Turkcell Iletisim Hizmetleri A.S (TKC) Key Metrics
TKC key metrics, 2016–2025
Fiscal year ended December 31, 2025 · TRYTKC returns How much profit the business earns on the capital it uses.
TKC financial health Debt, liquidity and how easily interest is covered.
TKC efficiency & capital use Working capital cycle and where the cash goes.
TKC returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TKC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TKC cash returned to shareholders
TKC key metrics in TRY
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 18.2% | 12.9% | 8.8% | 11.4% | 20.9% | 154.5% | 34.3% | 13.1% | 12.8% | 9.8% |
| Return on invested capital (ROIC) | 19.6% | 11.4% | 4.3% | 3.5% | 21.4% | 172.2% | 23.0% | 13.8% | 10.8% | 13.7% |
| Return on assets (ROA) | 9.9% | 6.7% | 4.2% | 5.1% | 9.0% | 60.9% | 12.9% | 5.3% | 6.0% | 5.2% |
| Return on tangible assets | 182.9% | 9.0% | 4.6% | 5.8% | 6.5% | 82.7% | 56.2% | 6.2% | 7.7% | 6.4% |
| Free cash flow margin | 30.6% | 26.6% | 16.5% | 8.2% | 9.3% | 7.6% | 12.0% | 1.9% | −5.7% | −21.2% |
| Income quality (OCF / net income) | 6.91 | 3.19 | 4.80 | 2.53 | 2.80 | 2.91 | 2.78 | 2.88 | 1.57 | 0.41 |
| Financial health | ||||||||||
| Total debt | ₺3.69B | ₺104.34B | ₺121.40B | ₺88.74B | ₺60.42B | ₺2.90B | ₺3.41B | ₺20.16B | ₺12.54B | ₺9.78B |
| Cash & short-term investments | ₺2.49B | ₺75.82B | ₺84.96B | ₺50.66B | ₺30.69B | ₺1.69B | ₺1.78B | ₺7.47B | ₺4.72B | ₺6.05B |
| Net debt | ₺1.21B | ₺28.52B | ₺36.43B | ₺38.08B | ₺29.72B | ₺1.21B | ₺1.63B | ₺12.68B | ₺7.81B | ₺3.73B |
| Debt / equity | 0.61 | 0.56 | 0.69 | 0.81 | 0.92 | 1.04 | 1.13 | 1.27 | 0.84 | 0.61 |
| Debt / assets | 0.31 | 0.30 | 0.34 | 0.38 | 0.40 | 0.41 | 0.44 | 0.47 | 0.37 | 0.31 |
| Net debt / EBITDA | 0.01 | 0.35 | 0.49 | 0.62 | 0.68 | 0.05 | 0.18 | 1.69 | 1.34 | 0.80 |
| Current ratio | 1.70 | 1.25 | 1.78 | 1.59 | 1.72 | 1.78 | 1.53 | 1.56 | 1.53 | 1.81 |
| Quick ratio | 1.69 | 1.24 | 1.77 | 1.58 | 1.70 | 1.76 | 1.51 | 1.55 | 1.51 | 1.80 |
| Interest coverage | 100.4 | 3.1 | 0.9 | 0.7 | 4.3 | 59.2 | 24.9 | 5.4 | 4.4 | 7.0 |
| Working capital | ₺1.50B | ₺22.86B | ₺64.71B | ₺28.84B | ₺20.30B | ₺1.21B | ₺1.12B | ₺6.60B | ₺4.85B | ₺5.99B |
| Invested capital | ₺7.24B | ₺215.49B | ₺212.93B | ₺147.45B | ₺95.09B | ₺4.01B | ₺4.67B | ₺28.61B | ₺22.80B | ₺19.74B |
| Tangible asset value | ₺3.59B | ₺104.35B | ₺91.39B | ₺46.47B | ₺23.01B | ₺1.13B | ₺1.14B | ₺5.67B | ₺6.70B | ₺7.83B |
| Net current asset value | −₺2.39B | −₺43.62B | −₺32.20B | −₺48.30B | −₺37.37B | −₺1.54B | −₺1.39B | −₺8.37B | −₺4.87B | −₺2.18B |
| Capital allocation | ||||||||||
| Dividends paid | ₺9.75B | ₺7.31B | ₺3.59B | ₺1.25B | ₺2.59B | ₺811.6M | ₺1.01B | ₺1.90B | ₺2.99B | ₺51.4M |
| Share buybacks (net) | ₺279.5M | ₺328.0M | ₺50.8M | ₺33.9M | ₺858,000 | ₺10.0M | ₺10.0M | ₺94.6M | ₺0 | ₺65.6M |
| Dividend payout ratio | 55.4% | 31.1% | 28.6% | 12.6% | 36.2% | 18.0% | 31.1% | 94.0% | 151.1% | 3.4% |
| Dividends + buybacks / free cash flow | 13.6% | 17.2% | 20.6% | 11.6% | 25.7% | 15.5% | 33.9% | 499.3% | — | — |
| Capex / revenue | 19.8% | 18.4% | 39.8% | 10.4% | 9.1% | 11.2% | 23.9% | 25.5% | 23.3% | 25.5% |
| Capex / operating cash flow | 39.2% | 40.9% | 70.7% | 56.0% | 49.5% | 59.4% | 66.6% | 93.1% | 132.5% | 599.1% |
| Capex / depreciation | 0.75 | 0.65 | 0.67 | 1.52 | 1.36 | 1.30 | 1.19 | 1.27 | 1.58 | 1.65 |
| Stock-based compensation / revenue | — | 0.8% | 0.3% | — | 8.6% | 1.9% | −5.3% | 0.1% | 0.1% | −1.7% |
| R&D / revenue | 0.2% | 0.2% | 0.1% | 0.1% | 0.0% | 0.1% | 0.2% | 0.2% | 0.2% | 0.2% |
| SG&A / revenue | 11.1% | 4.1% | 8.4% | 7.6% | 7.2% | 7.2% | 9.2% | 10.7% | 14.7% | 16.8% |
| Efficiency | ||||||||||
| Days sales outstanding | 24.2 | 68.1 | 88.5 | 45.8 | 23.4 | 5.6 | 61.5 | 114.4 | 115.8 | 127.8 |
| Days of inventory on hand | 0.7 | 2.1 | 2.8 | 1.5 | 1.0 | 0.2 | 2.2 | 3.7 | 3.8 | 4.1 |
| Days payables outstanding | 22.3 | 56.2 | 64.1 | 29.3 | 17.1 | 3.3 | 30.2 | 63.2 | 68.3 | 64.7 |
| Cash conversion cycle (days) | 2.6 | 14.0 | 27.1 | 17.9 | 7.3 | 2.5 | 33.5 | 54.9 | 51.3 | 67.2 |
| Receivables turnover | 15.07 | 5.36 | 4.13 | 7.97 | 15.59 | 64.83 | 5.93 | 3.19 | 3.15 | 2.86 |
| Payables turnover | 16.35 | 6.49 | 5.69 | 12.45 | 21.32 | 111.00 | 12.07 | 5.77 | 5.35 | 5.64 |
| Inventory turnover | 496.48 | 172.53 | 132.38 | 247.31 | 354.38 | 1,851.01 | 162.38 | 99.43 | 96.16 | 89.05 |
| Asset turnover | 1.36 | 0.48 | 0.36 | 0.70 | 1.37 | 9.40 | 1.00 | 0.55 | 0.54 | 0.49 |
| Average receivables | ₺16.02B | ₺31.08B | ₺25.97B | ₺16.93B | ₺6.97B | ₺1.07B | ₺4.24B | ₺6.67B | ₺5.59B | ₺5.00B |
| Average payables | ₺10.56B | ₺19.33B | ₺14.83B | ₺9.47B | ₺4.04B | ₺478.5M | ₺1.42B | ₺2.45B | ₺2.12B | ₺1.64B |
| Average inventory | ₺347.8M | ₺727.5M | ₺637.7M | ₺476.9M | ₺243.1M | ₺28.7M | ₺105.2M | ₺142.3M | ₺118.0M | ₺103.7M |
| Intangibles / total assets | 20.2% | 24.0% | 23.9% | 26.8% | 28.0% | 23.4% | 24.7% | 24.3% | 24.5% | 26.1% |
Computed from TKC's annual financial statements (latest annual report filed April 17, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in TRY; data from EODHD. Averages use the opening and closing balance of each year.
TKC valuation and financial ratios
Turkcell Iletisim Hizmetleri A.S earned a return on equity of 18.2% and a return on invested capital of 19.6% in fiscal 2025. It ended the year with ₺3.7 billion of debt and ₺2.5 billion in cash and short-term investments, net debt of ₺1.2 billion. It returned ₺10.0 billion to shareholders: ₺9.8 billion in dividends and ₺279.5 million in share buybacks, 14% of free cash flow.
See the TKC income statement, the TKC chart for price history, or the TKC stock overview for the latest quote and news.
TKC key metrics FAQ
What is Turkcell Iletisim Hizmetleri A.S's return on equity?
Turkcell Iletisim Hizmetleri A.S's return on equity (ROE) was 18.2% in fiscal 2025: net income of ₺17.6 billion on average shareholders' equity of ₺96.5 billion.
What is Turkcell Iletisim Hizmetleri A.S's ROIC?
Turkcell Iletisim Hizmetleri A.S's return on invested capital was 19.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Turkcell Iletisim Hizmetleri A.S have?
Turkcell Iletisim Hizmetleri A.S had total debt of ₺3.7 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.61 and ₺1.2 billion of net debt (0.01 times EBITDA).
Does Turkcell Iletisim Hizmetleri A.S buy back its shares?
Yes. Turkcell Iletisim Hizmetleri A.S spent ₺279.5 million on net share repurchases in fiscal 2025.
What is Turkcell Iletisim Hizmetleri A.S's current ratio?
Turkcell Iletisim Hizmetleri A.S's current ratio was 1.70 at the end of fiscal 2025: current assets were 1.70 times current liabilities.