Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi

IBSE:AEFES Stock Report

Market Cap: ₺120.8b

Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi Future Growth

Future criteria checks 3/6

Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi is forecast to grow earnings and revenue by 31.4% and 22.3% per annum respectively. EPS is expected to grow by 30.8% per annum. Return on equity is forecast to be 14.4% in 3 years.

Key information

31.4%

Earnings growth rate

30.79%

EPS growth rate

Beverage earnings growth10.9%
Revenue growth rate22.3%
Future return on equity14.37%
Analyst coverage

Low

Last updated24 Apr 2026

Recent future growth updates

Recent updates

Narrative Update • Jun 05

AEFES: Higher Future P E And Steady Assumptions Will Support Further Upside

Analysts kept their TRY price target for Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi broadly steady, citing largely unchanged fair value estimates and model assumptions around discount rate, revenue, profit margin and future P/E. What's in the News No recent company specific news, periodical coverage or key developments were identified in the provided sources for Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi based on the latest data supplied.
Narrative Update • May 18

AEFES: Higher Future P E Assumptions Will Support Further Upside

Narrative Update Analysts have adjusted their price target for Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi slightly higher, from TRY25.13 to TRY25.43, citing updated assumptions for discount rate, revenue growth, profit margins, and future P/E multiples. Valuation Changes Fair Value: TRY25.13 to TRY25.43, risen slightly in the latest update.
Narrative Update • Apr 22

AEFES: Unchanged TRY 32 Fair Value Will Support Future Upside Potential

Analysts kept their TRY price target for Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi unchanged, highlighting a balance between lower projected revenue growth and profit margin and a higher assumed future P/E multiple in their updated models. Valuation Changes Fair Value: TRY32.0 remains unchanged, indicating the updated model keeps the same central value estimate.
Narrative Update • Apr 08

AEFES: Unchanged TRY 32 Fair Value Will Support Future Upside Potential

Analysts have maintained their TRY 32.00 price target for Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi, citing slightly firmer revenue growth and profit margin assumptions, along with a marginally lower forward P/E estimate. Valuation Changes Fair Value: TRY 32.0 is unchanged, indicating no revision to the headline valuation level.
Narrative Update • Mar 25

AEFES: Higher Future P/E Multiple Will Support Upside Potential

Analysts have kept their TRY 32.00 price target for Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi unchanged, citing revised assumptions for revenue growth, profit margin and future P/E that still support this valuation level. Valuation Changes Fair Value: TRY32.00 remains unchanged, indicating no adjustment to the central valuation estimate.
Narrative Update • Mar 09

AEFES: Higher Future P/E Assumptions Will Support Upside Potential

Analysts have lifted their price target on Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi from TRY 29.00 to TRY 32.00, citing updated assumptions for revenue growth, profit margins, and a higher future P/E multiple. Valuation Changes Fair Value: Increased from TRY 29.0 to TRY 32.0, indicating a moderate uplift in the assessed share value.
Narrative Update • Feb 23

AEFES: Higher Margins And Revenue Assumptions Will Support Future Upside

Analysts have lifted their price target for Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi from TRY21.98 to about TRY25.13, citing updated assumptions around revenue growth, profit margins, the discount rate, and a lower future P/E multiple. Valuation Changes Fair Value: TRY21.98 to TRY25.13, representing a moderate upward adjustment in the implied valuation range.
Narrative Update • Feb 09

AEFES: Fair Value View Will Balance Modest Margin And P E Shifts

Analysts have maintained their fair value estimate for Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi at $18.40 per share, attributing this to modest adjustments in revenue growth, profit margin and future P/E assumptions rather than any significant change in their overall view of the stock. Valuation Changes Fair Value Estimate: held steady at $18.40 per share, indicating no change in the central valuation outcome.
Narrative Update • Jan 26

AEFES: Fair Value View Will Balance Higher Margins And Required Return

Analysts have raised their price target for Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi from $16.00 to $18.40, citing updated assumptions around revenue growth, profit margins, and future P/E that contribute to a slightly higher fair value despite a modestly adjusted discount rate. Valuation Changes Fair Value: revised from $16.00 to $18.40, representing a modest upward shift in the assessed share value.
Narrative Update • Jan 11

AEFES: Higher Margins And Revenue Assumptions Will Support Upside Potential

Analysts have kept their fair value estimate for Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi unchanged at $29.00, citing updated assumptions for revenue growth, profit margin and a lower future P/E multiple as key drivers behind their latest target price work. Valuation Changes Fair value estimate remains unchanged at $29.00, indicating no adjustment to the headline valuation level.
Narrative Update • Dec 14

AEFES: Stronger Margins Expected To Drive Share Price Higher

Analysts have raised their price target on Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi from $27.40 to $29.00, citing higher expected revenue growth, improving profit margins, and a more attractive forward P/E multiple. Valuation Changes Fair Value: increased from 27.40 TRY to 29.00 TRY, reflecting a modest upward revision in the intrinsic valuation estimate.
Narrative Update • Oct 24

Expanding Premium Offerings And Emerging Markets Will Create Future Value

Analysts have slightly lowered their price target for Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi from ₺22.26 to ₺21.98, citing marginally moderated revenue growth projections and a modest uptick in estimated profit margins. Valuation Changes Consensus Analyst Price Target has decreased marginally, moving from TRY 22.26 to TRY 21.98.
Narrative Update • Oct 10

Expanding Premium Offerings And Emerging Markets Will Create Future Value

Analysts have revised their price target for Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi downward from ₺23.23 to ₺22.26, citing a slightly higher discount rate as well as moderated expectations for revenue growth and profit margin. Valuation Changes Fair Value Estimate: Decreased from TRY 23.23 to TRY 22.26.
Narrative Update • Aug 27

Expanding Premium Offerings And Emerging Markets Will Create Future Value

A decrease in Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi’s future P/E ratio indicates lowered earnings expectations, which has driven the consensus analyst price target down from TRY25.70 to TRY23.22. Valuation Changes Summary of Valuation Changes for Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi The Consensus Analyst Price Target has fallen from TRY25.70 to TRY23.22.
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New Narrative • Dec 22

Surging Beer Sales In Russia And CIS Markets Propel Revenue Growth And Earnings

Strong growth in the Russian beer market and effective strategies are expected to boost international revenue and profitability.

Earnings and Revenue Growth Forecasts

IBSE:AEFES - Analysts future estimates and past financials data (TRY Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/2028471,28022,61138,07878,2952
12/31/2027382,05418,40036,92070,3505
12/31/2026312,19613,99231,12557,0385
3/31/2026248,2398,70928,20845,557N/A
12/31/2025243,8478,95715,15634,153N/A
9/30/2025263,16011,0379,11131,533N/A
6/30/2025277,20213,2496,68631,309N/A
3/31/2025297,08414,8299,52735,101N/A
12/31/2024302,82517,16917,69942,426N/A
9/30/2024291,11326,13720,28241,918N/A
6/30/2024268,89432,56919,40738,520N/A
3/31/2024249,68833,26815,53131,739N/A
12/31/2023230,82931,95019,16034,409N/A
9/30/2023266,03435,97112,66729,464N/A
6/30/2023235,10624,1564,55718,268N/A
3/31/2023186,20818,79691312,184N/A
12/31/2022155,06015,3845,49714,550N/A
9/30/202279,0043,1778,20213,076N/A
6/30/202261,0361,6528,14012,470N/A
3/31/202246,8926414,7748,494N/A
12/31/202139,2841,0684,9578,073N/A
9/30/202134,7531,3924,6627,018N/A
6/30/202131,7061,2854,1796,307N/A
3/31/202128,3891,2243,9665,889N/A
12/31/202026,7438193,2274,972N/A
9/30/202025,3368903,9105,511N/A
6/30/202023,6341,0242,7824,470N/A
3/31/202023,6771,0991,5303,366N/A
12/31/201923,0771,031N/A4,157N/A
9/30/201922,390952N/A3,286N/A
6/30/201921,673303N/A3,728N/A
3/31/201919,894-83N/A2,938N/A
12/31/201818,690-12N/A2,818N/A
9/30/201816,908-324N/A3,177N/A
6/30/201814,593-4N/A2,387N/A
3/31/201813,016128N/A2,197N/A
12/31/201712,732149N/A2,190N/A
9/30/201712,344-91N/A2,184N/A
6/30/201711,580-213N/A1,999N/A
3/31/201710,913-216N/A1,853N/A
12/31/201610,420-71N/A1,876N/A
9/30/201610,210346N/A1,673N/A
6/30/201610,15274N/A1,801N/A
3/31/201610,20774N/A1,845N/A
12/31/201510,205-198N/A1,827N/A
9/30/201510,111-929N/A1,682N/A
6/30/20159,973-768N/A1,333N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: AEFES's forecast earnings growth (31.4% per year) is above the savings rate (22.4%).

Earnings vs Market: AEFES's earnings (31.4% per year) are forecast to grow slower than the TR market (33.7% per year).

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

Revenue vs Market: AEFES's revenue (22.3% per year) is forecast to grow slower than the TR market (23.1% per year).

High Growth Revenue: AEFES's revenue (22.3% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: AEFES's Return on Equity is forecast to be low in 3 years time (14.4%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/12 22:52
End of Day Share Price 2026/06/12 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

Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi is covered by 21 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
A.Onder ZorbaAta Invest
Hanzade KilickiranBarclays
Samar ChandBarclays