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Turkish (BIST) Market Analysis & Valuation

UpdatedDec 29, 2025
DataAggregated Company Financials
Companies578
  • 7D-0.5%
  • 3M3.8%
  • 1Y23.6%
  • YTD24.1%

In the last week, the market has stayed flat, however the Healthcare sector stood out, gaining 3.8%. Meanwhile, the market is actually up 22% over the past year. As for the next few years, earnings are expected to grow by 47% per annum.

Trending IndustriesOil and GasSoftwareRenewable Energy

Market Valuation and Performance

Has the Turkish Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 29 Dec 2025₺17.4t₺16.4t₺910.9b18.3x19.1x1.1x
Wed, 26 Nov 2025₺17.0t₺16.5t₺902.3b17.6x18.8x1x
Fri, 24 Oct 2025₺16.7t₺15.8t₺798.2b21.4x20.9x1.1x
Sun, 21 Sep 2025₺17.3t₺15.8t₺784.4b23.4x22.1x1.1x
Tue, 19 Aug 2025₺17.5t₺16.2t₺2.8t22.9x6.3x1.1x
Thu, 17 Jul 2025₺14.6t₺15.4t₺844.9b18.2x17.3x0.9x
Sat, 14 Jun 2025₺13.3t₺15.4t₺841.1b17.4x15.8x0.9x
Mon, 12 May 2025₺13.5t₺15.4t₺862.8b18.3x15.6x0.9x
Wed, 09 Apr 2025₺13.6t₺15.4t₺877.0b17.6x15.6x0.9x
Fri, 07 Mar 2025₺14.1t₺14.2t₺978.4b17.1x14.4x1x
Sun, 02 Feb 2025₺13.5t₺11.6t₺1.2t15.4x11.1x1.2x
Tue, 31 Dec 2024₺13.5t₺11.4t₺1.2t15.9x11x1.2x
Thu, 28 Nov 2024₺13.2t₺11.4t₺1.2t15.5x10.7x1.2x
Sat, 26 Oct 2024₺12.3t₺11.5t₺1.3t15x9.1x1.1x
Mon, 23 Sep 2024₺13.4t₺11.6t₺1.4t16.4x9.6x1.2x
Wed, 21 Aug 2024₺13.2t₺11.6t₺1.4t16.1x9.3x1.1x
Fri, 19 Jul 2024₺14.6t₺11.2t₺1.4t16.4x10.3x1.3x
Sun, 16 Jun 2024₺14.2t₺11.2t₺1.4t16x10x1.3x
Tue, 14 May 2024₺14.1t₺11.4t₺1.5t15.7x9.5x1.2x
Thu, 11 Apr 2024₺13.4t₺10.3t₺1.4t15.5x9.3x1.3x
Sat, 09 Mar 2024₺12.8t₺8.9t₺1.4t16.5x9.1x1.4x
Mon, 05 Feb 2024₺12.2t₺8.3t₺1.4t14.2x9x1.5x
Wed, 03 Jan 2024₺10.3t₺8.2t₺1.4t12x7.6x1.3x
Fri, 01 Dec 2023₺10.8t₺8.2t₺1.3t13.1x8x1.3x
Sun, 29 Oct 2023₺10.8t₺7.6t₺1.2t14x8.8x1.4x
Tue, 26 Sep 2023₺10.7t₺7.2t₺1.1t15.5x9.4x1.5x
Thu, 24 Aug 2023₺9.2t₺7.2t₺1.1t13.6x8.1x1.3x
Sat, 22 Jul 2023₺7.6t₺6.7t₺1.1t12.2x7.1x1.1x
Mon, 19 Jun 2023₺6.3t₺6.6t₺1.1t9.6x5.9x0.9x
Wed, 17 May 2023₺6.2t₺6.5t₺1.1t8.3x5.8x0.9x
Fri, 14 Apr 2023₺5.8t₺5.9t₺1.0t9.3x5.7x1x
Sun, 12 Mar 2023₺7.4t₺5.8t₺958.8b10.6x7.8x1.3x
Tue, 07 Feb 2023₺5.4t₺4.9t₺760.3b11.1x7.1x1.1x
Thu, 05 Jan 2023₺6.1t₺4.9t₺680.6b13.8x9x1.2x
Price to Earnings Ratio

9x


Total Market Cap: ₺6.1tTotal Earnings: ₺680.6bTotal Revenue: ₺4.9tTotal Market Cap vs Earnings and Revenue0%0%0%
Turkish Market Price to Earnings3Y Average 11.6x20242025
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 19.1x which is higher than its 3-year average PE of 11.6x.
Past Earnings Growth
  • The earnings for Turkish listed companies have grown 10% 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-0.47%
Healthcare5.58%
Industrials3.15%
Utilities2.06%
Real Estate1.20%
Energy0.79%
Tech0.30%
Materials0.26%
Consumer Staples-0.42%
Consumer Discretionary-0.62%
Telecom-3.64%
Financials-4.29%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 87.1x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 62.3% which is higher than its past year's earnings decline of 44.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Utilities sector, expecting annual earnings growth of 107% 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 7.6% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
KLRHO Kiler Holding Anonim Sirketi₺311.7518.5%
+₺79.2b		857.5%PE326.9xIndustrials
ASELS ASELSAN Elektronik Sanayi ve Ticaret Anonim Sirketi₺226.106.3%
+₺60.6b		208.9%PE54.9xIndustrials
DSTKF Destek Finans Faktoring₺596.006.1%
+₺11.5b		n/aPE62.5xFinancials
AKSEN Aksa Enerji Üretim₺68.0014.2%
+₺10.4b		76.2%PE61.9xUtilities
GUBRF Gübre Fabrikalari Türk Anonim Sirketi₺362.758.7%
+₺9.6b		32.6%PE19.9xMaterials
See more

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Latest News

YKBNK
₺35.18
Yapi ve Kredi Bankasi
7D
-5.5%
1Y
14.4%

YKBNK: Future Earnings Quality Expected To Deteriorate Despite Near Term Profit Lift

Analysts have raised their price target for Yapi ve Kredi Bankasi to approximately $29.70 from about $27.10, citing expectations of stronger profitability and a lower future price to earnings multiple, even as revenue growth forecasts moderate. Valuation Changes The Fair Value Estimate has risen moderately, increasing from TRY 27.10 to around TRY 29.70 per share.
PEKGY
₺15.07
Peker Gayrimenkul Yatirim Ortakligi Anonim Sirketi
7D
10.8%
1Y
898.0%
EFOR
₺25.10
Efor Yatirim Sanayi Ticaret Anonim Sirketi
7D
-18.5%
1Y
168.2%
TERA
₺194.30
Tera Yatirim Menkul Degerler
7D
-34.3%
1Y
2,479.3%
AKBNK
₺69.25
Akbank T.A.S
7D
-5.0%
1Y
5.5%

AKBNK: Higher Margins May Not Offset Risk From Compressed Earnings Multiple

Analysts have raised their price target for Akbank T.A.S., citing improved profit margin expectations and a more attractive forward P/E multiple, resulting in an upward revision in fair value from approximately 56.0 to about 64.5. Valuation Changes Fair Value: Raised from approximately TRY 56.0 to about TRY 64.5, reflecting a moderate upward revision in the bank's estimated intrinsic value. Discount Rate: Increased slightly from around 32.17 percent to roughly 32.50 percent, indicating a marginally higher required return by investors.
GARAN
₺139.40
Turkiye Garanti Bankasi
7D
-3.2%
1Y
10.5%

GARAN: Future Margin Expansion And Lower Earnings Multiple Will Drive Upside

Analysts have modestly trimmed their price target on Turkiye Garanti Bankasi from approximately ₺209 to ₺205, reflecting a slightly higher perceived risk. At the same time, they are factoring in stronger expected revenue growth, expanding profit margins, and a lower future P/E valuation multiple.
ISCTR
₺13.53
Türkiye Is Bankasi
7D
-3.8%
1Y
0.5%

ISCTR: Higher Revenue Outlook Will Offset Margin Pressure And Support Fair Pricing

Analysts have raised their price target for Türkiye Is Bankasi from approximately TRY 13.00 to about TRY 13.92, citing stronger projected revenue growth that more than offsets slightly lower expected profit margins and a modestly higher discount rate. Valuation Changes The fair value estimate increased modestly from TRY 13.00 to approximately TRY 13.92, reflecting higher projected earnings power.
DSTKF
₺596.00
Destek Finans Faktoring
7D
6.1%
1Y
n/a
AKSEN
₺68.00
Aksa Enerji Üretim
7D
11.5%
1Y
75.0%
PKENT
₺182.10
Petrokent Turizm
7D
-11.0%
1Y
-32.1%
KLRHO
₺311.75
Kiler Holding Anonim Sirketi
7D
18.5%
1Y
857.5%
ASELS
₺226.10
ASELSAN Elektronik Sanayi ve Ticaret Anonim Sirketi
7D
6.3%
1Y
208.9%
MAGEN
₺39.08
Margün Enerji Üretim Sanayi ve Ticaret
7D
7.7%
1Y
398.5%
GUBRF
₺362.75
Gübre Fabrikalari Türk Anonim Sirketi
7D
8.7%
1Y
32.6%
POLTK
₺12,320.00
Politeknik Metal Sanayi ve Ticaret Anonim Sirketi
7D
23.2%
1Y
82.9%
QNBTR
₺430.00
QNB Bank
7D
-4.9%
1Y
61.4%