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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 $2.5B
LTM EBITDA $448M
$1.9B
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 (LTM) of $2.5B and a last 12-month EBITDA of $448M.
In the most recent fiscal year, Ülker achieved revenue of $2.1B and an EBITDA of $428M.
Ülker expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Ülker valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $2.5B | XXX | $2.1B | XXX | XXX | XXX |
| Gross Profit | n/a | XXX | $611M | XXX | XXX | XXX |
| Gross Margin | n/a | XXX | 30% | XXX | XXX | XXX |
| EBITDA | $448M | XXX | $428M | XXX | XXX | XXX |
| EBITDA Margin | 18% | XXX | 21% | XXX | XXX | XXX |
| EBIT | $383M | XXX | $332M | XXX | XXX | XXX |
| EBIT Margin | 15% | XXX | 16% | XXX | XXX | XXX |
| Net Profit | $204M | XXX | $180M | XXX | XXX | XXX |
| Net Margin | 8% | XXX | 9% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | $529M | XXX | XXX | XXX |
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As of August 29, 2025, Ülker's stock price is TRY 113 (or $3).
Ülker has current market cap of TRY 41.9B (or $1.0B), and EV of TRY 79.8B (or $1.9B).
See Ülker trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $1.9B | $1.0B | XXX | XXX | XXX | XXX | $0.58 |
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Start Free TrialAs of August 29, 2025, Ülker has market cap of $1.0B and EV of $1.9B.
Ülker's trades at 0.9x EV/Revenue multiple, and 4.5x EV/EBITDA.
Equity research analysts estimate Ülker's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Ülker has a P/E ratio of 5.0x.
See valuation multiples for Ülker and 15K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $1.0B | XXX | $1.0B | XXX | XXX | XXX |
| EV (current) | $1.9B | XXX | $1.9B | XXX | XXX | XXX |
| EV/Revenue | 0.8x | XXX | 0.9x | XXX | XXX | XXX |
| EV/EBITDA | 4.3x | XXX | 4.5x | XXX | XXX | XXX |
| EV/EBIT | 5.1x | XXX | 5.9x | XXX | XXX | XXX |
| EV/Gross Profit | n/a | XXX | n/a | XXX | XXX | XXX |
| P/E | 5.0x | XXX | 5.7x | XXX | XXX | XXX |
| EV/FCF | n/a | XXX | 24.8x | XXX | XXX | XXX |
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Start Free TrialÜlker's last 12 month revenue growth is 26%
Ülker's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $30K for the same period.
Ülker's rule of 40 is 44% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Ülker's rule of X is 82% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for Ülker and other 15K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 26% | XXX | 29% | XXX | XXX | XXX |
| EBITDA Margin | 18% | XXX | 21% | XXX | XXX | XXX |
| EBITDA Growth | 25% | XXX | 40% | XXX | XXX | XXX |
| Rule of 40 | 44% | XXX | 47% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 82% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.2M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $30K | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | 9% | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | 0% | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 14% | 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 Peet's | 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 |
Valuation data powered by FactSet, Inc.
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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Start Free Trial| 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 Peet's. |
| What is the current market cap of Ülker? | Ülker's current market cap is $1.0B |
| What is the current revenue of Ülker? | Ülker's last 12 months revenue is $2.5B. |
| What is the current revenue growth of Ülker? | Ülker revenue growth (NTM/LTM) is 26%. |
| What is the current EV/Revenue multiple of Ülker? | Current revenue multiple of Ülker is 0.8x. |
| Is Ülker profitable? | Yes, Ülker is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Ülker? | Ülker's last 12 months EBITDA is $448M. |
| What is Ülker's EBITDA margin? | Ülker's last 12 months EBITDA margin is 18%. |
| What is the current EV/EBITDA multiple of Ülker? | Current EBITDA multiple of Ülker is 4.3x. |
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