Yapi ve Kredi Bankasi AS

Yapi ve Kredi Bankasi AS maintains a capital structure characterized by significant leverage, with total liabilities of 3,267,322,207,000 TRY against total equity of 255,609,879,000 TRY. The debt-to-equity ratio stands at 3.29, reflecting the asset-light, liability-heavy nature of banking operations. Long-term debt totals 841,305,580,000 TRY, contributing to a negative net cash position after subtracting total debt. Liquidity risk is assessed as medium, while dilution risk remains low given that basic and diluted shares outstanding are identical at 8,447,051,000. The company trades at a price-to-book ratio of 1.16 and a price-to-tangible book ratio of 1.16, indicating modest premium valuation relative to book value.

Profitability metrics demonstrate strong returns on equity, with an ROE of 0.219, significantly outperforming typical banking sector averages. Return on assets is recorded at 0.0159, consistent with the high asset base of 3,522,932,086,000 TRY. The company generated net income of 47,090,151,000 TRY on revenue of 161,083,211,000 TRY, yielding a net margin of approximately 29.2%. The price-to-earnings ratio of 5.3 suggests the market is pricing in conservative growth expectations or higher risk premiums associated with the Turkish financial environment.

Segment and geographic data are not explicitly detailed in the available financial snapshot, limiting specific analysis of revenue concentration by business line or region. However, the classification as a bank within the Turkish market implies primary exposure to domestic lending, deposit-taking, and transaction services. The absence of segment breakdown prevents assessment of diversification benefits or concentration risks within specific loan books or fee income streams.

Growth trajectory analysis is constrained by the absence of historical period data in the current input. Without multi-year revenue or net income trends, it is not possible to quantify year-over-year growth rates or identify cyclical patterns in the company’s performance. The current revenue figure of 161,083,211,000 TRY serves as the baseline for future comparisons.

Risk factors include medium liquidity risk and the key flag of negative net cash after debt subtraction. Operating cash flow is negative at -116,810,365,000 TRY, which contrasts with positive free cash flow of 51,638,544,000 TRY, suggesting significant capital expenditures or changes in working capital that offset operating inflows. Dilution risk is low, with no evidence of recent share issuance or convertible instruments impacting the share count.

Recent investor relations observations indicate a mean analyst price target of 49.79 TRY, representing a potential upside from the current market price of 35.14 TRY. The mean recommendation is 2.33, leaning towards a buy rating, with 8 buy ratings and 6 hold ratings among analysts. The high price target of 58.30 TRY and low of 44.00 TRY suggest a consensus view of moderate upside potential.

Revenue surged 81.7% year-over-year to 161.1 billion TRY in FY2026, demonstrating robust top-line expansion.

Net income grew 62.3% to 47.1 billion TRY, reflecting strong profitability growth alongside revenue expansion.

Free cash flow jumped 137.5% to 51.6 billion TRY, indicating significantly improved cash generation capabilities.

Analysts project 47.2% upside to a mean price target of 48.8, signaling strong market confidence.

Debt-to-equity ratio of 3.29 places the company in the bottom quartile, indicating high financial leverage risk.

Long-term debt ballooned to 841.3 billion TRY in FY2026, raising concerns about solvency and interest burden.

Cash conversion ratio of -2.09 ranks in the bottom quartile, suggesting poor efficiency in converting profits to cash.

Medium liquidity risk flags potential challenges in meeting short-term obligations despite strong cash flow growth.

Revenue TRY 58.10B, +95,3% YoY; Net income +77,7% YoY.

• ▍Revenue TRY 58.10B, +95,3% YoY
• ▍Net income +77,7% YoY
• ▍Free cash flow +74,8% YoY
• ▍Net margin 34.9%

Revenue TRY 51.71B, +103,0% YoY; Net income +40,4% YoY.

• ▍Revenue TRY 51.71B, +103,0% YoY
• ▍Net income +40,4% YoY
• ▍Free cash flow +41,7% YoY
• ▍Net margin 17.9%

Revenue TRY 44.42B, +150,9% YoY; Net income +201,2% YoY.

• ▍Revenue TRY 44.42B, +150,9% YoY
• ▍Net income +201,2% YoY
• ▍Free cash flow +181,4% YoY
• ▍Net margin 33.9%

Revenue TRY 35.20B, +75,0% YoY; Net income +59,5% YoY.

• ▍Revenue TRY 35.20B, +75,0% YoY
• ▍Net income +59,5% YoY
• ▍Free cash flow +614,4% YoY
• ▍Net margin 32.2%

Revenue TRY 29.75B; Net margin 38.4%.

• ▍Revenue TRY 29.75B
• ▍Net margin 38.4%

Revenue TRY 25.47B; Net margin 26.0%.

• ▍Revenue TRY 25.47B
• ▍Net margin 26.0%

Revenue TRY 17.71B; Net margin 28.2%.

• ▍Revenue TRY 17.71B
• ▍Net margin 28.2%

Revenue TRY 20.12B; Net margin 35.3%.

• ▍Revenue TRY 20.12B
• ▍Net margin 35.3%

Revenue TRY 161.08B, +81,7% YoY; Net income +62,3% YoY.

• ▍Revenue TRY 161.08B, +81,7% YoY
• ▍Net income +62,3% YoY
• ▍Free cash flow +137,5% YoY
• ▍Net margin 29.2%

Revenue TRY 88.65B, +11,6% YoY; Net income −57,3% YoY.

• ▍Revenue TRY 88.65B, +11,6% YoY
• ▍Net income −57,3% YoY
• ▍Free cash flow −64,8% YoY
• ▍Net margin 32.7%

Revenue TRY 79.42B, +0,2% YoY; Net income +28,9% YoY.

• ▍Revenue TRY 79.42B, +0,2% YoY
• ▍Net income +28,9% YoY
• ▍Free cash flow +16,9% YoY
• ▍Net margin 85.6%

Revenue TRY 79.26B, +233,9% YoY; Net income +402,8% YoY.

• ▍Revenue TRY 79.26B, +233,9% YoY
• ▍Net income +402,8% YoY
• ▍Free cash flow +388,2% YoY
• ▍Net margin 66.5%