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How does THYAO.IS make money? Does THYAO.IS have pricing power? What's the Earnings Whisper? Will THYAO.IS profit more as the business scales? What is THYAO.IS's management track record? Is THYAO.IS's current price justified?

Türk Hava Yollari Anonim Ortakligi

TRY 292.5 +$18.25 (+6.65%)

IST · 15 Sep 2026 08:05 UTC

Previous Close

TRY 295.5

Day Range

TRY 292.25TRY 296.5

Year Range

TRY 262.75TRY 355.5

Market Cap

401.42B

AVG Volume

47.77M

Trailing/Forward PE

3.13/179.36

PEG ratio

0.32

Dividend Yield

1.18%

Next Earnings Date

2026-11-11

Primary Exchange

Istanbul Stock Exchange

Revenue (USD)

THYAO.IS Revenue (USD) by year
Period	Revenue (USD)
2025	23.88B
2024	22.67B
2023	20.94B
2022	17.79B
2021	9.74B
2020	6.52B
2019	13.08B
2018	12.43B
2017	10.98B
2016	9.69B

Net Income (USD)

THYAO.IS Net Income (USD) by year
Period	Net Income (USD)
2025	2.88B
2024	3.42B
2023	6.02B
2022	2.64B
2021	852.93M
2020	-805.92M
2019	782.2M
2018	664.87M
2017	189.36M
2016	-115.87M

Operating Income (USD)

THYAO.IS Operating Income (USD) by year
Period	Operating Income (USD)
2025	2.21B
2024	1.95B
2023	-191M
2022	3.12B
2021	1.53B
2020	-139.89M
2019	1.04B
2018	2.52B
2017	1.28B
2016	-131.57M

EBITDA (USD)

THYAO.IS EBITDA (USD) by year
Period	EBITDA (USD)
2025	4.88B
2024	3.13B
2023	3.53B
2022	3.3B
2021	1.75B
2020	146.22M
2019	2.55B
2018	2.24B
2017	1.9B
2016	848.18M

Cash Flows (USD)

THYAO.IS Cash Flows (USD) by year
Period	Cash Flows (USD)
2025	2.53B
2024	2.56B
2023	3.94B
2022	5.88B
2021	3.9B
2020	-351.79M
2019	1.25B
2018	834.01M
2017	1.66B
2016	-219.04M

EPS (USD)

THYAO.IS EPS (USD) by year
Period	EPS (USD)
2025	2.09
2024	2.48
2023	4.36
2022	1.92
2021	0.62
2020	-0.59
2019	0.58
2018	0.48
2017	0.14
2016	-0.09

Expenses (USD)

THYAO.IS Expenses (USD) by year
Period	Expenses (USD)
2025	3.41B
2024	3.6B
2023	3.4B
2022	2.57B
2021	1.73B
2020	1.98B
2019	2.69B
2018	2.58B
2017	2.2B
2016	2.32B

Cash & Debt (USD)

THYAO.IS Cash & Debt (USD) by year
Period	Cash & Debt (USD)
2025	6.15B
2024	6.07B
2023	6.01B
2022	4.69B
2021	2.69B
2020	1.81B
2019	2.46B
2018	2.01B
2017	2.08B
2016	1.81B

Debt ratios

THYAO.IS Debt ratios by year
Period	Debt ratios
2025	0.76
2024	0.67
2023	0.94
2022	1.21
2021	1.84
2020	2.16
2019	1.45
2018	1.3

Margins

THYAO.IS Margins by year
Period	Margins
2025	16.06%
2024	19.16%
2023	23.44%
2022	24.11%
2021	22.33%
2020	5.72%
2019	17.57%
2018	20.89%
2017	20.01%
2016	11.7%

Return on Capital

THYAO.IS Return on Capital by year
Period	Return on Capital
2025	13.8%
2024	17.73%
2023	38.9%
2022	27.26%
2021	12.49%
2020	-15.16%
2019	11.41%
2018	11.25%
2017	3.56%
2016	-2.28%

Shares Outstanding

THYAO.IS Shares Outstanding by year
Period	Shares Outstanding
2025	1.37B
2024	1.38B
2023	1.38B
2022	1.38B
2021	1.38B
2020	1.37B
2019	1.38B
2018	1.27B
2017	1.31B
2016	1.38B

Dividends (USD)

THYAO.IS Dividends (USD) by year
Period	Dividends (USD)
2025	6.88

Book Value Per Share (USD)

THYAO.IS Book Value Per Share (USD) by year
Period	Book Value Per Share (USD)
2025	15.18
2024	13.99
2023	11.22
2022	7.03
2021	4.95
2020	3.87
2019	4.97
2018	4.67
2017	4.05
2016	3.68

Total Assets (USD)

THYAO.IS Total Assets (USD) by year
Period	Total Assets (USD)
2025	45.69B
2024	39.67B
2023	35.56B
2022	30.93B
2021	26.65B
2020	25.21B
2019	24.69B
2018	20.61B
2017	18.11B
2016	18.45B

PE Ratio

THYAO.IS PE Ratio by year
Period	PE Ratio
Sep 26	2.67
Sep 26	2.71
Sep 26	2.69
Aug 26	2.8
Aug 26	2.75
Aug 26	2.8
Aug 26	2.82
Jul 26	2.9
Jul 26	2.9
Jul 26	3.07
Jul 26	3.22
Jul 26	3.13
Jun 26	3.39
Jun 26	3.36
Jun 26	3.18
Jun 26	3.08
May 26	3.09
May 26	3.01
May 26	3.15
May 26	3.27
Apr 26	3.26
Apr 26	3.45
Apr 26	3.5
Apr 26	3.46
Apr 26	3.17
Mar 26	3.33
Mar 26	3.29
Mar 26	3.33
Mar 26	3.16
Feb 26	3.53
Feb 26	3.68
Feb 26	4.01
Feb 26	3.72
Jan 26	3.52
Jan 26	3.49
Jan 26	3.4
Jan 26	3.4
Jan 26	3.21
Dec 25	2.98
Dec 25	3.1
Dec 25	3.05
Dec 25	3.04
Nov 25	3.07
Nov 25	3.07
Nov 25	3.04
Nov 25	3.28
Oct 25	3.31
Oct 25	3.39
Oct 25	3.33
Oct 25	3.59
Oct 25	3.57
Sep 25	3.37
Sep 25	3.38
Sep 25	3.32
Sep 25	3.39
Aug 25	3.56
Aug 25	3.61
Aug 25	3.55
Aug 25	3.38
Aug 25	3.11
Jul 25	3.16
Jul 25	3.13
Jul 25	3.19
Jul 25	3.22
Jun 25	2.71
Jun 25	2.61
Jun 25	2.7
Jun 25	2.94
May 25	2.81
May 25	2.9
May 25	3.05
May 25	3.06
May 25	3.06
Apr 25	3.33
Apr 25	3.39
Apr 25	3.29
Apr 25	3.24
Mar 25	1.9
Mar 25	1.76
Mar 25	2.14
Mar 25	2.14
Feb 25	1.97
Feb 25	1.97
Feb 25	2.03
Feb 25	2.08
Jan 25	2.06
Jan 25	2.02
Jan 25	1.98
Jan 25	1.93
Jan 25	1.96
Dec 24	1.81
Dec 24	1.8
Dec 24	1.87
Dec 24	1.89
Nov 24	1.8
Nov 24	1.77
Nov 24	1.84
Nov 24	1.85
Nov 24	1.74
Oct 24	1.76

Free Cash Flow Yield

THYAO.IS Free Cash Flow Yield by year
Period	Free Cash Flow Yield
Sep 26	34.25%
Sep 26	33.71%
Sep 26	34.06%
Aug 26	32.66%
Aug 26	33.23%
Aug 26	32.67%
Aug 26	32.44%
Jul 26	31.52%
Jul 26	31.56%
Jul 26	29.81%
Jul 26	28.39%
Jul 26	29.19%
Jun 26	25.93%
Jun 26	26.15%
Jun 26	27.66%
Jun 26	28.49%
May 26	28.46%
May 26	29.19%
May 26	27.88%
May 26	26.83%
Apr 26	26.97%
Apr 26	25.48%
Apr 26	25.09%
Apr 26	25.37%
Apr 26	27.7%
Mar 26	20.91%
Mar 26	21.16%
Mar 26	20.92%
Mar 26	22.03%
Feb 26	19.73%
Feb 26	18.92%
Feb 26	17.36%
Feb 26	18.7%
Jan 26	19.78%
Jan 26	19.92%
Jan 26	20.49%
Jan 26	20.45%
Jan 26	21.7%
Dec 25	29.49%
Dec 25	28.4%
Dec 25	28.88%
Dec 25	28.95%
Nov 25	28.66%
Nov 25	28.63%
Nov 25	28.95%
Nov 25	26.85%
Oct 25	26.56%
Oct 25	25.99%
Oct 25	26.44%
Oct 25	24.53%
Oct 25	24.68%
Sep 25	19.95%
Sep 25	19.85%
Sep 25	20.21%
Sep 25	19.8%
Aug 25	18.85%
Aug 25	18.59%
Aug 25	18.94%
Aug 25	19.86%
Aug 25	21.59%
Jul 25	21.24%
Jul 25	21.44%
Jul 25	21.04%
Jul 25	20.88%
Jun 25	27.58%
Jun 25	28.58%
Jun 25	27.66%
Jun 25	25.39%
May 25	26.59%
May 25	25.78%
May 25	24.52%
May 25	24.39%
May 25	24.4%
Apr 25	22.4%
Apr 25	22.06%
Apr 25	22.71%
Apr 25	23.06%
Mar 25	25.73%
Mar 25	27.87%
Mar 25	22.88%
Mar 25	22.86%
Feb 25	24.91%
Feb 25	24.83%
Feb 25	24.09%
Feb 25	23.49%
Jan 25	23.81%
Jan 25	24.28%
Jan 25	24.67%
Jan 25	25.43%
Jan 25	24.99%
Dec 24	28.59%
Dec 24	28.67%
Dec 24	27.58%
Dec 24	27.32%
Nov 24	28.76%
Nov 24	29.23%
Nov 24	28.08%
Nov 24	27.98%
Nov 24	29.74%
Oct 24	29.36%

Price to Sales

THYAO.IS Price to Sales by year
Period	Price to Sales
Sep 26	0.34
Sep 26	0.34
Sep 26	0.34
Aug 26	0.36
Aug 26	0.35
Aug 26	0.36
Aug 26	0.36
Jul 26	0.37
Jul 26	0.37
Jul 26	0.39
Jul 26	0.41
Jul 26	0.4
Jun 26	0.41
Jun 26	0.4
Jun 26	0.38
Jun 26	0.37
May 26	0.37
May 26	0.36
May 26	0.38
May 26	0.39
Apr 26	0.39
Apr 26	0.42
Apr 26	0.42
Apr 26	0.42
Apr 26	0.38
Mar 26	0.39
Mar 26	0.38
Mar 26	0.39
Mar 26	0.37
Feb 26	0.41
Feb 26	0.43
Feb 26	0.47
Feb 26	0.44
Jan 26	0.41
Jan 26	0.41
Jan 26	0.4
Jan 26	0.4
Jan 26	0.38
Dec 25	0.38
Dec 25	0.39
Dec 25	0.38
Dec 25	0.38
Nov 25	0.39
Nov 25	0.39
Nov 25	0.38
Nov 25	0.41
Oct 25	0.42
Oct 25	0.43
Oct 25	0.42
Oct 25	0.45
Oct 25	0.45
Sep 25	0.47
Sep 25	0.47
Sep 25	0.46
Sep 25	0.47
Aug 25	0.49
Aug 25	0.5
Aug 25	0.49
Aug 25	0.47
Aug 25	0.43
Jul 25	0.44
Jul 25	0.43
Jul 25	0.44
Jul 25	0.45
Jun 25	0.41
Jun 25	0.39
Jun 25	0.41
Jun 25	0.44
May 25	0.42
May 25	0.44
May 25	0.46
May 25	0.46
May 25	0.46
Apr 25	0.5
Apr 25	0.51
Apr 25	0.5
Apr 25	0.49
Mar 25	0.51
Mar 25	0.47
Mar 25	0.57
Mar 25	0.57
Feb 25	0.53
Feb 25	0.53
Feb 25	0.54
Feb 25	0.56
Jan 25	0.55
Jan 25	0.54
Jan 25	0.53
Jan 25	0.52
Jan 25	0.53
Dec 24	0.52
Dec 24	0.52
Dec 24	0.54
Dec 24	0.55
Nov 24	0.52
Nov 24	0.51
Nov 24	0.53
Nov 24	0.53
Nov 24	0.5
Oct 24	0.51

EV/EBITDA

THYAO.IS EV/EBITDA by year
Period	EV/EBITDA
Sep 26	3.88
Sep 26	3.9
Sep 26	3.89
Aug 26	3.96
Aug 26	3.93
Aug 26	3.96
Aug 26	3.97
Jul 26	4.02
Jul 26	4.01
Jul 26	4.12
Jul 26	4.21
Jul 26	4.16
Jun 26	4.33
Jun 26	4.31
Jun 26	4.2
Jun 26	4.15
May 26	4.15
May 26	4.1
May 26	4.18
May 26	4.26
Apr 26	4.25
Apr 26	4.36
Apr 26	4.39
Apr 26	4.37
Apr 26	4.2
Mar 26	3.96
Mar 26	3.94
Mar 26	3.96
Mar 26	3.86
Feb 26	4.08
Feb 26	4.17
Feb 26	4.37
Feb 26	4.2
Jan 26	4.08
Jan 26	4.06
Jan 26	4
Jan 26	4.01
Jan 26	3.89
Dec 25	4.56
Dec 25	4.65
Dec 25	4.61
Dec 25	4.61
Nov 25	4.63
Nov 25	4.63
Nov 25	4.61
Nov 25	4.79
Oct 25	4.82
Oct 25	4.87
Oct 25	4.83
Oct 25	5.03
Oct 25	5.01
Sep 25	6.4
Sep 25	6.42
Sep 25	6.36
Sep 25	6.43
Aug 25	6.61
Aug 25	6.66
Aug 25	6.59
Aug 25	6.42
Aug 25	6.14
Jul 25	6.19
Jul 25	6.16
Jul 25	6.22
Jul 25	6.25
Jun 25	5.46
Jun 25	5.35
Jun 25	5.45
Jun 25	5.71
May 25	5.57
May 25	5.67
May 25	5.83
May 25	5.85
May 25	5.84
Apr 25	6.14
Apr 25	6.2
Apr 25	6.09
Apr 25	6.04
Mar 25	6.14
Mar 25	5.87
Mar 25	6.58
Mar 25	6.59
Feb 25	6.26
Feb 25	6.27
Feb 25	6.38
Feb 25	6.48
Jan 25	6.43
Jan 25	6.35
Jan 25	6.29
Jan 25	6.18
Jan 25	6.24
Dec 24	5.49
Dec 24	5.48
Dec 24	5.62
Dec 24	5.65
Nov 24	5.47
Nov 24	5.42
Nov 24	5.55
Nov 24	5.57
Nov 24	5.36
Oct 24	5.41

Price/Operating Cashflow

THYAO.IS Price/Operating Cashflow by year
Period	Price/Operating Cashflow
Sep 26	1.69
Sep 26	1.72
Sep 26	1.7
Aug 26	1.77
Aug 26	1.74
Aug 26	1.77
Aug 26	1.78
Jul 26	1.83
Jul 26	1.83
Jul 26	1.94
Jul 26	2.04
Jul 26	1.98
Jun 26	2.15
Jun 26	2.14
Jun 26	2.02
Jun 26	1.96
May 26	1.96
May 26	1.91
May 26	2
May 26	2.08
Apr 26	2.07
Apr 26	2.19
Apr 26	2.23
Apr 26	2.2
Apr 26	2.02
Mar 26	2.55
Mar 26	2.52
Mar 26	2.55
Mar 26	2.42
Feb 26	2.7
Feb 26	2.82
Feb 26	3.07
Feb 26	2.85
Jan 26	2.7
Jan 26	2.68
Jan 26	2.6
Jan 26	2.61
Jan 26	2.46
Dec 25	2.07
Dec 25	2.15
Dec 25	2.12
Dec 25	2.11
Nov 25	2.13
Nov 25	2.14
Nov 25	2.11
Nov 25	2.28
Oct 25	2.3
Oct 25	2.35
Oct 25	2.31
Oct 25	2.49
Oct 25	2.48
Sep 25	3.02
Sep 25	3.03
Sep 25	2.98
Sep 25	3.04
Aug 25	3.19
Aug 25	3.23
Aug 25	3.18
Aug 25	3.03
Aug 25	2.79
Jul 25	2.83
Jul 25	2.81
Jul 25	2.86
Jul 25	2.88
Jun 25	2.41
Jun 25	2.33
Jun 25	2.41
Jun 25	2.62
May 25	2.5
May 25	2.58
May 25	2.72
May 25	2.73
May 25	2.73
Apr 25	2.97
Apr 25	3.02
Apr 25	2.93
Apr 25	2.89
Mar 25	2.64
Mar 25	2.44
Mar 25	2.97
Mar 25	2.97
Feb 25	2.73
Feb 25	2.74
Feb 25	2.82
Feb 25	2.9
Jan 25	2.86
Jan 25	2.8
Jan 25	2.76
Jan 25	2.67
Jan 25	2.72
Dec 24	2.53
Dec 24	2.52
Dec 24	2.62
Dec 24	2.65
Nov 24	2.51
Nov 24	2.47
Nov 24	2.57
Nov 24	2.58
Nov 24	2.43
Oct 24	2.46

Price to Book

THYAO.IS Price to Book by year
Period	Price to Book
Sep 26	0.39
Sep 26	0.39
Sep 26	0.39
Aug 26	0.41
Aug 26	0.4
Aug 26	0.41
Aug 26	0.41
Jul 26	0.42
Jul 26	0.42
Jul 26	0.44
Jul 26	0.47
Jul 26	0.45
Jun 26	0.47
Jun 26	0.46
Jun 26	0.44
Jun 26	0.43
May 26	0.43
May 26	0.42
May 26	0.43
May 26	0.45
Apr 26	0.45
Apr 26	0.48
Apr 26	0.48
Apr 26	0.48
Apr 26	0.44
Mar 26	0.45
Mar 26	0.44
Mar 26	0.45
Mar 26	0.42
Feb 26	0.47
Feb 26	0.49
Feb 26	0.54
Feb 26	0.5
Jan 26	0.47
Jan 26	0.47
Jan 26	0.46
Jan 26	0.46
Jan 26	0.43
Dec 25	0.46
Dec 25	0.47
Dec 25	0.47
Dec 25	0.47
Nov 25	0.47
Nov 25	0.47
Nov 25	0.47
Nov 25	0.5
Oct 25	0.51
Oct 25	0.52
Oct 25	0.51
Oct 25	0.55
Oct 25	0.55
Sep 25	0.56
Sep 25	0.56
Sep 25	0.55
Sep 25	0.56
Aug 25	0.59
Aug 25	0.6
Aug 25	0.59
Aug 25	0.56
Aug 25	0.52
Jul 25	0.52
Jul 25	0.52
Jul 25	0.53
Jul 25	0.53
Jun 25	0.48
Jun 25	0.46
Jun 25	0.48
Jun 25	0.52
May 25	0.5
May 25	0.51
May 25	0.54
May 25	0.54
May 25	0.54
Apr 25	0.59
Apr 25	0.6
Apr 25	0.58
Apr 25	0.57
Mar 25	0.62
Mar 25	0.57
Mar 25	0.7
Mar 25	0.7
Feb 25	0.64
Feb 25	0.65
Feb 25	0.66
Feb 25	0.68
Jan 25	0.67
Jan 25	0.66
Jan 25	0.65
Jan 25	0.63
Jan 25	0.64
Dec 24	0.67
Dec 24	0.67
Dec 24	0.7
Dec 24	0.7
Nov 24	0.67
Nov 24	0.66
Nov 24	0.68
Nov 24	0.69
Nov 24	0.64
Oct 24	0.65

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AI Analysis

Türk Hava Yollari Anonim Ortakligi

Video analysis: THYAO.IS

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