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. View THYAO stock price and chart for real-time trading data and today's change.

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. Also see market cap of Turkish Airlines for the company's overall valuation and market capitalisation.

Turkish Airlines Competitors by Cash Flow Conversion Efficiency

The table below lists competitors of Turkish Airlines ranked by their cash flow conversion efficiency. Also see Turkish Airlines assets under control for a full breakdown of the balance sheet.

Company	Cash Flow Conversion Efficiency
Freedom Holding Corp NASDAQ:FRHC	-0.993x
Skechers USA Inc NYSE:SKX	0.103x
LandMark Optoelectronics TWO:3081	0.067x
Godaddy Inc NYSE:GDDY	1.987x
Eldorado Gold Corp TO:ELD	0.032x
AvalonBay Communities Inc NYSE:AVB	0.036x
Addtech AB (publ.) ST:ADDT-B	0.106x
Chandra Asri Petrochemical Tbk JK:TPIA	0.058x

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. Review financial flexibility index of Turkish Airlines to assess the company's free cash flow relative to its total liabilities.

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

$9.48 Billion

TL423.35 Billion TRY

Market Cap Rank

#2350 Global

#8 in Turkey

Share Price

TL308.50

Change (1 day)

+1.98%

52-Week Range

TL264.50 - TL348.25

All Time High

TL348.25