TRMET Metal & Mining
🏢 Company Profile
Exploration/operation of copper and other minerals; main mining area is Balıkesir-Dursunbey (Konaklı). Türk Altın İşletmeleri, a 47.55% subsidiary, is traded on BIST as TRALT. Strong net foreign exchange position: assets 5.77 billion USD, liabilities 2.40 billion USD (net +3.37 billion USD). 2026 Q2 net profit 556.8 million TL — significantly below the Matricks survey expectation of 1.31 billion TL. Current ratio declined from 7.26 to 4.48 (level strong, trend negative); acid-test 3.92; cash covers ~557 days of payments. Source: Midas company data, 06.10.2026.
- TR DOĞAL ENERJİ KAYNAKLARI ARAŞTIRMA VE ÜRETİM ANONİM ŞİRKETİ — 52.25%
- TÜRK ALTIN İŞLETMELERİ ANONİM ŞİRKETİ — 4.02%
- MEHMET İLKER SOYLU — 3.04%
- Multiples (Midas, 06.10): P/E 24.02 · P/B 1.67 · PEG 0.20 · P/S 1.23 · EV/EBITDA 3.16 · P/E 6.99.
- Growth 4/5: revenue +41.5% (around 0% in real terms after inflation), EBITDA +198%, net profit +6%; growth in fixed assets is being financed with short-term funding (warning)
- Cash flow: operating cash flow 6.28 billion TL (+28%), free cash flow +616.6M, period-end cash 7.46 billion TL; the largest investment is 5.93 billion TL of fixed asset purchases
- Leverage: no net debt (cash exceeds debt by 21.7 billion TL), leverage 0.13 (low); short-term debt share 5.9%→8.7% and rising financial debt share (warning); interest coverage data missing (warning)
- Profitability 3.8/5: operating margin 35% (rising), net margin 8% (falling); Return on Equity - ROE 8% (DuPont: through higher leverage and turnover)
- Efficiency: asset turnover 0.40 · owners' equity turnover 0.87 · working capital turnover 1.23
| Total Assets | 65.6 billion TL | Total Debt | 8.8 billion TL |
| Current Assets | 25.5 billion TL | Equity | 56.7 billion TL |
| Financial Debt | 194 million TL | Net Profit | 2.5 billion TL |
📋 Announced Financial Statements· manually added financial statement summary · last pull: 2026-10-08
| 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 | 14.5 (+ 41.5% YoY | 2.5 (+ 6.4% YoY) | 16.9% | 65.6 | 56.7 | 0.2 | 0.3% |
| 2026/3 | 9.0 (+ 55.9% YoY | 1.4 (+ 120.4% YoY | 15.5% | 62.9 | 52.1 | 0.1 | 0.2% |
| 2025/12 | 20.8 (+ 72.4% YoY | 4.7 (- 315.2% YoY | 22.5% | 60.8 | 54.3 | 0.1 | 0.3% |
| 2025/9 | 14.0 (+ 32.9% YoY) | 4.8 (- 309.1% YoY | 34.6% | 50.3 | 45.3 | 0.1 | 0.1% |
| 2025/6 | 10.3 (+ 40.4% YoY | 2.3 (- 430.2% YoY | 22.5% | 43.3 | 39.3 | 0.0 | 0.1% |
| 2025/3 | 5.8 (+ 38.4% YoY | 0.6 (- 208.0% YoY | 11.0% | 39.9 | 35.9 | 0.0 | 0.1% |
| 2024/12 | 12.1 | -2.2 | %-18.0 | 46.5 | 42.2 | 0.0 | 0.1% |
| 2024/9 | 10.5 | -2.3 | %-22.0 | 35.2 | 32.1 | 0.0 | 0.0% |
| 2024/6 | 7.3 | -0.7 | %-9.6 | 32.1 | 28.9 | 0.0 | 0.0% |
| 2024/3 | 4.2 | -0.6 | %-14.1 | 30.5 | 26.9 | 0.0 | 0.0% |
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) 23.24 billion TL, EBITDA 8.98 billion TL — EBITDA margin 38.7% (high EBITDA margin).
- Net profit margin 9% (normal net profit margin).
- EV/EBITDA 5.1 — low EV/EBITDA — cheap zone.
- Net financial debt NONE - cash 7.32 billion TL more than gross debt.
- Current ratio 4.48 — strong liquidity.
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: -1.6%
| Market value | 38.9 billion TL |
| Equity (2026/6) | 56.7 billion TL |
| Net profit (last 12 months) | 4.8 billion TL |
| P/E (last 12 months) | 8.0 |
| P/B | 0.69 |
| ROE (last 12 months) | 8.5% |
| Financial debt / equity | 0% |
Source: İş Yatırım financial statements (KAP disclosures) — same source as the balance sheet table.
| EBITDA (last 12 months) | 9.0 billion TL |
| EBITDA margin | 38.7% |
| EV / EBITDA | 5.1 |
EBITDA margin is profitability before interest/depreciation/taxes; it should not be confused with net profit margin.
Macro Sensitivity · Metal & Mining 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 | SELL |
| Short term (EMA 5-8-13-21) | SELL |
| Medium term (EMA 34-55) | SELL |
| Long term (EMA 89-144) | BEKLE |
| Wave Trend (indicator) | BUY AT THE BOTTOM |
| Channel position | %-1 |
| Trend strength (r) | -0.64 |
| Score | 1 |
EMA sequence + Wave Trend + 60-day regression channel. Details: Technical Scan · Stock Center
📋 KAP Notifications
- 23 Ekim 12:00 — Circuit Breaker Notification on a Share Basis→
- 22 Ekim 18:25 — Share Purchase and Sale Notification→
- 22 Ekim 15:03 — Circuit Breaker Notification on a Share Basis→
- 22 Ekim 09:12 — Share Purchase and Sale Notification→
- 21 Ekim 19:03 — Share Purchase and Sale Notification→
- 20 Ekim 18:34 — Share Purchase and Sale Notification→
- 16 Ekim 14:52 — Circuit Breaker Notification on a Share Basis→
- 14 Ekim 19:39 — Special Situation Disclosure (General)→
All notifications: KAP →