ASELSAN Elektronik Sanayi ve Ticaret Anonim (ASELS) Q4 2025 earnings summary

Executive summary

• Revenue reached 180.4 billion TL, up 14.7% year-over-year, with gross profit at 57.4 billion TL and net profit at 29.9 billion TL, reflecting strong operational performance and margin expansion.

• Total assets increased to 431.6 billion TL from 317.8 billion TL, and equity rose to 251.8 billion TL, indicating robust balance sheet growth.

• The company maintained a high cash position, with cash and equivalents at 29.1 billion TL at year-end.

• A dividend of 1.07 billion TL was distributed, and 456 million TL was allocated to legal reserves.

Financial highlights

• Revenue grew to 180.4 billion TL (2024: 157.3 billion TL), gross margin improved to 31.8% (2024: 31.8%), and net profit margin increased to 16.6% (2024: 12.7%).

• EBITDA and EBIT margins improved, with operating profit at 49.1 billion TL (2024: 35.8 billion TL).

• Earnings per share rose to 656.79 kuruş (2024: 439.14 kuruş).

• Net cash from operations was 54.8 billion TL, up from 33.6 billion TL in 2024.

• Net financial debt/equity ratio decreased to 5% from 11% in 2024.

Outlook and guidance

• The company expects continued growth, supported by a strong order backlog and new contracts signed after year-end totaling $521 million.

• Management prioritizes expanding R&D and international sales, leveraging robust cash flows and balance sheet strength.