Merit Turizm Yatirim ve Isletme Anonim Sirketi (IST:MERIT)

Turkey · Delayed Price · Currency is TRY

16.38

-0.50 (-2.96%)

At close: Aug 14, 2026

IST:MERIT Financials Overview

Financials in millions TRY. Fiscal year is January - December.

Millions TRY. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	332.06	324.83	197	149.41	112.6	11.37
Revenue Growth	57.35%	64.89%	31.86%	32.68%	890.58%	135.82%
Gross Profit	319.58	312.42	184.46	124.58	74.66	9.94
Operating Income	177.53	181.21	97.55	75.61	46.81	5.23
Net Income	759.8	754.96	467.9	121.66	15.55	3.9
Earnings Per Share	2.25	2.24	1.39	0.36	0.05	0.03
EPS Growth	107.25%	61.15%	284.59%	682.10%	61.50%	-64.11%

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Cash (Debt)	5.73	6.5	1.58	2.69	2.27	0.05
Net Cash Growth	292.97%	312.46%	-41.34%	18.20%	4872.62%	14.81%
Net Cash Per Share	0.02	0.02	0.00	0.01	0.01	0.00
Cash & Investments	5.73	6.5	1.58	2.69	2.27	0.05

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	237.96	238.87	69.8	59.2	10.7	13.03
Capital Expenditures	-0.3	-0.3	-	-	-	-
Free Cash Flow	237.66	238.56	69.8	59.2	10.7	13.03
Free Cash Flow Growth	434.56%	241.80%	17.89%	453.43%	-17.89%	240374.38%

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	96.24%	96.18%	93.64%	83.38%	66.31%	87.45%
Operating Margin	53.46%	55.78%	49.52%	50.61%	41.57%	45.98%
Pretax Margin	243.81%	247.48%	60.98%	45.14%	36.37%	45.97%
Profit Margin	228.81%	232.41%	237.51%	81.43%	13.81%	34.29%
FCF Margin	71.57%	73.44%	35.43%	39.63%	9.50%	114.62%

Dividends

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Aug '26 Aug 17, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Dividend Per Share	0.140	-	0.140	0.083	0.083
Dividend Per Share Growth	68.01%	-	68.07%	0%	-
Dividend Yield	0.85%	-	0.90%	1.52%	2.51%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug '26 Aug 17, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	7.27	7.98	11.35	15.39	74.91	220.17
P/FCF Ratio	23.20	25.26	76.05	31.63	108.92	65.88
PS Ratio	16.60	18.55	26.95	12.53	10.35	75.51