Turk Hava Yollari AO (IST:THYAO) EBIT

: ₺60,383 Mil (TTM As of Mar. 2023)

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Turk Hava Yollari AO's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2023 was ₺7,600 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2023 was ₺60,383 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Turk Hava Yollari AO's annualized ROC % for the quarter that ended in Mar. 2023 was 1.78%. Turk Hava Yollari AO's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2023 was 7.56%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Turk Hava Yollari AO's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2023 was 13.93%.

Turk Hava Yollari AO EBIT Historical Data

The historical data trend for Turk Hava Yollari AO's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Turk Hava Yollari AO Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

EBIT

6,670.69

6,528.44

-4,773.68

12,766.16

58,569.96

Turk Hava Yollari AO Quarterly Data
	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23
EBIT																3,200.45	12,285.54	33,440.97	7,057.05	7,599.58

Turk Hava Yollari AO EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was ₺60,383 Mil.

Turk Hava Yollari AO (IST:THYAO) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Turk Hava Yollari AO's annualized ROC % for the quarter that ended in Mar. 2023 is calculated as:

	ROC % (Q: Mar. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2022 )	+	Invested Capital (Q: Mar. 2023 ))	/ count )
=	12311.32 * ( 1 - 15.58% )	/	( (568248.927	+	600423.749)	/ 2 )
=	10393.216344	/	584336.338
=	1.78 %

where

	Invested Capital		(Q: Dec. 2022 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	577535.283	-	28197.436	-	( 89855.862	-	max(0, 153764.251	-	134853.171	+	89855.862	))
=	568248.927

	Invested Capital		(Q: Mar. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	609277.258	-	30208.327	-	( 102917.3	-	max(0, 171655.494	-	150300.676	+	102917.3	))
=	600423.749

Note: The Operating Income data used here is four times the quarterly (Mar. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Turk Hava Yollari AO's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2022		Q: Mar. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	30398.316	/	( ( (396277.331 + max(-38708.59, 0))	+	(408135.397 + max(-47041.395, 0)) )	/	2 )
=	30398.316	/	( ( 396277.331	+	408135.397 )	/	2 )
=	30398.316	/	402206.364
=	7.56 %

where Working Capital is:

	Working Capital		(Q: Dec. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(18584.671	+	6184.909	+	20227.729)	-	(28197.436	+	0	+	55508.463)
=	-38708.59

	Working Capital		(Q: Mar. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(17194.048	+	6459.642	+	23729.686)	-	(30208.327	+	0	+	64216.444)
=	-47041.395

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Turk Hava Yollari AO's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2023 )
	=	60383.126	/	433399.049
	=	13.93 %

Turk Hava Yollari AO EBIT Related Terms

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Turk Hava Yollari AO (IST:THYAO) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Turk Hava Yollari AO (IST:THYAO) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

TKHVY:USA TU5A:Germany

Address

Havaalani Cad. No: 3/1, Genel Yonetim Binasi, 9th Floor, Yesilkoy, Bakirkoy, Istanbul, TUR, 34149

Website

https://www.turkishairlines.com

Turk Hava Yollari AO is a Turkish airline operator. It has one of the largest flight networks in the world, and transports passengers to many different regions. Additionally, it can provide long-haul direct cargo flights, and other logistics to serve a diverse range of customers. It has two operating segments: air transportation and aircraft technical maintenance operations. The majority of revenue is generated from transferring passengers and cargo (air transportation segment). The company owns several hangars to perform maintenance on different types of aircraft. Its geographical segments are Asia & Far East, Europe, Americas, Africa, and Middle East.

Turk Hava Yollari AO (IST:THYAO) Headlines

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