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Aselsan Valuation Multiples

Discover revenue and EBITDA valuation multiples for Aselsan and similar public comparables like Droneshield, Codan, and Electro Optic Systems.

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

Turkey
Employees

5.7K+

Website

aselsan.com.tr

Financials

LTM Revenue $3.5B

LTM EBITDA $868M

EV

$14.7B

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Aselsan Financials

Aselsan has a last 12-month revenue of $3.5B and a last 12-month EBITDA of $868M.

In the most recent fiscal year, Aselsan achieved revenue of $3.2B and an EBITDA of $420M.

Aselsan expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Aselsan P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $1.9B $3.2B XXX XXX XXX
Gross Profit $310M $529M XXX XXX XXX
Gross Margin 16% 17% XXX XXX XXX
EBITDA $361M $420M XXX XXX XXX
EBITDA Margin 19% 13% XXX XXX XXX
Net Profit $313M $192M XXX XXX XXX
Net Margin 16% 6% XXX XXX XXX
Net Debt $135M $351M XXX XXX XXX

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Aselsan Stock Performance

As of April 15, 2025, Aselsan's stock price is TRY 119 (or $3).

Aselsan has current market cap of TRY 544B (or $14.3B), and EV of TRY 560B (or $14.7B).

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Aselsan Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$14.7B $14.3B XXX XXX XXX XXX $0.10

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Aselsan Valuation Multiples

As of April 15, 2025, Aselsan has market cap of $14.3B and EV of $14.7B.

Aselsan's trades at 4.2x LTM EV/Revenue multiple, and 17.0x LTM EBITDA.

Analysts estimate Aselsan's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Aselsan Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $14.7B XXX XXX XXX
EV/Revenue 4.7x XXX XXX XXX
EV/EBITDA 35.0x XXX XXX XXX
P/E 35.6x XXX XXX XXX
P/E/Growth 0.7x XXX XXX XXX
EV/FCF 4725.6x XXX XXX XXX

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Aselsan Valuation Multiples

Aselsan's NTM/LTM revenue growth is 31%

Aselsan's revenue per employee for the last fiscal year averaged $0.6M, while opex per employee averaged $0.1M for the same period.

Over next 12 months, Aselsan's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Aselsan's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Aselsan Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 63% XXX XXX XXX XXX
EBITDA Margin 13% XXX XXX XXX XXX
EBITDA Growth 17% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 44% XXX XXX XXX XXX
Revenue per Employee $0.6M XXX XXX XXX XXX
Opex per Employee $0.1M XXX XXX XXX XXX
S&M Expenses to Revenue 1% XXX XXX XXX XXX
G&A Expenses to Revenue 1% XXX XXX XXX XXX
R&D Expenses to Revenue 3% XXX XXX XXX XXX
Opex to Revenue 10% XXX XXX XXX XXX

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Aselsan Public Comps

See public comps and valuation multiples for Defense Systems comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Theon XXX XXX XXX XXX XXX XXX
Austal XXX XXX XXX XXX XXX XXX
Codan XXX XXX XXX XXX XXX XXX
Droneshield XXX XXX XXX XXX XXX XXX
Electro Optic Systems XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Aselsan M&A and Investment Activity

Aselsan acquired  XXX companies to date.

Last acquisition by Aselsan was  XXXXXXXX, XXXXX XXXXX XXXXXX . Aselsan acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Aselsan

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About 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 5.7K+ employees.
Is Aselsan publicy listed? Yes, Aselsan is a public company listed on IST.
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? Similar companies to Aselsan include e.g. Theon, Austal, Codan, Droneshield.
What is the current market cap of Aselsan? Aselsan's current market cap is $14.3B
What is the current revenue of Aselsan? Aselsan's last 12-month revenue is $3.5B.
What is the current EBITDA of Aselsan? Aselsan's last 12-month EBITDA is $868M.
What is the current EV/Revenue multiple of Aselsan? Current revenue multiple of Aselsan is 4.2x.
What is the current EV/EBITDA multiple of Aselsan? Current EBITDA multiple of Aselsan is 17.0x.
What is the current revenue growth of Aselsan? Aselsan revenue growth between 2023 and 2024 was 63%.
Is Aselsan profitable? Yes, Aselsan is EBITDA-positive (as of the last 12 months).

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