Torunlar Gayrimenkul Yatirim Ortakligi AS (IST:TRGYO) Pretax Margin %: 68.21% (As of Mar. 2026) — 28% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

IST:TRGYO Torunlar Gayrimenkul Yatirim Ortakligi AS IST:TRGYO
87 GF Score
Price ₺97.30
GF Value ₺79.58
Valuation Modestly Overvalued
! 8 Warning Signs
View Full Analysis

What is Torunlar Gayrimenkul Yatirim Ortakligi AS Pretax Margin %?

Torunlar Gayrimenkul Yatirim Ortakligi AS IST:TRGYO -1.17% 87 Pretax Margin % is 68.21% as of Mar. 2026, which is 28% below its 10-year median of 94.26. GuruFocus rates IST:TRGYO with a GF Score™ of 87/100 and a GF Value™ of ₺79.58 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 923 REITs companies, Torunlar Gayrimenkul Yatirim Ortakligi AS ranks better than 84.29% on this metric.

Pre-Tax margin is calculated as Pre-Tax Income divided by its Revenue. Torunlar Gayrimenkul Yatirim Ortakligi AS's Pre-Tax Income for the three months ended in Mar. 2026 was ₺2,290 Mil. Torunlar Gayrimenkul Yatirim Ortakligi AS's Revenue for the three months ended in Mar. 2026 was ₺3,357 Mil. Therefore, Torunlar Gayrimenkul Yatirim Ortakligi AS's pretax margin for the quarter that ended in Mar. 2026 was 68.21%.

The historical rank and industry rank for Torunlar Gayrimenkul Yatirim Ortakligi AS's Pretax Margin % or its related term are showing as below:

IST:TRGYO' s Pretax Margin % Range Over the Past 10 Years
Min: 26.49   Med: 94.26   Max: 357.67
Current: 97.82


IST:TRGYO's Pretax Margin % is ranked better than
84.29% of 923 companies
in the REITs industry
Industry Median: 47.33 vs IST:TRGYO: 97.82

Torunlar Gayrimenkul Yatirim Ortakligi AS  (IST:TRGYO) Pretax Margin % Explanation

The pretax margin, as know as pretax profit margin, is widely used to measure the operating efficiency of a company before deducting taxes.

The pretax margin is sometimes preferred over the net margin as tax expenditures can make profitability comparisons between companies misleading.

It is a useful tool to compare companies operating in the same sector and less effective when comparing companies from other sectors as each industry generally has different operating expenses and sales patterns.

The long term trend of the pretax margin is a good indicator of the competitiveness and health of the business.


Torunlar Gayrimenkul Yatirim Ortakligi AS Pretax Margin % Related Terms


Torunlar Gayrimenkul Yatirim Ortakligi AS Pretax Margin % Historical Data

* Premium members only.

The historical data trend for Torunlar Gayrimenkul Yatirim Ortakligi AS's Pretax Margin % 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.

Torunlar Gayrimenkul Yatirim Ortakligi AS Pretax Margin % Chart

Torunlar Gayrimenkul Yatirim Ortakligi AS Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Pretax Margin %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 357.67 309.66 254.29 74.24 101.15

Torunlar Gayrimenkul Yatirim Ortakligi AS Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Pretax Margin % 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 67.31 186.87 95.36 87.52 68.21

IST:TRGYO vs VICI, WPC: Pretax Margin % Comparison

For the REIT - Diversified subindustry, Torunlar Gayrimenkul Yatirim Ortakligi AS's Pretax Margin %, along with its competitors' market caps and Pretax Margin % 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.


Torunlar Gayrimenkul Yatirim Ortakligi AS Pretax Margin % vs REITs Industry

For the REITs industry and Real Estate sector, Torunlar Gayrimenkul Yatirim Ortakligi AS's Pretax Margin % distribution charts can be found below:

* The bar in red indicates where Torunlar Gayrimenkul Yatirim Ortakligi AS's Pretax Margin % falls into.


IST:TRGYO
87GF Score
Torunlar Gayrimenkul Yatirim Ortakligi AS IST:TRGYO
Pretax Margin % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Torunlar Gayrimenkul Yatirim Ortakligi AS Pretax Margin % Calculation

Pretax margin - also known as pretax profit margin is the ratio of Pretax Income divided by net sales or Revenue, usually presented in percent.

Torunlar Gayrimenkul Yatirim Ortakligi AS's Pretax Margin for the fiscal year that ended in Dec. 2025 is calculated as

Pretax Margin=Pre-Tax Income (A: Dec. 2025 )/Revenue (A: Dec. 2025 )
=15027.678/14856.18
=101.15 %

Torunlar Gayrimenkul Yatirim Ortakligi AS's Pretax Margin for the quarter that ended in Mar. 2026 is calculated as

Pretax Margin=Pre-Tax Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=2290.062/3357.28
=68.21 %

* 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 Pretax Margin % →
What does a Pretax Margin % of 68.21% mean?
Torunlar Gayrimenkul Yatirim Ortakligi AS (IST:TRGYO) has a Pretax Margin % of 68.21% as of Mar. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Torunlar Gayrimenkul Yatirim Ortakligi AS and its competitors. This is 28% below median its historical median of 94.26. Over the past decade, Torunlar Gayrimenkul Yatirim Ortakligi AS's Pretax Margin % has ranged from 26.49 to 357.67. According to the industry distribution chart, Torunlar Gayrimenkul Yatirim Ortakligi AS ranks #145 out of 923 companies in the REITs industry, placing it in the top 15.7%.
Is Torunlar Gayrimenkul Yatirim Ortakligi AS's Pretax Margin % too high?
Torunlar Gayrimenkul Yatirim Ortakligi AS's current Pretax Margin % of 68.21% is 28% below median its 10-year median of 94.26. Over the past 10 years, this metric has ranged from a low of 26.49 to a high of 357.67. The REITs industry median Pretax Margin % is 47.33. Torunlar Gayrimenkul Yatirim Ortakligi AS's value of 68.21% is 44.1% above this industry median. Based on the distribution chart, Torunlar Gayrimenkul Yatirim Ortakligi AS ranks #145 out of 923 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, Torunlar Gayrimenkul Yatirim Ortakligi AS has a GF Score™ of 87/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Torunlar Gayrimenkul Yatirim Ortakligi AS's Pretax Margin % compare to VICI and WPC?
According to the REITs industry distribution chart, Torunlar Gayrimenkul Yatirim Ortakligi AS ranks #145 out of 923 companies for Pretax Margin %. This places Torunlar Gayrimenkul Yatirim Ortakligi AS in the top 16% of its industry — outperforming the majority of peers. The industry median Pretax Margin % is 47.33. Torunlar Gayrimenkul Yatirim Ortakligi AS's value of 68.21% is 44.1% above this benchmark. Historically, Torunlar Gayrimenkul Yatirim Ortakligi AS's own Pretax Margin % has ranged from 26.49 to 357.67 over the past decade. While the company's 10-year median is 94.26 vs. the industry median of 47.33, Torunlar Gayrimenkul Yatirim Ortakligi AS has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Pretax Margin % for a REITs company?
The median Pretax Margin % among REITs companies is 47.33, based on 923 companies in the industry. Companies in the top quartile (top 25%) have a Pretax Margin % significantly above this median, while those in the bottom quartile fall well below. However, Pretax Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Torunlar Gayrimenkul Yatirim Ortakligi AS's current Pretax Margin % of 68.21% is 44.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Pretax Margin % mean?
A high Pretax Margin % can signal that a stock is expensive relative to its fundamentals. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Torunlar Gayrimenkul Yatirim Ortakligi AS and its competitors. For the REITs industry, the median Pretax Margin % is 47.33 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Torunlar Gayrimenkul Yatirim Ortakligi AS's current Pretax Margin % is 68.21%, which is 28% below median its own 10-year median of 94.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Torunlar Gayrimenkul Yatirim Ortakligi AS stock overvalued right now?
Based on GuruFocus' analysis, Torunlar Gayrimenkul Yatirim Ortakligi AS (IST:TRGYO) is currently considered Modestly Overvalued. The stock's GF Value™ is ₺79.58, compared to a current price of ₺97.30 — trading 22.3% above its estimated fair value. The current Pretax Margin % is 68.21%, which is 28% below median its 10-year median of 94.26 and 44.1% above the REITs industry median of 47.33. Torunlar Gayrimenkul Yatirim Ortakligi AS's overall GF Score™ is 87/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Pretax Margin % calculated?
Pretax Margin % is calculated from a company's financial statements. For Torunlar Gayrimenkul Yatirim Ortakligi AS (IST:TRGYO), the current Pretax Margin % is 68.21% 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 Torunlar Gayrimenkul Yatirim Ortakligi AS (IST:TRGYO) Overvalued in 2026?

Based on GuruFocus' analysis, Torunlar Gayrimenkul Yatirim Ortakligi AS stock appears to be overvalued. The current stock price of ₺97.30 is trading 22.3% above its estimated GF Value™ of ₺79.58. GuruFocus considers Torunlar Gayrimenkul Yatirim Ortakligi AS to be Modestly Overvalued.

Key valuation signals for IST:TRGYO:

  • Pretax Margin %: 68.21% (28% below median its 10-year median of 94.26)
  • GF Value™: ₺79.58 vs. price of ₺97.30 (22.3% above fair value)
  • GF Score™: 87/100 with 8 warning signs
  • Industry Position: 44.1% above the REITs median (#145 of 923)

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


Torunlar Gayrimenkul Yatirim Ortakligi AS Business Description

Industry Real EstateREITs
Address Ruzgarlibahce Neighborhood Ozalp Exit No. 4, Beykoz, Istanbul, TUR, 34805
Torunlar Gayrimenkul Yatirim Ortakligi AS is engaged in developing living centers, including shopping malls, residences, offices, and hotels, with a focus on people and their lives. Its objective is to invest in retail, residential, entertainment, and office real estate development projects. The group operates in all phases of project development and management, including fundraising, land acquisition, project financing, permitting, design, construction supervision, sales, and marketing. It also undertakes post-project activities such as tenant mix and rent management, rent restructuring, renovation and expansion work, and other activities aimed at maximizing visitor traffic, occupancy rates, and rental income in shopping malls.
87GF Score

Get the complete analysis for IST:TRGYO

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

₺97.30
Price
₺79.58
GF Value