1. Türkiye Stocks

  2. •

    Consumer Defensive

  3. •

    Beverages - Alcoholic
Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi

Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi

AEFES.IS
Anadolu Efes Biracilik ve Malt Sanayii Anonim SirketiTR flagIstanbul Stock Exchange
20.22
TRY
-0.28
- -
119.72BMarket Cap
Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi
AEFES.IS
(Istanbul Stock Exchange)

Recent

price

20.22

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
0.93
1.06
0.76
1.55
1.69
1.72
1.76
2.15
3.16
3.9
4.52
6.63
26.19
38.98
51.14
41.18
30.74
Revenue per Share
0.12
0.08
0.11
0.44
-0.09
-0.03
-0.01
0.03
- -
0.17
0.14
0.18
2.6
5.4
2.9
1.51
0.58
Basic EPS, GAAP
0.11
0.02
0.04
0.02
0.09
0.12
0.18
0.23
0.2
0.39
0.54
0.84
0.92
3.23
2.97
2.54
2.39
Free Cash Flow per Basic Share
0.04
0.05
0.04
0.05
- -
0.05
0.03
0.03
0.06
0.08
0.1
0.37
0.5
0.55
0.66
0.45
0.43
Dividend per Share
0.57
0.58
0.55
0.91
0.83
0.74
0.7
0.68
0.81
0.98
1.12
1.29
7.15
14.31
21.62
23.87
26.51
Book Value per Share
0.35
0.41
0.59
0.4
0.4
0.4
0.54
0.61
0.74
0.82
0.77
0.45
2.88
5.81
8.34
14
14.88
Tangible Book Value per Share
4,500
4,500
5,665
5,921
5,921
5,921
5,921
5,921
5,921
5,921
5,921
5,921
5,921
5,921
5,921
5,921
5,921
Basic Weighted Avg Shares
4,169
4,761
4,320
9,196
10,021
10,205
10,420
12,732
18,690
23,077
26,743
39,284
155,060
230,829
302,825
243,847
182,042
Sales/Revenue/Turnover
16.73
12.61
12.39
8.2
9.48
9.61
9.02
9.79
7.43
9.7
11.06
11.58
11.46
12.93
11.75
10.78
9.11
Operating Margin (%)
301
336
350
712
727
737
791
932
1,497
1,743
2,073
2,399
8,612
10,931
14,993
13,153
9,636
Depreciation Expense
518
341
610
2,609
-512
-198
-71
149
-12
1,034
815
1,068
15,384
31,950
17,169
8,957
3,443
Net Income, GAAP
21.28
22.69
16.56
1.7
- -
- -
175.63
36.72
73.7
33.32
29.52
37.75
22.86
19.08
24.69
32.29
46.95
Effective Tax Rate (%)
12.44
7.17
14.12
28.37
-5.11
-1.94
-0.68
1.17
-0.06
4.48
3.05
2.72
9.92
13.84
5.67
3.67
1.89
Profit Margin (%)
384
699
1,252
1,812
1,964
2,317
3,322
3,279
2,293
2,987
3,180
142
16,567
16,792
18,286
3,387
3,134
Working Capital
768
1,304
1,302
3,535
3,631
4,639
5,682
5,464
7,137
8,253
9,180
14,772
42,350
52,504
61,043
57,024
60,375
LT Debt
2,815
3,207
6,772
13,462
11,824
12,574
14,817
15,666
21,322
24,380
25,015
39,332
134,725
187,516
222,212
219,004
235,847
Total Equity
11.93
9.1
6.02
5.24
- -
- -
-3.56
3.41
1.31
4.46
5.59
5.59
10.28
9.92
8.64
5.4
2.81
Return on Invested Capital (%)
16.16
8.16
12.59
25.34
- -
- -
-1.71
0.94
0.11
4.45
2.19
1.12
10.7
10.59
5.9
3.95
1.62
Return on Capital (%)
21.57
13.21
21.31
61.27
-9.95
-4.26
-1.66
3.67
-0.27
19.56
13.11
14.96
61.5
50.28
16.14
6.65
2.58
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
35,963
36,230
LT Borrowings
- -
54,518
57,474
LT Finance Leases
- -
2,506
2,900
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
5,921
5,921
Market Capitalization
81,888
93,020
99,355

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
109,123
118,821
Cash, Cash Equivalents & STI
- -
37,174
32,113
Accounts Receivable, Net
- -
26,933
40,630
Inventories
- -
28,997
30,664
Total Current Liabilities
- -
105,736
115,686
Payables & Accruals
- -
- -
- -
ST Debt
- -
35,963
36,230
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
43.26%
71.2%
-1.44%
Free Cash Flow
48.5%
58.4%
-14.51%
Net Income, GAAP
-807.06%
276.95%
-47.83%
Sales/Revenue/Turnover
51.26%
80.44%
-19.48%
Total Cash Common Dividend
41.82%
59.68%
-32.17%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
60,160
81,716
82,902
51,818
302,825
2025
58,033
64,393
- -
55,225
243,847
2026
62,425
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.73
0.9
1.26
- -
2.9
2025
0.38
0.69
- -
- -
1.51
2026
0.34
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.57
0.06
- -
0.66
2025
- -
0.4
- -
- -
0.45
2026
- -
- -
- -
- -
- -
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Business
Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi is a leading beverage company primarily engaged in the production, marketing, and distribution of beer and malt beverages across a broad geographic footprint including Türkiye, Russia, Ukraine, Kazakhstan, Moldova, and Georgia. Founded in 1969 and headquartered in Istanbul, the company manufactures and sells over 100 beer brands, including its flagship Efes Pilsen, and produces non-alcoholic malt beverages under various brand names. Anadolu Efes also operates through subsidiaries like Coca-Cola İçecek A.Ş., managing Coca-Cola operations in Türkiye and neighboring regions, serving a consumer base exceeding 890 million people. The company’s core product portfolio encompasses beer, malt beverages, and soft drinks, complemented by recently expanded offerings in the spirits category. In 2025, Anadolu Efes acquired a 60% stake in Tariş Üzüm, a leading Turkish producer of raki with the flagship Mercan brand, broadening its presence in the spirits market. This acquisition aligns with its strategic shift to diversify beyond beer into adjacent alcoholic beverage segments. Additionally, Anadolu Efes entered a strategic partnership with William Grant & Sons to oversee the sales, marketing, and distribution of spirits in Türkiye, while reorganizing its spirits operations under a joint framework with its parent company Anadolu Group to enhance operational efficiency. Recent operational changes include a coaching leadership shift at Anadolu Efes Sports Club and continuous product innovation through expanding brand reach and partnerships, such as a notable collaboration with sportswear brand GSA Sport. Anadolu Efes remains one of Europe’s largest brewers by production volume and continues to be a prominent exporter to more than 70 countries worldwide. The company maintains a strong emphasis on regional market leadership through its manufacturing facilities and distribution networks, employing over 8,000 people and adhering to a growth strategy focused on expanding product categories and geographic penetration.