TAV Havalimanlari Holding A.S. (IST:TAVHL)

IST:TAVHL Financials Overview

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

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	93,338	82,151	59,211	34,433	18,308	7,839
Revenue Growth	37.07%	38.74%	71.96%	88.07%	133.56%	186.29%
Gross Profit Gross Profit Growth	35,557	32,836	22,458	13,495	7,501	3,527
Operating Income Operating Income Growth	17,613	16,142	11,049	6,771	3,805	1,082
Net Income Net Income Growth	5,274	2,816	6,558	7,530	1,899	671.5
Earnings Per Share EPS Growth	14.52	7.75	18.05	20.73	5.25	1.86
EPS Growth	189.41%	-57.06%	-12.91%	294.65%	182.55%	-

Revenue by Segment

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Other Operations Other Operations Growth	22,704	20,744	14,205	6,875	4,022	2,095
Interdepartmental Eliminations Interdepartmental Eliminations Growth	-9,524	-8,254	-4,378	-3,484	-1,870	-1,324
Unallocated The Effect of Using The Equity Method for Business Partnerships Unallocated The Effect of Using The Equity Method for Business Partnerships Growth	-60,165	-50,798	-34,919	-17,773	-11,829	-4,974
Terminal Operations Terminal Operations Growth	68,006	59,733	44,886	27,775	17,024	6,285
Food and Drink Food and Drink Growth	14,408	12,130	7,435	4,480	2,256	1,055
Duty Free Shop Duty Free Shop Growth	22,126	18,828	9,681	6,025	3,031	1,226
Ground Handling and Bus Management Operations Ground Handling and Bus Management Operations Growth	35,784	29,768	22,302	10,535	5,675	3,476
Total Total Growth	93,338	82,151	59,211	34,433	18,308	7,839

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	16,348	24,020	15,353	20,189	6,050	1,396
Total Debt Total Debt Growth	110,976	90,467	67,903	58,205	27,824	20,575
Net Cash (Debt) Net Cash Growth	-94,629	-66,447	-52,550	-38,016	-21,774	-19,180
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share Net Cash Per Share Growth	-260.48	-182.91	-144.65	-104.65	-60.22	-53.10

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	14,312	15,531	11,211	1,635	4,837	3,575
Capital Expenditures CapEx Growth	-9,750	-8,280	-8,959	-5,464	-2,304	-320.17
Free Cash Flow Free Cash Flow Growth	4,563	7,251	2,252	-3,828	2,533	3,255
Free Cash Flow Growth	154.11%	222.05%	-	-	-22.18%	-

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	38.09%	39.97%	37.93%	39.19%	40.97%	45.00%
Operating Margin	18.87%	19.65%	18.66%	19.66%	20.78%	13.80%
Pretax Margin	8.14%	7.53%	14.51%	24.57%	13.24%	15.85%
Profit Margin	5.65%	3.43%	11.08%	21.87%	10.37%	8.57%
FCF Margin	4.89%	8.83%	3.80%	-11.12%	13.84%	41.53%

Dividends

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Fiscal Year	Current	FY 2025
Period Ending	Aug 31, 2026	Dec 31, 2025
Dividend Per Share Dividend Per Share Growth	3.610	3.610
Dividend Per Share Growth	0%	-
Dividend Yield	1.31%	1.22%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	19.41	38.48	15.18	5.19	17.79	17.59
Forward PE	10.93	13.77	10.84	7.41	12.70	21.39
P/FCF Ratio	22.53	14.94	44.21	-	13.33	3.63
PS Ratio	1.10	1.32	1.68	1.13	1.85	1.51

Data Source: S&P Global Market Intelligence Last updated: Jun 30, 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 28, 2026

Data Sources Report a data error