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GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS

GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS

BBIST:GSDDE
9.50
TRY
-0.36
(-3.65%)
3.47EPS
3.54P/E
1.85BMarket Cap
GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS
BIST:GSDDE
(Istanbul Exchange)

Recent

price

9.50

P/E

ratio

3.54

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
TRY
0.21
0.05
- -
0.06
0.09
0.14
0.31
0.58
0.75
0.41
0.42
2
3.43
2.5
4.8
3.94
4.26
Revenue per Share
0.08
0.06
0.01
-0.04
-0.04
-0.07
-0.27
-0.15
0.35
-0.06
-0.16
1.56
0.42
-2.94
-0.3
1.26
3.47
Basic EPS, GAAP
0.42
0.12
-0.13
-0.7
-0.41
0.14
-0.01
0.34
0.73
0.21
0.15
1.99
1.61
-1.48
0.48
0.87
-0.5
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
0.95
1
1.02
1.48
0.9
0.91
0.94
0.9
1.29
1.39
1.6
4.02
11.6
16.17
19.4
18.54
22.85
Book Value per Share
0.95
1
1.02
1.48
0.9
0.91
0.94
0.9
1.29
1.39
1.6
4.02
11.6
16.17
19.39
18.54
22.85
Tangible Book Value per Share
62
62
129
129
224
219
106
102
102
101
105
89
150
150
150
148
148
Basic Weighted Avg Shares
13
3
- -
8
21
32
33
59
76
41
45
179
514
375
720
585
632
Sales/Revenue/Turnover
129.1
5.59
- -
-69.74
-8.91
-20.84
-32.99
5.47
17.65
3.03
-14.49
60.66
57.12
5.32
27.43
22.44
35.17
Operating Margin (%)
- -
- -
- -
3
7
14
18
18
21
15
19
26
82
122
158
133
105
Depreciation Expense
5
3
1
-5
-9
-15
-28
-16
36
-6
-17
139
62
-440
-45
187
515
Net Income, GAAP
7.01
- -
5.55
- -
- -
- -
- -
- -
4.71
- -
- -
5.7
- -
- -
- -
- -
- -
Effective Tax Rate (%)
38.37
121.74
- -
-66.94
-40.31
-48.18
-85.71
-26.15
46.77
-13.91
-38.44
77.96
12.14
-117.57
-6.28
31.99
81.47
Profit Margin (%)
59
- -
25
3
5
1
-101
- -
-4
-45
-93
257
863
471
750
1,064
2,233
Working Capital
9
- -
- -
54
139
174
142
256
79
52
9
199
396
447
750
1,117
1,156
LT Debt
59
62
63
92
97
99
96
92
131
140
173
604
1,740
2,425
2,909
2,781
3,427
Total Equity
7.6
- -
0.64
- -
- -
- -
- -
- -
5.27
- -
- -
25.82
- -
- -
- -
- -
- -
Return on Invested Capital (%)
8.12
- -
2.17
- -
- -
- -
- -
- -
15.08
- -
- -
25.62
- -
- -
- -
- -
- -
Return on Capital (%)
8.92
5.77
2.06
-6.52
-9.03
-15.52
-29.07
-16.48
31.91
-4.24
-10.93
35.86
5.33
-21.14
-1.7
6.58
17.4
Return on Common Equity (%)

Capital Structure

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
267
262
280
LT Borrowings
1,117
1,113
1,156
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
150
150
150
Market Capitalization
1,541
1,418
1,845

Working Capital

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,384
1,415
2,551
Cash, Cash Equivalents & STI
1,323
1,355
2,506
Accounts Receivable, Net
4
18
4
Inventories
30
14
4
Total Current Liabilities
320
292
318
Payables & Accruals
- -
- -
- -
ST Debt
267
262
280
Deferred Revenue
- -
- -
- -

Growth Rates

TRY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
55.77%
98.4%
-4.42%
Free Cash Flow
-388.41%
165.19%
76.63%
Net Income, GAAP
-258.22%
-475.33%
-513.61%
Sales/Revenue/Turnover
60.94%
106.97%
-18.75%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
171
157
182
140
720
2025
132
160
148
191
585
2026
158
135
- -
- -
- -

Quarterly Earnings Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.35
-0.26
0.38
- -
-0.3
2025
-0.55
-0.35
-0.2
2.2
1.26
2026
-0.44
1.88
- -
- -
- -

Quarterly Dividends Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS is a Turkey-based maritime transportation, real estate, and investment holding company primarily engaged in international dry bulk maritime shipping and logistics services. Operating as a subsidiary of GSD Holding AS, the company conducts its core shipping operations directly and through specialized maritime subsidiaries and special purpose vehicles, including GSD Shipping BV, Cano Maritime Limited, Nehir Maritime Limited, and Hako Maritime Limited. The company provides international sea freight transportation across global ocean trade routes; time charter and voyage charter operations; commercial and technical ship management; dry bulk commodity transportation, including iron ore, coal, grains, fertilizers, bauxite, steel products, and agricultural commodities; fleet operation and vessel maintenance; and real estate investment and construction development projects. GSD Denizcilik operates a modern fleet of dry bulk carriers, primarily comprised of Handysize, Supramax, and Ultramax vessels deployed on worldwide trading routes connecting Europe, Asia, the Americas, and the Middle East. In recent developments, GSD Denizcilik has actively executed a strategic fleet modernization and renewal program to expand cargo capacity and enhance environmental compliance. This strategy has included entering into shipbuilding contracts with Japan-based Nihon Shipyard (NSY Group) across 2024, 2025, and 2026 for the construction and acquisition of multiple fuel-efficient 64,000 DWT Ultramax bulk carriers scheduled for delivery between 2028 and 2029. Additionally, the company took delivery of the 42,350 DWT bulk carrier M/V Guzide and completed the strategic divestment of older tonnage, including the vessel M/V Hako, to optimize operational efficiency and fleet age profile. Founded on August 28, 1992, and formerly known as Tekstil Finansal Kiralama AS prior to its operational reorganization into maritime transport in 2011, GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS is headquartered in Istanbul, Turkey, and is listed on Borsa Istanbul under the ticker symbol GSDDE.