(TKC) Turkcell Iletisim - Overview
Sector: Communication Services | Industry: Telecom Services | Exchange: NYSE (USA) | Market Cap: 5.171m USD | Total Return: -4.8% in 12m
Avg Turnover: 5.77M
EPS Trend: -39.0%
Rev. Trend: 49.1%
Qual. Beats: 0
Warnings
Earnings expected to drop: P/E 12.9 → Forward 31.1
Choppy Below Avwap Earnings
Tailwinds
No distinct edge detected
Turkcell Iletisim Hizmetleri A.S. (TKC) is a diversified telecommunications provider headquartered in Istanbul, operating GSM networks across Turkey, Belarus, Northern Cyprus, Germany, and the Netherlands. The company operates through three primary segments: Turkcell Turkiye, Turkcell International, and Techfin. Its business model extends beyond traditional voice and data services to include digital insurance, electronic payment systems, consumer financing, and cloud computing solutions.
The company functions within the wireless telecommunication services sector, which is increasingly characterized by the integration of financial technology (Fintech) and digital content streaming to drive average revenue per user. Turkcells vertical integration includes owning its telecommunications infrastructure and developing proprietary software for its search engine and digital education platforms.
Investors can further evaluate these operational segments and financial trends by reviewing the detailed metrics available on ValueRay.
In addition to its core mobile operations, Turkcell manages a venture capital fund and provides wholesale electricity sales, reflecting a strategy of broad industrial diversification. Founded in 1993, the company maintains a significant regional footprint through its extensive physical infrastructure and digital service ecosystem.
- Hyperinflation in Turkey drives frequent tariff adjustments to maintain real revenue growth
- Depreciation of the Turkish Lira increases foreign currency debt servicing costs
- Expansion of high-margin digital services and fintech platforms diversifies revenue streams
- Regulatory shifts by the Information and Communication Technologies Authority impact pricing power
- Rising demand for fiber and 5G infrastructure necessitates heavy capital expenditure outlays
| Net Income: 9.80b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA -2.00 > 1.0 |
| NWC/Revenue: 65.28% < 20% (prev 35.67%; Δ 29.61% < -1%) |
| CFO/TA 0.09 > 3% & CFO 53.1b > Net Income 9.80b |
| Net Debt (102b) to EBITDA (55.0b): 1.86 < 3 |
| Current Ratio: 1.69 > 1.5 & < 3 |
| Outstanding Shares: last quarter (870.3m) vs 12m ago -0.46% < -2% |
| Gross Margin: 28.28% > 18% (prev 0.26%; Δ 2.80k% > 0.5%) |
| Asset Turnover: 22.32% > 50% (prev 44.81%; Δ -22.50% > 0%) |
| Interest Coverage Ratio: 3.09 > 6 (EBITDA TTM 55.0b / Interest Expense TTM 6.86b) |
| A: 0.12 (Total Current Assets 185b - Total Current Liabilities 109b) / Total Assets 620b |
| B: 0.35 (Retained Earnings 219b / Total Assets 620b) |
| C: 0.04 (EBIT TTM 21.2b / Avg Total Assets 519b) |
| D: 0.70 (Book Value of Equity 228b / Total Liabilities 328b) |
| Altman-Z'' = 2.96 = A |
| DSRI: 2.29 (Receivables 47.1b/33.2b, Revenue 116b/187b) |
| GMI: 0.93 (GM 28.28% / 26.22%) |
| AQI: 1.21 (AQ_t 0.38 / AQ_t-1 0.31) |
| SGI: 0.62 (Revenue 116b / 187b) |
| TATA: -0.07 (NI 9.80b - CFO 53.1b) / TA 620b) |
| Beneish M = -2.25 (Cap -4..+1) = BBB |
As of May 25, 2026, the stock is trading at USD 5.83 with a total of 1,190,080 shares traded.
Over the past week, the price has changed by -3.64%,
over one month by -8.33%,
over three months by -16.71% and
over the past year by -4.78%.
Turkcell Iletisim has received a consensus analysts rating of 5.00. Therefore, it is recommended to buy TKC.
- StrongBuy: 1
- Buy: 0
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 7.7 | 32.6% |
Market Cap TRY = 236b (5.17b USD * 45.7293 USD.TRY)
P/E Trailing = 12.913
P/E Forward = 31.0559
P/S = 0.9552
P/B = 0.811
P/EG = 4.3726
Revenue TTM = 116b TRY
EBIT TTM = 21.2b TRY
EBITDA TTM = 55.0b TRY
Long Term Debt = 156b TRY (from longTermDebt, last quarter)
Short Term Debt = 38.4b TRY (from shortTermDebt, last quarter)
Debt = 223b TRY (from shortLongTermDebtTotal, last quarter) + Leases 16.2b
Net Debt = 102b TRY (calculated: Debt 223b - CCE 121b)
Enterprise Value = 339b TRY (236b + Debt 223b - CCE 121b)
Interest Coverage Ratio = 3.09 (Ebit TTM 21.2b / Interest Expense TTM 6.86b)
EV/FCF = 14.10x (Enterprise Value 339b / FCF TTM 24.0b)
FCF Yield = 7.09% (FCF TTM 24.0b / Enterprise Value 339b)
FCF Margin = 20.76% (FCF TTM 24.0b / Revenue TTM 116b)
Net Margin = 8.47% (Net Income TTM 9.80b / Revenue TTM 116b)
Gross Margin = 28.28% ((Revenue TTM 116b - Cost of Revenue TTM 83.0b) / Revenue TTM)
Gross Margin QoQ = 26.79% (prev 28.21%)
Tobins Q-Ratio = 0.55 (Enterprise Value 339b / Total Assets 620b)
Interest Expense / Debt = 3.08% (Interest Expense 6.86b / Debt 223b)
Taxrate = 42.96% (338.6m / 788.2m)
NOPAT = 12.1b (EBIT 21.2b * (1 - 42.96%))
Current Ratio = 1.69 (Total Current Assets 185b / Total Current Liabilities 109b)
Debt / Equity = 0.76 (Debt 223b / totalStockholderEquity, last quarter 292b)
Debt / EBITDA = 1.86 (Net Debt 102b / EBITDA 55.0b)
Debt / FCF = 4.26 (Net Debt 102b / FCF TTM 24.0b)
Total Stockholder Equity = 190b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.89% (Net Income 9.80b / Total Assets 620b)
RoE = 5.16% (Net Income TTM 9.80b / Total Stockholder Equity 190b)
RoCE = 6.14% (EBIT 21.2b / Capital Employed (Equity 190b + L.T.Debt 156b))
RoIC = 2.21% (NOPAT 12.1b / Invested Capital 547b)
WACC = 4.80% (E(236b)/V(460b) * Re(7.67%) + D(223b)/V(460b) * Rd(3.08%) * (1-Tc(0.43)))
Discount Rate = 7.67% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -60.0 | Cagr: -0.13%
[DCF] Terminal Value 75.14% ; FCFF base≈24.3b ; Y1≈23.9b ; Y5≈24.4b
[DCF] Fair Price = 319.8 (EV 381b - Net Debt 102b = Equity 278b / Shares 870.6m; r=8.35% [WACC [floored]]; 5y FCF grow -2.22% → 2.50% )
EPS Correlation: -38.96 | EPS CAGR: -14.59% | SUE: N/A | # QB: 0
Revenue Correlation: 49.06 | Revenue CAGR: 14.31% | SUE: -0.72 | # QB: 0
EPS current Year (2026-12-31): EPS=36.18 | Chg30d=-13.30% | Revisions=-20% | GrowthEPS=+69.5% | GrowthRev=+48.0%
EPS next Year (2027-12-31): EPS=64.90 | Chg30d=N/A | Revisions=N/A | GrowthEPS=+79.4% | GrowthRev=+18.4%