Torunlar Gayrimenkul Yatirim Ortakligi AS (TRGYO) - Net Assets

Latest as of September 2025: TL124.33 Billion TRY ≈ $2.78 Billion USD

Based on the latest financial reports, Torunlar Gayrimenkul Yatirim Ortakligi AS (TRGYO) has net assets worth TL124.33 Billion TRY (≈ $2.78 Billion USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (TL148.51 Billion ≈ $3.33 Billion USD) and total liabilities (TL24.18 Billion ≈ $541.59 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 financial resilience of Torunlar Gayrimenkul Yatirim Ortakligi A to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	TL124.33 Billion
% of Total Assets	83.72%
Annual Growth Rate	30.44%
5-Year Change	1008.77%
10-Year Change	1900.35%
Growth Volatility	38.13

Torunlar Gayrimenkul Yatirim Ortakligi AS - Net Assets Trend (2009–2024)

This chart illustrates how Torunlar Gayrimenkul Yatirim Ortakligi AS's net assets have evolved over time, based on quarterly financial data. Also explore TRGYO total asset value for the complete picture of this company's asset base.

Annual Net Assets for Torunlar Gayrimenkul Yatirim Ortakligi AS (2009–2024)

The table below shows the annual net assets of Torunlar Gayrimenkul Yatirim Ortakligi AS from 2009 to 2024. For live valuation and market cap data, see how much is Torunlar Gayrimenkul Yatirim Ortakligi A worth.

Year	Net Assets	Change
2024-12-31	TL97.24 Billion ≈ $2.18 Billion	+34.61%
2023-12-31	TL72.24 Billion ≈ $1.62 Billion	+113.75%
2022-12-31	TL33.80 Billion ≈ $756.93 Million	+132.77%
2021-12-31	TL14.52 Billion ≈ $325.19 Million	+65.55%
2020-12-31	TL8.77 Billion ≈ $196.42 Million	+3.44%
2019-12-31	TL8.48 Billion ≈ $189.89 Million	+11.35%
2018-12-31	TL7.61 Billion ≈ $170.53 Million	+19.36%
2017-12-31	TL6.38 Billion ≈ $142.87 Million	+6.78%
2016-12-31	TL5.97 Billion ≈ $133.79 Million	+22.89%
2015-12-31	TL4.86 Billion ≈ $108.88 Million	+22.83%
2014-12-31	TL3.96 Billion ≈ $88.64 Million	+32.46%
2013-12-31	TL2.99 Billion ≈ $66.91 Million	+4.94%
2012-12-31	TL2.85 Billion ≈ $63.77 Million	+12.40%
2011-12-31	TL2.53 Billion ≈ $56.73 Million	+6.92%
2010-12-31	TL2.37 Billion ≈ $53.06 Million	+31.24%
2009-12-31	TL1.81 Billion ≈ $40.43 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Torunlar 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 5006.3% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Retained Earnings	TL83.19 Billion	85.55%
Other Components	TL14.05 Billion	14.45%
Total Equity	TL97.24 Billion	100.00%

Torunlar Gayrimenkul Yatirim Ortakligi AS Competitors by Market Cap

The table below lists competitors of Torunlar Gayrimenkul Yatirim Ortakligi AS ranked by their market capitalization.

Company	Market Cap
Melco Resorts & Entertainment Ltd NASDAQ:MLCO	$2.22 Billion
ZIP Co Ltd AU:ZIP	$2.22 Billion
OKE Precision Cutting Tools Co. Ltd. A SHG:688308	$2.22 Billion
Jiangzhong Pharmaceutical Co Ltd SHG:600750	$2.22 Billion
Benchmark Electronics Inc NYSE:BHE	$2.22 Billion
China Bester Group Telecom Co Ltd SHG:603220	$2.22 Billion
Arion banki hf IC:ARION	$2.22 Billion
Shenzhen Everbest Machinery Indus SHE:002980	$2.22 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Torunlar Gayrimenkul Yatirim Ortakligi AS's equity between the two most recent reporting periods.

Equity Growth Insights

From 2023 to 2024, total equity changed from 72,239,372,000 to 97,238,558,000, a change of 24,999,186,000 (34.6%).
Net income of 8,611,405,000 contributed positively to equity growth.
Other factors increased equity by 16,387,781,000.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	TL8.61 Billion	+8.86%
Other Changes	TL16.39 Billion	+16.85%
Total Change	TL-	34.61%

Book Value vs Market Value Analysis

This analysis compares Torunlar 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: 1.02x
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 15.54x to 1.02x 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	TL6.38	TL99.15	x
2018-12-31	TL7.61	TL99.15	x
2019-12-31	TL8.48	TL99.15	x
2020-12-31	TL8.77	TL99.15	x
2021-12-31	TL14.52	TL99.15	x
2022-12-31	TL33.80	TL99.15	x
2023-12-31	TL72.24	TL99.15	x
2024-12-31	TL97.24	TL99.15	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Torunlar 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): 8.86%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 68.83%
• Asset Turnover: 0.11x
• Equity Multiplier: 1.19x
Recent ROE (8.86%) is below the historical average (18.30%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2009	29.67%	85.80%	0.25x	1.39x	TL355.12 Million
2010	9.04%	49.41%	0.14x	1.35x	TL-22.66 Million
2011	7.00%	40.27%	0.11x	1.56x	TL-75.98 Million
2012	11.83%	72.76%	0.10x	1.67x	TL52.18 Million
2013	6.38%	28.31%	0.11x	2.13x	TL-108.20 Million
2014	26.76%	65.36%	0.22x	1.83x	TL663.18 Million
2015	19.62%	140.61%	0.08x	1.82x	TL467.50 Million
2016	19.63%	176.12%	0.06x	1.74x	TL575.03 Million
2017	7.13%	58.34%	0.07x	1.78x	TL-182.76 Million
2018	16.91%	65.87%	0.16x	1.61x	TL525.83 Million
2019	10.21%	87.36%	0.07x	1.62x	TL17.98 Million
2020	3.34%	26.49%	0.08x	1.56x	TL-583.99 Million
2021	36.55%	357.67%	0.07x	1.37x	TL3.85 Billion
2022	54.55%	692.59%	0.07x	1.16x	TL15.06 Billion
2023	25.26%	254.27%	0.09x	1.12x	TL11.02 Billion
2024	8.86%	68.83%	0.11x	1.19x	TL-1.11 Billion

Industry Comparison

This section compares Torunlar Gayrimenkul Yatirim Ortakligi AS's net assets metrics with peer companies in the REIT - Diversified industry.

Industry Context

Industry: REIT - Diversified
Average net assets among peers: $2,402,843,013
Average return on equity (ROE) among peers: 8.40%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Torunlar Gayrimenkul Yatirim Ortakligi AS (TRGYO)	TL124.33 Billion	29.67%	0.19x	$2.22 Billion
Akis Gayrimenkul Yatirim Ortakligi AS (AKSGY)	$4.02 Billion	13.66%	0.57x	$485.19 Million
Alarko Gayrimenkul Yatirim Ortakligi AS (ALGYO)	$158.92 Million	1.95%	0.27x	$40.57 Million
Ata Gayrimenkul Yatirim Ortakligi AS (ATAGY)	$729.42 Million	-0.88%	0.20x	$13.83 Million
Dogus Gayrimenkul Yatirim Ortakligi AS (DGGYO)	$13.78 Billion	-1.70%	0.42x	$231.26 Million
Deniz Gayrimenkul Yatirim Ortakligi AS (DZGYO)	$264.84 Million	5.04%	2.21x	$70.78 Million
Edip Gayrimenkul Yatirim Sanayi ve Ticaret AS (EDIP)	$221.93 Million	16.86%	1.28x	$57.10 Million
EYG Gayrimenkul Yatirim Ortakligi A.S. (EYGYO)	$1.06 Billion	29.86%	2.49x	$42.96 Million
Halk Gayrimenkul Yatirim Ortakligi AS (HLGYO)	$2.93 Billion	12.04%	0.20x	$483.29 Million
Is Gayrimenkul Yatirim Ortakligi AS (ISGYO)	$778.84 Million	2.47%	0.03x	$428.40 Million
Yapi Kredi Koray Gayrimenkul Yatirim Ortakligi AS (KGYO)	$81.93 Million	4.73%	0.19x	$178.46 Million

About Torunlar Gayrimenkul Yatirim Ortakligi AS

IS:TRGYO Turkey REIT - Diversified

Market Cap

$2.22 Billion

TL99.15 Billion TRY

Market Cap Rank

#5885 Global

#42 in Turkey

Share Price

TL99.15

Change (1 day)

+1.17%

52-Week Range

TL59.50 - TL99.15

All Time High

TL99.15