Cash flow Fenerbahçe Futbol

Equities

FENER

TREFBAH00019

Leisure & Recreation

Market Closed - Borsa Istanbul Other stock markets 11:09:49 2025-06-23 am EDT			5-day change	1st Jan Change
47.94 ^TRY	-1.28%		-5.63%	+2.22%

May. 22	Fenerbahce Says It Decides To Increase Share Capital From 250 Mln Lira To 1.25 Bln Lira Via Rights Issue	RE
Apr. 09	Fenerbahce Q3 Net Loss Widens To 297.2 Mln Lira YoY	RE

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Published financial data: FENERBAHÇE FUTBOL

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: May	2020	2021	2022	2023	2024
Revenues	544M	689M	1.3B	2.06B	5.52B
Total Revenues	544M	689M	1.3B	2.06B	5.52B
Cost of Goods Sold, Total	588M	777M	1.22B	2.32B	6.38B
Gross Profit	-43.44M	-88.37M	80.79M	-258M	-855M
Selling General & Admin Expenses, Total	72.18M	64.41M	115M	217M	538M
Other Operating Expenses	-1.06M	67.49K	-2.01M	-1.47M	-262M
Other Operating Expenses, Total	71.12M	64.48M	113M	215M	276M
Operating Income	-115M	-153M	-32.35M	-473M	-1.13B
Interest Expense, Total	-212M	-340M	-719M	-407M	-1.14B
Interest And Investment Income	440M	492M	609M	817M	3.18B
Net Interest Expenses	229M	152M	-110M	410M	2.04B
Currency Exchange Gains (Loss)	-196M	-83.41M	-90.91M	-75.76M	-653M
Other Non Operating Income (Expenses)	-70.1M	-86.47M	-50.96M	-108M	1.51B
EBT, Excl. Unusual Items	-152M	-171M	-284M	-247M	1.77B
Gain (Loss) On Sale Of Investments	-	-29.35M	-8.63M	-9.59M	-90.75M
EBT, Incl. Unusual Items	-152M	-200M	-293M	-257M	1.68B
Income Tax Expense	1.81M	993K	2.89M	14.83M	31.72M
Earnings From Continuing Operations	-153M	-201M	-295M	-272M	1.64B
Net Income to Company	-153M	-201M	-295M	-272M	1.64B
Minority Interest	-1.48M	-878K	-1.38M	-6.86M	-57.43M
Net Income - (IS)	-155M	-202M	-297M	-279M	1.59B
Net Income to Common Incl Extra Items	-155M	-202M	-297M	-279M	1.59B
Net Income to Common Excl. Extra Items	-155M	-202M	-297M	-279M	1.59B
Per Share Items
Net EPS - Basic	-1.56	-2.04	-3	-2.82	16.04
Basic EPS - Continuing Operations	-1.56	-2.04	-3	-2.82	16.04
Basic Weighted Average Shares Outstanding	98.98M	98.98M	98.98M	98.98M	98.98M
Net EPS - Diluted	-1.56	-2.04	-3	-2.82	16.04
Diluted EPS - Continuing Operations	-1.56	-2.04	-3	-2.82	16.04
Diluted Weighted Average Shares Outstanding	98.98M	98.98M	98.98M	98.98M	98.98M
Normalized Basic EPS	-0.97	-1.09	-1.81	-1.63	10.58
Normalized Diluted EPS	-0.97	-1.09	-1.81	-1.63	10.58
Supplemental Items
EBITDA	-44.69M	-71.65M	76.97M	-149M	-165K
EBITA	-50.13M	-77.33M	69.6M	-166M	-62.67M
EBIT	-115M	-153M	-32.35M	-473M	-1.13B
EBITDAR	-22.14M	-44.18M	116M	-82.56M	117M
Effective Tax Rate - (Ratio)	-1.2	-0.5	-0.99	-5.77	1.89
Total Current Taxes	1.47M	1.87M	1.84M	11.15M	20.23M
Total Deferred Taxes	339K	-879K	1.05M	3.68M	11.49M
Normalized Net Income	-96.17M	-107M	-179M	-161M	1.05B
Interest on Long-Term Debt	1.86M	1.24M	2.43M	3.51M	6.62M
Supplemental Operating Expense Items
Marketing Expenses	40.79M	45.24M	75.59M	151M	396M
Selling and Marketing Expenses	40.79M	45.24M	75.59M	151M	396M
General and Administrative Expenses	31.39M	19.17M	39.56M	65.94M	142M
Net Rental Expense, Total	22.55M	27.46M	38.78M	66.83M	117M
Imputed Operating Lease Interest Expense	18.74M	29.33M	65.12M	55.15M	198M
Imputed Operating Lease Depreciation	3.82M	-1.87M	-26.34M	11.68M	-81.25M

Fiscal Period: May	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	13.76M	8.62M	140M	37.04M	270M
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	13.76M	8.62M	140M	37.04M	270M
Accounts Receivable, Total	89.13M	147M	227M	446M	837M
Other Receivables	1.72B	2.23B	2.86B	3.07B	3.64B
Total Receivables	1.81B	2.38B	3.09B	3.51B	4.48B
Inventory	28.12M	36.03M	44.35M	115M	250M
Prepaid Expenses	21.56M	25.37M	26.07M	36.82M	204M
Other Current Assets, Total	15.71M	34.42M	27.53M	54.09M	130M
Total Current Assets	1.89B	2.48B	3.33B	3.76B	5.34B
Gross Property Plant And Equipment	99.24M	120M	161M	229M	1.39B
Accumulated Depreciation	-57.83M	-81.93M	-104M	-128M	-1.04B
Net Property Plant And Equipment	41.41M	38.13M	56.84M	101M	349M
Other Intangibles, Total	133M	184M	200M	686M	2.48B
Accounts Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	464K	1.45M	846K	-	-
Other Long-Term Assets, Total	24.09M	32.57M	22.04M	41.92M	166M
Total Assets	2.09B	2.74B	3.61B	4.58B	8.33B
Liabilities
Accounts Payable, Total	168M	249M	234M	921M	2.51B
Accrued Expenses, Total	278M	257M	345M	883M	1.31B
Short-term Borrowings	936M	2.02B	-	96.49M	161M
Current Portion of Long-Term Debt	422M	780M	691M	751M	510M
Current Portion of Leases	10.41M	12.6M	12.71M	11.28M	38.83M
Current Income Taxes Payable	-	41.01M	93.81M	32.64M	588M
Unearned Revenue Current, Total	96.72M	63.1M	64.32M	115M	748M
Other Current Liabilities	531K	18.89M	41.64M	60.03M	69.6M
Total Current Liabilities	1.91B	3.44B	1.48B	2.87B	5.93B
Long-Term Debt	776M	112M	3.22B	3.12B	3.01B
Long-Term Leases	9.86M	9.45M	-	-	52.27M
Unearned Revenue Non Current	133M	90.98M	81.26M	61.55M	86.67M
Pension & Other Post Retirement Benefits	31.9M	42.85M	91.14M	78.7M	207M
Deferred Tax Liability Non Current	-	-	-	2.19M	20.26M
Other Non Current Liabilities	31.35M	44.21M	39.46M	31.09M	78.54M
Total Liabilities	2.89B	3.74B	4.91B	6.16B	9.39B
Common Stock, Total	98.98M	98.98M	98.98M	98.98M	98.98M
Additional Paid In Capital	417M	417M	417M	417M	2.73B
Retained Earnings	-1.11B	-1.31B	-1.6B	-1.88B	-4.9B
Comprehensive Income and Other	-218M	-218M	-221M	-226M	924M
Total Common Equity	-807M	-1.01B	-1.31B	-1.59B	-1.14B
Minority Interest	5.26M	6.06M	7.18M	13.58M	84.86M
Total Equity	-802M	-1B	-1.3B	-1.58B	-1.06B
Total Liabilities And Equity	2.09B	2.74B	3.61B	4.58B	8.33B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	98.98M	98.98M	98.98M	98.98M	98.98M
ECS Total Common Shares Outstanding	98.98M	98.98M	98.98M	98.98M	98.98M
Book Value / Share	-8.15	-10.2	-13.23	-16.09	-11.53
Tangible Book Value	-940M	-1.19B	-1.51B	-2.28B	-3.62B
Tangible Book Value Per Share	-9.5	-12.05	-15.25	-23.02	-36.58
Total Debt	2.15B	2.93B	3.92B	3.98B	3.77B
Net Debt	2.14B	2.92B	3.78B	3.94B	3.5B
Debt Equivalent Oper. Leases	180M	220M	310M	535M	936M
Minority Interest, Total (Incl. Fin. Div)	5.26M	6.06M	7.18M	13.58M	84.86M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Finished Goods, Total	29M	36.55M	44.67M	115M	247M
Inventories - Others	-	-	-	-	3.12M
Land - (BS)	6.62M	6.62M	6.62M	6.62M	54.66M
Machinery, Total	34.42M	36.54M	39.65M	54.15M	444M
Full Time Employees	515	502	497	530	628
Accumulated Allowance for Doubtful Accounts (Supple)	7.42M	7.42M	7.35M	12.12M	12.89M

Fiscal Period: May	2020	2021	2022	2023	2024
Net Income	-155M	-202M	-297M	-279M	1.59B
Depreciation & Amortization - CF	16.29M	24.32M	22.56M	26.72M	115M
Amortization of Goodwill and Intangible Assets - (CF)	64.43M	75.52M	102M	308M	1.07B
Depreciation & Amortization, Total	80.72M	99.83M	125M	334M	1.18B
Amortization of Deferred Charges, Total - (CF)	15.72M	-	-	-	-
(Gain) Loss From Sale Of Asset	-103M	-138M	-45.78M	-418M	-1.98B
Provision and Write-off of Bad Debts	2.19M	-2.31K	-63.99K	4.77M	763K
Other Operating Activities, Total	84.98M	113M	158M	7.07M	-1.77B
Change In Accounts Receivable	86.68M	-57.59M	-79.85M	-224M	-392M
Change In Inventories	2.29M	-7.55M	-8.12M	-70.43M	-31.61M
Change In Accounts Payable	-28.03M	81.43M	-14.73M	687M	1.59B
Change In Income Taxes	-	-	-	-	-
Change in Other Net Operating Assets	249M	-234M	90.67M	652M	1.57B
Cash from Operations	235M	-344M	-72.31M	694M	1.76B
Capital Expenditure	-6.34M	-3.29M	-33.56M	-60.7M	-40.73M
Sale of Property, Plant, and Equipment	99.01K	41.86K	215K	161K	10.94K
Sale (Purchase) of Real Estate properties	-	-	-	-	-
Sale (Purchase) of Intangible assets	7.33M	12.19M	-72.76M	-375M	-53.55M
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Cash from Investing	1.09M	8.94M	-106M	-436M	-94.27M
Long-Term Debt Issued, Total	264M	919M	291M	-	-
Total Debt Issued	264M	919M	291M	-	-
Long-Term Debt Repaid, Total	-284M	-445M	-19.67M	-15.08M	-87.78M
Total Debt Repaid	-284M	-445M	-19.67M	-15.08M	-87.78M
Issuance of Common Stock	-	-	-	-	-
Other Financing Activities, Total	-204M	-145M	5.72M	-325M	-1.34B
Cash from Financing	-224M	330M	277M	-340M	-1.42B
Foreign Exchange Rate Adjustments	-	-	-	-	-27.95M
Net Change in Cash	12.46M	-5.14M	98.95M	-81.64M	212M
Supplemental Items
Cash Interest Paid	208M	148M	9.2M	334M	1.39B
Cash Income Tax Paid (Refund)	2.65M	-61.2K	1.84M	11.15M	76.67M
Levered Free Cash Flow	-87.06M	-707M	-1.02B	51.11M	2.7B
Unlevered Free Cash Flow	29.52M	-495M	-569M	306M	3.42B
Change In Net Working Capital	-19.41M	508M	567M	-703M	-3.03B
Net Debt Issued / Repaid	-20.29M	475M	272M	-15.08M	-87.78M

Fiscal Period: May	2020	2021	2022	2023	2024
Profitability
Return on Assets	-3.52	-3.96	-0.64	-7.22	-8.39
Return on Total Capital	-5.45	-5.82	-0.89	-11.8	-20.21
Return On Equity %	21.14	22.26	25.63	18.87	-87.7
Return on Common Equity	21.21	22.22	25.61	19.21	-82.16
Margin Analysis
Gross Profit Margin %	-7.98	-12.83	6.2	-12.52	-15.48
SG&A Margin	13.26	9.35	8.84	10.52	9.75
EBITDA Margin %	-8.21	-10.4	5.91	-7.25	-0
EBITA Margin %	-9.21	-11.23	5.34	-8.05	-1.13
EBIT Margin %	-21.05	-22.2	-2.48	-22.98	-20.48
Income From Continuing Operations Margin %	-28.17	-29.17	-22.68	-13.19	29.77
Net Income Margin %	-28.44	-29.3	-22.78	-13.52	28.73
Net Avail. For Common Margin %	-28.44	-29.3	-22.78	-13.52	28.73
Normalized Net Income Margin	-17.67	-15.61	-13.73	-7.84	18.95
Levered Free Cash Flow Margin	-15.99	-102.66	-78.18	2.48	48.96
Unlevered Free Cash Flow Margin	5.42	-71.84	-43.68	14.83	61.84
Asset Turnover
Asset Turnover	0.27	0.29	0.41	0.5	0.66
Fixed Assets Turnover	17.1	17.31	27.43	26.13	17.46
Receivables Turnover (Average Receivables)	4.08	5.84	6.98	6.12	6.82
Inventory Turnover (Average Inventory)	19.9	24.22	30.4	29.09	27.27
Short Term Liquidity
Current Ratio	0.99	0.72	2.25	1.31	0.9
Quick Ratio	0.96	0.69	2.18	1.24	0.8
Operating Cash Flow to Current Liabilities	0.12	-0.1	-0.05	0.24	0.3
Days Sales Outstanding (Average Receivables)	89.67	62.51	52.3	59.6	53.69
Days Outstanding Inventory (Average Inventory)	18.39	15.07	12.01	12.55	13.42
Average Days Payable Outstanding	113.72	96.87	71.7	88.25	117.79
Cash Conversion Cycle (Average Days)	-5.66	-19.3	-7.39	-16.1	-50.68
Long Term Solvency
Total Debt/Equity	-268.67	-292.33	-301.08	-251.91	-356.86
Total Debt / Total Capital	159.29	151.99	149.73	165.83	138.93
LT Debt/Equity	-98.02	-12.09	-247.05	-197.56	-289.65
Long-Term Debt / Total Capital	58.12	6.29	122.86	130.05	112.76
Total Liabilities / Total Assets	138.34	136.66	136.08	134.45	112.68
EBIT / Interest Expense	-0.54	-0.45	-0.04	-1.16	-0.99
EBITDA / Interest Expense	-0.16	-0.16	0.13	-0.34	0.05
(EBITDA - Capex) / Interest Expense	-0.19	-0.17	0.08	-0.49	0.01
Total Debt / EBITDA	-63.66	-55.33	42.53	-28.58	72.1
Net Debt / EBITDA	-63.25	-55.16	41.01	-28.32	66.93
Total Debt / (EBITDA - Capex)	-53.62	-52.09	66.88	-19.9	326.38
Net Debt / (EBITDA - Capex)	-53.27	-51.94	64.5	-19.72	302.98
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-23.09	26.51	89.19	58.18	33.4
Gross Profit, 1 Yr. Growth %	-22.73	103.43	-191.43	-419.4	-9.17
EBITDA, 1 Yr. Growth %	-47.05	60.32	-207.43	-294.1	-99.95
EBITA, 1 Yr. Growth %	-43.89	54.25	-190.01	-338.34	-84.94
EBIT, 1 Yr. Growth %	-21.56	33.42	-78.84	1.36K	-17.37
Earnings From Cont. Operations, 1 Yr. Growth %	-25.27	31.02	47.07	-8	471.96
Net Income, 1 Yr. Growth %	-24.85	30.34	47.11	-6.12	439.46
Normalized Net Income, 1 Yr. Growth %	-25.05	11.74	66.41	-9.7	348.6
Diluted EPS Before Extra, 1 Yr. Growth %	-24.85	30.34	47.11	-6.12	439.46
Accounts Receivable, 1 Yr. Growth %	-49.81	64.62	54.46	96.93	6.95
Inventory, 1 Yr. Growth %	-9.1	28.12	23.09	159.37	14.49
Net Property, Plant and Equip., 1 Yr. Growth %	86.07	-7.91	49.07	77.52	22.59
Total Assets, 1 Yr. Growth %	5.59	30.88	31.85	27.05	-2.38
Tangible Book Value, 1 Yr. Growth %	24.65	26.86	26.49	50.97	-14.45
Common Equity, 1 Yr. Growth %	23.68	25.07	29.69	21.67	-58.08
Cash From Operations, 1 Yr. Growth %	-173.57	-246.29	-78.99	-1.06K	66.81
Capital Expenditures, 1 Yr. Growth %	-0.94	-48.02	918.69	80.87	-66.38
Levered Free Cash Flow, 1 Yr. Growth %	-87.91	601.69	44.07	-105.02	-292.52
Unlevered Free Cash Flow, 1 Yr. Growth %	-104.91	-1.78K	15.02	-153.72	-483.27
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-4.24	-1.36	54.7	72.99	105.91
Gross Profit, 2 Yr. CAGR %	7.87	25.38	36.38	70.89	225.29
EBITDA, 2 Yr. CAGR %	-0.04	-7.87	31.23	44.4	-95.37
EBITA, 2 Yr. CAGR %	0.91	-6.97	17.83	46.47	-5.11
EBIT, 2 Yr. CAGR %	7.98	2.3	-46.86	76	491.36
Earnings From Cont. Operations, 2 Yr. CAGR %	-27	-1.05	38.81	16.32	135.93
Net Income, 2 Yr. CAGR %	-26.81	-1.03	38.47	17.52	131.24
Normalized Net Income, 2 Yr. CAGR %	-26.93	-8.48	36.36	22.58	141.96
Diluted EPS Before Extra, 2 Yr. CAGR %	-60.88	-1.03	38.47	17.52	131.24
Accounts Receivable, 2 Yr. CAGR %	22.54	-9.11	59.46	74.41	92.23
Inventory, 2 Yr. CAGR %	25.24	7.92	25.58	78.68	137.29
Net Property, Plant and Equip., 2 Yr. CAGR %	40.96	30.9	17.17	62.67	147.63
Total Assets, 2 Yr. CAGR %	32.04	17.55	31.36	29.43	51.93
Tangible Book Value, 2 Yr. CAGR %	0.78	25.75	26.67	38.19	54.88
Common Equity, 2 Yr. CAGR %	-2.76	24.37	27.36	25.62	-6.63
Cash From Operations, 2 Yr. CAGR %	-37.47	3.75	-44.56	41.98	393.1
Capital Expenditures, 2 Yr. CAGR %	-16.75	-28.24	130.1	329.24	10.17
Levered Free Cash Flow, 2 Yr. CAGR %	-63.04	-0.91	217.95	-73.11	62.95
Unlevered Free Cash Flow, 2 Yr. CAGR %	-77.24	-9.32	339.06	-21.39	145.01
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	5.34	5.07	22.55	55.85	100.18
Gross Profit, 3 Yr. CAGR %	47.49	33.27	12.85	81.11	113.08
EBITDA, 3 Yr. CAGR %	112.89	17	-3.03	49.52	-86.8
EBITA, 3 Yr. CAGR %	81.79	16.24	-7.99	49.02	-6.77
EBIT, 3 Yr. CAGR %	25.7	15.87	-39.5	60.48	94.88
Earnings From Cont. Operations, 3 Yr. CAGR %	0.06	-11.29	12.92	21.03	101.54
Net Income, 3 Yr. CAGR %	0.37	-11.29	12.95	21.65	98.88
Normalized Net Income, 3 Yr. CAGR %	0.52	-15.82	11.7	18.86	113.58
Diluted EPS Before Extra, 3 Yr. CAGR %	-33.89	-41.57	12.95	21.65	98.88
Accounts Receivable, 3 Yr. CAGR %	46.5	35.21	8.47	71.08	78.71
Inventory, 3 Yr. CAGR %	15.77	26.19	12.76	59.93	90.66
Net Property, Plant and Equip., 3 Yr. CAGR %	38.03	22.32	36.7	34.57	109.09
Total Assets, 3 Yr. CAGR %	46.81	31.65	22.14	29.91	44.92
Tangible Book Value, 3 Yr. CAGR %	14.14	8.81	25.99	34.3	44.77
Common Equity, 3 Yr. CAGR %	12.69	5.75	26.12	25.43	4.17
Cash From Operations, 3 Yr. CAGR %	0.3	-16.99	-39.08	43.4	72.22
Capital Expenditures, 3 Yr. CAGR %	19.21	-28.85	73.75	112.36	131.24
Levered Free Cash Flow, 3 Yr. CAGR %	-24.82	3.52	12.26	-20.25	56.4
Unlevered Free Cash Flow, 3 Yr. CAGR %	-44.53	-4.62	-1.84	117.97	90.42
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	11.38	4.67	22.84	28.26	50.82
Gross Profit, 5 Yr. CAGR %	5.56	21.31	42.94	47.21	72.35
EBITDA, 5 Yr. CAGR %	21.38	6.21	75.43	27.28	-71.29
EBITA, 5 Yr. CAGR %	18.83	9.62	52.84	27.5	-6.85
EBIT, 5 Yr. CAGR %	9.61	45.26	-10.92	36.96	50.59
Earnings From Cont. Operations, 5 Yr. CAGR %	-3.34	11.49	14.06	-1.13	51.63
Net Income, 5 Yr. CAGR %	-3.1	11.6	14.16	-0.73	50.44
Normalized Net Income, 5 Yr. CAGR %	-3.17	8.1	13.56	-2.16	52.17
Diluted EPS Before Extra, 5 Yr. CAGR %	-26.41	-14.69	-11.14	-22.73	50.44
Accounts Receivable, 5 Yr. CAGR %	26.95	26.83	51.55	49.7	36.37
Inventory, 5 Yr. CAGR %	12.04	20.68	19.6	45.03	51.84
Net Property, Plant and Equip., 5 Yr. CAGR %	34.05	21.27	29.27	37.09	73.37
Total Assets, 5 Yr. CAGR %	46.37	37.78	40.42	30.76	33.28
Tangible Book Value, 5 Yr. CAGR %	13.79	18.11	19	19.73	36.84
Common Equity, 5 Yr. CAGR %	13.72	19.99	18.34	13.29	11.83
Cash From Operations, 5 Yr. CAGR %	30.57	122.5	-20.88	2.89	40.62
Capital Expenditures, 5 Yr. CAGR %	14.24	-4.84	55.08	46.01	44.8
Levered Free Cash Flow, 5 Yr. CAGR %	26.18	30.12	37.81	-39.63	30.3
Unlevered Free Cash Flow, 5 Yr. CAGR %	-9.61	26.18	26.89	-11.72	41.53