Narrative Update • Jun 26
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Turkish (BIST) Utilities Sector Analysis
UpdatedJul 21, 2026
DataAggregated Company Financials
Companies35
- 7D6.5%
- 3M4.2%
- 1Y55.9%
- YTD28.2%
The Utilities industry is up 6.5% in the last week, with Aksa Enerji Üretim up 16%. In the same time, Ahlatci Dogal Gaz Dagitim Enerji ve Yatirim was down 5.7%. This means that the industry has gained 56% over the past year. Earnings are forecast to grow by 32% annually.
Sector Valuation and Performance
Has the Turkish Utilities Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 22 Jul 2026 | ₺1.1t | ₺676.7b | -₺3,812,467,377.00 | 25x | -277.6x | 1.6x |
| Fri, 19 Jun 2026 | ₺993.2b | ₺676.8b | -₺4,333,952,155.00 | 25x | -229.2x | 1.5x |
| Sun, 17 May 2026 | ₺1.1t | ₺666.6b | -₺8,500,604,415.00 | 24.9x | -125.3x | 1.6x |
| Tue, 14 Apr 2026 | ₺1.0t | ₺674.6b | -₺10,551,067,314.00 | 22.3x | -95.7x | 1.5x |
| Thu, 12 Mar 2026 | ₺911.5b | ₺651.2b | -₺16,578,597,398.00 | 20.9x | -55x | 1.4x |
| Sat, 07 Feb 2026 | ₺869.2b | ₺531.9b | -₺31,255,714,745.00 | 18.6x | -27.8x | 1.6x |
| Mon, 05 Jan 2026 | ₺815.8b | ₺532.5b | -₺30,769,264,866.00 | 18.3x | -26.5x | 1.5x |
| Wed, 03 Dec 2025 | ₺797.0b | ₺533.1b | -₺30,706,956,082.00 | 21.5x | -26x | 1.5x |
| Fri, 31 Oct 2025 | ₺748.2b | ₺552.5b | -₺38,022,803,171.00 | 32.5x | -19.7x | 1.4x |
| Sun, 28 Sep 2025 | ₺738.6b | ₺552.5b | -₺38,022,803,171.00 | 33.1x | -19.4x | 1.3x |
| Tue, 26 Aug 2025 | ₺760.9b | ₺556.7b | -₺34,021,906,680.00 | 22.5x | -22.4x | 1.4x |
| Thu, 24 Jul 2025 | ₺643.3b | ₺557.3b | -₺31,045,947,963.00 | 18.7x | -20.7x | 1.2x |
| Sat, 21 Jun 2025 | ₺566.1b | ₺557.3b | -₺31,045,947,963.00 | 16.5x | -18.2x | 1x |
| Mon, 19 May 2025 | ₺568.2b | ₺564.3b | -₺18,440,609,262.00 | 15.7x | -30.8x | 1x |
| Wed, 16 Apr 2025 | ₺535.2b | ₺566.5b | -₺20,269,005,087.00 | 13.8x | -26.4x | 0.9x |
| Fri, 14 Mar 2025 | ₺551.7b | ₺566.2b | -₺19,426,928,233.00 | 15.7x | -28.4x | 1x |
| Sun, 09 Feb 2025 | ₺520.6b | ₺359.9b | ₺35.9b | 8.6x | 14.5x | 1.4x |
| Tue, 07 Jan 2025 | ₺554.3b | ₺359.8b | ₺35.3b | 10.4x | 15.7x | 1.5x |
| Thu, 05 Dec 2024 | ₺521.2b | ₺359.8b | ₺35.3b | 8.7x | 14.7x | 1.4x |
| Sat, 02 Nov 2024 | ₺492.6b | ₺407.7b | ₺50.5b | 9.3x | 9.7x | 1.2x |
| Mon, 30 Sep 2024 | ₺499.6b | ₺411.6b | ₺54.2b | 10.9x | 9.2x | 1.2x |
| Wed, 28 Aug 2024 | ₺497.5b | ₺410.5b | ₺55.0b | 9.1x | 9x | 1.2x |
| Fri, 26 Jul 2024 | ₺559.7b | ₺426.1b | ₺56.3b | 8.5x | 9.9x | 1.3x |
| Sun, 23 Jun 2024 | ₺574.3b | ₺425.1b | ₺60.4b | 9.8x | 9.5x | 1.4x |
| Tue, 21 May 2024 | ₺609.5b | ₺478.3b | ₺63.2b | 12.5x | 9.6x | 1.3x |
| Thu, 18 Apr 2024 | ₺551.0b | ₺451.7b | ₺48.9b | 20.8x | 11.3x | 1.2x |
| Sat, 16 Mar 2024 | ₺521.8b | ₺445.0b | ₺31.5b | 16.4x | 16.6x | 1.2x |
| Mon, 12 Feb 2024 | ₺469.1b | ₺367.0b | ₺50.4b | 16.1x | 9.3x | 1.3x |
| Wed, 10 Jan 2024 | ₺370.8b | ₺367.0b | ₺50.4b | 12x | 7.4x | 1x |
| Fri, 08 Dec 2023 | ₺412.5b | ₺363.0b | ₺49.8b | 13.5x | 8.3x | 1.1x |
| Sun, 05 Nov 2023 | ₺423.9b | ₺355.8b | ₺41.3b | 14.9x | 10.3x | 1.2x |
| Tue, 03 Oct 2023 | ₺486.3b | ₺351.1b | ₺36.1b | 16.7x | 13.5x | 1.4x |
| Thu, 31 Aug 2023 | ₺436.4b | ₺335.2b | ₺36.0b | 12.3x | 12.1x | 1.3x |
| Sat, 29 Jul 2023 | ₺353.1b | ₺328.6b | ₺38.2b | 11.9x | 9.2x | 1.1x |
Price to Earnings Ratio
9.2x
Current Industry PE
- Investors are optimistic on the Turkish Utilities industry, and appear confident in long term growth rates.
- The 3-year average PS ratio of 1.3x is lower than the industry's current PS ratio of 1.6x.
Past Earnings Growth
- Total earnings for the Utilities industry have declined over the last three years, with the industry now making a loss overall.
- Meanwhile revenues have grown 27% 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 Utilities sector?
| TR Market | 0.79% | |
| Utilities | 6.49% | |
| Renewable Energy | 11.69% | |
| Electric Utilities | 4.52% | |
| Gas Utilities | -1.59% | |
Industry PE
- Investors are most optimistic about the Electric Utilities industry which is trading above its 3-year average PE ratio.
- Analysts are expecting annual earnings growth of 12.9%, which is lower than the prior year's growth of 103.0% per year.
Forecasted Growth
- Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 40% over the next 5 years.
- This is better than its past earnings decline of 26% per year.
- In contrast, the Electric Utilities industry is expected to see its earnings grow by 13% 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 | |
|---|---|---|---|---|---|
| AKSEN Aksa Enerji Üretim | ₺111.30 | 16.4% +₺19.3b | 202.3% | PE36.9x | |
| BIGEN Birlesim Grup Enerji Yatirimlari | ₺118.20 | 23.1% +₺12.8b | 898.3% | PS52.3x | |
| ENJSA Enerjisa Enerji | ₺106.90 | 7.4% +₺8.7b | 62.7% | PE24.2x | |
| MOGAN Mogan Enerji Yatirim Holding Anonim Sirketi | ₺18.92 | 22.5% +₺8.5b | 101.3% | PS3.6x | |
| AYGAZ Aygaz | ₺275.25 | 11.0% +₺6.0b | 81.7% | PE19.4x |