Merit Turizm Yatirim ve Isletme AS
Merit Turizm Yatirim ve Isletme Anonim Sirketi, together with its subsidiaries, engages in the hotel management business in Turkey. The company was founded in 1988 and is based in Istanbul, Turkey. Merit Turizm Yatirim ve Isletme Anonim Sirketi operates as a subsidiary of Net Holding A.S. Merit Turizm Yatirim ve Isletme Anonim Sirketi opearates as a subsidiary of Net Holding A.S.
Merit Turizm Yatirim ve Isletme AS (MERIT) - Net Assets
Latest net assets as of September 2025: TL15.68 Billion TRY
Based on the latest financial reports, Merit Turizm Yatirim ve Isletme AS (MERIT) has net assets worth TL15.68 Billion TRY as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (TL15.72 Billion) and total liabilities (TL40.94 Million). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | TL15.68 Billion |
| % of Total Assets | 99.74% |
| Annual Growth Rate | 83.49% |
| 5-Year Change | 20744.68% |
| 10-Year Change | 95200.73% |
| Growth Volatility | 482.69 |
Merit Turizm Yatirim ve Isletme AS - Net Assets Trend (2011–2024)
This chart illustrates how Merit Turizm Yatirim ve Isletme AS's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Merit Turizm Yatirim ve Isletme AS (2011–2024)
The table below shows the annual net assets of Merit Turizm Yatirim ve Isletme AS from 2011 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | TL9.78 Billion | +63.57% |
| 2023-12-31 | TL5.98 Billion | +288.23% |
| 2022-12-31 | TL1.54 Billion | +68.08% |
| 2021-12-31 | TL916.53 Million | +1852.95% |
| 2020-12-31 | TL46.93 Million | +2.29% |
| 2019-12-31 | TL45.88 Million | +13.50% |
| 2018-12-31 | TL40.42 Million | +144.57% |
| 2017-12-31 | TL16.53 Million | +30.62% |
| 2016-12-31 | TL12.65 Million | +23.28% |
| 2015-12-31 | TL10.26 Million | +21.59% |
| 2014-12-31 | TL8.44 Million | +31.07% |
| 2013-12-31 | TL6.44 Million | +64.61% |
| 2012-12-31 | TL3.91 Million | +7.03% |
| 2011-12-31 | TL3.66 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Merit Turizm Yatirim ve Isletme 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 35746862500.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | TL357.47 Million | 3.65% |
| Other Components | TL9.43 Billion | 96.35% |
| Total Equity | TL9.78 Billion | 100.00% |
Merit Turizm Yatirim ve Isletme AS Competitors by Market Cap
The table below lists competitors of Merit Turizm Yatirim ve Isletme AS ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Deoleo S.A
PINK:SOSCF
|
$47.35 Million |
|
Frontier Digital Ventures Ltd
AU:FDV
|
$47.35 Million |
|
Cayson Acquisition Corp
NASDAQ:CAPNU
|
$47.36 Million |
|
Citizens Holding Company
NASDAQ:CIZN
|
$47.36 Million |
|
Tung Ho Textile Co Ltd
TW:1414
|
$47.32 Million |
|
Kabe Group AB Series B
LSE:0L9Z
|
$47.31 Million |
|
GDB Holdings Bhd
KLSE:0198
|
$47.31 Million |
|
Mawson Finland LImited
V:MFL
|
$47.29 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Merit Turizm Yatirim ve Isletme AS's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 5,980,588,016 to 9,782,533,890, a change of 3,801,945,874 (63.6%).
- Net income of 357,468,625 contributed positively to equity growth.
- Other factors increased equity by 3,444,477,249.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | TL357.47 Million | +3.65% |
| Other Changes | TL3.44 Billion | +35.21% |
| Total Change | TL- | 63.57% |
Book Value vs Market Value Analysis
This analysis compares Merit Turizm Yatirim ve Isletme 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: 0.57x
- 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 2.55x to 0.57x 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 | TL6.48 | TL16.55 | x |
| 2018-12-31 | TL15.85 | TL16.55 | x |
| 2019-12-31 | TL17.99 | TL16.55 | x |
| 2020-12-31 | TL18.40 | TL16.55 | x |
| 2021-12-31 | TL32.67 | TL16.55 | x |
| 2022-12-31 | TL54.92 | TL16.55 | x |
| 2023-12-31 | TL17.77 | TL16.55 | x |
| 2024-12-31 | TL29.06 | TL16.55 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Merit Turizm Yatirim ve Isletme 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): 3.65%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 237.51%
- • Asset Turnover: 0.02x
- • Equity Multiplier: 1.00x
- Recent ROE (3.65%) is below the historical average (13.11%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2011 | 6.59% | 23.15% | 0.26x | 1.08x | TL-124.70K |
| 2012 | 6.57% | 21.07% | 0.29x | 1.09x | TL-134.40K |
| 2013 | 39.33% | 46.92% | 0.72x | 1.17x | TL1.89 Million |
| 2014 | 23.70% | 37.62% | 0.57x | 1.11x | TL1.16 Million |
| 2015 | 17.99% | 31.43% | 0.52x | 1.09x | TL820.20K |
| 2016 | 18.59% | 28.19% | 0.60x | 1.09x | TL1.09 Million |
| 2017 | 23.54% | 36.39% | 0.57x | 1.13x | TL2.24 Million |
| 2018 | 18.93% | 76.79% | 0.21x | 1.17x | TL3.61 Million |
| 2019 | 15.71% | 50.30% | 0.28x | 1.11x | TL2.62 Million |
| 2020 | 5.20% | 50.62% | 0.10x | 1.07x | TL-2.25 Million |
| 2021 | 0.43% | 34.29% | 0.01x | 1.04x | TL-87.75 Million |
| 2022 | 1.30% | 33.88% | 0.04x | 1.05x | TL-133.94 Million |
| 2023 | 2.03% | 81.43% | 0.02x | 1.06x | TL-476.40 Million |
| 2024 | 3.65% | 237.51% | 0.02x | 1.00x | TL-620.78 Million |
Industry Comparison
This section compares Merit Turizm Yatirim ve Isletme AS's net assets metrics with peer companies in the Resorts & Casinos industry.
Industry Context
- Industry: Resorts & Casinos
- Average net assets among peers: $59,746,000
- Average return on equity (ROE) among peers: 6.35%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Merit Turizm Yatirim ve Isletme AS (MERIT) | TL15.68 Billion | 6.59% | 0.00x | $47.34 Million |
| Altin Yunus Cesme Turistik Tesisler AS (AYCES) | $97.83 Million | 0.00% | 0.23x | $12.36 Million |
| Petrokent Turizm AS (PKENT) | $21.66 Million | 12.69% | 0.85x | $3.56 Billion |