PETKM Energy & Petrochemicals
🏢 Company Profile
Turkey's only integrated petrochemical plant; produces inputs for construction, agriculture, automotive, packaging, textile and other sectors with over 50 products.
- SOCAR TURKEY ENERJİ A.Ş. — 51.00%
- CEM OKULLU — 3.59%
- Last quarter (2026/6): sales 65303261000 TL, net profit margin 6.7% (normal)
- Sales growth: YoY %+28.0 (increase).
- Net profit growth: YoY -199.9% (contraction).
- Owners' Equity Growth: YoY %+10.8 (increase)
- Asset turnover 1.4 (TTM revenue / total assets) — efficient asset utilisation.
- Financial liabilities / owners' equity 74.5% (high leverage); total liabilities (short+long) / owners' equity 141.2%.
- Net financial debt 49860402000 TL (TradingView balance sheet section).
- Current ratio (current assets / short-term debt) 0.6 — short-term liability pressure.
- Current ratio (TradingView balance sheet section) 0.6 — short-term liability pressure.
- Multiples: P/B 0.7 · EV/EBITDA 895.6.
- Source: İş Yatırım quarterly financial statements + TradingView TTM (06.10.2026); comments are generated with fixed threshold rules and are not investment advice.
📋 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 | 65.3 (+ 28.0% YoY) | 4.4 (- 199.9% YoY) | 6.7% | 181.4 | 75.2 | 56.1 | 74.5% |
| 2026/3 | 27.0 (+ 16.7% YoY) | 0.3 (- 109.0% YoY) | 1.1% | 164.8 | 67.9 | 52.1 | 76.7% |
| 2025/12 | 104.9 (+ 3.6% YoY) | -12.1 (+ 35.9% YoY) | %-11.5 | 178.2 | 75.3 | 60.5 | 80.4% |
| 2025/9 | 63.8 (- 16.3% YoY) | -4.8 (+ 3.728.6% YoY) | %-7.5 | 151.6 | 67.0 | 51.4 | 76.8% |
| 2025/6 | 51.0 (+ 3.1% YoY) | -4.4 (- 221.5% YoY) | %-8.6 | 140.9 | 64.7 | 47.4 | 73.1% |
| 2025/3 | 23.1 (+ 1.1% YoY) | -3.4 (- 395.5% YoY) | %-14.7 | 133.9 | 59.8 | 51.1 | 85.5% |
| 2024/12 | 101.3 | -8.9 | %-8.8 | 163.0 | 76.3 | 58.1 | 76.1% |
| 2024/9 | 76.2 | -0.1 | %-0.2 | 118.9 | 62.3 | 39.7 | 63.8% |
| 2024/6 | 49.5 | 3.6 | 7.3% | 115.5 | 61.7 | 37.7 | 61.2% |
| 2024/3 | 22.9 | 1.2 | 5.0% | 107.1 | 57.4 | 35.0 | 60.9% |
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) 110.96 billion TL, EBITDA 112 million TL — EBITDA margin 0.1% (low EBITDA margin).
- Net profit margin -2.1% (records a net loss).
- EV/FAVÖK 836.6 — EV/FAVÖK high — priced at a premium.
- Net financial debt 49.86 billion TL (112% of market value).
- Current ratio 0.59 — under short-term liability pressure.
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: -3.1%
| Market value | 43.4 billion TL |
| Equity (2026/6) | 75.2 bln TL |
| Net profit (last 12 months) | - 3.3 bln TL |
| P/E (last 12 months) | — |
| P/B | 0.58 |
| ROE (last 12 months) | -4.3% |
| Financial debt / equity | 75% |
Source: İş Yatırım financial statements (KAP disclosures) — same source as the balance sheet table.
| EBITDA (last 12 months) | 112 million TL |
| EBITDA margin | 0.1% |
| EV / EBITDA | 836.6 |
EBITDA margin is profitability before interest/depreciation/taxes; it should not be confused with net profit margin.
Macro Sensitivity · Energy & Petrochemicals sector
Regime: high inflation + tight monetary policy (6.27 point real interest) · moderate domestic demand
| Trend | negative |
| Score | -1 |
| 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 | 12% |
| Trend strength (r) | -0.18 |
| Score | 0 |
EMA sequence + Wave Trend + 60-day regression channel. Details: Technical Scan · Stock Center
Last 7 Days News
- On the exchange, FDPO updated for 9 stocks including CWENE, PETKM — Paratic Haber · 27.10
- The free float ratio of 9 companies including CWENE, LYDHO and PETKM is changing — Stock Exchange Agenda · 27.10
- KAP *** PETKİM PETROKİMYA HOLDİNG A.Ş. *** PETKM *** Credit Rating — Yeni Şafak · 26.10
- Petkim Credit Rating: Confirmed at AA- (tr) Level — Finance Line · 26.10
- Petkim's (PETKM) national credit rating was maintained at AA- (tr) — Paratic Haber · 26.10
- KAP *** BORSA İSTANBUL BISTECH CIRCUIT BREAKER APPLICATION *** PETKM *** Stock Based Circuit Breaker Notification — Yeni Şafak · 23.10
📋 KAP Notifications
- 26 October 09:02 — Public Disclosure Platform Announcement →
- 23 October 14:47 — Circuit Breaker Notification on a Share Basis→
- October 20 08:57 — Public Disclosure Platform Announcement →
- 19 October 09:21 — Public Disclosure Platform Announcement →
- October 13 09:24 — Public Disclosure Platform Announcement →
- 12 October 09:18 — Public Disclosure Platform Announcement →
- 6 October 09:07 — Public Disclosure Platform Announcement →
- October 5 09:25 — Public Disclosure Platform Announcement →
All notifications: KAP →
📝 Evaluations· prepared manually · last update: 23.09.2026
📈 Technical Analysis
Petkim rose to its daily limit of 23.00 TL, a 9.94% increase on September 23, 2026; the trigger was BofA's news flow regarding Socar Turkey share acquisition and foreign institutions' target price updates reaching up to 26.80 TL. Medium and long-term EMA sequence turned to BUY; short-term remains WAIT and Wave Trend remains SELL, making the chart 2/4 NEUTRAL. Channel position is at 67%, trend strength (r) 0.51 indicates strengthening momentum reversal. The stock is testing and trying to surpass its 60-day peak of 23.15 TL during the day; it's priced 29% above the support zone at 17.88 TL.
🌍 Macroeconomic Evaluation
Petrochemical margins are determined by global naphtha-product spread; excess supply from Asia is pressuring margins, while capacity closures in Europe will be a balancing factor in the medium term. Domestically, USD/TL at 48.83 provides natural protection by partially balancing import raw material costs with foreign exchange revenues; however, real appreciation of TL poses a risk to export margins. The decline in inflation to 31.5% and interest rate cut expectations are the most important macro catalysts that could alleviate the company's high financing costs. BofA's acquisition of Socar Turkey shares confirms continued foreign institutional interest in Turkish petrochemical assets; similar strategic moves could raise the valuation floor in the sector. The decline in oil prices reduces naphtha costs, working in favor of the spread. Main risks; extension of global supply surplus, energy cost shocks, and real appreciation of TL.
🧾 Balance Sheet Evaluation
Petkim increased its sales by 28.0% in the first half of 2026 but fell into loss territory with a 199.9% decline in net profit; however, in the second quarter, it gave a strong signal of profitability turnaround with 38.3 billion TL in sales (+37.3%) and 4.1 billion TL in net profit. Over the last four quarters, there are 119.2 billion TL in sales against 3.3 billion TL in net loss; therefore, the P/E ratio is not meaningful at this stage. The company is trading below its equity with a market cap of ~58 billion TL (P/B ~0.8x); this discount reflects the perception of being at the bottom of the petrochemical cycle and the squeeze in the naphtha-product spread. The return to profit in 2Q had a high contribution from financial income and currency effects; for permanent recovery of operating margin, the spread between naphtha costs and product prices needs to widen. Financial debt/equity is high at 74.5%; ~49 billion TL in net debt limits balance sheet flexibility during cyclical downturns. ROE is -4.3%; several strong quarters are needed to cover TTM losses. BofA's share acquisition is important as it provides a corporate reference to asset value. In summary, Petkim presents a high risk-high return profile with cyclical bottom, deep asset discount, and strategic partner interest; the fundamental story depends on spread recovery.
This section is manually updated; for informational purposes only, not investment advice.