Turkish Airlines (THYAO) - Cash Flow Conversion Efficiency

Latest as of December 2025: 0.050x

Based on the latest financial reports, Turkish Airlines (THYAO) has a cash flow conversion efficiency ratio of 0.050x as of December 2025. Cash flow conversion efficiency measures how effectively a company's net assets (equity) generate operating cash flow. It is calculated by dividing operating cash flow (TL1.07 Billion ≈ $23.88 Million USD) by net assets (TL21.31 Billion ≈ $477.38 Million USD). A higher ratio indicates that the company is more efficient at using its equity to generate cash flow from its core operations. See THYAO equity financing ratio to measure how much of total assets are equity-financed.

Turkish Airlines - Cash Flow Conversion Efficiency Trend (2003–2025)

This chart illustrates how Turkish Airlines's cash flow conversion efficiency has evolved over time, based on yearly financial data. Check THYAO cash to earnings ratio to evaluate the quality of earnings relative to operating cash generation.

Turkish Airlines Competitors by Cash Flow Conversion Efficiency

The table below lists competitors of Turkish Airlines ranked by their cash flow conversion efficiency.

Company	Cash Flow Conversion Efficiency
Zhejiang Zheneng Electric Power Co Ltd SHG:600023	0.073x
Advanced Fiber Resources Zhuhai Ltd SHE:300620	0.075x
Dosilicon Co Ltd SHG:688110	-0.029x
Universal Scientific Industrial Shanghai Co Ltd SHG:601231	0.019x
Jinduicheng Molybdenum Co Ltd SHG:601958	0.073x
Pentair plc F:PNT	-0.018x
AtkinsRealis Group Inc TO:ATRL	0.072x
Mazagon Dock Shipbuilders Limited NSE:MAZDOCK	0.004x

Annual Cash Flow Conversion Efficiency for Turkish Airlines (2003–2025)

The table below shows the annual cash flow conversion efficiency of Turkish Airlines from 2003 to 2025. For the full company profile with market capitalisation and key ratios, see Turkish Airlines (THYAO) total market value.

Year	Net Assets	Operating Cash Flow	Cash Flow Conversion Efficiency	Change
2025-12-31	TL21.31 Billion ≈ $477.38 Million	TL4.30 Billion ≈ $96.35 Million	0.202x	+3474.30%
2024-12-31	TL680.01 Billion ≈ $15.23 Billion	TL3.84 Billion ≈ $86.01 Million	0.006x	-47.44%
2023-12-31	TL457.11 Billion ≈ $10.24 Billion	TL4.91 Billion ≈ $110.00 Million	0.011x	-98.33%
2022-12-31	TL181.43 Billion ≈ $4.06 Billion	TL117.01 Billion ≈ $2.62 Billion	0.645x	-91.07%
2021-12-31	TL6.84 Billion ≈ $153.13 Million	TL49.36 Billion ≈ $1.11 Billion	7.220x	+4991.25%
2020-12-31	TL39.51 Billion ≈ $884.94 Million	TL5.60 Billion ≈ $125.49 Million	0.142x	-92.54%
2019-12-31	TL6.86 Billion ≈ $153.56 Million	TL13.03 Billion ≈ $291.82 Million	1.900x	+16.89%
2018-12-31	TL5.91 Billion ≈ $132.44 Million	TL9.61 Billion ≈ $215.31 Million	1.626x	-4.16%
2017-12-31	TL5.31 Billion ≈ $118.99 Million	TL9.01 Billion ≈ $201.85 Million	1.696x	+343.52%
2016-12-31	TL5.07 Billion ≈ $113.66 Million	TL1.94 Billion ≈ $43.47 Million	0.382x	+33.33%
2015-12-31	TL14.09 Billion ≈ $315.58 Million	TL4.04 Billion ≈ $90.53 Million	0.287x	-0.67%
2014-12-31	TL9.15 Billion ≈ $205.03 Million	TL2.64 Billion ≈ $59.22 Million	0.289x	-29.22%
2013-12-31	TL6.96 Billion ≈ $155.94 Million	TL2.84 Billion ≈ $63.63 Million	0.408x	+8.12%
2012-12-31	TL5.41 Billion ≈ $121.06 Million	TL2.04 Billion ≈ $45.69 Million	0.377x	+9.38%
2011-12-31	TL4.50 Billion ≈ $100.76 Million	TL1.55 Billion ≈ $34.77 Million	0.345x	+50.14%
2010-12-31	TL3.75 Billion ≈ $83.93 Million	TL861.17 Million ≈ $19.29 Million	0.230x	-32.70%
2009-12-31	TL3.44 Billion ≈ $77.16 Million	TL1.18 Billion ≈ $26.35 Million	0.341x	-31.08%
2008-12-31	TL2.99 Billion ≈ $66.89 Million	TL1.48 Billion ≈ $33.14 Million	0.495x	+83.09%
2006-12-31	TL1.61 Billion ≈ $36.05 Million	TL435.57 Million ≈ $9.76 Million	0.271x	-22.51%
2005-12-31	TL1.25 Billion ≈ $27.96 Million	TL435.94 Million ≈ $9.76 Million	0.349x	+20.97%
2004-12-31	TL1.11 Billion ≈ $24.86 Million	TL320.45 Million ≈ $7.18 Million	0.289x	-50.57%
2003-12-31	TL881.11 Trillion ≈ $19.73 Trillion	TL514.56 Trillion ≈ $11.52 Trillion	0.584x	--

About Turkish Airlines

IS:THYAO Turkey Airlines

Market Cap

$10.59 Billion

TL472.75 Billion TRY

Market Cap Rank

#2169 Global

#7 in Turkey

Share Price

TL344.50

Change (1 day)

+1.85%

52-Week Range

TL264.50 - TL348.25

All Time High

TL348.25