Turkish Airlines (THYAO) — Cash Flow Reinvestment Rate
Turkish Airlines (THYAO) has a Cash Flow Reinvestment Rate of 2.02x as of December 2025, reinvesting TL2.15 Billion (capex TL660.00 Million plus investments TL-1.49 Billion) from operating cash flow of TL1.07 Billion. See THYAO free cash flow generation to measure how efficiently the company converts operating cash flow to free cash.
Reinvestment Rate
Total Reinvested
Operating Cash Flow
Capital Expenditures
Turkish Airlines Cash Flow Reinvestment Rate (2003–2025)
Historical reinvestment intensity for Turkish Airlines across 22 annual periods. For the full cash flow conversion analysis, see THYAO cash generation efficiency.
Annual Cash Flow Reinvestment Rate for Turkish Airlines (2003–2025)
Year-by-year capital reinvestment analysis for Turkish Airlines. See THYAO financial flexibility index to measure the company's free cash flow as a share of total liabilities.
| Year | Reinvestment Rate | Total Reinvested (TRY) | Operating CF | Capex | YoY Change |
|---|---|---|---|---|---|
| 2025 | 1.05x | TL4.51 Billion | TL4.30 Billion | TL2.02 Billion | ▲ +61.5% |
| 2024 | 0.65x | TL2.49 Billion | TL3.84 Billion | TL1.28 Billion | ▼ -39.7% |
| 2023 | 1.08x | TL5.28 Billion | TL4.91 Billion | TL866.58 Million | ▲ +346.4% |
| 2022 | 0.24x | TL28.19 Billion | TL117.01 Billion | TL16.64 Billion | ▲ +57.7% |
| 2021 | 0.15x | TL7.54 Billion | TL49.36 Billion | TL7.54 Billion | ▼ -92.0% |
| 2020 | 1.90x | TL10.66 Billion | TL5.60 Billion | TL8.00 Billion | ▲ +290.4% |
| 2019 | 0.49x | TL6.35 Billion | TL13.03 Billion | TL5.75 Billion | ▼ -35.2% |
| 2018 | 0.75x | TL7.23 Billion | TL9.61 Billion | TL5.40 Billion | ▲ +90.7% |
| 2017 | 0.39x | TL3.55 Billion | TL9.01 Billion | TL3.02 Billion | ▼ -21.7% |
| 2016 | 0.50x | TL977.05 Million | TL1.94 Billion | TL751.64 Million | ▼ -33.4% |
| 2015 | 0.76x | TL3.05 Billion | TL4.04 Billion | TL2.01 Billion | ▲ +31.7% |
| 2014 | 0.57x | TL1.52 Billion | TL2.64 Billion | TL1.36 Billion | ▼ -26.6% |
| 2013 | 0.78x | TL2.22 Billion | TL2.84 Billion | TL2.22 Billion | ▲ +18.2% |
| 2012 | 0.66x | TL1.35 Billion | TL2.04 Billion | TL1.35 Billion | ▼ -4.6% |
| 2011 | 0.69x | TL1.08 Billion | TL1.55 Billion | TL1.08 Billion | ▼ -42.9% |
| 2010 | 1.21x | TL1.04 Billion | TL861.17 Million | TL1.04 Billion | ▼ -8.5% |
| 2009 | 1.33x | TL1.56 Billion | TL1.18 Billion | TL1.56 Billion | ▲ +751.9% |
| 2008 | 0.16x | TL230.33 Million | TL1.48 Billion | TL230.33 Million | ▼ -93.7% |
| 2006 | 2.47x | TL1.08 Billion | TL435.57 Million | TL1.08 Billion | ▲ +127.6% |
| 2005 | 1.09x | TL473.12 Million | TL435.94 Million | TL473.12 Million | ▲ +193.3% |
| 2004 | 0.37x | TL118.56 Million | TL320.45 Million | TL118.56 Million | ▲ +202.5% |
| 2003 | 0.12x | TL62.94 Trillion | TL514.56 Trillion | TL62.94 Trillion | — |