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Logo Yazilim Sanayi ve Ticaret AS
Buy, Hold or Sell?

Let's analyse Logo together

PenkeI guess you are interested in Logo Yazilim Sanayi ve Ticaret AS. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of Logo Yazilim Sanayi ve Ticaret AS. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

You can find me behind Let's Analyse Together in the top-right of each section.

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Quick analysis of Logo (30 sec.)










What can you expect buying and holding a share of Logo? (30 sec.)

How much money do you get?

How much money do you get?
₺0.11
When do you have the money?
1 year
How often do you get paid?
40.0%

What is your share worth?

Current worth
₺23.86
Expected worth in 1 year
₺35.30
How sure are you?
100.0%

+ What do you gain per year?

Total Gains per Share
₺15.13
Return On Investment
16.5%

For what price can you sell your share?

Current Price per Share
₺91.45
Expected price per share
₺76.00 - ₺118.00
How sure are you?
50%

1. Valuation of Logo (5 min.)




Live pricePrice per Share (EOD)

₺91.45

Intrinsic Value Per Share

₺-309.34 - ₺-372.98

Total Value Per Share

₺-285.49 - ₺-349.12

2. Growth of Logo (5 min.)




Is Logo growing?

Current yearPrevious yearGrowGrow %
How rich?$71.6m$32.7m$19.3m37.2%

How much money is Logo making?

Current yearPrevious yearGrowGrow %
Making money$1m$3.2m-$2.1m-196.6%
Net Profit Margin14.1%29.0%--

How much money comes from the company's main activities?

3. Financial Health of Logo (5 min.)




What can you expect buying and holding a share of Logo? (5 min.)

Welcome investor! Logo's management wants to use your money to grow the business. In return you get a share of Logo.

What can you expect buying and holding a share of Logo?

First you should know what it really means to hold a share of Logo. And how you can make/lose money.

Speculation

The Price per Share of Logo is ₺91.45. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

  • The fundamentals: the financial health trends of Logo.
  • The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
  • The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Logo, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

  • You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is ₺23.86. Based on the TTM, the Book Value Change Per Share is ₺2.86 per quarter. Based on the YOY, the Book Value Change Per Share is ₺0.95 per quarter.
  • You may receive quarterly/yearly dividend in the form of additional shares.
  • You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is ₺0.92 per quarter.
Based on historical numbers we can estimate the returns while holding a share of Logo.

How much money are you going to get?

 MRQTTMYOY5Y10Y
 % of Price per Share% of Price per Share% of Price per Share% of Price per Share% of Price per Share
Usd Eps-0.10-0.1%0.030.0%0.030.0%0.020.0%0.010.0%
Usd Book Value Change Per Share0.220.2%0.090.1%0.030.0%0.030.0%0.020.0%
Usd Dividend Per Share0.020.0%0.030.0%0.040.0%0.020.0%0.010.0%
Usd Total Gains Per Share0.240.3%0.120.1%0.070.1%0.050.1%0.030.0%
Usd Price Per Share2.30-2.23-1.55-2.02-1.62-
Price to Earnings Ratio-5.66-5.42-13.65-34.87-190.86-
Price-to-Total Gains Ratio9.45-31.52-23.65-116.44-255.86-
Price to Book Ratio3.10-4.28-4.51-9.74-17.79-
Price-to-Total Gains Ratio9.45-31.52-23.65-116.44-255.86-

When do you get the money?

Usd Investment
$.00
Usd Price Per Share2.844095
Number of shares351
Gains per QuarterTrailing 12 Months5 Year
Usd Dividend Per Share0.030.02
Usd Book Value Change Per Share0.090.03
Usd Total Gains Per Share0.120.05
Gains per Quarter (351 shares)41.2817.48
Gains per Year (351 shares)165.1369.92
YearsReturn on Investment (TTM)Return on Investment (5Y)
 DividendBook Value gainTotal gainsDividendBook Value gainTotal gains
Broker costs---10---10
140125155254560
2812503205090130
312137548575135200
4161499650100180270
5201624815125224340
6242749980150269410
72828741145175314480
83229991310200359550
936311241475225404620
1040312491640250449690

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %
 Trailing 12 Months3Y5 Year10 YearALLTIME
  % % % % %
Earnings Per Share3.01.00.075.0%11.01.00.091.7%19.01.00.095.0%39.01.00.097.5%66.01.011.084.6%
Book Value Change Per Share4.00.00.0100.0%12.00.00.0100.0%20.00.00.0100.0%39.01.00.097.5%61.015.02.078.2%
Dividend per Share3.00.01.075.0%11.00.01.091.7%13.00.07.065.0%16.00.024.040.0%22.00.056.028.2%
Total Gains per Share4.00.00.0100.0%12.00.00.0100.0%20.00.00.0100.0%40.00.00.0100.0%63.013.02.080.8%

Fundamentals of Logo

About Logo Yazilim Sanayi ve Ticaret AS

Logo Yazilim Sanayi ve Ticaret A.S. develops and markets software solutions in Turkey and Romania. The company provides cloud solutions, which includes Logo j-Platform, Logo Tiger Wings Enterprise, Logo Tiger 3 Enterprise, Logo Tiger Wings, Logo Tiger 3, Logo Netsis Wings Enterprise, Logo Netsis 3 Enterprise, Logo Netsis Wings, Logo Netsis 3 Standard, and Logo cloud ERP; and business analytics solutions, such as Logo Mind Insight, Logo Mind Navigator, and Logo Mind Budget. It also offers offers e-Invoice, e-Archive, e-Ledger, e-Dispatch, e-Producer Receipt, e-Reconciliation, Connect Banka, Connect B2b, eLogo e-Collection, Online Account Statement application, cheque and invoice discount application, banking application in ERP, social security incentive, e-Commerce portal, pharmacy porta, private integrator portal, and supplier financing; SME solutions, such as Logo Isbasi, Logo Start 3, Logo GO Wings, Logo GO 3, Logo Netsis Wings Entegre, Logo Netsis 3 Entegre, and Logo Financial Advisor 3; Logo Financial Advisor 3, consisting of Logo WMS Platform and Logo WMS; and Logo Mobile Sales. In addition, the company provides human resources solutions, consisting of Logo j-HR, Logo Tiger HR, Logo Payroll Plus, Logo Netsis HR, Logo Netsis 3 Payroll, and Logo Cloud HR; retail solutions, including Logo Diva Retail, Logo Diva Service, Logo Diva Channel, and Logo Diva Shop; ecosystem solutions; CRM solutions, which includes Logo CRM; and project solutions that comprises of Logo Treasury Wizard and Logo B2B solution. Further, it offers workflow management solutions, such as Logo Flow; occupational health and safety, consisting of eLogo OHS; and digital transformation services, including digital transformation consultancy, project management, project implementation, custom software development, customization and integration, post-project support services, and system management, as well as support services. The company was founded in 1984 and is headquartered in Gebze, Turkey.

Fundamental data was last updated by Penke on 2024-05-17 19:09:05.

Financial Health

Profitability Details
 Compared to previous yearCompared to industry
The company is making a huge profit.
Using its assets, the company is less efficient in making profit.
Using its investors money, the company is inefficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating less efficient.
The company is inefficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is just not able to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.
Solvency Details
 Compared to previous yearCompared to industry
The company is able to pay all its debts by selling its assets.
The company is able to pay all its debts with equity.

Valuation

Valuation Details
 Compared to previous yearCompared to industry
Based on the equity, the company is fair priced.
Based on the earnings, the company is cheap.
Based on how much money comes from the company's main activities, the company is cheap.

1.1. Profitability of Logo Yazilim Sanayi ve Ticaret AS.

1.1. Profitability
1.1.1. Net Profit Margin

Measures how much net profit Logo earns for each ₤1 of revenue.

  • Above 10% is considered healthy but always compare Logo to the Software - Application industry mean.
  • A Net Profit Margin of -24.0% means that ₤-0.24 for each ₤1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Logo Yazilim Sanayi ve Ticaret AS:

  • The MRQ is -24.0%. The company is making a huge loss. -2
  • The TTM is 14.1%. The company is making a huge profit. +2
Trends
Current periodCompared to+/- 
MRQ-24.0%TTM14.1%-38.1%
TTM14.1%YOY29.0%-14.9%
TTM14.1%5Y24.1%-10.0%
5Y24.1%10Y25.2%-1.1%
1.1.2. Return on Assets

Shows how efficient Logo is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Logo to the Software - Application industry mean.
  • -5.9% Return on Assets means that Logo generated ₤-0.06 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Logo Yazilim Sanayi ve Ticaret AS:

  • The MRQ is -5.9%. Using its assets, the company is very inefficient in making profit. -2
  • The TTM is 1.9%. Using its assets, the company is less efficient in making profit.
Trends
Current periodCompared to+/- 
MRQ-5.9%TTM1.9%-7.8%
TTM1.9%YOY5.0%-3.1%
TTM1.9%5Y3.6%-1.7%
5Y3.6%10Y4.2%-0.6%
1.1.3. Return on Equity

Shows how efficient Logo is using its investors money to generate profit.

  • Above 15%-20% is considered healthy but always compare Logo to the Software - Application industry mean.
  • -15.0% Return on Equity means Logo generated ₤-0.15 for each ₤1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Logo Yazilim Sanayi ve Ticaret AS:

  • The MRQ is -15.0%. Using its investors money, the company is very inefficient in making profit. -2
  • The TTM is 4.8%. Using its investors money, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ-15.0%TTM4.8%-19.8%
TTM4.8%YOY11.1%-6.2%
TTM4.8%5Y7.7%-2.9%
5Y7.7%10Y7.9%-0.2%

1.2. Operating Efficiency of Logo Yazilim Sanayi ve Ticaret AS.

1.2. Operating Efficiency
1.2.1. Operating Margin

Measures how efficient Logo is operating .

  • Measures how much profit Logo makes for each ₤1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
  • Above 15% is considered healthy but always compare Logo to the Software - Application industry mean.
  • An Operating Margin of 0.0% means the company generated ₤0.00  for each ₤1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Logo Yazilim Sanayi ve Ticaret AS:

  • The MRQ is 0.0%. The data is not here.
Trends
Current periodCompared to+/- 
MRQ-TTM10.6%-10.6%
TTM10.6%YOY25.6%-14.9%
TTM10.6%5Y25.1%-14.5%
5Y25.1%10Y16.3%+8.8%
1.2.2. Operating Ratio

Measures how efficient Logo is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Software - Application industry mean).
  • An Operation Ratio of 1.18 means that the operating costs are ₤1.18 for each ₤1 in net sales.

Let's take a look of the Operating Ratio trends of Logo Yazilim Sanayi ve Ticaret AS:

  • The MRQ is 1.182. The company is inefficient in keeping operating costs low. -1
  • The TTM is 1.051. The company is inefficient in keeping operating costs low. -1
Trends
Current periodCompared to+/- 
MRQ1.182TTM1.051+0.131
TTM1.051YOY0.976+0.075
TTM1.0515Y0.975+0.076
5Y0.97510Y0.659+0.316

1.3. Liquidity of Logo Yazilim Sanayi ve Ticaret AS.

1.3. Liquidity
1.3.1. Current Ratio

Measures if Logo is able to pay off Short-term Debt.

  • Above 1.5 is considered healthy (always compare to Software - Application industry mean).
  • A Current Ratio of 0.66 means the company has ₤0.66 in assets for each ₤1 in short-term debts.

Let's take a look of the Current Ratio trends of Logo Yazilim Sanayi ve Ticaret AS:

  • The MRQ is 0.664. The company is unable to pay all its short-term debts. -2
  • The TTM is 0.767. The company is just not able to pay all its short-term debts. -1
Trends
Current periodCompared to+/- 
MRQ0.664TTM0.767-0.103
TTM0.767YOY1.010-0.244
TTM0.7675Y1.299-0.533
5Y1.29910Y0.945+0.354
1.3.2. Quick Ratio

Measures if Logo is able to pay off Short-term Debt but only using the most liquid assets.

  • Above 1 is considered healthy but always compare Logo to the Software - Application industry mean.
  • A Quick Ratio of 0.42 means the company can pay off ₤0.42 for each ₤1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Logo Yazilim Sanayi ve Ticaret AS:

  • The MRQ is 0.425. The company is just not able to pay all its short-term debts with the most liquid assets. -1
  • The TTM is 0.520. The company is just not able to pay all its short-term debts with the most liquid assets. -1
Trends
Current periodCompared to+/- 
MRQ0.425TTM0.520-0.095
TTM0.520YOY0.606-0.086
TTM0.5205Y0.681-0.162
5Y0.68110Y0.823-0.141

1.4. Solvency of Logo Yazilim Sanayi ve Ticaret AS.

1.3. Liquidity
1.4.1. Debt to Asset Ratio

Measures how much % of Logo assets are financed with debt.

  • Below 1 (100%) is considered healthy but always compare Logo to Software - Application industry mean.
  • A Debt to Asset Ratio of 0.57 means that Logo assets are financed with 56.9% credit (debt) and the remaining percentage (100% - 56.9%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of Logo Yazilim Sanayi ve Ticaret AS:

  • The MRQ is 0.569. The company is able to pay all its debts by selling its assets. +1
  • The TTM is 0.554. The company is able to pay all its debts by selling its assets. +1
Trends
Current periodCompared to+/- 
MRQ0.569TTM0.554+0.015
TTM0.554YOY0.507+0.046
TTM0.5545Y0.491+0.063
5Y0.49110Y0.454+0.037
1.4.2. Debt to Equity Ratio

Measures if Logo is able to pay off its debts by using shareholders equity.

  • Below 2 is considered healthy but always compare Logo to the Software - Application industry mean.
  • A Debt to Equity ratio of 144.1% means that company has ₤1.44 debt for each ₤1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Logo Yazilim Sanayi ve Ticaret AS:

  • The MRQ is 1.441. The company is able to pay all its debts with equity. +1
  • The TTM is 1.389. The company is able to pay all its debts with equity. +1
Trends
Current periodCompared to+/- 
MRQ1.441TTM1.389+0.052
TTM1.389YOY1.135+0.254
TTM1.3895Y1.069+0.320
5Y1.06910Y0.906+0.162

2. Market Valuation of Logo Yazilim Sanayi ve Ticaret AS

2.1. Earnings Per Share
2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every ₤1 in earnings Logo generates.

  • Above 15 is considered overpriced but always compare Logo to the Software - Application industry mean.
  • A PE ratio of -5.66 means the investor is paying ₤-5.66 for every ₤1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Logo Yazilim Sanayi ve Ticaret AS:

  • The EOD is -6.994. Based on the earnings, the company is expensive. -2
  • The MRQ is -5.655. Based on the earnings, the company is expensive. -2
  • The TTM is 5.419. Based on the earnings, the company is cheap. +2
Trends
Current periodCompared to+/- 
EOD-6.994MRQ-5.655-1.338
MRQ-5.655TTM5.419-11.075
TTM5.419YOY13.646-8.227
TTM5.4195Y34.865-29.446
5Y34.86510Y190.860-155.995
2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Logo Yazilim Sanayi ve Ticaret AS:

  • The EOD is -3.522. Based on how much money comes from the company's main activities, the company is expensive. -2
  • The MRQ is -2.848. Based on how much money comes from the company's main activities, the company is expensive. -2
  • The TTM is 8.149. Based on how much money comes from the company's main activities, the company is cheap. +2
Trends
Current periodCompared to+/- 
EOD-3.522MRQ-2.848-0.674
MRQ-2.848TTM8.149-10.997
TTM8.149YOY14.750-6.601
TTM8.1495Y24.728-16.579
5Y24.72810Y12.364+12.364
2. Book Value per Share
2.3. Price to Book Ratio

Measures if the stock price of Logo is to cheap or to expensive compared to its book value.

  • At or below 1 is considered healthy (always compare to Software - Application industry mean).
  • A PB ratio of 3.10 means the investor is paying ₤3.10 for each ₤1 in book value.

Let's take a look of the Price to Book Ratio trends of Logo Yazilim Sanayi ve Ticaret AS:

  • The EOD is 3.833. Based on the equity, the company is fair priced.
  • The MRQ is 3.100. Based on the equity, the company is fair priced.
  • The TTM is 4.276. Based on the equity, the company is fair priced.
Trends
Current periodCompared to+/- 
EOD3.833MRQ3.100+0.734
MRQ3.100TTM4.276-1.176
TTM4.276YOY4.515-0.239
TTM4.2765Y9.740-5.464
5Y9.74010Y17.791-8.051
2. Total Gains per Share

3. Summary

3.1. Key Performance Indicators

The key performance indicators of Logo Yazilim Sanayi ve Ticaret AS compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-5 Year+/-10 Year+/-
Book Value Change Per Share--7.1322.859+149%0.946+654%1.028+594%0.581+1127%
Book Value Per Share--23.85817.371+37%10.913+119%8.846+170%5.240+355%
Current Ratio--0.6640.767-13%1.010-34%1.299-49%0.945-30%
Debt To Asset Ratio--0.5690.554+3%0.507+12%0.491+16%0.454+25%
Debt To Equity Ratio--1.4411.389+4%1.135+27%1.069+35%0.906+59%
Dividend Per Share--0.6950.923-25%1.198-42%0.573+21%0.298+133%
Eps---3.2690.897-464%1.077-404%0.636-614%0.378-965%
Free Cash Flow Per Share---6.491-1.417-78%1.236-625%0.196-3405%0.196-3405%
Free Cash Flow To Equity Per Share---6.491-2.584-60%0.661-1082%-0.278-96%-0.278-96%
Gross Profit Margin--1.0001.0000%1.0000%1.0000%1.0000%
Intrinsic Value_10Y_max---372.981--------
Intrinsic Value_10Y_min---309.343--------
Intrinsic Value_1Y_max---4.936--------
Intrinsic Value_1Y_min---4.829--------
Intrinsic Value_3Y_max---39.553--------
Intrinsic Value_3Y_min---37.261--------
Intrinsic Value_5Y_max---103.976--------
Intrinsic Value_5Y_min---94.380--------
Market Cap8826689619.200+19%7137602826.6006910782452.800+3%4797250905.870+49%6272451570.586+14%5028197025.485+42%
Net Profit Margin---0.2400.141-271%0.290-183%0.241-200%0.252-195%
Operating Margin---0.106-100%0.256-100%0.251-100%0.163-100%
Operating Ratio--1.1821.051+12%0.976+21%0.975+21%0.659+79%
Pb Ratio3.833+19%3.1004.276-28%4.515-31%9.740-68%17.791-83%
Pe Ratio-6.994-24%-5.6555.419-204%13.646-141%34.865-116%190.860-103%
Price Per Share91.450+19%73.95071.600+3%49.703+49%64.987+14%52.095+42%
Price To Free Cash Flow Ratio-3.522-24%-2.8488.149-135%14.750-119%24.728-112%12.364-123%
Price To Total Gains Ratio11.684+19%9.44831.516-70%23.650-60%116.439-92%255.861-96%
Quick Ratio--0.4250.520-18%0.606-30%0.681-38%0.823-48%
Return On Assets---0.0590.019-412%0.050-217%0.036-263%0.042-240%
Return On Equity---0.1500.048-409%0.111-235%0.077-293%0.079-289%
Total Gains Per Share--7.8273.782+107%2.144+265%1.601+389%0.879+790%
Usd Book Value--71615369.50052143550.650+37%32758853.319+119%26553990.648+170%15728575.448+355%
Usd Book Value Change Per Share--0.2220.089+149%0.029+654%0.032+594%0.018+1127%
Usd Book Value Per Share--0.7420.540+37%0.339+119%0.275+170%0.163+355%
Usd Dividend Per Share--0.0220.029-25%0.037-42%0.018+21%0.009+133%
Usd Eps---0.1020.028-464%0.033-404%0.020-614%0.012-965%
Usd Free Cash Flow---19485829.400-4254892.075-78%3710805.350-625%471633.371-4232%235816.685-8363%
Usd Free Cash Flow Per Share---0.202-0.044-78%0.038-625%0.006-3405%0.006-3405%
Usd Free Cash Flow To Equity Per Share---0.202-0.080-60%0.021-1082%-0.009-96%-0.009-96%
Usd Market Cap274510047.157+19%221979447.907214925334.282+3%149194503.173+49%195073243.845+14%156376927.493+42%
Usd Price Per Share2.844+19%2.3002.227+3%1.546+49%2.021+14%1.620+42%
Usd Profit---9812889.7001089712.900-1001%3231849.800-404%1588147.506-718%973646.646-1108%
Usd Revenue--40871433.40023133175.200+77%11984975.900+241%9719880.438+320%5643178.734+624%
Usd Total Gains Per Share--0.2430.118+107%0.067+265%0.050+389%0.027+790%
 EOD+6 -2MRQTTM+14 -21YOY+14 -215Y+16 -1910Y+16 -19

3.2. Fundamental Score

Let's check the fundamental score of Logo Yazilim Sanayi ve Ticaret AS based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-15-6.994
Price to Book Ratio (EOD)Between0-13.833
Net Profit Margin (MRQ)Greater than0-0.240
Operating Margin (MRQ)Greater than00.000
Quick Ratio (MRQ)Greater than10.425
Current Ratio (MRQ)Greater than10.664
Debt to Asset Ratio (MRQ)Less than10.569
Debt to Equity Ratio (MRQ)Less than11.441
Return on Equity (MRQ)Greater than0.15-0.150
Return on Assets (MRQ)Greater than0.05-0.059
Total1/10 (10.0%)

3.3. Technical Score

Let's check the technical score of Logo Yazilim Sanayi ve Ticaret AS based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5052.481
Ma 20Greater thanMa 5090.555
Ma 50Greater thanMa 10087.137
Ma 100Greater thanMa 20089.268
OpenGreater thanClose90.800
Total3/5 (60.0%)



Reversals in quarterly reports

I have detected a reversal (positive to negative, negative to positive) in the following values of the quarterly reports.

 2022-12-312023-03-312023-06-302023-09-302023-12-31
Income before Tax  51,64281,910133,552172,428305,980-171,154134,826-521,617-386,791
Net Income  62,833-87061,963206,123268,086-142,452125,634-441,161-315,527
Operating Income  74,26231,017105,2799,399114,6782,360117,038-158,164-41,126
Net Income from Continuing Operations  66,860-5,69861,162204,027265,189-139,506125,683-447,664-321,981



Latest Balance Sheet

Balance Sheet of 2023-12-31. Currency in TRY. All numbers in thousands.

Summary
Total Assets5,343,020
Total Liabilities3,040,275
Total Stockholder Equity2,110,141
 As reported
Total Liabilities 3,040,275
Total Stockholder Equity+ 2,110,141
Total Assets = 5,343,020

Assets

Total Assets5,343,020
Total Current Assets1,715,043
Long-term Assets3,627,977
Total Current Assets
Cash And Cash Equivalents 488,129
Short-term Investments 281,969
Net Receivables 815,652
Inventory 36,298
Other Current Assets 20,469
Total Current Assets  (as reported)1,715,043
Total Current Assets  (calculated)1,642,517
+/- 72,526
Long-term Assets
Property Plant Equipment 308,576
Goodwill 764,294
Intangible Assets 1,690,179
Long-term Assets Other 2,055
Long-term Assets  (as reported)3,627,977
Long-term Assets  (calculated)2,765,104
+/- 862,873

Liabilities & Shareholders' Equity

Total Current Liabilities2,584,822
Long-term Liabilities455,453
Total Stockholder Equity2,110,141
Total Current Liabilities
Short Long Term Debt 89,063
Accounts payable 281,190
Other Current Liabilities 22,152
Total Current Liabilities  (as reported)2,584,822
Total Current Liabilities  (calculated)392,405
+/- 2,192,417
Long-term Liabilities
Long term Debt 224,782
Capital Lease Obligations Min Short Term Debt35,649
Long-term Liabilities  (as reported)455,453
Long-term Liabilities  (calculated)260,431
+/- 195,022
Total Stockholder Equity
Retained Earnings 947,249
Total Stockholder Equity (as reported)2,110,141
Total Stockholder Equity (calculated)947,249
+/- 1,162,892
Other
Capital Stock100,000
Common Stock Shares Outstanding 96,519
Net Invested Capital 2,423,986
Net Working Capital -869,779
Property Plant and Equipment Gross 687,362



Balance Sheet

Currency in TRY. All numbers in thousands.

 Trend2023-12-312023-09-302023-06-302023-03-312022-12-312022-09-302022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312020-09-302020-06-302020-03-312019-12-312019-09-302019-06-302019-03-312018-12-312018-09-302018-06-302018-03-312017-12-312017-09-302017-06-302017-03-312016-12-312016-09-302016-06-302016-03-312015-12-312015-09-302015-06-302015-03-312014-12-312014-09-302014-06-302014-03-312013-12-312013-09-302013-06-302013-03-312012-12-312012-09-302012-06-302012-03-312011-12-312011-09-302011-06-302011-03-312010-12-312010-09-302010-06-302010-03-312009-12-312009-09-302009-03-312008-12-312008-09-302008-06-302008-03-312007-12-312007-09-302007-06-302007-03-312006-12-312006-06-302006-03-312005-12-312005-09-302005-06-302005-03-312004-12-312004-09-302004-06-302004-03-312003-12-312003-09-302003-06-302003-03-312002-12-312002-09-302002-06-30
> Total Assets 
12,795,875,000
0
16,713,546,000
16,609,909,000
21,617,052,000
21,538,723,000
25,643,138,000
25,459
29,473
27,040,031,000
41,293,404,000
40,744
39,948
42,705
39,457
38,771
42,713
36,088
0
39,452
37,923
43,155
44,430
45,995
43,244
42,045
0
36,209
39,517
35,640
35,482
33,789
37,289
37,223
34,697
34,256
49,738
53,483
53,096
53,462
62,906
64,676
63,299
98,617
124,742
131,952
134,485
131,605
166,143
143,242
143,005
155,628
202,346
195,651
206,827
282,028
327,537
333,274
340,856
337,216
383,166
391,152
420,537
485,578
563,158
584,988
629,777
612,774
775,732
786,939
843,966
952,856
1,097,520
1,133,023
1,214,471
1,250,809
1,807,472
1,836,820
1,977,222
2,128,604
2,666,858
2,721,018
3,485,477
3,581,657
5,343,020
5,343,0203,581,6573,485,4772,721,0182,666,8582,128,6041,977,2221,836,8201,807,4721,250,8091,214,4711,133,0231,097,520952,856843,966786,939775,732612,774629,777584,988563,158485,578420,537391,152383,166337,216340,856333,274327,537282,028206,827195,651202,346155,628143,005143,242166,143131,605134,485131,952124,74298,61763,29964,67662,90653,46253,09653,48349,73834,25634,69737,22337,28933,78935,48235,64039,51736,209042,04543,24445,99544,43043,15537,92339,452036,08842,71338,77139,45742,70539,94840,74441,293,404,00027,040,031,00029,47325,45925,643,138,00021,538,723,00021,617,052,00016,609,909,00016,713,546,000012,795,875,000
   > Total Current Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
144,684
130,508
162,177
157,884
168,449
182,726
227,507
225,397
253,617
244,717
375,900
362,974
380,783
434,264
543,820
540,244
585,357
577,487
796,274
731,440
744,790
745,207
1,084,727
1,044,193
1,258,786
1,099,263
1,715,043
1,715,0431,099,2631,258,7861,044,1931,084,727745,207744,790731,440796,274577,487585,357540,244543,820434,264380,783362,974375,900244,717253,617225,397227,507182,726168,449157,884162,177130,508144,6840000000000000000000000000000000000000000000000000000000000
       Cash And Cash Equivalents 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
53,527
49,939
51,634
53,388
56,491
70,616
78,417
82,013
109,942
110,659
152,184
171,266
191,522
252,949
261,596
298,245
338,255
316,444
259,390
313,850
236,521
263,122
229,151
250,853
134,486
389,099
488,129
488,129389,099134,486250,853229,151263,122236,521313,850259,390316,444338,255298,245261,596252,949191,522171,266152,184110,659109,94282,01378,41770,61656,49153,38851,63449,93953,5270000000000000000000000000000000000000000000000000000000000
       Short-term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,502
5,001
0
0
0
0
0
0
32,082
20,854
0
19,296
173,933
175,576
122,508
123,821
411,131
404,211
552,010
168,754
281,969
281,969168,754552,010404,211411,131123,821122,508175,576173,93319,296020,85432,0820000005,0012,5020000000000000000000000000000000000000000000000000000000000000000
       Net Receivables 
959,324,000
0
2,982,491,000
1,455,262,000
1,874,380,000
2,005,380,000
4,610,294,000
2,059
3,369
2,238,060,000
9,605,143,000
3,114
1,440
5,986
9,183
7,600
10,732
5,916
0
8,048
7,421
13,199
13,078
15,174
12,693
10,397
0
4,221
6,085
3,152
3,957
4,575
6,616
7,711
5,670
5,882
12,741
12,967
13,329
12,498
20,390
21,799
20,942
35,046
52,832
47,576
43,148
36,434
53,675
45,139
40,246
46,658
71,968
47,080
41,059
59,641
92,907
80,373
81,596
74,413
104,836
96,947
102,458
103,410
139,463
123,367
129,211
121,917
212,244
177,110
175,869
166,831
236,336
203,090
225,786
222,571
333,670
190,226
327,254
310,482
387,617
292,663
487,372
449,780
815,652
815,652449,780487,372292,663387,617310,482327,254190,226333,670222,571225,786203,090236,336166,831175,869177,110212,244121,917129,211123,367139,463103,410102,45896,947104,83674,41381,59680,37392,90759,64141,05947,08071,96846,65840,24645,13953,67536,43443,14847,57652,83235,04620,94221,79920,39012,49813,32912,96712,7415,8825,6707,7116,6164,5753,9573,1526,0854,221010,39712,69315,17413,07813,1997,4218,04805,91610,7327,6009,1835,9861,4403,1149,605,143,0002,238,060,0003,3692,0594,610,294,0002,005,380,0001,874,380,0001,455,262,0002,982,491,0000959,324,000
       Inventory 
70,970,000
0
74,692,000
82,905,000
93,190,000
110,792,000
94,886,000
97
135
115,192,000
155,800,000
66
29
30
40
39
31
38
0
285
119
154
148
176
166
157
0
151
150
149
145
144
148
142
138
141
138
139
141
140
145
140
138
413
422
411
680
684
517
368
603
485
311
363
269
311
322
633
493
455
604
650
560
400
788
649
476
533
538
558
690
795
2,847
720
3,302
2,906
5,929
5,459
5,576
5,038
8,350
9,218
10,435
13,306
36,298
36,29813,30610,4359,2188,3505,0385,5765,4595,9292,9063,3027202,8477956905585385334766497884005606506044554936333223112693633114856033685176846804114224131381401451401411391381411381421481441451491501510157166176148154119285038313940302966155,800,000115,192,0001359794,886,000110,792,00093,190,00082,905,00074,692,000070,970,000
   > Long-term Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
359,591
376,159
368,057
399,832
423,965
463,183
518,593
553,700
592,779
629,114
673,322
1,011,198
1,105,380
1,232,432
1,383,397
1,582,131
1,676,825
2,226,691
2,482,394
3,627,977
3,627,9772,482,3942,226,6911,676,8251,582,1311,383,3971,232,4321,105,3801,011,198673,322629,114592,779553,700518,593463,183423,965399,832368,057376,159359,59100000000000000000000000000000000000000000000000000000000000000000
       Property Plant Equipment 
988,925,000
0
1,116,278,000
1,081,439,000
1,898,802,000
2,190,033,000
2,137,234,000
2,360
2,545
2,275,214,000
2,296,536,000
2,204
2,200
15,057
15,014
14,982
14,962
14,797
0
14,301
14,223
14,192
14,083
13,929
13,773
13,632
0
13,203
12,892
12,753
12,743
12,749
12,703
12,724
12,677
12,775
13,187
13,511
13,424
13,563
13,540
13,728
13,479
13,809
13,630
13,860
13,902
14,567
15,074
15,017
15,339
15,270
15,489
15,807
16,020
17,666
18,978
19,574
19,461
20,257
19,942
18,960
19,185
21,263
20,708
36,118
34,035
31,752
34,441
34,670
31,663
30,336
37,057
38,785
37,129
35,664
38,663
40,759
39,131
38,648
66,758
95,818
115,848
122,033
308,576
308,576122,033115,84895,81866,75838,64839,13140,75938,66335,66437,12938,78537,05730,33631,66334,67034,44131,75234,03536,11820,70821,26319,18518,96019,94220,25719,46119,57418,97817,66616,02015,80715,48915,27015,33915,01715,07414,56713,90213,86013,63013,80913,47913,72813,54013,56313,42413,51113,18712,77512,67712,72412,70312,74912,74312,75312,89213,203013,63213,77313,92914,08314,19214,22314,301014,79714,96214,98215,01415,0572,2002,2042,296,536,0002,275,214,0002,5452,3602,137,234,0002,190,033,0001,898,802,0001,081,439,0001,116,278,0000988,925,000
       Goodwill 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,108
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,892
5,892
5,892
5,892
5,892
5,892
5,892
5,892
5,892
7,479
7,479
7,479
65,591
75,387
78,878
80,479
83,168
83,295
89,231
96,602
124,057
136,752
139,936
145,639
137,456
146,362
156,553
180,835
209,839
202,740
217,360
229,289
227,256
327,276
352,501
375,326
391,187
436,915
456,183
611,663
628,041
764,294
764,294628,041611,663456,183436,915391,187375,326352,501327,276227,256229,289217,360202,740209,839180,835156,553146,362137,456145,639139,936136,752124,05796,60289,23183,29583,16880,47978,87875,38765,5917,4797,4797,4795,8925,8925,8925,8925,8925,8925,8925,8925,8920000000000000002,108000000000000000000000000000
       Long Term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
702
620
1,689
4,711
3,760
7,032
7,323
8,134
9,869
12,144
12,731
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
000000000000000012,73112,1449,8698,1347,3237,0323,7604,7111,6896207020000000000000000000000000000000000000000000000000000000000
       Intangible Assets 
4,891,641,000
0
7,550,334,000
7,118,732,000
11,421,641,000
13,171,077,000
13,422,318,000
12,173
15,334
14,129,462,000
14,969,206,000
15,465
16,324
3,349
3,996
4,151
4,881
7,453
0
9,974
10,871
11,815
12,596
13,367
14,007
13,897
0
14,726
12,243
11,630
11,002
10,442
10,043
9,537
8,915
8,273
13,706
16,551
16,357
16,157
15,833
15,720
15,812
33,605
36,455
40,576
41,531
42,389
43,621
48,098
51,555
56,986
58,759
60,757
62,588
148,870
161,723
167,602
171,007
179,832
191,897
203,021
122,658
140,131
164,344
172,407
183,002
183,046
195,816
209,336
225,467
251,181
267,498
289,454
311,378
321,586
431,952
484,010
534,790
584,680
665,896
763,396
981,030
1,072,936
1,690,179
1,690,1791,072,936981,030763,396665,896584,680534,790484,010431,952321,586311,378289,454267,498251,181225,467209,336195,816183,046183,002172,407164,344140,131122,658203,021191,897179,832171,007167,602161,723148,87062,58860,75758,75956,98651,55548,09843,62142,38941,53140,57636,45533,60515,81215,72015,83316,15716,35716,55113,7068,2738,9159,53710,04310,44211,00211,63012,24314,726013,89714,00713,36712,59611,81510,8719,97407,4534,8814,1513,9963,34916,32415,46514,969,206,00014,129,462,00015,33412,17313,422,318,00013,171,077,00011,421,641,0007,118,732,0007,550,334,00004,891,641,000
       Long-term Assets Other 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
343
387
585
820
1,732
592
536
931
367
392
175
308
615
799
976
1,023
1,842
2,347
2,350
2,055
2,0552,3502,3471,8421,0239767996153081753923679315365921,73282058538734300000000000000000000000000000000000000000000000000000000000000000
> Total Liabilities 
2,085,383,000
0
2,748,221,000
1,910,658,000
2,119,140,000
2,392,903,000
2,878,113,000
2,382
2,963
2,776,168,000
5,163,472,000
3,627
3,850
9,149
6,156
5,058
6,436
5,917
0
5,329
4,820
5,758
6,677
7,389
6,546
5,839
0
3,596
7,720
5,399
4,951
4,162
5,914
5,173
5,962
5,188
15,514
15,305
14,862
14,098
20,440
18,312
18,603
52,180
65,617
64,449
59,193
51,274
78,568
49,068
53,384
46,124
92,046
69,466
65,434
125,464
163,379
166,806
160,624
139,821
173,890
159,298
165,460
193,895
244,585
254,510
272,380
244,657
381,131
370,985
389,085
436,504
559,770
528,734
560,976
561,030
973,966
902,412
992,459
1,033,242
1,468,033
1,437,320
1,979,739
1,967,272
3,040,275
3,040,2751,967,2721,979,7391,437,3201,468,0331,033,242992,459902,412973,966561,030560,976528,734559,770436,504389,085370,985381,131244,657272,380254,510244,585193,895165,460159,298173,890139,821160,624166,806163,379125,46465,43469,46692,04646,12453,38449,06878,56851,27459,19364,44965,61752,18018,60318,31220,44014,09814,86215,30515,5145,1885,9625,1735,9144,1624,9515,3997,7203,59605,8396,5467,3896,6775,7584,8205,32905,9176,4365,0586,1569,1493,8503,6275,163,472,0002,776,168,0002,9632,3822,878,113,0002,392,903,0002,119,140,0001,910,658,0002,748,221,00002,085,383,000
   > Total Current Liabilities 
1,243,218,000
0
1,716,020,000
796,085,000
960,240,000
1,131,817,000
1,573,112,000
991
1,461
1,266,179,000
3,626,812,000
1,977
2,128
8,634
5,610
4,476
5,822
5,171
0
4,663
4,087
5,078
5,863
6,496
5,676
4,451
0
2,196
6,603
4,396
3,966
3,194
4,770
4,230
4,776
4,077
8,745
8,720
9,842
8,973
14,911
12,997
12,053
45,367
39,164
37,747
35,269
29,604
58,631
40,790
44,538
36,622
83,490
61,236
57,286
110,110
148,824
103,476
98,551
82,898
115,035
99,866
83,411
89,428
131,939
124,161
139,795
119,729
242,047
239,351
243,962
268,545
406,375
353,921
386,779
383,606
742,157
645,472
727,148
768,678
1,185,507
1,128,686
1,612,114
1,578,162
2,584,822
2,584,8221,578,1621,612,1141,128,6861,185,507768,678727,148645,472742,157383,606386,779353,921406,375268,545243,962239,351242,047119,729139,795124,161131,93989,42883,41199,866115,03582,89898,551103,476148,824110,11057,28661,23683,49036,62244,53840,79058,63129,60435,26937,74739,16445,36712,05312,99714,9118,9739,8428,7208,7454,0774,7764,2304,7703,1943,9664,3966,6032,19604,4515,6766,4965,8635,0784,0874,66305,1715,8224,4765,6108,6342,1281,9773,626,812,0001,266,179,0001,4619911,573,112,0001,131,817,000960,240,000796,085,0001,716,020,00001,243,218,000
       Short-term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
76,725
15,843
16,973
18,245
74,795
866
0
7,761
22,607
12,690
24,055
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
000000000000000024,05512,69022,6077,761086674,79518,24516,97315,84376,7250000000000000000000000000000000000000000000000000000000000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
76,725
15,843
16,973
18,245
74,795
866
0
7,761
22,607
12,690
24,055
31,701
21,569
26,381
20,074
34,751
44,244
52,428
85,936
74,625
86,502
59,539
51,922
58,542
120,014
87,603
89,063
89,06387,603120,01458,54251,92259,53986,50274,62585,93652,42844,24434,75120,07426,38121,56931,70124,05512,69022,6077,761086674,79518,24516,97315,84376,7250000000000000000000000000000000000000000000000000000000000
       Accounts payable 
189,634,000
0
277,137,000
170,949,000
297,355,000
398,051,000
370,204,000
247
315
404,405,000
568,621,000
295
166
860
1,461
738
813
1,187
0
1,094
1,141
1,214
1,303
1,830
2,181
2,140
0
301
515
743
679
622
495
1,010
973
847
1,468
1,516
986
1,422
2,050
1,628
2,743
9,512
10,489
4,371
4,008
3,659
6,167
5,896
4,846
3,736
10,759
6,415
5,674
8,118
16,494
11,474
12,937
9,623
20,199
11,323
14,671
15,433
25,500
25,640
23,244
22,007
46,714
27,473
30,743
33,094
65,972
45,985
40,548
36,675
79,780
66,403
69,449
94,967
143,813
119,885
145,340
125,187
281,190
281,190125,187145,340119,885143,81394,96769,44966,40379,78036,67540,54845,98565,97233,09430,74327,47346,71422,00723,24425,64025,50015,43314,67111,32320,1999,62312,93711,47416,4948,1185,6746,41510,7593,7364,8465,8966,1673,6594,0084,37110,4899,5122,7431,6282,0501,4229861,5161,4688479731,01049562267974351530102,1402,1811,8301,3031,2141,1411,09401,1878137381,461860166295568,621,000404,405,000315247370,204,000398,051,000297,355,000170,949,000277,137,0000189,634,000
       Other Current Liabilities 
1,053,584,000
0
1,354,278,000
544,827,000
569,715,000
635,415,000
1,089,566,000
612
809
728,211,000
2,908,916,000
1,497
1,776
7,579
3,943
3,528
4,777
3,973
0
3,562
2,942
3,571
4,290
4,106
3,343
2,278
0
1,706
5,928
3,460
2,821
2,380
4,039
2,949
3,547
2,953
6,845
6,964
8,068
6,926
11,085
9,945
7,695
13,445
27,012
24,973
24,343
19,151
45,333
32,702
32,921
30,052
70,646
52,463
49,824
45,809
69,234
62,292
57,916
49,736
75,551
65,457
46,691
46,445
65,053
763
626
302
105,156
135,186
146,443
158,336
212,704
216,114
234,536
242,585
448,399
422,338
442,687
474,961
691,182
765,726
1,000,609
14,328
22,152
22,15214,3281,000,609765,726691,182474,961442,687422,338448,399242,585234,536216,114212,704158,336146,443135,186105,15630262676365,05346,44546,69165,45775,55149,73657,91662,29269,23445,80949,82452,46370,64630,05232,92132,70245,33319,15124,34324,97327,01213,4457,6959,94511,0856,9268,0686,9646,8452,9533,5472,9494,0392,3802,8213,4605,9281,70602,2783,3434,1064,2903,5712,9423,56203,9734,7773,5283,9437,5791,7761,4972,908,916,000728,211,0008096121,089,566,000635,415,000569,715,000544,827,0001,354,278,00001,053,584,000
   > Long-term Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
130,349
132,584
124,929
139,084
131,635
145,123
167,959
153,395
174,813
174,197
177,423
231,809
256,940
265,311
264,564
282,526
308,634
367,625
389,110
455,453
455,453389,110367,625308,634282,526264,564265,311256,940231,809177,423174,197174,813153,395167,959145,123131,635139,084124,929132,584130,34900000000000000000000000000000000000000000000000000000000000000000
       Capital Lease Obligations Min Short Term Debt
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-76,725
-15,843
-16,973
-18,245
-74,795
-866
0
9,940
-6,340
1,499
-7,554
16,504
13,686
11,980
19,813
22,039
21,238
18,975
20,580
22,774
15,594
20,223
25,930
28,857
37,279
36,105
35,649
35,64936,10537,27928,85725,93020,22315,59422,77420,58018,97521,23822,03919,81311,98013,68616,504-7,5541,499-6,3409,9400-866-74,795-18,245-16,973-15,843-76,7250000000000000000000000000000000000000000000000000000000000
       Long-term Liabilities Other 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
6,852
6,852
6,852
18,773
0
0
0
0
615
615
4,596
0
615
615
615
615
615
615
616
0
061661561561561561561504,596615615000018,7736,8526,8526,85200000000000000000000000000000000000000000000000000000000000000000
> Total Stockholder Equity
10,710,492,000
10,710,492,000
13,965,325,000
14,699,251,000
19,497,912,000
19,145,820,000
22,765,025,000
23,077
26,510
24,263,863,000
36,129,932,000
37,117
36,097
33,556
33,301
33,712
36,278
30,171
30,171
34,122
33,103
37,396
37,753
38,606
36,698
36,205
36,205
32,613
31,797
30,241
30,531
29,627
31,376
32,050
28,734
29,068
34,224
36,844
36,770
37,829
40,855
44,772
43,033
44,746
59,126
65,107
75,292
80,330
86,143
92,794
88,266
107,824
108,545
124,168
138,962
153,615
160,803
165,651
179,776
196,196
208,508
231,854
255,077
291,683
295,222
305,880
331,748
344,888
368,963
387,694
424,096
480,141
502,281
567,929
615,961
652,994
759,243
853,868
896,772
1,002,168
1,090,109
1,145,020
1,329,968
1,434,539
2,110,141
2,110,1411,434,5391,329,9681,145,0201,090,1091,002,168896,772853,868759,243652,994615,961567,929502,281480,141424,096387,694368,963344,888331,748305,880295,222291,683255,077231,854208,508196,196179,776165,651160,803153,615138,962124,168108,545107,82488,26692,79486,14380,33075,29265,10759,12644,74643,03344,77240,85537,82936,77036,84434,22429,06828,73432,05031,37629,62730,53130,24131,79732,61336,20536,20536,69838,60637,75337,39633,10334,12230,17130,17136,27833,71233,30133,55636,09737,11736,129,932,00024,263,863,00026,51023,07722,765,025,00019,145,820,00019,497,912,00014,699,251,00013,965,325,00010,710,492,00010,710,492,000
   Common Stock
805,000,000
0
805,000,000
805,000,000
4,091,025,000
14,451,619,000
4,830,000,000
4,830
4,830
4,830,000,000
4,830,000,000
4,830
4,830
4,830
4,830
14,490
14,490
15,939
0
15,939
15,939
15,939
15,939
15,939
15,939
25,000
0
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
0
100,000
0
0
00100,0000100,000100,000100,000100,000100,000100,000100,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,00025,000025,00015,93915,93915,93915,93915,93915,939015,93914,49014,4904,8304,8304,8304,8304,830,000,0004,830,000,0004,8304,8304,830,000,00014,451,619,0004,091,025,000805,000,000805,000,0000805,000,000
   Retained Earnings 
4,506,913,000
0
6,293,916,000
6,230,215,000
4,947,896,000
4,694,201,000
0
0
0
0
8,684,124,000
9,344
7,755
5,160
4,905
5,316
7,881
325
0
4,277
3,257
7,551
18,572
19,658
17,969
8,248
0
4,653
3,806
2,249
2,539
1,636
3,384
4,058
743
1,077
6,233
8,853
8,778
10,160
13,314
17,231
20,621
24,319
34,222
40,306
50,693
55,993
61,622
68,710
64,917
84,844
86,868
102,250
117,522
131,841
132,208
134,678
147,818
157,753
170,448
189,020
206,130
218,239
235,645
243,255
265,220
285,446
321,956
342,679
383,625
404,897
436,484
491,212
459,950
508,487
604,789
681,834
741,934
855,357
918,190
950,771
1,064,652
1,130,149
947,249
947,2491,130,1491,064,652950,771918,190855,357741,934681,834604,789508,487459,950491,212436,484404,897383,625342,679321,956285,446265,220243,255235,645218,239206,130189,020170,448157,753147,818134,678132,208131,841117,522102,25086,86884,84464,91768,71061,62255,99350,69340,30634,22224,31920,62117,23113,31410,1608,7788,8536,2331,0777434,0583,3841,6362,5392,2493,8064,65308,24817,96919,65818,5727,5513,2574,27703257,8815,3164,9055,1607,7559,3448,684,124,00000004,694,201,0004,947,896,0006,230,215,0006,293,916,00004,506,913,000
   Capital Surplus 0000000000000000000000000000000000000000000000000000000000000000000000000000000000000
   Treasury Stock000000000000000000000-10,054-4,633-4,633-4,633-4,633-4,633-4,633-4,633-4,633-4,633-4,633-4,633-2,944-2,649-2,649-2,649-2,649-2,649-2,649-2,649-7,318-5,244-451-451-322000000000000000000000000000000000000000
   Other Stockholders Equity 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
11,591
18,075
17,693
22,467
28,579
58,498
44,632
46,719
50,622
43,536
50,219
53,849
51,018
81,220
80,176
88,779
98,582
95,221
189,923
229,997
240,870
258,965
322,805
315,753
541,901
0
0
00541,901315,753322,805258,965240,870229,997189,92395,22198,58288,77980,17681,22051,01853,84950,21943,53650,62246,71944,63258,49828,57922,46717,69318,07511,5910000000000000000000000000000000000000000000000000000000000



Balance Sheet

Currency in TRY. All numbers in thousands.