Turkcell Iletisim Hizmetleri A.S (TUL1) - Net Assets
Based on the latest financial reports, Turkcell Iletisim Hizmetleri A.S (TUL1) has net assets worth €243.03 Billion EUR (≈ $284.13 Billion USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€491.42 Billion ≈ $574.52 Billion USD) and total liabilities (€248.39 Billion ≈ $290.39 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check asset resilience ratio of Turkcell Iletisim Hizmetleri A.S to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €243.03 Billion |
| % of Total Assets | 49.45% |
| Annual Growth Rate | 35.9% |
| 5-Year Change | 799.53% |
| 10-Year Change | N/A |
| Growth Volatility | 93.44 |
Turkcell Iletisim Hizmetleri A.S - Net Assets Trend (2016–2024)
This chart illustrates how Turkcell Iletisim Hizmetleri A.S's net assets have evolved over time, based on quarterly financial data. Also explore TUL1 total assets for the complete picture of this company's asset base.
Annual Net Assets for Turkcell Iletisim Hizmetleri A.S (2016–2024)
The table below shows the annual net assets of Turkcell Iletisim Hizmetleri A.S from 2016 to 2024. For live valuation and market cap data, see TUL1 market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | €186.97 Billion ≈ $218.58 Billion |
+52.96% |
| 2023-12-31 | €122.23 Billion ≈ $142.91 Billion |
+295.65% |
| 2022-12-31 | €30.90 Billion ≈ $36.12 Billion |
+36.93% |
| 2021-12-31 | €22.56 Billion ≈ $26.38 Billion |
+8.55% |
| 2020-12-31 | €20.78 Billion ≈ $24.30 Billion |
+14.94% |
| 2019-12-31 | €18.08 Billion ≈ $21.14 Billion |
+12.64% |
| 2018-12-31 | €16.05 Billion ≈ $18.77 Billion |
+6.70% |
| 2017-12-31 | €15.05 Billion ≈ $17.59 Billion |
-6.37% |
| 2016-12-31 | €16.07 Billion ≈ $18.79 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to Turkcell Iletisim Hizmetleri A.S's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 919.2% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €142.45 Billion | 76.19% |
| Other Components | €44.52 Billion | 23.81% |
| Total Equity | €186.97 Billion | 100.00% |
Turkcell Iletisim Hizmetleri A.S Competitors by Market Cap
The table below lists competitors of Turkcell Iletisim Hizmetleri A.S ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Henan Zhongfu Industrial Co Ltd
SHG:600595
|
$4.53 Billion |
|
RioCan Real Estate Investment Trust
TO:REI-UN
|
$4.53 Billion |
|
PLDT Inc ADR
NYSE:PHI
|
$4.54 Billion |
|
AVIC (Chengdu) UAS Co. Ltd. A
SHG:688297
|
$4.54 Billion |
|
AAC TECHNOLOG.HLDG.ADR/
F:A2X
|
$4.53 Billion |
|
Inner Mongolia ERDOS Resources Co Ltd
SHG:600295
|
$4.53 Billion |
|
GPGI, Inc.
NYSE:GPGI
|
$4.53 Billion |
|
Rising Nonferrous Metals Share Co Ltd
SHG:600259
|
$4.53 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Turkcell Iletisim Hizmetleri A.S's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 122,247,819,000 to 186,966,530,000, a change of 64,718,711,000 (52.9%).
- Net income of 23,523,425,000 contributed positively to equity growth.
- Dividend payments of 7,314,621,000 reduced retained earnings.
- Other factors increased equity by 48,509,907,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €23.52 Billion | +12.58% |
| Dividends Paid | €7.31 Billion | -3.91% |
| Other Changes | €48.51 Billion | +25.95% |
| Total Change | €- | 52.94% |
Book Value vs Market Value Analysis
This analysis compares Turkcell Iletisim Hizmetleri A.S's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.06x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 0.75x to 0.06x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | €6.83 | €5.15 | x |
| 2018-12-31 | €7.27 | €5.15 | x |
| 2019-12-31 | €8.26 | €5.15 | x |
| 2020-12-31 | €9.52 | €5.15 | x |
| 2021-12-31 | €10.33 | €5.15 | x |
| 2022-12-31 | €14.16 | €5.15 | x |
| 2023-12-31 | €56.02 | €5.15 | x |
| 2024-12-31 | €85.80 | €5.15 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Turkcell Iletisim Hizmetleri A.S utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 12.58%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 14.11%
- • Asset Turnover: 0.48x
- • Equity Multiplier: 1.84x
- Recent ROE (12.58%) is below the historical average (17.68%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 9.32% | 10.44% | 0.45x | 1.97x | €-109.09 Million |
| 2017 | 13.20% | 11.22% | 0.52x | 2.27x | €480.21 Million |
| 2018 | 12.69% | 9.49% | 0.50x | 2.69x | €428.89 Million |
| 2019 | 17.99% | 12.92% | 0.55x | 2.53x | €1.44 Billion |
| 2020 | 20.39% | 14.56% | 0.57x | 2.48x | €2.16 Billion |
| 2021 | 22.30% | 14.01% | 0.51x | 3.13x | €2.77 Billion |
| 2022 | 35.78% | 20.52% | 0.53x | 3.28x | €7.96 Billion |
| 2023 | 14.83% | 11.72% | 0.63x | 2.02x | €5.90 Billion |
| 2024 | 12.58% | 14.11% | 0.48x | 1.84x | €4.83 Billion |
Industry Comparison
This section compares Turkcell Iletisim Hizmetleri A.S's net assets metrics with peer companies in the Telecom Services industry.
Industry Context
- Industry: Telecom Services
- Average net assets among peers: $41,929,331,538
- Average return on equity (ROE) among peers: 16.59%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Turkcell Iletisim Hizmetleri A.S (TUL1) | €243.03 Billion | 9.32% | 1.02x | $4.53 Billion |
| LIBERTY LAT.AMER.A DL-01 (1LL) | $1.63 Billion | -42.40% | 6.87x | $300.16 Million |
| 1&1 AG (1U1) | $353.02 Million | 13.06% | 0.95x | $4.35 Billion |
| CHINA TOWER UNSP.ADR/100 (2Y10) | $193.59 Billion | 4.54% | 0.58x | $5.02 Billion |
| TELSTRA GROUP LTD SP.ADR (5KB) | $16.84 Billion | 10.03% | 1.47x | $37.53 Billion |
| VODACOM GROUP LTD. SP.ADR (5VD0) | $103.65 Billion | 16.01% | 1.41x | $15.26 Billion |
| EuroTeleSites AG (7YF) | $234.07 Million | 0.00% | 7.39x | $735.93 Million |
| AIRTEL AFRICA UNSP.ADR/10 (9AA0) | $2.77 Billion | 7.93% | 3.33x | $16.88 Billion |
| TRANSTEMA GROUP AB O.N. (9G8) | $558.70 Million | 23.64% | 2.07x | $12.20 Million |
| Advanced Info Service Public Company Limited (AISF) | $81.82 Billion | 32.90% | 3.35x | $97.12K |
| Verizon Communications Inc. (BAC) | $17.84 Billion | 100.21% | 12.69x | $174.74 Billion |
About Turkcell Iletisim Hizmetleri A.S
Turkcell Iletisim Hizmetleri A.S., together with its subsidiaries, provides converged telecommunication and technology services in Turkey, Belarus, Turkish Republic of Northern Cyprus, and the Netherlands. It operates through the Turkcell Turkiye, Turkcell International, and Techfin segments. The company offers voice services; international roaming services; mobile services, including wholesale I… Read more