ASELSAN Stock (ASELS) Investor Guide

Q: What is ASELSAN's ownership structure?

The TSKGV foundation holds 74.2 percent, with roughly 25.8 percent publicly floated.

Q: Does ASELS pay dividends?

It has paid dividends in the past; the amount depends on the annual general assembly decision.

Q: How does inflation accounting affect ASELS?

Inflation-adjusted statements change lira-based figures, so dollar-based growth is more comparable.

ASELS stock is the ticker for shares of ASELSAN Elektronik Sanayi ve Ticaret A.S. on Borsa Istanbul. With a market value above $30 billion, it is the most valuable listed company on the exchange. In its ownership structure, the Turkish Armed Forces Foundation (TSKGV) holds 74.2 percent while roughly 25.8 percent is publicly floated. This guide gathers the core financial indicators for readers assessing ASELS. Note: this content is for information only and is not investment advice.

Core indicators for ASELS stock

When assessing a defense-electronics company, the order backlog, export momentum and R&D intensity matter as much as revenue. ASELSAN’s recent figures are summarized below.

Indicator	Value (2025)
BIST ticker	ASELS
Revenue	TL 180.4 billion
Order backlog	$20.4 billion
Export deliveries	$958 million
EBITDA margin	26.2%
Market value	$30 billion+
TSKGV stake	74.2%
Free float	~25.8%

Why the backlog matters

For defense firms, the order backlog is the strongest signal of future revenue. ASELSAN’s backlog of $20.4 billion by end-2025 is several times its current annual revenue, providing revenue visibility for years ahead. The 46 percent jump from $14 billion in 2024 shows strong order intake.

What to keep in mind

Several structural factors are worth weighing when studying ASELS:

Inflation accounting: Under high inflation, statements are restated per IAS 29, so lira-based profit and revenue can be reported under different methods across periods; dollar-based growth offers a cleaner comparison.
Currency effect: Export revenue is in foreign currency, so exchange-rate moves affect both the revenue and cost sides.
Ownership: With most shares held by TSKGV, the free float is relatively limited.
Project dependence: Defense projects are long-term and state-linked, so political and budget dynamics can affect revenue flow.

Dividend and capital policy

ASELSAN has distributed dividends in the past, but the payout rate and amount vary each year based on the general assembly decision and that year’s performance. Investors should follow the company’s official disclosures for the current dividend policy and any capital actions.

Disclaimer: This content is for information purposes only and does not constitute investment advice. Investment decisions should be based on personal research and, where needed, a licensed advisor.

Frequently Asked Questions

Which exchange does ASELS trade on?

ASELS is the ticker for ASELSAN shares on Borsa Istanbul (BIST) and one of the index’s most valuable companies.

What is ASELSAN’s ownership structure?

The TSKGV foundation holds 74.2 percent of shares, with roughly 25.8 percent publicly floated.

Does ASELS pay dividends?

ASELSAN has paid dividends in the past, but the amount and rate depend on the annual general assembly decision. Check official disclosures for current details.