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Adel Kalemcilik Ticaret ve Sanayi A.S.

Adel Kalemcilik Ticaret ve Sanayi A.S.

BBIST:ADEL
23.86
TRY
-0.18
(-0.75%)
8.26BMarket Cap
Adel Kalemcilik Ticaret ve Sanayi A.S.
BIST:ADEL
(Istanbul Exchange)

Recent

price

23.86

P/E

ratio

- -

div

yld

-0.15%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
TRY
0.43
0.52
0.61
0.72
0.85
0.97
1.05
1.24
1.48
1.34
1.51
1.87
6.45
12.57
39.6
8.08
- -
Revenue per Share
0.08
0.1
0.09
0.19
0.11
0.28
0.07
0.1
0.05
-0.06
0.01
-0.05
-0.07
2.42
0.27
-1.93
- -
Basic EPS, GAAP
0.06
-0.04
0.02
-0.06
-0.17
-0.07
0.24
0.13
-0.04
0.36
0.31
0.1
0.22
1.16
4.15
-1.36
-1.03
Free Cash Flow per Basic Share
0.03
0.04
0.04
0.05
0.08
0.05
0.12
0.07
0.08
0.08
- -
0.12
0.1
0.11
2.33
0.6
-0.04
Dividend per Share
0.29
0.35
0.4
0.55
0.57
0.79
0.75
0.79
0.73
0.63
0.56
0.51
2.67
6.17
7.3
4.68
5.29
Book Value per Share
0.29
0.35
0.4
0.54
0.55
0.78
0.74
0.78
0.7
0.6
0.53
0.46
2.49
5.73
6.85
4.12
4.73
Tangible Book Value per Share
260
260
260
260
260
260
260
260
260
260
260
260
260
260
90
260
260
Basic Weighted Avg Shares
111
136
160
186
221
252
272
322
385
347
391
486
1,675
3,265
3,550
2,100
- -
Sales/Revenue/Turnover
25.8
26.18
23.46
21.26
21.89
16.87
18.96
18.06
18.06
14.4
9.2
7.72
-1.17
15.08
11.93
-10.17
- -
Operating Margin (%)
1
2
3
4
5
8
11
12
13
16
17
17
101
157
217
169
148
Depreciation Expense
22
26
24
50
28
72
19
27
14
-15
2
-13
-19
629
24
-502
- -
Net Income, GAAP
20.15
20.23
20.83
11.29
23.08
9.62
33.99
20.37
35.24
- -
48.59
- -
- -
1.32
75.56
- -
- -
Effective Tax Rate (%)
19.51
19.07
15.3
26.69
12.69
28.42
6.93
8.33
3.59
-4.23
0.49
-2.61
-1.16
19.28
0.69
-23.93
- -
Profit Margin (%)
63
78
86
122
84
95
111
112
75
95
104
44
155
603
1,264
-72
-107
Working Capital
- -
- -
- -
19
20
- -
24
15
5
51
70
14
47
103
663
37
27
LT Debt
75
92
105
143
148
206
195
205
189
163
145
131
693
1,604
1,897
1,216
1,374
Total Equity
32.12
32.18
29.22
23.61
17.18
13.08
10.98
15.29
12.02
- -
4.1
- -
- -
22.82
3.19
- -
- -
Return on Invested Capital (%)
30.43
32.44
27.98
35.31
16.97
29.74
10.22
15.98
12.84
- -
5.31
- -
- -
45.25
6.47
- -
- -
Return on Capital (%)
31.92
31.13
24.91
40.16
19.3
40.39
9.4
13.41
7.02
-8.34
1.24
-9.18
-4.72
54.82
1.39
-32.28
- -
Return on Common Equity (%)

Capital Structure

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
1,647
1,885
2,849
LT Borrowings
- -
- -
- -
LT Finance Leases
37
36
27
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
260
260
260
Market Capitalization
8,576
10,291
8,264

Working Capital

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,808
2,113
3,231
Cash, Cash Equivalents & STI
396
296
258
Accounts Receivable, Net
154
763
1,775
Inventories
1,133
983
1,046
Total Current Liabilities
1,881
2,230
3,338
Payables & Accruals
- -
- -
- -
ST Debt
1,647
1,885
2,849
Deferred Revenue
- -
- -
- -

Growth Rates

TRY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
49.94%
106.38%
-35.91%
Free Cash Flow
-128.1%
61.51%
-195.08%
Net Income, GAAP
-670.36%
-1,260.96%
-2,158.54%
Sales/Revenue/Turnover
38.05%
66.33%
-40.85%
Total Cash Common Dividend
- -
- -
-24.97%

Quarterly Revenue

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
916
759
1,260
371
3,550
2025
363
878
- -
257
2,100
2026
823
981
- -
- -
- -

Quarterly Earnings Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.46
0.28
0.2
-0.7
0.27
2025
-1.01
0.24
- -
-1.14
-1.93
2026
-0.13
-0.06
- -
- -
- -

Quarterly Dividends Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
0.04
2.33
2025
- -
- -
- -
-0.04
0.6
2026
- -
- -
- -
- -
- -
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Business
Adel Kalemcilik Ticaret ve Sanayi A.S. is a Turkey-based manufacturer and distributor of stationery, office supplies, art materials, and educational products. Established in 1969 and headquartered in Istanbul, Turkey, the company operates as a joint venture between AG Anadolu Grubu Holding A.S. and German stationery producer Faber-Castell AG, with its shares publicly traded on the Borsa Istanbul under the ticker symbol ADEL. The company manages one of the largest stationery manufacturing facilities in the region, located in Cayirova, Kocaeli, spanning approximately 36,000 square meters with an annual production capacity exceeding 300 million units. The company designs, manufactures, imports, markets, and distributes a comprehensive portfolio comprising over 3,000 product varieties across several core categories: writing and marking instruments, including wood-cased blacklead pencils, colored pencils, ballpoint pens, liquid ink pens, gel pens, highlighters, technical drawing pens, and felt-tip markers; painting, art, and hobby supplies, including watercolor sets, gouache paints, acrylic paints, oil and soft pastels, finger paints, modeling clays, and playdough; desktop and school stationery, including vinyl and plastic erasers, mechanical pencil leads, sharpeners, rulers, correction fluids and tapes, scissors, and adhesive tapes; and office equipment and accessories, including financial calculators, staplers, punches, and file organization supplies. The company commercializes its products under proprietary and licensed brand portfolios, including Adel, Faber-Castell, Graf von Faber-Castell, Adeland, Atlas, Max, Panfix, and Citizen. Adel Kalemcilik serves domestic wholesale, retail, and commercial channels across Turkey and exports its products to more than 30 international markets throughout Europe, the Middle East, Africa, and Central Asia. In recent operational and corporate developments, Adel Kalemcilik executed key executive leadership transitions, including the appointment of former Supply Chain Director Zulfu Tunc as General Manager in August 2026, succeeding Oguz Ucanlar. The company has accelerated capital investments in digital supply chain transformation, manufacturing automation, and industrial sustainability initiatives at its Cayirova plant. These operational enhancements encompass waste-to-energy conversion systems utilizing byproduct wood dust for thermal plant operations, targeted energy-efficiency modernizations under International Renewable Energy Certificate (I-REC) standards, and the dedicated allocation of approximately 20 percent of research and development expenditures toward eco-friendly product formulation and sustainable packaging solutions.