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Ulker Biskuvi Sanayi AS manufactures biscuits, crackers, chocolate, and cake in its half a dozen production facilities in Turkey. Its major brands include Ulker, Alpella, Halk, Kat Tat, and Karsa. The company also has a financial stake in the Godiva brand. Biscuit sales and chocolate sales each account for more than 40% of the company’s total revenue. Substantially all of the remaining revenue is from cake sales. Nearly 90% of the company’s total revenue comes from sales in Turkey. The company is a subsidiary of Yildiz Holding.
1944
9.3K+
LTM Revenue $2.4B
LTM EBITDA $432M
$1.7B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Ülker has a last 12-month revenue of $2.4B and a last 12-month EBITDA of $432M.
In the most recent fiscal year, Ülker achieved revenue of $2.2B and an EBITDA of $462M.
Ülker expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Ülker valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $1.5B | $2.2B | XXX | XXX | XXX |
| Gross Profit | $221M | $425M | XXX | XXX | XXX |
| Gross Margin | 15% | 19% | XXX | XXX | XXX |
| EBITDA | $261M | $462M | XXX | XXX | XXX |
| EBITDA Margin | 18% | 21% | XXX | XXX | XXX |
| Net Profit | -$9.3M | $88.9M | XXX | XXX | XXX |
| Net Margin | -1% | 4% | XXX | XXX | XXX |
| Net Debt | $381M | $497M | XXX | XXX | XXX |
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As of April 15, 2025, Ülker's stock price is TRY 112 (or $3).
Ülker has current market cap of TRY 41.4B (or $1.1B), and EV of TRY 63.1B (or $1.7B).
See Ülker trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $1.7B | $1.1B | XXX | XXX | XXX | XXX | $0.61 |
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Sign UpAs of April 15, 2025, Ülker has market cap of $1.1B and EV of $1.7B.
Ülker's trades at 0.7x LTM EV/Revenue multiple, and 3.8x LTM EBITDA.
Analysts estimate Ülker's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Ülker and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $1.7B | XXX | XXX | XXX |
| EV/Revenue | 0.7x | XXX | XXX | XXX |
| EV/EBITDA | 3.6x | XXX | XXX | XXX |
| P/E | 5.6x | XXX | XXX | XXX |
| P/E/Growth | 0.2x | XXX | XXX | XXX |
| EV/FCF | 19.6x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpÜlker's NTM/LTM revenue growth is 25%
Ülker's revenue per employee for the last fiscal year averaged $0.2M, while opex per employee averaged $32K for the same period.
Over next 12 months, Ülker'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 Ülker's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Ülker and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 51% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 21% | XXX | XXX | XXX | XXX |
| EBITDA Growth | 77% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 46% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.2M | XXX | XXX | XXX | XXX |
| Opex per Employee | $32K | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | 9% | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 1% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | 0% | XXX | XXX | XXX | XXX |
| Opex to Revenue | 14% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Agthia Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Acomo | XXX | XXX | XXX | XXX | XXX | XXX |
| ForFarmers | XXX | XXX | XXX | XXX | XXX | XXX |
| JDE Peets | XXX | XXX | XXX | XXX | XXX | XXX |
| Sligro Food Group | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Ülker acquired XXX companies to date.
Last acquisition by Ülker was XXXXXXXX, XXXXX XXXXX XXXXXX . Ülker acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| 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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Sign Up| When was Ülker founded? | Ülker was founded in 1944. |
| Where is Ülker headquartered? | Ülker is headquartered in Turkey. |
| How many employees does Ülker have? | As of today, Ülker has 9.3K+ employees. |
| Who is the CEO of Ülker? | Ülker's CEO is Mr. Mete Buyurgan. |
| Is Ülker publicy listed? | Yes, Ülker is a public company listed on IST. |
| What is the stock symbol of Ülker? | Ülker trades under ULKER ticker. |
| When did Ülker go public? | Ülker went public in 2004. |
| Who are competitors of Ülker? | Similar companies to Ülker include e.g. Agthia Group, Acomo, ForFarmers, JDE Peets. |
| What is the current market cap of Ülker? | Ülker's current market cap is $1.1B |
| What is the current revenue of Ülker? | Ülker's last 12-month revenue is $2.4B. |
| What is the current EBITDA of Ülker? | Ülker's last 12-month EBITDA is $432M. |
| What is the current EV/Revenue multiple of Ülker? | Current revenue multiple of Ülker is 0.7x. |
| What is the current EV/EBITDA multiple of Ülker? | Current EBITDA multiple of Ülker is 3.8x. |
| What is the current revenue growth of Ülker? | Ülker revenue growth between 2023 and 2024 was 51%. |
| Is Ülker profitable? | Yes, Ülker is EBITDA-positive (as of the last 12 months). |
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