BIMAS Retail
🏢 Company Profile
All kinds of food and consumer goods trade and shopping center operations; Also has operations in Egypt and Morocco.
- MERKEZ BEREKET GIDA SANAYİ VE TİCARET ANONİM ŞİRKETİ — 15.41%
- NASPAK GIDA SANAYİ VE TİCARET ANONİM ŞİRKETİ — 12.25%
- GREEN CAPITAL RESOURCE FUND — 4.86%
- SKYPEN LIMITED — 4.25%
- GROSVENOR CAPITAL FUND — 3.44%
- EATON CAPITAL FUND — 3.44%
- Last quarter (2026/6): sales 449695235000 TL, net profit margin 3.4% (thin)
- Sales growth: YoY %+9.9 (increase).
- Net profit growth: YoY +105.8% (increase).
- Owners' Equity Growth: YoY %+6.5 (increase)
- Asset turnover 4.7 (TTM revenue / total assets) — efficient asset utilisation.
- Financial liabilities / owners' equity 30.8% (moderate leverage); total liabilities (short+long) / owners' equity 111%.
- Net financial debt 58348152000 TL (TradingView balance sheet section).
- Current ratio (current assets / short-term debt) 1.0 — balanced liquidity.
- Current ratio (TradingView balance sheet section) 1.0 — balanced liquidity.
- Multiples: P/E 17.9 · P/B 2.4 · EV/EBITDA 10.2 · dividend yield 1.7.
- Source: İş Yatırım quarterly financial statements + TradingView TTM (06.10.2026); comments are generated with fixed threshold rules and are not investment advice.
| Total Assets | 428.6 mlr TL | Total Debt | 225.4 mlr TL |
| Current Assets | 152.4 billion TL | Equity | 203.1 mlr TL |
| Financial Debt | 62.6 billion TL | Net Profit | 15.1 mlr TL |
📋 Announced Financial Statements· manually added financial table summary · last pull: 2026-09-23
| Period | Sales Revenues (mlr TL) | Net Profit (mlr TL) | Profit Margin | Total Assets (mlr TL) | Equity (mlr TL) | Financial Debt (mlr TL) | Financial Debt / Equity |
|---|---|---|---|---|---|---|---|
| 2026/6 | 449.7 (+ 9.9% YoY) | 15.1 (+ 105.8% YoY) | 3.4% | 428.6 | 203.1 | 62.6 | 30.8% |
| 2026/3 | 212.9 (+ 10.1% YoY) | 6.6 (+ 84.7% YoY) | 3.1% | 398.3 | 190.8 | 58.1 | 30.4% |
| 2025/12 | 849.1 (+ 24.9% YoY) | 22.1 (- 9.4% YoY) | 2.6% | 398.1 | 196.8 | 62.1 | 31.6% |
| 2025/9 | 512.8 (+ 4.7% YoY) | 11.4 (- 38.6% YoY) | 2.2% | 326.7 | 153.5 | 48.9 | 31.8% |
| 2025/6 | 409.3 (+ 36.7% YoY) | 7.3 (- 37.8% YoY) | 1.8% | 295.5 | 136.7 | 46.5 | 34.0% |
| 2025/3 | 193.3 (+ 34.9% YoY) | 3.5 (- 33.8% YoY) | 1.8% | 286.7 | 133.0 | 42.1 | 31.7% |
| 2024/12 | 680.1 | 24.4 | 3.6% | 308.7 | 155.2 | 48.4 | 31.2% |
| 2024/9 | 489.8 | 18.5 | 3.8% | 223.9 | 101.7 | 33.9 | 33.4% |
| 2024/6 | 299.5 | 11.8 | 3.9% | 200.6 | 89.4 | 30.7 | 34.3% |
| 2024/3 | 143.3 | 5.4 | 3.7% | 189.0 | 84.2 | 27.0 | 32.1% |
Income statement items (sales revenues and net profit) are cumulative from the beginning of the year; balance sheet items are period-end balances. Source: İş Yatırım financial statements (based on KAP announcements).
🔎 Fundamental Analysis Summary · automatic
- Revenue (TTM) 822.99 billion TL, EBITDA 51.43 billion TL — EBITDA margin 6.2% (low EBITDA margin).
- Net profit margin 3.3% (thin net profit margin).
- EV/EBITDA 9.1 — reasonable EV/EBITDA.
- Net financial debt 58.35 billion TL (13% of market cap).
- Current ratio 1.03 — balanced liquidity.
- Dividend yield 1.9%.
Rule-based summary: It is generated from İş Yatırım financial statements (TTM) and TradingView base data with fixed thresholds; no LLM, no hallucination risk. It is not investment advice.
Valuation and Profitability · single source, last 12 months
Last 5 trading days return: -1.2%
| Market value | 430.5 mlr TL |
| Equity (2026/6) | 203.1 billion TL |
| Net profit (last 12 months) | 29.8 billion TL |
| P/E (last 12 months) | 14.4 |
| P/B | 2.12 |
| ROE (last 12 months) | 14.7% |
| Financial debt / equity | 31% |
Source: İş Yatırım financial statements (KAP disclosures) — same source as the balance sheet table.
| EBITDA (last 12 months) | 51.4 billion TL |
| EBITDA margin | 6.2% |
| EV / EBITDA | 9.1 |
EBITDA margin is profitability before interest/depreciation/taxes; it should not be confused with net profit margin.
Macro Sensitivity · Retail sector
Regime: high inflation + tight monetary policy (6.27 point real interest) · moderate domestic demand
| Trend | positive |
| Score | +2 |
| Channels | interest rate increase, domestic demand increase, commodity decrease |
Sector sensitivity matrix x current macro regime; detail Macroeconomic Evaluation.
Technical Status
| General | STRONG SELL |
| Short term (EMA 5-8-13-21) | SELL |
| Medium term (EMA 34-55) | SELL |
| Long term (EMA 89-144) | BEKLE |
| Wave Trend (indicator) | SELL |
| Channel position | 2% |
| Trend strength (r) | -0.21 |
| Score | 0 |
EMA sequence + Wave Trend + 60-day regression channel. Details: Technical Scan · Stock Center
Last 7 Days News
- BIM MAGAZALAR (BIMAS) Stock — Mynet Finans · 28.10
- BİM (BIMAS) shares: Purchase realized from Mustafa Latif Topbaş — Finance Line · 26.10
- Share purchase announcement from Mustafa Latif Topbaş at BİM Birleşik Mağazalar (BIMAS) — Rota Borsa · 26.10
- 3Ç26 Balance Sheet Coming: 25 Institutions Announced Target Price for BIMAS! — Money Agency · 26.10
📋 KAP Notifications
- 26 October 09:33 — Share Purchase and Sale Notification→
- 23 Ekim 08:56 — Share Purchase and Sale Notification→
- 21 October 18:12 — SPK Transaction Ban Due to Share Announcement →
- 19 Ekim 16:16 — Share Purchase and Sale Notification→
- 19 Ekim 15:16 — Share Purchase and Sale Notification→
- 14 Ekim 18:49 — Financial Fixed Asset Acquisition→
All notifications: KAP →
📝 Evaluations· prepared manually · last update: 23.09.2026
📈 Technical Analysis
BİM, 23 September 2026 day with 0.93% premium from 434.25 TL. In all horizons with AL signal, 4/4 STRONG BUY table is preserved; channel position at 67% and trend strength (r) 0.88 with strong upward trend continues. Stock is 35% above 60-day 322.50 TL bottom zone, 3% away from 447.25 TL peak; 60-day return of 19.61% indicates strong performance above index.
🌍 Macroeconomic Evaluation
Food retail is affected in two ways during disinflation periods: decline of inflation to 31.5% nominally slows revenue growth, while easing cost inflation and price stability repair margins. BİM's 2Q results show this repair starting to reflect on balance sheet. Minimum wage and civil servant salary increases support private consumption; discount stores continue to gain share from price-sensitive consumer base. As CBRT's interest rate cut path progresses, interest in defensive-dividend stocks increases; BİM is a natural beneficiary of this transition. USD/TL at 48.83 level balances import input costs, while possible surprises in food inflation keep regulation risk alive. In environment where gram gold rose to 6.786 TL, search for real return directs to strong balance sheet stocks; BİM's negative working capital model provides cash flow independent of interest rate environment.
🧾 Balance Sheet Evaluation
BİM increased sales by 9.9% in first half of 2026 while raising net profit by 105.8%, confirming margin repair; announced 236.8 billion TL sales (+9.7%) and 8.5 billion TL net profit (+125.5%) in second quarter. Quarterly net margin rose to 3.6%, double of 1.8% in first half of previous year; normalization of inflation accounting effects and cost-disciplined pricing is improving profitability. Company generated 889.5 billion TL revenue and 29.8 billion TL net profit in last four quarters; market value ~514 billion TL; P/E ~17.2x, P/B ~2.5x, EV/EBITDA ~16.0x. EV/EBITDA above historical average is due to low EBITDA base (margin repair process not yet completed); multiple will naturally ease as margins normalize. Financial debt/equity 30.8%, net debt/EBITDA ~1.0x is healthy; company's negative working capital model supports cash generation. ROE 14.7% shows recovery trend; 2.2% dividend yield offers reasonable additional return. In scenario where real wage increases support domestic demand, revenue growth is expected to continue. Overall assessment, BİM with its defensive structure and margin repair story is a core defensive asset in portfolios; valuation not at full discount but profit growth momentum makes multiples reasonable.
This section is manually updated; for informational purposes only, not investment advice.