Declared Dividend • Mar 15
Dividend of ₺166 announced Shareholders will receive a dividend of ₺166. Ex-date: 30th April 2026 Payment date: 5th May 2026 Dividend yield will be 7.5%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by earnings (76% earnings payout ratio) but not covered by cash flows (dividend approximately 5x free cash flows). The dividend has increased by an average of 72% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 98% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 13
Borusan Yatirim ve Pazarlama A.S. announces Annual dividend, payable on May 05, 2026 Borusan Yatirim ve Pazarlama A.S. announced Annual dividend of TRY 166.1458 per share payable on May 05, 2026, ex-date on April 30, 2026 and record date on May 04, 2026. Announcement • Mar 11
Borusan Yatirim ve Pazarlama A.S., Annual General Meeting, Apr 07, 2026 Borusan Yatirim ve Pazarlama A.S., Annual General Meeting, Apr 07, 2026. Location: istinye mahallesi sariyer caddesi no.77 sariyer, istanbul Turkey Reported Earnings • Mar 10
Full year 2025 earnings released: EPS: ₺1.65 (vs ₺72.29 in FY 2024) Full year 2025 results: EPS: ₺1.65. Net income: ₺4.64b (up 128% from FY 2024). New Risk • Oct 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Turkish stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.6% average weekly change). Revenue is less than US$5m (₺90m revenue, or US$2.1m). Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₺2,227, the stock trades at a trailing P/E ratio of 29.4x. Average trailing P/E is 6x in the Diversified Financial industry in Turkey. Total returns to shareholders of 224% over the past three years. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to ₺2,848, the stock trades at a trailing P/E ratio of 37.7x. Average trailing P/E is 7x in the Diversified Financial industry in Turkey. Total returns to shareholders of 605% over the past three years. Reported Earnings • May 15
First quarter 2025 earnings released First quarter 2025 results: Net income: ₺355.0m (up 35% from 1Q 2024). Announcement • Apr 28
Ceva Logistics AG signed a binding agreement to acquire Borusan Tedarik Zinciri Cozumleri Ve Teknoloji Anonim Sirketi from Borusan Yatirim ve Pazarlama A.S. (IBSE:BRYAT) and Borusan Holding A.S. for $440 million. Ceva Logistics AG signed a binding agreement to acquire Borusan Tedarik Zinciri Cozumleri Ve Teknoloji Anonim Sirketi from Borusan Yatirim ve Pazarlama A.S. (IBSE:BRYAT) and Borusan Holding A.S. for $440 million on April 26, 2025. The signed share transfer agreement lists a total transfer price of $440 million subject to ordinary net cash and working capital adjustments. Privately held Borusan Holding has 69.47 percent of Borusan Tedarik’s shares, while the remaining 30.53 percent is held by publicly traded Borusan Yatirim. The acquisition would nearly double the size of CEVA’s domestic warehousing and distribution operations, adding approximately 570,000 square meters to its existing 620,000 square meters of warehouse space. In addition, the combined ground transport activities would execute nearly 1 million domestic transports per year, while Borusan Tedarik’s activities would also strengthen CEVA’s existing network connecting with Europe. The deal, which includes Borusan Tedarik subsidiaries in Germany, Bulgaria, Hong Kong and China, remains subject to customary closing conditions and regulatory approvals. Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₺2,204, the stock trades at a trailing P/E ratio of 30.5x. Average trailing P/E is 6x in the Diversified Financial industry in Turkey. Total returns to shareholders of 515% over the past three years. Upcoming Dividend • Apr 24
Upcoming dividend of ₺58.57 per share Eligible shareholders must have bought the stock before 30 April 2025. Payment date: 05 May 2025. Payout ratio is on the higher end at 76%, and the cash payout ratio is above 100%. Trailing yield: 2.5%. Lower than top quartile of Turkish dividend payers (3.2%). In line with average of industry peers (2.5%). Declared Dividend • Mar 28
Dividend increased to ₺58.57 Dividend of ₺58.57 is 27% higher than last year. Ex-date: 30th April 2025 Payment date: 5th May 2025 Dividend yield will be 3.0%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by earnings (76% earnings payout ratio) but not covered by cash flows (147% cash payout ratio). The dividend has increased by an average of 84% per year over the past 8 years. However, payments have been volatile during that time. Earnings per share has grown by 98% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 27
Borusan Yatirim ve Pazarlama A.S., Annual General Meeting, Apr 22, 2025 Borusan Yatirim ve Pazarlama A.S., Annual General Meeting, Apr 22, 2025. Location: istinye mahallesi sariyer caddesi no.77, sariyer, istanbul Turkey Reported Earnings • Mar 10
Full year 2024 earnings released Full year 2024 results: Net income: ₺2.03b (down 10% from FY 2023). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has increased by 76% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₺2,161, the stock trades at a trailing P/E ratio of 35.8x. Average trailing P/E is 5x in the Diversified Financial industry in Turkey. Total returns to shareholders of 499% over the past three years. Reported Earnings • Nov 13
Third quarter 2024 earnings released Third quarter 2024 results: Net income: ₺501.1m (down 17% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has increased by 76% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₺1,993, the stock trades at a trailing P/E ratio of 31.1x. Average trailing P/E is 5x in the Diversified Financial industry in Turkey. Total returns to shareholders of 531% over the past three years. Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₺2,007, the stock trades at a trailing P/E ratio of 31.3x. Average trailing P/E is 5x in the Diversified Financial industry in Turkey. Total returns to shareholders of 394% over the past three years. Reported Earnings • May 11
First quarter 2024 earnings released First quarter 2024 results: Net income: ₺263.8m (down 56% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has increased by 98% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₺3,720, the stock trades at a trailing P/E ratio of 46.1x. Average trailing P/E is 6x in the Diversified Financial industry in Turkey. Total returns to shareholders of 858% over the past three years. Reported Earnings • Mar 07
Full year 2023 earnings released: EPS: ₺0.81 (vs ₺43.72 in FY 2022) Full year 2023 results: EPS: ₺0.81. Net income: ₺2.27b (up 85% from FY 2022). Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₺4,500, the stock trades at a trailing P/E ratio of 58.9x. Average trailing P/E is 6x in the Diversified Financial industry in Turkey. Total returns to shareholders of 858% over the past three years. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₺3,615, the stock trades at a trailing P/E ratio of 47.4x. Average trailing P/E is 6x in the Diversified Financial industry in Turkey. Total returns to shareholders of 652% over the past three years. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₺2,830, the stock trades at a trailing P/E ratio of 37.1x. Average trailing P/E is 5x in the Diversified Financial industry in Turkey. Total returns to shareholders of 536% over the past three years. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₺2,630, the stock trades at a trailing P/E ratio of 34.5x. Average trailing P/E is 6x in the Diversified Financial industry in Turkey. Total returns to shareholders of 912% over the past three years. Reported Earnings • Nov 08
Third quarter 2023 earnings released Third quarter 2023 results: Net income: ₺603.6m (up 83% from 3Q 2022). Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₺2,606, the stock trades at a trailing P/E ratio of 39.1x. Average trailing P/E is 7x in the Diversified Financial industry in Turkey. Total returns to shareholders of 1,514% over the past three years. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₺2,530, the stock trades at a trailing P/E ratio of 38x. Average trailing P/E is 7x in the Diversified Financial industry in Turkey. Total returns to shareholders of 2,815% over the past three years. Reported Earnings • Aug 11
Second quarter 2023 earnings released Second quarter 2023 results: Net income: ₺545.3m (up 102% from 2Q 2022). Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₺1,873, the stock trades at a trailing P/E ratio of 33x. Average trailing P/E is 6x in the Diversified Financial industry in Turkey. Total returns to shareholders of 2,380% over the past three years. New Risk • Jul 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Turkish stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₺1,249, the stock trades at a trailing P/E ratio of 22x. Average trailing P/E is 5x in the Diversified Financial industry in Turkey. Total returns to shareholders of 1,767% over the past three years. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₺966, the stock trades at a trailing P/E ratio of 17x. Average trailing P/E is 5x in the Diversified Financial industry in Turkey. Total returns to shareholders of 1,328% over the past three years. Reported Earnings • May 07
First quarter 2023 earnings released First quarter 2023 results: Revenue: ₺131.6m (down 10% from 1Q 2022). Net income: ₺596.2m (up 161% from 1Q 2022). Valuation Update With 7 Day Price Move • May 03
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₺752, the stock trades at a trailing P/E ratio of 17.2x. Average trailing P/E is 6x in the Diversified Financial industry in Turkey. Total returns to shareholders of 1,238% over the past three years. Upcoming Dividend • Mar 24
Upcoming dividend of ₺14.53 per share at 1.7% yield Eligible shareholders must have bought the stock before 31 March 2023. Payment date: 04 April 2023. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Turkish dividend payers (2.8%). Lower than average of industry peers (2.7%). Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₺760, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 6x in the Diversified Financial industry in Turkey. Total returns to shareholders of 1,697% over the past three years. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₺715, the stock trades at a trailing P/E ratio of 21.9x. Average trailing P/E is 9x in the Diversified Financial industry in Turkey. Total returns to shareholders of 1,030% over the past three years. Valuation Update With 7 Day Price Move • Dec 14
Investor sentiment improved over the past week After last week's 26% share price gain to ₺1,313, the stock trades at a trailing P/E ratio of 40.3x. Average trailing P/E is 13x in the Diversified Financial industry in Turkey. Total returns to shareholders of 2,896% over the past three years. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). Independent Director Sabri Ar was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improved over the past week After last week's 25% share price gain to ₺956, the stock trades at a trailing P/E ratio of 29.3x. Average trailing P/E is 9x in the Diversified Financial industry in Turkey. Total returns to shareholders of 2,620% over the past three years. Reported Earnings • Nov 02
Third quarter 2022 earnings released Third quarter 2022 results: Net income: ₺330.1m (up 237% from 3Q 2021). Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment improved over the past week After last week's 23% share price gain to ₺730, the stock trades at a trailing P/E ratio of 30x. Average trailing P/E is 10x in the Diversified Financial industry in Turkey. Total returns to shareholders of 2,133% over the past three years. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₺553, the stock trades at a trailing P/E ratio of 22.7x. Average trailing P/E is 9x in the Diversified Financial industry in Turkey. Total returns to shareholders of 1,564% over the past three years. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 15% share price gain to ₺515, the stock trades at a trailing P/E ratio of 21.1x. Average trailing P/E is 9x in the Diversified Financial industry in Turkey. Total returns to shareholders of 1,460% over the past three years. Reported Earnings • Aug 10
Second quarter 2022 earnings released Second quarter 2022 results: Net income: ₺269.4m (up ₺237.9m from 2Q 2021). Reported Earnings • May 08
First quarter 2022 earnings released First quarter 2022 results: Revenue: ₺146.7m (up 270% from 1Q 2021). Net income: ₺228.2m (up 311% from 1Q 2021). Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). Independent Director Sabri Ar was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improved over the past week After last week's 18% share price gain to ₺403, the stock trades at a trailing P/E ratio of 41.2x. Average trailing P/E is 12x in the Diversified Financial industry in Turkey. Total returns to shareholders of 1,064% over the past three years. Reported Earnings • Mar 05
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Net income: ₺274.6m (up 80% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has increased by 104% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₺350, the stock trades at a trailing P/E ratio of 39.1x. Average trailing P/E is 17x in the Diversified Financial industry in Turkey. Total returns to shareholders of 905% over the past three years. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₺360, the stock trades at a trailing P/E ratio of 54.1x. Average trailing P/E is 25x in the Diversified Financial industry in Turkey. Total returns to shareholders of 886% over the past three years. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improved over the past week After last week's 17% share price gain to ₺445, the stock trades at a trailing P/E ratio of 66.9x. Average trailing P/E is 27x in the Diversified Financial industry in Turkey. Total returns to shareholders of 1,109% over the past three years. Reported Earnings • Aug 24
Second quarter 2021 earnings released Second quarter 2021 results: Net income: ₺31.5m (flat on 2Q 2020). Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has increased by 126% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment improved over the past week After last week's 18% share price gain to ₺360, the stock trades at a trailing P/E ratio of 54.1x. Average trailing P/E is 29x in the Diversified Financial industry in Turkey. Total returns to shareholders of 918% over the past three years. Reported Earnings • May 13
First quarter 2021 earnings released First quarter 2021 results: Net income: ₺55.6m (up 164% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has increased by 106% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₺341, the stock trades at a trailing P/E ratio of 62.9x. Average trailing P/E is 38x in the Diversified Financial industry in Turkey. Total returns to shareholders of 847% over the past three years. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment deteriorated over the past week After last week's 20% share price decline to ₺399, the stock trades at a trailing P/E ratio of 73.6x. Average trailing P/E is 48x in the Diversified Financial industry in Turkey. Total returns to shareholders of 990% over the past three years. Valuation Update With 7 Day Price Move • Dec 09
Market bids up stock over the past week After last week's 17% share price gain to ₺270, the stock is trading at a trailing P/E ratio of 69x, up from the previous P/E ratio of 59.1x. This compares to an average P/E of 23x in the Diversified Financial industry in Turkey. Total returns to shareholders over the past three years are 582%. Valuation Update With 7 Day Price Move • Dec 07
Market bids up stock over the past week After last week's 26% share price gain to ₺260, the stock is trading at a trailing P/E ratio of 66.5x, up from the previous P/E ratio of 52.8x. This compares to an average P/E of 23x in the Diversified Financial industry in Turkey. Total returns to shareholders over the past three years are 561%. Is New 90 Day High Low • Dec 04
New 90-day high: ₺237 The company is up 181% from its price of ₺84.35 on 04 September 2020. The Turkish market is up 22% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is up 9.0% over the same period. Valuation Update With 7 Day Price Move • Nov 24
Market bids up stock over the past week After last week's 21% share price gain to ₺234, the stock is trading at a trailing P/E ratio of 59.9x, up from the previous P/E ratio of 49.6x. This compares to an average P/E of 22x in the Diversified Financial industry in Turkey. Total returns to shareholders over the past three years are 566%. Valuation Update With 7 Day Price Move • Nov 16
Market bids up stock over the past week After last week's 16% share price gain to ₺208, the stock is trading at a trailing P/E ratio of 58.3x, up from the previous P/E ratio of 50.3x. This compares to an average P/E of 22x in the Diversified Financial industry in Turkey. Total returns to shareholders over the past three years are 492%. Is New 90 Day High Low • Nov 11
New 90-day high: ₺217 The company is up 148% from its price of ₺87.50 on 13 August 2020. The Turkish market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is up 10.0% over the same period. Valuation Update With 7 Day Price Move • Nov 06
Market bids up stock over the past week After last week's 16% share price gain to ₺182, the stock is trading at a trailing P/E ratio of 50.9x, up from the previous P/E ratio of 43.7x. This compares to an average P/E of 22x in the Diversified Financial industry in Turkey. Total returns to shareholders over the past three years are 386%. Valuation Update With 7 Day Price Move • Oct 26
Market pulls back on stock over the past week After last week's 16% share price decline to ₺150, the stock is trading at a trailing P/E ratio of 42.1x, down from the previous P/E ratio of 50.1x. This compares to an average P/E of 27x in the Diversified Financial industry in Turkey. Total returns to shareholders over the past three years are 296%. Valuation Update With 7 Day Price Move • Oct 12
Market pulls back on stock over the past week After last week's 18% share price decline to ₺159, the stock is trading at a trailing P/E ratio of 44.6x, down from the previous P/E ratio of 54.3x. This compares to an average P/E of 26x in the Diversified Financial industry in Turkey. Total returns to shareholders over the past three years are 325%. 