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Turkish (BIST) Market Analysis & Valuation

UpdatedJan 31, 2026
DataAggregated Company Financials
Companies583
  • 7D4.8%
  • 3M17.3%
  • 1Y45.9%
  • YTD16.0%

Over the last 7 days, the market has risen 4.8%, driven by gains in every sector, especially the Industrials sector. As for the past 12 months, the market is up 46%. Earnings are forecast to grow by 45% annually.

Trending IndustriesOil and GasSoftwareRenewable Energy

Market Valuation and Performance

Has the Turkish Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 01 Feb 2026₺20.5t₺16.4t₺914.0b21.2x22.4x1.3x
Tue, 30 Dec 2025₺17.2t₺16.4t₺911.0b17.9x18.8x1x
Thu, 27 Nov 2025₺16.9t₺16.4t₺900.2b17.4x18.8x1x
Sat, 25 Oct 2025₺17.3t₺15.8t₺803.2b22.2x21.5x1.1x
Mon, 22 Sep 2025₺17.3t₺15.8t₺784.4b23.4x22.1x1.1x
Wed, 20 Aug 2025₺17.6t₺15.6t₺832.1b22.9x21.1x1.1x
Fri, 18 Jul 2025₺15.0t₺15.4t₺844.9b18.8x17.7x1x
Sun, 15 Jun 2025₺13.3t₺15.4t₺840.8b17.4x15.8x0.9x
Tue, 13 May 2025₺13.9t₺15.4t₺860.4b18.9x16.1x0.9x
Thu, 10 Apr 2025₺13.4t₺15.4t₺877.0b17.4x15.2x0.9x
Sat, 08 Mar 2025₺14.3t₺14.3t₺981.6b17.1x14.6x1x
Mon, 03 Feb 2025₺13.5t₺11.6t₺1.2t15.4x11.1x1.2x
Wed, 01 Jan 2025₺13.4t₺11.4t₺1.2t16.2x10.9x1.2x
Fri, 29 Nov 2024₺13.1t₺11.4t₺1.2t15.4x10.7x1.2x
Sun, 27 Oct 2024₺12.3t₺11.5t₺1.3t15x9.2x1.1x
Tue, 24 Sep 2024₺13.4t₺11.6t₺1.4t16.4x9.6x1.2x
Thu, 22 Aug 2024₺13.1t₺11.6t₺1.4t16.2x9.3x1.1x
Sat, 20 Jul 2024₺14.6t₺11.2t₺1.4t16.8x10.3x1.3x
Mon, 17 Jun 2024₺14.2t₺11.2t₺1.4t16x10x1.3x
Wed, 15 May 2024₺14.3t₺11.5t₺1.5t16.1x9.6x1.2x
Fri, 12 Apr 2024₺13.4t₺10.3t₺1.4t15.5x9.3x1.3x
Sun, 10 Mar 2024₺12.8t₺8.9t₺1.4t16.5x9.1x1.4x
Tue, 06 Feb 2024₺12.4t₺8.3t₺1.4t14.4x9.1x1.5x
Thu, 04 Jan 2024₺10.0t₺8.2t₺1.4t11.4x7.3x1.2x
Sat, 02 Dec 2023₺10.9t₺8.2t₺1.3t13.1x8.1x1.3x
Mon, 30 Oct 2023₺10.8t₺7.6t₺1.2t14x8.8x1.4x
Wed, 27 Sep 2023₺10.8t₺7.2t₺1.1t15.5x9.4x1.5x
Fri, 25 Aug 2023₺9.3t₺7.2t₺1.1t13.2x8.2x1.3x
Sun, 23 Jul 2023₺7.6t₺6.7t₺1.1t12.2x7.1x1.1x
Tue, 20 Jun 2023₺6.0t₺6.6t₺1.1t9.2x5.7x0.9x
Thu, 18 May 2023₺6.2t₺6.6t₺1.1t8.4x5.8x0.9x
Sat, 15 Apr 2023₺5.7t₺5.9t₺1.0t9.3x5.7x1x
Mon, 13 Mar 2023₺7.5t₺5.8t₺958.8b10.6x7.8x1.3x
Wed, 08 Feb 2023₺5.4t₺5.1t₺765.6b10.8x7.1x1.1x
Price to Earnings Ratio

7.1x


Total Market Cap: ₺5.4tTotal Earnings: ₺765.6bTotal Revenue: ₺5.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Turkish Market Price to Earnings3Y Average 12x202420252026
Current Market PE
  • Investors are optimistic on the Turkish market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 22.4x which is higher than its 3-year average PE of 11.9x.
Past Earnings Growth
  • The earnings for Turkish listed companies have grown 6.3% per year over the last three years.
  • Revenues for these companies have grown 50% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the Turkish Market?

TR Market4.84%
Industrials7.43%
Energy7.39%
Financials4.89%
Materials4.28%
Consumer Discretionary4.09%
Telecom3.31%
Utilities3.28%
Consumer Staples2.50%
Healthcare0.79%
Real Estate0.20%
Tech0.12%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 92.0x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 65.3% which is higher than its past year's earnings decline of 44.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Discretionary sector, expecting annual earnings growth of 68% over the next 5 years.
  • This is better than its past earnings decline of 42% per year.
  • In contrast, the Tech sector is expected to see its earnings grow by 7.0% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
KLRHO Kiler Holding Anonim Sirketi₺590.0033.8%
+₺242.1b		1,931.7%PE618.7xIndustrials
ENKAI Enka Insaat ve Sanayi₺97.8516.3%
+₺80.6b		100.9%PE17.9xIndustrials
AKBNK Akbank T.A.S₺92.9517.9%
+₺73.3b		43.3%PB1.7xFinancials
GARAN Turkiye Garanti Bankasi₺161.306.6%
+₺42.0b		26.7%PB1.7xFinancials
TUPRS Türkiye Petrol Rafinerileri₺244.808.4%
+₺36.6b		73.4%PE21.4xEnergy
See more

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ENKAI
₺97.85
Enka Insaat ve Sanayi
7D
16.3%
1Y
100.9%
AKBNK
₺92.95
Akbank T.A.S
7D
17.9%
1Y
43.3%
LIDER
₺72.00
LDR Turizm
7D
-10.3%
1Y
133.8%
GENIL
₺120.50
Gen Ilac Ve Saglik Urunleri Sanayi Ve Ticaret Anonim Sirketi
7D
-11.5%
1Y
2.4%
TUPRS
₺244.80
Türkiye Petrol Rafinerileri
7D
8.4%
1Y
73.4%

Gasoline Shift And Energy Transition Initiatives Will Support Stronger Long Term Refining Margins

Catalysts About Türkiye Petrol Rafinerileri Türkiye Petrol Rafinerileri operates complex refineries and related energy assets, serving mainly the Turkish petroleum products market. What are the underlying business or industry changes driving this perspective?
FROTO
₺113.70
Ford Otomotiv Sanayi
7D
8.2%
1Y
22.3%

FROTO: Shareholder Meeting And Capital Changes Will Shape Balanced Outlook

Analysts have raised their price target for Ford Otomotiv Sanayi to €113.00 from €109.86, citing updated assumptions around revenue growth, profit margins, discount rate and future P/E as the key drivers of the revised view. What's in the News Ford Otomotiv Sanayi has scheduled a Special and Extraordinary Shareholders Meeting for November 28, 2025 at 08:00 Coordinated Universal Time in Sancaktepe, Istanbul, Turkey (Key Developments).
GARAN
₺161.30
Turkiye Garanti Bankasi
7D
6.6%
1Y
26.7%

GARAN: Higher Revenue Assumptions Will Be Offset By Weaker Profitability

Analysts have raised their fair value estimate for Turkiye Garanti Bankasi from about ₺109.79 to around ₺132.16. They cite updated assumptions for revenue growth, profit margins and future P/E multiples as the main factors behind this change.
HALKB
₺43.58
Türkiye Halk Bankasi
7D
-3.2%
1Y
113.8%

HALKB: Higher Required Return Will Likely Cap Future Share Price Upside

Analysts have lifted their price target range for Türkiye Halk Bankasi, citing updated assumptions that include a fair value estimate of 30.655, a discount rate of 33.88759050155605%, revenue growth of 48.363025322277785%, a profit margin of 20.106328557268707%, and a forward P/E of 7.129084662912808. Valuation Changes Fair Value Estimate: updated from TRY 30.655 to TRY 34.69333, reflecting a moderate upward revision in the modelled fair value range.
ISCTR
₺16.66
Türkiye Is Bankasi
7D
9.6%
1Y
17.7%

ISCTR: Higher Margin Outlook And Lower P/E Will Support Fair Pricing

Analysts have trimmed their fair value estimate for Türkiye Is Bankasi from ₺13.92 to about ₺13.50, pointing to updated assumptions around slightly lower revenue growth, a higher profit margin and a reduced future P/E multiple. Valuation Changes Fair Value Estimate trimmed slightly from ₺13.92 to about ₺13.50 per share.
DSTKF
₺800.00
Destek Finans Faktoring
7D
14.3%
1Y
n/a
KLRHO
₺590.00
Kiler Holding Anonim Sirketi
7D
33.8%
1Y
1,931.7%
HEDEF
₺51.10
Hedef Holding
7D
-9.5%
1Y
1,146.3%
PASEU
₺148.50
Pasifik Eurasia Lojistik Dis Ticaret
7D
-6.7%
1Y
365.5%
ZRGYO
₺23.82
Ziraat Gayrimenkul Yatirim Ortakligi
7D
-3.9%
1Y
60.7%
INVES
₺246.10
Investco Holding
7D
-13.9%
1Y
16.6%
UFUK
₺1,503.00
UFUK Yatirim Yonetim ve Gayrimenkul
7D
-7.1%
1Y
206.7%