Is the business good?
How good a business is TKC?
Turkcell Iletisim Hizmetleri A.S. earns 4.2% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
4.2%
Return on invested capital · cost of capital 9.0% · 4.8 points below what the capital costs: growth destroys value
- Operating margin
- 7.3%
Operating margin · Telecom Services median 11% · fiscal year to FY2023
- Cash conversion
- 2.19×
Cash conversion · 3.91× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −0.05%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2018 | 20% |
| FY2019 | 20% |
| FY2020 | 13% |
| FY2021 | 11% |
| FY2022 | 3.2% |
| FY2023 | 7.3% |
Details›
- Gross marginfiscal year to FY2023
- 21%
- Operating marginfiscal year to FY2023
- 7.3%
- Net marginfiscal year to FY2023
- 12%
- Free cash flow margin
- 26%
- R&D as % of revenue
- 0.12%
- Revenue, trailing twelve months
- $107.1B
- Free cash flow, trailing twelve months
- $27.5B
- Net income, trailing twelve months
- $12.6B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 4.2%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.