Turkish (BIST) Market Analysis & Valuation
UpdatedApr 19, 2024
DataAggregated Company Financials
Companies535
- 7D-2.8%
- 3M20.0%
- 1Y113.8%
- YTD24.4%
Over the last 7 days, the market has dropped 2.8%, driven by losses in the Financials and Industrials sectors of 2.7% and 2.9%, respectively. As for the longer term, the market has actually risen by 114% in the last year. As for the next few years, earnings are expected to grow by 22% per annum.
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, 19 Apr 2024 | ₺13.1t | ₺10.4t | ₺1.4t | 15.3x | 9.1x | 1.3x |
| Sun, 17 Mar 2024 | ₺12.5t | ₺9.6t | ₺1.4t | 15.3x | 9x | 1.3x |
| Tue, 13 Feb 2024 | ₺12.2t | ₺8.3t | ₺1.4t | 15.5x | 8.9x | 1.5x |
| Thu, 11 Jan 2024 | ₺10.5t | ₺8.2t | ₺1.4t | 12.1x | 7.7x | 1.3x |
| Sat, 09 Dec 2023 | ₺10.5t | ₺8.2t | ₺1.3t | 13x | 7.8x | 1.3x |
| Mon, 06 Nov 2023 | ₺10.8t | ₺7.9t | ₺1.3t | 13.4x | 8.4x | 1.4x |
| Wed, 04 Oct 2023 | ₺11.3t | ₺7.2t | ₺1.1t | 16.3x | 9.9x | 1.6x |
| Fri, 01 Sep 2023 | ₺9.6t | ₺7.2t | ₺1.1t | 14.2x | 8.4x | 1.3x |
| Sun, 30 Jul 2023 | ₺8.1t | ₺6.8t | ₺1.1t | 12.7x | 7.4x | 1.2x |
| Tue, 27 Jun 2023 | ₺6.5t | ₺6.7t | ₺1.1t | 9.9x | 6.1x | 1x |
| Thu, 25 May 2023 | ₺5.6t | ₺6.6t | ₺1.1t | 8.3x | 5.3x | 0.8x |
| Sat, 22 Apr 2023 | ₺5.7t | ₺5.9t | ₺1.0t | 8.9x | 5.6x | 1x |
| Mon, 20 Mar 2023 | ₺5.7t | ₺5.9t | ₺963.0b | 9.9x | 5.9x | 1x |
| Wed, 15 Feb 2023 | ₺4.7t | ₺5.4t | ₺828.0b | 9.6x | 5.6x | 0.9x |
| Fri, 13 Jan 2023 | ₺5.5t | ₺4.9t | ₺680.6b | 12.3x | 8.1x | 1.1x |
| Sun, 11 Dec 2022 | ₺5.7t | ₺4.9t | ₺679.9b | 13.5x | 8.4x | 1.2x |
| Tue, 08 Nov 2022 | ₺4.8t | ₺4.7t | ₺627.4b | 12.2x | 7.6x | 1x |
| Thu, 06 Oct 2022 | ₺3.8t | ₺3.9t | ₺499.4b | 10.7x | 7.7x | 1x |
| Sat, 03 Sep 2022 | ₺3.6t | ₺3.9t | ₺498.3b | 10.2x | 7.3x | 0.9x |
| Mon, 01 Aug 2022 | ₺3.0t | ₺3.1t | ₺390.8b | 11.5x | 7.7x | 1x |
| Wed, 29 Jun 2022 | ₺2.8t | ₺3.0t | ₺349.6b | 10.6x | 8.2x | 0.9x |
| Fri, 27 May 2022 | ₺2.9t | ₺3.0t | ₺349.5b | 9.6x | 8.3x | 1x |
| Sun, 24 Apr 2022 | ₺2.7t | ₺2.5t | ₺283.6b | 11.9x | 9.5x | 1.1x |
| Tue, 22 Mar 2022 | ₺2.4t | ₺2.5t | ₺280.6b | 10.9x | 8.5x | 1x |
| Thu, 17 Feb 2022 | ₺2.5t | ₺2.2t | ₺241.8b | 13.7x | 10.5x | 1.2x |
| Sat, 15 Jan 2022 | ₺2.6t | ₺2.1t | ₺213.4b | 15.2x | 12.4x | 1.3x |
| Mon, 13 Dec 2021 | ₺2.3t | ₺2.1t | ₺213.6b | 16.1x | 10.8x | 1.1x |
| Wed, 10 Nov 2021 | ₺4.0t | ₺2.0t | ₺205.0b | 15.4x | 19.7x | 2x |
| Fri, 08 Oct 2021 | ₺1.6t | ₺1.8t | ₺171.5b | 14.8x | 9.4x | 0.9x |
| Sun, 05 Sep 2021 | ₺1.7t | ₺1.8t | ₺171.2b | 15.4x | 9.9x | 0.9x |
| Tue, 03 Aug 2021 | ₺1.6t | ₺1.8t | ₺170.7b | 14.8x | 9.5x | 0.9x |
| Fri, 07 May 2021 | ₺1.7t | ₺1.6t | ₺141.2b | 17.8x | 11.7x | 1.1x |
Price to Earnings Ratio
11.7x
Current Market PE
- Investors are relatively neutral on the Turkish market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
- The market is trading close to its 3-year average PE ratio of 8.8x.
Past Earnings Growth
- The earnings for Turkish listed companies have grown 117% per year over the last three years.
- Revenues for these companies have grown 88% 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 | -2.81% | |
| Utilities | 1.44% | |
| Healthcare | 0.68% | |
| Energy | -1.30% | |
| Telecom | -1.56% | |
| Consumer Discretionary | -1.83% | |
| Real Estate | -2.01% | |
| Financials | -2.73% | |
| Industrials | -2.91% | |
| Materials | -3.81% | |
| Tech | -4.72% | |
| Consumer Staples | -5.37% | |
Sector PE
- Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 33.9x.
- Analysts are expecting annual earnings growth of 79.2%, which is lower than the prior year's growth of 95.3% per year.
- The Real Estate sector is the least preferred by investors for future growth, which is trading below its 3-year average of 6.6x.
Forecasted Growth
- Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 79% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- In contrast, the Utilities sector is expected to see its earnings decline by 37% 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 | |
|---|---|---|---|---|---|---|
| AKBNK Akbank T.A.S | ₺58.55 | 3.3% +₺9.6b | 230.8% | PB1.4x | Financials | |
| QNBFL QNB Finans Finansal Kiralama | ₺153.50 | 5.9% +₺8.5b | 1,430.7% | PE186.2x | Financials | |
| UFUK UFUK Yatirim Yonetim ve Gayrimenkul | ₺450.50 | 43.6% +₺6.4b | 734.3% | PS220.4x | Real Estate | |
| AKENR Akenerji Elektrik Üretim | ₺26.52 | 46.1% +₺6.1b | 465.5% | PE3.8x | Utilities | |
| KCAER Kocaer Celik Sanayi ve Ticaret Anonim Sirketi | ₺59.70 | 14.1% +₺4.9b | 277.4% | PE33.1x | Materials |
