Turkcell Iletisim Hizmetleri A.S.

TKC

Telecommunications Services · Communication Services

Exchange

New York Stock Exchange

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Exceptional

Stability

Mixed

Valuation

Good

Dividends

Strong

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Winston Score History

The full picture

Turkcell is Turkey's largest mobile phone network operator. It sells wireless phone plans, internet data, and digital services to tens of millions of individual customers and businesses across Turkey. The company also owns and operates networks in Ukraine and a handful of other countries in the region.

Turkcell makes most of its money by charging monthly fees for mobile and broadband subscriptions. It also earns revenue from digital services like its own streaming, payments, and cloud platforms. The company's size gives it a strong position in Turkey, where it holds the leading share of the mobile market. However, Turkey's high inflation environment is a significant ongoing risk — it erodes the real value of revenues and makes long-term financial planning difficult, even as subscriber growth and digital service expansion remain the key drivers the company is betting on.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+39.2% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+26.1% YoY

YoY Growth Rate

Strong earnings growth

Insider Activity

46.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$176.0B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Turkcell Iletisim Hizmetleri A.S. grew revenue 39% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

25.4%

Modest — 25.4% gross margin

Profit after running costs

Operating Margin

13.2%

Healthy — 13.2% operating margin

Return on the money invested

ROCE

6.0%

Weak — 6.0% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+5.3%

Slow sales growth (+5.3% YoY)

Profit growth

EPS YoY

-19.1%

Earnings shrinking (-19.1% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

551%

Turns 551% of profit into real cash

Spare cash per sale

FCF Margin

19.7%

Converts sales into free cash efficiently (19.7%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

0.64

Moderate — manageable debt (0.64)

Covers its interest

Interest Cover

1.40x

Dangerous — barely covers interest (1.4x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

11.6x

no trend

Attractive valuation — P/E 11.6

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

-425.3

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

3.87%

no trend

Moderate income — 3.87% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+23.5%

no trend

Dividend growing fast (23.5% YoY)

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