Pinar Sut Mamulleri Sanayii A.S.

Pinar Sut Mamulleri Sanayii A.S.

BBIST:PNSUT
8.94
TRY
-0.14
(-1.54%)
-1.91EPS
3.50BMarket Cap
Pinar Sut Mamulleri Sanayii A.S.
BIST:PNSUT
(Istanbul Exchange)

Recent

price

8.94

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
TRY
1.83
2.07
2.31
2.57
2.99
3.21
3.39
3.94
4.73
5.29
6.45
8.52
35.2
49.84
56.15
50.37
49.55
Revenue per Share
0.19
0.23
0.18
0.21
0.28
0.2
0.19
0.15
0.16
0.11
0.13
0.37
1.37
1.31
-7.04
-2.99
-1.91
Basic EPS, GAAP
0.12
0.05
0.16
0.24
0.16
0.13
0.02
-0.06
0.18
0.14
-0.31
-0.06
0.55
-0.27
1.35
-1.42
-0.31
Free Cash Flow per Basic Share
0.16
0.16
0.21
0.15
0.15
0.23
0.14
0.13
0.06
0.06
0.05
0.08
0.21
0.88
- -
- -
- -
Dividend per Share
1.22
1.4
1.39
1.52
1.68
1.87
1.89
2.19
2.48
2.85
3.37
6.2
23.33
30.75
38.11
34.79
37.37
Book Value per Share
1.22
1.39
1.39
1.52
1.68
1.86
1.88
2.19
2.47
2.84
3.35
6.16
23.17
30.48
37.51
32.83
35.15
Tangible Book Value per Share
315
315
315
315
315
315
315
315
315
315
315
315
315
315
315
315
315
Basic Weighted Avg Shares
577
651
727
810
940
1,011
1,068
1,240
1,488
1,665
2,028
2,682
11,077
15,683
17,668
15,849
15,592
Sales/Revenue/Turnover
9.07
10.27
7.23
6.66
5.49
5.24
6
4.53
5.12
2.03
2.44
3.62
0.07
-4.01
-4.24
-0.92
0.73
Operating Margin (%)
13
15
13
16
16
21
24
26
34
50
52
60
274
417
680
603
616
Depreciation Expense
60
73
57
67
87
62
60
47
49
35
40
117
430
411
-2,215
-942
-602
Net Income, GAAP
15.89
12.48
11.78
- -
- -
7.92
5.74
- -
- -
- -
- -
2.49
- -
- -
- -
- -
- -
Effective Tax Rate (%)
10.41
11.2
7.9
8.33
9.26
6.15
5.62
3.8
3.31
2.08
1.98
4.38
3.89
2.62
-12.53
-5.94
-3.86
Profit Margin (%)
92
109
87
79
83
38
60
76
35
109
71
132
431
134
-1,759
-795
-1,082
Working Capital
- -
15
- -
- -
6
2
31
53
26
85
79
73
52
37
209
1,207
1,176
LT Debt
385
439
436
480
529
587
593
690
781
898
1,062
1,951
7,342
9,676
11,993
10,948
11,760
Total Equity
11.59
15.01
10.26
- -
- -
8.45
9.3
- -
- -
- -
- -
10.89
- -
- -
- -
- -
- -
Return on Invested Capital (%)
16.77
17.8
13.15
- -
- -
11.64
10.93
- -
- -
- -
- -
10.52
- -
- -
- -
- -
- -
Return on Capital (%)
16.35
17.7
13.12
14.73
17.26
11.15
10.17
7.34
6.69
4.13
4.1
7.79
9.26
4.83
-20.44
-8.21
-5.07
Return on Common Equity (%)

Capital Structure

TRY

•

in mil. unless spec.
Jun'25
Dec'25
Mar'26
ST Debt
4,131
4,462
5,083
LT Borrowings
965
1,002
955
LT Finance Leases
- -
205
220
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
315
315
315
Market Capitalization
2,863
3,480
3,499

Working Capital

TRY

•

in mil. unless spec.
Jun'25
Dec'25
Mar'26
Total Current Assets
7,192
6,140
6,350
Cash, Cash Equivalents & STI
554
60
237
Accounts Receivable, Net
3,271
2,922
3,021
Inventories
1,902
1,381
1,299
Total Current Liabilities
7,592
6,935
7,432
Payables & Accruals
- -
- -
- -
ST Debt
4,131
4,462
5,083
Deferred Revenue
- -
- -
- -

Growth Rates

TRY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
47.09%
81.42%
-8.71%
Free Cash Flow
-323.34%
-404.84%
-204.61%
Net Income, GAAP
-27.6%
-48.36%
-57.47%
Sales/Revenue/Turnover
46.46%
77.84%
-10.3%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
3,735
3,799
4,421
3,925
17,668
2025
4,694
3,670
- -
3,769
15,849
2026
3,459
- -
- -
- -
- -

Quarterly Earnings Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.01
-2.21
-1.04
-2.82
-7.04
2025
0.5
-1.13
- -
-1.45
-2.99
2026
0.16
- -
- -
- -
- -

Quarterly Dividends Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
Business
Pinar Sut Mamulleri Sanayii A.S. is a Turkey-based food and beverage company primarily engaged in the manufacturing, processing, packaging, and distribution of milk, dairy products, fruit juices, and plant-based foods. Founded in 1973 and headquartered in Izmir, Turkey, the company operates as a flagship subsidiary of Yasar Holding. Pinar Sut offers an extensive product portfolio spanning multiple categories: liquid milk products, including ultra-high temperature (UHT) plain milk, organic milk, lactose-free milk, fortified children's milk, barista milk, and flavored milk drinks under the Pinar and Pinar Kido brands; cheese specialties, comprising labneh, traditional Turkish white cheese, kashkaval, cream cheese, sliced and shredded cheeses, halloumi, mozzarella, and processed cheese spreads; fermented dairy items, encompassing standard and strained yogurts, probiotic yogurts, and traditional ayran; butter and cooking fats, including table butter, traditional churned butter, and culinary cooking and whipping creams; functional and health-focused offerings, featuring the Pinar Protein high-protein dairy series and plant-based milk alternatives derived from oats, almonds, and hazelnuts; and non-dairy beverages and desserts, including 100 percent fruit juices, fruit nectars, lemonades, ready-to-eat dairy puddings, and culinary sauces. In addition to retail consumer packaged goods, the company provides bulk packaging, milk powder, whey powder, and industrial dairy ingredients to foodservice operators and commercial food manufacturers. Pinar Sut manages integrated manufacturing plants in Izmir, Eskisehir, and Sanliurfa, distributing across Turkey and exporting to more than 25 countries throughout the Middle East, the Gulf Cooperation Council (GCC) region, Central Asia, Europe, and North America. In recent developments, the company has executed significant operational and sustainability initiatives, including the deployment of rooftop and ground-mounted solar photovoltaic (SPP) systems across its manufacturing facilities to increase renewable energy generation and decrease carbon intensity. Pinar Sut has also expanded its high-margin product portfolio with new launches in the functional protein, lactose-free, and plant-based categories, while strengthening international distribution networks and commercial partnerships across key Gulf markets and advancing digital traceability throughout its contract dairy farming network.