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Turkish (BIST) Market Analysis & Valuation
UpdatedNov 11, 2025
DataAggregated Company Financials
Companies575
- 7D-4.7%
- 3M-4.4%
- 1Y21.9%
- YTD19.5%
Over the last 7 days, the market has dropped 4.7%, driven by losses in every sector, especially the Industrials sector. As for the longer term, the market has actually risen by 22% in the last year. Looking forward, earnings are forecast to grow by 46% annually.
Market Valuation and Performance
Has the Turkish Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 14 Nov 2025 | ₺17.0t | ₺16.4t | ₺898.9b | 20.9x | 18.9x | 1x |
| Sun, 12 Oct 2025 | ₺17.2t | ₺15.8t | ₺794.2b | 22.1x | 21.7x | 1.1x |
| Tue, 09 Sep 2025 | ₺16.2t | ₺15.9t | ₺796.9b | 22.8x | 20.4x | 1x |
| Thu, 07 Aug 2025 | ₺17.0t | ₺14.6t | ₺704.8b | 21.6x | 24.1x | 1.2x |
| Sat, 05 Jul 2025 | ₺14.6t | ₺15.4t | ₺843.4b | 18.7x | 17.3x | 0.9x |
| Mon, 02 Jun 2025 | ₺13.0t | ₺15.4t | ₺839.7b | 17.8x | 15.5x | 0.8x |
| Wed, 30 Apr 2025 | ₺13.4t | ₺15.6t | ₺876.8b | 17.5x | 15.3x | 0.9x |
| Fri, 28 Mar 2025 | ₺13.9t | ₺15.4t | ₺877.9b | 17.8x | 15.8x | 0.9x |
| Sun, 23 Feb 2025 | ₺13.3t | ₺12.9t | ₺1.2t | 15.4x | 11.3x | 1x |
| Tue, 21 Jan 2025 | ₺13.7t | ₺11.4t | ₺1.2t | 15.9x | 11.1x | 1.2x |
| Thu, 19 Dec 2024 | ₺13.6t | ₺11.4t | ₺1.2t | 16x | 11.1x | 1.2x |
| Sat, 16 Nov 2024 | ₺12.9t | ₺11.5t | ₺1.2t | 14.6x | 10.5x | 1.1x |
| Mon, 14 Oct 2024 | ₺12.3t | ₺11.6t | ₺1.4t | 14.6x | 9x | 1.1x |
| Wed, 11 Sep 2024 | ₺13.2t | ₺11.6t | ₺1.4t | 16.5x | 9.5x | 1.1x |
| Fri, 09 Aug 2024 | ₺13.5t | ₺11.5t | ₺1.4t | 16.5x | 9.6x | 1.2x |
| Sun, 07 Jul 2024 | ₺14.3t | ₺11.2t | ₺1.4t | 15.8x | 10.1x | 1.3x |
| Tue, 04 Jun 2024 | ₺14.2t | ₺11.1t | ₺1.4t | 16.3x | 10x | 1.3x |
| Thu, 02 May 2024 | ₺14.0t | ₺10.5t | ₺1.5t | 15x | 9.6x | 1.3x |
| Sat, 30 Mar 2024 | ₺12.7t | ₺10.1t | ₺1.4t | 14.9x | 9x | 1.3x |
| Mon, 26 Feb 2024 | ₺12.6t | ₺8.4t | ₺1.4t | 16.1x | 9.2x | 1.5x |
| Wed, 24 Jan 2024 | ₺10.6t | ₺8.2t | ₺1.4t | 13.2x | 7.8x | 1.3x |
| Fri, 22 Dec 2023 | ₺10.5t | ₺8.2t | ₺1.4t | 11.9x | 7.7x | 1.3x |
| Sun, 19 Nov 2023 | ₺11.5t | ₺8.2t | ₺1.3t | 13.4x | 8.6x | 1.4x |
| Tue, 17 Oct 2023 | ₺10.8t | ₺7.2t | ₺1.1t | 15x | 9.4x | 1.5x |
| Thu, 14 Sep 2023 | ₺10.0t | ₺7.2t | ₺1.1t | 14.5x | 8.7x | 1.4x |
| Sat, 12 Aug 2023 | ₺8.8t | ₺7.0t | ₺1.1t | 13.1x | 7.9x | 1.3x |
| Mon, 10 Jul 2023 | ₺7.0t | ₺6.7t | ₺1.1t | 11x | 6.6x | 1.1x |
| Wed, 07 Jun 2023 | ₺6.1t | ₺6.6t | ₺1.1t | 9.3x | 5.8x | 0.9x |
| Fri, 05 May 2023 | ₺5.0t | ₺6.3t | ₺1.0t | 8x | 4.9x | 0.8x |
| Sun, 02 Apr 2023 | ₺5.4t | ₺5.9t | ₺1.0t | 8.8x | 5.4x | 0.9x |
| Tue, 28 Feb 2023 | ₺5.7t | ₺5.5t | ₺873.5b | 10.8x | 6.5x | 1x |
| Thu, 26 Jan 2023 | ₺5.8t | ₺4.9t | ₺680.8b | 12.8x | 8.5x | 1.2x |
| Sat, 24 Dec 2022 | ₺6.2t | ₺4.9t | ₺680.5b | 14.1x | 9.1x | 1.2x |
| Mon, 21 Nov 2022 | ₺5.0t | ₺4.9t | ₺679.9b | 10.7x | 7.4x | 1x |
Price to Earnings Ratio
7.4x
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 18.9x which is higher than its 3-year average PE of 11.2x.
Past Earnings Growth
- The earnings for Turkish listed companies have grown 9.8% per year over the last three years.
- Revenues for these companies have grown 49% 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 Market | -4.69% | |
| Energy | -0.013% | |
| Telecom | -2.84% | |
| Materials | -3.85% | |
| Consumer Staples | -3.91% | |
| Financials | -4.08% | |
| Utilities | -4.40% | |
| Tech | -4.57% | |
| Healthcare | -4.65% | |
| Consumer Discretionary | -5.98% | |
| Industrials | -6.00% | |
| Real Estate | -6.54% | |
Sector PE
- Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 79.7x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 74.1% which is higher than its past year's earnings decline of 37.5% per year.
Forecasted Growth
- Analysts are most optimistic on the Utilities sector, expecting annual earnings growth of 105% over the next 5 years.
- This is better than its past earnings decline of 56% per year.
- In contrast, the Tech sector is expected to see its earnings grow by 7.3% 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 | Sector | |
|---|---|---|---|---|---|---|
| TERA Tera Yatirim Menkul Degerler | ₺278.00 | 10.4% +₺18.4b | 4,764.4% | PE5.6x | Financials | |
| KOZAL Turk Altin Isletmeleri | ₺32.70 | 19.7% +₺17.2b | 63.5% | PE40.3x | Materials | |
| VAKBN Türkiye Vakiflar Bankasi Türk Anonim Ortakligi | ₺26.72 | 4.0% +₺10.3b | 11.1% | PB1x | Financials | |
| LIDER LDR Turizm | ₺78.15 | 18.3% +₺9.9b | 225.9% | PE30.5x | Industrials | |
| MGROS Migros Ticaret | ₺503.50 | 7.1% +₺6.0b | 7.1% | PE15.4x | Consumer Staples |