Turkcell Iletisim Hizmetleri A.S. (TKC) Cash Flow: Operating & Free Cash Flow

Turkcell Iletisim Hizmetleri A.S. (TKC) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), Turkcell Iletisim Hizmetleri A.S. generated TRY 121.62B of operating cash flow and spent TRY 47.71B on capital expenditures. That left free cash flow of TRY 73.90B, up 66.8% from TRY 44.31B a year earlier, or 30.6% of revenue. It returned TRY 10.03B to shareholders through TRY 9.75B in dividends and TRY 279.52M in share buybacks.

Turkcell Iletisim Hizmetleri A.S. Cash Flow Statement Analysis

Values in billions TRY

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Turkcell Iletisim Hizmetleri A.S. (TKC) - Annual data in billions TRY
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	19.31	23.51	47.37	19.86	0.56	4.51	3.28	2.18	2.04
Depreciation & Amortization	67.56	47.43	63.25	50.81	33.87	18.75	5.03	4.29	2.60
Deferred Income Tax	0.00	5.19	-6.33	-3.84	0.90	0.92	0.79	0.50	0.57
Stock Based Compensation	0.00	1.39	0.00	0.00	0.00	0.00	0.00	0.01	0.01
Change in Working Capital	-5.93	-3.68	-3.50	-3.77	0.17	2.32	-0.19	-1.73	-2.35
Change in Accounts Receivable	-2.41	-0.08	-1.42	1.50	-0.15	1.47	0.55	0.27	0.61
Change in Inventory	-0.02	0.15	-0.19	0.38	0.02	0.00	0.00	-0.08	0.03
Change in Accounts Payable	3.03	-0.23	1.04	-3.00	-1.34	0.44	0.09	-0.50	-0.51
Change in Other Working Capital	-6.53	-3.51	-4.85	5.23	2.85	0.42	-0.83	-1.42	-2.48
Other Operating Activities	40.68	1.17	-3.53	5.23	2.85	-5.50	0.13	1.04	0.30
Net Cash from Operating Activities	121.62	75.01	68.65	61.04	61.65	21.00	9.03	5.83	3.10
Investing Activities
Capital Expenditures	-47.71	-30.70	-20.53	-40.83	-31.84	-16.77	-6.02	-5.43	-4.11
Acquisitions	0.00	0.03	-1.03	-1.46	-1.85	-0.19	2.18	0.10	0.06
Purchases of Investments	0.00	-66.89	-49.84	-14.04	-3.43	-2.34	-0.37	-0.04	-0.01
Sales/Maturities of Investments	0.00	54.01	55.47	3.12	3.08	2.30	0.08	0.00	0.00
Other Investing Activities	-20.28	-5.31	11.01	5.76	-0.01	-4.77	-1.73	0.83	0.82
Net Cash from Investing Activities	-98.17	-48.86	-38.59	-45.79	-29.01	-14.54	-3.03	-4.54	-3.30
Financing Activities
Debt Repayment	17.51	-1.73	-113.54	-75.84	-44.97	-11.14	-3.37	1.19	1.48
Common Stock Repurchased	-0.28	-0.33	-0.10	0.00	0.00	-0.03	-0.01	-0.09	0.00
Dividends Paid	-9.75	-7.31	-4.70	-3.45	-8.96	-1.86	-1.01	-1.90	-2.99
Other Financing Activities	-9.14	-0.41	4.32	1.01	0.27	3.07	0.91	0.27	-0.06
Net Cash from Financing Activities	-1.66	-9.78	9.77	4.89	-9.88	-9.95	-3.48	-0.53	-1.57
Summary
Effect of Forex Changes on Cash	-13.72	-25.43	-31.19	-31.21	15.81	3.78	0.30	1.95	0.43
Net Change in Cash	8.07	-9.06	16.00	20.15	22.76	0.28	2.82	2.71	-1.34
Cash at Beginning of Period	83.71	77.71	61.71	72.77	43.66	26.23	7.42	4.71	6.05
Cash at End of Period	91.78	68.65	77.71	61.71	50.40	26.51	10.24	7.42	4.71
Free Cash Flow	73.90	44.31	48.12	20.22	29.80	4.23	3.01	0.40	-1.01
Supplemental Disclosures
Interest Paid	-	13.75	10.62	5.94	1.82	1.65	-	-	-
Income Taxes Paid	-	2.15	0.81	1.34	0.76	0.63	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Turkcell Iletisim Hizmetleri A.S. Cash Flow

What is Turkcell Iletisim Hizmetleri A.S.'s free cash flow?

Turkcell Iletisim Hizmetleri A.S. generated free cash flow of TRY 73.90B in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of TRY 121.62B minus TRY 47.71B of capital expenditures. That was up 66.8% from TRY 44.31B a year earlier. Free cash flow equaled 30.6% of revenue.

How much does Turkcell Iletisim Hizmetleri A.S. spend on capital expenditures?

Turkcell Iletisim Hizmetleri A.S. spent TRY 47.71B on capital expenditures in fiscal 2025, compared with TRY 30.70B a year earlier. That equals 39.2% of operating cash flow.

Does Turkcell Iletisim Hizmetleri A.S. pay dividends or buy back shares?

Yes. In fiscal 2025 Turkcell Iletisim Hizmetleri A.S. returned TRY 9.75B in dividends and TRY 279.52M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition