Panora Gayrimenkul Yatirim Ortakligi AS (PAGYO) - Net Assets
Based on the latest financial reports, Panora Gayrimenkul Yatirim Ortakligi AS (PAGYO) has net assets worth TL13.55 Billion TRY (≈ $303.49 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 (TL15.01 Billion ≈ $336.13 Million USD) and total liabilities (TL1.46 Billion ≈ $32.64 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 PAGYO intangible-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | TL13.55 Billion |
| % of Total Assets | 90.29% |
| Annual Growth Rate | 38.33% |
| 5-Year Change | 1055.89% |
| 10-Year Change | 1307.42% |
| Growth Volatility | 84.44 |
Panora Gayrimenkul Yatirim Ortakligi AS - Net Assets Trend (2010–2024)
This chart illustrates how Panora Gayrimenkul Yatirim Ortakligi AS's net assets have evolved over time, based on quarterly financial data. See Panora Gayrimenkul Yatirim Ortakligi AS defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Panora Gayrimenkul Yatirim Ortakligi AS (2010–2024)
The table below shows the annual net assets of Panora Gayrimenkul Yatirim Ortakligi AS from 2010 to 2024. For live valuation and market cap data, see PAGYO stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | TL10.78 Billion ≈ $241.48 Million |
+45.68% |
| 2023-12-31 | TL7.40 Billion ≈ $165.76 Million |
+149.84% |
| 2022-12-31 | TL2.96 Billion ≈ $66.35 Million |
+155.31% |
| 2021-12-31 | TL1.16 Billion ≈ $25.99 Million |
+24.39% |
| 2020-12-31 | TL932.77 Million ≈ $20.89 Million |
-2.79% |
| 2019-12-31 | TL959.54 Million ≈ $21.49 Million |
+1.34% |
| 2018-12-31 | TL946.82 Million ≈ $21.21 Million |
+2.58% |
| 2017-12-31 | TL923.01 Million ≈ $20.67 Million |
+20.01% |
| 2016-12-31 | TL769.11 Million ≈ $17.23 Million |
+0.40% |
| 2015-12-31 | TL766.06 Million ≈ $17.16 Million |
+8.16% |
| 2014-12-31 | TL708.29 Million ≈ $15.86 Million |
+8.09% |
| 2013-12-31 | TL655.27 Million ≈ $14.68 Million |
+28.97% |
| 2012-12-31 | TL508.08 Million ≈ $11.38 Million |
+299.08% |
| 2011-12-31 | TL127.31 Million ≈ $2.85 Million |
+11.02% |
| 2010-12-31 | TL114.68 Million ≈ $2.57 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Panora Gayrimenkul Yatirim Ortakligi 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 29955.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | TL8.34 Billion | 77.35% |
| Other Components | TL2.44 Billion | 22.65% |
| Total Equity | TL10.78 Billion | 100.00% |
Panora Gayrimenkul Yatirim Ortakligi AS Competitors by Market Cap
The table below lists competitors of Panora Gayrimenkul Yatirim Ortakligi AS ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Huaiji Dengyun Auto-parts Holding Co Ltd
SHE:002715
|
$267.16 Million |
|
Guiyang Xintian Pharmaceutical Co Ltd
SHE:002873
|
$267.19 Million |
|
Eaton Vance National Municipal Opportunities Closed Fund
NYSE:EOT
|
$267.34 Million |
|
Oyster Enterprises II Acquisition Corp Class A Ordinary Shares
NASDAQ:OYSE
|
$267.36 Million |
|
Koramco Energy Plus Reit Co Ltd
KO:357120
|
$267.15 Million |
|
Teixeira Duarte
LS:TDSA
|
$267.12 Million |
|
QST International
TWO:8349
|
$267.11 Million |
|
Karsan Otomotiv Sanayi ve Ticaret AS
IS:KARSN
|
$267.09 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Panora Gayrimenkul Yatirim Ortakligi AS's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 7,400,914,435 to 10,781,766,168, a change of 3,380,851,733 (45.7%).
- Net income of 820,699,368 contributed positively to equity growth.
- Dividend payments of 279,387,077 reduced retained earnings.
- Other factors increased equity by 2,839,539,442.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | TL820.70 Million | +7.61% |
| Dividends Paid | TL279.39 Million | -2.59% |
| Other Changes | TL2.84 Billion | +26.34% |
| Total Change | TL- | 45.68% |
Book Value vs Market Value Analysis
This analysis compares Panora Gayrimenkul Yatirim Ortakligi 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: 1.11x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 12.92x to 1.11x 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 | TL10.61 | TL137.10 | x |
| 2018-12-31 | TL10.88 | TL137.10 | x |
| 2019-12-31 | TL11.03 | TL137.10 | x |
| 2020-12-31 | TL10.72 | TL137.10 | x |
| 2021-12-31 | TL13.34 | TL137.10 | x |
| 2022-12-31 | TL34.05 | TL137.10 | x |
| 2023-12-31 | TL85.07 | TL137.10 | x |
| 2024-12-31 | TL123.93 | TL137.10 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Panora Gayrimenkul Yatirim Ortakligi 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): 7.61%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 108.25%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 1.10x
- Recent ROE (7.61%) is below the historical average (17.33%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2012 | 4.75% | 48.51% | 0.08x | 1.20x | TL-26.67 Million |
| 2013 | 11.61% | 83.01% | 0.14x | 1.01x | TL10.54 Million |
| 2014 | 11.74% | 81.82% | 0.14x | 1.01x | TL12.31 Million |
| 2015 | 12.52% | 154.61% | 0.08x | 1.01x | TL19.29 Million |
| 2016 | 5.46% | 66.77% | 0.08x | 1.03x | TL-34.91 Million |
| 2017 | 20.81% | 267.37% | 0.08x | 1.01x | TL99.77 Million |
| 2018 | 6.99% | 80.08% | 0.09x | 1.01x | TL-28.49 Million |
| 2019 | 6.52% | 70.59% | 0.09x | 1.01x | TL-33.41 Million |
| 2020 | 3.16% | 55.50% | 0.06x | 1.03x | TL-63.84 Million |
| 2021 | 21.52% | 331.95% | 0.06x | 1.01x | TL133.66 Million |
| 2022 | 61.16% | 575.80% | 0.11x | 1.01x | TL1.52 Billion |
| 2023 | 51.50% | 585.91% | 0.08x | 1.07x | TL3.07 Billion |
| 2024 | 7.61% | 108.25% | 0.06x | 1.10x | TL-257.48 Million |
Industry Comparison
This section compares Panora Gayrimenkul Yatirim Ortakligi AS's net assets metrics with peer companies in the REIT - Retail industry.
Industry Context
- Industry: REIT - Retail
- Average net assets among peers: $176,684,569
- Average return on equity (ROE) among peers: 12.77%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Panora Gayrimenkul Yatirim Ortakligi AS (PAGYO) | TL13.55 Billion | 4.75% | 0.11x | $267.15 Million |
| Atakule Gayrimenkul Yatirim Ortakligi AS (AGYO) | $250.61 Million | 4.93% | 0.01x | $47.83 Million |
| Akmerkez Gayrimenkul Yatirim Ortakligi AS (AKMGY) | $232.99 Million | 33.39% | 0.03x | $203.81 Million |
| Yeni Gimat Gayrimenkul Yatirim Ortakligi AS (YGGYO) | $46.45 Million | 0.00% | 0.95x | $1.24 Billion |
About Panora Gayrimenkul Yatirim Ortakligi AS
Panora Gayrimenkul Yatirim Ortakligi A.S. is a real estate investment trust. It invests in the real estate markets of Turkey. Panora Gayrimenkul Yatirim Ortakligi A.S. is based in Turkey.