Turkcell Iletisim Hizmetleri A.S.

IBSE:TCELL Stock Report

Market Cap: ₺240.5b

Turkcell Iletisim Hizmetleri Future Growth

Future criteria checks 3/6

Turkcell Iletisim Hizmetleri is forecast to grow earnings and revenue by 34.2% and 22.7% per annum respectively. EPS is expected to grow by 27.2% per annum. Return on equity is forecast to be 10.7% in 3 years.

Key information

34.2%

Earnings growth rate

27.17%

EPS growth rate

Wireless Telecom earnings growth-5.4%
Revenue growth rate22.7%
Future return on equity10.68%
Analyst coverage

Good

Last updated23 Jun 2026

Recent future growth updates

Recent updates

Narrative Update • Jun 22

TCELL: Sustainability Oversight And Audit Strengthening Will Support Future Margin Upside

The analyst price target for Turkcell Iletisim Hizmetleri has been set at TRY 174.40. Analysts link this fair value to updated assumptions of a TRY 29.06 revenue growth rate, an 11.82% profit margin, a discount rate of 30.46% and a forward P/E of 13.31x.
Narrative Update • Jun 06

TCELL: 5G Broadband Expansion Will Support Future Re Rating Potential

Analysts have nudged their average price target for Turkcell Iletisim Hizmetleri higher from TRY150.93 to about TRY154.57, reflecting updated assumptions that include a slightly different revenue growth outlook, a higher profit margin and an adjusted future P/E expectation. What's in the News Turkcell and ZTE/Netas signed a new collaboration agreement in fixed wireless access, positioning the ZTE/Netas 5G and Wi Fi 7 based FWA solution within the Turkcell 5G Superbox ecosystem to support Turkcell's broadband vision.
Narrative Update • May 22

TCELL: Higher Fair Value And AI Partnerships Will Support Bullish Outlook

Analysts now set a higher fair value price target for Turkcell Iletisim Hizmetleri at TRY130.00, up from TRY106.93, reflecting updated views on discount rates, revenue growth, profit margins and future price-to-earnings (P/E) assumptions. What's in the News Shareholders approved the appointment of PwC as independent auditor for 2026, covering financial statement audits and sustainability assurance under Turkish Commercial Code and Capital Markets rules (Annual General Assembly, May 7, 2026).
Narrative Update • Apr 29

TCELL: 5G And AI Partnerships Will Support Future Margin Upside

Analysts have adjusted their TRY price target for Turkcell Iletisim Hizmetleri, reflecting updated assumptions that now combine slightly lower projected revenue growth with higher expected profit margins and a reduced future P/E multiple. What's in the News Annual General Assembly for 2025 activity is scheduled for May 7, 2026, with an agenda that includes discussing and resolving a proposed amendment to article 3 of the Articles of Association, for which approvals have been obtained from the Turkish Ministry of Trade and the Capital Markets Board (Key Developments).
Narrative Update • Apr 14

TCELL: 5G And AI Agreements Will Support Future Earnings Upside

Analysts have set their price target on Turkcell Iletisim Hizmetleri at TRY174.4, keeping it unchanged while refining assumptions around revenue growth, profit margin and future P/E expectations to reflect updated views on the company’s earnings profile. What's in the News Turkcell has called its 2025 Annual General Assembly Meeting for May 7, 2026, with plans to discuss and potentially approve an amendment to article 3 of its Articles of Association, after receiving required permits from the Turkish Ministry of Trade and the Capital Markets Board (Key Developments).
Narrative Update • Mar 31

TCELL: 5G And AI Partnerships Will Support Future Earnings Upside

Analysts have maintained their TRY 174.40 price target for Turkcell Iletisim Hizmetleri, citing adjusted assumptions around revenue growth, profitability and forward P/E that they view as better reflecting the company’s current risk and return profile. What's in the News Turkcell has called its 2025 Annual General Assembly Meeting for May 7, 2026, with plans to discuss and resolve a proposed amendment to article 3 of its Articles of Association, following approvals from the Turkish Ministry of Trade and the Capital Markets Board (Key Developments).
Narrative Update • Mar 17

TCELL: 5G And Cloud Initiatives Will Support Future Re Rating Potential

The consensus analyst price target for Turkcell Iletisim Hizmetleri has shifted from TRY147.98 to TRY150.93. Analysts attribute this change to updated fair value estimates that incorporate revised expectations for revenue growth, profit margins, and future P/E assumptions.
Narrative Update • Mar 03

TCELL: Licensing Amendments Will Support Future Re Rating Potential

Analysts have maintained their TRY147.98 price target for Turkcell Iletisim Hizmetleri, reflecting consistent assumptions on fair value, discount rate, growth and profitability in their latest update. What's in the News Capital Markets Board approved Turkcell Iletisim Hizmetleri A.S.'s application for amendments to its Articles of Association submitted on February 11, 2026, relating to its licensing and authorization framework for GSM and IMT services, including IMT 2000/UMTS infrastructure and services (Key Developments).
Narrative Update • Feb 17

TCELL: Governance Amendments Will Support Future Re-Rating Potential

Analysts have lifted their Turkcell Iletisim Hizmetleri price target from TRY141.78 to TRY147.98, citing updated assumptions around revenue growth, profit margins and future P/E levels. What's in the News The Board of Directors decided to pursue amendments to Turkcell Iletisim Hizmetleri A.S.'s Articles of Association, aligning them with the Capital Markets Law, the Turkish Commercial Code, and related legislation (Key Developments).
Narrative Update • Feb 03

TCELL: New Cloud Partnership Will Support Long-Term Earnings Upside

Analysts have nudged their fair value estimate for Turkcell Iletisim Hizmetleri higher from 171.0 to 174.4, citing slightly stronger projected revenue growth of about 40.6%, a modestly higher profit margin near 9.9%, and a small adjustment in the assumed future P/E multiple to roughly 16.2x. What's in the News Board of Directors plans to seek approvals from the Capital Markets Board and the Ministry of Trade to amend Turkcell Iletisim Hizmetleri A.S.'s Articles of Association, with final approval subject to the General Assembly (company filing).
Narrative Update • Jan 19

TCELL: Cloud Partnership And Guidance Update Will Shape Balanced Outlook

Analysts have trimmed their fair value estimate for Turkcell Iletisim Hizmetleri from 110.50 to 106.93, citing updated assumptions for revenue growth, profit margins and future P/E levels. What's in the News The Board of Directors plans to seek approvals from the Capital Markets Board and the Ministry of Trade to amend the Articles of Association, with final approval subject to the General Assembly (Key Developments).
Narrative Update • Jan 05

TCELL: Expanded 5G Spectrum Will Drive Long-Term Earnings Upside

Analysts have modestly raised their price target on Turkcell Iletisim Hizmetleri to $171.00 from $171.00, reflecting expectations for faster top line expansion, despite a more conservative view on profitability and a higher forward earnings multiple. What's in the News The Board of Directors has initiated a process to amend the Articles of Association.
Narrative Update • Dec 17

TCELL: Expanded 5G Spectrum Portfolio Will Support Long-Term Earnings Power

Analysts have trimmed their price target for Turkcell Iletisim Hizmetleri from approximately $189.46 to $171.00, citing expectations of stronger top line growth, offset by lower projected profit margins and a slightly higher discount rate. What's in the News Turkcell entered a major strategic partnership with Google Cloud to launch a new cloud region in Turkiye, boosting its data center and cloud capabilities and positioning the country as a regional hub for digital innovation (Key Developments).
Narrative Update • Dec 03

TCELL: New Cloud Region And 5G Spectrum Will Drive Long-Term Upside

Narrative Update on Turkcell Iletisim Hizmetleri Analysts have maintained their price target for Turkcell Iletisim Hizmetleri at approximately TRY 141.78, as slightly stronger long term revenue growth expectations offset modest pressure on forecast profit margins and a marginally higher future P E multiple. What's in the News Turkcell formed a major strategic partnership with Google Cloud to launch a new cloud region in Turkiye, significantly expanding its data center capacity and positioning the country as a regional hub for digital and AI innovation (Key Developments).
Narrative Update • Nov 19

TCELL: Cloud Expansion Will Drive AI Opportunities in Turkish Market

Narrative Update on Turkcell Iletisim Hizmetleri Analysts have revised their price target for Turkcell Iletisim Hizmetleri slightly downward to approximately ₺141.78 from ₺144.36. They cite changes in projected margins and a modest increase in the discount rate as key factors in their updated assessment.
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New Narrative • Dec 05

AI-Driven Cloud Expansion And Paycell's Growth Will Boost Earnings And Enhance Margins

Expansion in data center, cloud services, and Techfin segment, especially through Paycell, is expected to boost revenue and earnings growth.

Earnings and Revenue Growth Forecasts

IBSE:TCELL - Analysts future estimates and past financials data (TRY Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/2028474,48651,6712,812150,8144
12/31/2027385,39936,528-24,242131,7357
12/31/2026315,62027,993-72,31387,8415
3/31/2026247,08118,392-3,84988,345N/A
12/31/2025241,47117,79124,72696,620N/A
9/30/2025185,12213,87630,64084,780N/A
6/30/2025179,13312,58038,13488,242N/A
3/31/2025235,80315,49125,22196,173N/A
12/31/2024218,16014,52316,13682,799N/A
9/30/2024199,10233,46928,18682,778N/A
6/30/2024183,14624,62214,31166,008N/A
3/31/2024169,89019,21022,87672,726N/A
12/31/2023202,42920,00226,05068,648N/A
9/30/2023163,948-6,37519,77366,309N/A
6/30/2023141,02078222,48763,286N/A
3/31/2023112,6784,37216,84346,542N/A
12/31/202293,4876,03819,73446,268N/A
9/30/202248,0266,44216,32828,025N/A
6/30/202242,7185,47512,34422,523N/A
3/31/202238,7894,72912,32222,363N/A
12/31/202135,9215,03111,58921,171N/A
9/30/202133,6014,9495,35914,133N/A
6/30/202131,8964,7306,12615,096N/A
3/31/202130,2724,4695,83813,791N/A
12/31/202029,1044,2376,80714,088N/A
9/30/202027,9153,6916,89013,838N/A
6/30/202026,8533,2816,64612,658N/A
3/31/202026,1202,8955,74311,359N/A
12/31/201925,1372,474N/A9,881N/A
9/30/201924,0802,582N/A6,239N/A
6/30/201923,2922,022N/A6,654N/A
3/31/201922,2061,972N/A6,433N/A
12/31/201821,2922,021N/A5,830N/A
9/30/201820,3321,373N/A7,853N/A
6/30/201819,1301,732N/A6,059N/A
3/31/201818,3412,021N/A4,108N/A
12/31/201717,6321,979N/A3,101N/A
9/30/201717,0102,178N/A1,745N/A
6/30/201716,0711,745N/A1,664N/A
3/31/201715,1131,465N/A1,122N/A
12/31/201614,2861,554N/A1,218N/A
9/30/201613,5761,358N/A2,218N/A
6/30/201613,2821,821N/A1,932N/A
3/31/201613,0172,109N/A3,245N/A
12/31/201512,7691,703N/A2,663N/A
9/30/20158,9691,085N/A2,129N/A
6/30/201510,9811,658N/A1,936N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: TCELL's forecast earnings growth (34.2% per year) is above the savings rate (22.4%).

Earnings vs Market: TCELL's earnings (34.2% per year) are forecast to grow slower than the TR market (35.8% per year).

High Growth Earnings: TCELL's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: TCELL's revenue (22.7% per year) is forecast to grow slower than the TR market (23.7% per year).

High Growth Revenue: TCELL's revenue (22.7% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: TCELL's Return on Equity is forecast to be low in 3 years time (10.7%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/25 23:59
End of Day Share Price 2026/06/25 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Turkcell Iletisim Hizmetleri A.S. is covered by 36 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Tibor BokorArqaam Capital Research Offshore S.A.L.
null nullAta Invest
Sanvir DhillonBarclays