TAV HAVALIMAN.HLDG ADR/4 (5THA) - Net Assets
Based on the latest financial reports, TAV HAVALIMAN.HLDG ADR/4 (5THA) has net assets worth €1.61 Billion EUR (≈ $1.88 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€5.01 Billion ≈ $5.86 Billion USD) and total liabilities (€3.40 Billion ≈ $3.98 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check 5THA asset liquidity ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €1.61 Billion |
| % of Total Assets | 32.1% |
| Annual Growth Rate | 9.53% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 7.6 |
TAV HAVALIMAN.HLDG ADR/4 - Net Assets Trend (2022–2025)
This chart illustrates how TAV HAVALIMAN.HLDG ADR/4's net assets have evolved over time, based on quarterly financial data. Also explore TAV HAVALIMAN.HLDG ADR/4 (5THA) total assets for the complete picture of this company's asset base.
Annual Net Assets for TAV HAVALIMAN.HLDG ADR/4 (2022–2025)
The table below shows the annual net assets of TAV HAVALIMAN.HLDG ADR/4 from 2022 to 2025. For live valuation and market cap data, see 5THA stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €1.61 Billion ≈ $1.88 Billion |
-0.83% |
| 2024-12-31 | €1.62 Billion ≈ $1.90 Billion |
+13.77% |
| 2023-12-31 | €1.43 Billion ≈ $1.67 Billion |
+16.48% |
| 2022-12-31 | €1.22 Billion ≈ $1.43 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to TAV HAVALIMAN.HLDG ADR/4's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 67.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €1.21 Billion | 76.75% |
| Other Components | €367.98 Million | 23.25% |
| Total Equity | €1.58 Billion | 100.00% |
TAV HAVALIMAN.HLDG ADR/4 Competitors by Market Cap
The table below lists competitors of TAV HAVALIMAN.HLDG ADR/4 ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Enerflex Ltd.
TO:EFX
|
$2.31 Billion |
|
Driven Brands Holdings Inc
NASDAQ:DRVN
|
$2.31 Billion |
|
Xi'an Sinofuse Electric Co. Ltd.
SHE:301031
|
$2.31 Billion |
|
Foxconn Technology Co Ltd
TW:2354
|
$2.31 Billion |
|
Shanghai Awinic Technology Co Ltd
SHG:688798
|
$2.31 Billion |
|
DRDGOLD Limited
F:DUBA
|
$2.31 Billion |
|
Asahi India Glass Limited
NSE:ASAHIINDIA
|
$2.31 Billion |
|
Transportadora de Gas del Sur SA B
BA:TGSU2
|
$2.31 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in TAV HAVALIMAN.HLDG ADR/4's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,607,672,000 to 1,582,443,000, a change of -25,229,000 (-1.6%).
- Net income of 50,659,000 contributed positively to equity growth.
- Dividend payments of 3,314,000 reduced retained earnings.
- Other factors decreased equity by 72,574,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €50.66 Million | +3.2% |
| Dividends Paid | €3.31 Million | -0.21% |
| Other Changes | €-72.57 Million | -4.59% |
| Total Change | €- | -1.57% |
Book Value vs Market Value Analysis
This analysis compares TAV HAVALIMAN.HLDG ADR/4's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 5.19x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 6.82x to 5.19x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2022-12-31 | €3.32 | €22.60 | x |
| 2023-12-31 | €3.88 | €22.60 | x |
| 2024-12-31 | €4.43 | €22.60 | x |
| 2025-12-31 | €4.36 | €22.60 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently TAV HAVALIMAN.HLDG ADR/4 utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 3.20%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 2.78%
- • Asset Turnover: 0.36x
- • Equity Multiplier: 3.17x
- Recent ROE (3.20%) is below the historical average (10.60%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2022 | 10.14% | 11.62% | 0.25x | 3.55x | €1.74 Million |
| 2023 | 17.65% | 19.02% | 0.28x | 3.37x | €108.03 Million |
| 2024 | 11.38% | 11.02% | 0.34x | 3.02x | €22.23 Million |
| 2025 | 3.20% | 2.78% | 0.36x | 3.17x | €-107.59 Million |
Industry Comparison
This section compares TAV HAVALIMAN.HLDG ADR/4's net assets metrics with peer companies in the Airports & Air Services industry.
Industry Context
- Industry: Airports & Air Services
- Average net assets among peers: $41,850,766,570
- Average return on equity (ROE) among peers: 16.86%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TAV HAVALIMAN.HLDG ADR/4 (5THA) | €1.61 Billion | 10.14% | 2.12x | $2.31 Billion |
| AENA SME UNSP.ADR/1/10 (A440) | $6.64 Billion | 13.57% | 1.39x | $37.50 Billion |
| Grupo Aeroportuario del Sureste SAB de CV ADR (AEDA) | $38.77 Billion | 14.10% | 0.48x | $8.75 Billion |
| Beijing Capital International Airport Company Limited (BJ1) | $16.21 Billion | 8.20% | 1.02x | $424.05 Million |
| Fraport AG (FRA) | $1.82 Billion | 6.65% | 0.99x | $6.48 Billion |
| Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (G7A) | $9.84 Billion | 50.94% | 1.57x | $4.42 Billion |
| Grupo Aeroportuario del Pacífico S.A.B. de C.V (G9N) | $22.85 Billion | 8.40% | 1.25x | $10.44 Billion |
| Hainan Meilan International Airport Company Limited (HAO) | $4.57 Billion | 16.76% | 1.44x | $168.46 Million |
| Airports of Thailand Public Company Limited (NYVQ) | $131.69 Billion | 15.71% | 0.35x | $21.71 Billion |
| Airports of Thailand Public Company Limited (TX3A) | $144.27 Billion | 17.45% | 0.30x | $14.39K |
About TAV HAVALIMAN.HLDG ADR/4
TAV Havalimanlari Holding A.S., together with its subsidiaries, constructs terminal buildings, and manages and operates terminals or airports in Turkey, Georgia, Kazakhstan, Macedonia, Tunisia, Croatia, Oman, Latvia, Spain, Qatar, Saudi Arabia, and internationally. It operates through Terminal Operations, Catering Operations, Duty Free Operations, Ground Handling and Bus Operations, and Other seg… Read more