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Indeks Bilgisayar Sistemleri Mühendislik Sanayi ve Ticaret Anonim Sirketi (INDES.IS)

TRY10.75 +0.10 (+0.94%)
TR IST Technology Computer Hardware
Address Ayazaga Mahallesi, Mimar Sinan Sokak 34485
Istanbul, TR
CEO Nevres Erol Bilecik
Website index.com.tr
IPO 2004-06-28
ISIN TREINDX00019

Explore sections of this company profile

Description

Indeks Bilgisayar Sistemleri Mühendislik Sanayi ve Ticaret A.S., alongside its various subsidiaries, is primarily involved in distributing a wide array of information technology products throughout Turkey. The company organizes its business activities into two main sectors: IT Technologies and Telecommunications, and a separate division for Logistics Services and Leasing. Its comprehensive product selection features personal computers, tablets, notebooks, GSM services, networking and telecommunications hardware, computer components, mobile phones, printers, wearable devices, OEM goods, data storage solutions, smart home technology, consumer electronics, software, peripheral equipment, and related accessories. In addition to product sales, it provides spare parts, trades in domestic electronic appliances, and offers both logistical support and leasing options. Established in Istanbul, Turkey, in 1989, the firm maintains its headquarters in that city.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
TRY10.75 +0.10 (+0.94%)
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Volume Profile
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Liquidity & share structure
Average Volume
10M
Beta
0.29
Float Shares
449.27M
Free Float %
59.9%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+0.79% +1.06% +12.45% +45.01% +58.64% +45.93% +76.46% +113.99% +473.50% +1,937.37% +10,822.77%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
10.75
DCF (Unlevered) 18.36 +70.8%
DCF (Levered) 17.31 +61.1%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 100% Bullish
Rating 2026-05 Change
Strong Buy 0 0
Buy 2 0
Hold 0 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
4.17
Safe zone
Piotroski F-Score
6 / 9
Average
MOAT Score
5 / 10
Developing
Operational MOAT
✗ Below peers
  • ✓
    Revenue growth Computer Hardware: +13.3%
    +37.4% ★ Q1'26: +62.7% (vs Q1'25)
  • ✓
    EPS growth Computer Hardware: +25.2%
    +56.8% ★ Q1'26: +258.3% (vs Q1'25)
  • ✓
    FCF margin FCF growth · Computer Hardware: +24.2%
    +1.5% ★ Q1'26: +1.3% (vs Q1'25)
  • ✗
    EBIT margin Computer Hardware: +5.6%
    +6.0% ★ Q1'26: +8.3% (vs Q1'25)
  • ✓
    ROIC Computer Hardware: +5.3%
    +51.0% ★ Q1'26: +80.8% (vs Q1'25)
  • ✓
    Share dilution Computer Hardware: +0.0%
    +0.0% Q1'26: 0.0% (vs Q1'25)
  • ✓
    Debt / EBITDA Net debt/EBITDA · Computer Hardware: -0.55×
    1.07× Q1'26: 0.46× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
▶ WACC components (optional)
Ke (Cost of Equity) = Rf + β (1.04) × ERP
WACC = 59% × Ke + 41% × Kd (74.0%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
—
Intrinsic value (base): 18.36 Current price: 10.75
Enterprise Value: — Equity Value: — Terminal Value: — TV as % of EV: —

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2015
actual 		Dec 2016
actual 		Dec 2017
actual 		Dec 2018
actual 		Dec 2019
actual 		Dec 2020
actual 		Dec 2021
actual 		Dec 2022
actual 		Dec 2023
actual 		Dec 2024
actual 		Dec 2025
actual 		Dec 2026
1 Rev. Ana.
1 EPS Ana. 		Dec 2027
1 Rev. Ana.
1 EPS Ana. 		Dec 2028
1 Rev. Ana.
Revenue
3.38B
est: 3.30B (+2.5%)
3.79B
est: 3.79B (+0.2%)
4.72B
est: 4.58B (+3.0%)
3.90B
est: 4.61B (-15.4%)
5.03B
est: 3.97B (+26.7%)
10.26B
est: 9.76B (+5.1%)
13.09B
est: 13.03B (+0.5%)
25.01B
est: 25.01B (0.0%)
49.23B
est: 42.06B (+17.1%)
66.66B
est: 63.38B (+5.2%)
91.60B
est: 92.49B (-1.0%)
116.74B
116.74B – 116.74B
+26.2% YoY
143.84B
143.84B – 143.84B
+23.2% YoY
141.70B
141.70B – 141.70B
-1.5% YoY
EBITDA
94.20M
est: 187.28M (-49.7%)
102.27M
est: 214.83M (-52.4%)
245.21M
est: 260.01M (-5.7%)
244.67M
est: 261.70M (-6.5%)
217.15M
est: 225.06M (-3.5%)
354.04M
est: 553.29M (-36.0%)
853.25M
est: 739.15M (+15.4%)
1.41B
est: 1.42B (-0.5%)
3.05B
est: 2.39B (+27.8%)
4.37B
est: 3.94B (+10.9%)
5.66B
est: 5.75B (-1.5%)
7.26B
7.26B – 7.26B
+26.2% YoY
8.94B
8.94B – 8.94B
+23.2% YoY
8.81B
8.81B – 8.81B
-1.5% YoY
EBIT
153.57M
est: 182.54M (-15.9%)
99.39M
est: 209.40M (-52.5%)
307.63M
est: 253.44M (+21.4%)
241.31M
est: 255.08M (-5.4%)
208.85M
est: 219.37M (-4.8%)
339.75M
est: 539.30M (-37.0%)
836.80M
est: 720.47M (+16.1%)
1.39B
est: 1.38B (+0.6%)
2.97B
est: 2.33B (+27.8%)
4.27B
est: 3.84B (+11.1%)
5.48B
est: 5.61B (-2.2%)
7.08B
7.08B – 7.08B
+26.2% YoY
8.72B
8.72B – 8.72B
+23.2% YoY
8.59B
8.59B – 8.59B
-1.5% YoY
Net Income
44.92M
est: 44.92M (0.0%)
52.00M
est: 49.04M (+6.0%)
155.51M
est: 83.73M (+85.7%)
121.65M
est: 49.71M (+144.7%)
92.53M
est: 81.64M (+13.3%)
143.35M
est: 150.64M (-4.8%)
403.04M
est: 401.77M (+0.3%)
551.50M
est: 560.33M (-1.6%)
508.22M
est: 889.28M (-42.9%)
327.99M
est: 484.07M (-32.2%)
519.27M
est: 461.28M (+12.6%)
697.16M
697.16M – 697.16M
+51.1% YoY
1.01B
1.01B – 1.01B
+44.3% YoY
—
— – —
-100.0% YoY
SGA
61.14M
est: 35.46M (+72.4%)
63.81M
est: 40.68M (+56.9%)
73.52M
est: 49.23M (+49.3%)
25.29M
est: 49.55M (-49.0%)
30.09M
est: 42.62M (-29.4%)
129.17M
est: 104.77M (+23.3%)
156.68M
est: 139.96M (+11.9%)
265.17M
est: 268.63M (-1.3%)
688.65M
est: 451.68M (+52.5%)
303.08M
est: 584.96M (-48.2%)
462.19M
est: 853.70M (-45.9%)
1.08B
1.08B – 1.08B
+26.2% YoY
1.33B
1.33B – 1.33B
+23.2% YoY
1.31B
1.31B – 1.31B
-1.5% YoY
EPS
0.20
est: 0.06 (+233.9%)
0.23
est: 0.07 (+251.7%)
0.69
est: 0.11 (+518.1%)
0.54
est: 0.07 (+714.7%)
0.41
est: 0.11 (+276.7%)
0.64
est: 0.20 (+218.6%)
1.80
est: 0.54 (+236.0%)
0.74
est: 0.75 (-1.0%)
0.68
est: 1.19 (-42.7%)
0.44
est: 0.65 (-31.8%)
0.69
est: 0.62 (+12.2%)
0.93
0.93 – 0.93
+51.1% YoY
1.34
1.34 – 1.34
+44.3% YoY
—
— – —
-100.0% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-26 A 4/5 4/5 4/5 3/5 2/5 4/5 5/5
2026-05-25 A 4/5 4/5 4/5 3/5 2/5 4/5 5/5
2026-05-22 A 4/5 4/5 4/5 3/5 2/5 4/5 5/5
2026-05-21 A- 4/5 4/5 4/5 3/5 1/5 4/5 4/5
2026-05-20 A- 4/5 4/5 4/5 3/5 1/5 4/5 4/5
2026-05-18 A- 4/5 5/5 4/5 3/5 1/5 4/5 4/5
2026-05-15 A- 4/5 4/5 4/5 3/5 1/5 4/5 4/5
2026-05-14 A- 4/5 4/5 4/5 3/5 1/5 4/5 4/5
2026-05-13 A- 4/5 4/5 4/5 3/5 1/5 4/5 4/5
2026-05-12 A- 4/5 4/5 4/5 3/5 1/5 4/5 4/5
2026-05-11 A- 4/5 4/5 4/5 3/5 1/5 4/5 4/5
2026-05-08 A 4/5 5/5 4/5 3/5 1/5 4/5 5/5
2026-05-07 A 4/5 5/5 4/5 3/5 1/5 4/5 5/5
2026-05-06 A 4/5 5/5 4/5 3/5 1/5 4/5 5/5
2026-05-05 A 4/5 5/5 4/5 3/5 1/5 4/5 5/5
2026-05-04 A 4/5 5/5 4/5 3/5 1/5 4/5 5/5
2026-04-30 A- 4/5 4/5 4/5 3/5 1/5 4/5 5/5
2026-04-29 A- 4/5 4/5 3/5 3/5 1/5 4/5 5/5
2026-04-28 A- 4/5 4/5 3/5 3/5 1/5 4/5 5/5
2026-04-27 A- 4/5 4/5 3/5 3/5 1/5 4/5 5/5
2026-04-24 A- 4/5 4/5 3/5 3/5 1/5 4/5 5/5
2026-04-22 B+ 3/5 4/5 3/5 3/5 1/5 4/5 4/5
2026-04-21 B+ 3/5 4/5 3/5 3/5 1/5 4/5 4/5
2026-04-20 B+ 3/5 4/5 3/5 3/5 1/5 4/5 4/5
2026-04-17 B+ 3/5 4/5 3/5 3/5 1/5 4/5 4/5
2026-04-16 B+ 3/5 4/5 3/5 3/5 1/5 4/5 4/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
3.61B
OE per share TTM
4.81
Owner's Yield
41.99%
Maintenance CapEx ratio
17.71%
Maint CapEx / Avg PPE
1.9%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
—
Total invested
—
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 8 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 Avantis Emerging Markets Small Cap Equity ETF AVEE 0.01% 6.6K 0.42%
2 Dimensional Emerging Markets Sustainability Core 1 ETF DFSE 0.00% 17.6K 0.44%
3 Avantis Responsible Emerging Markets Equity ETF AVSE 0.00% 4.7K 0.33%
4 Dimensional - Emerging Markets Core Equity 2 ETF DFEM 0.00% 137.4K 0.39%
5 Dimensional - Emerging Core Equity Market ETF DFAE 0.00% 132.6K 0.29%
6 Avantis Emerging Markets ex-China Equity ETF AVXC 0.00% 2.5K 0.33%
7 Dimensional - Emerging Markets ex China Core Equity ETF DEXC 0.00% 369.12 0.56%
8 Dimensional World ex U.S. Core Equity 2 ETF DFAX 0.00% 13.0K 0.28%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
9.94M
Shares Outstanding
750.00M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Atilla Kayalioglu Vice Chief Executive Officer & Executive Director — male
Halil Duman Chief Financial Officer & Executive Director — male
Halim Çalayan Accounting Manager — male
Nevres Erol Bilecik Chairman & Chief Executive Officer — male
Salih Bas Deputy Chairman — male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.

Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits

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