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Turkish (BIST) Market Analysis & Valuation
UpdatedMay 15, 2025
DataAggregated Company Financials
Companies575
- 7D5.9%
- 3M3.4%
- 1Y-8.6%
- YTD0.5%
Over the last 7 days, the market has risen 5.9%, driven by gains in every sector, especially the Financials sector. In contrast, the market has seen a decline of 8.6% over the last 12 months. As for the next few years, earnings are expected to grow by 34% 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, 16 May 2025 | ₺13.8t | ₺15.4t | ₺845.4b | 19x | 16.3x | 0.9x |
| Sun, 13 Apr 2025 | ₺13.5t | ₺15.4t | ₺876.4b | 17.6x | 15.4x | 0.9x |
| Tue, 11 Mar 2025 | ₺14.3t | ₺14.6t | ₺957.8b | 17.6x | 14.9x | 1x |
| Thu, 06 Feb 2025 | ₺13.3t | ₺11.6t | ₺1.2t | 14.8x | 11x | 1.1x |
| Sat, 04 Jan 2025 | ₺13.6t | ₺11.4t | ₺1.2t | 16.2x | 11.1x | 1.2x |
| Mon, 02 Dec 2024 | ₺13.2t | ₺11.4t | ₺1.2t | 15.3x | 10.7x | 1.2x |
| Wed, 30 Oct 2024 | ₺12.3t | ₺11.5t | ₺1.3t | 15x | 9.2x | 1.1x |
| Fri, 27 Sep 2024 | ₺13.2t | ₺11.5t | ₺1.4t | 16x | 9.6x | 1.1x |
| Sun, 25 Aug 2024 | ₺13.0t | ₺11.6t | ₺1.4t | 16.2x | 9.2x | 1.1x |
| Tue, 23 Jul 2024 | ₺14.6t | ₺11.2t | ₺1.4t | 16.6x | 10.3x | 1.3x |
| Thu, 20 Jun 2024 | ₺14.2t | ₺11.2t | ₺1.4t | 16.1x | 10x | 1.3x |
| Sat, 18 May 2024 | ₺14.7t | ₺11.5t | ₺1.5t | 16.2x | 9.9x | 1.3x |
| Mon, 15 Apr 2024 | ₺13.4t | ₺10.3t | ₺1.4t | 15.6x | 9.3x | 1.3x |
| Wed, 13 Mar 2024 | ₺12.7t | ₺8.9t | ₺1.4t | 15.9x | 9.1x | 1.4x |
| Fri, 09 Feb 2024 | ₺11.8t | ₺8.2t | ₺1.4t | 14.9x | 8.7x | 1.4x |
| Sun, 07 Jan 2024 | ₺10.3t | ₺8.2t | ₺1.4t | 11.9x | 7.6x | 1.3x |
| Tue, 05 Dec 2023 | ₺10.8t | ₺8.2t | ₺1.3t | 13.2x | 8x | 1.3x |
| Thu, 02 Nov 2023 | ₺10.6t | ₺7.7t | ₺1.2t | 13.4x | 8.6x | 1.4x |
| Sat, 30 Sep 2023 | ₺11.2t | ₺7.2t | ₺1.1t | 16x | 9.8x | 1.6x |
| Mon, 28 Aug 2023 | ₺10.8t | ₺7.2t | ₺1.1t | 13.6x | 9.5x | 1.5x |
| Wed, 26 Jul 2023 | ₺7.5t | ₺6.7t | ₺1.1t | 12.4x | 7.1x | 1.1x |
| Fri, 23 Jun 2023 | ₺6.0t | ₺6.6t | ₺1.1t | 9.5x | 5.6x | 0.9x |
| Sun, 21 May 2023 | ₺5.7t | ₺6.6t | ₺1.1t | 8.3x | 5.4x | 0.9x |
| Tue, 18 Apr 2023 | ₺5.7t | ₺5.9t | ₺1.0t | 9.2x | 5.7x | 1x |
| Thu, 16 Mar 2023 | ₺6.8t | ₺5.9t | ₺989.9b | 9.7x | 6.9x | 1.2x |
| Sat, 11 Feb 2023 | ₺4.7t | ₺5.2t | ₺799.3b | 9.7x | 5.8x | 0.9x |
| Mon, 09 Jan 2023 | ₺5.9t | ₺4.9t | ₺680.6b | 13.4x | 8.7x | 1.2x |
| Wed, 07 Dec 2022 | ₺5.7t | ₺4.9t | ₺679.9b | 13.6x | 8.3x | 1.2x |
| Fri, 04 Nov 2022 | ₺4.5t | ₺4.1t | ₺551.5b | 12.5x | 8.2x | 1.1x |
| Sun, 02 Oct 2022 | ₺3.6t | ₺3.9t | ₺499.4b | 10.2x | 7.2x | 0.9x |
| Tue, 30 Aug 2022 | ₺4.2t | ₺3.9t | ₺498.3b | 9.7x | 8.5x | 1.1x |
| Thu, 28 Jul 2022 | ₺3.0t | ₺3.1t | ₺350.7b | 11.3x | 8.4x | 1x |
| Sat, 25 Jun 2022 | ₺2.9t | ₺3.0t | ₺349.5b | 10.9x | 8.3x | 1x |
| Mon, 23 May 2022 | ₺2.8t | ₺3.0t | ₺349.9b | 9.6x | 8x | 0.9x |
Price to Earnings Ratio
8x
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 16.2x which is higher than its 3-year average PE of 9.0x.
Past Earnings Growth
- The earnings for Turkish listed companies have grown 35% per year over the last three years.
- Revenues for these companies have grown 72% 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 | 2.78% | |
| Telecom | 8.16% | |
| Utilities | 5.35% | |
| Financials | 4.40% | |
| Consumer Discretionary | 4.29% | |
| Healthcare | 3.72% | |
| Real Estate | 3.59% | |
| Materials | 2.02% | |
| Consumer Staples | 1.97% | |
| Tech | 1.80% | |
| Energy | 1.36% | |
| Industrials | 0.18% | |
Sector PE
- Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 20.0x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 37.3% which is higher than its past year's earnings decline of 25.7% per year.
Forecasted Growth
- Analysts are most optimistic on the Utilities sector, expecting annual earnings growth of 114% over the next 5 years.
- This is better than its past earnings decline of 50% per year.
- In contrast, the Healthcare sector is expected to see its earnings grow by 22% 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 | |
|---|---|---|---|---|---|---|
| GARAN Turkiye Garanti Bankasi | ₺110.10 | 9.3% +₺39.5b | 24.0% | PB1.4x | Financials | |
| QNBTR QNB Bank | ₺270.75 | 3.6% +₺31.8b | -30.0% | PB7.1x | Financials | |
| PKENT Petrokent Turizm | ₺232.40 | 16.6% +₺27.5b | -34.2% | PE1192.9x | Consumer Discretionary | |
| TTKOM Türk Telekomünikasyon Anonim Sirketi | ₺61.45 | 10.1% +₺19.8b | 46.8% | PE21.4x | Telecom | |
| KCHOL Koç Holding | ₺148.40 | 5.5% +₺19.5b | -37.9% | PS0.2x | Industrials |
