Cash flow Mackolik Internet Hizmetleri Ticaret

Stocks

MACKO

TREMACK00017

Internet Services

Delayed Borsa Istanbul 10:15:27 2026-10-05 EDT			5-day change	1st Jan Change
24.60 ^TRY	-1.76%		-1.84%	-20.39%

08-13	Mackolik Internet Hizmetleri Ticaret A.S. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI
05-11	Mackolik Internet Hizmetleri Ticaret A.S. Reports Earnings Results for the First Quarter Ended March 31, 2026	CI

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Published financial data: MACKOLIK INTERNET HIZMETLERI TICARET

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (TRY)	2022 (TRY)	2023 (TRY)	2024 (TRY)	2025 (TRY)
Revenues	114M	186M	376M	697M	1.1B
Total Revenues	114M	186M	376M	697M	1.1B
Cost of Goods Sold, Total	23.82M	45.04M	112M	211M	343M
Gross Profit	90.03M	141M	265M	486M	757M
Selling General & Admin Expenses, Total	15.66M	39.69M	89.17M	124M	218M
Other Operating Expenses	2.57M	3.89M	3.38M	1.57M	22.08M
Other Operating Expenses, Total	18.23M	43.58M	92.55M	126M	241M
Operating Income	71.8M	97.49M	172M	361M	516M
Interest Expense, Total	-403K	-904K	-1.21M	-1.68M	-27.74M
Interest And Investment Income	3.33M	184K	26.55M	61.4M	122M
Net Interest Expenses	2.93M	-720K	25.34M	59.72M	93.9M
Currency Exchange Gains (Loss)	29.31M	21.99M	25.6M	8.29M	-5.49M
Other Non Operating Income (Expenses)	-	-	-41.71M	-83.66M	-124M
EBT, Excl. Unusual Items	104M	119M	181M	345M	480M
Gain (Loss) On Sale Of Investments	-46.78K	-	-	-	-26.14M
Legal Settlements	-5.44K	-69.75K	-	-182K	-8.57K
EBT, Incl. Unusual Items	104M	119M	181M	345M	454M
Income Tax Expense	18.44M	21.24M	28.87M	89.28M	133M
Earnings From Continuing Operations	85.54M	97.45M	152M	255M	322M
Net Income to Company	85.54M	97.45M	152M	255M	322M
Net Income - (IS)	85.54M	97.45M	152M	255M	322M
Net Income to Common Incl Extra Items	85.54M	97.45M	152M	255M	322M
Net Income to Common Excl. Extra Items	85.54M	97.45M	152M	255M	322M
Per Share Items
Net EPS - Basic	4.8	1.07	1.52	2.55	4.59
Basic EPS - Continuing Operations	4.8	1.07	1.52	2.55	4.59
Basic Weighted Average Shares Outstanding	17.81M	91.35M	100M	100M	70M
Net EPS - Diluted	4.8	1.07	1.52	2.55	4.59
Diluted EPS - Continuing Operations	4.8	1.07	1.52	2.55	4.59
Diluted Weighted Average Shares Outstanding	17.81M	91.35M	100M	100M	70M
Normalized Basic EPS	3.65	0.81	1.13	2.16	4.29
Normalized Diluted EPS	3.65	0.81	1.13	2.16	4.29
Dividend Per Share	-	-	1.52	-	4.5
Payout Ratio	118.41	37.77	64.9	93.89	38.38
Supplemental Items
EBITDA	76.23M	107M	190M	394M	571M
EBITA	76.11M	106M	188M	389M	564M
EBIT	71.8M	97.49M	172M	361M	516M
Effective Tax Rate - (Ratio)	17.73	17.9	15.93	25.9	29.21
Current Domestic Taxes	16.58M	11.18M	22.71M	74.87M	131M
Current Foreign Taxes	3.97M	9.78M	7.03M	13.49M	2.38M
Total Current Taxes	20.54M	20.96M	29.74M	88.36M	134M
Deferred Domestic Taxes	-281K	338K	-759K	1.64M	-1.24M
Deferred Foreign Taxes	-1.82M	-53.01K	-106K	-727K	382K
Total Deferred Taxes	-2.1M	285K	-865K	914K	-854K
Normalized Net Income	65.02M	74.22M	113M	216M	300M
Supplemental Operating Expense Items
Advertising Expense	-	-	30.3M	-	100M
Marketing Expenses	4.46M	16.6M	886K	40.37M	941K
Selling and Marketing Expenses	4.46M	16.6M	31.19M	40.37M	101M
General and Administrative Expenses	11.19M	23.1M	57.98M	83.85M	117M
Maintenance & Repair Expenses, Total	89.97K	181K	-	-	-

Fiscal Period: December	2021 (TRY)	2022 (TRY)	2023 (TRY)	2024 (TRY)	2025 (TRY)
Assets
Cash And Equivalents	40.16M	86.31M	114M	101M	107M
Total Cash And Short Term Investments	40.16M	86.31M	114M	101M	107M
Accounts Receivable, Total	25.56M	49.39M	107M	175M	307M
Other Receivables	6.1M	7.89M	16.15M	108M	115M
Total Receivables	31.66M	57.28M	123M	283M	422M
Prepaid Expenses	113K	758K	3.26M	10.99M	7.2M
Other Current Assets, Total	919K	1.67M	137K	416K	2.09M
Total Current Assets	72.84M	146M	241M	395M	538M
Gross Property Plant And Equipment	3.46M	7.86M	33.23M	61.15M	107M
Accumulated Depreciation	-2.07M	-3.81M	-20.85M	-41.31M	-75.79M
Net Property Plant And Equipment	1.39M	4.05M	12.38M	19.84M	31.24M
Long-term Investments	-	-	8.07M	43.85M	91.58M
Other Intangibles, Total	52.06M	46.84M	60.42M	78.87M	109M
Loans Receivable Long-Term	-	-	60M	-	143M
Deferred Tax Assets Long-Term	619K	340K	-	-	-
Other Long-Term Assets, Total	-	188K	166K	156K	110K
Total Assets	127M	197M	382M	538M	913M
Liabilities
Accounts Payable, Total	1.9M	4.06M	7.89M	15.61M	27.89M
Accrued Expenses, Total	11.09M	14.41M	49.75M	42.76M	49M
Short-term Borrowings	217K	1.11K	116K	712K	87.92M
Current Portion of Leases	1.3M	1.63M	2.31M	2.9M	8.43M
Current Income Taxes Payable	6.9M	5.29M	13.09M	7.62M	15.97M
Unearned Revenue Current, Total	-	235K	205K	606K	169K
Other Current Liabilities	34.88K	105K	-	182K	268K
Total Current Liabilities	21.44M	25.74M	73.36M	70.39M	190M
Long-Term Leases	-	581K	396K	2.19M	1.95M
Pension & Other Post Retirement Benefits	577K	821K	1.65M	3.61M	6.39M
Deferred Tax Liability Non Current	-	-	387K	1.69M	1.69M
Other Non Current Liabilities	-	-	-	10.35M	22.08M
Total Liabilities	22.02M	27.14M	75.79M	88.23M	222M
Common Stock, Total	8.2M	25M	25M	25M	100M
Retained Earnings	87.18M	131M	269M	404M	727M
Treasury Stock	-	-	-	-	-106M
Comprehensive Income and Other	9.52M	14.27M	12.19M	20.97M	-29.4M
Total Common Equity	105M	170M	306M	450M	691M
Total Equity	105M	170M	306M	450M	691M
Total Liabilities And Equity	127M	197M	382M	538M	913M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	17.81M	100M	100M	100M	99.17M
ECS Total Common Shares Outstanding	17.81M	100M	100M	100M	99.17M
Book Value / Share	5.89	1.7	3.06	4.5	6.97
Tangible Book Value	52.84M	123M	246M	371M	582M
Tangible Book Value Per Share	2.97	1.23	2.46	3.71	5.87
Total Debt	1.52M	2.22M	2.82M	5.8M	98.3M
Net Debt	-38.64M	-84.1M	-111M	-94.93M	-8.27M
Account Code - Inventory Valuation	-	3	3	3	3
Machinery, Total	1.39M	2.84M	17.61M	28.77M	45.12M
Full Time Employees	-	41	120	120	141
Accumulated Allowance for Doubtful Accounts (Supple)	272K	500K	973K	1.42M	3.36M

Fiscal Period: December	2021 (TRY)	2022 (TRY)	2023 (TRY)	2024 (TRY)	2025 (TRY)
Net Income	85.54M	97.45M	152M	255M	322M
Depreciation & Amortization - CF	886K	1.74M	4.91M	11.22M	21.71M
Amortization of Goodwill and Intangible Assets - (CF)	4.31M	8.89M	16.28M	28.81M	48.4M
Depreciation & Amortization, Total	5.2M	10.62M	21.2M	40.03M	70.11M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	26.14M
Provision and Write-off of Bad Debts	-564K	228K	369K	569K	1.97M
Other Operating Activities, Total	4.46M	656K	61.86M	40.79M	75.5M
Change In Accounts Receivable	-14.49M	-23.79M	-25.16M	-15.5M	-72.34M
Change In Accounts Payable	1.34M	1.22M	-3.34M	1.57M	-13.04M
Change in Unearned Revenues	-14.55K	235K	-182K	310K	-625K
Change in Other Net Operating Assets	62.77M	-1.25M	-41.79M	-64.78M	-155M
Cash from Operations	144M	85.36M	165M	258M	255M
Capital Expenditure	-271K	-2.08M	-6.73M	-4.43M	-9.06M
Cash Acquisitions	-48.99M	-	-	-	-
Sale (Purchase) of Intangible assets	-4.01M	-3.32M	-18.15M	-35.57M	-61.61M
Cash from Investing	-53.27M	-5.4M	-24.87M	-40.01M	-70.68M
Long-Term Debt Issued, Total	-	-	8.97M	3.73M	310M
Total Debt Issued	-	-	8.97M	3.73M	310M
Long-Term Debt Repaid, Total	-416K	-1.63M	-12.11M	-10.71M	-250M
Total Debt Repaid	-416K	-1.63M	-12.11M	-10.71M	-250M
Issuance of Common Stock	750K	-	-	-	-
Repurchase of Common Stock	-	-	-	-	-106M
Common Dividends Paid	-101M	-36.8M	-98.86M	-240M	-123M
Common & Preferred Stock Dividends Paid	-101M	-36.8M	-98.86M	-240M	-123M
Other Financing Activities, Total	335K	184K	6.81M	1.93M	-24.4M
Cash from Financing	-101M	-38.25M	-95.2M	-245M	-193M
Foreign Exchange Rate Adjustments	9.1M	4.43M	-9.44M	7.15M	18.01M
Miscellaneous Cash Flow Adjustments	-	-	-64M	-44.55M	-33.81M
Net Change in Cash	-542K	46.16M	-28.23M	-63.85M	-25.28M
Supplemental Items
Cash Interest Paid	-	-	-	-	27.74M
Levered Free Cash Flow	-	42.76M	106M	77.21M	264M
Unlevered Free Cash Flow	-	43.32M	107M	78.26M	282M
Change In Net Working Capital	-	22.83M	-2.93M	147M	40.29M
Net Debt Issued / Repaid	-416K	-1.63M	-3.15M	-6.98M	60.19M

Fiscal Period: December	2021 (TRY)	2022 (TRY)	2023 (TRY)	2024 (TRY)	2025 (TRY)
Profitability
Return on Assets	-	37.57	30.06	41.38	39.89
Return on Total Capital	-	43.69	35.84	50	46.55
Return On Equity %	-	70.82	51.34	57.3	50.24
Return on Common Equity	-	70.82	51.34	57.3	50.24
Margin Analysis
Gross Profit Margin %	79.08	75.8	70.3	69.73	68.8
SG&A Margin	13.75	21.33	23.7	17.81	19.86
EBITDA Margin %	66.96	57.33	50.58	56.48	51.96
EBITA Margin %	66.85	57.16	50.04	55.83	51.33
EBIT Margin %	63.06	52.38	45.71	51.69	46.93
Income From Continuing Operations Margin %	75.14	52.36	40.49	36.62	29.24
Net Income Margin %	75.14	52.36	40.49	36.62	29.24
Net Avail. For Common Margin %	75.14	52.36	40.49	36.62	29.24
Normalized Net Income Margin	57.11	39.88	30.1	30.91	27.3
Levered Free Cash Flow Margin	-	22.98	28.17	11.07	24.04
Unlevered Free Cash Flow Margin	-	23.28	28.37	11.22	25.61
Asset Turnover
Asset Turnover	-	1.15	1.05	1.28	1.36
Fixed Assets Turnover	-	68.4	36.42	36.98	38.45
Receivables Turnover (Average Receivables)	-	4.97	3.99	4.23	4.1
Short Term Liquidity
Current Ratio	3.4	5.67	3.28	5.61	2.84
Quick Ratio	3.35	5.58	3.24	5.45	2.79
Operating Cash Flow to Current Liabilities	6.73	3.32	2.25	3.67	1.34
Days Sales Outstanding (Average Receivables)	-	73.5	91.47	86.54	89.05
Average Days Payable Outstanding	-	24.17	23.83	23.41	25.7
Long Term Solvency
Total Debt/Equity	1.45	1.3	0.92	1.29	14.22
Total Debt / Total Capital	1.43	1.28	0.91	1.27	12.45
LT Debt/Equity	-	0.34	0.13	0.49	0.28
Long-Term Debt / Total Capital	-	0.34	0.13	0.48	0.25
Total Liabilities / Total Assets	17.35	13.75	19.85	16.4	24.28
EBIT / Interest Expense	178.35	107.82	141.98	214.28	18.61
EBITDA / Interest Expense	191.26	119.57	159.48	238.07	21.13
(EBITDA - Capex) / Interest Expense	190.59	117.28	153.93	235.43	20.81
Total Debt / EBITDA	0.02	0.02	0.01	0.01	0.17
Net Debt / EBITDA	-0.5	-0.78	-0.58	-0.24	-0.01
Total Debt / (EBITDA - Capex)	0.02	0.02	0.02	0.01	0.17
Net Debt / (EBITDA - Capex)	-0.5	-0.79	-0.6	-0.24	-0.01
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	63.47	10.1	28.38	20.47
Gross Profit, 1 Yr. Growth %	-	56.69	6.13	27.33	18.86
EBITDA, 1 Yr. Growth %	-	39.97	-0.53	43.36	10.82
EBITA, 1 Yr. Growth %	-	39.76	-1.1	43.24	10.76
EBIT, 1 Yr. Growth %	-	35.78	-0.83	45.19	9.36
Earnings From Cont. Operations, 1 Yr. Growth %	-	13.92	34.32	16.13	-3.82
Net Income, 1 Yr. Growth %	-	13.92	34.32	16.13	-3.82
Normalized Net Income, 1 Yr. Growth %	-	14.15	18.47	31.82	6.42
Diluted EPS Before Extra, 1 Yr. Growth %	-	-77.78	22.7	16.13	37.4
Accounts Receivable, 1 Yr. Growth %	-	93.25	31.72	13.09	34.2
Net Property, Plant and Equip., 1 Yr. Growth %	-	191.37	49.6	10.94	20.31
Total Assets, 1 Yr. Growth %	-	55.57	14.55	-2.41	29.7
Tangible Book Value, 1 Yr. Growth %	-	133.66	20.7	4.58	19.99
Common Equity, 1 Yr. Growth %	-	62.34	6.46	1.79	17.47
Cash From Operations, 1 Yr. Growth %	-	-40.82	-16.3	8.29	-24.75
Capital Expenditures, 1 Yr. Growth %	-	666.88	79.59	-54.34	56.14
Levered Free Cash Flow, 1 Yr. Growth %	-	-	44.62	-39.18	240.95
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	43.84	-38.88	263.3
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	81.8	42.85	42.28
Gross Profit, 2 Yr. CAGR %	-	-	71.41	39.68	40.75
EBITDA, 2 Yr. CAGR %	-	-	58	43.48	44.21
EBITA, 2 Yr. CAGR %	-	-	57.28	43.01	44.11
EBIT, 2 Yr. CAGR %	-	-	54.77	44.19	44.17
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-	33.45	50.07	20.91
Net Income, 2 Yr. CAGR %	-	-	33.45	50.07	20.91
Normalized Net Income, 2 Yr. CAGR %	-	-	31.98	50.16	35.5
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	-43.68	43.43	44.52
Accounts Receivable, 2 Yr. CAGR %	-	-	104.8	46.65	40.94
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	198.43	54.8	32.18
Total Assets, 2 Yr. CAGR %	-	-	73.44	27.04	28.71
Tangible Book Value, 2 Yr. CAGR %	-	-	115.59	35	28.16
Common Equity, 2 Yr. CAGR %	-	-	70.79	25.08	25.1
Cash From Operations, 2 Yr. CAGR %	-	-	7.05	14.39	3.28
Capital Expenditures, 2 Yr. CAGR %	-	-	398.47	8.81	-3.4
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-	2.64	44.3
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-	2.69	48.32
Dividend Per Share, 2 Yr. CAGR %	-	-	-	-	71.92
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	82.97	47.63
Gross Profit, 3 Yr. CAGR %	-	-	-	75.46	44.79
EBITDA, 3 Yr. CAGR %	-	-	-	72.88	44.01
EBITA, 3 Yr. CAGR %	-	-	-	72.3	43.67
EBIT, 3 Yr. CAGR %	-	-	-	71.24	43.84
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-	44	41.54
Net Income, 3 Yr. CAGR %	-	-	-	44	41.54
Normalized Net Income, 3 Yr. CAGR %	-	-	-	49.11	46.44
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-	-18.98	54.67
Accounts Receivable, 3 Yr. CAGR %	-	-	-	89.9	55.75
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-	142.53	55.69
Total Assets, 3 Yr. CAGR %	-	-	-	61.83	39.93
Tangible Book Value, 3 Yr. CAGR %	-	-	-	91.46	41.99
Common Equity, 3 Yr. CAGR %	-	-	-	62.45	33.99
Cash From Operations, 3 Yr. CAGR %	-	-	-	21.45	8.83
Capital Expenditures, 3 Yr. CAGR %	-	-	-	153.96	34.25
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	53.36
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	55.99