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

IST:MERIT Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	759.8	754.96	467.9	121.66	15.55	3.9
Depreciation & Amortization	0.03	0.01	-	-	-	0
Loss (Gain) on Equity Investments	-473.62	-468	-25.64	-	-	-
Other Operating Activities	-0.63	-14.81	-381.99	-60.04	17.53	-0.68
Change in Accounts Receivable	-7.81	-40.17	35.07	-47.73	-13.71	-6.55
Change in Accounts Payable	3.19	-0.04	-0.31	-1.71	2.23	0.07
Change in Other Net Operating Assets	-43	6.91	-25.23	47.04	-10.91	16.29
Operating Cash Flow	237.96	238.87	69.8	59.2	10.7	13.03
Operating Cash Flow Growth	435.24%	242.24%	17.89%	453.43%	-17.89%	240374.38%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-0.3	-0.3	-	-	-	-
Cash Acquisitions	-	-	-	-	-3.38	-
Investment in Securities	-403.11	-403.11	-30.11	-	-	-233
Other Investing Activities	223.43	223.43	-	-	-	-
Investing Cash Flow	-179.98	-179.98	-30.11	-	-3.38	-233

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Issuance of Common Stock	-	-	-	-	-	219.98
Common Dividends Paid	-53.59	-53.59	-41.17	-57.9	-5.1	-
Financing Cash Flow	-53.59	-53.59	-41.17	-57.9	-5.1	219.98

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	-	-	-	1.31	-	-
Miscellaneous Cash Flow Adjustments	-1.07	-0.37	-0.46	-	-0.08	-
Net Cash Flow	3.33	4.92	-1.94	2.61	2.15	0.01

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
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%
Free Cash Flow Margin	71.57%	73.44%	35.43%	39.63%	9.50%	114.62%
Free Cash Flow Per Share	0.71	0.71	0.21	0.18	0.03	0.10
Levered Free Cash Flow	41.57	53.52	43.41	41.69	7.88	12.82
Unlevered Free Cash Flow	41.57	53.52	43.41	41.69	7.88	12.82

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Income Tax Paid	28.53	28.52	15.6	8.29	5.56	0.48
Change in Working Capital	-47.62	-33.3	9.53	-2.41	-22.39	9.81

Data Source: S&P Global Market Intelligence Last updated: Mar 31, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 16, 2026

Data Sources Report a data error