Hedef Holding（HEDEF）株式概要投資会社ヘデフ・ホールディングA.S.は、トルコの中小企業にエクイティ・ファイナンスを提供している。 詳細HEDEF ファンダメンタル分析スノーフレーク・スコア評価1/6将来の成長0/6過去の実績3/6財務の健全性4/6配当金0/6報酬今年は黒字化を達成 リスク分析高いレベルの非現金収入 すべてのリスクチェックを見るHEDEF Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair Value₺Current Price₺144.0027.0% 割安 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-2b7b2016201920222025202620282031Revenue ₺7.1bEarnings ₺4.7bAdvancedSet Fair ValueView all narrativesHedef Holding A.S 競合他社Tera Finansal Yatirimlar HoldingSymbol: IBSE:TRHOLMarket cap: ₺45.1bVerusa HoldingSymbol: IBSE:VERUSMarket cap: ₺41.0b1000 Yatirimlar Holding Anonim SirketiSymbol: IBSE:BINHOMarket cap: ₺11.7bGozde Girisim Sermayesi Yatirim OrtakligiSymbol: IBSE:GOZDEMarket cap: ₺7.2b価格と性能株価の高値、安値、推移の概要Hedef Holding過去の株価現在の株価₺144.0052週高値₺160.3052週安値₺7.23ベータ1.581ヶ月の変化9.51%3ヶ月変化50.79%1年変化1,797.23%3年間の変化4,026.07%5年間の変化n/aIPOからの変化42,261.04%最新ニュースNew Risk • May 07New major risk - Revenue and earnings growthEarnings have declined by 8.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 8.1% per year over the past 5 years. High level of non-cash earnings (31% accrual ratio).Reported Earnings • May 07First quarter 2026 earnings releasedFirst quarter 2026 results: Net loss: ₺246.4m (loss narrowed 29% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 258% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • Mar 19Hedef Holding A.S, Annual General Meeting, Apr 27, 2026Hedef Holding A.S, Annual General Meeting, Apr 27, 2026. Location: crowne plaza istanbul oryapark inkilap mahallesi, kucuksu caddesi, no: 58, 34768, umraniye, istanbul TurkeyReported Earnings • Mar 06Full year 2025 earnings releasedFull year 2025 results: Revenue: ₺2.62b (up ₺2.48b from FY 2024). Net income: ₺1.55b (up ₺2.83b from FY 2024). Profit margin: 59% (up from net loss in FY 2024). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 218% per year, which means it is well ahead of earnings.New Risk • Nov 17New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 28% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). High level of non-cash earnings (28% accrual ratio).Reported Earnings • Nov 03Third quarter 2025 earnings released: EPS: ₺0.30 (vs ₺0.29 loss in 3Q 2024)Third quarter 2025 results: EPS: ₺0.30 (up from ₺0.29 loss in 3Q 2024). Net income: ₺580.1m (up ₺1.12b from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 280 percentage points per year, which is a significant difference in performance.最新情報をもっと見るRecent updatesNew Risk • May 07New major risk - Revenue and earnings growthEarnings have declined by 8.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 8.1% per year over the past 5 years. High level of non-cash earnings (31% accrual ratio).Reported Earnings • May 07First quarter 2026 earnings releasedFirst quarter 2026 results: Net loss: ₺246.4m (loss narrowed 29% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 258% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • Mar 19Hedef Holding A.S, Annual General Meeting, Apr 27, 2026Hedef Holding A.S, Annual General Meeting, Apr 27, 2026. Location: crowne plaza istanbul oryapark inkilap mahallesi, kucuksu caddesi, no: 58, 34768, umraniye, istanbul TurkeyReported Earnings • Mar 06Full year 2025 earnings releasedFull year 2025 results: Revenue: ₺2.62b (up ₺2.48b from FY 2024). Net income: ₺1.55b (up ₺2.83b from FY 2024). Profit margin: 59% (up from net loss in FY 2024). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 218% per year, which means it is well ahead of earnings.New Risk • Nov 17New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 28% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). High level of non-cash earnings (28% accrual ratio).Reported Earnings • Nov 03Third quarter 2025 earnings released: EPS: ₺0.30 (vs ₺0.29 loss in 3Q 2024)Third quarter 2025 results: EPS: ₺0.30 (up from ₺0.29 loss in 3Q 2024). Net income: ₺580.1m (up ₺1.12b from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 280 percentage points per year, which is a significant difference in performance.Reported Earnings • Aug 14Second quarter 2025 earnings releasedSecond quarter 2025 results: Net income: ₺184.3m (up ₺585.6m from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 229 percentage points per year, which is a significant difference in performance.New Risk • Jul 23New major risk - Share price stabilityThe 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 Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 68% per year over the past 5 years. Revenue is less than US$1m.お知らせ • Mar 20Hedef Holding A.S, Annual General Meeting, Apr 22, 2025Hedef Holding A.S, Annual General Meeting, Apr 22, 2025. Location: at crowne plaza istanbul oryapark inkilap, mahallesi, kucuksu caddesi, no: 58, 34768, umraniye, istanbul, istanbul TurkeyReported Earnings • Mar 05Full year 2024 earnings released: ₺0.68 loss per share (vs ₺0.43 loss in FY 2023)Full year 2024 results: ₺0.68 loss per share (further deteriorated from ₺0.43 loss in FY 2023). Net loss: ₺1.28b (loss widened 59% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 180 percentage points per year, which is a significant difference in performance.New Risk • Feb 12New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Turkish stocks, typically moving 8.3% 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 Risks Share price has been highly volatile over the past 3 months (8.3% average weekly change). Earnings have declined by 56% per year over the past 5 years. Revenue is less than US$1m.New Risk • Jan 10New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Turkish stocks, typically moving 7.1% 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 Risks Earnings have declined by 56% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Share price has been volatile over the past 3 months (7.1% average weekly change).New Risk • Nov 01New major risk - Revenue sizeThe company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 49% per year over the past 5 years. Revenue is less than US$1m.Reported Earnings • Sep 21Second quarter 2024 earnings released: ₺1.07 loss per share (vs ₺0.097 profit in 2Q 2023)Second quarter 2024 results: ₺1.07 loss per share (down from ₺0.097 profit in 2Q 2023). Net loss: ₺401.3m (down 320% from profit in 2Q 2023).New Risk • Jun 19New major risk - Revenue and earnings growthEarnings have declined by 5.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company.Reported Earnings • Jun 10First quarter 2024 earnings released: ₺0.69 loss per share (vs ₺0.86 loss in 1Q 2023)First quarter 2024 results: ₺0.69 loss per share (improved from ₺0.86 loss in 1Q 2023). Net loss: ₺258.3m (loss narrowed 20% from 1Q 2023).Reported Earnings • Apr 28Full year 2023 earnings released: ₺2.14 loss per share (vs ₺3.46 profit in FY 2022)Full year 2023 results: ₺2.14 loss per share (down from ₺3.46 profit in FY 2022). Revenue: ₺750.5m (down 53% from FY 2022). Net loss: ₺803.0m (down 162% from profit in FY 2022).Valuation Update With 7 Day Price Move • Apr 01Investor sentiment improves as stock rises 15%After last week's 15% share price gain to ₺29.00, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 9x in the Capital Markets industry in Turkey. Total returns to shareholders of 28% over the past year.Valuation Update With 7 Day Price Move • Nov 22Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ₺29.20, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 7x in the Capital Markets industry in Turkey. Total returns to shareholders of 54% over the past year.Reported Earnings • Oct 28Third quarter 2023 earnings releasedThird quarter 2023 results: Revenue: ₺814.9m (up 62% from 3Q 2022). Net income: ₺606.2m (up 47% from 3Q 2022). Profit margin: 74% (down from 82% in 3Q 2022). The decrease in margin was driven by higher expenses.Valuation Update With 7 Day Price Move • Sep 25Investor sentiment improves as stock rises 18%After last week's 18% share price gain to ₺26.98, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 10x in the Capital Markets industry in Turkey. Total returns to shareholders of 207% over the past year.Reported Earnings • Aug 13Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: ₺196.2m (up 130% from 2Q 2022). Net income: ₺182.7m (up 161% from 2Q 2022). Profit margin: 93% (up from 82% in 2Q 2022). The increase in margin was primarily driven by higher revenue.Valuation Update With 7 Day Price Move • Aug 04Investor sentiment improves as stock rises 18%After last week's 18% share price gain to ₺23.56, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 10x in the Capital Markets industry in Turkey. Total returns to shareholders of 277% over the past year.Valuation Update With 7 Day Price Move • Jun 01Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ₺19.90, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 8x in the Capital Markets industry in Turkey. Total returns to shareholders of 300% over the past year.Valuation Update With 7 Day Price Move • Apr 17Investor sentiment deteriorates as stock falls 21%After last week's 21% share price decline to ₺20.74, the stock trades at a trailing P/E ratio of 6x. Average trailing P/E is 6x in the Capital Markets industry in Turkey. Total returns to shareholders of 327% over the past year.Valuation Update With 7 Day Price Move • Mar 31Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ₺21.50, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 6x in the Capital Markets industry in Turkey. Total returns to shareholders of 395% over the past year.Valuation Update With 7 Day Price Move • Mar 10Investor sentiment improves as stock rises 15%After last week's 15% share price gain to ₺18.35, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 7x in the Capital Markets industry in Turkey. Total returns to shareholders of 348% over the past year.Reported Earnings • Mar 06Full year 2022 earnings releasedFull year 2022 results: Revenue: ₺1.60b (up ₺1.52b from FY 2021). Net income: ₺1.30b (up ₺1.23b from FY 2021). Profit margin: 81% (down from 88% in FY 2021). The decrease in margin was driven by higher expenses.Valuation Update With 7 Day Price Move • Dec 06Investor sentiment improved over the past weekAfter last week's 21% share price gain to ₺23.00, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 14x in the Capital Markets industry in Turkey. Total returns to shareholders of 554% over the past year.Valuation Update With 7 Day Price Move • Nov 21Investor sentiment improved over the past weekAfter last week's 18% share price gain to ₺16.57, the stock trades at a trailing P/E ratio of 10.1x. Average trailing P/E is 10x in the Capital Markets industry in Turkey. Total returns to shareholders of 474% over the past year.Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non Executive Director Cihangir Yersel was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Valuation Update With 7 Day Price Move • Oct 27Investor sentiment improved over the past weekAfter last week's 21% share price gain to ₺12.10, the stock trades at a trailing P/E ratio of 63.1x. Average trailing P/E is 13x in the Capital Markets industry in Turkey. Total returns to shareholders of 391% over the past year.Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non Executive Director Cihangir Yersel was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Board Change • Oct 25Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non Executive Director Cihangir Yersel was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.株主還元HEDEFTR Capital MarketsTR 市場7D-1.8%-4.6%-3.9%1Y1,797.2%224.5%46.3%株主還元を見る業界別リターン: HEDEF過去 1 年間で224.5 % の収益を上げたTR Capital Markets業界を上回りました。リターン対市場: HEDEF過去 1 年間で46.3 % の収益を上げたTR市場を上回りました。価格変動Is HEDEF's price volatile compared to industry and market?HEDEF volatilityHEDEF Average Weekly Movement7.4%Capital Markets Industry Average Movement8.0%Market Average Movement7.2%10% most volatile stocks in TR Market10.6%10% least volatile stocks in TR Market5.2%安定した株価: HEDEF 、 TR市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: HEDEFの 週次ボラティリティ ( 7% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト199617Bulent Kirimlihedefholding.com投資会社ヘデフ・ホールディングA S.は、トルコの中小企業にエクイティ・ファイナンスを提供している。個人・機関投資家向けに投資アドバイザリー、コンサルティング、ポートフォリオ・マネジメント、コーポレート・ファイナンス・サービスを提供している。そのサービスは、M&A取引、戦略の策定と実行、デューデリジェンス、税務・法務コンサルティング、取引後の統合、株式公開、コスト管理、事業開発、株式公開サービスなど多岐にわたる。ヘデフ・ホールディングは1996年に設立され、トルコのイスタンブールに本社を置いている。もっと見るHedef Holding A.S 基礎のまとめHedef Holding の収益と売上を時価総額と比較するとどうか。HEDEF 基礎統計学時価総額₺280.72b収益（TTM）₺1.74b売上高(TTM)₺2.64b161.5xPER（株価収益率106.5xP/SレシオHEDEF は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計HEDEF 損益計算書（TTM）収益₺2.64b売上原価₺0売上総利益₺2.64bその他の費用₺896.98m収益₺1.74b直近の収益報告Mar 31, 2026次回決算日該当なし一株当たり利益（EPS）0.89グロス・マージン100.00%純利益率65.96%有利子負債／自己資本比率0.002%HEDEF の長期的なパフォーマンスは？過去の実績と比較を見るView Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/22 09:57終値2026/05/22 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Hedef Holding A.S 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。0
New Risk • May 07New major risk - Revenue and earnings growthEarnings have declined by 8.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 8.1% per year over the past 5 years. High level of non-cash earnings (31% accrual ratio).
Reported Earnings • May 07First quarter 2026 earnings releasedFirst quarter 2026 results: Net loss: ₺246.4m (loss narrowed 29% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 258% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • Mar 19Hedef Holding A.S, Annual General Meeting, Apr 27, 2026Hedef Holding A.S, Annual General Meeting, Apr 27, 2026. Location: crowne plaza istanbul oryapark inkilap mahallesi, kucuksu caddesi, no: 58, 34768, umraniye, istanbul Turkey
Reported Earnings • Mar 06Full year 2025 earnings releasedFull year 2025 results: Revenue: ₺2.62b (up ₺2.48b from FY 2024). Net income: ₺1.55b (up ₺2.83b from FY 2024). Profit margin: 59% (up from net loss in FY 2024). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 218% per year, which means it is well ahead of earnings.
New Risk • Nov 17New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 28% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). High level of non-cash earnings (28% accrual ratio).
Reported Earnings • Nov 03Third quarter 2025 earnings released: EPS: ₺0.30 (vs ₺0.29 loss in 3Q 2024)Third quarter 2025 results: EPS: ₺0.30 (up from ₺0.29 loss in 3Q 2024). Net income: ₺580.1m (up ₺1.12b from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 280 percentage points per year, which is a significant difference in performance.
New Risk • May 07New major risk - Revenue and earnings growthEarnings have declined by 8.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 8.1% per year over the past 5 years. High level of non-cash earnings (31% accrual ratio).
Reported Earnings • May 07First quarter 2026 earnings releasedFirst quarter 2026 results: Net loss: ₺246.4m (loss narrowed 29% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 258% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • Mar 19Hedef Holding A.S, Annual General Meeting, Apr 27, 2026Hedef Holding A.S, Annual General Meeting, Apr 27, 2026. Location: crowne plaza istanbul oryapark inkilap mahallesi, kucuksu caddesi, no: 58, 34768, umraniye, istanbul Turkey
Reported Earnings • Mar 06Full year 2025 earnings releasedFull year 2025 results: Revenue: ₺2.62b (up ₺2.48b from FY 2024). Net income: ₺1.55b (up ₺2.83b from FY 2024). Profit margin: 59% (up from net loss in FY 2024). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 218% per year, which means it is well ahead of earnings.
New Risk • Nov 17New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 28% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). High level of non-cash earnings (28% accrual ratio).
Reported Earnings • Nov 03Third quarter 2025 earnings released: EPS: ₺0.30 (vs ₺0.29 loss in 3Q 2024)Third quarter 2025 results: EPS: ₺0.30 (up from ₺0.29 loss in 3Q 2024). Net income: ₺580.1m (up ₺1.12b from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 280 percentage points per year, which is a significant difference in performance.
Reported Earnings • Aug 14Second quarter 2025 earnings releasedSecond quarter 2025 results: Net income: ₺184.3m (up ₺585.6m from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 229 percentage points per year, which is a significant difference in performance.
New Risk • Jul 23New major risk - Share price stabilityThe 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 Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 68% per year over the past 5 years. Revenue is less than US$1m.
お知らせ • Mar 20Hedef Holding A.S, Annual General Meeting, Apr 22, 2025Hedef Holding A.S, Annual General Meeting, Apr 22, 2025. Location: at crowne plaza istanbul oryapark inkilap, mahallesi, kucuksu caddesi, no: 58, 34768, umraniye, istanbul, istanbul Turkey
Reported Earnings • Mar 05Full year 2024 earnings released: ₺0.68 loss per share (vs ₺0.43 loss in FY 2023)Full year 2024 results: ₺0.68 loss per share (further deteriorated from ₺0.43 loss in FY 2023). Net loss: ₺1.28b (loss widened 59% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 180 percentage points per year, which is a significant difference in performance.
New Risk • Feb 12New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Turkish stocks, typically moving 8.3% 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 Risks Share price has been highly volatile over the past 3 months (8.3% average weekly change). Earnings have declined by 56% per year over the past 5 years. Revenue is less than US$1m.
New Risk • Jan 10New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Turkish stocks, typically moving 7.1% 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 Risks Earnings have declined by 56% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Share price has been volatile over the past 3 months (7.1% average weekly change).
New Risk • Nov 01New major risk - Revenue sizeThe company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 49% per year over the past 5 years. Revenue is less than US$1m.
Reported Earnings • Sep 21Second quarter 2024 earnings released: ₺1.07 loss per share (vs ₺0.097 profit in 2Q 2023)Second quarter 2024 results: ₺1.07 loss per share (down from ₺0.097 profit in 2Q 2023). Net loss: ₺401.3m (down 320% from profit in 2Q 2023).
New Risk • Jun 19New major risk - Revenue and earnings growthEarnings have declined by 5.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company.
Reported Earnings • Jun 10First quarter 2024 earnings released: ₺0.69 loss per share (vs ₺0.86 loss in 1Q 2023)First quarter 2024 results: ₺0.69 loss per share (improved from ₺0.86 loss in 1Q 2023). Net loss: ₺258.3m (loss narrowed 20% from 1Q 2023).
Reported Earnings • Apr 28Full year 2023 earnings released: ₺2.14 loss per share (vs ₺3.46 profit in FY 2022)Full year 2023 results: ₺2.14 loss per share (down from ₺3.46 profit in FY 2022). Revenue: ₺750.5m (down 53% from FY 2022). Net loss: ₺803.0m (down 162% from profit in FY 2022).
Valuation Update With 7 Day Price Move • Apr 01Investor sentiment improves as stock rises 15%After last week's 15% share price gain to ₺29.00, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 9x in the Capital Markets industry in Turkey. Total returns to shareholders of 28% over the past year.
Valuation Update With 7 Day Price Move • Nov 22Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ₺29.20, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 7x in the Capital Markets industry in Turkey. Total returns to shareholders of 54% over the past year.
Reported Earnings • Oct 28Third quarter 2023 earnings releasedThird quarter 2023 results: Revenue: ₺814.9m (up 62% from 3Q 2022). Net income: ₺606.2m (up 47% from 3Q 2022). Profit margin: 74% (down from 82% in 3Q 2022). The decrease in margin was driven by higher expenses.
Valuation Update With 7 Day Price Move • Sep 25Investor sentiment improves as stock rises 18%After last week's 18% share price gain to ₺26.98, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 10x in the Capital Markets industry in Turkey. Total returns to shareholders of 207% over the past year.
Reported Earnings • Aug 13Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: ₺196.2m (up 130% from 2Q 2022). Net income: ₺182.7m (up 161% from 2Q 2022). Profit margin: 93% (up from 82% in 2Q 2022). The increase in margin was primarily driven by higher revenue.
Valuation Update With 7 Day Price Move • Aug 04Investor sentiment improves as stock rises 18%After last week's 18% share price gain to ₺23.56, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 10x in the Capital Markets industry in Turkey. Total returns to shareholders of 277% over the past year.
Valuation Update With 7 Day Price Move • Jun 01Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ₺19.90, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 8x in the Capital Markets industry in Turkey. Total returns to shareholders of 300% over the past year.
Valuation Update With 7 Day Price Move • Apr 17Investor sentiment deteriorates as stock falls 21%After last week's 21% share price decline to ₺20.74, the stock trades at a trailing P/E ratio of 6x. Average trailing P/E is 6x in the Capital Markets industry in Turkey. Total returns to shareholders of 327% over the past year.
Valuation Update With 7 Day Price Move • Mar 31Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ₺21.50, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 6x in the Capital Markets industry in Turkey. Total returns to shareholders of 395% over the past year.
Valuation Update With 7 Day Price Move • Mar 10Investor sentiment improves as stock rises 15%After last week's 15% share price gain to ₺18.35, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 7x in the Capital Markets industry in Turkey. Total returns to shareholders of 348% over the past year.
Reported Earnings • Mar 06Full year 2022 earnings releasedFull year 2022 results: Revenue: ₺1.60b (up ₺1.52b from FY 2021). Net income: ₺1.30b (up ₺1.23b from FY 2021). Profit margin: 81% (down from 88% in FY 2021). The decrease in margin was driven by higher expenses.
Valuation Update With 7 Day Price Move • Dec 06Investor sentiment improved over the past weekAfter last week's 21% share price gain to ₺23.00, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 14x in the Capital Markets industry in Turkey. Total returns to shareholders of 554% over the past year.
Valuation Update With 7 Day Price Move • Nov 21Investor sentiment improved over the past weekAfter last week's 18% share price gain to ₺16.57, the stock trades at a trailing P/E ratio of 10.1x. Average trailing P/E is 10x in the Capital Markets industry in Turkey. Total returns to shareholders of 474% over the past year.
Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non Executive Director Cihangir Yersel was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Valuation Update With 7 Day Price Move • Oct 27Investor sentiment improved over the past weekAfter last week's 21% share price gain to ₺12.10, the stock trades at a trailing P/E ratio of 63.1x. Average trailing P/E is 13x in the Capital Markets industry in Turkey. Total returns to shareholders of 391% over the past year.
Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non Executive Director Cihangir Yersel was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Board Change • Oct 25Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non Executive Director Cihangir Yersel was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
