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Turkcell Valuation Multiples
Discover revenue and EBITDA valuation multiples for Turkcell and similar public comparables like United Internet, TPG Telecom, PCCW, Zegona Communications and more.
Turkcell Overview
About Turkcell
Turkcell Iletisim Hizmetleri AS provides mobile telephone services in Turkey. The firm's services portfolio includes high-quality mobile and fixed voice, data, TV, and digital services over its network. The firm also operates in the Turkish Republic of Northern Cyprus, Belarus, the Netherlands, and Ukraine. It has three main reportable segments: Turkcell Turkiye, Turkcell International, and Techfin. The Turkcell Turkiye segment, which derives the majority of revenue, comprises mainly telecommunication and technology services activities.
Founded
1993
HQ
Employees
22.2K
Website
Sectors
Financials (LTM)
EV
$7B
Turkcell Financials
Turkcell reported last 12-month revenue of $6B and EBITDA of $2B.
In the same LTM period, Turkcell generated $2B in EBITDA and $440M in net income.
Revenue (LTM)
Turkcell P&L
In the most recent fiscal year, Turkcell reported revenue of $4B and EBITDA of $2B.
Turkcell expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $6B | XXX | $4B | XXX | XXX | XXX |
| Gross Profit | — | XXX | $934M | XXX | XXX | XXX |
| Gross Margin | — | XXX | 25% | XXX | XXX | XXX |
| EBITDA | $2B | XXX | $2B | XXX | XXX | XXX |
| EBITDA Margin | 43% | XXX | 45% | XXX | XXX | XXX |
| EBIT Margin | 16% | XXX | 14% | XXX | XXX | XXX |
| Net Profit | $440M | XXX | $534M | XXX | XXX | XXX |
| Net Margin | 8% | XXX | 14% | XXX | XXX | XXX |
| Net Debt | — | — | $695M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Turkcell Stock Performance
Turkcell has current market cap of $6B, and enterprise value of $7B.
Market Cap Evolution
Turkcell's stock price is $2.59.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $7B | $6B | (0.2%) | XXX | XXX | XXX | $0.25 |
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Start Free TrialTurkcell Valuation Multiples
Turkcell trades at 1.2x EV/Revenue multiple, and 2.7x EV/EBITDA.
EV / Revenue (LTM)
Turkcell Financial Valuation Multiples
As of March 7, 2026, Turkcell has market cap of $6B and EV of $7B.
Equity research analysts estimate Turkcell's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Turkcell has a P/E ratio of 12.8x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $6B | XXX | $6B | XXX | XXX | XXX |
| EV (current) | $7B | XXX | $7B | XXX | XXX | XXX |
| EV/Revenue | 1.2x | XXX | 1.8x | XXX | XXX | XXX |
| EV/EBITDA | 2.7x | XXX | 3.9x | XXX | XXX | XXX |
| EV/EBIT | 7.1x | XXX | 12.6x | XXX | XXX | XXX |
| EV/Gross Profit | — | XXX | 7.1x | XXX | XXX | XXX |
| P/E | 12.8x | XXX | 10.6x | XXX | XXX | XXX |
| EV/FCF | (97.3x) | XXX | 23.7x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Turkcell 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.
Turkcell Margins & Growth Rates
Turkcell's revenue in the last 12 month grew by 29%.
Turkcell's revenue per employee in the last FY averaged $0.3M.
Turkcell's rule of 40 is 71% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Turkcell's rule of X is 114% (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).
Turkcell Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 29% | XXX | 45% | XXX | XXX | XXX |
| EBITDA Margin | 43% | XXX | 45% | XXX | XXX | XXX |
| EBITDA Growth | 27% | XXX | 39% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 71% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 114% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| S&M Expenses to Revenue | — | XXX | 3% | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 8% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 11% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Turkcell Public Comps
See public comps and valuation multiples for other Telecom Service Providers comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| United Internet | XXX | XXX | XXX | XXX | XXX | XXX |
| TPG Telecom | XXX | XXX | XXX | XXX | XXX | XXX |
| PCCW | XXX | XXX | XXX | XXX | XXX | XXX |
| Zegona Communications | XXX | XXX | XXX | XXX | XXX | XXX |
| Axiata Group | 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.
Turkcell M&A Activity
Turkcell acquired XXX companies to date.
Last acquisition by Turkcell was on XXXXXXXX, XXXXX. Turkcell acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Turkcell
| 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 TrialTurkcell Investment Activity
Turkcell invested in XXX companies to date.
Turkcell made its latest investment on XXXXXXXX, XXXXX. Turkcell invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Turkcell
| 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 Turkcell
| When was Turkcell founded? | Turkcell was founded in 1993. |
| Where is Turkcell headquartered? | Turkcell is headquartered in Turkey. |
| How many employees does Turkcell have? | As of today, Turkcell has over 22K employees. |
| Who is the CEO of Turkcell? | Turkcell's CEO is Ali Taha Koc. |
| Is Turkcell publicly listed? | Yes, Turkcell is a public company listed on Borsa Istanbul. |
| What is the stock symbol of Turkcell? | Turkcell trades under TCELL ticker. |
| When did Turkcell go public? | Turkcell went public in 2000. |
| Who are competitors of Turkcell? | Turkcell main competitors are United Internet, TPG Telecom, PCCW, Zegona Communications. |
| What is the current market cap of Turkcell? | Turkcell's current market cap is $6B. |
| What is the current revenue of Turkcell? | Turkcell's last 12 months revenue is $6B. |
| What is the current revenue growth of Turkcell? | Turkcell revenue growth (NTM/LTM) is 29%. |
| What is the current EV/Revenue multiple of Turkcell? | Current revenue multiple of Turkcell is 1.2x. |
| Is Turkcell profitable? | Yes, Turkcell is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Turkcell? | Turkcell's last 12 months EBITDA is $2B. |
| What is Turkcell's EBITDA margin? | Turkcell's last 12 months EBITDA margin is 43%. |
| What is the current EV/EBITDA multiple of Turkcell? | Current EBITDA multiple of Turkcell is 2.7x. |
| What is the current FCF of Turkcell? | Turkcell's last 12 months FCF is ($68M). |
| What is Turkcell's FCF margin? | Turkcell's last 12 months FCF margin is (1%). |
| What is the current EV/FCF multiple of Turkcell? | Current FCF multiple of Turkcell is (97.3x). |
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