Turkcell Iletisim Hizmetleri AS (TKC) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Turkcell Iletisim Hizmetleri AS stock $0.64, price $4.57, that is 86.0% below the price, quality 58 out of 100. Rating: strongly overvalued. Calculated from audited financials with 23 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range $2.04 – $7.37 · fair‑value band $0.4600 – $0.8400 · the $4.57 price screens above the $0.6400 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Turkcell Iletisim Hizmetleri A.S., together with its subsidiaries, engages in establishing and operating a global system for mobile communications (GSM) network in Turkey, Belarus, Turkish Republic of Northern Cyprus, Germany, and the Netherlands.
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It operates through the Turkcell Turkiye, Turkcell International, and Techfin segments.
The company is involved in information technology, value added GSM, and entertainment investment, as well as research and development, digital and insurance agency, property investments, electricity energy trade, and wholesale and retail electricity sales activities.
It also provides telecommunications, television, and content; digitalization; sales, delivery, and digital sales; consumer financing; cloud solutions; online radio, television, and on-demand streaming; telecommunications infrastructure; electronic payment; and develop software products and services.
In addition, the company offers customer relations and human resources management; directory assistance; payment services and e-money; internet search engine and browser; venture capital investment fund; meal coupons and cards; data processing; data center and cloud; programming and technical support; and digital education services.
Further, it provides training software developers. Turkcell Iletisim Hizmetleri A.S. was incorporated in 1993 and is headquartered in Istanbul, Turkey.
Stock analysis
Turkcell Iletisim Hizmetleri AS (TKC) currently trades at $4.57, while our model-based Fair Value estimate is $0.6400, 86% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of $4.02 per share, and 10 of the 23 models we run sit above the $4.57 price.
Bear case: the Economic Profit group reads lowest at $0.1200, and 13 of the 23 models stay below the price. Data coverage for this calculation is low.
Scenario range: $0.4600 (bear) to $0.8400 (bull), the price of $4.57 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 58/100 (solid quality), in the Communication Services sector.
Mixed Growth: Spin-off in 2006: revenue and profit before it include the divested business. Growth is measured afresh from 2006.
Turkcell Iletisim Hizmetleri AS reported revenue of 6.1B TRY in FY2025 versus 109B TRY in FY2021, a compound −51.3%/yr. Reported net income was 445M TRY in FY2025, compounding −50.0%/yr from FY2021.
Key figures
Market cap $4.0B Mid · P/E ratio 8.6 · P/S ratio 0.63 · EPS (TTM) $0.5300 · Dividend yield 3.7% · Net margin 7.3% · Return on equity 6.8% · Return on assets (EBIT) 6.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (medium confidence).
What moves the price
The share trades about 36% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 51% fair-value upside, at −86%, TKC screens richer than that median.
Fair Value models
Bear$0.4600Fair Value $0.6400Bull$0.8400
Price $4.57 · Downside -86.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($0.4545 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.55/100
Spin-off in 2006: revenue and profit before it include the divested business. Growth is measured afresh from 2006.
Revenue growth 1 year
−96.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−64.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−38.5%
Start year 2020 (pandemic). Over 10 years: −7.1% a year
Revenue growth 19 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−0.4%
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What shareholders gained per year (last 5 years), in TRY ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted. Measured in TRY: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−32.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−36.1%
Dividend (yield on the price)3.7%
Per share before 2006divided by the spin-off factor 1.1861
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−36.8% vs −11.6%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.13% → 17%
News mood ⓘNews mood, the average tone of recent news (95 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Regional telecom operator with moderate moat benefits from digital business and data center expansion yet faces high leverage plus 5G license costs that constrain profitability.
Main risk: Upcoming 5G license payments will require large USD outflows that increase depreciation and financing costs, directly hitting cash flow and margins.
Turkcell is expanding digital business services and data centers while preparing for 6G through new partnerships. At the same time large 5G license installments due in December and May will require hundreds of millions in USD payments that increase depreciation and financing pressure. Our models see it as overvalued. Will revenue quality gains from postpaid subscribers and techfin offset these costs or will profitability stay constrained?
Compare Turkcell Iletisim Hizmetleri AS with another stock
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Telecom Services · 234 stocks
Beats the industry median on 5/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside−86.0% · Bottom 25%
Profitability
Return on equity (12 months)6.8% · Below median
Return on assets3.7% · Above median
Net margin (12 months)7.2% · Above median
Operating margin (12 months)0.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)2.5% · Below median
Dividend yield (12 months)3.7% · Above median
Balance sheet
Debt / equity18.26× · Highest 25%
Valuation Multiplesvs Telecom Services median · lower = cheaper
P/E (12 months)8.6× · Cheapest 25%
PEG4.37× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 44
FUTURE (revenue growth)13· sector 23
PAST (return on equity)27· sector 33
HEALTH (low debt)0· sector 83
DIVIDEND (yield)73· sector 72
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Turkcell Iletisim Hizmetleri AS Fair Value". https://www.fairvalue-calculator.com/stock/TKC
Frequently asked questions
Is Turkcell Iletisim Hizmetleri AS (TKC) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of $0.6400 versus a price of $4.57, about 86% lower (overvalued).
What is the fair value of TKC?
Our model-based fair value for Turkcell Iletisim Hizmetleri AS is $0.6400 (as of Nov 7, 2026), built from audited fundamentals. The current price: $4.57.
What is the quality score of TKC?
Turkcell Iletisim Hizmetleri AS has a Quality Score of 58/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Turkcell Iletisim Hizmetleri AS (TKC)?
Our model-based price target is the fair value of $0.6400 (as of Nov 7, 2026) from 23 valuation models. Cautious scenario $0.4600, optimistic scenario $0.8400. It is a calculation from audited fundamentals, not an analyst target.
What is the Turkcell Iletisim Hizmetleri AS stock forecast for 2026?
Our models put fair value at $0.6400, about 86% lower versus a price of $4.57 (overvalued). Cautious scenario $0.4600, optimistic scenario $0.8400. The calculation is refreshed regularly with new filings.
Does Turkcell Iletisim Hizmetleri AS pay a dividend?
Turkcell Iletisim Hizmetleri AS currently shows a dividend yield of 3.65% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Turkcell Iletisim Hizmetleri AS (TKC) and when is the ex-dividend date?
Turkcell Iletisim Hizmetleri AS has a dividend yield of 3.7%. The next ex-dividend date is Dec 10, 2026, with payment on Dec 17, 2026. A dividend has been paid every year since 2017. Our assessment: Safety not assessed. Payout ratio and cash coverage are not available, so we do not judge how safe this dividend is.
What is the intrinsic value of Turkcell Iletisim Hizmetleri AS (TKC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Turkcell Iletisim Hizmetleri AS it is $0.6400 per share (as of Nov 7, 2026), against a price of $4.57. It is the blended result of 23 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Turkcell Iletisim Hizmetleri AS stock overvalued or undervalued in 2026?
As of Nov 7, 2026, TKC trades above its calculated fair value: price $4.57, fair value $0.6400, a gap of about −86% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TKC?
No. The price is what the market pays today ($4.57); the fair value is what the company's own numbers justify ($0.6400). For Turkcell Iletisim Hizmetleri AS the two are $3.93 per share apart. That gap is exactly why we show both numbers side by side.
How much is Turkcell Iletisim Hizmetleri AS worth?
The market values Turkcell Iletisim Hizmetleri AS at about $4.0B (market capitalisation, as of Nov 7, 2026). Per share that is $4.57; our models calculate a fair value of $0.6400 per share.
What do the bullish and bearish scenarios say about TKC?
Our models span a range for Turkcell Iletisim Hizmetleri AS: cautious scenario $0.4600, base $0.6400, optimistic $0.8400 per share (as of Nov 7, 2026, price $4.57). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TKC?
Turkcell Iletisim Hizmetleri AS trades at a price-to-earnings ratio of 8.6 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $0.6400 is built from several models across several years. Other multiples: PEG 4.4.
What is the PEG ratio of TKC?
The PEG ratio of Turkcell Iletisim Hizmetleri AS is 4.37 (P/E divided by earnings growth, as of Nov 7, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Turkcell Iletisim Hizmetleri AS (TKC)?
Balance-sheet figures for Turkcell Iletisim Hizmetleri AS (as of Nov 7, 2026): return on equity 6.8%, debt of 18.26 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is TKC from its 52-week high?
Turkcell Iletisim Hizmetleri AS trades at $4.57, about 36% below its 52-week high of $7.15 and at the low of $4.57 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $0.6400 is for.
Which stocks are comparable to Turkcell Iletisim Hizmetleri AS?
From the same area (Communication Services) we also value China Mobile Limited, Verizon Communications Inc, T-Mobile US, Inc, AT&T Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Turkcell Iletisim Hizmetleri AS stock attractive at the current price?
The data as of Nov 7, 2026: price $4.57, calculated fair value $0.6400 (−86%), Quality Score 58/100, from 23 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TKC calculated?
We run Turkcell Iletisim Hizmetleri AS through 23 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $0.6400 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Turkcell Iletisim Hizmetleri AS itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Turkcell Iletisim Hizmetleri AS (TKC)?
The closing price on Nov 6, 2026 was $4.57. Our model-based fair value is $0.6400, about 86% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Turkcell Iletisim Hizmetleri AS right now?
The price sits above even our optimistic bull case ($0.8400). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($0.4600 to $0.8400) leaves room in how you read the outcome.
Where does the earnings growth of Turkcell Iletisim Hizmetleri AS (TKC) come from?
Earnings per share at Turkcell Iletisim Hizmetleri AS grew +24.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +24.3 %, EBIT margin −4.9 %, tax rate +3.4 %, residual (interest, one-offs) +1.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Turkcell Iletisim Hizmetleri AS
How large is the market capitalisation of Turkcell Iletisim Hizmetleri AS (TKC)?
The market capitalisation of Turkcell Iletisim Hizmetleri AS is $4.0B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Turkcell Iletisim Hizmetleri AS (TKC)?
The price-to-sales ratio of Turkcell Iletisim Hizmetleri AS is 0.63 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Turkcell Iletisim Hizmetleri AS (TKC)?
Earnings per share at Turkcell Iletisim Hizmetleri AS are $0.5300 (price ÷ EPS = P/E 8.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Turkcell Iletisim Hizmetleri AS (TKC)?
The dividend yield of Turkcell Iletisim Hizmetleri AS is 3.7% (payout 31.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Turkcell Iletisim Hizmetleri AS (TKC)?
The net margin of Turkcell Iletisim Hizmetleri AS is 7.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Turkcell Iletisim Hizmetleri AS (TKC)?
The return on equity (ROE) of Turkcell Iletisim Hizmetleri AS is 6.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Turkcell Iletisim Hizmetleri AS (TKC)?
On an EBIT basis the return on assets of Turkcell Iletisim Hizmetleri AS is 6.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
How fast is revenue growing at Turkcell Iletisim Hizmetleri AS (TKC)?
Revenue at Turkcell Iletisim Hizmetleri AS is growing +2.5% versus a year earlier (3y avg −64.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Turkcell Iletisim Hizmetleri AS (TKC)?
Earnings per share at Turkcell Iletisim Hizmetleri AS are growing −5.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Turkcell Iletisim Hizmetleri AS (TKC) generate?
The free cash flow of Turkcell Iletisim Hizmetleri AS is $73.9B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Turkcell Iletisim Hizmetleri AS (TKC) carry?
The net debt of Turkcell Iletisim Hizmetleri AS is $1.5B (fiscal year 2025, ≈ 0.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 7, 2026