View Past PerformanceErciyas Çelik Boru Sanayi バランスシートの健全性財務の健全性 基準チェック /36Erciyas Çelik Boru Sanayiの総株主資本はTRY5.9B 、総負債はTRY6.5Bで、負債比率は110.8%となります。総資産と総負債はそれぞれTRY18.2BとTRY12.3Bです。 Erciyas Çelik Boru Sanayiの EBIT はTRY16.3Mで、利息カバレッジ比率-0です。現金および短期投資はTRY576.3Mです。主要情報110.81%負債資本比率₺6.53b負債インタレスト・カバレッジ・レシオ-0.01x現金₺576.25mエクイティ₺5.89b負債合計₺12.34b総資産₺18.24b財務の健全性に関する最新情報更新なしすべての更新を表示Recent updatesお知らせ • Apr 28Erciyas Çelik Boru Sanayi A.S., Annual General Meeting, May 21, 2026Erciyas Çelik Boru Sanayi A.S., Annual General Meeting, May 21, 2026. Location: barbaros mahallesi kardelen sokak no:2/1, palladium tower kat:-1 atasehir, istanbul TurkeyReported Earnings • Mar 15Full year 2025 earnings releasedFull year 2025 results: Revenue: ₺7.08b (down 2.4% from FY 2024). Net loss: ₺405.8m (down ₺434.4m from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance.New Risk • Feb 27New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ₺4.37b (US$99.3m) This is considered a minor risk. Companies with a small market capitalization 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 Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings have declined by 25% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₺4.37b market cap, or US$99.3m).New Risk • Nov 29New 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 8.5% 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 Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings have declined by 25% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (8.5% average weekly change).Buy Or Sell Opportunity • Aug 15Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 14% to ₺86.60. The fair value is estimated to be ₺72.09, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 37% over the last 3 years. Meanwhile, the company became loss making.お知らせ • Jun 17Erciyas Çelik Boru Sanayi A.S., Annual General Meeting, Jul 14, 2025Erciyas Çelik Boru Sanayi A.S., Annual General Meeting, Jul 14, 2025. Location: palladium tower barbaros mah kardelen sk, no:2/1 kat:-1 34746, atasehir istanbul, istanbul TurkeyNew Risk • May 20New major risk - Revenue and earnings growthEarnings have declined by 4.6% 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 Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Earnings have declined by 4.6% per year over the past 5 years.Buy Or Sell Opportunity • May 13Now 22% undervalued after recent price dropOver the last 90 days, the stock has fallen 12% to ₺77.40. The fair value is estimated to be ₺99.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 48% over the last 3 years. Earnings per share has grown by 9.2%.New Risk • Mar 21New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 45% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.4% net profit margin).Reported Earnings • Mar 12Full year 2024 earnings releasedFull year 2024 results: Revenue: ₺7.25b (down 12% from FY 2023). Net income: ₺28.6m (down 69% from FY 2023). Profit margin: 0.4% (down from 1.1% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Dec 05Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ₺109, the stock trades at a trailing P/E ratio of 76.5x. Average trailing P/E is 22x in the Metals and Mining industry in Turkey. Total loss to shareholders of 3.2% over the past year.New Risk • Nov 15New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 22% 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 Interest payments are not well covered by earnings (2.9x net interest cover). High level of non-cash earnings (22% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (1.4% net profit margin).Reported Earnings • Nov 13Third quarter 2024 earnings released: EPS: ₺0.54 (vs ₺0.20 loss in 3Q 2023)Third quarter 2024 results: EPS: ₺0.54 (up from ₺0.20 loss in 3Q 2023). Revenue: ₺5.19b (up 140% from 3Q 2023). Net income: ₺41.7m (up ₺57.5m from 3Q 2023). Profit margin: 0.8% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue.Reported Earnings • Aug 21Second quarter 2024 earnings released: EPS: ₺0.007 (vs ₺0.18 in 2Q 2023)Second quarter 2024 results: EPS: ₺0.007. Revenue: ₺1.91b (down 27% from 2Q 2023). Net income: ₺17.2m (up 21% from 2Q 2023). Profit margin: 0.9% (up from 0.5% in 2Q 2023). The increase in margin was driven by lower expenses.Reported Earnings • May 13First quarter 2024 earnings released: EPS: ₺0.43 (vs ₺0.31 in 1Q 2023)First quarter 2024 results: EPS: ₺0.43 (up from ₺0.31 in 1Q 2023). Revenue: ₺1.71b (up 4.4% from 1Q 2023). Net income: ₺33.4m (up 39% from 1Q 2023). Profit margin: 2.0% (up from 1.5% in 1Q 2023). The increase in margin was driven by higher revenue.お知らせ • Mar 18Erciyas Çelik Boru Sanayi A.S.(IBSE:ERCB) dropped from FTSE All-World Index (USD)Erciyas Çelik Boru Sanayi A.S.(IBSE:ERCB) dropped from FTSE All-World Index (USD)Reported Earnings • Mar 12Full year 2023 earnings released: EPS: ₺1.19 (vs ₺2.38 in FY 2022)Full year 2023 results: EPS: ₺1.19 (down from ₺2.38 in FY 2022). Revenue: ₺8.26b (up 135% from FY 2022). Net income: ₺92.2m (down 50% from FY 2022). Profit margin: 1.1% (down from 5.3% in FY 2022). The decrease in margin was driven by higher expenses.New Risk • Mar 04New 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 9.6% 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: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). 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 (1.7% net profit margin).Valuation Update With 7 Day Price Move • Dec 27Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ₺109, the stock trades at a trailing P/E ratio of 68x. Average trailing P/E is 11x in the Metals and Mining industry in Turkey. Total loss to shareholders of 33% over the past year.Valuation Update With 7 Day Price Move • Dec 11Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ₺127, the stock trades at a trailing P/E ratio of 79.3x. Average trailing P/E is 13x in the Metals and Mining industry in Turkey. Total loss to shareholders of 20% over the past year.New Risk • Nov 12New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.7% Last year net profit margin: 2.4% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.1x net interest cover). Minor Risk Profit margins are more than 30% lower than last year (1.7% net profit margin).Reported Earnings • Nov 12Third quarter 2023 earnings released: ₺0.20 loss per share (vs ₺0.46 profit in 3Q 2022)Third quarter 2023 results: ₺0.20 loss per share (down from ₺0.46 profit in 3Q 2022). Revenue: ₺2.16b (up 118% from 3Q 2022). Net loss: ₺15.8m (down 144% from profit in 3Q 2022).Valuation Update With 7 Day Price Move • Sep 25Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ₺145, the stock trades at a trailing P/E ratio of 64x. Average trailing P/E is 18x in the Metals and Mining industry in Turkey. Total returns to shareholders of 310% over the past year.Valuation Update With 7 Day Price Move • Aug 24Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to ₺122, the stock trades at a trailing P/E ratio of 53.7x. Average trailing P/E is 16x in the Metals and Mining industry in Turkey. Total returns to shareholders of 228% over the past year.Reported Earnings • Aug 20Second quarter 2023 earnings released: EPS: ₺0.18 (vs ₺0.34 in 2Q 2022)Second quarter 2023 results: EPS: ₺0.18 (down from ₺0.34 in 2Q 2022). Revenue: ₺2.61b (up 237% from 2Q 2022). Net income: ₺14.1m (down 46% from 2Q 2022). Profit margin: 0.5% (down from 3.4% in 2Q 2022). The decrease in margin was driven by higher expenses.Valuation Update With 7 Day Price Move • Jul 24Investor sentiment improves as stock rises 18%After last week's 18% share price gain to ₺141, the stock trades at a trailing P/E ratio of 58.3x. Average trailing P/E is 13x in the Metals and Mining industry in Turkey. Total returns to shareholders of 297% over the past year.Valuation Update With 7 Day Price Move • Jun 19Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ₺104, the stock trades at a trailing P/E ratio of 43x. Average trailing P/E is 10x in the Metals and Mining industry in Turkey. Total returns to shareholders of 200% over the past year.Valuation Update With 7 Day Price Move • Jun 05Investor sentiment improves as stock rises 22%After last week's 22% share price gain to ₺117, the stock trades at a trailing P/E ratio of 48.5x. Average trailing P/E is 11x in the Metals and Mining industry in Turkey. Total returns to shareholders of 212% over the past year.Valuation Update With 7 Day Price Move • May 22Investor sentiment improves as stock rises 25%After last week's 25% share price gain to ₺94.65, the stock trades at a trailing P/E ratio of 39.1x. Average trailing P/E is 9x in the Metals and Mining industry in Turkey. Total returns to shareholders of 164% over the past year.Reported Earnings • May 12First quarter 2023 earnings released: EPS: ₺0.31 (vs ₺0.27 in 1Q 2022)First quarter 2023 results: EPS: ₺0.31 (up from ₺0.27 in 1Q 2022). Revenue: ₺1.64b (up 121% from 1Q 2022). Net income: ₺24.1m (up 16% from 1Q 2022). Profit margin: 1.5% (down from 2.8% in 1Q 2022). The decrease in margin was driven by higher expenses.Board Change • Nov 16No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. No independent directors (7 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.Buying Opportunity • Oct 20Now 22% undervaluedOver the last 90 days, the stock is up 50%. The fair value is estimated to be ₺67.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 163% over the last year. Meanwhile, the company has become profitable.Valuation Update With 7 Day Price Move • Oct 10Investor sentiment improved over the past weekAfter last week's 23% share price gain to ₺42.48, the stock trades at a trailing P/E ratio of 57.6x. Average trailing P/E is 8x in the Metals and Mining industry in Turkey.Buying Opportunity • Jul 15Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 22%. The fair value is estimated to be ₺40.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 80% over the last year. Meanwhile, the company has become profitable.Buying Opportunity • Jun 30Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 22%. The fair value is estimated to be ₺41.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 80% over the last year. Meanwhile, the company has become profitable.Board Change • Apr 27No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. No independent directors (7 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 • Mar 17Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: ₺0.32 (down from ₺1.25 in FY 2020). Revenue: ₺1.05b (up 14% from FY 2020). Net income: ₺24.7m (down 67% from FY 2020). Profit margin: 2.3% (down from 8.1% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates.Valuation Update With 7 Day Price Move • Feb 24Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to ₺41.68, the stock trades at a trailing P/E ratio of 54.3x. Average trailing P/E is 11x in the Metals and Mining industry in Turkey.Board Change • Jan 14No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. was the last director to join the board, commencing their role in . The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.財務状況分析短期負債: ERCBの 短期資産 ( TRY9.3B ) が 短期負債 ( TRY5.3B ) を超えています。長期負債: ERCBの短期資産 ( TRY9.3B ) が 長期負債 ( TRY7.0B ) を上回っています。デット・ツー・エクイティの歴史と分析負債レベル: ERCBの 純負債対資本比率 ( 101% ) は 高い と見なされます。負債の削減: ERCBの負債対資本比率は、過去 5 年間で105%から110.8%に増加しました。債務返済能力: ERCBの 営業キャッシュフロー はマイナスであるため、負債は十分にカバーされていません。インタレストカバレッジ: ERCB支払う利息よりも稼ぐ利息の方が多いので、利息支払い の補償は問題になりません。貸借対照表健全な企業の発掘7D1Y7D1Y7D1YMaterials 業界の健全な企業。View Dividend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2026/06/09 15:56終値2026/06/09 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Erciyas Çelik Boru Sanayi 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
お知らせ • Apr 28Erciyas Çelik Boru Sanayi A.S., Annual General Meeting, May 21, 2026Erciyas Çelik Boru Sanayi A.S., Annual General Meeting, May 21, 2026. Location: barbaros mahallesi kardelen sokak no:2/1, palladium tower kat:-1 atasehir, istanbul Turkey
Reported Earnings • Mar 15Full year 2025 earnings releasedFull year 2025 results: Revenue: ₺7.08b (down 2.4% from FY 2024). Net loss: ₺405.8m (down ₺434.4m from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance.
New Risk • Feb 27New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ₺4.37b (US$99.3m) This is considered a minor risk. Companies with a small market capitalization 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 Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings have declined by 25% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₺4.37b market cap, or US$99.3m).
New Risk • Nov 29New 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 8.5% 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 Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings have declined by 25% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (8.5% average weekly change).
Buy Or Sell Opportunity • Aug 15Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 14% to ₺86.60. The fair value is estimated to be ₺72.09, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 37% over the last 3 years. Meanwhile, the company became loss making.
お知らせ • Jun 17Erciyas Çelik Boru Sanayi A.S., Annual General Meeting, Jul 14, 2025Erciyas Çelik Boru Sanayi A.S., Annual General Meeting, Jul 14, 2025. Location: palladium tower barbaros mah kardelen sk, no:2/1 kat:-1 34746, atasehir istanbul, istanbul Turkey
New Risk • May 20New major risk - Revenue and earnings growthEarnings have declined by 4.6% 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 Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Earnings have declined by 4.6% per year over the past 5 years.
Buy Or Sell Opportunity • May 13Now 22% undervalued after recent price dropOver the last 90 days, the stock has fallen 12% to ₺77.40. The fair value is estimated to be ₺99.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 48% over the last 3 years. Earnings per share has grown by 9.2%.
New Risk • Mar 21New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 45% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.4% net profit margin).
Reported Earnings • Mar 12Full year 2024 earnings releasedFull year 2024 results: Revenue: ₺7.25b (down 12% from FY 2023). Net income: ₺28.6m (down 69% from FY 2023). Profit margin: 0.4% (down from 1.1% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Dec 05Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ₺109, the stock trades at a trailing P/E ratio of 76.5x. Average trailing P/E is 22x in the Metals and Mining industry in Turkey. Total loss to shareholders of 3.2% over the past year.
New Risk • Nov 15New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 22% 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 Interest payments are not well covered by earnings (2.9x net interest cover). High level of non-cash earnings (22% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (1.4% net profit margin).
Reported Earnings • Nov 13Third quarter 2024 earnings released: EPS: ₺0.54 (vs ₺0.20 loss in 3Q 2023)Third quarter 2024 results: EPS: ₺0.54 (up from ₺0.20 loss in 3Q 2023). Revenue: ₺5.19b (up 140% from 3Q 2023). Net income: ₺41.7m (up ₺57.5m from 3Q 2023). Profit margin: 0.8% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue.
Reported Earnings • Aug 21Second quarter 2024 earnings released: EPS: ₺0.007 (vs ₺0.18 in 2Q 2023)Second quarter 2024 results: EPS: ₺0.007. Revenue: ₺1.91b (down 27% from 2Q 2023). Net income: ₺17.2m (up 21% from 2Q 2023). Profit margin: 0.9% (up from 0.5% in 2Q 2023). The increase in margin was driven by lower expenses.
Reported Earnings • May 13First quarter 2024 earnings released: EPS: ₺0.43 (vs ₺0.31 in 1Q 2023)First quarter 2024 results: EPS: ₺0.43 (up from ₺0.31 in 1Q 2023). Revenue: ₺1.71b (up 4.4% from 1Q 2023). Net income: ₺33.4m (up 39% from 1Q 2023). Profit margin: 2.0% (up from 1.5% in 1Q 2023). The increase in margin was driven by higher revenue.
お知らせ • Mar 18Erciyas Çelik Boru Sanayi A.S.(IBSE:ERCB) dropped from FTSE All-World Index (USD)Erciyas Çelik Boru Sanayi A.S.(IBSE:ERCB) dropped from FTSE All-World Index (USD)
Reported Earnings • Mar 12Full year 2023 earnings released: EPS: ₺1.19 (vs ₺2.38 in FY 2022)Full year 2023 results: EPS: ₺1.19 (down from ₺2.38 in FY 2022). Revenue: ₺8.26b (up 135% from FY 2022). Net income: ₺92.2m (down 50% from FY 2022). Profit margin: 1.1% (down from 5.3% in FY 2022). The decrease in margin was driven by higher expenses.
New Risk • Mar 04New 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 9.6% 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: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). 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 (1.7% net profit margin).
Valuation Update With 7 Day Price Move • Dec 27Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ₺109, the stock trades at a trailing P/E ratio of 68x. Average trailing P/E is 11x in the Metals and Mining industry in Turkey. Total loss to shareholders of 33% over the past year.
Valuation Update With 7 Day Price Move • Dec 11Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ₺127, the stock trades at a trailing P/E ratio of 79.3x. Average trailing P/E is 13x in the Metals and Mining industry in Turkey. Total loss to shareholders of 20% over the past year.
New Risk • Nov 12New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.7% Last year net profit margin: 2.4% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.1x net interest cover). Minor Risk Profit margins are more than 30% lower than last year (1.7% net profit margin).
Reported Earnings • Nov 12Third quarter 2023 earnings released: ₺0.20 loss per share (vs ₺0.46 profit in 3Q 2022)Third quarter 2023 results: ₺0.20 loss per share (down from ₺0.46 profit in 3Q 2022). Revenue: ₺2.16b (up 118% from 3Q 2022). Net loss: ₺15.8m (down 144% from profit in 3Q 2022).
Valuation Update With 7 Day Price Move • Sep 25Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ₺145, the stock trades at a trailing P/E ratio of 64x. Average trailing P/E is 18x in the Metals and Mining industry in Turkey. Total returns to shareholders of 310% over the past year.
Valuation Update With 7 Day Price Move • Aug 24Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to ₺122, the stock trades at a trailing P/E ratio of 53.7x. Average trailing P/E is 16x in the Metals and Mining industry in Turkey. Total returns to shareholders of 228% over the past year.
Reported Earnings • Aug 20Second quarter 2023 earnings released: EPS: ₺0.18 (vs ₺0.34 in 2Q 2022)Second quarter 2023 results: EPS: ₺0.18 (down from ₺0.34 in 2Q 2022). Revenue: ₺2.61b (up 237% from 2Q 2022). Net income: ₺14.1m (down 46% from 2Q 2022). Profit margin: 0.5% (down from 3.4% in 2Q 2022). The decrease in margin was driven by higher expenses.
Valuation Update With 7 Day Price Move • Jul 24Investor sentiment improves as stock rises 18%After last week's 18% share price gain to ₺141, the stock trades at a trailing P/E ratio of 58.3x. Average trailing P/E is 13x in the Metals and Mining industry in Turkey. Total returns to shareholders of 297% over the past year.
Valuation Update With 7 Day Price Move • Jun 19Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ₺104, the stock trades at a trailing P/E ratio of 43x. Average trailing P/E is 10x in the Metals and Mining industry in Turkey. Total returns to shareholders of 200% over the past year.
Valuation Update With 7 Day Price Move • Jun 05Investor sentiment improves as stock rises 22%After last week's 22% share price gain to ₺117, the stock trades at a trailing P/E ratio of 48.5x. Average trailing P/E is 11x in the Metals and Mining industry in Turkey. Total returns to shareholders of 212% over the past year.
Valuation Update With 7 Day Price Move • May 22Investor sentiment improves as stock rises 25%After last week's 25% share price gain to ₺94.65, the stock trades at a trailing P/E ratio of 39.1x. Average trailing P/E is 9x in the Metals and Mining industry in Turkey. Total returns to shareholders of 164% over the past year.
Reported Earnings • May 12First quarter 2023 earnings released: EPS: ₺0.31 (vs ₺0.27 in 1Q 2022)First quarter 2023 results: EPS: ₺0.31 (up from ₺0.27 in 1Q 2022). Revenue: ₺1.64b (up 121% from 1Q 2022). Net income: ₺24.1m (up 16% from 1Q 2022). Profit margin: 1.5% (down from 2.8% in 1Q 2022). The decrease in margin was driven by higher expenses.
Board Change • Nov 16No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. No independent directors (7 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.
Buying Opportunity • Oct 20Now 22% undervaluedOver the last 90 days, the stock is up 50%. The fair value is estimated to be ₺67.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 163% over the last year. Meanwhile, the company has become profitable.
Valuation Update With 7 Day Price Move • Oct 10Investor sentiment improved over the past weekAfter last week's 23% share price gain to ₺42.48, the stock trades at a trailing P/E ratio of 57.6x. Average trailing P/E is 8x in the Metals and Mining industry in Turkey.
Buying Opportunity • Jul 15Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 22%. The fair value is estimated to be ₺40.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 80% over the last year. Meanwhile, the company has become profitable.
Buying Opportunity • Jun 30Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 22%. The fair value is estimated to be ₺41.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 80% over the last year. Meanwhile, the company has become profitable.
Board Change • Apr 27No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. No independent directors (7 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 • Mar 17Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: ₺0.32 (down from ₺1.25 in FY 2020). Revenue: ₺1.05b (up 14% from FY 2020). Net income: ₺24.7m (down 67% from FY 2020). Profit margin: 2.3% (down from 8.1% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates.
Valuation Update With 7 Day Price Move • Feb 24Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to ₺41.68, the stock trades at a trailing P/E ratio of 54.3x. Average trailing P/E is 11x in the Metals and Mining industry in Turkey.
Board Change • Jan 14No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. was the last director to join the board, commencing their role in . The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.