Turkcell Iletisim Hizmetleri A.S (TKC) Balance Sheet

NYSE: TKCAssets, liabilities, debt and equity over 10 years.

TKC balance sheet, 2025

December 31, 2025 · TRY

₺12.07B assets = ₺6.03B liabilities + ₺6.04B equity

Both columns are drawn to the same scale: what TKC owns equals what it owes plus shareholders’ equity. Hover a block for its value.

TKC financial health

Current ratio1.70

Comfortable · current assets cover current liabilities 1.70×

Debt / equity0.61

Moderate leverage · ₺0.61 of debt for each $1 of equity

Equity / assets50.0%

Equity-funded · of assets funded by shareholders

Cash / debt67.4%

Partial cover · cash & short-term investments vs total debt

Goodwill & intangibles20.2%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

TKC balance sheet trends, 2016–2025

Turkcell Iletisim Hizmetleri A.S balance sheet trends
Metric	Then	Latest	Change
Total assets	₺31.60B2016	₺12.07B2025	−10.1%/yr
Total liabilities	₺15.53B2016	₺6.03B2025	−10.0%/yr
Shareholders’ equity	₺16.01B2016	₺6.04B2025	−10.3%/yr
Cash & short-term investments	₺6.05B2016	₺2.49B2025	−9.4%/yr
Total debt	₺9.78B2016	₺3.69B2025	−10.3%/yr
Net cash (debt)	−₺3.73B2016	−₺1.21B2025	+₺2.5B
Working capital	₺5.99B2016	₺1.50B2025	−₺4.5B
Current ratio	1.812016	1.702025	−0.11
Debt / equity	0.612016	0.612025	0.00
Shares outstanding	877.3M2016	871.4M2025	−0.1%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

TKC assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

TKC liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

TKC debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

TKC balance sheet in TRY

Turkcell Iletisim Hizmetleri A.S annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	₺2.49B	₺75.82B	₺84.96B	₺50.66B	₺30.69B	₺1.69B	₺1.78B	₺7.47B	₺4.72B	₺6.05B
Cash & equivalents	₺2.16B	₺68.93B	₺72.16B	₺42.78B	₺30.60B	₺1.60B	₺1.72B	₺7.42B	₺4.71B	₺6.05B
Short-term investments	₺329.6M	₺6.88B	₺12.81B	₺7.88B	₺90.9M	₺94.4M	₺59.0M	₺51.9M	₺11.3M	₺391.0M
Receivables	₺1.00B	₺31.04B	₺31.12B	₺20.81B	₺13.04B	₺898.0M	₺1.25B	₺7.23B	₺6.12B	₺5.07B
Inventory	₺20.9M	₺674.6M	₺780.4M	₺495.0M	₺458.7M	₺27.4M	₺30.0M	₺180.4M	₺104.1M	₺132.0M
Other current assets	₺133.3M	₺6.16B	₺31.19B	₺5.35B	₺4.38B	₺153.8M	₺193.0M	₺3.46B	₺3.12B	₺2.10B
Total current assets	₺3.65B	₺113.69B	₺148.05B	₺77.31B	₺48.57B	₺2.77B	₺3.25B	₺18.34B	₺14.07B	₺13.35B
Property, plant & equipment (net)	₺4.32B	₺119.63B	₺109.36B	₺82.31B	₺52.90B	₺2.27B	₺2.40B	₺12.65B	₺9.68B	₺8.41B
Goodwill & intangible assets	₺2.44B	₺82.62B	₺85.09B	₺62.91B	₺42.36B	₺1.66B	₺1.90B	₺10.38B	₺8.34B	₺8.24B
Long-term investments	₺0	₺23.11B	₺6.52B	₺3.23B	₺2.06B	₺103.9M	₺41.7M	₺19.4M	₺654,000	₺0
Other non-current assets	₺1.66B	₺5.22B	₺7.72B	₺9.23B	₺5.42B	₺306.1M	₺88.2M	₺1.38B	₺1.89B	₺1.60B
Total assets	₺12.07B	₺344.28B	₺356.74B	₺234.99B	₺151.30B	₺7.11B	₺7.68B	₺42.77B	₺33.98B	₺31.60B
Liabilities
Accounts payable	₺759.1M	₺20.36B	₺18.30B	₺11.37B	₺7.58B	₺498.0M	₺459.0M	₺2.37B	₺2.53B	₺1.72B
Short-term debt	₺836.0M	₺51.91B	₺37.74B	₺27.55B	₺14.54B	₺704.0M	₺1.28B	₺7.04B	₺4.28B	₺2.85B
Deferred revenue	₺73.4M	₺2.03B	₺2.25B	₺1.62B	₺1.12B	₺58.1M	₺58.3M	₺264.7M	₺193.8M	₺93.8M
Total current liabilities	₺2.14B	₺90.83B	₺83.35B	₺48.48B	₺28.26B	₺1.56B	₺2.13B	₺11.74B	₺9.22B	₺7.36B
Long-term debt	₺122.73B	₺52.44B	₺83.66B	₺37.13B	₺27.93B	₺16.35B	₺12.68B	₺13.12B	₺8.26B	₺6.94B
Lease obligations	—	₺4.82B	₺2.43B	₺3.06B	₺2.91B	₺2.10B	₺1.53B	₺1.41B	₺122.7M	₺48.1M
Other long-term liabilities	₺0	₺14.04B	₺13.25B	₺40.00B	₺29.74B	₺0	₺0	₺1.85B	₺1.46B	₺1.24B
Total liabilities	₺6.03B	₺157.31B	₺180.25B	₺125.61B	₺85.93B	₺4.31B	₺4.64B	₺26.71B	₺18.94B	₺15.53B
Shareholders' equity
Common stock & paid-in capital	₺51.2M	₺2.20B	₺46.68B	₺32.33B	₺19.62B	₺296.0M	₺369.7M	₺2.20B	₺2.20B	₺2.20B
Retained earnings (deficit)	₺4.53B	₺177.55B	₺125.78B	₺77.39B	₺44.64B	₺2.21B	₺2.22B	₺11.36B	₺11.31B	₺12.78B
Treasury stock	—	—	—	—	−₺128.1M	−₺147.9M	−₺144.2M	−₺141.5M	−₺56.3M	−₺65.6M
Accumulated other comprehensive income	₺123.3M	₺8.50B	₺5.09B	₺353.8M	₺1.49B	₺310.2M	₺462.6M	₺2.47B	₺1.50B	₺1.06B
Minority interest	—	₺0	−₺18.7M	₺6.4M	−₺337,000	—	₺0	₺0	₺0	₺0
Total shareholders' equity	₺6.04B	₺186.97B	₺176.50B	₺109.37B	₺65.37B	₺2.80B	₺3.03B	₺15.92B	₺14.99B	₺16.01B
Key figures
Total debt	₺3.69B	₺104.34B	₺121.40B	₺88.74B	₺60.42B	₺2.90B	₺3.41B	₺20.16B	₺12.54B	₺9.78B
Net cash (debt)	−₺1.21B	−₺28.52B	−₺36.43B	−₺38.08B	−₺29.72B	−₺1.21B	−₺1.63B	−₺12.68B	−₺7.81B	−₺3.73B
Working capital	₺1.50B	₺22.86B	₺64.71B	₺28.84B	₺20.30B	₺1.21B	₺1.12B	₺6.60B	₺4.85B	₺5.99B
Tangible book value	₺3.59B	₺104.35B	₺91.41B	₺46.47B	₺23.01B	₺1.13B	₺1.13B	₺5.54B	₺6.65B	₺7.78B
Shares outstanding	871.4M	872.4M	872.8M	873.2M	873.2M	876.9M	873.6M	873.9M	877.3M	877.3M
Current ratio	1.70	1.25	1.78	1.59	1.72	1.78	1.53	1.56	1.53	1.81
Quick ratio	1.63	1.18	1.39	1.47	1.55	1.66	1.42	1.25	1.18	1.51
Debt / equity	0.61	0.56	0.69	0.81	0.92	1.04	1.13	1.27	0.84	0.61
Equity / assets	50.0%	54.3%	49.5%	46.5%	43.2%	39.3%	39.5%	37.2%	44.1%	50.7%

Turkcell Iletisim Hizmetleri A.S quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	₺116.01B	₺120.59B	₺2.49B	₺136.96B	₺127.07B	₺113.88B	₺77.86B	₺87.69B	₺59.43B	₺59.06B	₺59.63B	₺1.94B
Cash & equivalents	₺89.57B	₺96.00B	₺2.16B	₺122.35B	₺116.60B	₺108.42B	₺68.93B	₺81.01B	₺50.19B	₺48.78B	₺50.76B	₺1.45B
Short-term investments	₺26.44B	₺24.59B	₺329.6M	₺14.62B	₺10.47B	₺5.46B	₺3.31B	₺6.68B	₺9.24B	₺10.28B	₺8.87B	₺488.8M
Receivables	₺51.64B	₺47.07B	₺1.00B	₺38.16B	₺35.86B	₺33.49B	₺29.05B	₺28.22B	₺26.91B	₺23.77B	₺22.05B	₺703.5M
Inventory	₺902.3M	₺830.2M	₺20.9M	₺818.9M	₺731.2M	₺841.9M	₺674.6M	₺745.1M	₺697.5M	₺593.6M	₺540.5M	₺21.7M
Other current assets	₺12.60B	₺16.31B	₺133.3M	₺9.97B	₺10.26B	₺10.64B	₺6.11B	₺7.50B	₺25.87B	₺26.01B	₺20.32B	₺228.3M
Total current assets	₺181.15B	₺184.79B	₺3.65B	₺185.91B	₺173.92B	₺158.85B	₺113.69B	₺124.15B	₺112.90B	₺109.43B	₺102.55B	₺2.89B
Property, plant & equipment (net)	₺223.15B	₺202.01B	₺4.32B	₺152.50B	₺139.92B	₺129.48B	₺114.80B	₺100.75B	₺91.76B	₺84.24B	₺72.79B	₺1.17B
Goodwill & intangible assets	₺180.23B	₺172.12B	₺2.44B	₺108.74B	₺102.89B	₺90.58B	₺81.87B	₺76.52B	₺71.01B	₺66.90B	₺58.51B	₺891.5M
Long-term investments	₺56.54B	₺41.93B	₺0	₺28.41B	₺24.48B	₺25.16B	₺23.11B	₺15.41B	₺13.17B	₺11.57B	₺6.52B	₺3.43B
Other non-current assets	₺20.98B	₺18.74B	₺1.66B	₺15.87B	₺16.17B	₺14.06B	₺10.80B	₺9.84B	₺10.88B	₺10.11B	₺12.33B	₺0
Total assets	₺662.05B	₺619.60B	₺12.07B	₺491.42B	₺457.38B	₺418.12B	₺344.28B	₺326.66B	₺299.71B	₺282.26B	₺252.69B	₺5.44B
Liabilities
Accounts payable	₺48.71B	₺50.24B	₺759.1M	₺32.63B	₺31.43B	₺29.17B	₺21.32B	₺23.96B	₺13.43B	₺18.74B	₺12.68B	₺357.8M
Short-term debt	₺37.19B	₺38.37B	₺836.0M	₺62.66B	₺59.44B	₺55.95B	₺51.91B	₺35.69B	₺35.16B	₺32.87B	₺26.14B	₺1.03B
Deferred revenue	₺7.49B	₺3.78B	₺73.4M	₺2.92B	₺2.86B	₺2.37B	—	₺2.08B	₺1.87B	₺1.79B	₺1.56B	₺49.1M
Total current liabilities	₺121.50B	₺109.21B	₺2.14B	₺105.97B	₺102.65B	₺92.01B	₺90.83B	₺68.23B	₺72.13B	₺61.59B	₺57.73B	₺1.73B
Long-term debt	₺162.37B	₺155.67B	₺122.73B	₺118.62B	₺113.42B	₺94.76B	₺52.44B	₺71.04B	₺62.26B	₺63.38B	₺56.29B	₺52.48B
Lease obligations	₺16.60B	₺16.23B	—	₺39.34B	₺37.01B	₺6.41B	₺4.82B	₺3.89B	₺3.05B	₺3.20B	₺2.43B	₺4.15B
Other long-term liabilities	₺67.60B	₺63.13B	₺0	₺23.80B	₺21.61B	₺21.51B	₺14.04B	₺12.92B	₺13.03B	₺13.84B	₺16.44B	₺0
Total liabilities	₺351.48B	₺328.01B	₺6.03B	₺248.39B	₺237.68B	₺208.29B	₺157.31B	₺152.19B	₺147.42B	₺138.81B	₺130.46B	₺3.95B
Shareholders' equity
Common stock & paid-in capital	₺2.21B	₺2.21B	₺51.2M	₺58.56B	₺54.47B	₺51.38B	₺2.20B	₺43.93B	₺40.33B	₺37.21B	₺2.20B	₺80.2M
Retained earnings (deficit)	₺231.35B	₺219.49B	₺4.53B	₺183.20B	₺165.38B	₺159.86B	₺177.55B	₺130.25B	₺107.42B	₺102.88B	₺87.12B	₺1.34B
Accumulated other comprehensive income	₺9.12B	₺6.75B	₺123.3M	₺2.86B	₺1.33B	₺55.5M	₺8.50B	₺1.54B	₺5.42B	₺4.22B	₺3.53B	₺82.8M
Minority interest	—	—	—	—	—	₺0	—	—	—	—	—	—
Total shareholders' equity	₺310.57B	₺291.59B	₺6.04B	₺243.03B	₺219.71B	₺209.83B	₺186.97B	₺174.48B	₺152.31B	₺143.46B	₺122.25B	₺1.49B
Key figures
Total debt	₺212.76B	₺206.83B	₺3.69B	₺181.28B	₺172.86B	₺150.71B	₺104.34B	₺106.73B	₺99.19B	₺98.05B	₺84.08B	₺3.04B
Net cash (debt)	−₺96.75B	−₺86.24B	−₺1.21B	−₺44.32B	−₺45.79B	−₺36.83B	−₺26.48B	−₺19.04B	−₺39.77B	−₺38.99B	−₺24.45B	−₺1.11B
Working capital	₺59.65B	₺75.58B	₺1.50B	₺79.94B	₺71.27B	₺66.84B	₺22.86B	₺55.92B	₺40.77B	₺47.84B	₺44.82B	₺1.16B
Tangible book value	₺130.34B	₺119.47B	₺3.59B	₺134.29B	₺116.81B	₺119.26B	₺105.09B	₺97.96B	₺81.31B	₺76.57B	₺63.74B	₺603.1M
Shares outstanding	868.7M	870.3M	832.0M	870.6M	870.6M	874.4M	871.2M	872.1M	873.5M	873.2M	872.8M	873.0M
Current ratio	1.49	1.69	1.70	1.75	1.69	1.73	1.25	1.82	1.57	1.78	1.78	1.67
Quick ratio	1.38	1.54	1.63	1.65	1.59	1.60	1.18	1.70	1.20	1.34	1.41	1.53
Debt / equity	0.69	0.71	0.61	0.75	0.79	0.72	0.56	0.61	0.65	0.68	0.69	2.04
Equity / assets	46.9%	47.1%	50.0%	49.5%	48.0%	50.2%	54.3%	53.4%	50.8%	50.8%	48.4%	27.5%

Quarterly columns are labeled by the month the quarter ended. Figures in TRY as reported (latest annual report filed April 17, 2026); data from EODHD.

TKC financial position

At the end of fiscal 2025 (December 31, 2025), Turkcell Iletisim Hizmetleri A.S had total assets of ₺12.1 billion (down 96.5% from a year earlier), total liabilities of ₺6.0 billion and shareholders' equity of ₺6.0 billion. It held ₺2.5 billion in cash and short-term investments against ₺3.7 billion of debt, net debt of ₺1.2 billion. Its current ratio was 1.70. In the latest quarter (ended June 30, 2026) total assets were ₺662.0 billion and equity ₺310.6 billion.

Related: TKC income statement, TKC cash flow statement, TKC key metrics. See the TKC stock overview for the latest quote and news.

TKC balance sheet FAQ

What are Turkcell Iletisim Hizmetleri A.S's total assets?

Turkcell Iletisim Hizmetleri A.S reported total assets of ₺12.1 billion at the end of fiscal 2025 (December 31, 2025), compared with ₺344.3 billion a year earlier.

How much debt does Turkcell Iletisim Hizmetleri A.S have?

Turkcell Iletisim Hizmetleri A.S had ₺3.7 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.61.

How much cash does Turkcell Iletisim Hizmetleri A.S have?

Turkcell Iletisim Hizmetleri A.S held ₺2.5 billion in cash and short-term investments at the end of fiscal 2025; with ₺3.7 billion of debt that is net debt of ₺1.2 billion.

What is Turkcell Iletisim Hizmetleri A.S's book value?

Turkcell Iletisim Hizmetleri A.S's shareholders' equity (book value) was ₺6.0 billion at the end of fiscal 2025.

What is Turkcell Iletisim Hizmetleri A.S's current ratio?

Turkcell Iletisim Hizmetleri A.S had current assets of ₺3.6 billion and current liabilities of ₺2.1 billion, a current ratio of 1.70 (it can cover its short-term obligations).

How much goodwill does Turkcell Iletisim Hizmetleri A.S have?

Turkcell Iletisim Hizmetleri A.S carried ₺2.4 billion of goodwill and intangible assets, 20.2% of total assets, at the end of fiscal 2025.