Ulker Biskuvi Sanayi AS

IS:ULKER Turkey Confectioners
Market Cap
$1.16 Billion
TL41.25 Billion TRY
Market Cap Rank
#9304 Global
#48 in Turkey
Share Price
TL111.70
Change (1 day)
+2.29%
52-Week Range
TL99.00 - TL139.10
All Time High
TL187.30
Categories
Companies in Turkey Confectioners
About

Ülker Bisküvi Sanayi A.S., together with its subsidiaries, manufactures, markets, and sells biscuits, chocolates, chocolate coated biscuits, wafers, and cakes in Turkey and internationally. The company also offers spread chocolate, crackers, Bebe biscuits, light snacks, gum, gift chocolates and candies, kid's snacks, and food supplements. It is also involved in trading, investment, and consultanc… Read more

Ulker Biskuvi Sanayi AS (ULKER) - Net Assets

Latest net assets as of September 2025: TL42.58 Billion TRY

Based on the latest financial reports, Ulker Biskuvi Sanayi AS (ULKER) has net assets worth TL42.58 Billion TRY as of September 2025.

Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (TL129.21 Billion) and total liabilities (TL86.63 Billion). 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.

Key Net Assets Metrics

Metric Value
Current Net Assets TL42.58 Billion
% of Total Assets 32.96%
Annual Growth Rate 22.19%
5-Year Change 417.12%
10-Year Change 1981.36%
Growth Volatility 40.19

Ulker Biskuvi Sanayi AS - Net Assets Trend (2003–2024)

This chart illustrates how Ulker Biskuvi Sanayi AS's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.

Annual Net Assets for Ulker Biskuvi Sanayi AS (2003–2024)

The table below shows the annual net assets of Ulker Biskuvi Sanayi AS from 2003 to 2024.

Year Net Assets Change
2024-12-31 TL33.48 Billion +69.05%
2023-12-31 TL19.80 Billion +157.75%
2022-12-31 TL7.68 Billion +78.09%
2021-12-31 TL4.31 Billion -33.36%
2020-12-31 TL6.47 Billion +31.20%
2019-12-31 TL4.93 Billion +34.09%
2018-12-31 TL3.68 Billion +36.49%
2017-12-31 TL2.70 Billion +45.36%
2016-12-31 TL1.85 Billion +15.31%
2015-12-31 TL1.61 Billion +30.77%
2014-12-31 TL1.23 Billion -3.01%
2013-12-31 TL1.27 Billion +17.45%
2012-12-31 TL1.08 Billion -1.59%
2011-12-31 TL1.10 Billion -28.15%
2010-12-31 TL1.53 Billion +28.65%
2009-12-31 TL1.19 Billion +57.52%
2008-12-31 TL753.64 Million -0.86%
2007-12-31 TL760.21 Million +32.53%
2006-12-31 TL573.62 Million -3.89%
2005-12-31 TL596.86 Million +7.72%
2004-12-31 TL554.08 Million +11.38%
2003-12-31 TL497.47 Million --

Equity Component Analysis

This analysis shows how different components contribute to Ulker Biskuvi Sanayi AS'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 18291.6% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component Amount Percentage
Retained Earnings TL20.19 Billion 64.54%
Other Components TL11.09 Billion 35.46%
Total Equity TL31.28 Billion 100.00%

Ulker Biskuvi Sanayi AS Competitors by Market Cap

The table below lists competitors of Ulker Biskuvi Sanayi AS ranked by their market capitalization.

Company Market Cap
Jyoti CNC Automation Limited
NSE:JYOTICNC
 		$613.77 Million
Jiangxi Bestoo Energy Co Ltd
SHE:001376
 		$613.88 Million
Haian Rubber Grp Co Ltd
SHE:001233
 		$613.93 Million
Dezhan HealthCare Co Ltd
SHE:000813
 		$614.30 Million
Genesis Energy Ltd
AU:GNE
 		$613.74 Million
Jiangsu Tongguang Electronic Wire&Cable Co Ltd
SHE:300265
 		$613.70 Million
SATS ASA NK 2125
F:2S0
 		$613.52 Million
Syarikat Takaful Malaysia Bhd
KLSE:6139
 		$613.36 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Ulker Biskuvi Sanayi AS's equity between the two most recent reporting periods.

Equity Growth Insights

  • From 2023 to 2024, total equity changed from 17,971,432,000 to 31,282,767,000, a change of 13,311,335,000 (74.1%).
  • Net income of 7,400,518,000 contributed positively to equity growth.
  • Dividend payments of 364,771,000 reduced retained earnings.
  • Other factors increased equity by 6,275,588,000.

Equity Change Factors (2023 to 2024)

Factor Impact Contribution
Net Income TL7.40 Billion +23.66%
Dividends Paid TL364.77 Million -1.17%
Other Changes TL6.28 Billion +20.06%
Total Change TL- 74.07%

Book Value vs Market Value Analysis

This analysis compares Ulker Biskuvi Sanayi AS'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: 1.32x
  • The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
  • The price-to-book ratio has decreased from 15.74x to 1.32x 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 TL7.10 TL111.70 x
2018-12-31 TL9.64 TL111.70 x
2019-12-31 TL12.90 TL111.70 x
2020-12-31 TL16.65 TL111.70 x
2021-12-31 TL8.73 TL111.70 x
2022-12-31 TL16.63 TL111.70 x
2023-12-31 TL48.67 TL111.70 x
2024-12-31 TL84.71 TL111.70 x

Capital Efficiency Dashboard

This dashboard shows how efficiently Ulker Biskuvi Sanayi AS 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): 23.66%
  • The company demonstrates strong efficiency in generating profits from shareholder equity.
  • DuPont Analysis Breakdown:
  • • Net Profit Margin: 8.80%
  • • Asset Turnover: 0.86x
  • • Equity Multiplier: 3.11x
  • Recent ROE (23.66%) is above the historical average (15.80%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year Return on Equity Net Profit Margin Asset Turnover Equity Multiplier Economic Value Added
2003 10.52% 2.59% 1.84x 2.21x TL2.42 Million
2004 10.75% 3.34% 1.46x 2.21x TL3.89 Million
2005 11.94% 5.12% 1.06x 2.20x TL10.78 Million
2006 16.57% 4.96% 1.77x 1.89x TL35.23 Million
2007 16.21% 7.98% 1.05x 1.94x TL44.44 Million
2008 2.22% 1.11% 0.70x 2.88x TL-54.91 Million
2009 9.14% 6.63% 0.57x 2.42x TL-9.65 Million
2010 12.67% 12.13% 0.53x 1.98x TL38.96 Million
2011 65.53% 36.53% 0.67x 2.66x TL556.76 Million
2012 17.44% 7.13% 0.74x 3.30x TL71.22 Million
2013 16.70% 6.86% 0.87x 2.80x TL75.67 Million
2014 18.61% 7.32% 0.91x 2.80x TL97.95 Million
2015 20.89% 7.70% 0.73x 3.72x TL152.26 Million
2016 13.97% 5.87% 0.71x 3.35x TL65.45 Million
2017 15.78% 7.96% 0.58x 3.43x TL140.42 Million
2018 21.26% 11.77% 0.56x 3.24x TL371.16 Million
2019 20.52% 11.60% 0.61x 2.90x TL464.17 Million
2020 17.85% 10.81% 0.53x 3.14x TL447.05 Million
2021 -15.55% -3.70% 0.48x 8.79x TL-763.00 Million
2022 -6.21% -1.25% 0.74x 6.66x TL-921.69 Million
2023 27.15% 6.05% 1.31x 3.43x TL3.08 Billion
2024 23.66% 8.80% 0.86x 3.11x TL4.27 Billion

Industry Comparison

This section compares Ulker Biskuvi Sanayi AS's net assets metrics with peer companies in the Confectioners industry.

Industry Context

  • Industry: Confectioners
  • Average net assets among peers: $24,423,490,049,776
  • Average return on equity (ROE) among peers: 15.33%

Peer Company Comparison

Company Net Assets Return on Equity Debt-to-Equity Market Cap
Ulker Biskuvi Sanayi AS (ULKER) TL42.58 Billion 10.52% 2.03x $613.76 Million
Bor Seker As (BORSK) $2.65 Billion 32.60% 0.43x $12.43 Million
Kayseri Seker Fabrikasi AS (KAYSE) $24.05 Billion 28.13% 0.50x $37.35 Million
Kent Gida Maddeleri Sanayi ve Ticaret AS (KENT) $146.51 Trillion 17.29% 0.45x $953.15 Million
Kervan Gıda Sanayi Ve Ticaret As (KRVGD) $5.47 Billion -1.63% 1.30x $20.90 Million
Kutahya Seker Fabrikasi AS (KTSKR) $89.05 Million 20.85% 0.81x $9.23 Million
Oylum Sinai Yatirimlar AS (OYLUM) $12.36 Million -5.26% 1.24x $13.49 Million