Ahes Gayrimenkul Yatirim Ortakligi AS

Ahes Gayrimenkul Yatirim Ortakligi AS

BBIST:AHSGY
5.50
TRY
-0.17
(-3.00%)
4.07EPS
4.91P/E
14.42BMarket Cap
Ahes Gayrimenkul Yatirim Ortakligi AS
BIST:AHSGY
(Istanbul Exchange)

Recent

price

5.50

P/E

ratio

4.91

div

yld

- -

ROIC.AI

2021
2022
2023
2024
2025
TTM
TRY
0.05
0.06
0.05
0.16
0.73
0.69
Revenue per Share
0.33
0.41
2.35
-0.38
4.33
4.07
Basic EPS, GAAP
0.28
0.22
-0.08
-0.33
0.49
0.16
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
Dividend per Share
2.44
2.85
5.93
- -
12.73
14.84
Book Value per Share
2.44
2.85
5.93
- -
12.73
14.84
Tangible Book Value per Share
722
722
722
722
722
739
Basic Weighted Avg Shares
37
41
37
115
524
511
Sales/Revenue/Turnover
910.75
996.02
65.14
58.51
74.61
76.55
Operating Margin (%)
- -
- -
- -
- -
- -
- -
Depreciation Expense
236
295
1,695
-272
3,125
3,007
Net Income, GAAP
29.68
28
- -
- -
33.03
35.01
Effective Tax Rate (%)
645.95
720.66
4,531.31
-236.26
596.53
588.11
Profit Margin (%)
151
113
-6
- -
1,531
1,797
Working Capital
78
4
- -
- -
- -
- -
LT Debt
1,762
2,057
4,276
- -
9,184
10,704
Total Equity
- -
14.33
- -
- -
- -
24.77
Return on Invested Capital (%)
- -
15.52
- -
- -
- -
37.21
Return on Capital (%)
- -
15.42
53.54
- -
- -
37.2
Return on Common Equity (%)

Capital Structure

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
722
722
722
Market Capitalization
12,063
13,456
14,423

Working Capital

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,573
1,700
1,844
Cash, Cash Equivalents & STI
1,227
1,139
1,009
Accounts Receivable, Net
20
23
24
Inventories
271
309
328
Total Current Liabilities
42
45
47
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

TRY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
- -
- -
Free Cash Flow
- -
- -
-249.8%
Net Income, GAAP
- -
- -
-1,249.27%
Sales/Revenue/Turnover
- -
- -
355.18%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
10
9
13
- -
115
2025
44
72
328
99
524
2026
42
42
- -
- -
- -

Quarterly Earnings Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.07
0.04
0.07
- -
-0.38
2025
-0.02
0.14
1.49
2.75
4.33
2026
-0.09
0.02
- -
- -
- -

Quarterly Dividends Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
Business
Ahes Gayrimenkul Yatirim Ortakligi AS (AHSGY.IS) is a Turkey-based real estate investment trust that invests in, develops, constructs, leases, sells, and manages residential, commercial, hotel, and mixed-use properties; operates in property development, investment, and management segments; and engages in construction, contracting, and engineering activities focused on hotels, business centers, schools, education facilities, multifamily buildings, valley houses, and commercial projects such as those in Gaziosmanpaşa, Çamlıca, Pendik, and Gebze. The company, founded in 2012 by Süleyman Ekşi and headquartered in Istanbul's Üsküdar district at Kisikli Mah. Alemdag Cad. No. 53 AHES Is Merkezi D Blok, primarily serves the Turkish market as a member of the Ahes Group active in construction, mining, iron and steel, and tourism. In recent developments, Ahes GYO completed its initial public offering on Borsa İstanbul's Yıldız Pazar in August 2024 at a share price of 25.20 lira, raising approximately 1.26 billion lira through the sale of 50 million new shares representing 25.64% of capital, with trading commencing on August 29, 2024; and in November 2025 announced a 270% bonus issue from internal resources, increasing paid-in capital from 195 million lira to 721.5 million lira effective December 1, 2025 to align portfolio growth with strengthened equity.