ICU Girisim Sermayesi Yatirim Ortakligi A.S.

ICU Girisim Sermayesi Yatirim Ortakligi A.S.

BBIST:ICUGS
1.17
TRY
-0.01
(-0.85%)
0.26EPS
11.10P/E
1.01BMarket Cap
ICU Girisim Sermayesi Yatirim Ortakligi A.S.
BIST:ICUGS
(Istanbul Exchange)

Recent

price

1.17

P/E

ratio

11.10

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
TRY
0.09
0.14
0.07
0.02
- -
- -
- -
0.2
- -
0.01
- -
- -
- -
0.09
0.12
- -
0.55
Revenue per Share
-0.07
-0.11
-0.05
-0.04
-0.02
-0.08
-0.04
0.04
- -
- -
- -
-0.01
-0.05
-0.05
-0.19
-0.57
0.26
Basic EPS, GAAP
-0.16
-0.22
-0.07
-0.05
-0.02
- -
0.01
- -
-0.01
-0.01
-0.01
-0.07
0.04
-0.01
-0.39
- -
0.45
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
0.16
0.25
0.2
0.16
0.2
0.12
0.08
0.12
0.12
0.12
0.12
0.11
0.26
0.32
1.78
1.21
- -
Book Value per Share
0.04
0.2
0.15
0.13
0.2
0.12
0.08
0.12
0.12
0.12
0.12
0.11
0.26
0.32
1.78
1.21
- -
Tangible Book Value per Share
56
122
208
208
208
208
208
208
208
208
208
208
208
208
348
348
348
Basic Weighted Avg Shares
5
17
14
5
- -
1
- -
42
- -
3
- -
- -
- -
19
40
- -
190
Sales/Revenue/Turnover
-102.02
-7.63
-14.17
-217.12
-7,179.57
-1,464.61
-14,875.55
70.47
- -
7.81
- -
- -
- -
-2.5
-40.1
- -
67.49
Operating Margin (%)
1
2
2
1
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
-4
-14
-10
-9
-4
-16
-9
8
1
1
-1
-3
-11
-11
-66
-198
91
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
5.4
Effective Tax Rate (%)
-76.03
-80.58
-69.03
-184.45
-8,236.59
-2,339.26
-19,798.56
19.92
- -
19.26
- -
- -
- -
-56.13
-162.85
- -
48.06
Profit Margin (%)
1
1
-4
21
19
11
6
22
24
25
24
6
7
216
-32
-47
- -
Working Capital
1
2
2
- -
- -
2
1
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
LT Debt
14
52
40
33
42
26
17
24
25
26
25
22
54
66
618
421
- -
Total Equity
- -
- -
- -
- -
- -
- -
- -
-84.72
-0.95
-7.41
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
42.82
7.63
5.27
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
-41.8
-41.26
-20.74
-23.75
-11.68
-46.34
-41.29
40.46
4.14
1.99
-3.48
-12.77
-29.64
-17.75
-19.21
-38.19
- -
Return on Common Equity (%)

Capital Structure

TRY

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
54
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
348
348
348
Market Capitalization
1,821
893
1,011

Working Capital

TRY

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
31
- -
- -
Cash, Cash Equivalents & STI
121
- -
- -
Accounts Receivable, Net
150
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
63
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
54
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

TRY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
96.67%
191.13%
-31.84%
Free Cash Flow
539.28%
1,169.04%
-99.1%
Net Income, GAAP
57.75%
245.38%
201.81%
Sales/Revenue/Turnover
- -
- -
-100%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
64
29
161
40
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Quarterly Earnings Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.04
-0.03
-0.07
0.34
-0.19
2025
-0.02
0.01
- -
- -
-0.57
2026
-0.06
-0.03
- -
- -
- -

Quarterly Dividends Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
Business
ICU Girisim Sermayesi Yatirim Ortakligi A.S. is a Turkey-based venture capital investment trust engaged in providing equity financing, venture capital, and strategic management support to high-growth potential companies and micro-, small-, and medium-sized enterprises (MSMEs). Founded in 1996 and headquartered in Izmir, Turkey, the company operates under Capital Markets Board of Turkey (CMB) regulations as a publicly traded closed-end fund listed on Borsa Istanbul under the ticker ICUGS. The company offers a comprehensive range of investment, financing, and corporate development solutions, including direct equity investments; minority and majority stake acquisitions; mezzanine financing and hybrid debt-equity capital; project financing; seed, early-stage, and growth capital funding; corporate governance and strategic management consulting; operational restructuring and financial advisory; business development and market expansion support; pre-initial public offering (pre-IPO) preparation; and structured exit execution through secondary buyouts, trade sales, and public listings. ICU Girisim focuses its investment activities across sectors such as medical devices and healthcare, battery management and energy storage, clean technology and environmental recycling, software, and financial technology. Its portfolio assets include Seta Tibbi Cihazlar Ithalat ve Ihracat Pazarlama Ticaret ve Sanayi A.S. in medical equipment; Batkon Batarya Kontrol Teknolojileri A.S. in battery control technologies; Netsafe Teknolojik Yatirimlar A.S. in technology ventures; Laska Teknoloji A.S. in sustainable energy and circular economy solutions; and OEP Turkey Tech B.V. In recent developments, the company executed a major corporate rebranding and reorganization, officially changing its commercial title from Rhea Girisim Sermayesi Yatirim Ortakligi A.S. to ICU Girisim Sermayesi Yatirim Ortakligi A.S. to reflect a renewed strategic focus on advanced technology, energy transition, and healthcare ventures. As part of an ongoing portfolio rationalization and capital optimization initiative, the board of directors authorized management to initiate negotiations for the strategic divestment of select holdings, including Netsafe Teknolojik Yatirimlar A.S. and Laska Teknoloji A.S. Concurrently, the firm expanded its technology ecosystem exposure through fintech partnerships and investments such as Plodsi Finansal Teknolojiler and Angel Effect platform participation, while portfolio firm Batkon secured patent registrations and pursued commercial supply agreements within the energy distribution sector.