Aygaz AS Net Assets

Latest as of December 2025: TL69.58 Billion TRY ≈ $1.56 Billion USD

Aygaz AS net assets. Based on the latest financial reports, Aygaz AS (AYGAZ) has net assets worth TL69.58 Billion TRY (≈ $1.56 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 (TL82.24 Billion ≈ $1.84 Billion USD) and total liabilities (TL12.66 Billion ≈ $283.50 Million 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. Also explore Aygaz AS (AYGAZ) equity growth momentum to track the company's year-over-year net asset growth rate.

Key Net Assets Metrics

Metric	Value
Current Net Assets	TL69.58 Billion
% of Total Assets	84.61%
Annual Growth Rate	-24.65%
5-Year Change	2458.78%
10-Year Change	2437.91%
Growth Volatility	95.6

Net Assets of Aygaz AS (2000–2025)

Net assets of Aygaz AS from 2000 to 2025. This chart illustrates how Aygaz AS's net assets have evolved over time, based on quarterly financial data. See AYGAZ equity financing ratio to measure how much of total assets are equity-financed.

Annual Net Assets for Aygaz AS (2000–2025)

The table below shows the annual net assets of Aygaz AS from 2000 to 2025. For live market cap and overall valuation, see Aygaz AS stock valuation.

Year	Net Assets	Change
2025-12-31	TL69.58 Billion ≈ $1.56 Billion	+33.11%
2024-12-31	TL52.27 Billion ≈ $1.17 Billion	+43.12%
2023-12-31	TL36.52 Billion ≈ $818.03 Million	+365.00%
2022-12-31	TL7.85 Billion ≈ $175.92 Million	+188.85%
2021-12-31	TL2.72 Billion ≈ $60.90 Million	+17.34%
2020-12-31	TL2.32 Billion ≈ $51.90 Million	-6.48%
2019-12-31	TL2.48 Billion ≈ $55.50 Million	-0.97%
2018-12-31	TL2.50 Billion ≈ $56.05 Million	-14.39%
2017-12-31	TL2.92 Billion ≈ $65.47 Million	+6.62%
2016-12-31	TL2.74 Billion ≈ $61.40 Million	+5.01%
2015-12-31	TL2.61 Billion ≈ $58.48 Million	+10.67%
2014-12-31	TL2.36 Billion ≈ $52.84 Million	+5.15%
2013-12-31	TL2.24 Billion ≈ $50.25 Million	-5.75%
2012-12-31	TL2.38 Billion ≈ $53.32 Million	+10.48%
2011-12-31	TL2.15 Billion ≈ $48.26 Million	+6.99%
2010-12-31	TL2.01 Billion ≈ $45.11 Million	+14.60%
2009-12-31	TL1.76 Billion ≈ $39.36 Million	+19.24%
2008-12-31	TL1.47 Billion ≈ $33.01 Million	-1.66%
2007-12-31	TL1.50 Billion ≈ $33.56 Million	+11.96%
2006-12-31	TL1.34 Billion ≈ $29.98 Million	+40.23%
2005-12-31	TL954.49 Million ≈ $21.38 Million	+15.69%
2004-12-31	TL825.00 Million ≈ $18.48 Million	-100.00%
2003-12-31	TL695.16 Trillion ≈ $15.57 Trillion	+24.21%
2002-12-31	TL559.68 Trillion ≈ $12.54 Trillion	+284.06%
2001-12-31	TL145.73 Trillion ≈ $3.26 Trillion	+76.98%
2000-12-31	TL82.34 Trillion ≈ $1.84 Trillion	--

Equity Component Analysis

This analysis shows how different components contribute to Aygaz AS'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 5549337500000.0% over the analyzed period, indicating profitable operations and earnings retention.

Aygaz AS Net Assets Breakdown (December 2025)

Aygaz AS net assets breakdown by equity component as of December 2025.

Component	Amount	Percentage
Retained Earnings	TL55.49 Billion	79.76%
Other Components	TL14.08 Billion	20.24%
Total Equity	TL69.58 Billion	100.00%

Aygaz AS Competitors by Market Cap

The table below lists competitors of Aygaz AS ranked by their market capitalization.

Company	Market Cap
Beijing Lanxum Tech Co SHE:300010	$1.32 Billion
Tangshan Jidong Cement Co Ltd SHE:000401	$1.32 Billion
Hwa Create Corp Ltd SHE:300045	$1.32 Billion
Perpetual Limited F:PVQ	$1.32 Billion
SKAN Group AG SW:SKAN	$1.32 Billion
TXC Corp TW:3042	$1.32 Billion
Faraday Technology Corp TW:3035	$1.32 Billion
CTCI Corp TW:9933	$1.32 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Aygaz AS's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 52,272,628,000 to 69,578,349,000, a change of 17,305,721,000 (33.1%).
Net income of 4,996,552,000 contributed positively to equity growth.
Dividend payments of 3,279,417,000 reduced retained earnings.
Other factors increased equity by 15,588,586,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	TL5.00 Billion	+7.18%
Dividends Paid	TL3.28 Billion	-4.71%
Other Changes	TL15.59 Billion	+22.4%
Total Change	TL-	33.11%

Book Value vs Market Value Analysis

This analysis compares Aygaz AS'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: 0.85x
The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
The price-to-book ratio has decreased from 27.48x to 0.85x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2017-12-31	TL9.74	TL267.75	x
2018-12-31	TL8.34	TL267.75	x
2019-12-31	TL8.26	TL267.75	x
2020-12-31	TL7.72	TL267.75	x
2021-12-31	TL8.99	TL267.75	x
2022-12-31	TL35.16	TL267.75	x
2023-12-31	TL164.56	TL267.75	x
2024-12-31	TL237.82	TL267.75	x
2025-12-31	TL316.55	TL267.75	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Aygaz AS 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): 7.18%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 5.57%
• Asset Turnover: 1.09x
• Equity Multiplier: 1.18x
Recent ROE (7.18%) is below the historical average (15.99%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2000	28.62%	6.99%	2.00x	2.04x	TL15.33 Trillion
2001	17.98%	3.14%	3.54x	1.62x	TL11.63 Trillion
2002	8.52%	2.89%	1.47x	2.01x	TL-8.15 Trillion
2003	17.87%	4.17%	2.70x	1.59x	TL53.09 Trillion
2004	7.65%	1.62%	2.86x	1.65x	TL-18.75 Million
2005	9.75%	2.16%	2.63x	1.72x	TL-2.33 Million
2006	27.35%	13.76%	1.08x	1.84x	TL226.49 Million
2007	25.33%	11.26%	1.39x	1.62x	TL217.34 Million
2008	1.19%	0.46%	1.45x	1.76x	TL-123.40 Million
2009	18.36%	8.31%	1.45x	1.52x	TL143.25 Million
2010	12.11%	5.14%	1.66x	1.42x	TL41.66 Million
2011	17.63%	6.96%	2.01x	1.26x	TL164.28 Million
2012	12.75%	5.43%	1.89x	1.24x	TL65.49 Million
2013	9.15%	3.42%	1.88x	1.42x	TL-19.04 Million
2014	9.24%	3.09%	2.07x	1.45x	TL-17.89 Million
2015	16.03%	6.52%	1.64x	1.50x	TL157.36 Million
2016	15.17%	6.16%	1.56x	1.57x	TL141.62 Million
2017	19.74%	6.81%	1.71x	1.70x	TL284.71 Million
2018	9.13%	2.39%	1.91x	2.00x	TL-21.86 Million
2019	11.04%	2.68%	2.06x	2.00x	TL25.67 Million
2020	-1.07%	-0.25%	1.88x	2.33x	TL-256.63 Million
2021	24.84%	4.22%	1.91x	3.09x	TL400.33 Million
2022	61.25%	12.62%	2.25x	2.15x	TL3.96 Billion
2023	23.77%	9.18%	2.03x	1.28x	TL4.98 Billion
2024	5.32%	2.60%	1.73x	1.18x	TL-2.45 Billion
2025	7.18%	5.57%	1.09x	1.18x	TL-1.96 Billion

Industry Comparison

This section compares Aygaz AS's net assets metrics with peer companies in the Utilities - Regulated Gas industry.

Industry Context

Industry: Utilities - Regulated Gas
Average net assets among peers: $38,738,004,682
Average return on equity (ROE) among peers: 17.05%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Aygaz AS (AYGAZ)	TL69.58 Billion	28.62%	0.18x	$1.32 Billion
Ahlatci Dogal Gaz Dagitim Enerji ve Yatirim A.S. (AHGAZ)	$75.11 Billion	3.85%	1.85x	$2.66 Billion
Baskent Dogalgaz Dagitim Gayrimenkul Yatirim Ortakligi AS (BASGZ)	$2.37 Billion	30.25%	2.00x	$540.58 Million

About Aygaz AS

IS:AYGAZ Turkey Utilities - Regulated Gas

Market Cap

$1.32 Billion

TL58.85 Billion TRY

Market Cap Rank

#7490 Global

#47 in Turkey

Share Price

TL267.75

Change (1 day)

+3.98%

52-Week Range

TL196.90 - TL337.00

All Time High

TL337.00