Turk Hava Yollari AOIST:THYAO +1.45%86 Return-on-Tangible-Equity is 4.32% as of Mar. 2026, which is 70% below its 10-year median of 14.25. GuruFocus rates IST:THYAO with a GF Score™ of 86/100 and a GF Value™ of ₺470.33 (Modestly Undervalued). The stock has 8 warning signs investors should review. Among 974 Transportation companies, Turk Hava Yollari AO ranks better than 71.97% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Turk Hava Yollari AO's annualized net income for the quarter that ended in Mar. 2026 was ₺40,082 Mil. Turk Hava Yollari AO's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ₺927,054 Mil. Therefore, Turk Hava Yollari AO's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 4.32%.
The historical rank and industry rank for Turk Hava Yollari AO's Return-on-Tangible-Equity or its related term are showing as below:
IST:THYAO'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -16.06 Med: 14.25 Max: 55.74
Current: 15.97
During the past 13 years, Turk Hava Yollari AO's highest Return-on-Tangible-Equity was 55.74%. The lowest was -16.06%. And the median was 14.25%.
IST:THYAO's Return-on-Tangible-Equity is ranked better than 71.97% of 974
companies
in the Transportation industry
Industry Median: 8.985
vs IST:THYAO: 15.97
Turk Hava Yollari AO (IST:THYAO) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Turk Hava Yollari AO Return-on-Tangible-Equity Related Terms
Turk Hava Yollari AO Return-on-Tangible-Equity Historical Data
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The historical data trend for Turk Hava Yollari AO's Return-on-Tangible-Equity 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.
Turk Hava Yollari AO Return-on-Tangible-Equity Chart
IST:THYAO vs DAL, UAL, LUV: Return-on-Tangible-Equity Comparison
For the Airlines subindustry, Turk Hava Yollari AO's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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.
Turk Hava Yollari AO Return-on-Tangible-Equity vs Transportation Industry
For the Transportation industry and Industrials sector, Turk Hava Yollari AO's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Turk Hava Yollari AO's Return-on-Tangible-Equity falls into.
* 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 4.32% mean?
Turk Hava Yollari AO (IST:THYAO) has a Return-on-Tangible-Equity of 4.32% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Turk Hava Yollari AO and its competitors. This is 70% below median its historical median of 14.25. According to the industry distribution chart, Turk Hava Yollari AO ranks #273 out of 974 companies in the Transportation industry, placing it in the top 28%.
Is Turk Hava Yollari AO's Return-on-Tangible-Equity too high?
Turk Hava Yollari AO's current Return-on-Tangible-Equity of 4.32% is 70% below median its 10-year median of 14.25. The Transportation industry median Return-on-Tangible-Equity is 8.99. Turk Hava Yollari AO's value of 4.32% is 51.9% below this industry median. Based on the distribution chart, Turk Hava Yollari AO ranks #273 out of 974 companies in the Transportation industry, which is above the industry midpoint. Overall, Turk Hava Yollari AO has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Turk Hava Yollari AO's Return-on-Tangible-Equity compare to DAL and UAL?
According to the Transportation industry distribution chart, Turk Hava Yollari AO ranks #273 out of 974 companies for Return-on-Tangible-Equity. This puts Turk Hava Yollari AO in the upper half of its industry. The industry median Return-on-Tangible-Equity is 8.99. Turk Hava Yollari AO's value of 4.32% is 51.9% below this benchmark. While the company's 10-year median is 14.25 vs. the industry median of 8.99, Turk Hava Yollari AO has consistently been below 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 Return-on-Tangible-Equity for a Transportation company?
The median Return-on-Tangible-Equity among Transportation companies is 8.99, based on 974 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Turk Hava Yollari AO's current Return-on-Tangible-Equity of 4.32% is 51.9% below 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Turk Hava Yollari AO and its competitors. For the Transportation industry, the median Return-on-Tangible-Equity is 8.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Turk Hava Yollari AO's current Return-on-Tangible-Equity is 4.32%, which is 70% below median its own 10-year median of 14.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Turk Hava Yollari AO stock overvalued right now?
Based on GuruFocus' analysis, Turk Hava Yollari AO (IST:THYAO) is currently considered Modestly Undervalued. The stock's GF Value™ is ₺470.33, compared to a current price of ₺333.25 — trading 29.1% below its estimated fair value. The current Return-on-Tangible-Equity is 4.32%, which is 70% below median its 10-year median of 14.25 and 51.9% below the Transportation industry median of 8.99. Turk Hava Yollari AO's overall GF Score™ is 86/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Turk Hava Yollari AO (IST:THYAO), the current Return-on-Tangible-Equity is 4.32% 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 Turk Hava Yollari AO (IST:THYAO) Overvalued in 2026?
Based on GuruFocus' analysis, Turk Hava Yollari AO stock appears to be undervalued.
The current stock price of ₺333.25 is trading 29.1% below its estimated GF Value™ of ₺470.33.
GuruFocus considers Turk Hava Yollari AO to be Modestly Undervalued.
Key valuation signals for IST:THYAO:
Return-on-Tangible-Equity: 4.32% (70% below median its 10-year median of 14.25)
GF Value™: ₺470.33 vs. price of ₺333.25 (29.1% below fair value)
Industry Position: 51.9% below the Transportation median (#273 of 974)
No single metric tells the full story. See the IST:THYAO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Turk Hava Yollari AO is a Turkish airline operator. It has flight networks across the globe, 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.
86GF Score
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