Turkish Airlines (THYAO) — Cash Flow-to-Debt Ratio
Turkish Airlines (THYAO) has a Cash Flow-to-Debt Ratio of 0.04x as of December 2025, meaning its operating cash flow of TL1.07 Billion could theoretically repay 0% of its total liabilities (TL25.29 Billion) in one year. See THYAO free cash flow generation to measure how efficiently the company converts operating cash flow to free cash.
CF-to-Debt Ratio
Operating Cash Flow
Total Liabilities
Data as of
Turkish Airlines Cash Flow-to-Debt Ratio (2003–2025)
Historical debt coverage capacity for Turkish Airlines across 22 annual periods. Also explore net asset growth rate of Turkish Airlines to track the company's year-over-year net asset growth rate.
Annual Cash Flow-to-Debt Ratio for Turkish Airlines (2003–2025)
Year-by-year debt coverage analysis for Turkish Airlines. For market capitalisation and broader financial context, see Turkish Airlines (THYAO) market capitalisation.
| Year | CF-to-Debt Ratio | Operating CF (TRY) | Total Liabilities | YoY Change |
|---|---|---|---|---|
| 2025 | 0.17x | TL4.30 Billion | TL25.29 Billion | ▲ +3087.8% |
| 2024 | 0.01x | TL3.84 Billion | TL719.59 Billion | ▼ -35.6% |
| 2023 | 0.01x | TL4.91 Billion | TL592.98 Billion | ▼ -97.2% |
| 2022 | 0.29x | TL117.01 Billion | TL397.14 Billion | ▼ -88.2% |
| 2021 | 2.51x | TL49.36 Billion | TL19.70 Billion | ▲ +6513.7% |
| 2020 | 0.04x | TL5.60 Billion | TL147.89 Billion | ▼ -94.8% |
| 2019 | 0.73x | TL13.03 Billion | TL17.83 Billion | ▲ +11.8% |
| 2018 | 0.65x | TL9.61 Billion | TL14.70 Billion | ▼ -7.4% |
| 2017 | 0.71x | TL9.01 Billion | TL12.77 Billion | ▲ +386.4% |
| 2016 | 0.15x | TL1.94 Billion | TL13.38 Billion | ▲ +20.4% |
| 2015 | 0.12x | TL4.04 Billion | TL33.55 Billion | ▲ +3.5% |
| 2014 | 0.12x | TL2.64 Billion | TL22.72 Billion | ▼ -24.5% |
| 2013 | 0.15x | TL2.84 Billion | TL18.44 Billion | ▲ +1.0% |
| 2012 | 0.15x | TL2.04 Billion | TL13.38 Billion | ▲ +17.0% |
| 2011 | 0.13x | TL1.55 Billion | TL11.91 Billion | ▲ +4.5% |
| 2010 | 0.12x | TL861.17 Million | TL6.90 Billion | ▼ -45.6% |
| 2009 | 0.23x | TL1.18 Billion | TL5.13 Billion | ▼ -24.3% |
| 2008 | 0.30x | TL1.48 Billion | TL4.89 Billion | ▲ +107.9% |
| 2006 | 0.15x | TL435.57 Million | TL2.99 Billion | ▼ -24.2% |
| 2005 | 0.19x | TL435.94 Million | TL2.27 Billion | ▲ +10.3% |
| 2004 | 0.17x | TL320.45 Million | TL1.84 Billion | ▼ -30.0% |
| 2003 | 0.25x | TL514.56 Trillion | TL2065.74 Trillion | — |