BYDNR—56

Baydoner Restoranlari AS

Restaurants & BarsVerified

Score breakdown

Profitability+9Sentiment+24Risk penalty-3Missing signals-3

Quality breakdown

Key fields100Profile38Conclusion95AI synthesis40Observations3

Baydoner Restoranlari AS has a liquidity position that is medium risk, with a current ratio of 0.69, indicating that its current liabilities exceed its current assets [doc:HA-latest]. The company holds 168.5 million TRY in cash and equivalents, but its long-term debt of 941.5 million TRY suggests a reliance on debt financing. The free cash flow is negative at -666.4 million TRY, and capital expenditures of -1.194 billion TRY indicate significant reinvestment in the business [doc:HA-latest]. Profitability metrics are weak, with a return on equity of -6.88% and a return on assets of -3.17%, both below the typical thresholds for healthy performance in the Restaurants & Bars industry [doc:HA-latest]. The company reported a net loss of 100.95 million TRY and an operating loss of 186.03 million TRY, reflecting operational inefficiencies or declining margins [doc:HA-latest]. The company operates over 150 restaurants in Turkey and Iraq, with a disclosed focus on franchise expansion and delivery services. However, revenue concentration data is not provided, and the financial snapshot does not specify the geographic or segmental breakdown of revenue [doc:HA-latest]. Growth appears to be under pressure, with no specific revenue growth rate provided in the financial snapshot. The operating cash flow of 774.8 million TRY is positive, but the negative free cash flow and high capital expenditures suggest that the company is investing heavily in expansion or maintenance [doc:HA-latest]. Risk factors include a medium liquidity risk and a debt-to-equity ratio of 0.64, which is relatively high for a restaurant operator. The company has a low dilution risk, but the negative net cash position after subtracting total debt raises concerns about its ability to meet long-term obligations [doc:HA-latest]. Recent events include the continued operation of over 150 restaurants and the expansion of franchise and delivery services, but no specific recent filings or transcripts are cited in the provided data [doc:HA-latest].

Profile

CompanyBaydoner Restoranlari AS

TickerBYDNR.IS

SectorConsumer Cyclicals

BusinessCyclical Consumer Services

Industry groupCyclical Consumer Services

IndustryRestaurants & Bars

AI analysis

Business. Baydoner Restoranlari AS operates limited-service restaurants in Turkey and Iraq under the Baydoner, Bursa Ishakbey, and Pide by Pide brands, offering fast food and desserts such as Doner Kebab, Iskender Kebab, and Pide, and also provides franchise options and delivery services [doc:HA-latest].

Classification. Baydoner Restoranlari AS is classified in the Consumer Cyclicals economic sector, Cyclical Consumer Services business sector, and Restaurants & Bars industry, with a classification confidence of 0.92 [doc:verified market data].

Key takeaways

Baydoner Restoranlari AS is a restaurant operator with a weak profitability profile, as evidenced by a negative return on equity and operating loss.
The company has a medium liquidity risk and a negative free cash flow, indicating potential challenges in sustaining operations without external financing.
High capital expenditures suggest ongoing investment in the business, but the negative net cash position raises concerns about long-term solvency.
The company operates in a competitive and cyclical industry, with no clear revenue concentration or geographic diversification data provided.
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Financial snapshot

PeriodHA-latest

CurrencyTRY

Revenue$3.96B

Gross profit$398.4M

Operating income-$186.0M

Net income-$101.0M

R&D—

SG&A—

D&A—

SBC—

Operating cash flow$774.8M

CapEx-$1.19B

Free cash flow-$666.4M

Total assets$3.18B

Total liabilities$1.71B

Total equity$1.47B

Cash & equivalents$168.5M

Long-term debt$941.5M

Annual history (last 5)

PeriodRevenueOp IncomeNet IncomeFCF

FY0$3.96B-$186.0M-$101.0M-$666.4M

FY-1$4.12B$26.0M-$153.5M-$28.5M

FY-2$2.81B$260.8M$200.4M$39.0M

FY-3$1.55B$18.1M$131.7M$378.0M

FY-4$278.9M$25.2M$32.8M$40.1M

PeriodGross %Op %Net %FCF %

FY0————

FY-1————

FY-2————

FY-3————

FY-4————

PeriodAssetsEquityCashDebt

FY0$3.18B$1.47B$168.5M—

FY-1$2.60B$1.24B$423.7M—

FY-2$2.40B$1.34B$498.5M—

FY-3$1.85B$724.6M$236.9M—

FY-4$366.2M$138.7M$27.2M—

PeriodOCFCapExFCFSBC

FY0$774.8M-$1.19B-$666.4M—

FY-1-$97.6M-$403.0M-$28.5M—

FY-2$462.3M-$653.3M$39.0M—

FY-3$337.5M-$94.8M$378.0M—

FY-4$115.3M-$56.2M$40.1M—

Quarterly history (last 4)

PeriodRevenueOp IncomeNet IncomeFCF

FQ0$1.12B-$50.8M-$18.3M-$299.3M

FQ-1$988.8M-$21.6M$19.6M-$52.2M

FQ-2$840.5M-$78.1M-$75.9M-$252.4M

FQ-3$831.3M-$26.0M-$18.2M-$2.6M

FQ-4$1.21B-$92.2M-$102.3M-$46.0M

FQ-5$1.03B$65.3M$44.4M$106.2M

FQ-6$879.1M-$7.0M-$194.7M-$118.3M

FQ-7$820.8M$52.9M$99.8M$30.2M

PeriodGross %Op %Net %FCF %

FQ0————

FQ-1————

FQ-2————

FQ-3————

FQ-4————

FQ-5————

FQ-6————

FQ-7————

PeriodAssetsEquityCashDebt

FQ0$3.18B$1.47B$168.5M—

FQ-1$2.87B$1.44B$230.0M—

FQ-2$2.60B$1.32B$162.0M—

FQ-3$2.65B$1.36B$296.4M—

FQ-4$2.60B$1.24B$423.7M—

FQ-5$2.12B$1.36B$615.9M—

FQ-6$1.90B$1.21B$469.3M—

FQ-7$1.97B$1.21B$21.5M—

PeriodOCFCapExFCFSBC

FQ0$774.8M-$1.19B-$299.3M—

FQ-1$433.1M-$754.0M-$52.2M—

FQ-2$188.7M-$516.1M-$252.4M—

FQ-3-$132.6M-$80.1M-$2.6M—

FQ-4-$97.6M-$403.0M-$46.0M—

FQ-5$677.5M-$288.2M$106.2M—

FQ-6$334.5M-$198.4M-$118.3M—

FQ-7$127.0M-$185.1M$30.2M—

Valuation

Market price—

Market cap—

Enterprise value—

P/E—

Reported non-GAAP P/E—

EV/Revenue—

EV/Op income—

EV/OCF—

P/B—

P/Tangible book—

Tangible book$1.47B

Net cash-$772.9M

Current ratio0.7

Debt/Equity0.6

ROA-3.2%

ROE-6.9%

Cash conversion-7.7%

CapEx/Revenue-30.1%

SBC/Revenue—

Asset intensity—

Dilution ratio0.0%

Risk assessment

Dilution riskLow

Liquidity riskMedium

Net cash is negative after subtracting total debt.

Industry benchmarks

Activity: Restaurants & Bars · cohort 3 companies

MetricBYDNRActivity

Op margin-4.7%31.3% medp25 27.3% · p75 38.7%bottom quartile

Net margin-2.5%25.4% medp25 22.2% · p75 28.6%bottom quartile

Gross margin10.1%54.1% medp25 33.1% · p75 66.8%bottom quartile

CapEx / revenue-30.1%4.5% medp25 3.7% · p75 8.5%bottom quartile

Debt / equity64.0%-162.1% medp25 -1197.0% · p75 101.3%above median

Source data

Underlying data the analysis-pipeline pulls and audits. Fetch timestamps + content hashes show when each source was last refreshed.

Company fundamentalsperiod FQ-7 · history via verified-market-data

no public URL

2026-05-04 05:20 UTC#29fed60b

Source: analysis-pipeline (hybrid)Generated: 2026-05-04 05:21 UTCJob: dbb213b4