FUZUL GAYRIMENKUL YATIRIM ORTAKLIGI A.S.

FUZUL GAYRIMENKUL YATIRIM ORTAKLIGI A.S.

BBIST:FZLGY
3.93
TRY
-0.37
(-8.60%)
-0.69EPS
17.18BMarket Cap
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.22
0.46
0.21
3.18
3.78
1.06
3.14
Basic EPS, GAAP
-0.02
0.23
0.48
0.28
-1.07
-0.34
-0.69
Free Cash Flow per Basic Share
0.03
0.45
-1.05
-0.86
-0.86
-0.8
-0.09
Dividend per Share
- -
- -
- -
0.07
0.72
- -
- -
Book Value per Share
0.18
0.33
1.49
3.15
3.61
3.27
3.43
Tangible Book Value per Share
0.18
0.32
1.49
3.15
3.61
3.27
3.42
Basic Weighted Avg Shares
1,250
1,250
1,250
1,250
318
1,250
1,250
Sales/Revenue/Turnover
272
571
268
3,971
1,202
1,327
3,925
Operating Margin (%)
-13.73
15.68
19.63
28.81
-13.27
0.95
-5.1
Depreciation Expense
- -
- -
7
8
8
4
3
Net Income, GAAP
-31
293
605
356
-340
-425
-864
Effective Tax Rate (%)
- -
8.32
5.24
- -
- -
- -
- -
Profit Margin (%)
-11.35
51.28
225.67
8.95
-28.28
-32.06
-22
Working Capital
40
43
1,624
5,083
8,583
10,516
6,885
LT Debt
9
152
10
99
74
223
167
Total Equity
228
486
1,864
3,937
4,518
4,092
4,282
Return on Invested Capital (%)
- -
16.29
6.91
- -
- -
- -
- -
Return on Capital (%)
- -
53.97
47.63
- -
- -
- -
- -
Return on Common Equity (%)
- -
92.04
53.29
12.28
-8.05
-9.89
-20.36

Capital Structure

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
986
1,745
1,162
LT Borrowings
220
195
167
LT Finance Leases
3
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,250
1,250
1,250
Market Capitalization
16,100
18,575
17,175

Working Capital

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
12,741
12,513
9,431
Cash, Cash Equivalents & STI
64
424
141
Accounts Receivable, Net
209
529
376
Inventories
10,715
9,651
7,284
Total Current Liabilities
2,225
2,832
2,546
Payables & Accruals
- -
- -
- -
ST Debt
986
1,745
1,162
Deferred Revenue
- -
- -
- -

Growth Rates

TRY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
102.68%
-9.42%
Free Cash Flow
- -
274.97%
266.58%
Net Income, GAAP
- -
-230.69%
25.09%
Sales/Revenue/Turnover
- -
275.96%
10.34%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
247
721
47
90
1,202
2025
52
66
21
1,207
1,327
2026
1,580
1,118
- -
- -
- -

Quarterly Earnings Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.05
-0.27
-0.07
0.02
-1.07
2025
0.09
0.09
0.04
-0.53
-0.34
2026
-0.02
-0.18
- -
- -
- -

Quarterly Dividends Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.13
- -
- -
0.03
0.72
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

CEO
Murat Altai
Full Time Employees
61
Sector
Consumer durables
Industry
Homebuilding
Address
Basaksehir Turkey
IPO Date
Jul 28, 2023
Business
Fuzul Gayrimenkul Yatirim Ortakligi A.S. is a Turkey-based real estate investment trust engaged in property investment, real estate development, portfolio management, and project execution. Founded in 2000 as part of Fuzul Holding and headquartered in Istanbul, Turkey, the company focuses on the development, marketing, and management of residential, commercial, and mixed-use real estate assets across major metropolitan areas in Turkey, with operations concentrated in Istanbul. The company operates through several core business segments and provides a comprehensive portfolio of real estate products and services, including: residential property development, comprising master-planned communities, luxury condominiums, branded residences, and multi-family residential complexes such as Barbaros 48, Basaksehir Avrasya, Basakport, Tem Avrasya, and Evila; commercial real estate development, including shopping centers, retail strip malls, and corporate office properties, anchored by assets such as the Olimpa Shopping Mall; land banking and property portfolio management, encompassing the acquisition, zoning, appraisal, and strategic development of urban land plots; leasing and asset management operations, generating recurring rental income from retail storefronts, office units, and social infrastructure spaces; and project development partnerships, structured primarily through revenue-sharing models and public-private collaborations with institutional entities including Emlak Konut GYO and TOKI. In recent developments, the company completed its initial public offering on Borsa Istanbul under the ticker symbol FZLGY, allocating capital proceeds toward project financing and strategic land acquisitions. Fuzul Gayrimenkul Yatirim Ortakligi has also accelerated its development pipeline through high-value urban residential launches in central Istanbul districts including Besiktas and Topkapi, secured new revenue-sharing and public tender partnerships, and expanded its focus on sustainable, energy-efficient building standards across its portfolio.