Narrative Update • Apr 23
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Turkish (BIST) Luxury Industry Analysis
UpdatedMay 23, 2026
DataAggregated Company Financials
Companies30
- 7D-1.1%
- 3M-3.6%
- 1Y30.4%
- YTD3.5%
Over the last 7 days, the Luxury industry has dropped 5.2%, driven by pullbacks in Sun Tekstil Sanayi ve Ticaret and Aksa Akrilik Kimya Sanayii of 13% and 4.6%, respectively. In contrast, Isiklar Enerji ve Yapi Holding has gained 12%. In the past year, the industry has gained 25%. In the next few years, earnings are forecast to decline by 2.3% annually.
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 |
|---|---|---|---|---|---|---|
| Sat, 23 May 2026 | ₺246.6b | ₺179.4b | ₺7.4b | 20.9x | 33.2x | 1.4x |
| Mon, 20 Apr 2026 | ₺260.4b | ₺183.3b | ₺7.6b | 23.3x | 34.4x | 1.4x |
| Wed, 18 Mar 2026 | ₺257.7b | ₺160.7b | ₺3.2b | 21.2x | 79.4x | 1.6x |
| Fri, 13 Feb 2026 | ₺259.4b | ₺144.1b | ₺3.5b | 24.3x | 73.4x | 1.8x |
| Sun, 11 Jan 2026 | ₺234.6b | ₺143.4b | ₺3.5b | 24.2x | 67.4x | 1.6x |
| Tue, 09 Dec 2025 | ₺217.6b | ₺143.7b | ₺3.5b | 24.5x | 61.6x | 1.5x |
| Thu, 06 Nov 2025 | ₺225.7b | ₺151.3b | ₺1.1b | 31.4x | 211.1x | 1.5x |
| Sat, 04 Oct 2025 | ₺213.1b | ₺137.8b | ₺112.1m | 32.5x | 1900.6x | 1.5x |
| Mon, 01 Sep 2025 | ₺207.7b | ₺141.1b | ₺2.9b | 37.2x | 70.6x | 1.5x |
| Wed, 30 Jul 2025 | ₺186.3b | ₺141.1b | ₺5.1b | 20.4x | 36.3x | 1.3x |
| Fri, 27 Jun 2025 | ₺161.8b | ₺140.9b | ₺5.2b | 15.5x | 30.8x | 1.1x |
| Sun, 25 May 2025 | ₺183.8b | ₺142.7b | ₺6.0b | 14.7x | 30.7x | 1.3x |
| Tue, 22 Apr 2025 | ₺183.8b | ₺148.0b | ₺6.4b | 32x | 28.7x | 1.2x |
| Thu, 20 Mar 2025 | ₺175.0b | ₺147.3b | ₺7.1b | 26.4x | 24.5x | 1.2x |
| Sat, 15 Feb 2025 | ₺171.1b | ₺104.9b | ₺8.8b | 23.4x | 19.4x | 1.6x |
| Mon, 13 Jan 2025 | ₺182.8b | ₺104.9b | ₺8.8b | 22.9x | 20.8x | 1.7x |
| Wed, 11 Dec 2024 | ₺182.4b | ₺105.1b | ₺9.1b | 22.7x | 20x | 1.7x |
| Fri, 08 Nov 2024 | ₺159.5b | ₺107.2b | ₺12.8b | 17.4x | 12.5x | 1.5x |
| Sun, 06 Oct 2024 | ₺162.0b | ₺110.9b | ₺11.1b | 16x | 14.6x | 1.5x |
| Tue, 03 Sep 2024 | ₺182.0b | ₺110.8b | ₺11.8b | 14.2x | 15.4x | 1.6x |
| Thu, 01 Aug 2024 | ₺197.4b | ₺111.7b | ₺11.8b | 12x | 16.7x | 1.8x |
| Sat, 29 Jun 2024 | ₺207.6b | ₺111.7b | ₺11.8b | 11.2x | 17.5x | 1.9x |
| Mon, 27 May 2024 | ₺197.4b | ₺109.6b | ₺11.3b | 13.6x | 17.5x | 1.8x |
| Wed, 24 Apr 2024 | ₺167.3b | ₺98.4b | ₺11.0b | 18.4x | 15.2x | 1.7x |
| Fri, 22 Mar 2024 | ₺159.9b | ₺93.5b | ₺11.1b | 17.6x | 14.4x | 1.7x |
| Sun, 18 Feb 2024 | ₺165.3b | ₺84.7b | ₺11.8b | 16.1x | 14x | 2x |
| Tue, 16 Jan 2024 | ₺143.1b | ₺78.2b | ₺13.2b | 11.4x | 10.9x | 1.8x |
| Thu, 14 Dec 2023 | ₺138.9b | ₺78.2b | ₺13.2b | 11.2x | 10.5x | 1.8x |
| Sat, 11 Nov 2023 | ₺147.1b | ₺74.4b | ₺12.3b | 12.1x | 12x | 2x |
| Mon, 09 Oct 2023 | ₺152.3b | ₺71.1b | ₺11.9b | 15x | 12.8x | 2.1x |
| Wed, 06 Sep 2023 | ₺131.8b | ₺68.9b | ₺11.7b | 14.4x | 11.3x | 1.9x |
| Fri, 04 Aug 2023 | ₺116.5b | ₺67.4b | ₺11.0b | 13.8x | 10.6x | 1.7x |
| Sun, 02 Jul 2023 | ₺95.1b | ₺67.4b | ₺11.1b | 9.4x | 8.5x | 1.4x |
| Tue, 30 May 2023 | ₺81.6b | ₺64.3b | ₺10.7b | 7.8x | 7.6x | 1.3x |
Price to Earnings Ratio
7.6x
Current Industry PE
- Investors are pessimistic on the Turkish Luxury industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 32.1x which is lower than its 3-year average PE of 39.7x.
- The 3-year average PS ratio of 1.7x is higher than the industry's current PS ratio of 1.3x.
Past Earnings Growth
- The earnings for companies in the Luxury industry have declined 12% 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 | -3.85% | |
| Consumer Discretionary | -3.10% | |
| Luxury | -1.11% | |
| Textiles | 0.73% | |
| Footwear | 0% | 0 |
| Apparel, Accessories and Luxury Goods | -5.13% | |
Industry PE
- Investors are most optimistic about the Textiles industry even though it's trading below its 3-year average PE ratio of 47.3x.
- Analysts are expecting annual earnings decline of 34.5%, which is lower than the prior year's growth of 42.6% 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 17.4x.
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 21% per year.
- In contrast, the Textiles industry is expected to see its earnings decline by 35% 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 | |
|---|---|---|---|---|---|
| IEYHO Isiklar Enerji ve Yapi Holding | ₺113.60 | 11.7% +₺6.5b | 749.0% | PS31.2x | |
| BAYRK Bayrak EBT Taban Sanayi ve Ticaret Anonim Sirketi | ₺5.61 | 9.1% +₺117.5m | 11.5% | PS6x | |
| BRMEN Birlik Mensucat Ticaret ve Sanayi Isletmesi | ₺10.55 | 14.7% +₺61.1m | 91.8% | PS2.4x | |
| RODRG Rodrigo Tekstil Sanayi ve Ticaret | ₺28.96 | 7.0% +₺53.8m | 78.2% | PE51.1x | |
| HATEK Hateks Hatay Tekstil Isletmeleri | ₺16.40 | 3.3% +₺32.8m | -46.7% | PS1.1x |