Smartiks Yazilim（SMART）株式概要Smartiks Yazilim A.S.はトルコでビジネスソリューション、ソフトウェア開発、コンサルティングサービスを提供しています。 詳細SMART ファンダメンタル分析スノーフレーク・スコア評価2/6将来の成長0/6過去の実績0/6財務の健全性3/6配当金0/6報酬当社が推定した公正価値より75.9%で取引されている リスク分析TR市場と比較して、過去 3 か月間の株価の変動が非常に大きい意味のある時価総額がありません ( TRY1B )意味のある収益がありません ( TRY168M )すべてのリスクチェックを見るSMART 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₺35.882.6% 割高 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-42m658m2016201920222025202620282031Revenue ₺657.6mEarnings ₺79.4mAdvancedSet Fair ValueView all narrativesSmartiks Yazilim A.S. 競合他社Kron TeknolojiSymbol: IBSE:KRONTMarket cap: ₺1.6bForte Bilgi Iletisim Teknolojileri ve Savunma SanayiSymbol: IBSE:FORTEMarket cap: ₺6.2bLogo Yazilim Sanayi ve TicaretSymbol: IBSE:LOGOMarket cap: ₺14.5bMIA Teknoloji Anonim SirketiSymbol: IBSE:MIATKMarket cap: ₺25.2b価格と性能株価の高値、安値、推移の概要Smartiks Yazilim過去の株価現在の株価₺35.8852週高値₺42.5252週安値₺21.46ベータ1.381ヶ月の変化6.47%3ヶ月変化15.74%1年変化42.38%3年間の変化354.75%5年間の変化529.47%IPOからの変化1,137.24%最新ニュースBuy Or Sell Opportunity • May 08Now 22% undervaluedOver the last 90 days, the stock has risen 59% to ₺36.24. The fair value is estimated to be ₺46.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Meanwhile, the company became loss making.Buy Or Sell Opportunity • Apr 21Now 23% undervaluedOver the last 90 days, the stock has risen 53% to ₺35.18. The fair value is estimated to be ₺45.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Meanwhile, the company became loss making.New Risk • Feb 20New 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 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Revenue is less than US$5m (₺192m revenue, or US$4.4m). Market cap is less than US$100m (₺892.2m market cap, or US$20.4m).お知らせ • Oct 03Smartiks Yazilim A.S., Annual General Meeting, Oct 30, 2025Smartiks Yazilim A.S., Annual General Meeting, Oct 30, 2025. Location: sahrayicedit mahallesi, halk sokak kayalar, is merkezi no:39/a, kadikoy-istanbul, istanbul TurkeyValuation Update With 7 Day Price Move • Mar 21Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to ₺24.46, the stock trades at a trailing P/E ratio of 63.3x. Average trailing P/E is 28x in the Software industry in Turkey. Total returns to shareholders of 351% over the past three years.New Risk • Mar 19New 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 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Profit margins are more than 30% lower than last year (6.1% net profit margin). Market cap is less than US$100m (₺831.6m market cap, or US$21.9m).最新情報をもっと見るRecent updatesBuy Or Sell Opportunity • May 08Now 22% undervaluedOver the last 90 days, the stock has risen 59% to ₺36.24. The fair value is estimated to be ₺46.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Meanwhile, the company became loss making.Buy Or Sell Opportunity • Apr 21Now 23% undervaluedOver the last 90 days, the stock has risen 53% to ₺35.18. The fair value is estimated to be ₺45.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Meanwhile, the company became loss making.New Risk • Feb 20New 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 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Revenue is less than US$5m (₺192m revenue, or US$4.4m). Market cap is less than US$100m (₺892.2m market cap, or US$20.4m).お知らせ • Oct 03Smartiks Yazilim A.S., Annual General Meeting, Oct 30, 2025Smartiks Yazilim A.S., Annual General Meeting, Oct 30, 2025. Location: sahrayicedit mahallesi, halk sokak kayalar, is merkezi no:39/a, kadikoy-istanbul, istanbul TurkeyValuation Update With 7 Day Price Move • Mar 21Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to ₺24.46, the stock trades at a trailing P/E ratio of 63.3x. Average trailing P/E is 28x in the Software industry in Turkey. Total returns to shareholders of 351% over the past three years.New Risk • Mar 19New 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 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Profit margins are more than 30% lower than last year (6.1% net profit margin). Market cap is less than US$100m (₺831.6m market cap, or US$21.9m).Reported Earnings • Mar 13Full year 2024 earnings releasedFull year 2024 results: Revenue: ₺202.7m (up 21% from FY 2023). Net income: ₺12.3m (down 73% from FY 2023). Profit margin: 6.1% (down from 27% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has increased by 80% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Jan 23Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ₺32.90, the stock trades at a trailing P/E ratio of 47.9x. Average trailing P/E is 45x in the Software industry in Turkey. Total returns to shareholders of 540% over the past three years.Reported Earnings • Nov 10Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: ₺48.1m (up 37% from 3Q 2023). Net income: ₺6.25m (down 76% from 3Q 2023). Profit margin: 13% (down from 73% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has increased by 84% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • Oct 25Smartiks Yazilim A.S., Annual General Meeting, Nov 21, 2024Smartiks Yazilim A.S., Annual General Meeting, Nov 21, 2024. Location: ytu yildiz teknopark, ciftehavuzlar mahallesi eski, londra asfalti, caddesi, no:151/e, d:2 blok, z06 esenler, istanbul TurkeyNew Risk • Sep 30New minor risk - Revenue sizeThe company makes less than US$5m in revenue. Total revenue: ₺163m (US$4.8m) This is considered a minor 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 Risk High level of non-cash earnings (35% accrual ratio). Minor Risks Revenue is less than US$5m (₺163m revenue, or US$4.8m). Market cap is less than US$100m (₺927.8m market cap, or US$27.2m).Reported Earnings • Sep 15Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: ₺54.0m (up 65% from 2Q 2023). Net income: ₺16.2m (up 19% from 2Q 2023). Profit margin: 30% (down from 42% in 2Q 2023). The decrease in margin was driven by higher expenses.New Risk • Jun 24New major risk - Revenue and earnings growthEarnings have declined by 1.9% 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 1.9% per year over the past 5 years. High level of non-cash earnings (23% accrual ratio). Minor Risk Market cap is less than US$100m (₺1.18b market cap, or US$36.1m).Reported Earnings • Jun 17First quarter 2024 earnings released: EPS: ₺0.29 (vs ₺0.21 in 1Q 2023)First quarter 2024 results: EPS: ₺0.29 (up from ₺0.21 in 1Q 2023). Revenue: ₺38.2m (up 92% from 1Q 2023). Net income: ₺9.41m (up 43% from 1Q 2023). Profit margin: 25% (down from 33% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has increased by 90% per year, which means it is tracking significantly ahead of earnings growth.Reported Earnings • May 08Full year 2023 earnings releasedFull year 2023 results: Revenue: ₺167.6m (up 184% from FY 2022). Net income: ₺45.0m (up ₺38.1m from FY 2022). Profit margin: 27% (up from 12% in FY 2022). The increase in margin was driven by higher revenue.Valuation Update With 7 Day Price Move • Apr 23Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ₺49.50, the stock trades at a trailing P/E ratio of 33.8x. Average trailing P/E is 60x in the Software industry in Turkey. Total returns to shareholders of 686% over the past three years.Valuation Update With 7 Day Price Move • Mar 14Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ₺51.20, the stock trades at a trailing P/E ratio of 34.9x. Average trailing P/E is 46x in the Software industry in Turkey. Total returns to shareholders of 557% over the past three years.Valuation Update With 7 Day Price Move • Feb 28Investor sentiment improves as stock rises 41%After last week's 41% share price gain to ₺66.80, the stock trades at a trailing P/E ratio of 45.5x. Average trailing P/E is 58x in the Software industry in Turkey. Total returns to shareholders of 721% over the past three years.Valuation Update With 7 Day Price Move • Jan 29Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ₺37.70, the stock trades at a trailing P/E ratio of 25.7x. Average trailing P/E is 37x in the Software industry in Turkey. Total returns to shareholders of 326% over the past three years.Valuation Update With 7 Day Price Move • Dec 07Investor sentiment improves as stock rises 35%After last week's 35% share price gain to ₺44.78, the stock trades at a trailing P/E ratio of 30.5x. Average trailing P/E is 37x in the Software industry in Turkey. Total returns to shareholders of 489% over the past three years.New Risk • Nov 22New 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 13% 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 (13% average weekly change). High level of non-cash earnings (38% accrual ratio). Minor Risks Revenue is less than US$5m (₺117m revenue, or US$4.1m). Market cap is less than US$100m (₺813.8m market cap, or US$28.3m).Reported Earnings • Nov 10Third quarter 2023 earnings released: EPS: ₺0.80 (vs ₺0.05 in 3Q 2022)Third quarter 2023 results: EPS: ₺0.80 (up from ₺0.05 in 3Q 2022). Revenue: ₺35.1m (up 206% from 3Q 2022). Net income: ₺25.5m (up ₺23.9m from 3Q 2022). Profit margin: 73% (up from 14% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Nov 02Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to ₺18.46, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 31x in the Software industry in Turkey. Total returns to shareholders of 135% over the past three years.Valuation Update With 7 Day Price Move • Oct 18Investor sentiment deteriorates as stock falls 23%After last week's 23% share price decline to ₺19.85, the stock trades at a trailing P/E ratio of 27.7x. Average trailing P/E is 31x in the Software industry in Turkey. Total returns to shareholders of 133% over the past three years.Valuation Update With 7 Day Price Move • Sep 27Investor sentiment improves as stock rises 22%After last week's 22% share price gain to ₺16.72, the stock trades at a trailing P/E ratio of 23.4x. Average trailing P/E is 25x in the Software industry in Turkey. Total returns to shareholders of 87% over the past three years.Valuation Update With 7 Day Price Move • Aug 24Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ₺13.38, the stock trades at a trailing P/E ratio of 18.7x. Average trailing P/E is 20x in the Software industry in Turkey. Total returns to shareholders of 81% over the past three years.New Risk • Aug 18New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 24% 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 Risk High level of non-cash earnings (24% accrual ratio). Minor Risks Revenue is less than US$5m (₺93m revenue, or US$3.4m). Market cap is less than US$100m (₺488.1m market cap, or US$18.0m).Reported Earnings • Aug 18Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: ₺32.7m (up 278% from 2Q 2022). Net income: ₺13.6m (up ₺13.1m from 2Q 2022). Profit margin: 42% (up from 6.4% in 2Q 2022).Valuation Update With 7 Day Price Move • Jul 20Investor sentiment improves as stock rises 22%After last week's 22% share price gain to ₺13.60, the stock trades at a trailing P/E ratio of 44.5x. Average trailing P/E is 21x in the Software industry in Turkey. Total returns to shareholders of 60% over the past three years.Valuation Update With 7 Day Price Move • Jul 05Investor sentiment improves as stock rises 18%After last week's 18% share price gain to ₺9.56, the stock trades at a trailing P/E ratio of 31.3x. Average trailing P/E is 18x in the Software industry in Turkey. Total returns to shareholders of 6.2% over the past three years.New Risk • Jun 23New major risk - Market cap sizeThe company's market capitalization is less than US$10m. Market cap: ₺244.7m (US$9.57m) This is considered a major 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 Earnings have declined by 0.4% per year over the past 5 years. Market cap is less than US$10m (₺244.7m market cap, or US$9.57m). Minor Risks Large one-off items impacting financial results. Revenue is less than US$5m (₺69m revenue, or US$2.7m).Valuation Update With 7 Day Price Move • May 20Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ₺8.03, the stock trades at a trailing P/E ratio of 26.3x. Average trailing P/E is 14x in the Software industry in Turkey. Total loss to shareholders of 18% over the past three years.Reported Earnings • May 12First quarter 2023 earnings releasedFirst quarter 2023 results: Revenue: ₺19.9m (up 105% from 1Q 2022). Net income: ₺6.57m (up 78% from 1Q 2022). Profit margin: 33% (down from 38% in 1Q 2022).Reported Earnings • Mar 16Full year 2022 earnings releasedFull year 2022 results: Revenue: ₺59.0m (up 62% from FY 2021). Net income: ₺6.86m (up 80% from FY 2021). Profit margin: 12% (up from 11% in FY 2021).Valuation Update With 7 Day Price Move • Feb 10Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ₺7.41, the stock trades at a trailing P/E ratio of 29.4x. Average trailing P/E is 15x in the Software industry in Turkey. Total loss to shareholders of 29% over the past three years.Valuation Update With 7 Day Price Move • Nov 28Investor sentiment improved over the past weekAfter last week's 27% share price gain to ₺12.62, the stock trades at a trailing P/E ratio of 50x. Average trailing P/E is 25x in the Software industry in Turkey. Total returns to shareholders of 52% over the past three years.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. Chairman of the Board Ali Kalyoncu was the last 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.Reported Earnings • Nov 10Third quarter 2022 earnings released: EPS: ₺0.049 (vs ₺0.03 loss in 3Q 2021)Third quarter 2022 results: EPS: ₺0.049 (up from ₺0.03 loss in 3Q 2021). Revenue: ₺11.5m (up 61% from 3Q 2021). Net income: ₺1.55m (up ₺2.49m from 3Q 2021). Profit margin: 14% (up from net loss in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Oct 11Investor sentiment improved over the past weekAfter last week's 22% share price gain to ₺7.76, the stock trades at a trailing P/E ratio of 44.5x. Average trailing P/E is 17x in the Software industry in Turkey. Total returns to shareholders of 229% over the past three years.Reported Earnings • Aug 23Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: ₺8.63m (up 19% from 2Q 2021). Net income: ₺553.2k (up 47% from 2Q 2021). Profit margin: 6.4% (up from 5.2% in 2Q 2021).Valuation Update With 7 Day Price Move • Jun 21Investor sentiment improved over the past weekAfter last week's 18% share price gain to ₺6.30, the stock trades at a trailing P/E ratio of 37.4x. Average trailing P/E is 18x in the Software industry in Turkey. Total returns to shareholders of 128% over the past three years.Reported Earnings • May 12First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: ₺0.12 (up from ₺0.067 in 1Q 2021). Revenue: ₺9.75m (up 31% from 1Q 2021). Net income: ₺3.70m (up 73% from 1Q 2021). Profit margin: 38% (up from 29% in 1Q 2021). Revenue missed analyst estimates by 9.7%. Earnings per share (EPS) also missed analyst estimates by 24%. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings.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. Chairman of the Board Ali Kalyoncu was the last 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.Reported Earnings • Mar 13Full year 2021 earnings: EPS and revenues miss analyst expectationsFull year 2021 results: EPS: ₺0.12 (up from ₺0.12 in FY 2020). Revenue: ₺36.4m (up 34% from FY 2020). Net income: ₺3.81m (up 2.0% from FY 2020). Profit margin: 11% (down from 14% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 9.7%. Earnings per share (EPS) also missed analyst estimates by 24%.Valuation Update With 7 Day Price Move • Dec 27Investor sentiment improved over the past weekAfter last week's 15% share price gain to ₺5.63, the stock trades at a trailing P/E ratio of 65x. Average trailing P/E is 42x in the Software industry in Turkey. Total loss to shareholders of 40% over the past year.Reported Earnings • Nov 11Third quarter 2021 earnings released: ₺0.029 loss per share (vs ₺0.03 profit in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: ₺7.14m (down 11% from 3Q 2020). Net loss: ₺935.6k (down 199% from profit in 3Q 2020).Reported Earnings • Aug 21Second quarter 2021 earnings released: EPS ₺0.012 (vs ₺0.007 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₺7.25m (up 53% from 2Q 2020). Net income: ₺375.3k (up 69% from 2Q 2020). Profit margin: 5.2% (up from 4.7% in 2Q 2020).Valuation Update With 7 Day Price Move • Apr 21Investor sentiment deteriorated over the past weekAfter last week's 20% share price decline to ₺5.25, the stock trades at a trailing P/E ratio of 44.7x. Average trailing P/E is 38x in the Software industry in Asia. Total loss to shareholders of 46% over the past year.Reported Earnings • Feb 23Full year 2020 earnings releasedThe company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: ₺27.2m (flat on FY 2019). Net income: ₺3.74m (down 52% from FY 2019). Profit margin: 14% (down from 29% in FY 2019).Is New 90 Day High Low • Dec 22New 90-day high: ₺9.99The company is up 21% from its price of ₺8.24 on 23 September 2020. The Turkish market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 1.0% over the same period.Valuation Update With 7 Day Price Move • Dec 21Investor sentiment improved over the past weekAfter last week's 19% share price gain to ₺9.09, the stock is trading at a trailing P/E ratio of 49x, up from the previous P/E ratio of 41.1x. This compares to an average P/E of 37x in the Software industry in Asia. Total returns to shareholders over the past year are 9.5%.Reported Earnings • Nov 07Third quarter 2020 earnings released: EPS ₺0.03The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: ₺8.03m (up 39% from 3Q 2019). Net income: ₺941.6k (down 54% from 3Q 2019). Profit margin: 12% (down from 35% in 3Q 2019). The decrease in margin was driven by higher expenses.Is New 90 Day High Low • Oct 12New 90-day high: ₺9.11The company is up 7.0% from its price of ₺8.55 on 14 July 2020. The Turkish market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Software industry, which is down 10.0% over the same period.株主還元SMARTTR SoftwareTR 市場7D-1.6%3.1%-0.4%1Y42.4%27.2%48.8%株主還元を見る業界別リターン: SMART過去 1 年間で27.2 % の収益を上げたTR Software業界を上回りました。リターン対市場: SMARTは、過去 1 年間で48.8 % のリターンを上げたTR市場を下回りました。価格変動Is SMART's price volatile compared to industry and market?SMART volatilitySMART Average Weekly Movement11.1%Software Industry Average Movement9.0%Market Average Movement7.3%10% most volatile stocks in TR Market10.8%10% least volatile stocks in TR Market5.2%安定した株価: SMARTの株価は、 TR市場と比較して過去 3 か月間で変動しています。時間の経過による変動: SMARTの weekly volatility ( 11% ) は過去 1 年間安定していますが、依然としてTRの株式の 75% よりも高くなっています。会社概要設立従業員CEO（最高経営責任者ウェブサイト200676Cihan Bilginwww.smartiks.com.trSmartiks Yazilim A.S.はトルコでビジネスソリューション、ソフトウェア開発、コンサルティングサービスを提供している。そのソリューションには、データセキュリティ、アウトソーシング、分析・プロセス管理、データサイエンス、データウェアハウス、顧客関係管理、人事、企業向けソフトウェア開発ソリューションなどがある。同社は2006年に法人化され、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Smartiks Yazilim A.S. 基礎のまとめSmartiks Yazilim の収益と売上を時価総額と比較するとどうか。SMART 基礎統計学時価総額₺1.14b収益（TTM）-₺42.45m売上高(TTM)₺168.14m6.8xP/Sレシオ-26.9xPER（株価収益率SMART 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SMART 損益計算書（TTM）収益₺168.14m売上原価₺47.99m売上総利益₺120.14mその他の費用₺162.60m収益-₺42.45m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）-1.33グロス・マージン71.46%純利益率-25.25%有利子負債／自己資本比率24.1%SMART 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2026/05/25 15:20終値2026/05/25 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Smartiks Yazilim 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
Buy Or Sell Opportunity • May 08Now 22% undervaluedOver the last 90 days, the stock has risen 59% to ₺36.24. The fair value is estimated to be ₺46.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Meanwhile, the company became loss making.
Buy Or Sell Opportunity • Apr 21Now 23% undervaluedOver the last 90 days, the stock has risen 53% to ₺35.18. The fair value is estimated to be ₺45.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Meanwhile, the company became loss making.
New Risk • Feb 20New 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 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Revenue is less than US$5m (₺192m revenue, or US$4.4m). Market cap is less than US$100m (₺892.2m market cap, or US$20.4m).
お知らせ • Oct 03Smartiks Yazilim A.S., Annual General Meeting, Oct 30, 2025Smartiks Yazilim A.S., Annual General Meeting, Oct 30, 2025. Location: sahrayicedit mahallesi, halk sokak kayalar, is merkezi no:39/a, kadikoy-istanbul, istanbul Turkey
Valuation Update With 7 Day Price Move • Mar 21Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to ₺24.46, the stock trades at a trailing P/E ratio of 63.3x. Average trailing P/E is 28x in the Software industry in Turkey. Total returns to shareholders of 351% over the past three years.
New Risk • Mar 19New 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 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Profit margins are more than 30% lower than last year (6.1% net profit margin). Market cap is less than US$100m (₺831.6m market cap, or US$21.9m).
Buy Or Sell Opportunity • May 08Now 22% undervaluedOver the last 90 days, the stock has risen 59% to ₺36.24. The fair value is estimated to be ₺46.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Meanwhile, the company became loss making.
Buy Or Sell Opportunity • Apr 21Now 23% undervaluedOver the last 90 days, the stock has risen 53% to ₺35.18. The fair value is estimated to be ₺45.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Meanwhile, the company became loss making.
New Risk • Feb 20New 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 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Revenue is less than US$5m (₺192m revenue, or US$4.4m). Market cap is less than US$100m (₺892.2m market cap, or US$20.4m).
お知らせ • Oct 03Smartiks Yazilim A.S., Annual General Meeting, Oct 30, 2025Smartiks Yazilim A.S., Annual General Meeting, Oct 30, 2025. Location: sahrayicedit mahallesi, halk sokak kayalar, is merkezi no:39/a, kadikoy-istanbul, istanbul Turkey
Valuation Update With 7 Day Price Move • Mar 21Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to ₺24.46, the stock trades at a trailing P/E ratio of 63.3x. Average trailing P/E is 28x in the Software industry in Turkey. Total returns to shareholders of 351% over the past three years.
New Risk • Mar 19New 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 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Profit margins are more than 30% lower than last year (6.1% net profit margin). Market cap is less than US$100m (₺831.6m market cap, or US$21.9m).
Reported Earnings • Mar 13Full year 2024 earnings releasedFull year 2024 results: Revenue: ₺202.7m (up 21% from FY 2023). Net income: ₺12.3m (down 73% from FY 2023). Profit margin: 6.1% (down from 27% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has increased by 80% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Jan 23Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ₺32.90, the stock trades at a trailing P/E ratio of 47.9x. Average trailing P/E is 45x in the Software industry in Turkey. Total returns to shareholders of 540% over the past three years.
Reported Earnings • Nov 10Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: ₺48.1m (up 37% from 3Q 2023). Net income: ₺6.25m (down 76% from 3Q 2023). Profit margin: 13% (down from 73% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has increased by 84% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • Oct 25Smartiks Yazilim A.S., Annual General Meeting, Nov 21, 2024Smartiks Yazilim A.S., Annual General Meeting, Nov 21, 2024. Location: ytu yildiz teknopark, ciftehavuzlar mahallesi eski, londra asfalti, caddesi, no:151/e, d:2 blok, z06 esenler, istanbul Turkey
New Risk • Sep 30New minor risk - Revenue sizeThe company makes less than US$5m in revenue. Total revenue: ₺163m (US$4.8m) This is considered a minor 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 Risk High level of non-cash earnings (35% accrual ratio). Minor Risks Revenue is less than US$5m (₺163m revenue, or US$4.8m). Market cap is less than US$100m (₺927.8m market cap, or US$27.2m).
Reported Earnings • Sep 15Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: ₺54.0m (up 65% from 2Q 2023). Net income: ₺16.2m (up 19% from 2Q 2023). Profit margin: 30% (down from 42% in 2Q 2023). The decrease in margin was driven by higher expenses.
New Risk • Jun 24New major risk - Revenue and earnings growthEarnings have declined by 1.9% 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 1.9% per year over the past 5 years. High level of non-cash earnings (23% accrual ratio). Minor Risk Market cap is less than US$100m (₺1.18b market cap, or US$36.1m).
Reported Earnings • Jun 17First quarter 2024 earnings released: EPS: ₺0.29 (vs ₺0.21 in 1Q 2023)First quarter 2024 results: EPS: ₺0.29 (up from ₺0.21 in 1Q 2023). Revenue: ₺38.2m (up 92% from 1Q 2023). Net income: ₺9.41m (up 43% from 1Q 2023). Profit margin: 25% (down from 33% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has increased by 90% per year, which means it is tracking significantly ahead of earnings growth.
Reported Earnings • May 08Full year 2023 earnings releasedFull year 2023 results: Revenue: ₺167.6m (up 184% from FY 2022). Net income: ₺45.0m (up ₺38.1m from FY 2022). Profit margin: 27% (up from 12% in FY 2022). The increase in margin was driven by higher revenue.
Valuation Update With 7 Day Price Move • Apr 23Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ₺49.50, the stock trades at a trailing P/E ratio of 33.8x. Average trailing P/E is 60x in the Software industry in Turkey. Total returns to shareholders of 686% over the past three years.
Valuation Update With 7 Day Price Move • Mar 14Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ₺51.20, the stock trades at a trailing P/E ratio of 34.9x. Average trailing P/E is 46x in the Software industry in Turkey. Total returns to shareholders of 557% over the past three years.
Valuation Update With 7 Day Price Move • Feb 28Investor sentiment improves as stock rises 41%After last week's 41% share price gain to ₺66.80, the stock trades at a trailing P/E ratio of 45.5x. Average trailing P/E is 58x in the Software industry in Turkey. Total returns to shareholders of 721% over the past three years.
Valuation Update With 7 Day Price Move • Jan 29Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ₺37.70, the stock trades at a trailing P/E ratio of 25.7x. Average trailing P/E is 37x in the Software industry in Turkey. Total returns to shareholders of 326% over the past three years.
Valuation Update With 7 Day Price Move • Dec 07Investor sentiment improves as stock rises 35%After last week's 35% share price gain to ₺44.78, the stock trades at a trailing P/E ratio of 30.5x. Average trailing P/E is 37x in the Software industry in Turkey. Total returns to shareholders of 489% over the past three years.
New Risk • Nov 22New 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 13% 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 (13% average weekly change). High level of non-cash earnings (38% accrual ratio). Minor Risks Revenue is less than US$5m (₺117m revenue, or US$4.1m). Market cap is less than US$100m (₺813.8m market cap, or US$28.3m).
Reported Earnings • Nov 10Third quarter 2023 earnings released: EPS: ₺0.80 (vs ₺0.05 in 3Q 2022)Third quarter 2023 results: EPS: ₺0.80 (up from ₺0.05 in 3Q 2022). Revenue: ₺35.1m (up 206% from 3Q 2022). Net income: ₺25.5m (up ₺23.9m from 3Q 2022). Profit margin: 73% (up from 14% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Nov 02Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to ₺18.46, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 31x in the Software industry in Turkey. Total returns to shareholders of 135% over the past three years.
Valuation Update With 7 Day Price Move • Oct 18Investor sentiment deteriorates as stock falls 23%After last week's 23% share price decline to ₺19.85, the stock trades at a trailing P/E ratio of 27.7x. Average trailing P/E is 31x in the Software industry in Turkey. Total returns to shareholders of 133% over the past three years.
Valuation Update With 7 Day Price Move • Sep 27Investor sentiment improves as stock rises 22%After last week's 22% share price gain to ₺16.72, the stock trades at a trailing P/E ratio of 23.4x. Average trailing P/E is 25x in the Software industry in Turkey. Total returns to shareholders of 87% over the past three years.
Valuation Update With 7 Day Price Move • Aug 24Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ₺13.38, the stock trades at a trailing P/E ratio of 18.7x. Average trailing P/E is 20x in the Software industry in Turkey. Total returns to shareholders of 81% over the past three years.
New Risk • Aug 18New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 24% 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 Risk High level of non-cash earnings (24% accrual ratio). Minor Risks Revenue is less than US$5m (₺93m revenue, or US$3.4m). Market cap is less than US$100m (₺488.1m market cap, or US$18.0m).
Reported Earnings • Aug 18Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: ₺32.7m (up 278% from 2Q 2022). Net income: ₺13.6m (up ₺13.1m from 2Q 2022). Profit margin: 42% (up from 6.4% in 2Q 2022).
Valuation Update With 7 Day Price Move • Jul 20Investor sentiment improves as stock rises 22%After last week's 22% share price gain to ₺13.60, the stock trades at a trailing P/E ratio of 44.5x. Average trailing P/E is 21x in the Software industry in Turkey. Total returns to shareholders of 60% over the past three years.
Valuation Update With 7 Day Price Move • Jul 05Investor sentiment improves as stock rises 18%After last week's 18% share price gain to ₺9.56, the stock trades at a trailing P/E ratio of 31.3x. Average trailing P/E is 18x in the Software industry in Turkey. Total returns to shareholders of 6.2% over the past three years.
New Risk • Jun 23New major risk - Market cap sizeThe company's market capitalization is less than US$10m. Market cap: ₺244.7m (US$9.57m) This is considered a major 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 Earnings have declined by 0.4% per year over the past 5 years. Market cap is less than US$10m (₺244.7m market cap, or US$9.57m). Minor Risks Large one-off items impacting financial results. Revenue is less than US$5m (₺69m revenue, or US$2.7m).
Valuation Update With 7 Day Price Move • May 20Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ₺8.03, the stock trades at a trailing P/E ratio of 26.3x. Average trailing P/E is 14x in the Software industry in Turkey. Total loss to shareholders of 18% over the past three years.
Reported Earnings • May 12First quarter 2023 earnings releasedFirst quarter 2023 results: Revenue: ₺19.9m (up 105% from 1Q 2022). Net income: ₺6.57m (up 78% from 1Q 2022). Profit margin: 33% (down from 38% in 1Q 2022).
Reported Earnings • Mar 16Full year 2022 earnings releasedFull year 2022 results: Revenue: ₺59.0m (up 62% from FY 2021). Net income: ₺6.86m (up 80% from FY 2021). Profit margin: 12% (up from 11% in FY 2021).
Valuation Update With 7 Day Price Move • Feb 10Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ₺7.41, the stock trades at a trailing P/E ratio of 29.4x. Average trailing P/E is 15x in the Software industry in Turkey. Total loss to shareholders of 29% over the past three years.
Valuation Update With 7 Day Price Move • Nov 28Investor sentiment improved over the past weekAfter last week's 27% share price gain to ₺12.62, the stock trades at a trailing P/E ratio of 50x. Average trailing P/E is 25x in the Software industry in Turkey. Total returns to shareholders of 52% over the past three years.
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. Chairman of the Board Ali Kalyoncu was the last 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.
Reported Earnings • Nov 10Third quarter 2022 earnings released: EPS: ₺0.049 (vs ₺0.03 loss in 3Q 2021)Third quarter 2022 results: EPS: ₺0.049 (up from ₺0.03 loss in 3Q 2021). Revenue: ₺11.5m (up 61% from 3Q 2021). Net income: ₺1.55m (up ₺2.49m from 3Q 2021). Profit margin: 14% (up from net loss in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Oct 11Investor sentiment improved over the past weekAfter last week's 22% share price gain to ₺7.76, the stock trades at a trailing P/E ratio of 44.5x. Average trailing P/E is 17x in the Software industry in Turkey. Total returns to shareholders of 229% over the past three years.
Reported Earnings • Aug 23Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: ₺8.63m (up 19% from 2Q 2021). Net income: ₺553.2k (up 47% from 2Q 2021). Profit margin: 6.4% (up from 5.2% in 2Q 2021).
Valuation Update With 7 Day Price Move • Jun 21Investor sentiment improved over the past weekAfter last week's 18% share price gain to ₺6.30, the stock trades at a trailing P/E ratio of 37.4x. Average trailing P/E is 18x in the Software industry in Turkey. Total returns to shareholders of 128% over the past three years.
Reported Earnings • May 12First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: ₺0.12 (up from ₺0.067 in 1Q 2021). Revenue: ₺9.75m (up 31% from 1Q 2021). Net income: ₺3.70m (up 73% from 1Q 2021). Profit margin: 38% (up from 29% in 1Q 2021). Revenue missed analyst estimates by 9.7%. Earnings per share (EPS) also missed analyst estimates by 24%. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings.
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. Chairman of the Board Ali Kalyoncu was the last 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.
Reported Earnings • Mar 13Full year 2021 earnings: EPS and revenues miss analyst expectationsFull year 2021 results: EPS: ₺0.12 (up from ₺0.12 in FY 2020). Revenue: ₺36.4m (up 34% from FY 2020). Net income: ₺3.81m (up 2.0% from FY 2020). Profit margin: 11% (down from 14% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 9.7%. Earnings per share (EPS) also missed analyst estimates by 24%.
Valuation Update With 7 Day Price Move • Dec 27Investor sentiment improved over the past weekAfter last week's 15% share price gain to ₺5.63, the stock trades at a trailing P/E ratio of 65x. Average trailing P/E is 42x in the Software industry in Turkey. Total loss to shareholders of 40% over the past year.
Reported Earnings • Nov 11Third quarter 2021 earnings released: ₺0.029 loss per share (vs ₺0.03 profit in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: ₺7.14m (down 11% from 3Q 2020). Net loss: ₺935.6k (down 199% from profit in 3Q 2020).
Reported Earnings • Aug 21Second quarter 2021 earnings released: EPS ₺0.012 (vs ₺0.007 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₺7.25m (up 53% from 2Q 2020). Net income: ₺375.3k (up 69% from 2Q 2020). Profit margin: 5.2% (up from 4.7% in 2Q 2020).
Valuation Update With 7 Day Price Move • Apr 21Investor sentiment deteriorated over the past weekAfter last week's 20% share price decline to ₺5.25, the stock trades at a trailing P/E ratio of 44.7x. Average trailing P/E is 38x in the Software industry in Asia. Total loss to shareholders of 46% over the past year.
Reported Earnings • Feb 23Full year 2020 earnings releasedThe company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: ₺27.2m (flat on FY 2019). Net income: ₺3.74m (down 52% from FY 2019). Profit margin: 14% (down from 29% in FY 2019).
Is New 90 Day High Low • Dec 22New 90-day high: ₺9.99The company is up 21% from its price of ₺8.24 on 23 September 2020. The Turkish market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 1.0% over the same period.
Valuation Update With 7 Day Price Move • Dec 21Investor sentiment improved over the past weekAfter last week's 19% share price gain to ₺9.09, the stock is trading at a trailing P/E ratio of 49x, up from the previous P/E ratio of 41.1x. This compares to an average P/E of 37x in the Software industry in Asia. Total returns to shareholders over the past year are 9.5%.
Reported Earnings • Nov 07Third quarter 2020 earnings released: EPS ₺0.03The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: ₺8.03m (up 39% from 3Q 2019). Net income: ₺941.6k (down 54% from 3Q 2019). Profit margin: 12% (down from 35% in 3Q 2019). The decrease in margin was driven by higher expenses.
Is New 90 Day High Low • Oct 12New 90-day high: ₺9.11The company is up 7.0% from its price of ₺8.55 on 14 July 2020. The Turkish market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Software industry, which is down 10.0% over the same period.
