Bulls Girisim Sermayesi Yatirim Ortakligi Anonim Sirketi

Bulls Girisim Sermayesi Yatirim Ortakligi Anonim Sirketi

BBIST:BULGS
7.72
TRY
-0.85
(-9.92%)
6.71EPS
6.74P/E
12.12BMarket Cap
Bulls Girisim Sermayesi Yatirim Ortakligi Anonim Sirketi
BIST:BULGS
(Istanbul Exchange)

Recent

price

7.72

P/E

ratio

6.74

div

yld

- -

ROIC.AI

2021
2022
2023
2024
2025
TTM
TRY
0.23
0.96
2.39
16.02
7.4
8.16
Revenue per Share
0.14
-0.01
6.73
6.76
6.1
6.71
Basic EPS, GAAP
-0.07
0.58
7.11
7.48
1.76
5.24
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
Dividend per Share
0.51
0.72
8.71
18.16
27.93
30.06
Book Value per Share
0.51
0.72
8.71
18.16
27.9
30.04
Tangible Book Value per Share
268
268
268
268
268
268
Basic Weighted Avg Shares
61
258
640
4,294
1,982
2,187
Sales/Revenue/Turnover
8.14
6.05
40.12
68.49
27.5
28.56
Operating Margin (%)
1
2
5
11
7
9
Depreciation Expense
36
-2
1,803
1,812
1,635
1,799
Net Income, GAAP
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
59.37
-0.66
281.51
42.19
82.51
82.26
Profit Margin (%)
27
72
42
68
1,201
1,122
Working Capital
5
3
7
16
- -
8
LT Debt
136
192
2,334
4,866
7,484
8,057
Total Equity
- -
- -
144.63
85.71
31.58
35.12
Return on Invested Capital (%)
- -
- -
141.95
50.23
26.44
28.45
Return on Capital (%)
- -
-1.04
142.79
50.32
26.48
28.48
Return on Common Equity (%)

Capital Structure

TRY

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
7
7
7
LT Borrowings
- -
- -
- -
LT Finance Leases
1
- -
8
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
268
268
268
Market Capitalization
8,844
11,738
12,124

Working Capital

TRY

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
1,163
1,211
1,132
Cash, Cash Equivalents & STI
1,144
1,191
1,106
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
8
10
10
Payables & Accruals
- -
- -
- -
ST Debt
7
7
7
Deferred Revenue
- -
- -
- -

Growth Rates

TRY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
- -
53.79%
Free Cash Flow
- -
- -
-76.52%
Net Income, GAAP
- -
- -
-9.73%
Sales/Revenue/Turnover
- -
- -
-53.84%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,047
132
1,712
216
4,294
2025
106
93
921
868
1,982
2026
304
- -
- -
- -
- -

Quarterly Earnings Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
6.33
-1.71
-0.14
-0.08
6.76
2025
-1.67
2.4
2.23
2.75
6.1
2026
-0.67
- -
- -
- -
- -

Quarterly Dividends Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
Business
Bulls Girisim Sermayesi Yatirim Ortakligi Anonim Sirketi is a Turkey-based venture capital investment trust engaged in equity investments, portfolio management, and strategic growth financing for high-potential technology and industrial enterprises. Founded in 2020 and headquartered in Istanbul, Turkey, the company operates as a specialized investment institution regulated by the Capital Markets Board of Turkey and functions as part of Bulls Yatirim Holding. Bulls Girisim Sermayesi Yatirim Ortakligi operates across several core investment segments, providing direct equity investments, seed and early-stage capital, growth and expansion financing, and mezzanine debt structuring; comprehensive corporate governance advisory, strategic management consulting, and operational scaling support; incubation and acceleration partnerships; syndicated investment facilitation and venture capital investment fund management; and structured portfolio exit strategies, including secondary market sales, trade sales, and initial public offerings. The company targets emerging enterprises across diverse sectors, focusing on financial technology, artificial intelligence, enterprise software, healthcare and biotechnology, defense technology, renewable energy, e-commerce, and sustainable urban mobility. While its primary operations and investment portfolio are based in Turkey, the company engages in cross-border partnerships and co-investment initiatives across European and Middle Eastern markets. In recent operational developments, the company completed its initial public offering and listed its shares on Borsa Istanbul under the ticker symbol BULGS, significantly expanding its institutional capital base. The firm has executed substantial capital increases to fund expanding portfolio commitments, entered strategic alliances with domestic and international investment managers to establish specialized venture capital investment funds, and accelerated capital deployment through new and follow-on equity investments in high-growth technology, clean energy, micromobility, and healthtech ventures.