Turkcell Iletisim Hizmetleri A.S. (TKC) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Nov 4, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Apr 17, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TKC SEC filings page.
Turkcell Iletisim Hizmetleri A.S. (TKC) reported $5.6B in revenue for fiscal year 2025. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (20-F and 6-K reports).
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Turkcell Iletisim Hizmetleri A.S.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Turkcell Iletisim Hizmetleri A.S. has an operating margin of 15.9%, meaning the company retains $16 of operating profit per $100 of revenue. This results in a moderate score of 61/100, indicating healthy but not exceptional operating efficiency. This is up from 7.3% the prior year.
Turkcell Iletisim Hizmetleri A.S.'s revenue surged 55.0% year-over-year to $5.6B, reflecting rapid business expansion. This strong growth earns a score of 89/100.
Turkcell Iletisim Hizmetleri A.S. has a moderate D/E ratio of 0.47. This balance of debt and equity financing earns a leverage score of 63/100.
Turkcell Iletisim Hizmetleri A.S.'s current ratio of 1.70 indicates adequate short-term liquidity, earning a score of 50/100. The company can meet its near-term obligations, though with limited headroom.
Turkcell Iletisim Hizmetleri A.S. converts 21.8% of revenue into free cash flow ($1.2B). This strong cash generation earns a score of 90/100.
Turkcell Iletisim Hizmetleri A.S.'s ROE of 6.8% shows moderate profitability relative to equity, earning a score of 51/100. This is down from 10.3% the prior year.
Turkcell Iletisim Hizmetleri A.S. scores 1.87, placing it in the grey zone between 1.81 and 2.99. The largest contribution to the score comes from retained earnings of $4.5B against total assets of $11.7B. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Turkcell Iletisim Hizmetleri A.S. passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Turkcell Iletisim Hizmetleri A.S. generates $5.49 in operating cash flow ($2.2B OCF vs $409.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Turkcell Iletisim Hizmetleri A.S. earns $1.74 in operating income for every $1 of interest expense ($891.7M vs $513.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Turkcell Iletisim Hizmetleri A.S. generated $5.6B in revenue in fiscal year 2025.
Turkcell Iletisim Hizmetleri A.S. reported $409.7M in net income in fiscal year 2025.
Turkcell Iletisim Hizmetleri A.S. earned $0.19 per diluted share (EPS) in fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Turkcell Iletisim Hizmetleri A.S. generated $1.2B in free cash flow in fiscal year 2025, representing cash available after capex.
Turkcell Iletisim Hizmetleri A.S. held $2.1B in cash against $2.9B in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Turkcell Iletisim Hizmetleri A.S.'s gross margin was 28.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs.
Turkcell Iletisim Hizmetleri A.S.'s operating margin was 15.9% in fiscal year 2025, reflecting core business profitability.
Turkcell Iletisim Hizmetleri A.S.'s net profit margin was 7.3% in fiscal year 2025, showing the share of revenue converted to profit.
Turkcell Iletisim Hizmetleri A.S.'s ROE was 6.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Capital Allocation
Turkcell Iletisim Hizmetleri A.S. invested $10.5M in research and development in fiscal year 2025.
Turkcell Iletisim Hizmetleri A.S. spent $6.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Turkcell Iletisim Hizmetleri A.S. invested $1.0B in capex in fiscal year 2025, funding long-term assets and infrastructure.
TKC Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.6B | $3.6B+10.2% | $3.3B+23.1% | $2.7B-31.9% | $3.9B-7.2% | $4.2B+5.0% | $4.0B-10.4% | $4.5B |
| Cost of Revenue | $4.0B | $2.9B+0.9% | $2.8B+51.0% | $1.9B-31.5% | $2.7B-4.6% | $2.9B+7.4% | $2.7B-8.5% | $2.9B |
| Gross Profit | $1.6B | $768.1M+68.5% | $455.8M-42.7% | $794.8M-32.7% | $1.2B-12.8% | $1.4B+0.2% | $1.4B-18.5% | $1.7B |
| R&D Expenses | $10.5M | $4.5M+67.2% | $2.7M | N/A | N/A | N/A | N/A | N/A |
| Operating Income | $891.7M | $264.4M+85.3% | $142.7M-73.9% | $546.6M-29.7% | $777.2M-8.1% | $845.9M+2.7% | $823.9M+6.5% | $773.5M |
| EBITDA | N/A | N/A | N/A | N/A | N/A | $1.2B+2.9% | $1.2B+1.1% | $1.2B |
| Interest Expense | $513.5M | $674.5M+65.5% | $407.7M-15.6% | $482.7M+10.3% | $437.8M+28.6% | $340.4M-50.2% | $683.9M+83.5% | $372.8M |
| Income Tax | $311.9M | -$158.2Mn/m | -$86.3Mn/m | -$36.4M-169.9% | $52.1M-60.5% | $132.0M+41.0% | $93.6M-37.9% | $150.8M |
| Net Income | $409.7M | $424.8M+90.4% | $223.1M-40.4% | $374.1M-34.4% | $570.5M+4.6% | $545.6M+42.9% | $381.9M-26.8% | $522.1M |
| EPS (Basic) | $0.19 | $0.19+91.7% | $0.10-40.6% | $0.17 | N/A | N/A | N/A | N/A |
| EPS (Diluted) | $0.19 | $0.19+91.7% | $0.10-40.6% | $0.17 | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: SG&A Expenses, Diluted Shares (Avg).
No annual filing on record for: FY2024.
TKC Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $11.7B | $8.4B+9.7% | $7.6B+45.0% | $5.3B-24.2% | $6.9B-9.7% | $7.7B-4.9% | $8.1B-9.8% | $9.0B |
| Current Assets | $3.6B | $3.5B+38.4% | $2.5B+14.2% | $2.2B-20.8% | $2.8B-14.7% | $3.2B-6.2% | $3.5B-6.6% | $3.7B |
| Cash & Equivalents | $2.1B | $1.7B+21.9% | $1.4B+0.1% | $1.4B-13.3% | $1.6B-7.2% | $1.7B+22.7% | $1.4B+12.8% | $1.2B |
| Inventory | $20.9M | $18.3M+14.0% | $16.0M-17.1% | $19.4M-29.4% | $27.4M-8.5% | $30.0M-12.1% | $34.1M+24.2% | $27.5M |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $751.4M |
| Goodwill | $2.4B | $2.0B-0.7% | $2.0B+82.9% | $1.1B-34.5% | $1.7B-12.4% | $1.9B+0.1% | $1.9B-13.7% | $2.2B |
| Total Liabilities | $5.6B | $4.2B+3.7% | $4.1B+13.8% | $3.6B-13.5% | $4.1B-10.9% | $4.6B-8.0% | $5.0B+1.1% | $5.0B |
| Current Liabilities | $2.1B | $2.0B+24.3% | $1.6B+23.7% | $1.3B-18.4% | $1.6B-26.8% | $2.1B-4.1% | $2.2B-8.8% | $2.4B |
| Non-Current Liabilities | $3.5B | $2.3B-9.2% | $2.5B+8.4% | $2.3B-10.5% | $2.6B+2.4% | $2.5B-11.0% | $2.8B+10.4% | $2.6B |
| Long-Term Debt | $2.9B | $2.0B-1.2% | $2.0B-4.5% | $2.1B-5.7% | $2.2B+9.9% | $2.0B-19.2% | $2.5B+13.8% | $2.2B |
| Total Equity | $6.0B | $4.1B+16.7% | $3.5B+111.4% | $1.7B-40.1% | $2.8B-7.7% | $3.0B+0.8% | $3.0B-23.9% | $4.0B |
| Retained Earnings | $4.5B | $2.9B+17.5% | $2.5B+85.1% | $1.4B-38.6% | $2.2B-0.5% | $2.2B+3.4% | $2.1B-28.1% | $3.0B |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.
No annual filing on record for: FY2024.
TKC Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.2B | $1.4B+3.8% | $1.4B-8.3% | $1.5B-15.9% | $1.8B+16.2% | $1.5B+37.7% | $1.1B+34.7% | $818.1M |
| Depreciation & Amortization | N/A | N/A | N/A | N/A | N/A | $369.7M+3.3% | $358.0M-9.6% | $396.1M |
| Capital Expenditures | $1.0B | $481.1M-2.0% | $490.7M+18.5% | $414.0M-21.3% | $525.7M-2.1% | $537.0M-4.0% | $559.5M-27.8% | $774.8M |
| Free Cash Flow | $1.2B | $930.8M+7.1% | $869.5M-18.7% | $1.1B-13.6% | $1.2B+26.2% | $980.1M+80.7% | $542.2M+1152.8% | $43.3M |
| Investing Cash Flow | -$1.7B | -$707.5Mn/m | -$1.0Bn/m | -$679.4Mn/m | -$913.0Mn/m | -$508.8Mn/m | -$857.1Mn/m | -$871.7M |
| Financing Cash Flow | -$35.6M | $229.1M+107.4% | $110.5Mn/m | -$293.1Mn/m | -$574.7Mn/m | -$584.5Mn/m | -$101.0Mn/m | -$413.3M |
| Dividends Paid | $209.1M | $84.1M+9.3% | $76.9M-60.0% | $192.3M+75.9% | $109.3M-35.6% | $169.7M-52.7% | $359.1M-54.5% | $788.9M |
| Share Buybacks | $6.0M | $1.6M | N/A | $0-100.0% | $1.3M-19.9% | $1.7M-90.6% | $17.9M | N/A |
Not reported in any period shown, so not listed: Stock-Based Compensation.
No annual filing on record for: FY2024.
TKC Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 28.3% | 21.2%+7.3pp | 13.9%-15.9pp | 29.8%-0.4pp | 30.1%-1.9pp | 32.0%-1.5pp | 33.6%-3.3pp | 36.9% |
| Operating Margin | 15.9% | 7.3%+3.0pp | 4.3%-16.1pp | 20.5%+0.6pp | 19.8%-0.2pp | 20.0%-0.5pp | 20.5%+3.3pp | 17.2% |
| Net Margin | 7.3% | 11.7%+4.9pp | 6.8%-7.2pp | 14.0%-0.6pp | 14.6%+1.6pp | 12.9%+3.4pp | 9.5%-2.1pp | 11.6% |
| Return on Equity | 6.8% | 10.3%+4.0pp | 6.3%-16.0pp | 22.3%+1.9pp | 20.4%+2.4pp | 18.0%+5.3pp | 12.7%-0.5pp | 13.2% |
| Return on Assets | 3.5% | 5.1%+2.1pp | 2.9%-4.2pp | 7.1%-1.1pp | 8.2%+1.1pp | 7.1%+2.4pp | 4.7%-1.1pp | 5.8% |
| Current Ratio | 1.70 | 1.78+0.2x | 1.59-0.1x | 1.73-0.1x | 1.78+0.3x | 1.530.0x | 1.560.0x | 1.53 |
| Debt-to-Equity | 0.47 | 0.47-0.1x | 0.56-0.7x | 1.24+0.5x | 0.79+0.1x | 0.66-0.2x | 0.82+0.3x | 0.55 |
| Liabilities-to-Equity | 0.93 | 1.02-0.1x | 1.15-1.0x | 2.13+0.7x | 1.48-0.1x | 1.53-0.1x | 1.68+0.4x | 1.26 |
| Asset Turnover | 0.48 | 0.430.0x | 0.43-0.1x | 0.51-0.1x | 0.570.0x | 0.55+0.1x | 0.500.0x | 0.50 |
| FCF Margin | 21.8% | 25.7%-0.8pp | 26.4%-13.6pp | 40.0%+8.5pp | 31.6%+8.4pp | 23.2%+9.7pp | 13.5%+12.5pp | 1.0% |
No annual filing on record for: FY2024.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Turkcell Iletisim Hizmetleri A.S. TKC | FY2025 | $5.6B | $409.7M | 7.3% | $4.1B | 67/100 |
| Telephone and Data Systems Inc. TDS | FY2025 | $1.2B | -$6.2M | -0.5% | $4.1B | 47/100 |
| Telecom Argentina S.A. TEO | FY2025 | $5.7B | -$116.5M | -2.0% | $4.5B | 45/100 |
| PLDT Inc. PHI | FY2025 | $3.7B | $486.2M | 13.1% | $3.9B | 44/100 |
| Lumen Technologies, Inc. LUMN | FY2025 | $12.4B | -$1.7B | -14.0% | $4.6B | 23/100 |
| Liberty Global Ltd. LBTYB | FY2025 | $4.9B | -$7.1B | N/A | $4.0B | 35/100 |
Where Turkcell Iletisim Hizmetleri A.S. Ranks
Frequently Asked Questions
Turkcell Iletisim Hizmetleri A.S. (TKC) reported $5.6B in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Yes, Turkcell Iletisim Hizmetleri A.S. (TKC) reported a net income of $409.7M in fiscal year 2025, with a net profit margin of 7.3%.
As of fiscal year 2025, Turkcell Iletisim Hizmetleri A.S. (TKC) had $2.1B in cash and equivalents against $2.9B in long-term debt.
Turkcell Iletisim Hizmetleri A.S. (TKC) had a gross margin of 28.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
Turkcell Iletisim Hizmetleri A.S. (TKC) had an operating margin of 15.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
Turkcell Iletisim Hizmetleri A.S. (TKC) had a net profit margin of 7.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Turkcell Iletisim Hizmetleri A.S. (TKC) has a return on equity of 6.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Turkcell Iletisim Hizmetleri A.S. (TKC) generated $1.2B in free cash flow during fiscal year 2025. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
Turkcell Iletisim Hizmetleri A.S. (TKC) generated $2.2B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
Turkcell Iletisim Hizmetleri A.S. (TKC) had $11.7B in total assets as of fiscal year 2025, including both current and long-term assets.
Turkcell Iletisim Hizmetleri A.S. (TKC) invested $1.0B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Turkcell Iletisim Hizmetleri A.S. (TKC) invested $10.5M in research and development during fiscal year 2025.
Turkcell Iletisim Hizmetleri A.S. (TKC) had a current ratio of 1.70 as of fiscal year 2025, which is generally considered healthy.
Turkcell Iletisim Hizmetleri A.S. (TKC) had a debt-to-equity ratio of 0.47 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Turkcell Iletisim Hizmetleri A.S. (TKC) had a liabilities-to-equity ratio of 0.93 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
Turkcell Iletisim Hizmetleri A.S. (TKC) had a return on assets of 3.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Turkcell Iletisim Hizmetleri A.S. (TKC) trades at 10.1x earnings, its market capitalization divided by $409.7M net income, FY2025. The market capitalization is $4.1B as of Nov 4, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Turkcell Iletisim Hizmetleri A.S. (TKC) trades at 0.7x sales, its market capitalization divided by $5.6B revenue, FY2025. The market capitalization is $4.1B as of Nov 4, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Turkcell Iletisim Hizmetleri A.S. (TKC) has an Altman Z-Score of 1.87, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
Turkcell Iletisim Hizmetleri A.S. (TKC) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Turkcell Iletisim Hizmetleri A.S. (TKC) has an earnings quality ratio of 5.49x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Turkcell Iletisim Hizmetleri A.S. (TKC) has an interest coverage ratio of 1.74x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
Turkcell Iletisim Hizmetleri A.S. (TKC) scores 67 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.