KZBGY FINANCIAL STATEMENTS

Kizilbük Gayrimenkul Yatirim Ortakligi A.S. — balance sheet, income statement and cash flow trends

KZBGYKizilbük Gayrimenkul Yatirim Ortakligi A.S.

🇹🇷 Turkey · IS · Real Estate · REIT - Hotel & Motel

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Income Statement

Quarterly progression — trailing-twelve-month values
RevenueNet Income
05 B10 B2020202120222023202420252026

Profit Funnel

Q1 2026 · TTM
Revenue1.9 B ₺Gross Profit1.5 B ₺ · 79%Operating Income4 B ₺ · 211%Pre-tax Income2.9 B ₺ · 154%Net Income932.9 M ₺ · 49%

Percentages are relative to revenue.

Key Figures

YoY change
Revenue1.9 B ₺-79.7%
Gross Profit1.5 B ₺-66.7%
Operating Income4 B ₺-66.2%
EBITDA4.1 B ₺-65.9%
Net Income932.9 M ₺-89.8%

Peer Comparison· REIT - Hotel & Motel

CompanyRev. GrowthGross MarginEBITDA MarginNet Margin
KZBGY-79.7%79.4%212.9%49.0%
SVC-8.1%23.2%24.4%-13.6%
BHR-3.9%12.1%24.1%-2.2%
CLDT-7.4%27.5%31.5%3.1%
INN0.3%-18.0%43.0%-1.7%
RLJ-0.8%1.4%23.6%1.8%
Industry median-0.4%20.6%26.6%3.8%

Balance Sheet

Quarterly period-end values
Total AssetsTotal LiabilitiesEquity
020 B40 B2020202120222023202420252026

Capital Structure

Q1 2026
Total Assets39.8 B
  • Equity25.1 B ₺63%
  • Current Liabilities3.4 B ₺9%
  • Long-term Liabilities11.2 B ₺28%

Key Figures

YoY change
Total Assets39.8 B ₺+47.7%
Total Liabilities14.7 B ₺+72.3%
Total Equity25.1 B ₺+36.3%
Cash & ST Investments163.9 M ₺+33,415.0%
Total Debt4.4 B ₺+104.0%
Net Debt4.4 B ₺+103.6%

Peer Comparison· REIT - Hotel & Motel

CompanyCurrent RatioDebt/EquityNetDebt/EBITDAEquity/Assets
KZBGY2.1717.4%1.0463.1%
SVC6.441,030.3%11.918.1%
BHR2.05241.9%6.4326.2%
CLDT0.5961.4%4.6458.1%
INN373.25169.0%-3.8830.5%
RLJ0.53107.7%5.9845.7%
Industry median2.1799.0%4.4145.9%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values
Operating Cash FlowCapital ExpendituresFree Cash Flow
-2 B02 B2020202120222023202420252026

Cash Flow Bridge

Q1 2026 · TTM
01 B1.2 B ₺Operating-1.9 B ₺Investing712.6 M ₺Financing9 M ₺Net Change

Key Figures

YoY change
Operating Cash Flow1.2 B ₺—
Capital Expenditures-10.4 M ₺—
Free Cash Flow-703.6 M ₺—
Dividends Paid0 ₺—

Peer Comparison· REIT - Hotel & Motel

CompanyCF MarginFCF MarginCapEx RatioCF/Net Income
KZBGY63.8%-36.9%0.5%130.3%
SVC6.6%2.2%9.6%-48.6%
BHR6.8%3.9%15.9%-304.8%
CLDT24.9%24.9%6.6%794.6%
INN20.7%16.5%18.4%-1,195.7%
RLJ18.6%18.6%15.3%1,023.1%
Industry median20.7%14.3%9.4%152.6%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 3, 26. This content is for informational purposes only and is not investment advice.