Upcoming Dividend • Apr 13
Upcoming dividend of ₺16.00 per share Eligible shareholders must have bought the stock before 20 April 2026. Payment date: 22 April 2026. Payout ratio is on the higher end at 77%, however this is supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Turkish dividend payers (2.6%). Lower than average of industry peers (1.2%). New Risk • Mar 24
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 8.0% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 04
Full year 2025 earnings released Full year 2025 results: Revenue: ₺457.5m (up 24% from FY 2024). Net income: ₺84.3m (up 18% from FY 2024). Profit margin: 18% (down from 20% in FY 2024). The decrease in margin was driven by higher expenses. Declared Dividend • Mar 02
Dividend increased to ₺16.00 Dividend of ₺16.00 is 14% higher than last year. Ex-date: 20th April 2026 Payment date: 22nd April 2026 Dividend yield will be 0.5%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (123% earnings payout ratio) nor is it covered by cash flows (191% cash payout ratio). The dividend has increased by an average of 40% per year over the past 4 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 37% to bring the payout ratio under control, which is more than the 33% EPS growth achieved over the last 5 years. Announcement • Feb 28
Kustur Kusadasi Turizm Endüstrisi A.S. announces Annual dividend, payable on April 22, 2026 Kustur Kusadasi Turizm Endüstrisi A.S. announced Annual dividend of TRY 16.0000 per share payable on April 22, 2026, ex-date on April 20, 2026 and record date on April 21, 2026. Announcement • Feb 27
Kustur Kusadasi Turizm Endüstrisi A.S., Annual General Meeting, Mar 25, 2026 Kustur Kusadasi Turizm Endüstrisi A.S., Annual General Meeting, Mar 25, 2026. Location: bayraklidede mahallesi kustur tatil koyu, aydin Turkey New Risk • Feb 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Profit margins are more than 30% lower than last year (14% net profit margin). New Risk • Sep 02
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 99x increase in shares outstanding. This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (over 99x increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (9.6% average weekly change). Profit margins are more than 30% lower than last year (14% net profit margin). Upcoming Dividend • Apr 14
Upcoming dividend of ₺14.00 per share Eligible shareholders must have bought the stock before 21 April 2025. Payment date: 24 April 2025. Payout ratio is on the higher end at 83%, and the cash payout ratio is above 100%. Trailing yield: 0.2%. Lower than top quartile of Turkish dividend payers (3.3%). Lower than average of industry peers (0.4%). Announcement • Feb 24
Kustur Kusadasi Turizm Endüstrisi A.S., Annual General Meeting, Mar 25, 2025 Kustur Kusadasi Turizm Endüstrisi A.S., Annual General Meeting, Mar 25, 2025. Location: bayraklidede mahallesi kustur tatil koyu, aydin Turkey Reported Earnings • Feb 24
Full year 2024 earnings released Full year 2024 results: Revenue: ₺368.7m (up 42% from FY 2023). Net income: ₺71.7m (down 55% from FY 2023). Profit margin: 20% (down from 62% in FY 2023). The decrease in margin was driven by higher expenses. Announcement • Feb 23
Kustur Kusadasi Turizm Endüstrisi A.S. announces Annual dividend, payable on April 24, 2025 Kustur Kusadasi Turizm Endüstrisi A.S. announced Annual dividend of TRY 14.0000 per share payable on April 24, 2025, ex-date on April 21, 2025 and record date on April 22, 2025. Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ₺2,703, the stock trades at a trailing P/E ratio of 79.6x. Average trailing P/E is 28x in the Hospitality industry in Turkey. Total returns to shareholders of 1,567% over the past three years. New Risk • Sep 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (10% average weekly change). Upcoming Dividend • May 01
Upcoming dividend of ₺6.44 per share Eligible shareholders must have bought the stock before 08 May 2024. Payment date: 10 May 2024. Payout ratio is a comfortable 17% and the cash payout ratio is 81%. Trailing yield: 0.1%. Lower than top quartile of Turkish dividend payers (2.1%). Lower than average of industry peers (1.7%). Reported Earnings • Apr 05
Full year 2023 earnings released: EPS: ₺0.38 (vs ₺13.40 in FY 2022) Full year 2023 results: EPS: ₺0.38. Revenue: ₺259.0m (up 150% from FY 2022). Net income: ₺159.8m (up 182% from FY 2022). Profit margin: 62% (up from 55% in FY 2022). The increase in margin was driven by higher revenue. New Risk • Mar 06
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 12% 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 (12% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Revenue is less than US$5m (₺131m revenue, or US$4.1m). New Risk • Feb 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Share price has been volatile over the past 3 months (11% average weekly change). Revenue is less than US$5m (₺131m revenue, or US$4.3m). Buying Opportunity • Oct 09
Now 22% undervalued Over the last 90 days, the stock is up 68%. The fair value is estimated to be ₺913, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 88% over the last 3 years. Earnings per share has grown by 92%. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to ₺860, the stock trades at a trailing P/E ratio of 50.5x. Average trailing P/E is 30x in the Hospitality industry in Turkey. Total returns to shareholders of 332% over the past three years. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to ₺651, the stock trades at a trailing P/E ratio of 38.2x. Average trailing P/E is 32x in the Hospitality industry in Turkey. Total returns to shareholders of 394% over the past three years. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₺480, the stock trades at a trailing P/E ratio of 28.2x. Average trailing P/E is 30x in the Hospitality industry in Turkey. Total returns to shareholders of 653% over the past three years. New Risk • Aug 09
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 99x increase in shares outstanding. This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (over 99x increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (dividend per share is over 38x cash flows per share). Share price has been volatile over the past 3 months (9.8% average weekly change). Revenue is less than US$5m (₺131m revenue, or US$4.9m). Reported Earnings • Aug 03
First half 2023 earnings released: EPS: ₺5.40 (vs ₺1.71 in 1H 2022) First half 2023 results: EPS: ₺5.40 (up from ₺1.71 in 1H 2022). Revenue: ₺42.1m (up 197% from 1H 2022). Net income: ₺22.9m (up 216% from 1H 2022). Profit margin: 55% (up from 51% in 1H 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 92% per year whereas the company’s share price has increased by 87% per year. Valuation Update With 7 Day Price Move • Jul 25
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₺375, the stock trades at a trailing P/E ratio of 28.1x. Average trailing P/E is 26x in the Hospitality industry in Turkey. Total returns to shareholders of 380% over the past three years. New Risk • Jul 19
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 9.3% 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: Major Risk High level of non-cash earnings (70% accrual ratio). Minor Risks Dividend is not well covered by cash flows (103% cash payout ratio). Share price has been volatile over the past 3 months (9.3% average weekly change). Profit margins are more than 30% lower than last year (55% net profit margin). Revenue is less than US$5m (₺103m revenue, or US$3.8m). Market cap is less than US$100m (₺1.88b market cap, or US$69.9m). Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₺350, the stock trades at a trailing P/E ratio of 26.2x. Average trailing P/E is 25x in the Hospitality industry in Turkey. Total returns to shareholders of 567% over the past three years. Upcoming Dividend • May 09
Upcoming dividend of ₺8.71 per share at 3.1% yield Eligible shareholders must have bought the stock before 16 May 2023. Payment date: 18 May 2023. Payout ratio is a comfortable 65% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Turkish dividend payers (4.0%). Higher than average of industry peers (1.1%). Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₺286, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 19x in the Hospitality industry in Turkey. Total returns to shareholders of 1,008% over the past three years. Buying Opportunity • Mar 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 32%. The fair value is estimated to be ₺327, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 45% over the last 3 years. Earnings per share has grown by 70%. Reported Earnings • Mar 06
Full year 2022 earnings released Full year 2022 results: Revenue: ₺103.4m (up 421% from FY 2021). Net income: ₺56.7m (up 244% from FY 2021). Profit margin: 55% (down from 83% in FY 2021). The decrease in margin was driven by higher expenses. Buying Opportunity • Mar 06
Now 26% undervalued after recent price drop Over the last 90 days, the stock is down 31%. The fair value is estimated to be ₺323, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Valuation Update With 7 Day Price Move • Dec 21
Investor sentiment improved over the past week After last week's 15% share price gain to ₺380, the stock trades at a trailing P/E ratio of 67.8x. Average trailing P/E is 24x in the Hospitality industry in Turkey. Total returns to shareholders of 1,401% over the past three years. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improved over the past week After last week's 18% share price gain to ₺277, the stock trades at a trailing P/E ratio of 49.4x. Average trailing P/E is 19x in the Hospitality industry in Turkey. Total returns to shareholders of 1,405% over the past three years. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Upcoming Dividend • Aug 17
Upcoming dividend of ₺3.65 per share Eligible shareholders must have bought the stock before 24 August 2022. Payment date: 26 August 2022. Trailing yield: 1.6%. Lower than top quartile of Turkish dividend payers (3.3%). Higher than average of industry peers (0.9%). Reported Earnings • Jul 31
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (up ₺91.9k from 1H 2021). Profit margin: (up from net loss in 1H 2021). The move to profitability was driven by lower expenses. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Feb 28
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: ₺19.8m (up 379% from FY 2020). Net income: ₺16.5m (up ₺15.0m from FY 2020). Profit margin: 83% (up from 35% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Reported Earnings • Aug 03
First half 2021 earnings released The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: ₺2.64m (up ₺2.60m from 1H 2020). Net loss: ₺91.9k (loss narrowed 87% from 1H 2020). Is New 90 Day High Low • Feb 19
New 90-day high: ₺242 The company is up 36% from its price of ₺178 on 20 November 2020. The Turkish market is up 12% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Hospitality industry, which is up 74% over the same period. Is New 90 Day High Low • Jan 18
New 90-day high: ₺222 The company is up 68% from its price of ₺132 on 20 October 2020. The Turkish market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 36% over the same period. Is New 90 Day High Low • Sep 27
New 90-day high: ₺209 The company is up 265% from its price of ₺57.25 on 29 June 2020. The Turkish market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 98% over the same period.