Golden Bazaar company screen
TAVHL
TAV Airports
Latest period read
Golden Bazaar2026/3
Income statement18.4B TRYRevenue
Margin read6.0B TRYGross profit
Operating strength1.9B TRYOperating profit
Cash-profit proxy2.5B TRYEBITDA
Debt load91.9B TRYNet debt
Balance-sheet risk102.7B TRYFinancial debt
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GOLDEN BAZAARBIST Company Financial Report
TAVHL
TAV Airports
Total assets246.2B TRY
Equity77.8B TRY
F/KN/AP/E needs market value and positive trailing 12-month net profit.
PD/DDN/AP/B needs market value and latest period equity.
Net profit-2.9B TRY
Company information
Legal nameTAV HAVALİMANLARI HOLDİNG A.Ş.
SectorAirport operations
MarketStar Market / BIST 30
CityIstanbul
Foundation / registry date1997-11-07
IPO dateNot listed in the official record
First trading date23 Feb 2007
Websitehttps://www.tavhavalimanlari.com.tr
Return intelligence
Processed date: 02 Jun 20261M TRY-4.67%
1Y TRY+21.84%
1M USD-19.67%
1Y USD-4.31%
SAME SECTOR COMPARISON
Market date: 19 Jun 2026Same sector peers
Comparison basis: Accounting group / Airport operationsPeer universe: 1With market data: 1
Swipe horizontally to see the full peer table.
Period ratio matrix
Margin, liquidity, and profitability heatmap
Green marks stronger readings; red marks weak or riskier readings. A full historical valuation multiple matrix needs market cap and enterprise value for each period.
| Ratio | 2024/6 | 2024/9 | 2024/12 | 2025/6 | 2025/9 | 2025/12 | 2026/3 |
|---|---|---|---|---|---|---|---|
| Gross profit marginGross profit divided by revenue. | +38.4% | +41.2% | +36.3% | +38.7% | +42.5% | +40.3% | +32.4% |
| EBITDA marginEBITDA divided by revenue. | +29.5% | +33.6% | +30.0% | +29.5% | +34.2% | +31.3% | +13.8% |
| Net profit marginNet period profit divided by revenue. | +12.0% | +16.1% | +11.9% | -5.0% | +7.6% | +4.3% | -15.7% |
| Operating profit marginOperating profit divided by revenue. | +20.0% | +24.0% | +17.5% | +19.1% | +23.6% | +20.4% | +10.1% |
| Current ratioCurrent assets divided by current liabilities. | 0.95 | 1.07 | 1.05 | 0.78 | 0.93 | 0.78 | 0.78 |
| Leverage ratioTotal liabilities divided by total assets. | +68.8% | +67.9% | +66.6% | +68.8% | +67.3% | +67.9% | +68.4% |
| Return on equityNet period profit divided by equity. | +5.6% | +11.4% | +11.8% | -2.4% | +5.7% | +4.4% | -3.7% |
| Return on assetsNet period profit divided by total assets. | +1.7% | +3.7% | +4.0% | -0.7% | +1.9% | +1.4% | -1.2% |
| Debt / equityTotal liabilities divided by equity. | +220.4% | +211.3% | +199.7% | +220.7% | +205.7% | +211.5% | +216.4% |
Balance periods
All Balance Sheets
Current assets, non-current assets, liabilities, and equity are shown together by reporting period.
| Line item | 2026/3 | 2025/12 | 2025/9 | 2025/6 | 2025/3 | 2024/12 | 2024/9 | 2024/6 | 2024/3 |
|---|---|---|---|---|---|---|---|---|---|
| Current assets | 38.2B | 47.0B | 50.1B | 39.5B | 33.9B | 31.3B | 43.5B | 34.7B | 32.7B |
| Non-current assets | 208.0B | 205.1B | 198.2B | 188.9B | 160.6B | 147.4B | 147.6B | 137.4B | 133.6B |
| Total assets | 246.2B | 252.1B | 248.2B | 228.4B | 194.5B | 178.7B | 191.1B | 172.1B | 166.4B |
| Current liabilities | 48.8B | 60.6B | 53.6B | 50.9B | 44.1B | 29.7B | 40.5B | 36.6B | 29.7B |
| Non-current liabilities | 119.6B | 110.6B | 113.5B | 106.3B | 86.8B | 89.3B | 89.2B | 81.7B | 86.0B |
| Total liabilities | 168.4B | 171.2B | 167.0B | 157.2B | 131.0B | 119.0B | 129.7B | 118.4B | 115.6B |
| Equity | 77.8B | 80.9B | 81.2B | 71.2B | 63.5B | 59.6B | 61.4B | 53.7B | 50.7B |
| Net debt | 91.9B | 66.5B | 68.5B | 69.8B | — | 55.0B | — | — | — |
Cash flow periods
Cash Flow Summary
Operating, investing, and financing cash flows are shown by reporting period. Free cash flow is shown when available.
| Line item | 2026/3 | 2025/12 | 2025/9 | 2025/6 | 2025/3 | 2024/12 | 2024/9 | 2024/6 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -5.1B | 15.5B | 10.9B | 2.5B | -550.6M | 11.2B | 10.0B | 4.0B |
| Investing cash flow | -1.1B | -3.5B | -3.0B | -2.0B | -1.4B | -5.9B | -3.0B | -2.7B |
| Financing cash flow | -7.4B | -6.3B | -4.0B | -2.4B | 579.1M | -11.6B | -4.4B | -1.9B |
Income statement
Revenue, margin, operating profit, and net profit trend.
5 lines9 periods shown
| Financial line | 2026/3 | 2025/12 | 2025/9 | 2025/6 | 2025/3 | 2024/12 | 2024/9 | 2024/6 | 2024/3 | Last period change |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 18.4B | 82.2B | 60.9B | 34.0B | 14.4B | 59.2B | 43.4B | 25.1B | 10.8B | -77.61% |
| Cost Of Sales | -12.4B | -49.0B | -35.0B | -20.8B | -9.4B | -37.7B | -25.6B | -15.4B | -6.9B | +74.65% |
| Gross Profit | 6.0B | 33.1B | 25.9B | 13.2B | 5.1B | 21.5B | 17.9B | 9.6B | 3.9B | -81.99% |
| Operating Profit | 1.9B | 16.7B | 14.4B | 6.5B | 2.2B | 10.4B | 10.4B | 5.0B | 1.8B | -88.85% |
| Net Income | -2.9B | 3.5B | 4.6B | -1.7B | -1.7B | 7.1B | 7.0B | 3.0B | 363.8M | -181.60% |
Cash flow
Cash movements from operating, investing, and financing activities.
3 lines8 periods shown
| Financial line | 2026/3 | 2025/12 | 2025/9 | 2025/6 | 2025/3 | 2024/12 | 2024/9 | 2024/6 | Last period change |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -5.1B | 15.5B | 10.9B | 2.5B | -550.6M | 11.2B | 10.0B | 4.0B | -132.64% |
| Financing Cash Flow | -7.4B | -6.3B | -4.0B | -2.4B | 579.1M | -11.6B | -4.4B | -1.9B | -17.09% |
| Investing Cash Flow | -1.1B | -3.5B | -3.0B | -2.0B | -1.4B | -5.9B | -3.0B | -2.7B | +69.30% |
Financial trends
2024/1215.8B TL
2025/314.4B TL
2025/619.5B TL
2025/926.9B TL
2025/1221.3B TL
2026/318.4B TL