Torunlar Gayrimenkul Yatirim Ortakligi AS (IST:TRGYO) ROE %: 11.30% (As of Jun. 2026) — 22% 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
88 GF Score
Price ₺93.40
GF Value ₺93.14
Valuation Fairly Valued
! 4 Warning Signs
View Full Analysis

What is Torunlar Gayrimenkul Yatirim Ortakligi AS ROE %?

Torunlar Gayrimenkul Yatirim Ortakligi AS IST:TRGYO -0.69% 88 ROE % is 11.30% as of Jun. 2026, which is 22% below its 10-year median of 14.58. GuruFocus rates IST:TRGYO with a GF Score™ of 88/100 and a GF Value™ of ₺93.14 (Fairly Valued). The stock has 4 warning signs investors should review. Among 920 REITs companies, Torunlar Gayrimenkul Yatirim Ortakligi AS ranks better than 54.46% on this metric.

ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Torunlar Gayrimenkul Yatirim Ortakligi AS's annualized net income for the quarter that ended in Jun. 2026 was ₺16,947 Mil. Torunlar Gayrimenkul Yatirim Ortakligi AS's average Total Stockholders Equity over the quarter that ended in Jun. 2026 was ₺149,943 Mil. Therefore, Torunlar Gayrimenkul Yatirim Ortakligi AS's annualized ROE % for the quarter that ended in Jun. 2026 was 11.30%.

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

IST:TRGYO' s ROE % Range Over the Past 10 Years
Min: 3.4   Med: 14.58   Max: 45.57
Current: 6.73

During the past 13 years, Torunlar Gayrimenkul Yatirim Ortakligi AS's highest ROE % was 45.57%. The lowest was 3.40%. And the median was 14.58%.

IST:TRGYO's ROE % is ranked better than
54.46% of 920 companies
in the REITs industry
Industry Median: 6.105 vs IST:TRGYO: 6.73

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

ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.

The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:

ROE %(Q: Jun. 2026 )
=Net Income/Total Stockholders Equity
=16946.968/149942.651
=(Net Income / Revenue )*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(16946.968 / 20688.536)*(20688.536 / 192458.9405)*(192458.9405 / 149942.651)
=Net Margin %*Asset Turnover*Equity Multiplier
=81.91 %*0.1075*1.2836
=ROA %*Equity Multiplier
=8.81 %*1.2836
=11.30 %

With this breakdown, it is clear that if a company grows its Net Profit Margin, its Asset Turnover, or its Leverage, it can grow its ROE %.

The factors that affect a company's ROE % can also be illustrated with the five-step DuPont Analysis:

ROE %(Q: Jun. 2026 )
=Net Income/Total Stockholders Equity
=16946.968/149942.651
=(Net Income / Pre-Tax Income) * (Pre-Tax Income / Operating Income) * (Operating Income / Revenue) * (Revenue / Total Assets) * (Total Assets / Total Stockholders Equity)
= (16946.968 / 23697.408) * (23697.408 / 13583.284) * (13583.284 / 20688.536) * (20688.536 / 192458.9405) * (192458.9405 / 149942.651)
= Tax Burden * Interest Burden * Operating Margin % * Asset Turnover * Equity Multiplier
= 0.7151 * 1.7446 * 65.66 % * 0.1075 * 1.2836
=11.30 %

Note: The net income data used here is four times the quarterly (Jun. 2026) net income data. The Revenue data used here is four times the quarterly (Jun. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.

* 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.


Be Aware

Net Income is used.

Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % 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 ROE %s can be extremely high.


Torunlar Gayrimenkul Yatirim Ortakligi AS ROE % Related Terms


Torunlar Gayrimenkul Yatirim Ortakligi AS ROE % Historical Data

* Premium members only.

The historical data trend for Torunlar Gayrimenkul Yatirim Ortakligi AS's ROE % 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 ROE % Chart

Torunlar Gayrimenkul Yatirim Ortakligi AS Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 45.57 44.38 22.32 9.73 6.00

Torunlar Gayrimenkul Yatirim Ortakligi AS Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
ROE % 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 16.51 7.10 3.23 4.72 11.30

IST:TRGYO vs VICI, WPC: ROE % Comparison

For the REIT - Diversified subindustry, Torunlar Gayrimenkul Yatirim Ortakligi AS's ROE %, along with its competitors' market caps and ROE % 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 ROE % vs REITs Industry

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

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


IST:TRGYO
88GF Score
Torunlar Gayrimenkul Yatirim Ortakligi AS IST:TRGYO
ROE % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Torunlar Gayrimenkul Yatirim Ortakligi AS ROE % Calculation

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

ROE %=Net Income (A: Dec. 2025 )/( (Total Stockholders Equity (A: Dec. 2024 )+Total Stockholders Equity (A: Dec. 2025 ))/ count )
=7729.931/( (127277.811+130570.779)/ 2 )
=7729.931/128924.295
=6.00 %

Torunlar Gayrimenkul Yatirim Ortakligi AS's annualized ROE % for the quarter that ended in Jun. 2026 is calculated as

ROE %=Net Income (Q: Jun. 2026 )/( (Total Stockholders Equity (Q: Mar. 2026 )+Total Stockholders Equity (Q: Jun. 2026 ))/ count )
=16946.968/( (145309.566+154575.736)/ 2 )
=16946.968/149942.651
=11.30 %

* 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 ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data, the net income data used here is four times the quarterly (Jun. 2026) net income data. ROE % is displayed in the 30-year financial page.

Frequently Asked Questions Learn more about ROE % →
What does a ROE % of 11.30% mean?
Torunlar Gayrimenkul Yatirim Ortakligi AS (IST:TRGYO) has a ROE % of 11.30% as of Jun. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Torunlar Gayrimenkul Yatirim Ortakligi AS and its competitors. This is 22% below median its historical median of 14.58. Over the past decade, Torunlar Gayrimenkul Yatirim Ortakligi AS's ROE % has ranged from 3.40 to 45.57. According to the industry distribution chart, Torunlar Gayrimenkul Yatirim Ortakligi AS ranks #419 out of 920 companies in the REITs industry, placing it in the top 45.5%.
Is Torunlar Gayrimenkul Yatirim Ortakligi AS's ROE % too high?
Torunlar Gayrimenkul Yatirim Ortakligi AS's current ROE % of 11.30% is 22% below median its 10-year median of 14.58. Over the past 10 years, this metric has ranged from a low of 3.40 to a high of 45.57. The REITs industry median ROE % is 6.11. Torunlar Gayrimenkul Yatirim Ortakligi AS's value of 11.30% is 85.1% above this industry median. Based on the distribution chart, Torunlar Gayrimenkul Yatirim Ortakligi AS ranks #419 out of 920 companies in the REITs industry, which is above the industry midpoint. Overall, Torunlar Gayrimenkul Yatirim Ortakligi AS has a GF Score™ of 88/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Torunlar Gayrimenkul Yatirim Ortakligi AS's ROE % compare to VICI and WPC?
According to the REITs industry distribution chart, Torunlar Gayrimenkul Yatirim Ortakligi AS ranks #419 out of 920 companies for ROE %. This puts Torunlar Gayrimenkul Yatirim Ortakligi AS in the upper half of its industry. The industry median ROE % is 6.11. Torunlar Gayrimenkul Yatirim Ortakligi AS's value of 11.30% is 85.1% above this benchmark. Historically, Torunlar Gayrimenkul Yatirim Ortakligi AS's own ROE % has ranged from 3.40 to 45.57 over the past decade. While the company's 10-year median is 14.58 vs. the industry median of 6.11, 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 ROE % for a REITs company?
The median ROE % among REITs companies is 6.11, based on 920 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Torunlar Gayrimenkul Yatirim Ortakligi AS's current ROE % of 11.30% is 85.1% 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Torunlar Gayrimenkul Yatirim Ortakligi AS and its competitors. For the REITs industry, the median ROE % is 6.11 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Torunlar Gayrimenkul Yatirim Ortakligi AS's current ROE % is 11.30%, which is 22% below median its own 10-year median of 14.58. 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 Fairly Valued. The stock's GF Value™ is ₺93.14, compared to a current price of ₺93.40 — trading 0.3% above its estimated fair value. The current ROE % is 11.30%, which is 22% below median its 10-year median of 14.58 and 85.1% above the REITs industry median of 6.11. Torunlar Gayrimenkul Yatirim Ortakligi AS's overall GF Score™ is 88/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Torunlar Gayrimenkul Yatirim Ortakligi AS (IST:TRGYO), the current ROE % is 11.30% as of Jun. 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 ₺93.40 is trading 0.3% above its estimated GF Value™ of ₺93.14. GuruFocus considers Torunlar Gayrimenkul Yatirim Ortakligi AS to be Fairly Valued.

Key valuation signals for IST:TRGYO:

  • ROE %: 11.30% (22% below median its 10-year median of 14.58)
  • GF Value™: ₺93.14 vs. price of ₺93.40 (0.3% above fair value)
  • GF Score™: 88/100 with 4 warning signs
  • Industry Position: 85.1% above the REITs median (#419 of 920)

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.
88GF Score

Get the complete analysis for IST:TRGYO

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

₺93.40
Price
₺93.14
GF Value