Narrative Update • Apr 23
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Turkish (BIST) Luxury Industry Analysis
UpdatedMay 13, 2026
DataAggregated Company Financials
Companies30
- 7D2.9%
- 3M-0.7%
- 1Y30.3%
- YTD6.8%
The Luxury industry is up 3.5% in the last week, with Aksa Akrilik Kimya Sanayii up 8.9%. In the same time, Ensari Sinai Yatirimlar Anonim Sirketi was down 23%. This means that the industry has gained 30% over the past year. As for the next few years, earnings are expected to grow by 2.3% per annum.
Industry Valuation and Performance
Has the Turkish Luxury Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 13 May 2026 | ₺257.6b | ₺181.2b | ₺6.3b | 23.3x | 40.7x | 1.4x |
| Fri, 10 Apr 2026 | ₺257.9b | ₺183.3b | ₺7.6b | 17.8x | 33.9x | 1.4x |
| Sun, 08 Mar 2026 | ₺242.8b | ₺147.3b | ₺3.2b | 20.5x | 75.4x | 1.6x |
| Tue, 03 Feb 2026 | ₺249.0b | ₺143.4b | ₺3.5b | 24.2x | 71.5x | 1.7x |
| Thu, 01 Jan 2026 | ₺239.3b | ₺143.4b | ₺3.5b | 28.8x | 68.8x | 1.7x |
| Sat, 29 Nov 2025 | ₺212.3b | ₺143.7b | ₺3.5b | 22.7x | 60.1x | 1.5x |
| Mon, 27 Oct 2025 | ₺218.3b | ₺151.2b | ₺770.1m | 28.2x | 283.4x | 1.4x |
| Wed, 24 Sep 2025 | ₺216.5b | ₺137.8b | ₺116.8m | 33.1x | 1852.7x | 1.6x |
| Fri, 22 Aug 2025 | ₺205.1b | ₺139.4b | ₺5.0b | 24.3x | 40.6x | 1.5x |
| Sun, 20 Jul 2025 | ₺182.6b | ₺141.1b | ₺5.1b | 20.8x | 35.6x | 1.3x |
| Tue, 17 Jun 2025 | ₺165.5b | ₺140.9b | ₺5.2b | 16.7x | 31.5x | 1.2x |
| Thu, 15 May 2025 | ₺191.9b | ₺147.6b | ₺6.0b | 31.1x | 31.8x | 1.3x |
| Sat, 12 Apr 2025 | ₺188.7b | ₺148.0b | ₺6.4b | 30.6x | 29.5x | 1.3x |
| Mon, 10 Mar 2025 | ₺184.3b | ₺129.7b | ₺6.0b | 26.9x | 30.9x | 1.4x |
| Wed, 05 Feb 2025 | ₺170.1b | ₺104.9b | ₺8.8b | 22.6x | 19.3x | 1.6x |
| Fri, 03 Jan 2025 | ₺190.4b | ₺104.9b | ₺8.8b | 22.8x | 21.6x | 1.8x |
| Sun, 01 Dec 2024 | ₺172.0b | ₺104.8b | ₺8.9b | 18.9x | 19.3x | 1.6x |
| Tue, 29 Oct 2024 | ₺156.0b | ₺108.7b | ₺12.3b | 15.7x | 12.6x | 1.4x |
| Thu, 26 Sep 2024 | ₺174.5b | ₺113.0b | ₺10.1b | 16.4x | 17.3x | 1.5x |
| Sat, 24 Aug 2024 | ₺179.5b | ₺110.9b | ₺12.1b | 12.5x | 14.8x | 1.6x |
| Mon, 22 Jul 2024 | ₺220.6b | ₺111.7b | ₺11.8b | 11.8x | 18.7x | 2x |
| Wed, 19 Jun 2024 | ₺195.7b | ₺111.1b | ₺12.1b | 11.6x | 16.2x | 1.8x |
| Fri, 17 May 2024 | ₺218.5b | ₺125.3b | ₺12.8b | 13.8x | 17x | 1.7x |
| Sun, 14 Apr 2024 | ₺164.6b | ₺96.8b | ₺11.2b | 18.4x | 14.7x | 1.7x |
| Tue, 12 Mar 2024 | ₺166.8b | ₺84.7b | ₺11.8b | 16.5x | 14.1x | 2x |
| Thu, 08 Feb 2024 | ₺160.0b | ₺77.9b | ₺13.2b | 13.3x | 12.1x | 2.1x |
| Sat, 06 Jan 2024 | ₺140.7b | ₺78.2b | ₺13.2b | 11.4x | 10.7x | 1.8x |
| Mon, 04 Dec 2023 | ₺153.2b | ₺75.7b | ₺12.6b | 12.4x | 12.2x | 2x |
| Wed, 01 Nov 2023 | ₺135.8b | ₺71.9b | ₺11.9b | 14.6x | 11.4x | 1.9x |
| Fri, 29 Sep 2023 | ₺145.9b | ₺71.1b | ₺11.9b | 15.5x | 12.2x | 2.1x |
| Sun, 27 Aug 2023 | ₺121.9b | ₺68.9b | ₺11.7b | 12.8x | 10.4x | 1.8x |
| Tue, 25 Jul 2023 | ₺112.3b | ₺67.4b | ₺11.0b | 12.4x | 10.2x | 1.7x |
| Thu, 22 Jun 2023 | ₺83.0b | ₺67.3b | ₺11.1b | 8.5x | 7.5x | 1.2x |
| Sat, 20 May 2023 | ₺80.6b | ₺64.8b | ₺10.9b | 7.7x | 7.4x | 1.2x |
Price to Earnings Ratio
7.4x
Current Industry PE
- Investors are relatively neutral on the Turkish Luxury industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 39.5x.
- The 3-year average PS ratio of 1.7x is higher than the industry's current PS ratio of 1.4x.
Past Earnings Growth
- The earnings for companies in the Luxury industry have declined 16% per year over the last three years.
- Meanwhile revenues for these companies have grown 41% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Turkish Consumer Discretionary industry?
| TR Market | 1.57% | |
| Consumer Discretionary | 1.48% | |
| Luxury | 2.87% | |
| Textiles | 5.35% | |
| Footwear | 0% | 0 |
| Apparel, Accessories and Luxury Goods | -2.01% | |
Industry PE
- Investors are most optimistic about the Textiles industry which is trading above its 3-year average PE ratio of 46.9x.
- Analysts are expecting annual earnings decline of 27.4%, which is lower than the prior year's growth of 55.1% per year.
- Investors are most pessimistic about the Apparel, Accessories and Luxury Goods industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 17.2x.
Forecasted Growth
- Analysts are most optimistic on the Apparel, Accessories and Luxury Goods industry, expecting annual earnings growth of 38% over the next 5 years.
- This is better than its past earnings decline of 38% per year.
- In contrast, the Textiles industry is expected to see its earnings decline by 27% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| AKSA Aksa Akrilik Kimya Sanayii | ₺11.44 | 8.4% +₺3.5b | 9.9% | PE11.1x | |
| IEYHO Isiklar Enerji ve Yapi Holding | ₺103.00 | 4.3% +₺2.3b | 635.7% | PS20.4x | |
| SNPAM Sönmez Pamuklu Sanayii | ₺25.00 | 16.5% +₺1.4b | -15.3% | PS11.4x | |
| ARSAN Arsan Holding Anonim Sirketi | ₺4.02 | 11.7% +₺740.0m | 71.3% | PS51.9x | |
| KERVN Kervansaray Yatirim Holding | ₺4.62 | 20.6% +₺464.9m | 135.7% | PS5056.8x |