Narrative Update • May 22
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Turkish (BIST) Telecom Sector Analysis
UpdatedJun 06, 2026
DataAggregated Company Financials
Companies15
- 7D2.8%
- 3M3.3%
- 1Y-29.6%
- YTD1.8%
The Telecom industry is up 2.8% in the last week, with Turkcell Iletisim Hizmetleri up 4.1%. However, the industry is down 30% over the past year. As for the next few years, earnings are expected to grow by 25% per annum.
Sector Valuation and Performance
Has the Turkish Telecom Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 06 Jun 2026 | ₺545.3b | ₺551.0b | ₺39.3b | 12.4x | 13.9x | 1x |
| Mon, 04 May 2026 | ₺550.8b | ₺540.0b | ₺35.5b | 9.5x | 15.5x | 1x |
| Wed, 01 Apr 2026 | ₺501.2b | ₺526.5b | ₺36.8b | 9.7x | 13.6x | 1x |
| Fri, 27 Feb 2026 | ₺572.4b | ₺403.8b | ₺26.9b | 13x | 21.3x | 1.4x |
| Sun, 25 Jan 2026 | ₺526.9b | ₺403.0b | ₺27.0b | 12.1x | 19.5x | 1.3x |
| Tue, 23 Dec 2025 | ₺473.7b | ₺403.0b | ₺27.0b | 11.1x | 17.6x | 1.2x |
| Thu, 20 Nov 2025 | ₺466.8b | ₺402.4b | ₺26.8b | 13.5x | 17.4x | 1.2x |
| Sat, 18 Oct 2025 | ₺439.7b | ₺388.8b | ₺19.1b | 14.5x | 23.1x | 1.1x |
| Mon, 15 Sep 2025 | ₺436.0b | ₺386.4b | ₺19.3b | 14.8x | 22.6x | 1.1x |
| Wed, 13 Aug 2025 | ₺476.5b | ₺364.4b | ₺19.4b | 19.5x | 24.6x | 1.3x |
| Fri, 11 Jul 2025 | ₺452.4b | ₺364.2b | ₺19.3b | 19.2x | 23.4x | 1.2x |
| Sun, 08 Jun 2025 | ₺455.8b | ₺364.2b | ₺19.3b | 19.5x | 23.6x | 1.3x |
| Tue, 06 May 2025 | ₺415.0b | ₺351.7b | ₺17.3b | 17x | 24x | 1.2x |
| Thu, 03 Apr 2025 | ₺412.4b | ₺351.2b | ₺19.1b | 14.7x | 21.6x | 1.2x |
| Sat, 01 Mar 2025 | ₺447.7b | ₺295.9b | ₺30.6b | 16.9x | 14.6x | 1.5x |
| Mon, 27 Jan 2025 | ₺427.8b | ₺240.8b | ₺46.5b | 9.4x | 9.2x | 1.8x |
| Wed, 25 Dec 2024 | ₺381.0b | ₺240.8b | ₺46.5b | 9.1x | 8.2x | 1.6x |
| Fri, 22 Nov 2024 | ₺401.3b | ₺244.2b | ₺46.6b | 8.9x | 8.6x | 1.6x |
| Sun, 20 Oct 2024 | ₺375.1b | ₺234.8b | ₺39.6b | 10.5x | 9.5x | 1.6x |
| Tue, 17 Sep 2024 | ₺391.3b | ₺225.2b | ₺32.0b | 10.8x | 12.2x | 1.7x |
| Thu, 15 Aug 2024 | ₺424.4b | ₺225.1b | ₺27.9b | 11.4x | 15.2x | 1.9x |
| Sat, 13 Jul 2024 | ₺447.9b | ₺223.3b | ₺28.6b | 12.5x | 15.7x | 2x |
| Mon, 10 Jun 2024 | ₺393.4b | ₺222.6b | ₺28.3b | 13.8x | 13.9x | 1.8x |
| Wed, 08 May 2024 | ₺345.2b | ₺214.1b | ₺27.9b | 13.1x | 12.4x | 1.6x |
| Fri, 05 Apr 2024 | ₺286.2b | ₺184.6b | ₺17.1b | 13.3x | 16.8x | 1.6x |
| Sun, 03 Mar 2024 | ₺270.4b | ₺158.3b | ₺23.9b | 15.6x | 11.3x | 1.7x |
| Tue, 30 Jan 2024 | ₺279.8b | ₺158.3b | ₺23.9b | 15.1x | 11.7x | 1.8x |
| Thu, 28 Dec 2023 | ₺212.5b | ₺158.3b | ₺23.9b | 13.4x | 8.9x | 1.3x |
| Sat, 25 Nov 2023 | ₺222.4b | ₺158.3b | ₺23.9b | 14.2x | 9.3x | 1.4x |
| Mon, 23 Oct 2023 | ₺186.7b | ₺136.2b | ₺17.5b | 17.1x | 10.7x | 1.4x |
| Wed, 20 Sep 2023 | ₺214.3b | ₺136.2b | ₺17.5b | 16.6x | 12.3x | 1.6x |
| Fri, 18 Aug 2023 | ₺208.7b | ₺126.5b | ₺16.1b | 18.2x | 13x | 1.6x |
| Sun, 16 Jul 2023 | ₺183.5b | ₺119.1b | ₺18.0b | 18.2x | 10.2x | 1.5x |
| Tue, 13 Jun 2023 | ₺170.1b | ₺118.9b | ₺17.9b | 13.3x | 9.5x | 1.4x |
Price to Earnings Ratio
9.5x
Current Industry PE
- Investors are relatively neutral on the Turkish Communication Services 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 15.2x.
- The 3-year average PS ratio of 1.5x is higher than the industry's current PS ratio of 0.99x.
Past Earnings Growth
- The earnings for companies in the Communication Services industry have grown 30% per year over the last three years.
- Revenues for these companies have grown 67% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Turkish Telecom sector?
| TR Market | 0.69% | |
| Telecom | 2.78% | |
| Media | 9.40% | |
| Wireless Telecom | 4.06% | |
| Telecom Services and Carriers | 1.71% | |
| Entertainment | 0% | 0 |
| Interactive Media and Services | -9.99% | |
Industry PE
- Investors are most optimistic about the Interactive Media and Services industry which is trading above its 3-year average PE ratio of 14.0x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
- Analysts are most optimistic on the Wireless Telecom industry, expecting annual earnings growth of 34% over the next 5 years.
- This is better than its past earnings growth rate of 19% per year.
- In contrast, the Telecom Services and Carriers industry is expected to see its earnings grow by 16% 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 | |
|---|---|---|---|---|---|
| TCELL Turkcell Iletisim Hizmetleri | ₺105.10 | 4.1% +₺8.9b | 8.2% | PE12.4x | |
| TTKOM Türk Telekomünikasyon Anonim Sirketi | ₺62.30 | 1.7% +₺3.7b | 7.4% | PE8.2x | |
| IHAAS Ihlas Haber Ajansi | ₺104.50 | 24.1% +₺3.3b | 332.5% | PS31.3x | |
| GSRAY Galatasaray Sportif Sinai ve Ticari Yatirimlar | ₺1.09 | 3.8% +₺540.0m | -32.3% | PS0.9x | |
| BJKAS Besiktas Futbol Yatirimlari Sanayi ve Ticaret | ₺1.65 | 5.8% +₺392.8m | -10.3% | PS1.4x |