Turcas Petrol AS (TRCAS) - Net Assets
Based on the latest financial reports, Turcas Petrol AS (TRCAS) has net assets worth TL14.16 Billion TRY (≈ $317.04 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (TL14.22 Billion ≈ $318.41 Million USD) and total liabilities (TL61.36 Million ≈ $1.37 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 how resilient are Turcas Petrol AS's assets to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | TL14.16 Billion |
| % of Total Assets | 99.57% |
| Annual Growth Rate | -26.52% |
| 5-Year Change | 7314.43% |
| 10-Year Change | 2109.78% |
| Growth Volatility | 133.51 |
Turcas Petrol AS - Net Assets Trend (2000–2025)
This chart illustrates how Turcas Petrol AS's net assets have evolved over time, based on quarterly financial data. Also explore balance sheet size of Turcas Petrol AS for the complete picture of this company's asset base.
Annual Net Assets for Turcas Petrol AS (2000–2025)
The table below shows the annual net assets of Turcas Petrol AS from 2000 to 2025. For live valuation and market cap data, see Turcas Petrol AS (TRCAS) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | TL14.16 Billion ≈ $317.04 Million |
+32.51% |
| 2024-12-31 | TL10.68 Billion ≈ $239.26 Million |
+66.42% |
| 2023-12-31 | TL6.42 Billion ≈ $143.77 Million |
+505.19% |
| 2022-12-31 | TL1.06 Billion ≈ $23.76 Million |
+455.56% |
| 2021-12-31 | TL190.91 Million ≈ $4.28 Million |
-47.65% |
| 2020-12-31 | TL364.67 Million ≈ $8.17 Million |
-29.93% |
| 2019-12-31 | TL520.41 Million ≈ $11.66 Million |
-7.19% |
| 2018-12-31 | TL560.73 Million ≈ $12.56 Million |
-18.61% |
| 2017-12-31 | TL688.95 Million ≈ $15.43 Million |
+7.55% |
| 2016-12-31 | TL640.57 Million ≈ $14.35 Million |
+1.13% |
| 2015-12-31 | TL633.42 Million ≈ $14.19 Million |
-6.85% |
| 2014-12-31 | TL680.03 Million ≈ $15.23 Million |
-3.77% |
| 2013-12-31 | TL706.70 Million ≈ $15.83 Million |
+2.00% |
| 2012-12-31 | TL692.82 Million ≈ $15.52 Million |
+10.10% |
| 2011-12-31 | TL629.28 Million ≈ $14.09 Million |
+14.91% |
| 2010-12-31 | TL547.61 Million ≈ $12.27 Million |
+8.62% |
| 2009-12-31 | TL504.14 Million ≈ $11.29 Million |
-0.30% |
| 2008-12-31 | TL505.66 Million ≈ $11.33 Million |
-1.06% |
| 2007-12-31 | TL511.10 Million ≈ $11.45 Million |
+17.05% |
| 2006-12-31 | TL436.66 Million ≈ $9.78 Million |
+98.94% |
| 2005-12-31 | TL219.49 Million ≈ $4.92 Million |
+26.89% |
| 2004-12-31 | TL172.97 Million ≈ $3.87 Million |
-100.00% |
| 2003-12-31 | TL134.87 Trillion ≈ $3.02 Trillion |
+54.19% |
| 2002-12-31 | TL87.47 Trillion ≈ $1.96 Trillion |
+61.68% |
| 2001-12-31 | TL54.10 Trillion ≈ $1.21 Trillion |
+72.68% |
| 2000-12-31 | TL31.33 Trillion ≈ $701.71 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to Turcas Petrol 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 655271371200.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | TL6.55 Billion | 46.29% |
| Other Components | TL7.60 Billion | 53.71% |
| Total Equity | TL14.16 Billion | 100.00% |
Turcas Petrol AS Competitors by Market Cap
The table below lists competitors of Turcas Petrol AS ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Semperit Aktiengesellschaft Holding
VI:SEM
|
$275.68 Million |
|
Bold Eagle Acquisition Corp. Class A Ordinary Shares
NASDAQ:BEAG
|
$275.71 Million |
|
Xperi Corp
NYSE:XPER
|
$275.71 Million |
|
INTEKPLUS Co. Ltd
KQ:064290
|
$275.78 Million |
|
Anhui Huaqi Environmental Protection Technology Co. Ltd.
SHE:300929
|
$275.53 Million |
|
Bera Holding AS
IS:BERA
|
$275.43 Million |
|
Media and Games Invest PLC
ST:M8G
|
$275.40 Million |
|
Brainchip Holdings Ltd
AU:BRN
|
$275.35 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Turcas Petrol AS's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 10,682,618,562 to 14,155,129,320, a change of 3,472,510,758 (32.5%).
- Net income of 615,786,406 contributed positively to equity growth.
- Dividend payments of 480,306,083 reduced retained earnings.
- Other factors increased equity by 3,337,030,435.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | TL615.79 Million | +4.35% |
| Dividends Paid | TL480.31 Million | -3.39% |
| Other Changes | TL3.34 Billion | +23.57% |
| Total Change | TL- | 32.51% |
Book Value vs Market Value Analysis
This analysis compares Turcas Petrol 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: 0.87x
- 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 17.96x to 0.87x 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 | TL2.77 | TL49.80 | x |
| 2018-12-31 | TL2.27 | TL49.80 | x |
| 2019-12-31 | TL2.11 | TL49.80 | x |
| 2020-12-31 | TL1.48 | TL49.80 | x |
| 2021-12-31 | TL0.77 | TL49.80 | x |
| 2022-12-31 | TL4.29 | TL49.80 | x |
| 2023-12-31 | TL25.97 | TL49.80 | x |
| 2024-12-31 | TL43.22 | TL49.80 | x |
| 2025-12-31 | TL57.27 | TL49.80 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Turcas Petrol 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): 4.35%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.00%
- • Asset Turnover: 0.00x
- • Equity Multiplier: 1.00x
- Recent ROE (4.35%) is below the historical average (10.43%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 33.57% | 1.68% | 4.52x | 4.43x | TL7.39 Trillion |
| 2002 | 19.08% | 1.28% | 5.34x | 2.78x | TL7.94 Trillion |
| 2003 | 25.42% | 2.27% | 6.16x | 1.82x | TL20.79 Trillion |
| 2004 | 11.24% | 1.13% | 6.18x | 1.61x | TL2.14 Million |
| 2005 | 21.19% | 2.51% | 6.47x | 1.31x | TL24.57 Million |
| 2006 | 58.98% | 28.55% | 2.02x | 1.02x | TL213.89 Million |
| 2007 | 21.04% | 3179.22% | 0.01x | 1.02x | TL56.44 Million |
| 2008 | 8.93% | 78.85% | 0.11x | 1.03x | TL-5.40 Million |
| 2009 | 5.48% | 61.39% | 0.09x | 1.03x | TL-22.77 Million |
| 2010 | 10.30% | 107.73% | 0.09x | 1.02x | TL1.62 Million |
| 2011 | 15.56% | 891.35% | 0.01x | 1.37x | TL34.99 Million |
| 2014 | -2.17% | -24.67% | 0.05x | 1.61x | TL-82.78 Million |
| 2015 | -5.75% | -4780.25% | 0.00x | 1.69x | TL-99.76 Million |
| 2016 | 2.82% | 0.00% | 0.00x | 1.81x | TL-45.75 Million |
| 2017 | 9.56% | 0.00% | 0.00x | 1.97x | TL-3.01 Million |
| 2018 | -22.73% | -274.53% | 0.03x | 2.41x | TL-183.53 Million |
| 2019 | -5.51% | -63.82% | 0.03x | 2.53x | TL-80.72 Million |
| 2020 | -34.00% | -193.86% | 0.05x | 3.60x | TL-160.47 Million |
| 2021 | -41.96% | -99.13% | 0.05x | 8.19x | TL-99.19 Million |
| 2022 | 74.78% | 0.00% | -0.04x | 1.41x | TL687.13 Million |
| 2023 | 18.59% | 0.00% | 0.00x | 1.07x | TL551.22 Million |
| 2024 | 11.00% | 0.00% | 0.00x | 1.00x | TL107.20 Million |
| 2025 | 4.35% | 0.00% | 0.00x | 1.00x | TL-799.73 Million |
Industry Comparison
This section compares Turcas Petrol AS's net assets metrics with peer companies in the Utilities - Independent Power Producers industry.
Industry Context
- Industry: Utilities - Independent Power Producers
- Average net assets among peers: $1,115,743,961
- Average return on equity (ROE) among peers: -17.80%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Turcas Petrol AS (TRCAS) | TL14.16 Billion | 33.57% | 0.00x | $275.67 Million |
| Aksa Enerji Uretim AS (AKSEN) | $490.26 Million | -75.06% | 7.68x | $2.43 Billion |
| Dogu Aras Enerji Yatirimlari AS (ARASE) | $2.11 Billion | 41.37% | 2.04x | $582.33 Million |
| Can2 Termik AS (CANTE) | $750.77 Million | -19.70% | 2.59x | $277.50 Million |
About Turcas Petrol AS
Turcas Holding A.S. operates as a petrol and energy-focused investment company in Turkey. It operates through Petrol and Electricity segments. The company's products include lubricants, fuel, and engine oil. It is also involved in the power generation activities. Turcas Holding A.S. was formerly known as Turcas Petrol A.S. and changed its name to Turcas Holding A.S. in August 2025. The company wa… Read more