-end solutions and technology services to service providers and institutions in local and international markets. Its solutions and services are Cyber Security Solutions, New Generation Data Center, Localized Solutions, Mobile Broadband Solutions, Managed Services, Cyber Security Operation Center, Netas Network Operation Center, Informatics Support Services, and Others. Its operating segments are: Telecom, System Integration, Technology, and BDH.
47GF Score

Get the complete analysis for IST:NETAS

Cyclically Adjusted Price-to-FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₺61.55
Price
₺101.81
GF Value