Turkcell Iletisim Hizmetleri A.S.

DB:TUL1 Stock Report

Market Cap: €5.8b

Turkcell Iletisim Hizmetleri Valuation

Is TUL1 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of TUL1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TUL1 (€6.3) is trading below our estimate of fair value (€20.69)

Significantly Below Fair Value: TUL1 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TUL1?

Key metric: As TUL1 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for TUL1. This is calculated by dividing TUL1's market cap by their current earnings.
What is TUL1's PE Ratio?
PE Ratio8x
Earnings₺26.07b
Market Cap₺209.19b

Price to Earnings Ratio vs Peers

How does TUL1's PE Ratio compare to its peers?

The above table shows the PE ratio for TUL1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average17.3x
FNTN freenet
12.2x4.2%€3.3b
1U1 1&1
8x4.3%€2.1b
O2D Telefónica Deutschland Holding
22.6x-11.4%€6.2b
O2D Telefónica Deutschland Holding
26.5x-41.1%€7.2b
TUL1 Turkcell Iletisim Hizmetleri
7.9x28.2%€206.5b

Price-To-Earnings vs Peers: TUL1 is good value based on its Price-To-Earnings Ratio (8x) compared to the peer average (17.3x).

Price to Earnings Ratio vs Industry

How does TUL1's PE Ratio compare vs other companies in the Global Wireless Telecom Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
TUL1 8.0xIndustry Avg. 17.5xNo. of Companies10PE01020304050+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TUL1 is good value based on its Price-To-Earnings Ratio (8x) compared to the Global Wireless Telecom industry average (17.5x).

Price to Earnings Ratio vs Fair Ratio

What is TUL1's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TUL1 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8x
Fair PE Ratio29.8x

Price-To-Earnings vs Fair Ratio: TUL1 is good value based on its Price-To-Earnings Ratio (8x) compared to the estimated Fair Price-To-Earnings Ratio (29.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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