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Turkcell

Logo: turkcell.com.tr5

Turkish mobile phone operator

Turkcell İletişim Hizmetleri A.Ş. (lit. 'Turkcell Communication Services') (BİST: TCELL, NYSE: TKC) is the leading mobile phone operator in Turkey, based in Istanbul. The company has 39.3 million subscribers as of September 2021.3 It was founded by Mehmet Emin Karamehmet.1 Its chief executive is Murat Erkan (since 2019).1 It employed about 13,900 people.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

107.1BRevenue, fiscal 20236
12.5BNet income, fiscal 20236
1994Founded1

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  • TickerTKC on NYSE1
  • Industrymobile phone industry, telecommunications industry1
  • HeadquartersIstanbul1
  • Websitewww.turkcell.com.tr
  • Legal formAnonim şirket1
  • Incorporated inTurkey7
  • Business addressAydinevler Mahallesi Inonu Caddesi No 20, Kucukyali Ofispark, Maltepe, Istanbul, 348547
  • Filer categoryLarge accelerated filer7
  • LEI7890003EX1LTLS2FFL844
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressAYDINEVLER MAH. İNÖNÜ CAD. NO:20 KÜÇÜKYALI OFİSPARK MALTEPE, 34854 İstanbul, Turkey4
  • Registered withTurkish Trade Registry Gazette (The Union of Chambers and Commodity Exchanges of Turkey), 3048444

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Bazaar Turkcell store
Photo: Pivox, CC BY-SA 4.0, via Wikimedia Commons9

Turkcell İletişim Hizmetleri A.Ş. (lit. 'Turkcell Communication Services') (BİST: TCELL, NYSE: TKC) is the leading mobile phone operator in Turkey, based in Istanbul. The company has 39.3 million subscribers as of September 2021. In 2015, the company's number of subscribers climbed to 68.9 million, in nine countries. The largest shareholder is Turkey Wealth Fund with 26.2% ownership. It is listed on the Fortune 2000 list of the world's biggest companies, published by Fortune. Turkcell has also developed Yaani, a browser for mobile and desktop. Turkcell's general manager is Ali Taha Koç.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from. Figures are in TRY, the currency the company reports in.

Key numbers, fiscal 2023

21.2%Gross margin6
7.3%Operating margin6
11.7%Net margin6
14.6%Revenue growth, 20236
10.3%Return on equity6
0.47×Debt to equity6
27.5B TRYFree cash flow6

Where the money goes

Where each dollar of revenue went, fiscal 2023

  • Cost of revenue69¢84.4B TRY
  • Research and development0¢132.6M TRY
  • Interest16¢19.9B TRY
  • Income tax4¢4.7B TRY
  • Profit10¢12.5B TRY

Out of 107.1B TRY in revenue.6

Where each dollar of operating cash went, fiscal 2023

  • Capital spending34¢14.2B TRY
  • Share buybacks0¢50.8M TRY
  • Kept or used elsewhere66¢27.5B TRY

Out of 41.7B TRY of cash from operations.6

Financial statements

Revenue10111213146107.1B TRY in 2023+650% since 2016
050.0B TRY100.0B TRY150.0B TRY2016: 14.3B TRY14.3B TRY20162017: 17.6B TRY17.6B TRY2017+23%2018: 21.3B TRY21.3B TRY2018+21%2019: 25.1B TRY25.1B TRY2019+18%2020: 69.5B TRY69.5B TRY2020+176%2021: 108.6B TRY108.6B TRY2021+56%2022: 93.5B TRY93.5B TRY2022−14%2023: 107.1B TRY107.1B TRY2023+15%
Gross profit1011121314622.7B TRY in 2023+350% since 2016
010.0B TRY20.0B TRY30.0B TRY2016: 5.0B TRY5.0B TRY20162017: 6.3B TRY6.3B TRY2017+24%2018: 7.1B TRY7.1B TRY2018+14%2019: 8.1B TRY8.1B TRY2019+13%2020: 16.4B TRY16.4B TRY2020+104%2021: 22.5B TRY22.5B TRY2021+37%2022: 11.8B TRY11.8B TRY2022−47%2023: 22.7B TRY22.7B TRY2023+92%
Operating income101112131467.8B TRY in 2023+258% since 2016
05.0B TRY10.0B TRY15.0B TRY2016: 2.2B TRY2.2B TRY20162017: 2.9B TRY2.9B TRY2017+34%2018: 4.4B TRY4.4B TRY2018+49%2019: 5.0B TRY5.0B TRY2019+15%2020: 9.0B TRY9.0B TRY2020+79%2021: 12.1B TRY12.1B TRY2021+35%2022: 3.0B TRY3.0B TRY2022−76%2023: 7.8B TRY7.8B TRY2023+165%
Net income1011121314612.5B TRY in 2023+712% since 2016
05.0B TRY10.0B TRY15.0B TRY2016: 1.5B TRY1.5B TRY20162017: 2.0B TRY2.0B TRY2017+32%2018: 2.2B TRY2.2B TRY2018+7%2019: 3.3B TRY3.3B TRY2019+50%2020: 4.5B TRY4.5B TRY2020+38%2021: 7.1B TRY7.1B TRY2021+58%2022: 6.9B TRY6.9B TRY2022−4%2023: 12.5B TRY12.5B TRY2023+82%
Fiscal year20162017201820192020202120222023
Revenue14.3B TRY1017.6B TRY1121.3B TRY1225.1B TRY1369.5B TRY14108.6B TRY693.5B TRY6107.1B TRY6
Cost of revenue86.1B TRY681.7B TRY684.4B TRY6
Gross profit5.0B TRY106.3B TRY117.1B TRY128.1B TRY1316.4B TRY1422.5B TRY611.8B TRY622.7B TRY6
Research and development89.9M TRY14129.1M TRY6132.6M TRY6
Operating income2.2B TRY102.9B TRY114.4B TRY125.0B TRY139.0B TRY1412.1B TRY63.0B TRY67.8B TRY6
Interest21.3B TRY611.9B TRY619.9B TRY6
Income before tax7.3B TRY63.3B TRY65.9B TRY6
Income tax900.3M TRY6-2.8B TRY6-4.7B TRY6
Net income1.5B TRY102.0B TRY112.2B TRY123.3B TRY134.5B TRY147.1B TRY66.9B TRY612.5B TRY6
Earnings per share1 TRY/shares132 TRY/shares143 TRY/shares63 TRY/shares66 TRY/shares6
Earnings per share (diluted)1 TRY/shares132 TRY/shares143 TRY/shares63 TRY/shares66 TRY/shares6
Shares (weighted, basic)2.2B shares62.2B shares62.2B shares6

Compare Turkcell with another company

Corporate structure

Turkcell sits at the top of its group. 13 entities, 4 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Turkcell

  • Turkcell İstanbul, Turkey
    • Kuzey Kibris Turkcell Subsidiary · North Nicosia
    • Life:) Belarus Subsidiary
    • Lifecell Turkey Subsidiary
    • Lifecell Ventures B.V. Subsidiary · 100% · Amsterdam, Netherlands
    • GLOBAL BİLGİ PAZARLAMA DANIŞMANLIK VE ÇAĞRI SERVİSİ HİZMETLERİ ANONİM ŞİRKETİ Subsidiary · Istanbul, Turkey
    • KIBRIS MOBİLE TELEKOMÜNİKASYON LİMİTED Subsidiary · Lefkoşa, Cyprus
    • KULE HİZMET VE İŞLETMECİLİK ANONİM ŞİRKETİ Subsidiary · Istanbul, Turkey
    • Superonline İletişim Hizmetleri Anonim Şirketi Subsidiary · İstanbul, Turkey
    • Turkcell Gayrimenkul Hizmetleri Anonim Şirketi Subsidiary · Istanbul, Turkey
    • TURKCELL TEKNOLOJİ ARAŞTIRMA VE GELİŞTİRME ANONİM ŞİRKETİ Subsidiary · Istanbul, Turkey
    • TURKTELL BİLİŞİM SERVİSLERİ ANONİM ŞİRKETİ Subsidiary · Istanbul, Turkey
      • TDC VERİ HİZMETLERİ ANONİM ŞİRKETİ Subsidiary · İstanbul, Turkey
    • Fulltrip Owned
    • yaani Owned · Turkey

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Turkcell reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net66.7B TRY6 Dec 31, 202371.5B TRY6 Dec 31, 2022−6.8%
Operating-lease assets (leased space)6.1B TRY6 Dec 31, 20238.1B TRY6 Dec 31, 2022−23.8%

Real estate and locations

ItemLatestA year beforeChange
Real estate investments, net142.4M TRY6 Dec 31, 2023179.1M TRY6 Dec 31, 2022−20.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents50.0B TRY6 Dec 31, 202342.8B TRY6 Dec 31, 2022+16.8%
Long-term investments647.5M TRY6 Dec 31, 20233.5B TRY6 Dec 31, 2022−81.4%

Inventory

ItemLatestA year beforeChange
Inventory, total540.5M TRY6 Dec 31, 2023495.0M TRY6 Dec 31, 2022+9.2%

Stakes and holdings (Wikidata)

  • Fulltrip
  • yaani

Things Wikidata records the company as owning, with the share when stated.1

The story

Founded by Mehmet Emin Karamehmet in 1994.1

In February 1994, Turkcell started Turkey's first GSM network. In Q3 2012, it had a market share of 52.4%. Its competitors were Vodafone with a market share of 27.9% and Avea with a market share of 19.7%.

Turkcell is the first Turkish company to be listed on the New York Stock Exchange, where its shares have been traded since 11 July 2000 along with trading on the Istanbul Stock Exchange.

Turkcell also provides GSM services internationally. It has 9.6 million subscribers via Fintur Holdings and its affiliates in partnership with TeliaSonera in Azerbaijan, Kazakhstan, Georgia and Moldova, as of 30 September 2007. In 2009, they were the first company to get 3G services for their customers in Turkey. In 2015, Turkcell completed the acquisition of a 44.96% stake in Ukrainian mobile phone operator Life:) It had 13.6 million subscribers at that time.

Turkcell also provides IPTV service in Turkey.

In October 2020, TVF Bilgi Teknolojileri Iletisim Hizmetleri Yatirim Sanayi ve Ticaret A.S. a subsidiary of Turkey Wealth Fund, the wealth fund of the Republic of Turkey, acquired control of 26.2% of Turkcell. 19.8% of Turkcell's shares are controlled by the second-largest shareholder IMTIS Holdings S.a r.l., an entity in which Letterone Investment Holdings S.A. has an indirect economic interest.

From Wikipedia’s article on Turkcell, shared under CC BY-SA 4.0.8

Leadership

Who has led Turkcell, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Kaan Terzioğlu2015–2019
  2. Murat Erkan2019–now

Chief financial officer

  1. Kamil Kalyon2026–now
1995200020052010201520202025
Board members and other officers (15)

Products and brands

  • mobile telephony

Listed on Wikidata.1

Subsidiaries and ownership

Subsidiaries

Also owns

  • Fulltrip
  • yaani

From Wikidata.1

Timeline

  1. Mar 15, 2019New chief executive Murat Erkan becomes CEO1
  2. Apr 1, 2015New chief executive Kaan Terzioğlu becomes CEO1
  3. 1994Founded Founded1

Calendar

Coming up

  1. Nov 5, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.15 a share, on Nov 6, 2025.32

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

362 filings to the SEC since October 2021: 5 annual reports, 26 insider forms, 7 large holders, 324 other. The latest 20:

  1. Sep 25, 20266-K EDGAR
  2. Sep 25, 20266-K EDGAR
  3. Sep 24, 20266-K EDGAR
  4. Sep 24, 20266-K EDGAR
  5. Sep 22, 20266-K EDGAR
  6. Sep 15, 20263 OWNERSHIP DOCUMENT EDGAR
  7. Sep 8, 20266-K EDGAR
  8. Sep 1, 20266-K EDGAR
  9. Aug 14, 20266-K EDGAR
  10. Jul 30, 2026SCHEDULE 13G/A EDGAR
  11. Jul 23, 20266-K EDGAR
  12. Jun 24, 20266-K EDGAR
  13. Jun 24, 20266-K EDGAR
  14. Jun 24, 20266-K EDGAR
  15. Jun 24, 20266-K EDGAR
  16. Jun 22, 20266-K EDGAR
  17. Jun 22, 20266-K EDGAR
  18. Jun 18, 20266-K EDGAR
  19. Jun 1, 2026SD EDGAR
  20. May 12, 20266-K EDGAR

The 362 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Morgan Stanley11,166,950$65.7M0.0%−65,525
BlackRock, Inc.6,435,636$37.8M0.0%+591,705
Nomura Asset Management International Inc.6,208,806$36.5M0.1%+1,492,933
Two Sigma Investments, LP2,190,172$12.9M0.0%−239,320
American Century Companies Inc1,897,079$11.2M0.0%+106,294
Millennium Management LLC1,800,091$10.6M0.0%−78,226
Creative Planning1,630,922$9.6M0.0%+705,345
Goldman Sachs Group Inc1,358,478$8.0M0.0%−895,670
Renaissance Technologies LLC1,120,301$6.6M0.0%−529,406
Point72 Asset Management, L.P.1,068,812$6.3M0.0%+19,542
Qube Research & Technologies Ltd1,059,667$6.2M0.0%−560,021
State Street Corp1,030,060$6.1M0.0%+3,573
Arrowstreet Capital, Limited Partnership977,308$5.7M0.0%+204,030
Assenagon Asset Management S.A.977,048$5.7M0.0%+411,003
O'shaughnessy Asset Management, LLC735,379$4.3M0.0%+936
Bnp Paribas Financial Markets685,354$4.0M0.0%+23,646
Jump Financial, LLC588,600$3.5M0.0%+45,935
Wexford Capital LP530,116$3.1M0.4%+366,116
Vise Technologies, Inc.478,154$2.8M0.0%−22,740
Trexquant Investment LP417,876$2.5M0.0%+109,760
Gabelli Funds LLC405,500$2.4M0.0%No change
UBS Group AG366,529$2.2M0.0%−42,663
Northern Trust Corp317,110$1.9M0.0%−5,644
Ritholtz Wealth Management306,008$1.8M0.0%+8,039
Carrera Capital Advisors295,548$1.7M0.3%+2,799

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

2 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jan 13, 2021Michael K. SimpsonRepublican, HouseSale$1,001 - $15,000+116.5%Report
Jan 11, 2021Michael K. SimpsonRepublican, HouseSale$1,001 - $15,000+112.9%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Turkcell is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARTURKCELL ILETISIM HIZMETLERI A S2
  • CIK0001071321
  • Filer statusLarge accelerated filer not an emerging growth company; not a shell company35
  • Incorporated inTürkiye35
  • Fiscal year endsDecember 312
  • Industry code (SIC)4813 Telephone Communications (No Radiotelephone)2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business addressAydinevler Mahallesi Inonu Caddesi No 20, Kucukyali Ofispark, Maltepe, Istanbul, 34854, Turkey2
  • Phone9021231312442
  • Shares outstanding2,200,000,000 Ordinary Shares shares; 330,000,000 Group Aordinary Shares shares; 1,870,000,000 Group B Ordinary Shares shares as of Dec 31, 202535
  • AuditorGÜNEY BAĞIMSIZ DENETİM VE SERBEST MUHASEBECI MALİ MÜŞAVİRLİK A.Ş., Istanbul, Turkiye PCAOB ID 1750; it also attests to the company’s internal control over financial reporting35
  • On EDGAR sinceFeb 14, 20012
  • Filings1,361 in all: 6-K (1,186), SC 13D/A (32), 3 (26), 20-F (25), UPLOAD (18), CORRESP (16), IRANNOTICE (15), SD (13)2
    All 22 form types

    SC 13D (5), SC 13G/A (5), 20-F/A (4), F-6EF (3), 424B3 (2), 6-K/A (2), SC 13G (2), EFFECT (1), F-3ASR (1), F-6 (1), F-6 POS (1), NT 20-F (1), SCHEDULE 13G (1), SCHEDULE 13G/A (1)

  • Latest filingsAnnual report (20-F) Apr 17, 2026

Securities registered for trading

ClassSymbolExchange
Ordinary Shares Nominal Value TRY 1.000
American Depositary Shares,each representing 2.5 ordinary sharesTKCNew York Stock Exchange

From the cover page of the 20-F filed Apr 17, 2026 (Section 12(b) of the Exchange Act).35

Sources

The numbers on this page point here. Each one links to the record it came from.

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    Company websiteTurkcell logo
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