Turk Tuborg Bira ve Malt Sanayi AS (TBORG) - Net Assets
Based on the latest financial reports, Turk Tuborg Bira ve Malt Sanayi AS (TBORG) has net assets worth TL25.15 Billion TRY (≈ $563.20 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (TL44.29 Billion ≈ $992.06 Million USD) and total liabilities (TL19.15 Billion ≈ $428.85 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 TBORG tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | TL25.15 Billion |
| % of Total Assets | 56.77% |
| Annual Growth Rate | -22.78% |
| 5-Year Change | 705.96% |
| 10-Year Change | 3057.37% |
| Growth Volatility | 140.39 |
Turk Tuborg Bira ve Malt Sanayi AS - Net Assets Trend (2000–2025)
This chart illustrates how Turk Tuborg Bira ve Malt Sanayi AS's net assets have evolved over time, based on quarterly financial data. See TBORG defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Turk Tuborg Bira ve Malt Sanayi AS (2000–2025)
The table below shows the annual net assets of Turk Tuborg Bira ve Malt Sanayi AS from 2000 to 2025. For live valuation and market cap data, see TBORG market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | TL23.59 Billion ≈ $528.28 Million |
+2.71% |
| 2024-12-31 | TL22.96 Billion ≈ $514.35 Million |
+55.00% |
| 2023-12-31 | TL14.82 Billion ≈ $331.85 Million |
+257.66% |
| 2022-12-31 | TL4.14 Billion ≈ $92.78 Million |
+41.55% |
| 2021-12-31 | TL2.93 Billion ≈ $65.55 Million |
+59.88% |
| 2020-12-31 | TL1.83 Billion ≈ $41.00 Million |
+40.17% |
| 2019-12-31 | TL1.31 Billion ≈ $29.25 Million |
-7.08% |
| 2018-12-31 | TL1.41 Billion ≈ $31.48 Million |
+35.46% |
| 2017-12-31 | TL1.04 Billion ≈ $23.24 Million |
+38.88% |
| 2016-12-31 | TL747.04 Million ≈ $16.73 Million |
+46.62% |
| 2015-12-31 | TL509.50 Million ≈ $11.41 Million |
+44.16% |
| 2014-12-31 | TL353.43 Million ≈ $7.92 Million |
+51.49% |
| 2013-12-31 | TL233.30 Million ≈ $5.23 Million |
+55.77% |
| 2012-12-31 | TL149.78 Million ≈ $3.35 Million |
+50.42% |
| 2011-12-31 | TL99.57 Million ≈ $2.23 Million |
-7.83% |
| 2010-12-31 | TL108.02 Million ≈ $2.42 Million |
-5.05% |
| 2009-12-31 | TL113.77 Million ≈ $2.55 Million |
+44.82% |
| 2008-12-31 | TL78.55 Million ≈ $1.76 Million |
+629.04% |
| 2007-12-31 | TL10.78 Million ≈ $241.33K |
+1118.43% |
| 2006-12-31 | TL-1.06 Million ≈ $-23.70K |
-101.69% |
| 2005-12-31 | TL62.75 Million ≈ $1.41 Million |
-56.04% |
| 2004-12-31 | TL142.74 Million ≈ $3.20 Million |
-21.54% |
| 2003-12-31 | TL181.93 Million ≈ $4.07 Million |
-100.00% |
| 2002-12-31 | TL19.32 Trillion ≈ $432.70 Billion |
+27.77% |
| 2000-12-31 | TL15.12 Trillion ≈ $338.66 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to Turk Tuborg Bira ve Malt Sanayi 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 99.5% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | TL7.17 Billion | 30.39% |
| Other Components | TL16.42 Billion | 69.61% |
| Total Equity | TL23.59 Billion | 100.00% |
Turk Tuborg Bira ve Malt Sanayi AS Competitors by Market Cap
The table below lists competitors of Turk Tuborg Bira ve Malt Sanayi AS ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Guangzhou Hengyun Enterprises Holding Ltd
SHE:000531
|
$982.91 Million |
|
Mission Produce Inc
NASDAQ:AVO
|
$983.00 Million |
|
Hna-Caissa Travel Group Co Ltd
SHE:000796
|
$983.33 Million |
|
Omada Health, Inc. Common Stock
NASDAQ:OMDA
|
$983.33 Million |
|
Panca Anugrah Wisesa Tbk PT
JK:MGLV
|
$982.24 Million |
|
ZKTECO Co. Ltd. A
SHE:301330
|
$982.21 Million |
|
Weihai Honglin Electronic Co. Ltd. A
SHE:301439
|
$982.18 Million |
|
Jiaxing ZMAX Optech Co. Ltd. A
SHG:688307
|
$981.82 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Turk Tuborg Bira ve Malt Sanayi AS's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 22,964,920,000 to 23,586,866,000, a change of 621,946,000 (2.7%).
- Net income of 3,376,019,000 contributed positively to equity growth.
- Dividend payments of 2,775,480,000 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | TL3.38 Billion | +14.31% |
| Dividends Paid | TL2.78 Billion | -11.77% |
| Other Changes | TL21.41 Million | +0.09% |
| Total Change | TL- | 2.71% |
Book Value vs Market Value Analysis
This analysis compares Turk Tuborg Bira ve Malt Sanayi 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: 1.86x
- 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 42.28x to 1.86x 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 | TL3.22 | TL136.00 | x |
| 2018-12-31 | TL4.36 | TL136.00 | x |
| 2019-12-31 | TL4.05 | TL136.00 | x |
| 2020-12-31 | TL5.68 | TL136.00 | x |
| 2021-12-31 | TL9.07 | TL136.00 | x |
| 2022-12-31 | TL12.84 | TL136.00 | x |
| 2023-12-31 | TL45.94 | TL136.00 | x |
| 2024-12-31 | TL71.21 | TL136.00 | x |
| 2025-12-31 | TL73.14 | TL136.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Turk Tuborg Bira ve Malt Sanayi 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): 14.31%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 8.25%
- • Asset Turnover: 0.86x
- • Equity Multiplier: 2.01x
- Recent ROE (14.31%) is below the historical average (28.69%), 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 | 11.53% | 10.47% | 0.58x | 1.91x | TL2.79 Million |
| 2012 | 27.03% | 12.45% | 0.97x | 2.24x | TL25.51 Million |
| 2013 | 35.80% | 18.10% | 1.01x | 1.96x | TL60.19 Million |
| 2014 | 33.95% | 20.47% | 0.89x | 1.86x | TL84.66 Million |
| 2015 | 30.96% | 21.24% | 0.81x | 1.79x | TL106.80 Million |
| 2016 | 31.71% | 24.61% | 0.75x | 1.72x | TL162.19 Million |
| 2017 | 29.67% | 24.90% | 0.74x | 1.60x | TL204.03 Million |
| 2018 | 30.43% | 25.16% | 0.73x | 1.66x | TL287.13 Million |
| 2019 | 33.50% | 20.15% | 0.86x | 1.94x | TL306.87 Million |
| 2020 | 28.70% | 20.29% | 0.75x | 1.89x | TL342.27 Million |
| 2021 | 41.15% | 32.77% | 0.77x | 1.63x | TL911.58 Million |
| 2022 | 48.97% | 25.50% | 0.91x | 2.11x | TL1.61 Billion |
| 2023 | 10.05% | 6.02% | 0.89x | 1.88x | TL7.52 Million |
| 2024 | 22.54% | 13.12% | 1.03x | 1.67x | TL2.88 Billion |
| 2025 | 14.31% | 8.25% | 0.86x | 2.01x | TL1.02 Billion |
Industry Comparison
This section compares Turk Tuborg Bira ve Malt Sanayi AS's net assets metrics with peer companies in the Beverages - Brewers industry.
No peer company data available for comparison.
About Turk Tuborg Bira ve Malt Sanayi AS
Türk Tuborg Bira ve Malt Sanayii A.S. produces, sells, and distributes beer and malt in Turkey and internationally. The company offers its products under the Tuborg, Carlsberg, FREDERIK, Troy, and 1664 Blanc brands, as well as imports GUINNESS, Weihenstephan, KILKENNY, Grimbergen, DESPERADOS, CAMPARI, APEROL, CINZANO, and SOL brands. It also exports its products to various countries, such as the … Read more