Financials Türkiye Sise Ve Cam Fabrikalari

Equities

SISE

TRASISEW91Q3

Consumer Goods Conglomerates

Market Closed - Borsa Istanbul 11:09:47 2024-07-12 am EDT 5-day change 1st Jan Change
50 TRY -0.99% Intraday chart for Türkiye Sise Ve Cam Fabrikalari -3.10% +9.12%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 11,858 22,392 40,986 131,473 140,356 153,161 - -
Enterprise Value (EV) 1 18,908 27,590 52,633 148,511 179,760 212,930 236,910 265,911
P/E ratio 6.23 x 8.39 x 4.47 x 6.61 x 7.84 x 7.79 x 4.94 x 4.12 x
Yield 2.7% 2.23% 3.05% - - 1.28% 2.66% 3.02%
Capitalization / Revenue 0.66 x 1.05 x 1.28 x 1.38 x 0.92 x 0.81 x 0.59 x 0.49 x
EV / Revenue 1.05 x 1.29 x 1.64 x 1.56 x 1.18 x 1.12 x 0.92 x 0.84 x
EV / EBITDA 4.94 x 6.26 x 6.96 x 7.26 x 8.67 x 6.76 x 5.02 x 5.88 x
EV / FCF -32.2 x 34.9 x -271 x 28.6 x 10.5 x -5.04 x -5.82 x -
FCF Yield -3.11% 2.86% -0.37% 3.49% 9.54% -19.8% -17.2% -
Price to Book 0.81 x 1.01 x 1.04 x 1.67 x 1.6 x 0.67 x 0.51 x 0.42 x
Nbr of stocks (in thousands) 2,250,000 3,063,214 3,063,214 3,063,214 3,063,214 3,063,214 - -
Reference price 2 5.270 7.310 13.38 42.92 45.82 50.00 50.00 50.00
Announcement Date 1/30/20 2/1/21 2/8/22 2/3/23 3/4/24 - - -
1TRY in Million2TRY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 18,059 21,341 32,058 95,349 151,994 189,406 258,633 314,847
EBITDA 1 3,831 4,405 7,562 20,455 20,727 31,484 47,177 45,193
EBIT 1 2,457 2,755 5,501 15,354 10,456 12,990 32,245 42,286
Operating Margin 13.6% 12.91% 17.16% 16.1% 6.88% 6.86% 12.47% 13.43%
Earnings before Tax (EBT) 1 2,596 3,255 11,078 19,762 23,590 20,032 37,040 42,702
Net income 1 1,905 2,138 9,133 19,345 17,121 19,108 29,612 33,477
Net margin 10.55% 10.02% 28.49% 20.29% 11.26% 10.09% 11.45% 10.63%
EPS 2 0.8465 0.8711 2.994 6.496 5.846 6.417 10.12 12.14
Free Cash Flow 1 -588.1 790.2 -193.9 5,185 17,147 -42,215 -40,680 -
FCF margin -3.26% 3.7% -0.6% 5.44% 11.28% -22.29% -15.73% -
FCF Conversion (EBITDA) - 17.94% - 25.35% 82.73% - - -
FCF Conversion (Net income) - 36.96% - 26.8% 100.15% - - -
Dividend per Share 2 0.1422 0.1632 0.4081 - - 0.6417 1.328 1.508
Announcement Date 1/30/20 2/1/21 2/8/22 2/3/23 3/4/24 - - -
1TRY in Million2TRY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1
Net sales 1 11,045 16,974 23,258 26,047 29,070 28,365 30,069 36,406 57,154 40,584
EBITDA 1 2,387 4,456 5,637 5,731 4,631 5,708 5,245 7,406 2,368 3,133
EBIT 1,790 3,985 - - - - - - - -
Operating Margin 16.2% 23.48% - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - -
Net income 1 5,038 3,576 5,379 4,801 5,589 2,364 5,705 5,291 3,761 2,355
Net margin 45.61% 21.07% 23.13% 18.43% 19.22% 8.33% 18.97% 14.53% 6.58% 5.8%
EPS 1.654 1.203 1.852 1.709 - - - - - -
Dividend per Share - - - - - - - - - -
Announcement Date 2/8/22 5/5/22 8/2/22 10/31/22 2/3/23 4/28/23 8/7/23 10/27/23 3/4/24 5/31/24
1TRY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 7,051 5,198 11,647 17,038 39,404 59,770 83,749 112,751
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.84 x 1.18 x 1.54 x 0.833 x 1.901 x 1.898 x 1.775 x 2.495 x
Free Cash Flow 1 -588 790 -194 5,185 17,147 -42,215 -40,680 -
ROE (net income / shareholders' equity) 13.9% 11.6% 29.6% 33.3% 10.1% 9.55% 15.6% 13.3%
ROA (Net income/ Total Assets) 5.72% 5.15% 13.7% 15.1% 5.9% 12.2% 10.9% -
Assets 1 33,296 41,489 66,448 128,103 290,099 156,622 271,674 -
Book Value Per Share 2 6.500 7.250 12.90 25.70 28.60 74.10 98.20 118.0
Cash Flow per Share 2 1.020 1.090 0.8000 4.200 12.90 4.320 8.040 10.20
Capex 1 2,890 1,873 2,637 7,778 20,991 29,349 46,208 -
Capex / Sales 16% 8.78% 8.22% 8.16% 13.81% 15.5% 17.87% -
Announcement Date 1/30/20 2/1/21 2/8/22 2/3/23 3/4/24 - - -
1TRY in Million2TRY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
9
Last Close Price
50 TRY
Average target price
65.86 TRY
Spread / Average Target
+31.72%
Consensus
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