Narrative Update • Jul 24
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Turkish (BIST) Market Analysis & Valuation
UpdatedJul 27, 2026
DataAggregated Company Financials
Companies605
- 7D-0.2%
- 3M-3.2%
- 1Y31.8%
- YTD10.7%
Over the last 7 days, the market has remained flat, although notably the Information Technology sector gained 8.0% in that time. As for the longer term, the market has risen 32% in the past 12 months. Earnings are forecast to grow by 36% 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 |
|---|---|---|---|---|---|---|
| Mon, 27 Jul 2026 | ₺23.5t | ₺21.6t | ₺1.2t | 19.8x | 19.7x | 1.1x |
| Wed, 24 Jun 2026 | ₺23.0t | ₺21.5t | ₺1.2t | 19.6x | 19.2x | 1.1x |
| Fri, 22 May 2026 | ₺20.7t | ₺21.4t | ₺1.2t | 19.1x | 17.4x | 1x |
| Sun, 19 Apr 2026 | ₺23.2t | ₺20.9t | ₺1.1t | 19.6x | 21x | 1.1x |
| Tue, 17 Mar 2026 | ₺19.9t | ₺20.6t | ₺1.1t | 19.4x | 18.3x | 1x |
| Thu, 12 Feb 2026 | ₺20.5t | ₺17.1t | ₺966.2b | 21.4x | 21.2x | 1.2x |
| Sat, 10 Jan 2026 | ₺18.5t | ₺16.4t | ₺911.7b | 18.1x | 20.3x | 1.1x |
| Mon, 08 Dec 2025 | ₺17.1t | ₺16.4t | ₺910.0b | 17.6x | 18.8x | 1x |
| Wed, 05 Nov 2025 | ₺17.3t | ₺15.9t | ₺863.8b | 22.9x | 20.1x | 1.1x |
| Fri, 03 Oct 2025 | ₺17.0t | ₺15.8t | ₺792.5b | 22.6x | 21.4x | 1.1x |
| Sun, 31 Aug 2025 | ₺17.9t | ₺15.9t | ₺799.8b | 22.9x | 22.3x | 1.1x |
| Tue, 29 Jul 2025 | ₺15.6t | ₺15.4t | ₺821.0b | 19.3x | 19x | 1x |
| Thu, 26 Jun 2025 | ₺13.5t | ₺15.4t | ₺842.6b | 17.6x | 16x | 0.9x |
| Sat, 24 May 2025 | ₺13.5t | ₺15.4t | ₺851.7b | 17.8x | 15.8x | 0.9x |
| Mon, 21 Apr 2025 | ₺13.4t | ₺15.4t | ₺872.8b | 17.5x | 15.4x | 0.9x |
| Wed, 19 Mar 2025 | ₺15.0t | ₺15.3t | ₺877.0b | 19x | 17.1x | 1x |
| Fri, 14 Feb 2025 | ₺13.4t | ₺11.7t | ₺1.2t | 15.2x | 11.1x | 1.1x |
| Sun, 12 Jan 2025 | ₺13.5t | ₺11.4t | ₺1.2t | 16x | 11x | 1.2x |
| Tue, 10 Dec 2024 | ₺13.9t | ₺11.4t | ₺1.2t | 16.8x | 11.3x | 1.2x |
| Thu, 07 Nov 2024 | ₺12.2t | ₺11.7t | ₺1.3t | 14.4x | 9.7x | 1x |
| Sat, 05 Oct 2024 | ₺12.4t | ₺11.7t | ₺1.4t | 14.5x | 9.2x | 1.1x |
| Mon, 02 Sep 2024 | ₺13.5t | ₺11.6t | ₺1.4t | 16.4x | 9.7x | 1.2x |
| Wed, 31 Jul 2024 | ₺14.2t | ₺11.3t | ₺1.4t | 17x | 10.1x | 1.3x |
| Fri, 28 Jun 2024 | ₺14.2t | ₺11.2t | ₺1.4t | 16.1x | 10x | 1.3x |
| Sun, 26 May 2024 | ₺14.6t | ₺11.7t | ₺1.5t | 16.7x | 9.9x | 1.2x |
| Tue, 23 Apr 2024 | ₺13.3t | ₺10.4t | ₺1.4t | 15.5x | 9.2x | 1.3x |
| Thu, 21 Mar 2024 | ₺12.6t | ₺9.8t | ₺1.4t | 15.4x | 9x | 1.3x |
| Sat, 17 Feb 2024 | ₺12.4t | ₺8.3t | ₺1.4t | 15.9x | 9.1x | 1.5x |
| Mon, 15 Jan 2024 | ₺10.6t | ₺8.2t | ₺1.4t | 12.2x | 7.8x | 1.3x |
| Wed, 13 Dec 2023 | ₺10.3t | ₺8.2t | ₺1.3t | 12.7x | 7.6x | 1.3x |
| Fri, 10 Nov 2023 | ₺12.0t | ₺8.0t | ₺1.3t | 13.5x | 9.2x | 1.5x |
| Sun, 08 Oct 2023 | ₺11.3t | ₺7.2t | ₺1.1t | 16.6x | 9.9x | 1.6x |
| Tue, 05 Sep 2023 | ₺9.9t | ₺7.2t | ₺1.1t | 14.3x | 8.7x | 1.4x |
| Thu, 03 Aug 2023 | ₺8.3t | ₺6.8t | ₺1.1t | 12.8x | 7.5x | 1.2x |
Price to Earnings Ratio
7.5x
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 19.7x which is higher than its 3-year average PE of 14.1x.
Past Earnings Growth
- The earnings for Turkish listed companies have grown 3.3% per year over the last three years.
- Revenues for these companies have grown 47% 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 | -0.19% | |
| Tech | 8.02% | |
| Energy | 5.13% | |
| Industrials | 3.17% | |
| Utilities | 2.42% | |
| Materials | 0.98% | |
| Consumer Staples | 0.63% | |
| Real Estate | -0.90% | |
| Consumer Discretionary | -2.21% | |
| Financials | -3.41% | |
| Telecom | -4.46% | |
| Healthcare | -4.54% | |
Sector PE
- Investors favour the Consumer Discretionary sector the most for future growth which is trading above its 3-year average PE ratio.
- The market's confidence is likely because analysts are expecting annual earnings growth of 41.2% which is higher than its past year's earnings decline of 20.1% per year.
Forecasted Growth
- Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 60% over the next 5 years.
- This is better than its past earnings decline of 20% per year.
- In contrast, the Energy sector is expected to see its earnings grow by 17% 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 | |
|---|---|---|---|---|---|---|
| ASELS ASELSAN Elektronik Sanayi ve Ticaret Anonim Sirketi | ₺380.25 | 7.3% +₺117.4b | 109.7% | PE53.3x | Industrials | |
| HEDEF Hedef Holding | ₺233.00 | 8.6% +₺55.5b | 3,467.8% | PE402.1x | Financials | |
| ODINE Odine Solutions Teknoloji Ticaret ve Sanayi | ₺2.47k | 13.8% +₺33.2b | 2,011.1% | PE9619.1x | Tech | |
| TUPRS Türkiye Petrol Rafinerileri | ₺304.25 | 5.2% +₺28.9b | 82.1% | PE17.7x | Energy | |
| OZATD Özata Denizcilik Sanayi ve Ticaret Anonim Sirketi | ₺3.12k | 12.4% +₺24.6b | 1,308.6% | PS83.6x | Industrials |
