September 2026
Largest Construction & Engineering Public Companies in Turkey
Benchmark revenue and EBITDA valuation multiples for public comps like
ENKA İnşaat, Tekfen Holding, Akfen İnşaat, Gülermak and YEO Teknoloji Enerji ve Endüstri.
 | Enka Insaat Ve Sanayi AS provides a full range of design, engineering, construction, and project management services in various sectors. It creates power plants, production facilities, transportation systems, and other construction projects. If needed, the company will engineer and fabricate structures for installation and modularization. Enka Insaat Ve Sanayi has four operating segments: construction contracts; rental, trade and manufacturing; and energy (the majority of total revenue). Additional revenue is generated from aftermarket support and services, and the company utilizes a mix of traditional engineering disciplines to produce results. The company derives the majority of its revenue from Turkey, but the company does operate in various European nations. | $2 | +5% | $10B | $7B | 1.8x | 5.4x | ||
| Tekfen Holding AS is a conglomerate that operates in below business lines: Engineering and Contracting; Agricultural Industry; and Investment. It generates maximum revenue from the Agricultural Industry segment. The Agricultural Industry segment is engaged in the production and sale of mineral fertilizers as well as special water soluble fertilizers and organic fertilizers. It also manufactures bags used in fertilizer packaging in its facility. Additionally, it generates biogas through the fermentation of organic wastes and electricity from biogas and also produces solid and liquid organic fertilizers from wastes that have completed the gasification process. Geographically, the company generates maximum revenue from Turkey and the rest from the CIS, the Middle East, and other regions. | $5 | +156% | $1.8B | $2B | 1.8x | 981.6x | ||
| Akfen Insaat Turizm Ve Ticaret AS is engaged in the construction and infrastructure sector. The company focuses on large-scale projects and public-private partnership (PPP) investments, initially focused on contracting and completing infrastructure projects, the company has diversified into healthcare, education, and real estate, with a portfolio of PPP hospitals, student housing, and residential/commercial units. | $0 | -51% | $1B | $1.4B | 7.3x | 15.4x | ||
| Gulermak Agir Sanayi Insaat Ve Taahhut AS Operating in large-scale and complex infrastructure projects in the construction sector. The Company’s main field of activity is to provide turnkey infrastructure and industrial construction projects such as metro, railway, tram, tunnel, road, bridge, dam, cement factory, glass factory, sugar factory and power plants for official and private institutions in Turkey and abroad. The Company continues its activities in different geographies in Poland, Romania, Sweden, Switzerland, Philippines, North Macedonia, U.A.E. and India. | $3 | -29% | $960M | $967M | 1.0x | 6.1x | ||
| Yeo Teknoloji Enerji Ve Endustri AS is engaged in the electrification value-chain from power generation, transmission and distribution to the efficient application of electrical energy. It is also providing state-of-the art solutions in fields of electrification, automation, and digitalization. It executes projects as the EPC contractor in design, engineering, installation, and commissioning for traditional state-owned utilities and independent power plant developers. | $1 | +107% | $552M | $691M | 2.0x | 13.4x | ||
| Sa Ra Enerji Insaat Ticaret Ve Sanayi AS operates in a wide range of sectors, from energy and construction to tourism and industry. Its area of activity is Energy Contracting, Industry, Design and Engineering, Construction and Real Estate, and Tourism. | $1 | -- | $470M | $604M | 4.2x | 20.5x | ||
| Anel Elektrik Proje Taahhut ve Ticaret AS offers electromechanical project contracting services. It develops electrical projects for airports, shopping centers & tourism facilities & is also engages in construction, leasing & maintenance operations. | $2 | +373% | $462M | $461M | 2.8x | (45.6x) | ||
| Orge Enerji Elektrik Taahhut AS is an electrical installation contracting company. It builds electricity distribution lines and other electrical infrastructure. | $0 | -- | $185M | $178M | 2.5x | 9.1x | ||
| Hat San Gemi Insaa Bakim Onarim Deniz Nakliyat Sanayi ve Ticaret AS is a company engaged in purchase of domestic and foreign shipbuilding facilities, shipyards, hotels, cruise ships and yachts of all tonnages. It also operates in special transformation projects. Extension projects on ships, special project installations related to new machinery, equipment or production, and heavy steel construction works are the expertise of HAT-SAN Shipyard. | $1 | -- | $161M | $166M | 1.7x | 55.9x | ||
| Ucay Muhendislik Enerji ve Iklimlendirme Teknolojileri AS is a Turkish engineering company specializing in the energy, HVAC, electrical, mechanical, and technology fields. Its field of activities include Energy, Electromechanics, HVAC, E-Mobility, and R&D & Technology. The company provides installation and integration services for residential, commercial, and industrial projects, including natural gas systems, heat pumps, smart home systems, and renewable energy installations. | $0 | -- | $82M | $73M | 1.0x | 11.9x | ||
| Birlesim Muhendislik Isitma Sogutma Havalandirma Sanayi ve Ticaret AS is engaged in all kinds of buildings from project design phase to the commissioning regarding the Heating - Cooling - Ventilation. | $0 | -- | $63M | $79M | 0.8x | 11.6x | ||
| San-El Muhendislik Elektrik Taahhut Sanayi ve Ticaret AS activities include the design, construction, and installation of medium voltage and low voltage compensation and harmonic filter systems; component-based sales of medium voltage and low voltage compensation and harmonic filter products; and analysis and reporting services for energy quality in transmission and distribution networks. | $1 | -- | $15M | $17M | 2.4x | 4.2x | ||
| Median | $1 | +56% | $466M | $533M | 1.9x | 11.7x |
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