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Kartonsan Karton Sanayi ve Ticaret Anonim Sirketi

Kartonsan Karton Sanayi ve Ticaret Anonim Sirketi

BBIST:KARTN
79.70
TRY
-2.00
(-2.45%)
-6.84EPS
11.70BMarket Cap
Kartonsan Karton Sanayi ve Ticaret Anonim Sirketi
BIST:KARTN
(Istanbul Exchange)

Recent

price

79.70

P/E

ratio

- -

div

yld

0.00%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
TRY
2.29
2.82
2.76
2.99
2.66
3.59
4.27
6.39
8.49
9.83
11.99
21.18
87.4
47.75
67.55
53.59
52.47
Revenue per Share
0.23
0.49
0.36
0.48
0.26
0.29
0.04
0.51
1.51
1.08
1.83
5.05
7.16
-11.94
-11.37
-15.49
-6.84
Basic EPS, GAAP
0.26
0.22
0.53
0.53
0.44
-0.27
0.43
0.74
1
0.31
1.42
3.9
-4.22
-5.7
-15.08
-10.98
-9.53
Free Cash Flow per Basic Share
0.05
0.04
0.12
0.09
0.12
- -
- -
0.12
0.24
0.43
0.25
0.81
3.77
5.49
0.02
0.02
- -
Dividend per Share
2.26
2.71
2.95
3.33
3.47
3.75
3.78
4.17
5.43
6.08
7.65
11.83
44.02
45.9
48.44
32.97
38.93
Book Value per Share
2.26
2.71
2.95
3.32
3.44
3.73
3.77
4.16
5.37
6.02
7.6
11.77
43.75
45.56
48.04
32.63
38.55
Tangible Book Value per Share
75
75
75
75
75
75
75
75
75
75
75
75
75
75
75
75
75
Basic Weighted Avg Shares
172
211
207
224
200
270
320
479
637
737
899
1,589
6,555
3,581
5,066
4,019
3,935
Sales/Revenue/Turnover
10.53
17.57
13.09
10.02
-0.84
0.71
1.75
10.9
19.81
11.19
17.12
22.77
18.55
-31.8
-19.12
-39.07
-33.56
Operating Margin (%)
11
11
11
10
13
25
26
26
27
31
31
39
254
407
548
464
453
Depreciation Expense
18
37
27
36
19
22
3
38
114
81
137
379
537
-896
-853
-1,162
-513
Net Income, GAAP
20.12
20.73
20.14
20.3
- -
- -
34.17
19.44
14.75
5.12
20.56
19.43
39.56
- -
- -
- -
- -
Effective Tax Rate (%)
10.22
17.49
13.06
15.96
9.72
8.05
0.91
8.01
17.82
11.03
15.27
23.86
8.19
-25.01
-16.83
-28.9
-13.03
Profit Margin (%)
86
125
140
118
21
48
71
117
202
228
320
554
1,689
714
592
66
600
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
- -
3
5
5
6
10
12
536
320
LT Debt
170
203
221
250
260
281
284
313
408
456
574
888
3,303
3,444
3,635
2,474
2,921
Total Equity
8.84
15.74
11
9.75
- -
- -
2.42
14.2
30.37
19.66
24.43
40.01
35.74
- -
- -
- -
- -
Return on Invested Capital (%)
13.08
20.69
13.7
16.03
- -
- -
1.53
13.08
32.35
19.65
26.97
52.38
26.63
- -
- -
- -
- -
Return on Capital (%)
10.79
19.81
12.75
15.2
7.62
8.01
1.03
12.88
31.51
18.84
26.66
51.88
25.63
-26.56
-24.1
-38.05
-18.37
Return on Common Equity (%)

Capital Structure

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
481
524
459
LT Borrowings
528
567
314
LT Finance Leases
9
6
6
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
75
75
75
Market Capitalization
5,820
4,658
11,700

Working Capital

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,279
1,245
1,681
Cash, Cash Equivalents & STI
69
44
345
Accounts Receivable, Net
330
381
499
Inventories
796
766
771
Total Current Liabilities
1,212
1,218
1,081
Payables & Accruals
- -
- -
- -
ST Debt
481
524
459
Deferred Revenue
- -
- -
- -

Growth Rates

TRY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
38.36%
60.92%
-31.92%
Free Cash Flow
28%
27.92%
-27.18%
Net Income, GAAP
135.5%
-3.52%
36.26%
Sales/Revenue/Turnover
50.38%
72.95%
-20.67%
Total Cash Common Dividend
1,645.46%
105.46%
-8.14%

Quarterly Revenue

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,336
1,131
1,085
1,001
5,066
2025
1,302
1,184
816
1,105
4,019
2026
1,052
962
- -
- -
- -

Quarterly Earnings Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-5.78
-1.4
-3.12
-0.27
-11.37
2025
-5.75
-4.23
-1.94
-5.09
-15.49
2026
-2.72
2.92
- -
- -
- -

Quarterly Dividends Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.02
- -
- -
0.02
2025
0.02
- -
- -
- -
0.02
2026
- -
- -
- -
- -
- -
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Business
Kartonsan Karton Sanayi ve Ticaret A.S. produces coated cardboard from recycled paper for packaging and printing applications; its core products include Normprint, a multi-coated cardboard with grey back for versatile packaging; Exprint, offering excellent creasing and printability for detailed graphics; Luxtriplex, with white back suitable for greeting cards and high-end packaging; and Normprint-Liner for corrugated lamination in glassware and electronics. The company, founded in 1967 and headquartered in Istanbul, Turkey, operates a facility in Basaksehir, Kocaeli, with an annual production capacity of 240,000 tons across two lines (BM1 at 80,000 tons and BM2 at 160,000 tons), holds a leading 41% share of the Turkish coated cardboard market, and exports to over 30 countries including Bulgaria, Greece, Italy, Romania, Spain, Portugal, Russia, Georgia, Israel, and Egypt. Products serve sectors such as food, pharmaceuticals, cosmetics, detergents, perfumery, textiles, stationery, glassware, small appliances, books, and promotion; Kartonsan is part of Pak Group, which holds 78% ownership, and maintains subsidiaries including Selka for coated cardboard trade and waste paper recycling operations. In recent developments, Kartonsan completed maintenance and earthquake-strengthening of its BM1 production line from June to October 2023, enhancing facility resilience post the February 2023 Kahramanmaras earthquakes; the company resolved a labor strike in April 2023 through negotiations with the Turkish Cellulose, Paper, Wood and Products Workers’ Union; and in December 2024, it finalized the simplified merger acquisition of 100%-owned Dönkasan Dönüştürülen Atık Kağıt San. ve Tic. A.S., registering the transaction on December 25, 2024, to integrate waste paper processing within the value chain.