Turk Tuborg Bira ve Malt Sanayi AS (TBORG) - Net Assets

Latest as of September 2025: TL23.14 Billion TRY ≈ $518.22 Million USD

Based on the latest financial reports, Turk Tuborg Bira ve Malt Sanayi AS (TBORG) has net assets worth TL23.14 Billion TRY (≈ $518.22 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 (TL43.79 Billion ≈ $980.69 Million USD) and total liabilities (TL20.65 Billion ≈ $462.47 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 Turk Tuborg Bira ve Malt Sanayi AS liquidity resilience to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	TL23.14 Billion
% of Total Assets	52.84%
Annual Growth Rate	-24.54%
5-Year Change	858.48%
10-Year Change	3343.53%
Growth Volatility	143.34

Turk Tuborg Bira ve Malt Sanayi AS - Net Assets Trend (2000–2024)

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

Annual Net Assets for Turk Tuborg Bira ve Malt Sanayi AS (2000–2024)

The table below shows the annual net assets of Turk Tuborg Bira ve Malt Sanayi AS from 2000 to 2024. For live valuation and market cap data, see TBORG market cap overview.

Year	Net Assets	Change
2024-12-31	TL17.54 Billion ≈ $392.96 Million	+18.41%
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	--

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 99.7% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Retained Earnings	TL5.23 Billion	29.80%
Other Components	TL12.32 Billion	70.20%
Total Equity	TL17.54 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
Intracom Constructions Societe Anonyme Technical and Steel Constructions AT:INKAT	$1.03 Billion
Mercialys SA PA:MERY	$1.03 Billion
Shandong Fiberglass Group Co Ltd SHG:605006	$1.03 Billion
IntelliEPI Cayman TWO:4971	$1.03 Billion
Lecron Energy Saving Materials SHE:300343	$1.03 Billion
Chengdu Bright Eye Hospital Co. Ltd. SHE:301239	$1.03 Billion
China West Construction Group Co Ltd SHE:002302	$1.03 Billion
Anhui Huaheng Biotechnology Co. Ltd. A SHG:688639	$1.02 Billion

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 2023 to 2024, total equity changed from 14,816,522,000 to 17,544,893,000, a change of 2,728,371,000 (18.4%).
Net income of 3,955,003,000 contributed positively to equity growth.
Dividend payments of 1,203,667,000 reduced retained earnings.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	TL3.96 Billion	+22.54%
Dividends Paid	TL1.20 Billion	-6.86%
Other Changes	TL-22.96 Million	-0.13%
Total Change	TL-	18.41%

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: 2.61x
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 44.14x to 2.61x 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	TL142.00	x
2018-12-31	TL4.36	TL142.00	x
2019-12-31	TL4.05	TL142.00	x
2020-12-31	TL5.68	TL142.00	x
2021-12-31	TL9.07	TL142.00	x
2022-12-31	TL12.84	TL142.00	x
2023-12-31	TL45.94	TL142.00	x
2024-12-31	TL54.40	TL142.00	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): 22.54%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 13.12%
• Asset Turnover: 1.03x
• Equity Multiplier: 1.67x
Recent ROE (22.54%) is below the historical average (29.71%), 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	TL2.20 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

IS:TBORG Turkey Beverages - Brewers

Market Cap

$1.03 Billion

TL45.80 Billion TRY

Market Cap Rank

#8994 Global

#71 in Turkey

Share Price

TL142.00

Change (1 day)

-0.98%

52-Week Range

TL141.10 - TL208.10

All Time High

TL208.10