Tav Havalimanlari Holding AS
TAV Havalimanlari Holding A.S., together with its subsidiaries, constructs terminal buildings, and manages and operates terminals or airports in Turkey, Georgia, Kazakhstan, Macedonia, Tunisia, Croatia, Oman, Latvia, Spain, Qatar, Saudi Arabia, and internationally. It operates through Terminal Operations, Catering Operations, Duty Free Operations, Ground Handling and Bus Operations, and Other seg… Read more
Tav Havalimanlari Holding AS (TAVHY) - Net Assets
Latest net assets as of December 2025: $1.60 Billion USD
Based on the latest financial reports, Tav Havalimanlari Holding AS (TAVHY) has net assets worth $1.60 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($5.15 Billion) and total liabilities ($3.55 Billion). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.60 Billion |
| % of Total Assets | 31.12% |
| Annual Growth Rate | 11.98% |
| 5-Year Change | 58.63% |
| 10-Year Change | 98.64% |
| Growth Volatility | 24.29 |
Tav Havalimanlari Holding AS - Net Assets Trend (2005–2025)
This chart illustrates how Tav Havalimanlari Holding AS's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Tav Havalimanlari Holding AS (2005–2025)
The table below shows the annual net assets of Tav Havalimanlari Holding AS from 2005 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $1.60 Billion | -1.21% |
| 2024-12-31 | $1.62 Billion | +13.77% |
| 2023-12-31 | $1.43 Billion | +16.48% |
| 2022-12-31 | $1.22 Billion | +21.17% |
| 2021-12-31 | $1.01 Billion | +8.13% |
| 2020-12-31 | $934.70 Million | -28.47% |
| 2019-12-31 | $1.31 Billion | +27.15% |
| 2018-12-31 | $1.03 Billion | +15.56% |
| 2017-12-31 | $889.29 Million | +10.18% |
| 2016-12-31 | $807.09 Million | -0.78% |
| 2015-12-31 | $813.43 Million | +9.08% |
| 2014-12-31 | $745.69 Million | +19.07% |
| 2013-12-31 | $626.27 Million | +16.67% |
| 2012-12-31 | $536.77 Million | -4.56% |
| 2011-12-31 | $562.42 Million | +4.08% |
| 2010-12-31 | $540.39 Million | +30.84% |
| 2009-12-31 | $413.00 Million | +33.64% |
| 2008-12-31 | $309.04 Million | -9.25% |
| 2007-12-31 | $340.55 Million | +2.07% |
| 2006-12-31 | $333.64 Million | +100.08% |
| 2005-12-31 | $166.76 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Tav Havalimanlari Holding 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 740.2% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $461.05 Million | 29.25% |
| Common Stock | $7.20 Million | 0.46% |
| Other Comprehensive Income | $1.10 Billion | 69.88% |
| Other Components | $6.54 Million | 0.41% |
| Total Equity | $1.58 Billion | 100.00% |
Tav Havalimanlari Holding AS Competitors by Market Cap
The table below lists competitors of Tav Havalimanlari Holding AS ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Silicon Motion Technology Corporation
F:S9M
|
$2.54 Billion |
|
China Zhenhua Group Science & Technology Co Ltd
SHE:000733
|
$2.54 Billion |
|
Stella-Jones Inc
PINK:STLJF
|
$2.54 Billion |
|
Mankind Pharma Ltd
NSE:MANKIND
|
$2.54 Billion |
|
Sulzer Ltd
PINK:SULZF
|
$2.54 Billion |
|
Ningbo Sanxing Medical Electric Co Ltd
SHG:601567
|
$2.54 Billion |
|
Prestige Consumer Healthcare Inc
F:PBV
|
$2.54 Billion |
|
L&T Finance Limited
NSE:LTF
|
$2.54 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tav Havalimanlari Holding AS's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,607,672,000 to 1,576,341,121, a change of -31,330,879 (-1.9%).
- Net income of 60,564,358 contributed positively to equity growth.
- Dividend payments of 3,314,000 reduced retained earnings.
- Other comprehensive income increased equity by 1,101,550,199.
- Other factors decreased equity by 1,190,131,436.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $60.56 Million | +3.84% |
| Dividends Paid | $3.31 Million | -0.21% |
| Other Comprehensive Income | $1.10 Billion | +69.88% |
| Other Changes | $-1.19 Billion | -75.5% |
| Total Change | $- | -1.95% |
Book Value vs Market Value Analysis
This analysis compares Tav Havalimanlari Holding 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: 1.45x
- 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 10.54x to 1.45x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2005-12-31 | $2.38 | $25.10 | x |
| 2006-12-31 | $4.08 | $25.10 | x |
| 2007-12-31 | $4.13 | $25.10 | x |
| 2008-12-31 | $4.86 | $25.10 | x |
| 2009-12-31 | $4.30 | $25.10 | x |
| 2010-12-31 | $4.82 | $25.10 | x |
| 2011-12-31 | $5.23 | $25.10 | x |
| 2012-12-31 | $5.55 | $25.10 | x |
| 2013-12-31 | $6.54 | $25.10 | x |
| 2014-12-31 | $8.02 | $25.10 | x |
| 2015-12-31 | $8.89 | $25.10 | x |
| 2016-12-31 | $8.90 | $25.10 | x |
| 2017-12-31 | $9.84 | $25.10 | x |
| 2018-12-31 | $11.38 | $25.10 | x |
| 2019-12-31 | $14.49 | $25.10 | x |
| 2020-12-31 | $10.16 | $25.10 | x |
| 2021-12-31 | $11.03 | $25.10 | x |
| 2022-12-31 | $13.33 | $25.10 | x |
| 2023-12-31 | $15.54 | $25.10 | x |
| 2024-12-31 | $17.70 | $25.10 | x |
| 2025-12-31 | $17.36 | $25.10 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tav Havalimanlari Holding 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): 3.84%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.47%
- • Asset Turnover: 0.34x
- • Equity Multiplier: 3.27x
- Recent ROE (3.84%) is below the historical average (10.21%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2005 | 23.89% | 12.92% | 0.25x | 7.37x | $21.66 Million |
| 2006 | -19.08% | -15.35% | 0.28x | 4.37x | $-90.32 Million |
| 2007 | -11.81% | -7.89% | 0.33x | 4.55x | $-70.99 Million |
| 2008 | 1.59% | 0.60% | 0.47x | 5.55x | $-24.73 Million |
| 2009 | 13.82% | 6.00% | 0.45x | 5.16x | $14.22 Million |
| 2010 | 11.81% | 6.84% | 0.37x | 4.66x | $7.91 Million |
| 2011 | 10.91% | 5.91% | 0.42x | 4.38x | $4.32 Million |
| 2012 | 25.17% | 11.40% | 0.50x | 4.46x | $76.52 Million |
| 2013 | 22.34% | 12.93% | 0.45x | 3.81x | $73.28 Million |
| 2014 | 29.33% | 23.44% | 0.34x | 3.63x | $140.84 Million |
| 2015 | 24.81% | 19.98% | 0.30x | 4.09x | $119.57 Million |
| 2016 | 14.81% | 11.58% | 0.33x | 3.84x | $38.86 Million |
| 2017 | 20.74% | 16.28% | 0.38x | 3.36x | $95.95 Million |
| 2018 | 24.25% | 22.77% | 0.32x | 3.33x | $147.33 Million |
| 2019 | 5.85% | 10.79% | 0.19x | 2.91x | $-54.66 Million |
| 2020 | -30.14% | -92.28% | 0.08x | 3.85x | $-370.42 Million |
| 2021 | 4.49% | 8.57% | 0.15x | 3.46x | $-54.85 Million |
| 2022 | 10.14% | 11.62% | 0.25x | 3.55x | $1.74 Million |
| 2023 | 16.36% | 17.63% | 0.28x | 3.37x | $89.76 Million |
| 2024 | 11.38% | 11.02% | 0.34x | 3.02x | $22.23 Million |
| 2025 | 3.84% | 3.47% | 0.34x | 3.27x | $-97.07 Million |
Industry Comparison
This section compares Tav Havalimanlari Holding AS's net assets metrics with peer companies in the Airports & Air Services industry.
Industry Context
- Industry: Airports & Air Services
- Average net assets among peers: $14,639,213,971
- Average return on equity (ROE) among peers: 6.26%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tav Havalimanlari Holding AS (TAVHY) | $1.60 Billion | 23.89% | 2.21x | $2.54 Billion |
| Auckland International Airport Limited (ACKDF) | $8.38 Billion | 0.52% | 0.29x | $8.10 Billion |
| Aeroports de Paris SA (AEOXF) | $5.80 Billion | 10.52% | 1.77x | $1.25 Billion |
| Airports of Thailand Public Company Limited (AIPUF) | $108.81 Billion | 17.21% | 0.47x | $8.18 Billion |
| Aena S.M.E. S.A (ANNSF) | $4.36 Billion | 19.12% | 2.90x | $45.35 Billion |
| AerSale Corp (ASLE) | $455.62 Million | 1.28% | 0.33x | $174.95 Million |
| Beijing Capital International Airport Company Limited (BJCHF) | $14.89 Billion | -11.40% | 1.19x | $604.88 Million |
| Blade Air Mobility Inc (BLDE) | $274.49 Million | -9.93% | 0.18x | $230.30 Million |
| Corporacion America Airports (CAAP) | $862.37 Million | 19.50% | 3.45x | $462.85 Million |
| CHRRD (CHRRD) | $1.28 Billion | 7.92% | 2.01x | $134.94K |
| Chorus Aviation Inc (CHRRF) | $1.28 Billion | 7.92% | 2.01x | $271.74 Million |