Bizim Toptan Satis Magazalari AS

The company's capital structure is characterized by a debt-to-equity ratio of 0.58, indicating a moderate reliance on debt financing. However, its liquidity position is constrained, as evidenced by a current ratio of 0.82, which is below 1, suggesting that the company may struggle to meet its short-term obligations with its current assets. The company's cash and equivalents amount to 420.18 million TRY, but this is insufficient to cover its long-term debt of 1.17 billion TRY, resulting in a negative net cash position.

Profitability metrics are weak, with a return on equity of -15.09% and a return on assets of -2.85%, both significantly below the industry median for food retail and distribution companies. The company reported an operating loss of 872.48 million TRY and a net loss of 304.28 million TRY, indicating a challenging operating environment. Gross profit of 1.4 billion TRY is insufficient to cover operating expenses, highlighting the need for cost optimization or revenue growth.

The company's revenue is concentrated in a single business segment, with no disclosed geographic diversification. This lack of diversification increases exposure to regional economic fluctuations and supply chain disruptions. The absence of segment-specific financial data limits the ability to assess the performance of different parts of the business.

The company's growth trajectory is uncertain, with no disclosed revenue growth in the most recent period. Analysts have assigned a "Hold" recommendation, with no strong buy or buy ratings, indicating a neutral outlook. The company's operating cash flow of 91.65 million TRY is positive but insufficient to cover capital expenditures of 70.03 million TRY, resulting in a negative free cash flow of 25.55 million TRY. This suggests that the company is not generating enough cash to sustain operations and invest in growth.

The company's risk profile is moderate, with a liquidity risk rating of medium and a dilution risk rating of low. The primary risk factor is the negative net cash position, which could limit the company's ability to respond to financial stress. No recent events or filings have been disclosed that would significantly impact the company's financial position.

The company's recent financial performance and risk profile suggest a need for strategic adjustments to improve profitability and liquidity. The lack of analyst optimism and the negative net cash position indicate that the company may need to address its financial challenges to attract investor confidence.

Free cash flow surged 148.7% year-over-year to 662.3 million TRY, demonstrating significant improvement in cash generation capabilities.

Analysts project 24.5% upside to a target price of 38.0 TRY, suggesting the current market price of 30.52 TRY is undervalued.

Net income improved by 64.0% year-over-year, indicating a substantial reduction in losses compared to the previous fiscal period.

Operating income increased by 41.5% year-over-year, reflecting a meaningful narrowing of operational losses in the latest reporting period.

Debt-to-equity ratio of 0.58 remains below the cohort median of 0.51, indicating a relatively conservative leverage position among peers.

The company faces high credit risk, signaling potential difficulties in meeting financial obligations or servicing existing debt levels.

Long-term debt increased to 1.94 billion TRY in FY2026, rising from 1.42 billion TRY in FY2024, increasing financial leverage.

Revenue TRY 11.70B; Operating income -TRY 791.1M.

• ▍Revenue TRY 11.70B
• ▍Operating income -TRY 791.1M
• ▍Net margin -3.4%

Revenue TRY 11.29B; Operating income -TRY 1.02B.

• ▍Revenue TRY 11.29B
• ▍Operating income -TRY 1.02B
• ▍Net margin -4.4%

Revenue TRY 10.90B; Operating income -TRY 872.5M.

• ▍Revenue TRY 10.90B
• ▍Operating income -TRY 872.5M
• ▍Net margin -2.8%

Revenue TRY 39.41B, −21,2% YoY; Operating income +41,5% YoY.

• ▍Revenue TRY 39.41B, −21,2% YoY
• ▍Operating income +41,5% YoY
• ▍Net income +64,0% YoY
• ▍Free cash flow +148,7% YoY
• ▍Net margin -2.0%

Revenue TRY 50.03B, +7,5% YoY; Operating income −59,6% YoY.

• ▍Revenue TRY 50.03B, +7,5% YoY
• ▍Operating income −59,6% YoY
• ▍Net income −2 278,3% YoY
• ▍Free cash flow −663,3% YoY
• ▍Net margin -4.4%

Revenue TRY 46.52B, +45,7% YoY; Operating income −117,6% YoY.

• ▍Revenue TRY 46.52B, +45,7% YoY
• ▍Operating income −117,6% YoY
• ▍Net income −85,4% YoY
• ▍Free cash flow −66,6% YoY
• ▍Net margin 0.2%

Revenue TRY 31.94B, +345,2% YoY; Operating income −779,1% YoY.

• ▍Revenue TRY 31.94B, +345,2% YoY
• ▍Operating income −779,1% YoY
• ▍Net income +738,6% YoY
• ▍Free cash flow +22 635,0% YoY
• ▍Net margin 2.2%

Revenue TRY 7.17B; Operating income TRY 148.9M.

• ▍Revenue TRY 7.17B
• ▍Operating income TRY 148.9M
• ▍Net margin 1.1%