Turkcell Iletisim Hizmetleri A.S. (TKC) Financial Ratios
27 years of historical data (1999–2025) · Communication Services · Telecommunications Services
EV/EBITDA
↑
94.02
↑+7796% vs avg
5yr avg: 1.19
30Y Low0.2·High9.1
P/FCF
↓
10.54
↑+1426% vs avg
5yr avg: 0.69
30Y Low0.2·High129.8
P/B Ratio
↑
40.52
↑+21891% vs avg
5yr avg: 0.18
30Y Low0.0·High3.9
ROE
↓
0.5%
↑-96% vs avg
5yr avg: 10.9%
30Y Low-14%·High154%
Debt/EBITDA
↑
1.40
↓-22% vs avg
5yr avg: 1.79
30Y Low0.1·High2.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
TKC Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Turkcell Iletisim Hizmetleri A.S. trades at 12.7x earnings, 3385% above its 5-year average of 0.4x, sitting at the 83rd percentile of its historical range. Compared to the Communication Services sector median P/E of 15.3x, the stock trades at a discount of 17%. On a free-cash-flow basis, the stock trades at 10.5x P/FCF, 1426% above the 5-year average of 0.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.3B | $4.7B | $5.7B | $4.2B | $4.2B | $3.1B | $4.7B | $5.1B | $4.9B | $8.9B | $6.1B |
| Enterprise Value | $5.4B | $6.2B | $41.1B | $53.4B | $50.1B | $32.9B | $6.0B | $6.8B | $17.6B | $16.8B | $9.8B |
| P/E Ratio → | 12.71 | 0.24 | 0.24 | 0.33 | 0.38 | 0.62 | 1.05 | 2.02 | 2.41 | 4.53 | 4.06 |
| P/S Ratio | 40.49 | 0.77 | 0.03 | 0.04 | 0.03 | 0.03 | 0.07 | 0.20 | 0.23 | 0.51 | 0.42 |
| P/B Ratio | 40.52 | 0.78 | 0.03 | 0.02 | 0.04 | 0.05 | 1.69 | 1.67 | 0.31 | 0.59 | 0.38 |
| P/FCF | 10.54 | 0.20 | 0.22 | 0.24 | 0.21 | 2.59 | 1.12 | 1.68 | 12.29 | — | — |
| P/OCF | 2.03 | 0.04 | 0.08 | 0.07 | 0.07 | 1.32 | 0.23 | 0.56 | 0.84 | 2.89 | 9.97 |
P/E links to full P/E history page with 30-year chart
TKC EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Turkcell Iletisim Hizmetleri A.S.'s enterprise value stands at 94.0x EBITDA, 7796% above its 5-year average of 1.2x. The Communication Services sector median is 9.6x, placing the stock at a 878% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.02 | 0.25 | 0.50 | 0.37 | 0.30 | 0.09 | 0.27 | 0.83 | 0.95 | 0.68 |
| EV / EBITDA | 94.02 | 2.36 | 0.67 | 1.29 | 0.91 | 0.72 | 0.22 | 0.67 | 2.05 | 3.06 | 1.88 |
| EV / EBIT | 239.23 | 6.01 | 1.19 | 4.56 | 4.62 | 3.25 | 0.80 | 1.62 | 5.47 | 5.17 | 3.99 |
| EV / FCF | — | 0.27 | 1.57 | 3.03 | 2.48 | 27.21 | 1.43 | 2.25 | 44.18 | — | — |
TKC Profitability
Margins and return-on-capital ratios measuring operating efficiency
Turkcell Iletisim Hizmetleri A.S. earns an operating margin of 17.0%, significantly above the Communication Services sector average of 1.6%. Operating margins have expanded from 7.3% to 17.0% over the past 3 years, signaling improving operational efficiency. ROE of 0.5% is modest. ROIC of 0.7% represents below-average returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 28.7% | 28.7% | 24.7% | 21.2% | 12.6% | 20.7% | 23.6% | 32.0% | 33.6% | 35.6% | 35.3% |
| Operating Margin | 17.0% | 17.0% | 21.1% | 7.3% | 3.2% | 11.1% | 12.9% | 20.0% | 20.5% | 16.6% | 21.4% |
| Net Profit Margin | 7.3% | 7.3% | 14.1% | 11.7% | 7.4% | 6.6% | 6.5% | 12.9% | 9.5% | 11.2% | 10.4% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 0.5% | 0.5% | 12.9% | 8.8% | 11.4% | 20.9% | 154.3% | 34.0% | 13.0% | 12.7% | 9.8% |
| ROA | 0.2% | 0.2% | 6.7% | 4.2% | 5.1% | 9.0% | 60.9% | 12.9% | 5.3% | 6.0% | 5.2% |
| ROIC | 0.7% | 0.7% | 11.8% | 3.1% | 2.6% | 18.3% | 152.7% | 22.5% | 12.7% | 10.3% | 12.9% |
| ROCE | 0.8% | 0.8% | 13.3% | 3.4% | 2.8% | 18.8% | 161.9% | 27.5% | 15.6% | 12.0% | 13.9% |
TKC Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Turkcell Iletisim Hizmetleri A.S. carries a Debt/EBITDA ratio of 1.4x, which is manageable (61% below the sector average of 3.6x). Net debt stands at $1.5B ($3.7B total debt minus $2.2B cash). Interest coverage of just 2.7x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.61 | 0.61 | 0.56 | 0.69 | 0.81 | 0.92 | 1.04 | 1.12 | 1.26 | 0.83 | 0.61 |
| Debt / EBITDA | 1.40 | 1.40 | 1.70 | 2.94 | 1.61 | 1.31 | 0.10 | 0.34 | 2.34 | 2.28 | 1.88 |
| Net Debt / Equity | — | 0.25 | 0.19 | 0.28 | 0.42 | 0.46 | 0.47 | 0.56 | 0.79 | 0.52 | 0.23 |
| Net Debt / EBITDA | 0.58 | 0.58 | 0.58 | 1.19 | 0.83 | 0.65 | 0.05 | 0.17 | 1.48 | 1.43 | 0.72 |
| Debt / FCF | — | 0.07 | 1.35 | 2.79 | 2.27 | 24.62 | 0.31 | 0.56 | 31.88 | — | — |
| Interest Coverage | 2.72 | 2.72 | 3.01 | 1.39 | 1.76 | 3.60 | 49.42 | 20.63 | 4.00 | 4.92 | 5.61 |
TKC Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.70x means Turkcell Iletisim Hizmetleri A.S. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 1.78x to 1.70x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.70 | 1.70 | 1.25 | 1.78 | 1.59 | 1.72 | 1.78 | 1.53 | 1.56 | 1.53 | 1.81 |
| Quick Ratio | 1.69 | 1.69 | 1.24 | 1.77 | 1.58 | 1.70 | 1.76 | 1.51 | 1.55 | 1.51 | 1.80 |
| Cash Ratio | 1.16 | 1.16 | 0.83 | 1.02 | 1.05 | 1.09 | 1.09 | 0.84 | 0.64 | 0.51 | 0.82 |
| Asset Turnover | — | 0.51 | 0.48 | 0.30 | 0.57 | 0.72 | 9.78 | 3.27 | 0.50 | 0.52 | 0.45 |
| Inventory Turnover | 208.29 | 208.29 | 186.05 | 108.18 | 238.25 | 187.78 | 1937.77 | 569.87 | 78.40 | 109.03 | 69.99 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
TKC Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Turkcell Iletisim Hizmetleri A.S. returns 4.1% to shareholders annually — split between a 4.0% dividend yield and 0.1% buyback yield. The payout ratio exceeds 100% at 2191.9%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 7.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.0% | 100.0% | 100.0% | 85.5% | 82.5% | 9.2% | 39.5% | 19.9% | 38.7% | 33.4% | 0.8% |
| Payout Ratio | 2191.9% | 2191.9% | 31.1% | 28.6% | 34.8% | 4.0% | 41.4% | 31.1% | 94.0% | 151.1% | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.9% | 408.2% | 414.4% | 299.0% | 264.1% | 160.2% | 95.0% | 49.5% | 41.5% | 22.1% | 24.6% |
| FCF Yield | 9.5% | 497.4% | 460.6% | 420.2% | 483.3% | 38.6% | 89.4% | 59.4% | 8.1% | — | — |
| Buyback Yield | 0.1% | 5.9% | 5.8% | 1.2% | 0.0% | 0.0% | 0.5% | 0.2% | 1.9% | 0.0% | 1.1% |
| Total Shareholder Yield | 4.1% | 100.0% | 100.0% | 86.7% | 82.5% | 9.2% | 40.0% | 20.1% | 40.6% | 33.4% | 1.9% |
| Shares Outstanding | — | $862M | $872M | $873M | $873M | $873M | $877M | $874M | $874M | $877M | $877M |
Peer Comparison
Compare TKC with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 TKCYou | $5B | 12.7 | 94.0 | 10.5 | 28.7% | 17.0% | 0.5% | 0.7% | 1.4 |
 VEON | $4B | 6.9 | 3.8 | 5.7 | 69.8% | 23.3% | 37.4% | 16.8% | 2.8 |
 TEF | $24B | -65.1 | 5.2 | 4.0 | 69.6% | 5.8% | -0.2% | 2.9% | 4.0 |
 PHI | $4B | 7.5 | 5.0 | 9.6 | 59.6% | 24.9% | 25.1% | 9.1% | 3.1 |
 VIV | $20B | 17.2 | 5.4 | 9.4 | 40.4% | 15.2% | 8.7% | 7.6% | 1.3 |
 T | $154B | 7.2 | 6.9 | 7.9 | 79.8% | 19.2% | 17.6% | 6.7% | 3.9 |
 VZ | $191B | 11.2 | 7.8 | 9.5 | 45.6% | 21.2% | 16.6% | 8.0% | 4.2 |
 TMUS | $197B | 18.7 | 9.7 | 19.0 | 47.6% | 21.2% | 18.2% | 8.1% | 3.8 |
 LILA | $961M | -1.6 | 6.3 | 3.1 | 67.5% | 16.2% | -45.5% | 5.6% | 5.7 |
 AMX | $80B | 17.8 | 6.4 | 11.4 | 42.9% | 21.0% | 18.1% | 11.2% | 2.6 |
 ERIC | $35B | 13.6 | 8.9 | 11.8 | 48.1% | 13.8% | 26.3% | 22.3% | 1.2 |
| Communication Services Median | — | 15.3 | 9.6 | 11.4 | 48.5% | 1.6% | 2.0% | 2.6% | 3.6 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 27 years · Updated daily
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TKC — Frequently Asked Questions
Quick answers to the most common questions about buying TKC stock.
What is Turkcell Iletisim Hizmetleri A.S.'s P/E ratio?
Turkcell Iletisim Hizmetleri A.S.'s current P/E ratio is 12.7x. The historical average is 6.7x. This places it at the 83th percentile of its historical range.
What is Turkcell Iletisim Hizmetleri A.S.'s EV/EBITDA?
Turkcell Iletisim Hizmetleri A.S.'s current EV/EBITDA is 94.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 3.1x.
What is Turkcell Iletisim Hizmetleri A.S.'s ROE?
Turkcell Iletisim Hizmetleri A.S.'s return on equity (ROE) is 0.5%. The historical average is 22.0%.
Is TKC stock overvalued?
Based on historical data, Turkcell Iletisim Hizmetleri A.S. is trading at a P/E of 12.7x. This is at the 83th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Turkcell Iletisim Hizmetleri A.S.'s dividend yield?
Turkcell Iletisim Hizmetleri A.S.'s current dividend yield is 3.99% with a payout ratio of 2191.9%.
What are Turkcell Iletisim Hizmetleri A.S.'s profit margins?
Turkcell Iletisim Hizmetleri A.S. has 28.7% gross margin and 17.0% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Turkcell Iletisim Hizmetleri A.S. have?
Turkcell Iletisim Hizmetleri A.S.'s Debt/EBITDA ratio is 1.4x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.