π Key Highlights (Balance Sheet & Income Statement Analysis)
π Balance Sheet Analysis (Mio TL)
π° Cash & Equivalents: 57.93 → 149.18 (+157.52%)
π’ Total Assets: 350.55 → 482.83 (+37.73%)
πΈ Total Liabilities: 1.17 → 7.67 (+558.22%)
π Net Debt: -350.16 → -482.53
π Equity: 349.39 → 475.16 (+36.00%)
πΌ Income Statement Analysis (Mio TL)
π️ Net Sales: 3,394.64 → 3,107.96 (-8.45%)
⚙️ Cost of Sales: 3,190.31 → 2,976.21 (-6.71%)
π΅ Gross Profit/Loss: 204.32 → 131.75 (-35.52%)
π Operating Expenses: 18.05 → 10.81 (-40.10%)
π EBITDA: 186.37 → 121.05 (-35.05%)
π° Net Profit/Loss: 23.54 → 19.86 (-15.64%)
The Anatomy of a Stock: 5 Surprising Facts About MTRYO You Probably Didn’t Know
Most investors look for a stock’s story in its price chart, while the real insights are often hidden deep within financial reports. Metro YatΔ±rΔ±m OrtaklΔ±ΔΔ± (MTRYO) provides one of the clearest examples of this phenomenon; its publicly available data contains surprising facts that often contradict market perception. This article examines the company’s financials and operations to reveal the five most impactful findings.
1. Profits Can Shrink Even as Prices Rise: The Performance Paradox
The relationship between a stock’s market performance and a company’s fundamental financial health is not always linear. MTRYO is a clear example of this. As of October 2025, the stock’s annual return was a strong 30.25%. However, this market success contrasts sharply with the company’s operational performance.
The company’s nine-month financial results for 2025, compared with the same period in 2024, reveal:
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Revenue: decreased by 8.45%
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Gross Profit: decreased by 35.52%
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Net Income: decreased by 15.64%
This indicates that while the stock price is rising, the company’s engine is stalling. This sharp divergence between market sentiment and the company’s profit-generating capacity is a paradox that requires investors to question the underlying reasons.
2. 95% Public Float, 44% Voting Power: The Math of Ownership
MTRYO’s ownership structure highlights the contrast between capital distribution and management control. As of September 30, 2025, the company’s free float was an impressive 94.96%, meaning 95% of the capital is held by general investors labeled as "Other."
However, the annual report reveals a critical detail: Metro YatΔ±rΔ±m Menkul DeΔerler A.Ε., while owning only 5% of the capital, controls 44.12% of the voting rights. This is made possible through Class A privileged shares. Each Class A share carries 15 votes, while publicly held Class B shares carry only 1 vote each. This structure clearly demonstrates how limited influence small investors have over decisions that shape the company’s future.
3. High Valuation for a Shrinking Company: What the P/E Ratio Reveals
A company’s valuation often reflects market expectations for future profit growth. Despite signals of financial contraction, MTRYO is valued highly, with a Price/Earnings (P/E) ratio of 49.32.
A high P/E ratio indicates that the market expects strong profit growth from the company in the future. However, this expectation clearly conflicts with the financial reality shown by declining revenue and profits. For investors, this raises an important puzzle: why is the market pricing the company with high growth potential when recent performance points in the opposite direction?
4. Capital Increase Rejected by the CMB
One of the most significant recent events for the company was the regulatory rejection of its capital increase proposal. On February 15, 2024, the company applied to the Capital Markets Board (CMB) for a 100% paid-in capital increase.
On June 20, 2025, the CMB announced that it had rejected the application. The reason cited in the annual report was that the company did not meet certain criteria outlined in a CMB principle decision. A regulator rejecting a capital increase request sends a strong warning signal to the market about the company’s situation or the feasibility of its plans, making this a critical development for investors.
5. A Stock Off the Analyst Radar: The Importance of Doing Your Own Research
How closely professional financial institutions follow a stock can indicate how transparent and predictable it is for investors. In the case of MTRYO, the situation is clear:
"Analyst Recommendations: No analyst recommendation is available for MTRYO."
The lack of analyst coverage shows that the stock is not widely followed by major financial institutions. This places the responsibility for understanding the previously mentioned paradoxes entirely on individual investors. Investing in such a stock may offer undiscovered value potential, but it also carries risks due to limited external verification and lower transparency.
Conclusion: The Story Behind the Numbers
Metro YatΔ±rΔ±m OrtaklΔ±ΔΔ± presents investors with a puzzle: How can a stock price rise while revenue and profits fall? How can control concentrate in a 5% stake while 95% of shares are publicly held? And how can a shrinking company be assigned such high growth value in an environment where even regulatory capital increases are rejected? These questions highlight that MTRYO’s story goes far beyond the numbers, reminding investors of the importance of looking beneath the surface.