Financials Turkcell Iletisim Hizmetleri Nyse

Equities

TKC

US9001112047

Integrated Telecommunications Services

Market Closed - Nyse 16:00:02 2024-05-31 EDT 5-day change 1st Jan Change
7.67 USD +5.94% Intraday chart for Turkcell Iletisim Hizmetleri +8.95% +59.46%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 30,138 35,148 40,300 82,696 122,416 217,338 - -
Enterprise Value (EV) 1 39,854 44,172 58,394 109,823 122,416 249,629 282,643 218,854
P/E ratio 9.26 x 8.3 x 8.03 x 7.43 x 9.67 x 11.7 x 8.16 x 7.41 x
Yield 2.68% 7.33% 6.37% 1.51% - 5.55% 7.88% 7.47%
Capitalization / Revenue 1.2 x 1.21 x 1.12 x 1.53 x 1.14 x 1.32 x 1.03 x 0.79 x
EV / Revenue 1.59 x 1.52 x 1.63 x 2.04 x 1.14 x 1.52 x 1.34 x 0.79 x
EV / EBITDA 3.82 x 3.6 x 3.89 x 4.99 x 2.79 x 3.58 x 3.15 x 1.85 x
EV / FCF 13.2 x 6.49 x 5.04 x 8.58 x - 24.1 x 18.6 x 9.17 x
FCF Yield 7.55% 15.4% 19.8% 11.7% - 4.14% 5.39% 10.9%
Price to Book 1.67 x 1.69 x 1.79 x 2.68 x - 3.43 x 1.66 x 0.82 x
Nbr of stocks (in thousands) 2,183,922 2,183,106 2,183,106 2,183,106 2,182,106 2,182,106 - -
Reference price 2 13.80 16.10 18.46 37.88 56.10 99.60 99.60 99.60
Announcement Date 2/20/20 2/19/21 2/17/22 3/9/23 3/20/24 - - -
1TRY in Million2TRY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 25,137 29,104 35,921 53,878 107,116 164,376 211,428 275,888
EBITDA 1 10,426 12,270 15,014 21,994 43,877 69,638 89,593 118,237
EBIT 1 5,380 6,296 7,722 12,516 23,598 41,506 53,023 54,247
Operating Margin 21.4% 21.63% 21.5% 23.23% 22.03% 25.25% 25.08% 19.66%
Earnings before Tax (EBT) 1 3,290 4,627 4,541 7,536 5,887 18,682 41,250 32,816
Net income 1 3,246 4,237 5,031 11,053 12,554 23,232 30,795 29,580
Net margin 12.92% 14.56% 14.01% 20.52% 11.72% 14.13% 14.57% 10.72%
EPS 2 1.490 1.940 2.300 5.100 5.800 8.500 12.20 13.44
Free Cash Flow 1 3,010 6,807 11,589 12,806 - 10,347 15,221 23,857
FCF margin 11.98% 23.39% 32.26% 23.77% - 6.29% 7.2% 8.65%
FCF Conversion (EBITDA) 28.87% 55.48% 77.19% 58.22% - 14.86% 16.99% 20.18%
FCF Conversion (Net income) 92.73% 160.66% 230.34% 115.85% - 44.54% 49.43% 80.65%
Dividend per Share 2 0.3700 1.180 1.175 0.5717 - 5.529 7.853 7.440
Announcement Date 2/20/20 2/19/21 2/17/22 3/9/23 3/20/24 - - -
1TRY in Million2TRY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1
Net sales 1 10,192 10,695 12,477 14,662 16,044 17,276 21,651 25,993 42,196 30,822
EBITDA 1 4,212 4,302 5,030 5,990 6,671 6,759 9,522 11,314 16,282 12,754
EBIT 1 2,136 2,217 2,550 3,593 4,156 4,073 - - -2,025 2,534
Operating Margin 20.96% 20.73% 20.44% 24.5% 25.9% 23.58% - - -4.8% 8.22%
Earnings before Tax (EBT) - - - - - - - - - -
Net income 1 1,385 802.9 1,858 2,396 5,996 2,817 3,161 5,478 1,098 2,635
Net margin 13.59% 7.51% 14.89% 16.34% 37.37% 16.3% 14.6% 21.08% 2.6% 8.55%
EPS 0.6300 0.3700 - - 2.700 - - - - -
Dividend per Share 1.175 - - - - - - - - -
Announcement Date 2/17/22 4/28/22 8/18/22 11/3/22 3/9/23 5/9/23 8/17/23 11/7/23 3/20/24 5/27/24
1TRY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 9,716 9,024 18,094 27,126 - 32,291 65,305 1,516
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 0.9319 x 0.7354 x 1.205 x 1.233 x - 0.4637 x 0.7289 x 0.0128 x
Free Cash Flow 1 3,010 6,807 11,589 12,806 - 10,347 15,221 23,857
ROE (net income / shareholders' equity) 19.1% 21.8% 23.2% 24.1% - 46% 45.3% 9.5%
ROA (Net income/ Total Assets) 7.34% 8.72% 8.24% 7.5% - 13.2% 13.9% 11.1%
Assets 1 44,240 48,591 61,091 147,445 - 175,996 221,547 266,486
Book Value Per Share 2 8.260 9.520 10.30 14.20 - 29.10 60.10 122.0
Cash Flow per Share 2 4.130 6.450 9.680 12.30 - 29.80 30.00 41.50
Capex 1 6,016 7,280 9,583 14,086 - 44,039 54,110 67,796
Capex / Sales 23.93% 25.02% 26.68% 26.14% - 26.79% 25.59% 24.57%
Announcement Date 2/20/20 2/19/21 2/17/22 3/9/23 3/20/24 - - -
1TRY in Million2TRY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
12
Last Close Price
99.6 TRY
Average target price
103.8 TRY
Spread / Average Target
+4.26%
Consensus

Quarterly revenue - Rate of surprise

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