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Turkish (BIST) Market Analysis & Valuation

UpdatedNov 15, 2025
DataAggregated Company Financials
Companies575
  • 7D-3.0%
  • 3M-4.6%
  • 1Y21.9%
  • YTD19.8%

Over the last 7 days, the market has dropped 3.0%, driven by a decline of 4.7% in the Industrials sector. In contrast to the last week, the market is actually up 22% over the past year. Earnings are forecast to grow by 46% annually.

Trending IndustriesOil and GasSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 18 Nov 2025₺16.6t₺16.9t₺917.8b19.2x18.1x1x
Thu, 16 Oct 2025₺16.7t₺15.8t₺795.4b21.5x21x1.1x
Sat, 13 Sep 2025₺16.1t₺15.9t₺797.7b22.5x20.1x1x
Mon, 11 Aug 2025₺18.1t₺15.6t₺827.9b21.3x21.8x1.2x
Wed, 09 Jul 2025₺14.3t₺15.4t₺844.0b18x16.9x0.9x
Fri, 06 Jun 2025₺13.6t₺15.4t₺841.1b18x16.1x0.9x
Sun, 04 May 2025₺13.3t₺15.4t₺857.4b17.5x15.5x0.9x
Tue, 01 Apr 2025₺13.8t₺15.4t₺875.7b17.5x15.8x0.9x
Thu, 27 Feb 2025₺13.2t₺13.0t₺1.2t15.8x11.4x1x
Sat, 25 Jan 2025₺13.8t₺11.4t₺1.2t16x11.2x1.2x
Mon, 23 Dec 2024₺13.3t₺11.4t₺1.2t15.8x10.8x1.2x
Wed, 20 Nov 2024₺12.8t₺11.4t₺1.2t14.8x10.4x1.1x
Fri, 18 Oct 2024₺12.4t₺11.6t₺1.4t14.9x9.1x1.1x
Sun, 15 Sep 2024₺13.2t₺11.6t₺1.4t16.2x9.5x1.1x
Tue, 13 Aug 2024₺13.1t₺11.6t₺1.4t16.3x9.4x1.1x
Thu, 11 Jul 2024₺14.1t₺11.2t₺1.4t15.7x10x1.3x
Sat, 08 Jun 2024₺13.7t₺11.1t₺1.4t15.8x9.7x1.2x
Mon, 06 May 2024₺14.4t₺10.6t₺1.4t15.6x10x1.4x
Wed, 03 Apr 2024₺12.4t₺10.1t₺1.4t14.4x8.9x1.2x
Fri, 01 Mar 2024₺12.7t₺8.5t₺1.4t16.1x9.3x1.5x
Sun, 28 Jan 2024₺11.1t₺8.2t₺1.4t13.7x8.2x1.4x
Tue, 26 Dec 2023₺9.6t₺8.2t₺1.4t11x7.1x1.2x
Thu, 23 Nov 2023₺11.1t₺8.2t₺1.3t13.4x8.3x1.4x
Sat, 21 Oct 2023₺10.4t₺7.2t₺1.1t14.1x9.1x1.4x
Mon, 18 Sep 2023₺10.0t₺7.2t₺1.1t14.2x8.8x1.4x
Wed, 16 Aug 2023₺10.1t₺7.1t₺1.1t13.4x9.1x1.4x
Fri, 14 Jul 2023₺7.3t₺6.7t₺1.1t11.9x6.8x1.1x
Sun, 11 Jun 2023₺6.3t₺6.6t₺1.1t9.6x6x1x
Tue, 09 May 2023₺5.1t₺6.4t₺1.0t7.9x4.9x0.8x
Thu, 06 Apr 2023₺5.5t₺5.9t₺1.0t8.9x5.5x0.9x
Sat, 04 Mar 2023₺5.8t₺5.6t₺898.6b10.7x6.4x1x
Mon, 30 Jan 2023₺5.7t₺5.0t₺684.4b12.5x8.3x1.2x
Wed, 28 Dec 2022₺6.1t₺4.9t₺680.5b14.1x9x1.2x
Fri, 25 Nov 2022₺7.4t₺4.9t₺680.0b12.4x10.8x1.5x
Price to Earnings Ratio

10.8x


Total Market Cap: ₺7.4tTotal Earnings: ₺680.0bTotal Revenue: ₺4.9tTotal Market Cap vs Earnings and Revenue0%0%0%
Turkish Market Price to Earnings3Y Average 11.2x202320242025
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 18.1x which is higher than its 3-year average PE of 11.2x.
Past Earnings Growth
  • The earnings for Turkish listed companies have grown 11% per year over the last three years.
  • Revenues for these companies have grown 51% 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-3.01%
Energy1.16%
Financials-0.84%
Telecom-2.72%
Consumer Staples-2.93%
Materials-3.24%
Tech-3.62%
Utilities-4.31%
Consumer Discretionary-4.50%
Industrials-4.67%
Real Estate-5.14%
Healthcare-5.95%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 79.8x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 69.3% which is higher than its past year's earnings decline of 43.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Utilities sector, expecting annual earnings growth of 104% over the next 5 years.
  • This is better than its past earnings decline of 54% per year.
  • In contrast, the Tech sector is expected to see its earnings grow by 7.3% 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
VAKBN Türkiye Vakiflar Bankasi Türk Anonim Ortakligi₺27.0811.4%
+₺27.6b		12.2%PB1xFinancials
QNBTR QNB Bank₺495.001.4%
+₺23.5b		76.0%PB10.8xFinancials
KOZAL Turk Altin Isletmeleri₺35.6825.0%
+₺22.9b		76.6%PE24.2xMaterials
HALKB Türkiye Halk Bankasi₺28.966.9%
+₺13.5b		82.0%PB1.1xFinancials
LIDER LDR Turizm₺83.5023.2%
+₺12.8b		247.9%PE32.6xIndustrials
See more

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HEDEF
₺52.80
Hedef Holding
7D
-23.0%
1Y
1,642.6%
ECILC
₺97.90
EIS Eczacibasi Ilaç Sinai ve Finansal Yatirimlar Sanayi ve Ticaret
7D
19.4%
1Y
113.8%
BURCE
₺35.24
Burçelik Bursa Çelik Döküm Sanayii
7D
-5.5%
1Y
72.6%
HALKB
₺28.96
Türkiye Halk Bankasi
7D
6.9%
1Y
82.0%

HALKB: Future Profit Margins Will Offset Moderating Revenue Expectations

Analysts have raised their price target for Türkiye Halk Bankasi from ₺28.29 to ₺29.13. They cite improved profit margin projections and a modestly higher fair value, despite slightly lower revenue growth expectations.
EREGL
₺24.00
Eregli Demir ve Çelik Fabrikalari T.A.S
7D
-4.9%
1Y
-5.0%

EREGL: Future Sales Guidance Will Drive Profit Margins Higher

Analysts have raised their price target for Eregli Demir ve Çelik Fabrikalari T.A.S. slightly, from ₺29.64 to ₺29.67. They cite small improvements in expected revenue growth and profit margins as key drivers for the adjustment.
KOZAL
₺35.68
Turk Altin Isletmeleri
7D
25.0%
1Y
76.6%
ISCTR
₺12.24
Türkiye Is Bankasi
7D
-2.7%
1Y
-5.7%

ISCTR: Margin Improvement Will Support Undervalued Shares Despite Discount Rate Increase

Analysts have slightly reduced their price target for Türkiye Is Bankasi from ₺19.10 to ₺18.99. This adjustment reflects slower projected revenue growth and a higher discount rate, partially offset by improved profit margin expectations.
LIDER
₺83.50
LDR Turizm
7D
23.2%
1Y
247.9%
VAKBN
₺27.08
Türkiye Vakiflar Bankasi Türk Anonim Ortakligi
7D
11.4%
1Y
12.2%
ENKAI
₺73.80
Enka Insaat ve Sanayi
7D
-3.2%
1Y
39.8%
THYAO
₺268.50
Türk Hava Yollari Anonim Ortakligi
7D
-3.5%
1Y
-7.0%
GARAN
₺128.00
Turkiye Garanti Bankasi
7D
-1.6%
1Y
12.5%

GARAN: Improving Profit Margins And Lower Discount Rate Will Drive Future Performance

Narrative Update on Turkiye Garanti Bankasi: Analyst Price Target Revision Analysts have raised their fair value estimate for Turkiye Garanti Bankasi from ₺168.18 to ₺173.52, citing improved profit margins and a slightly reduced discount rate as key drivers of the target increase. Valuation Changes The Fair Value Estimate has risen slightly, from TRY 168.18 to TRY 173.52.
PKENT
₺250.00
Petrokent Turizm
7D
-12.0%
1Y
-2.0%
TUPRS
₺201.70
Türkiye Petrol Rafinerileri
7D
2.6%
1Y
37.0%
QNBTR
₺495.00
QNB Bank
7D
1.4%
1Y
76.0%
DSTKF
₺751.00
Destek Finans Faktoring
7D
4.5%
1Y
n/a