Ihlas Holding AS (IHLAS) - Net Assets

Latest as of September 2025: TL12.71 Billion TRY ≈ $284.76 Million USD

Based on the latest financial reports, Ihlas Holding AS (IHLAS) has net assets worth TL12.71 Billion TRY (≈ $284.76 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (TL31.51 Billion ≈ $705.85 Million USD) and total liabilities (TL18.80 Billion ≈ $421.10 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. Check Ihlas Holding AS liquid asset ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	TL12.71 Billion
% of Total Assets	40.34%
Annual Growth Rate	-28.99%
5-Year Change	520.0%
10-Year Change	1485.92%
Growth Volatility	61.55

Ihlas Holding AS - Net Assets Trend (2000–2024)

This chart illustrates how Ihlas Holding AS's net assets have evolved over time, based on quarterly financial data. Also explore Ihlas Holding AS asset portfolio for the complete picture of this company's asset base.

Annual Net Assets for Ihlas Holding AS (2000–2024)

The table below shows the annual net assets of Ihlas Holding AS from 2000 to 2024. For live valuation and market cap data, see Ihlas Holding AS (IHLAS) market capitalisation.

Year	Net Assets	Change
2024-12-31	TL11.75 Billion ≈ $263.11 Million	-13.38%
2023-12-31	TL13.56 Billion ≈ $303.77 Million	+158.00%
2022-12-31	TL5.26 Billion ≈ $117.74 Million	+47.23%
2021-12-31	TL3.57 Billion ≈ $79.97 Million	+88.43%
2020-12-31	TL1.89 Billion ≈ $42.44 Million	+52.52%
2019-12-31	TL1.24 Billion ≈ $27.82 Million	+52.69%
2018-12-31	TL813.61 Million ≈ $18.22 Million	-1.78%
2017-12-31	TL828.32 Million ≈ $18.55 Million	+5.06%
2016-12-31	TL788.46 Million ≈ $17.66 Million	+6.44%
2015-12-31	TL740.74 Million ≈ $16.59 Million	-6.40%
2014-12-31	TL791.36 Million ≈ $17.72 Million	-3.66%
2013-12-31	TL821.39 Million ≈ $18.40 Million	-23.24%
2012-12-31	TL1.07 Billion ≈ $23.97 Million	-4.11%
2011-12-31	TL1.12 Billion ≈ $25.00 Million	+35.72%
2010-12-31	TL822.26 Million ≈ $18.42 Million	+32.41%
2009-12-31	TL621.00 Million ≈ $13.91 Million	+39.62%
2008-12-31	TL444.78 Million ≈ $9.96 Million	-10.70%
2007-12-31	TL498.09 Million ≈ $11.16 Million	+4.08%
2006-12-31	TL478.58 Million ≈ $10.72 Million	-6.43%
2005-12-31	TL511.45 Million ≈ $11.46 Million	+11.33%
2004-12-31	TL459.41 Million ≈ $10.29 Million	-100.00%
2003-12-31	TL217.70 Trillion ≈ $4.88 Trillion	+148.75%
2002-12-31	TL87.52 Trillion ≈ $1.96 Trillion	+175.14%
2001-12-31	TL31.81 Trillion ≈ $712.40 Billion	-26.79%
2000-12-31	TL43.45 Trillion ≈ $973.11 Billion	--

Equity Component Analysis

This analysis shows how different components contribute to Ihlas Holding 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 decreased by 2013245672200.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Other Components	TL24.77 Billion	534.19%
Total Equity	TL4.64 Billion	100.00%

Ihlas Holding AS Competitors by Market Cap

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

Company	Market Cap
Ittifak Holding A.S. IS:LRSHO	$68.81 Million
Critical Elements Corporation V:CRE	$68.82 Million
Vizsla Copper Corp V:VCU	$68.86 Million
Crown Seal Public Company Limited BK:CSC	$68.88 Million
Hwacheon Machi KO:010660	$68.73 Million
Lu Hai Holding Corp TW:2115	$68.73 Million
Sempio Foods KO:007540	$68.70 Million
Microcosm Technology Co Ltd TWO:3354	$68.70 Million

Equity Growth Attribution

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

Equity Growth Insights

From 2023 to 2024, total equity changed from 5,945,627,402 to 4,636,837,389, a change of -1,308,790,013 (-22.0%).
Net loss of 1,381,813,379 reduced equity.
Other factors increased equity by 73,023,366.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	TL-1.38 Billion	-29.8%
Other Changes	TL73.02 Million	+1.57%
Total Change	TL-	-22.01%

Book Value vs Market Value Analysis

This analysis compares Ihlas Holding 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: 0.66x
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 3.58x to 0.66x 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	TL0.63	TL2.25	x
2018-12-31	TL0.60	TL2.25	x
2019-12-31	TL0.52	TL2.25	x
2020-12-31	TL0.61	TL2.25	x
2021-12-31	TL1.03	TL2.25	x
2022-12-31	TL1.98	TL2.25	x
2023-12-31	TL4.36	TL2.25	x
2024-12-31	TL3.40	TL2.25	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Ihlas Holding 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): -29.80%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: -13.36%
• Asset Turnover: 0.44x
• Equity Multiplier: 5.04x
Recent ROE (-29.80%) is below the historical average (3.06%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2003	2.12%	1.21%	0.40x	4.35x	TL-14.50 Trillion
2005	2.75%	2.04%	0.68x	1.98x	TL-33.75 Million
2009	16.83%	14.11%	0.49x	2.42x	TL31.53 Million
2010	6.79%	5.32%	0.47x	2.70x	TL-16.94 Million
2014	-17.46%	-10.49%	0.32x	5.26x	TL-138.99 Million
2015	-18.66%	-20.40%	0.15x	6.27x	TL-128.30 Million
2016	12.54%	5.83%	0.44x	4.94x	TL12.77 Million
2017	7.78%	6.00%	0.26x	4.93x	TL-12.18 Million
2018	-7.42%	-3.03%	0.51x	4.76x	TL-90.59 Million
2019	-3.43%	-2.17%	0.23x	6.72x	TL-60.91 Million
2020	-0.74%	-0.36%	0.29x	7.15x	TL-57.23 Million
2021	13.47%	7.40%	0.50x	3.61x	TL53.72 Million
2022	23.55%	18.76%	0.40x	3.15x	TL366.51 Million
2023	37.52%	20.42%	0.45x	4.11x	TL1.64 Billion
2024	-29.80%	-13.36%	0.44x	5.04x	TL-1.85 Billion

Industry Comparison

This section compares Ihlas Holding AS's net assets metrics with peer companies in the Conglomerates industry.

Industry Context

Industry: Conglomerates
Average net assets among peers: $13,308,721,145
Average return on equity (ROE) among peers: 12.79%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Ihlas Holding AS (IHLAS)	TL12.71 Billion	2.12%	1.48x	$68.79 Million
AG Anadolu Group Holding (AGHOL)	$60.69 Billion	6.26%	2.00x	$1.86 Billion
AGROT (AGROT)	$4.98 Billion	5.13%	0.28x	$82.51 Million
Alarko Holding AS (ALARK)	$43.95 Billion	21.77%	0.35x	$976.15 Million
Bera Holding AS (BERA)	$2.63 Billion	13.39%	0.71x	$275.43 Million
Berkosan Yalitim ve Tecrit Maddeleri Uretim ve Ticaret AS (BRKSN)	$46.67 Million	33.71%	1.91x	$19.27 Million
Dogan Sirketler Grubu Holding AS (DOHOL)	$4.96 Billion	7.96%	0.83x	$1.42 Billion
Eczacibasi Yatirim Holding Ortakligi AS (ECZYT)	$2.11 Billion	4.77%	0.02x	$870.14 Million
Federal Mogul Izmit Piston ve Pim Uretim Tesisleri AS (FMIZP)	$22.37 Million	0.00%	0.07x	$95.77 Million
Global Yatirim Holding AS (GLYHO)	$386.44 Million	22.12%	1.12x	$681.77 Million

About Ihlas Holding AS

IS:IHLAS Turkey Conglomerates

Market Cap

$68.79 Million

TL3.07 Billion TRY

Market Cap Rank

#20641 Global

#339 in Turkey

Share Price

TL2.25

Change (1 day)

+1.81%

52-Week Range

TL1.89 - TL4.41

All Time High

TL4.41