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TAV Havalimanlari Holding A.S.

TAV Havalimanlari Holding A.S.

TAVHL.IS
TAV Havalimanlari Holding A.S.TR flagIstanbul Stock Exchange
264.00
TRY
+0.25
- -
95.91BMarket Cap
TAV Havalimanlari Holding A.S.
TAVHL.IS
(Istanbul Stock Exchange)

Recent

price

264.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
2.08
2.41
2.23
2.82
2.51
2.76
3.07
2.83
1.81
2.06
0.83
1.45
2.91
3.61
4.57
5.02
4.82
Revenue per Share
0.14
0.14
0.36
0.37
0.59
0.55
0.33
0.46
0.66
1.03
-0.78
0.12
0.34
0.69
0.5
0.14
0.14
Basic EPS, GAAP
0.6
0.69
0.96
0.8
-0.06
0.51
1.28
0.73
0.83
0.19
-0.09
0.6
0.4
-0.41
0.17
0.37
0.12
Free Cash Flow per Basic Share
- -
- -
0.11
0.17
0.19
0.29
0.32
0.18
0.23
0.37
0.16
0.01
0.02
0.04
0.04
0.01
- -
Dividend per Share
0.55
0.65
0.84
0.98
1.38
1.59
1.65
1.24
1.38
2.93
1.93
2.08
2.46
3.16
3.63
3.79
3.58
Book Value per Share
-1.06
-1.08
-1.06
-1.38
-1.37
-2.93
-2.85
-2.39
-1.87
-1.17
-2.16
-2.48
-1.84
-1.06
-0.25
-1.55
-1.8
Tangible Book Value per Share
363
363
363
363
363
363
363
363
363
363
363
361
362
363
363
363
363
Basic Weighted Avg Shares
755
877
809
1,026
912
1,002
1,115
1,029
657
749
301
522
1,051
1,310
1,660
1,823
1,751
Sales/Revenue/Turnover
16
16.57
23.25
22.52
29.94
34.54
28.34
29.87
25.71
24.17
-12.28
14.04
20.54
18.86
17.09
19.89
16.53
Operating Margin (%)
60
65
66
69
74
85
105
128
101
156
96
76
96
138
206
198
172
Depreciation Expense
52
52
132
133
214
200
120
167
240
373
-285
45
122
249
183
51
52
Net Income, GAAP
18.63
43.41
19.34
29.44
19.7
28.49
43.11
24.43
24.62
32.36
- -
38.03
16.38
10.94
17.82
48.02
52.72
Effective Tax Rate (%)
6.84
5.91
16.34
12.93
23.44
19.98
10.73
16.28
36.59
49.8
-94.53
8.57
11.62
19.02
11.02
2.78
2.97
Profit Margin (%)
226
268
406
387
565
19
-107
-85
75
177
-197
-40
21
143
43
-270
-244
Working Capital
1,008
1,036
1,036
1,175
1,357
1,464
1,272
1,094
1,167
939
620
977
1,448
1,697
1,672
1,337
1,355
LT Debt
540
562
538
626
746
813
807
882
1,028
1,310
935
1,011
1,225
1,426
1,623
1,609
1,528
Total Equity
5.63
4.56
8.38
8.34
9.83
9.31
6.28
8.57
4.69
4.35
- -
1.87
6.77
6.59
6.29
5.02
3.69
Return on Invested Capital (%)
8.34
6.31
12.47
10.98
14.61
11.76
7.53
9.41
13.64
18.35
- -
5.25
9.07
12.47
8.98
3.67
3.32
Return on Capital (%)
29.27
23.7
48.61
40.09
49.88
37.09
20.33
31.93
50.47
47.69
-32.28
6.15
14.89
24.46
14.82
3.76
4.1
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
473
757
737
LT Borrowings
1,563
1,276
1,200
LT Finance Leases
109
113
156
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
363
363
363
Market Capitalization
2,679
2,112
2,014

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
851
832
848
Cash, Cash Equivalents & STI
418
374
364
Accounts Receivable, Net
127
148
178
Inventories
45
46
47
Total Current Liabilities
809
1,084
1,092
Payables & Accruals
- -
- -
- -
ST Debt
473
757
737
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.25%
11.74%
-0.83%
Free Cash Flow
-109.54%
-198.21%
121.18%
Net Income, GAAP
-1.54%
12.51%
-72.32%
Sales/Revenue/Turnover
15.74%
47.15%
9.83%
Total Cash Common Dividend
0.22%
0.64%
-76.91%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
321
411
499
428
1,660
2025
378
445
433
- -
1,823
2026
361
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.02
0.2
0.29
- -
0.5
2025
-0.13
-0.01
- -
- -
0.14
2026
-0.16
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.04
2025
- -
- -
- -
- -
0.01
2026
- -
- -
- -
- -
- -
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Business
TAV Havalimanlari Holding A.S. is a leading airport operations and services company primarily engaged in airport management, construction, and related services. The company operates a diversified portfolio of airports and airport-related services including terminal operations; duty-free retail and food and beverage services; ground handling and cargo services; technology solutions for airport management; and real estate development related to airport infrastructures. TAV's core products and services include passenger terminal management, aviation services such as ground handling and IT solutions, retail operations primarily through duty-free shops, facility management, catering services, and airport construction and consultancy. The company’s operations span multiple countries, including Turkey, Georgia, Tunisia, North Macedonia, and other international locations. Founded in 1997 and headquartered in Istanbul, Turkey, TAV Havalimanlari serves a broad customer base comprising airlines, passengers, retail customers, and commercial tenants within airport environments. In the recent 1-2 years, TAV Havalimanlari Holding has undergone significant strategic developments, including expansion into new markets through acquisitions and strategic partnerships to enhance its service portfolio. The company has launched new airport projects while also modernizing and digitalizing its airport facilities to improve passenger experience and operational efficiency. Additionally, TAV has advanced its retail services and technology offerings, strengthening its commercial revenues. These changes reflect a strategic focus on broadening its regional presence and integrating innovative services within airport ecosystems. The company remains a key player in the aviation industry serving extensive international routes and expanding airport infrastructure projects. TAV Havalimanlari operates primarily within the aviation and airport services industry, catering to commercial airlines, passengers, retail consumers, and government entities. The company’s business segments include airport operations, duty-free and retail management, ground handling and cargo services, and technical services. Its geographic footprint covers Turkey, Balkans, North Africa, and parts of the Middle East and Eurasia, emphasizing markets with growing air traffic and infrastructural development needs. As a parent company, it holds subsidiaries specializing in various airport and aviation-related operations supporting a comprehensive approach to airport management and ancillary services. The company leverages its headquarters in Istanbul to consolidate its international operations and strategic planning. This description reflects TAV Havalimanlari Holding’s comprehensive offerings and its recent corporate developments to maintain and grow its leadership position in airport management and aviation services.