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Borusan Birlesik Boru Fabrikalari Sanayi ve Ticaret A.S.

Borusan Birlesik Boru Fabrikalari Sanayi ve Ticaret A.S.

BRSAN.IS
Borusan Birlesik Boru Fabrikalari Sanayi ve Ticaret A.S.TR flagIstanbul Stock Exchange
570.50
TRY
+29.00
- -
80.88BMarket Cap
Borusan Birlesik Boru Fabrikalari Sanayi ve Ticaret A.S.
BRSAN.IS
(Istanbul Stock Exchange)

Recent

price

570.50

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
7.18
10.6
10.06
8.45
11.56
13.75
13.87
20.05
34.32
32.27
26.31
51.71
156.65
297.53
388.47
504
552.25
Revenue per Share
-0.1
0.42
0.28
0.26
0.18
0.13
0.72
1.72
2
0.47
-0.07
0.67
9.52
28.94
-1.6
8.97
12.91
Basic EPS, GAAP
-0.14
-0.01
-0.11
-2.11
-1.91
0.95
-0.64
-0.65
-2.73
-0.42
-3.52
11.67
-16.17
48.86
-8.21
47.65
51.38
Free Cash Flow per Basic Share
0.05
- -
0.26
0.28
0.14
0.17
0.18
0.68
0.93
0.99
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
0.76
0.92
1.15
1.89
1.94
2.14
2.62
3.57
4.52
3.74
3.6
4.27
14.17
43.11
42.73
51.72
53.65
Book Value per Share
3.47
4.62
4.38
5.07
7.02
8.79
11.29
12.89
19.51
20.32
24.95
46.75
83.4
175.45
210.79
256.04
267.48
Tangible Book Value per Share
142
142
142
142
142
142
142
142
142
142
142
142
142
142
142
142
142
Basic Weighted Avg Shares
1,018
1,502
1,426
1,198
1,639
1,949
1,966
2,842
4,865
4,574
3,729
7,330
22,205
42,175
55,066
71,454
78,286
Sales/Revenue/Turnover
-1.27
6.2
3.73
2.96
4.55
5.43
10.28
10.62
10.04
5.02
3.04
3.97
9.32
12.21
1.8
3.86
3.61
Operating Margin (%)
22
28
32
40
49
66
84
92
133
174
221
285
561
1,000
1,419
1,974
2,132
Depreciation Expense
-14
59
39
37
25
19
102
244
283
66
-11
94
1,350
4,103
-227
1,272
1,830
Net Income, GAAP
- -
30.29
19.74
26.93
32.62
62.83
26.22
- -
20.11
10.75
416.73
- -
23.24
17.35
- -
36.86
29.98
Effective Tax Rate (%)
-1.37
3.95
2.77
3.07
1.53
0.98
5.19
8.57
5.82
1.44
-0.28
1.29
6.08
9.73
-0.41
1.78
2.34
Profit Margin (%)
-20
-78
-60
90
20
-2
-76
149
292
87
-39
318
1,005
6,175
5,600
5,710
4,921
Working Capital
85
109
140
415
478
538
541
598
766
791
821
1,546
1,474
2,462
3,069
3,076
3,193
LT Debt
493
656
622
721
998
1,248
1,603
1,830
2,772
2,888
3,549
6,652
11,860
24,953
30,102
37,735
39,382
Total Equity
- -
9.26
5.26
2.51
3.35
2.11
6.98
- -
9.98
4.03
-6.1
- -
9.59
14.94
- -
3.69
3.91
Return on Invested Capital (%)
- -
27.38
15.92
7.9
4.86
3.77
13.39
- -
17.02
7.58
-15.44
- -
24.77
38.43
- -
10.77
11.9
Return on Capital (%)
-11.27
49.95
26.94
17.07
9.26
6.61
30.22
55.46
49.39
11.28
-2.02
16.9
103.3
101.07
-3.72
19
27.35
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
10,203
10,178
12,864
LT Borrowings
2,632
2,368
2,212
LT Finance Leases
724
707
981
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
142
142
142
Market Capitalization
60,389
78,675
73,218

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
36,861
37,468
45,694
Cash, Cash Equivalents & STI
3,491
5,460
8,553
Accounts Receivable, Net
8,835
8,552
8,054
Inventories
20,324
19,314
24,783
Total Current Liabilities
30,331
31,758
40,773
Payables & Accruals
- -
- -
- -
ST Debt
10,203
10,178
12,864
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
44.33%
64.42%
25.36%
Free Cash Flow
-105.45%
-373.87%
-680.68%
Net Income, GAAP
16.64%
-45.96%
-661.16%
Sales/Revenue/Turnover
54.19%
89.95%
29.76%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
16,356
13,290
13,338
12,082
55,066
2025
11,550
17,624
22,080
20,200
71,454
2026
18,383
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2.59
1.92
-2.31
- -
-1.6
2025
-2.01
6.22
6.6
- -
8.97
2026
1.93
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Borusan Birlesik Boru Fabrikalari Sanayi ve Ticaret A.S. manufactures and sells steel pipes, offering a broad range of products including spiral (helical) welded pipes; LSAW and ERW line pipes; ERW natural gas pipes; industrial pipes and profiles; water pipes; construction pipes and profiles; SRM installation pipes; hydraulic cylinder pipes; cold drawn pipes; advanced processed pipes; precision pipes and profiles; and OCTG pipes. The company serves diverse sectors such as water, construction, industrial, automotive, and energy markets. It operates production facilities in Turkey, the USA, Romania, and Italy, exporting its products globally. Founded in 1958 and headquartered in Istanbul, Turkey, Borusan Birlesik Boru is a subsidiary of BMB Holding A.S. The company underwent a major name change in November 2023 from Borusan Mannesmann Boru Sanayi ve Ticaret A.S. to its current name following Borusan Holding's repurchase of shares from Salzgitter Mannesmann GMBH. In recent years, it has expanded its international footprint, notably inaugurating an SRM factory investment in the USA and a service center in Romania, with production commencing in late 2024. Borusan Birlesik Boru continues to focus on operational efficiency, market penetration, and sustainability efforts across its product lines and geographic operations. The company's strategic moves and diversified global presence position it as a significant player in the steel pipe industry with more than 4,000 product varieties and 10 facilities across three continents. It remains committed to innovation, enhanced production capacity, and solid financial performance, reflected in its standing as one of Turkey's top industrial and exporting companies. Borusan Birlesik Boru holds a reputation for robust equity structure, strong liquidity, and a focus on corporate governance as a publicly listed entity on the BIST 100 index.