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KORAY GAYRIMENKUL YATIRIM ORTAKLIGI A.S. Class B

KORAY GAYRIMENKUL YATIRIM ORTAKLIGI A.S. Class B

BBIST:KGYO
7.96
TRY
-0.08
(-1.00%)
-0.75EPS
11.82BMarket Cap
KORAY GAYRIMENKUL YATIRIM ORTAKLIGI A.S. Class B
BIST:KGYO
(Istanbul Exchange)

Recent

price

7.96

P/E

ratio

- -

div

yld

0.09%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
TRY
0.02
0.03
0.04
0.05
0.07
0.09
0.07
0.08
0.07
0.07
0.08
0.09
0.37
0.48
0.39
0.42
2.12
Revenue per Share
-0.01
-0.02
-0.01
-0.03
0.05
0.01
-0.01
- -
0.01
0.01
- -
0.04
-0.06
1.43
-0.09
-0.75
-0.76
Basic EPS, GAAP
-0.03
-0.01
-0.01
-0.01
-0.02
0.02
0.01
0.04
-0.01
-0.02
- -
- -
-0.01
-0.33
-1.01
0.55
-0.4
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
0.01
Dividend per Share
0.11
0.1
0.08
0.05
0.1
0.12
0.1
0.11
0.12
0.12
0.13
0.16
0.38
1.97
1.97
1.22
1.44
Book Value per Share
0.11
0.1
0.08
0.05
0.1
0.12
0.1
0.11
0.12
0.12
0.13
0.16
0.38
1.97
1.97
1.22
1.44
Tangible Book Value per Share
651
651
651
651
651
651
651
651
651
651
651
651
667
650
1,000
1,007
986
Basic Weighted Avg Shares
14
20
26
35
44
57
44
52
45
47
50
61
247
311
395
420
2,096
Sales/Revenue/Turnover
-46.09
-26.14
-30.85
-24.04
88.43
10.93
-13.92
-1.05
-7.35
-4.71
-6.75
-4.07
-32
-14.64
-30.61
-42.91
-16.05
Operating Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
1
6
7
10
11
Depreciation Expense
-7
-10
-7
-20
31
6
-9
2
8
4
2
24
-40
927
-90
-755
-750
Net Income, GAAP
- -
- -
- -
- -
0.48
8.65
- -
14.44
3.6
9.29
16.55
3.01
- -
0.48
- -
- -
- -
Effective Tax Rate (%)
-50.34
-52.08
-27.12
-56.36
71.22
10.26
-19.87
3.26
18.78
8.2
3.09
39.48
-16.32
298.51
-22.82
-179.48
-35.78
Profit Margin (%)
54
38
24
34
-41
-40
20
19
14
29
29
32
-142
-80
1,083
-109
-592
Working Capital
- -
- -
- -
32
- -
- -
- -
- -
- -
- -
- -
2
3
2
1
3
357
LT Debt
73
63
56
36
67
77
68
70
78
82
84
108
252
1,289
1,978
1,224
1,449
Total Equity
- -
- -
- -
- -
29.68
10.72
- -
1.93
9.36
2.4
-0.27
16.79
- -
-65.88
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
27.58
8.31
- -
1.68
10.67
4.09
1.09
23.92
- -
119.66
- -
- -
- -
Return on Capital (%)
-9.34
-15.48
-12.02
-43.55
60.89
8.19
-12.16
2.5
11.59
4.91
1.89
25.58
-22.74
120.83
-5.53
-47.35
-46.82
Return on Common Equity (%)

Capital Structure

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
562
756
1,145
LT Borrowings
- -
- -
345
LT Finance Leases
3
3
12
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,000
1,000
1,000
Market Capitalization
5,010
7,800
11,820

Working Capital

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
2,980
2,039
2,240
Cash, Cash Equivalents & STI
33
35
61
Accounts Receivable, Net
203
218
163
Inventories
2,260
1,022
1,148
Total Current Liabilities
3,089
2,812
2,832
Payables & Accruals
- -
- -
- -
ST Debt
562
756
1,145
Deferred Revenue
- -
- -
- -

Growth Rates

TRY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
59.96%
117.9%
-38.14%
Free Cash Flow
506.12%
954.62%
-154.74%
Net Income, GAAP
-65.73%
-114.26%
737.44%
Sales/Revenue/Turnover
37.96%
77.43%
6.46%
Total Cash Common Dividend
81.34%
168.25%
63.79%

Quarterly Revenue

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
88
96
88
83
395
2025
109
113
92
141
420
2026
1,660
203
- -
- -
- -

Quarterly Earnings Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.2
-0.03
-0.05
0.1
-0.09
2025
0.01
-0.01
-0.09
-0.67
-0.75
2026
0.03
-0.02
- -
- -
- -

Quarterly Dividends Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
0.01
- -
- -
- -
- -
2026
0.01
- -
- -
- -
- -
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Business
Koray Gayrimenkul Yatirim Ortakligi A.S. is a Turkey-based real estate investment trust engaged in the investment, development, leasing, and management of residential and commercial real estate assets, as well as real estate-backed capital market instruments. Founded in 1996 and headquartered in Istanbul, Turkey, the company operates as the real estate investment arm of the Koray Group. The company organizes its operations into distinct property and investment segments: residential real estate development, including master-planned suburban communities, luxury villa compounds, branded high-rise condominiums, and urban residential complexes; commercial real estate development, comprising modern office centers, corporate business parks, and retail commercial units; property and portfolio management services, encompassing long-term lease administration, tenant management, facility operations, and asset maintenance; project development and consultancy, including land acquisition, zoning analysis, architectural design management, urban transformation, and project supervision; and capital market operations, involving investment in real estate securities, time deposits, and money market instruments in accordance with Capital Markets Board regulations. The company focuses primarily on high-end domestic and international individual buyers, institutional investors, and corporate tenants across major Turkish metropolitan regions including Istanbul, Ankara, and Bursa. In recent developments, Koray Gayrimenkul Yatirim Ortakligi A.S. has implemented key corporate and operational initiatives to strengthen its balance sheet and accelerate project delivery. The company increased its registered capital ceiling to support ongoing liquidity requirements and fund upcoming construction phases. Operationally, the company advanced its project pipeline by initiating new residential development projects in premium urban districts, establishing strategic execution partnerships with specialized contractors and architectural firms, and integrating sustainable construction practices across its new asset launches. In addition, the company optimized its portfolio composition through active asset rotation, divesting non-core commercial holdings to reallocate capital into high-demand residential and mixed-use urban regeneration developments.