EREGLI DEMIR VE ÇELIK FABRIKALARI T.A.S. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 42.8 TRY | +2.88% |
|
+3.83% | +4.39% |
| Feb. 23 | ArcelorMittal Said to Trim Stake in Turkish Steelmaker Erdemir | MT |
| Feb. 23 | Transcript : Eregli Demir ve Çelik Fabrikalari T.A.S., Q4 2023 Earnings Call, Feb 23, 2024 |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 31,640 | 52,255 | 98,560 | 144,410 | 143,500 | 149,800 | - | - |
| Enterprise Value (EV) 1 | 28,650 | 45,311 | 92,047 | 158,804 | 143,500 | 227,006 | 243,092 | 267,851 |
| P/E ratio | 9.54 x | 15.8 x | 6.35 x | 8.02 x | 34.4 x | 9.13 x | 6.34 x | 4.03 x |
| Yield | 2.54% | 12.4% | 15.8% | - | - | 6.46% | 10.7% | 17.4% |
| Capitalization / Revenue | 1.15 x | 1.63 x | 1.44 x | 1.13 x | 0.97 x | 0.65 x | 0.54 x | 0.47 x |
| EV / Revenue | 1.04 x | 1.41 x | 1.35 x | 1.24 x | 0.97 x | 0.99 x | 0.87 x | 0.84 x |
| EV / EBITDA | 5.17 x | 6.8 x | 3.48 x | 5.96 x | 9.21 x | 6.29 x | 4.59 x | 3.93 x |
| EV / FCF | 3.7 x | 8.76 x | 12.8 x | 14.7 x | - | -8.48 x | 78.9 x | 30.6 x |
| FCF Yield | 27% | 11.4% | 7.84% | 6.82% | - | -11.8% | 1.27% | 3.27% |
| Price to Book | 1.04 x | 1.31 x | 1.2 x | - | - | 0.65 x | 0.64 x | 0.45 x |
| Nbr of stocks (in thousands) | 3,500,000 | 3,500,000 | 3,500,000 | 3,500,000 | 3,500,000 | 3,500,000 | - | - |
| Reference price 2 | 9.040 | 14.93 | 28.16 | 41.26 | 41.00 | 42.80 | 42.80 | 42.80 |
| Announcement Date | 2/12/20 | 2/11/21 | 2/10/22 | 3/3/23 | 2/22/24 | - | - | - |
1TRY in Million2TRY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 27,465 | 32,048 | 68,227 | 127,783 | 147,900 | 229,151 | 278,425 | 318,745 |
| EBITDA 1 | 5,537 | 6,665 | 26,468 | 26,655 | 15,573 | 36,100 | 53,005 | 68,192 |
| EBIT 1 | 4,388 | 5,140 | 24,416 | 23,161 | 10,201 | 28,696 | 42,739 | 57,388 |
| Operating Margin | 15.98% | 16.04% | 35.79% | 18.13% | 6.9% | 12.52% | 15.35% | 18% |
| Earnings before Tax (EBT) 1 | 5,067 | 5,658 | 23,917 | 22,112 | 8,837 | 24,046 | 38,334 | 61,987 |
| Net income 1 | 3,317 | 3,309 | 15,527 | 18,005 | 4,033 | 16,764 | 26,953 | 44,488 |
| Net margin | 12.08% | 10.33% | 22.76% | 14.09% | 2.73% | 7.32% | 9.68% | 13.96% |
| EPS 2 | 0.9476 | 0.9455 | 4.436 | 5.144 | 1.192 | 4.686 | 6.754 | 10.63 |
| Free Cash Flow 1 | 7,748 | 5,171 | 7,219 | 10,837 | - | -26,756 | 3,082 | 8,767 |
| FCF margin | 28.21% | 16.13% | 10.58% | 8.48% | - | -11.68% | 1.11% | 2.75% |
| FCF Conversion (EBITDA) | 139.93% | 77.58% | 27.27% | 40.66% | - | - | 5.81% | 12.86% |
| FCF Conversion (Net income) | 233.63% | 156.26% | 46.49% | 60.19% | - | - | 11.43% | 19.71% |
| Dividend per Share 2 | 0.2300 | 1.850 | 4.450 | - | - | 2.766 | 4.595 | 7.435 |
| Announcement Date | 2/12/20 | 2/11/21 | 2/10/22 | 3/3/23 | 2/22/24 | - | - | - |
1TRY in Million2TRY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 18,263 | 25,167 | 29,204 | 34,609 | 36,723 | 27,248 | 26,274 | 37,346 | 37,390 | 46,889 | 52,671 | 54,108 | 54,101 | 52,904 | 52,069 |
| EBITDA 1 | 7,418 | 9,579 | 9,764 | 10,851 | 5,365 | 674.4 | 1,389 | 3,823 | 5,228 | 5,132 | 6,264 | 7,912 | 9,593 | 9,953 | 10,122 |
| EBIT 1 | 6,982 | 8,853 | 8,982 | 9,965 | 4,391 | -177.4 | 379.1 | 2,530 | 3,914 | 3,377 | 4,311 | 5,886 | 7,494 | 7,782 | 7,881 |
| Operating Margin | 38.23% | 35.18% | 30.76% | 28.79% | 11.96% | -0.65% | 1.44% | 6.77% | 10.47% | 7.2% | 8.18% | 10.88% | 13.85% | 14.71% | 15.13% |
| Earnings before Tax (EBT) 1 | - | - | 8,762 | - | - | -737.6 | - | 1,260 | 4,926 | 2,665 | 2,142 | 3,523 | 5,126 | 5,238 | 6,339 |
| Net income 1 | 5,003 | 4,723 | 5,626 | 6,639 | 2,565 | 3,175 | 90.31 | -3,999 | 41.37 | 7,901 | 565.6 | 930.2 | 1,353 | 1,383 | 1,674 |
| Net margin | 27.39% | 18.77% | 19.26% | 19.18% | 6.98% | 11.65% | 0.34% | -10.71% | 0.11% | 16.85% | 1.07% | 1.72% | 2.5% | 2.61% | 3.21% |
| EPS 2 | 1.429 | 1.350 | 1.607 | 1.897 | 0.7328 | 0.9071 | 0.0258 | -1.143 | 0.0118 | 2.298 | 0.1680 | 0.2770 | 0.4020 | 0.4110 | 0.4980 |
| Dividend per Share 2 | - | 4.450 | - | - | - | - | - | - | - | - | - | - | - | 0.9910 | - |
| Announcement Date | 10/26/21 | 2/10/22 | 4/27/22 | 8/9/22 | 10/26/22 | 3/3/23 | 5/2/23 | 8/9/23 | 10/26/23 | 2/22/24 | - | - | - | - | - |
1TRY in Million2TRY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | 14,394 | - | 77,206 | 93,292 | 118,051 |
| Net Cash position 1 | 2,990 | 6,944 | 6,513 | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | 0.54 x | - | 2.139 x | 1.76 x | 1.731 x |
| Free Cash Flow 1 | 7,748 | 5,171 | 7,219 | 10,837 | - | -26,756 | 3,082 | 8,767 |
| ROE (net income / shareholders' equity) | 11.3% | 9.44% | 25.4% | - | - | 7.08% | 10.4% | 11% |
| ROA (Net income/ Total Assets) | 7.5% | 6.32% | 16.8% | - | - | 4.5% | 5.73% | 7% |
| Assets 1 | 44,227 | 52,333 | 92,218 | - | - | 372,523 | 470,111 | 635,550 |
| Book Value Per Share 2 | 8.660 | 11.40 | 23.50 | - | - | 65.80 | 66.40 | 95.30 |
| Cash Flow per Share 2 | 2.070 | 2.090 | 1.630 | - | - | 1.150 | 10.80 | - |
| Capex 1 | 1,408 | 2,145 | 3,862 | 11,388 | - | 33,874 | 24,531 | 26,880 |
| Capex / Sales | 5.13% | 6.69% | 5.66% | 8.91% | - | 14.78% | 8.81% | 8.43% |
| Announcement Date | 2/12/20 | 2/11/21 | 2/10/22 | 3/3/23 | 2/22/24 | - | - | - |
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
B+
Sell
Buy
Mean consensus
HOLD
Number of Analysts
14
Last Close Price
42.8
TRY
Average target price
52.36
TRY
Spread / Average Target
+22.33%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +4.39% | 4.61B | |
| +0.70% | 25.86B | |
| +19.56% | 21.28B | |
| -9.07% | 11.73B | |
| +24.56% | 11.2B | |
| +11.54% | 10.91B | |
| +10.96% | 10.15B | |
| +2.61% | 8.56B | |
| +5.78% | 7.32B | |
| +22.56% | 6.92B |
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- Financials Eregli Demir ve Çelik Fabrikalari T.A.S.
