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Türk Telekomünikasyon Anonim Sirketi, (TTKOM) Fair Value & Analysis

Communication Services · TR · Market cap 177B TRY

TT Türk Telekomünikasyon Anonim Sirketi, TTKOM · IS
Price51.00 TRY
Fair Value144.45 TRY
Upside+183.2%
Quality47/100
Expensive Growth
Solidly profitable · 10.8% net margin
Low debt · generates free cash flow
Ranks above peers (12/14)
Moderate moat 57/100
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Evidence: High Range 90.72 TRY – 180.56 TRY Share as image

Fair value as of: Aug 2, 2026

From 25 valuation models · updated today

Share price −15.9% over the past month.

Below-average quality, and the price sits 183% below our fair value.

What matters now

  • The price is below even our cautious bear case (90.72 TRY). The market is more pessimistic than our downside scenario.
  • Solid quality (47/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (90.72 TRY to 180.56 TRY) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

72.90 TRY 5.35 TRY Fair Value 144.45 TRY Apr 2021 Jul 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

60‑month range 5.35 TRY – 72.90 TRY · fair‑value band 90.72 TRY – 180.56 TRY · the 51.00 TRY price screens below the 144.45 TRY fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Türk Telekomünikasyon Anonim Sirketi, (TTKOM) currently trades at 51.00 TRY, while our model-based Fair Value estimate is 144.45 TRY, implying the stock looks roughly 183.2% undervalued today. We read business quality at 47/100 (below-average quality), in the Communication Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Türk Telekomünikasyon Anonim Sirketi, generated revenue of 247B TRY at a net margin of 10.8%. Revenue grew 8.7% year over year. It earns a return on equity of 13.1%. Net debt stands at 52.6B TRY. Fundamentals as of Aug 2, 2026

Our scenario range runs from 90.72 TRY (bear case) to 180.56 TRY (bull case); at 51.00 TRY, the current price sits below that range. The share trades about 33% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 32% fair-value upside, at 183%, TTKOM screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 89.49 TRY 175.28 TRY 348.69 TRY 80
Residual Income 54.44 TRY 62.02 TRY 118.01 TRY 76
Rev-Margin DCF 119.99 TRY 255.33 TRY 515.01 TRY 74
All 25 models by family
DCF Models
FCF DCF 95.79 TRY 156.61 TRY 350.29 TRY 38
5Y Revenue Exit 116.77 TRY 222.12 TRY 443.65 TRY 39
5Y EBITDA Exit 228.22 TRY 447.47 TRY 878.81 TRY 41
5Y P/E Exit 93.15 TRY 220.58 TRY 394.20 TRY 38
10Y Revenue Exit 107.59 TRY 277.40 TRY 394.44 TRY 36
10Y EBITDA Exit 194.41 TRY 517.38 TRY 1,104 TRY 37
10Y P/E Exit 95.86 TRY 226.53 TRY 441.27 TRY 35
Earnings-Based
Graham-Dodd 44.65 TRY 311.37 TRY 436.96 TRY 54
Lynch FV 124.00 TRY 177.15 TRY 230.29 TRY 50
PEG = 1.0 124.00 TRY 177.15 TRY 230.29 TRY 46
EPV 117.95 TRY 139.31 TRY 158.01 TRY 59
Dividend Discount
Gordon GGM 13.00 TRY 27.02 TRY 42.87 TRY 70
DDM Multi-Stage 13.00 TRY 22.79 TRY 28.36 TRY 61
Multiples
P/E Multiple 98.49 TRY 131.32 TRY 164.15 TRY 63
P/S Multiple 83.71 TRY 111.62 TRY 139.52 TRY 58
P/B Multiple 83.71 TRY 111.62 TRY 139.52 TRY 55
EV/EBIT 191.66 TRY 258.97 TRY 326.28 TRY 53
EV/EBITDA 267.06 TRY 359.51 TRY 451.95 TRY 54
EV/Revenue 110.86 TRY 162.76 TRY 214.67 TRY 43
Asset-Based
NCAV (Graham) 30.35 TRY 40.67 TRY 60.70 TRY 50
Growth DCF
Growth DCF 89.49 TRY 175.28 TRY 348.69 TRY 80
Rev-Margin DCF 119.99 TRY 255.33 TRY 515.01 TRY 74
Economic Profit
Residual Income 54.44 TRY 62.02 TRY 118.01 TRY 76
ROIC Compounder 160.69 TRY 255.09 TRY 313.71 TRY 72
Growth Earnings
Growth-Adj P/E 153.33 TRY 219.05 TRY 284.76 TRY 68

Widest divergence: DCF Models (226.53 TRY) versus Dividend Discount (22.79 TRY). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 247B TRY
Revenue growth (YoY) +8.7%
Net margin 10.8%
Return on equity 13.1%
Free cash flow 22.1B TRY FY2025
P/E ratio 6.6
More key figures
Operating margin 20.0%
EPS (TTM) 7.64 TRY
EPS growth (YoY) +55.6%
Net debt 52.6B TRY FY2025

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 51 · Market factors (momentum, volatility) 38

Profitability 43
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 62
Earnings quality: real cash, not paper profit
Fin. Strength 54
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 23
Price trend over the last 3–12 months (market factor)
52W Momentum 16
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Türk Telekomünikasyon Anonim Sirketi, together with its subsidiaries, operates as an integrated telecommunication company in Turkey. The company operates in two segments, Fixed Line and Mobile. The company offers mobile, Internet, phone and TV products and services under the Türk Telekom brand.

Full company description

Türk Telekomünikasyon Anonim Sirketi, together with its subsidiaries, operates as an integrated telecommunication company in Turkey. The company operates in two segments, Fixed Line and Mobile. The company offers mobile, Internet, phone and TV products and services under the Türk Telekom brand. It also provides PSTN and wholesale broadband services; retail internet services, IPTV, satellite TV, Web TV, mobile TV, and smart TV services; convergence technologies; IT solutions; online education software; call center services; project development and corporate venture capital services; electric supply and sales services; combined facilities support services; wholesale data and capacity services; and financial technology services. In addition, the company offers TV broadcasting and VOD services; telecommunications devices; payment and e-money services; and web portal and computer programming services. The company was founded in 1840 and is headquartered in Ankara, Turkey. Türk Telekomünikasyon Anonim Sirketi is a subsidiary of LYY Telekomünikasyon A.S.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Türk Telekomünikasyon Anonim Sirketi, reported revenue of 242B TRY in FY2025 versus 34.3B TRY in FY2021, a compound +63.0%/yr. Reported net income was 23.0B TRY in FY2025, compounding +41.3%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
242B TRY
Latest YoY
+14.5%
Avg. growth/yr (3Y)
+71.5%
Avg. growth/yr (5Y)
+53.6%
Avg. growth/yr (18Y)
+19.8%
Revenue +63.0%/yr
FY21 34.3B TRY
FY22 48.0B TRY
FY23 145B TRY
FY24 212B TRY
FY25 242B TRY
Net income +41.3%/yr
FY21 5.8B TRY
FY22 4.1B TRY
FY23 23.7B TRY
FY24 11.1B TRY
FY25 23.0B TRY

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Cite: Fair Value Calculator (2026). "Türk Telekomünikasyon Anonim Sirketi, Fair Value". https://www.fairvalue-calculator.com/stock/TTKOM

Peer Group

Telecom Services · 269 stocks

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.

Quality Score 47 · Below median
Fair Value upside +183% · Top 25%
Return on equity (TTM) 13% · Above median
Return on assets 7% · Top 25%
Net margin (TTM) 11% · Above median
Operating margin (TTM) 20% · Top 25%
Revenue growth 9% · Above median
Debt / equity 0.48× · Higher than median

Valuation Multiples vs Telecom Services median · lower = cheaper

P/E (TTM) 6.6× · Cheaper than 75% of peers
P/B 0.84× · Cheaper than median
P/S (TTM) 0.72× · Cheaper than median
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 2.2× · Cheaper than 75% of peers
PEG 0.78× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 / 29
FUTURE 44 / 15
PAST 52 / 27
HEALTH 76 / 89
DIVIDEND 0 / 73

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Telecom Services stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
China Mobile Limited 600941 ¥89.98 ¥109.88 +22%
T-Mobile US, Inc TMUS $187.61 $172.67 -8%
Bharti Airtel Limited BHARTIARTL ₹1,922 ₹941.55 -51%
China Telecom Corporation 601728 ¥6.01 ¥8.36 +39%
América Móvil, S.A. AMXB 23.07 MXN 30.35 MXN +32%
Vodafone Group VODN 259.50 MXN 507.27 MXN +95%
Advanced Info Service Public Company ADVANC 379.00 THB 286.77 THB -24%
Chunghwa Telecom Co 2412 133.50 TWD 100.00 TWD -25%
China Unicom (Hong Kong) Limited 0762 HK$6.50 HK$13.03 +100%
TLKM TLKM 2,530 IDR 3,898 IDR +54%

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Frequently asked questions

Is Türk Telekomünikasyon Anonim Sirketi, (TTKOM) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of 144.45 TRY versus a price of 51.00 TRY, about +183% (undervalued).
What is the fair value of TTKOM?
Our model-based fair value for Türk Telekomünikasyon Anonim Sirketi, is 144.45 TRY (as of Aug 2, 2026), built from audited fundamentals. The current price is 51.00 TRY.
What is the quality score of TTKOM?
Türk Telekomünikasyon Anonim Sirketi, has a Quality Score of 47/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Türk Telekomünikasyon Anonim Sirketi, (TTKOM)?
Türk Telekomünikasyon Anonim Sirketi, reported trailing-twelve-month revenue of about 247B TRY (latest available figure, as of Aug 2, 2026).
What is the net profit margin of TTKOM?
The net profit margin of Türk Telekomünikasyon Anonim Sirketi, is about 10.8%, meaning it keeps roughly 10.8% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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