Tofas Turk Otomobil Fabrikasi AS (TOASO) - Net Assets
Based on the latest financial reports, Tofas Turk Otomobil Fabrikasi AS (TOASO) has net assets worth TL58.96 Billion TRY (≈ $1.32 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (TL200.82 Billion ≈ $4.50 Billion USD) and total liabilities (TL141.85 Billion ≈ $3.18 Billion 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 TOASO intangible-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | TL58.96 Billion |
| % of Total Assets | 29.36% |
| Annual Growth Rate | -26.51% |
| 5-Year Change | 945.22% |
| 10-Year Change | 1929.83% |
| Growth Volatility | 62.84 |
Tofas Turk Otomobil Fabrikasi AS - Net Assets Trend (2000–2025)
This chart illustrates how Tofas Turk Otomobil Fabrikasi AS's net assets have evolved over time, based on quarterly financial data. See Tofas Turk Otomobil Fabrikasi AS defensive liquidity buffer to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Tofas Turk Otomobil Fabrikasi AS (2000–2025)
The table below shows the annual net assets of Tofas Turk Otomobil Fabrikasi AS from 2000 to 2025. For live valuation and market cap data, see market cap of Tofas Turk Otomobil Fabrikasi AS.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | TL60.03 Billion ≈ $1.34 Billion |
+27.45% |
| 2024-12-31 | TL47.10 Billion ≈ $1.05 Billion |
+27.72% |
| 2023-12-31 | TL36.88 Billion ≈ $826.01 Million |
+225.97% |
| 2022-12-31 | TL11.31 Billion ≈ $253.40 Million |
+96.99% |
| 2021-12-31 | TL5.74 Billion ≈ $128.64 Million |
+28.53% |
| 2020-12-31 | TL4.47 Billion ≈ $100.09 Million |
+3.22% |
| 2019-12-31 | TL4.33 Billion ≈ $96.96 Million |
+16.80% |
| 2018-12-31 | TL3.71 Billion ≈ $83.02 Million |
+3.45% |
| 2017-12-31 | TL3.58 Billion ≈ $80.25 Million |
+21.15% |
| 2016-12-31 | TL2.96 Billion ≈ $66.24 Million |
+14.53% |
| 2015-12-31 | TL2.58 Billion ≈ $57.84 Million |
+15.22% |
| 2014-12-31 | TL2.24 Billion ≈ $50.20 Million |
+18.03% |
| 2013-12-31 | TL1.90 Billion ≈ $42.53 Million |
-7.92% |
| 2012-12-31 | TL2.06 Billion ≈ $46.19 Million |
+15.24% |
| 2011-12-31 | TL1.79 Billion ≈ $40.08 Million |
+4.89% |
| 2010-12-31 | TL1.71 Billion ≈ $38.21 Million |
+19.94% |
| 2009-12-31 | TL1.42 Billion ≈ $31.85 Million |
+27.05% |
| 2008-12-31 | TL1.12 Billion ≈ $25.07 Million |
-3.58% |
| 2007-12-31 | TL1.16 Billion ≈ $26.00 Million |
+14.05% |
| 2006-12-31 | TL1.02 Billion ≈ $22.80 Million |
-1.95% |
| 2005-12-31 | TL1.04 Billion ≈ $23.25 Million |
+16.94% |
| 2004-12-31 | TL887.86 Million ≈ $19.89 Million |
-100.00% |
| 2003-12-31 | TL732.01 Trillion ≈ $16.40 Trillion |
+6.19% |
| 2002-12-31 | TL689.35 Trillion ≈ $15.44 Trillion |
+201.10% |
| 2001-12-31 | TL228.94 Trillion ≈ $5.13 Trillion |
+72.67% |
| 2000-12-31 | TL132.59 Trillion ≈ $2.97 Trillion |
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Equity Component Analysis
This analysis shows how different components contribute to Tofas Turk Otomobil Fabrikasi 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 2978313700000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | TL29.78 Billion | 49.61% |
| Other Components | TL30.25 Billion | 50.39% |
| Total Equity | TL60.03 Billion | 100.00% |
Tofas Turk Otomobil Fabrikasi AS Competitors by Market Cap
The table below lists competitors of Tofas Turk Otomobil Fabrikasi AS ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Hpsp Co Ltd
KQ:403870
|
$3.63 Billion |
|
Bitdeer Technologies Group Class A Ordinary Shares
NASDAQ:BTDR
|
$3.63 Billion |
|
Kenon Holdings
NYSE:KEN
|
$3.63 Billion |
|
Aris Mining Corporation
TO:ARIS
|
$3.63 Billion |
|
Baoding Tianwei Baobian Electric Co Ltd
SHG:600550
|
$3.63 Billion |
|
Rubis SCA
PA:RUI
|
$3.63 Billion |
|
Brighthouse Financial Inc
NASDAQ:BHF
|
$3.62 Billion |
|
ViTrox Corporation Bhd
KLSE:0097
|
$3.62 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tofas Turk Otomobil Fabrikasi AS's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 47,101,612,000 to 60,031,247,000, a change of 12,929,635,000 (27.5%).
- Net income of 8,353,933,000 contributed positively to equity growth.
- Dividend payments of 7,135,514,000 reduced retained earnings.
- Other factors increased equity by 11,711,216,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | TL8.35 Billion | +13.92% |
| Dividends Paid | TL7.14 Billion | -11.89% |
| Other Changes | TL11.71 Billion | +19.51% |
| Total Change | TL- | 27.45% |
Book Value vs Market Value Analysis
This analysis compares Tofas Turk Otomobil Fabrikasi 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: 2.70x
- 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 45.21x to 2.70x 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 | TL7.17 | TL324.00 | x |
| 2018-12-31 | TL7.41 | TL324.00 | x |
| 2019-12-31 | TL8.66 | TL324.00 | x |
| 2020-12-31 | TL8.94 | TL324.00 | x |
| 2021-12-31 | TL11.49 | TL324.00 | x |
| 2022-12-31 | TL22.63 | TL324.00 | x |
| 2023-12-31 | TL73.76 | TL324.00 | x |
| 2024-12-31 | TL94.20 | TL324.00 | x |
| 2025-12-31 | TL120.06 | TL324.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tofas Turk Otomobil Fabrikasi 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): 13.92%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 2.52%
- • Asset Turnover: 1.91x
- • Equity Multiplier: 2.89x
- Recent ROE (13.92%) is below the historical average (26.55%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 4.33% | 1.53% | 1.18x | 2.40x | TL-38.69 Trillion |
| 2003 | 0.87% | 0.31% | 1.30x | 2.18x | TL-66.86 Trillion |
| 2004 | 3.80% | 1.28% | 1.58x | 1.88x | TL-55.09 Million |
| 2005 | 13.66% | 5.58% | 1.32x | 1.86x | TL38.02 Million |
| 2006 | 8.04% | 2.68% | 1.26x | 2.38x | TL-19.92 Million |
| 2007 | 15.14% | 4.92% | 1.12x | 2.74x | TL59.71 Million |
| 2008 | 15.70% | 3.66% | 1.34x | 3.19x | TL63.81 Million |
| 2009 | 25.34% | 7.07% | 1.17x | 3.07x | TL218.13 Million |
| 2010 | 22.52% | 5.99% | 1.21x | 3.10x | TL213.63 Million |
| 2011 | 26.50% | 6.36% | 1.18x | 3.52x | TL295.23 Million |
| 2012 | 21.74% | 6.50% | 1.14x | 2.94x | TL242.11 Million |
| 2013 | 22.87% | 6.02% | 1.22x | 3.12x | TL244.34 Million |
| 2014 | 25.62% | 7.53% | 1.07x | 3.18x | TL350.12 Million |
| 2015 | 32.17% | 8.17% | 1.03x | 3.82x | TL572.57 Million |
| 2016 | 32.81% | 6.64% | 1.23x | 4.00x | TL674.48 Million |
| 2017 | 35.80% | 7.18% | 1.29x | 3.87x | TL924.51 Million |
| 2018 | 35.89% | 6.97% | 1.47x | 3.51x | TL959.77 Million |
| 2019 | 34.22% | 7.65% | 1.51x | 2.96x | TL1.05 Billion |
| 2020 | 39.93% | 7.44% | 1.23x | 4.36x | TL1.34 Billion |
| 2021 | 57.13% | 10.75% | 1.30x | 4.09x | TL2.71 Billion |
| 2022 | 75.68% | 12.82% | 1.65x | 3.57x | TL7.43 Billion |
| 2023 | 59.05% | 11.61% | 2.38x | 2.13x | TL18.09 Billion |
| 2024 | 14.51% | 4.04% | 1.84x | 1.95x | TL2.12 Billion |
| 2025 | 13.92% | 2.52% | 1.91x | 2.89x | TL2.35 Billion |
Industry Comparison
This section compares Tofas Turk Otomobil Fabrikasi AS's net assets metrics with peer companies in the Auto Manufacturers industry.
Industry Context
- Industry: Auto Manufacturers
- Average net assets among peers: $8,652,459,616
- Average return on equity (ROE) among peers: 6.46%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tofas Turk Otomobil Fabrikasi AS (TOASO) | TL58.96 Billion | 4.33% | 2.41x | $3.63 Billion |
| Anadolu Isuzu Otomotiv Sanayi ve Ticaret AS (ASUZU) | $15.78 Billion | 5.74% | 1.78x | $57.20 Million |
| Ford Otomotiv Sanayi AS (FROTO) | $1.63 Billion | 30.70% | 0.73x | $7.18 Billion |
| Otokar Otomotiv ve Savunma Sanayi AS (OTKAR) | $8.55 Billion | -17.07% | 6.67x | $962.19 Million |
About Tofas Turk Otomobil Fabrikasi AS
Tofas Türk Otomobil Fabrikasi Anonim Sirketi engages in manufacturing, exporting, and selling passenger carsand light commercial vehicles in Turkey. It also produces various automotive spare parts, as well as trades in automobile and spare parts; and provides consumer financing and insurance services. The company offers its products under the Peugeout, Citroen, Opel, Fiat, Jeep, Alfa Romeo, DS, M… Read more