Merit Turizm Yatirim ve Isletme AS (IST:MERIT) EBIT: ₺805.6 Mil (TTM As of Mar. 2026)


IST:MERIT Merit Turizm Yatirim ve Isletme AS IST:MERIT
78 GF Score
Price ₺18.00
GF Value ₺22.07
Valuation Modestly Undervalued
! 4 Warning Signs
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What is Merit Turizm Yatirim ve Isletme AS EBIT?

Merit Turizm Yatirim ve Isletme AS IST:MERIT +3.15% 78 EBIT is ₺805.6 Mil as of Mar. 2026. GuruFocus rates IST:MERIT with a GF Score™ of 78/100 and a GF Value™ of ₺22.07 (Modestly Undervalued). The stock has 4 warning signs investors should review.

Merit Turizm Yatirim ve Isletme AS's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was ₺32.9 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was ₺805.6 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Merit Turizm Yatirim ve Isletme AS's annualized ROC % for the quarter that ended in Mar. 2026 was 0.30%. Merit Turizm Yatirim ve Isletme AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 303.01%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Merit Turizm Yatirim ve Isletme AS's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 13.31%.

Merit Turizm Yatirim ve Isletme AS  (IST:MERIT) EBIT Explanation

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

Merit Turizm Yatirim ve Isletme AS's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=63.636 * ( 1 - 15.09% )/( (17334.245 + 19057.082)/ 2 )
=54.0333276/18195.6635
=0.30 %

where

Invested Capital(Q: Dec. 2025 )
=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))
=17344.343 - 3.599 - ( 6.499 - max(0, 52.948 - 166.503+6.499))
=17334.245

Invested Capital(Q: Mar. 2026 )
=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))
=19072.968 - 10.16 - ( 5.726 - max(0, 16.981 - 134.874+5.726))
=19057.082

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

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

Merit Turizm Yatirim ve Isletme AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=131.628/( ( (0.29 + max(63.622, 0)) + (0.302 + max(22.666, 0)) )/ 2 )
=131.628/( ( 63.912 + 22.968 )/ 2 )
=131.628/43.44
=303.01 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(75.62 + 0 + 40.95) - (3.599 + 0 + 49.349)
=63.622

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(21.247 + 0 + 18.4) - (10.16 + 0 + 6.821)
=22.666

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

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

Merit Turizm Yatirim ve Isletme AS's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=805.631/6053.074
=13.31 %

* 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.

Merit Turizm Yatirim ve Isletme AS EBIT Related Terms

Merit Turizm Yatirim ve Isletme AS EBIT Historical Data

* Premium members only.

The historical data trend for Merit Turizm Yatirim ve Isletme AS'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.

Merit Turizm Yatirim ve Isletme AS EBIT Chart

Merit Turizm Yatirim ve Isletme AS Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.45 41.45 71.58 131.12 803.91

Merit Turizm Yatirim ve Isletme AS Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 27.20 99.87 311.50 361.35 32.91

IST:MERIT vs LVS, MGM, WYNN: EBIT Comparison

For the Resorts & Casinos subindustry, Merit Turizm Yatirim ve Isletme AS's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Merit Turizm Yatirim ve Isletme AS EV-to-EBIT vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Merit Turizm Yatirim ve Isletme AS's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Merit Turizm Yatirim ve Isletme AS's EV-to-EBIT falls into.


IST:MERIT
78GF Score
Merit Turizm Yatirim ve Isletme AS IST:MERIT
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Merit Turizm Yatirim ve Isletme AS 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. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₺805.6 Mil.

* 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.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of ₺805.6 Mil mean?
Merit Turizm Yatirim ve Isletme AS (IST:MERIT) has a EBIT of ₺805.6 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Merit Turizm Yatirim ve Isletme AS.
Is Merit Turizm Yatirim ve Isletme AS's EBIT too high?
Merit Turizm Yatirim ve Isletme AS's current EBIT is ₺805.6 Mil. Overall, Merit Turizm Yatirim ve Isletme AS has a GF Score™ of 78/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Merit Turizm Yatirim ve Isletme AS's EBIT compare to LVS and MGM?
Merit Turizm Yatirim ve Isletme AS's EBIT of ₺805.6 Mil can be compared against companies in the Travel & Leisure industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Travel & Leisure company?
A good EBIT depends on the Travel & Leisure industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Merit Turizm Yatirim ve Isletme AS. Merit Turizm Yatirim ve Isletme AS's current EBIT is ₺805.6 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Merit Turizm Yatirim ve Isletme AS stock overvalued right now?
Based on GuruFocus' analysis, Merit Turizm Yatirim ve Isletme AS (IST:MERIT) is currently considered Modestly Undervalued. The stock's GF Value™ is ₺22.07, compared to a current price of ₺18.00 — trading 18.4% below its estimated fair value. The current EBIT is ₺805.6 Mil. Merit Turizm Yatirim ve Isletme AS's overall GF Score™ is 78/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Merit Turizm Yatirim ve Isletme AS (IST:MERIT), the current EBIT is ₺805.6 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Merit Turizm Yatirim ve Isletme AS (IST:MERIT) Overvalued in 2026?

Based on GuruFocus' analysis, Merit Turizm Yatirim ve Isletme AS stock appears to be undervalued. The current stock price of ₺18.00 is trading 18.4% below its estimated GF Value™ of ₺22.07. GuruFocus considers Merit Turizm Yatirim ve Isletme AS to be Modestly Undervalued.

Key valuation signals for IST:MERIT:

  • EBIT: ₺805.6 Mil
  • GF Value™: ₺22.07 vs. price of ₺18.00 (18.4% below fair value)
  • GF Score™: 78/100 with 4 warning signs

No single metric tells the full story. See the IST:MERIT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Merit Turizm Yatirim ve Isletme AS Business Description

Address Etiler, Street No. 9, Besiktas, Istanbul, TUR, 34337
Merit Turizm Yatirim ve Isletme AS is a hotel management company. It owns and operates the Merit Royal hotel and casino, Merit Crystal Cove hotel and casino, The Merit Park hotel and Casino, The Merit Lefkosa andThe Merit Cyprus Gardens.
78GF Score

Get the complete analysis for IST:MERIT

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₺18.00
Price
₺22.07
GF Value