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ASELSAN Valuation Multiples
Discover revenue and EBITDA valuation multiples for ASELSAN and similar public comparables like Elbit Systems, Hanwha Aerospace, Leonardo, Bharat Electronics and more.
ASELSAN Overview
About ASELSAN
Aselsan Elektronik Sanayi Ve Ticaret AS provides defense technologies to the Turkish armed forces. Additionally, it exports systems and solutions to clients in other countries and has taken on civil projects. Its products may help with communications, radars, sensing, or other defense systems to enhance proficiencies within the industrials sector. Marketing efforts may be geared toward a specific customer or specific segment in the market, and plans are implemented to showcase product capabilities.
Founded
1975
HQ
Employees
5.7K
Website
Sectors
Financials (LTM)
EV
$43B
ASELSAN Financials
ASELSAN reported last 12-month revenue of $5B and EBITDA of $1B.
In the same LTM period, ASELSAN generated $2B in gross profit, $1B in EBITDA, and $820M in net income.
ASELSAN P&L
In the most recent fiscal year, ASELSAN reported revenue of $4B and EBITDA of $1B.
ASELSAN expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $5B | XXX | $4B | XXX | XXX | XXX |
| Gross Profit | $2B | XXX | $1B | XXX | XXX | XXX |
| Gross Margin | 34% | XXX | 30% | XXX | XXX | XXX |
| EBITDA | $1B | XXX | $1B | XXX | XXX | XXX |
| EBITDA Margin | 26% | XXX | 27% | XXX | XXX | XXX |
| EBIT Margin | 24% | XXX | 24% | XXX | XXX | XXX |
| Net Profit | $820M | XXX | $700M | XXX | XXX | XXX |
| Net Margin | 17% | XXX | 17% | XXX | XXX | XXX |
| Net Debt | — | — | $309M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
ASELSAN Stock Performance
ASELSAN has current market cap of $42B, and enterprise value of $43B.
ASELSAN's stock price is $9.30.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $43B | $42B | -1.5% | XXX | XXX | XXX | $0.15 |
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Start Free TrialASELSAN Valuation Multiples
ASELSAN trades at 8.9x EV/Revenue multiple, and 33.9x EV/EBITDA.
ASELSAN Financial Valuation Multiples
As of May 1, 2026, ASELSAN has market cap of $42B and EV of $43B.
Equity research analysts estimate ASELSAN's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
ASELSAN has a P/E ratio of 51.7x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $42B | XXX | $42B | XXX | XXX | XXX |
| EV (current) | $43B | XXX | $43B | XXX | XXX | XXX |
| EV/Revenue | 8.9x | XXX | 10.2x | XXX | XXX | XXX |
| EV/EBITDA | 33.9x | XXX | 38.4x | XXX | XXX | XXX |
| EV/EBIT | 36.9x | XXX | 42.0x | XXX | XXX | XXX |
| EV/Gross Profit | 25.9x | XXX | 33.6x | XXX | XXX | XXX |
| P/E | 51.7x | XXX | 60.6x | XXX | XXX | XXX |
| EV/FCF | 224.8x | XXX | 167.2x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified ASELSAN Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
ASELSAN Margins & Growth Rates
ASELSAN's revenue in the last 12 month grew by 47%.
ASELSAN's revenue per employee in the last FY averaged $0.7M, while opex per employee averaged $0.1M for the same period.
ASELSAN's rule of 40 is 77% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
ASELSAN's rule of X is 155% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
ASELSAN Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 47% | XXX | 44% | XXX | XXX | XXX |
| EBITDA Margin | 26% | XXX | 27% | XXX | XXX | XXX |
| EBITDA Growth | 44% | XXX | 40% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 77% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 155% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.7M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 2% | XXX | 2% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 3% | XXX | 3% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 3% | XXX | 3% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 8% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
ASELSAN Public Comps
See public comps and valuation multiples for other Defense Systems comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| ASELSAN | XXX | XXX | XXX | XXX | XXX | XXX |
| Elbit Systems | XXX | XXX | XXX | XXX | XXX | XXX |
| Hanwha Aerospace | XXX | XXX | XXX | XXX | XXX | XXX |
| Leonardo | XXX | XXX | XXX | XXX | XXX | XXX |
| Bharat Electronics | XXX | XXX | XXX | XXX | XXX | XXX |
| Saab | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
ASELSAN M&A Activity
ASELSAN acquired XXX companies to date.
Last acquisition by ASELSAN was on XXXXXXXX, XXXXX. ASELSAN acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by ASELSAN
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialASELSAN Investment Activity
ASELSAN invested in XXX companies to date.
ASELSAN made its latest investment on XXXXXXXX, XXXXX. ASELSAN invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by ASELSAN
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout ASELSAN
| When was ASELSAN founded? | ASELSAN was founded in 1975. |
| Where is ASELSAN headquartered? | ASELSAN is headquartered in Turkey. |
| How many employees does ASELSAN have? | As of today, ASELSAN has over 5K employees. |
| Is ASELSAN publicly listed? | Yes, ASELSAN is a public company listed on Borsa Istanbul. |
| What is the stock symbol of ASELSAN? | ASELSAN trades under ASELS ticker. |
| When did ASELSAN go public? | ASELSAN went public in 1990. |
| Who are competitors of ASELSAN? | ASELSAN main competitors are Elbit Systems, Hanwha Aerospace, Leonardo, Bharat Electronics. |
| What is the current market cap of ASELSAN? | ASELSAN's current market cap is $42B. |
| What is the current revenue of ASELSAN? | ASELSAN's last 12 months revenue is $5B. |
| What is the current revenue growth of ASELSAN? | ASELSAN revenue growth (NTM/LTM) is 47%. |
| What is the current EV/Revenue multiple of ASELSAN? | Current revenue multiple of ASELSAN is 8.9x. |
| Is ASELSAN profitable? | Yes, ASELSAN is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of ASELSAN? | ASELSAN's last 12 months EBITDA is $1B. |
| What is ASELSAN's EBITDA margin? | ASELSAN's last 12 months EBITDA margin is 26%. |
| What is the current EV/EBITDA multiple of ASELSAN? | Current EBITDA multiple of ASELSAN is 33.9x. |
| What is the current FCF of ASELSAN? | ASELSAN's last 12 months FCF is $190M. |
| What is ASELSAN's FCF margin? | ASELSAN's last 12 months FCF margin is 4%. |
| What is the current EV/FCF multiple of ASELSAN? | Current FCF multiple of ASELSAN is 224.8x. |
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