Turk Hava Yollari AO (IST:THYAO) Shiller PE Ratio: (As of Sep. 08, 2026)

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:THYAO Turk Hava Yollari AO IST:THYAO
77 GF Score
Price ₺296.75
GF Value ₺481.36
Valuation Possible Value Trap
! 5 Warning Signs
View Full Analysis

What is Turk Hava Yollari AO Shiller PE Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Turk Hava Yollari AO  (IST:THYAO) Shiller PE Ratio Explanation

Compared with the regular PE Ratio, which works poorly for cyclical businesses, the Shiller PE Ratio smoothed out the fluctuations of profit margins during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Shiller PE Ratio should give similar results to regular PE Ratio.

Compared with the PS Ratio, the Shiller PE Ratio makes the comparison between different industries more meaningful.


Be Aware

Shiller PE Ratio assumes that over the long term, businesses and profitability revert to their means. If a company's business model does not work in the future compared with the past, Shiller PE Ratio and PS Ratio will give false valuations.


Turk Hava Yollari AO Shiller PE Ratio Related Terms


Turk Hava Yollari AO Shiller PE Ratio Historical Data

* Premium members only.

The historical data trend for Turk Hava Yollari AO's Shiller PE Ratio 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 Shiller PE Ratio Chart

Turk Hava Yollari AO Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Shiller PE Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Turk Hava Yollari AO Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Shiller PE Ratio 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 0.00 127.94 0.00 0.00 0.00

IST:THYAO vs DAL, UAL, LUV: Shiller PE Ratio Comparison

For the Airlines subindustry, Turk Hava Yollari AO's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio 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 Shiller PE Ratio vs Transportation Industry

For the Transportation industry and Industrials sector, Turk Hava Yollari AO's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Turk Hava Yollari AO's Shiller PE Ratio falls into.


IST:THYAO
77GF Score
Turk Hava Yollari AO IST:THYAO
Shiller PE Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Turk Hava Yollari AO Shiller PE Ratio Calculation

For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller PE Ratio is also called PE10.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Turk Hava Yollari AO's E10 for the quarter that ended in Jun. 2026 is calculated as:

For example, Turk Hava Yollari AO's adjusted earnings per share data for the three months ended in Jun. 2026 was:

Adj_EPS=Earnings per Share (Diluted)/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=6.471/333.9520*333.9520
=6.471

Current CPI (Jun. 2026) = 333.9520.

Turk Hava Yollari AO Quarterly Data

Earnings per Share (Diluted) CPI Adj_EPS
201609 0.395 241.428 0.546
201612 1.103 241.432 1.526
201703 -0.991 243.801 -1.357
201706 -0.141 244.955 -0.192
201709 1.772 246.819 2.398
201712 -0.265 246.524 -0.359
201803 -0.226 249.554 -0.302
201806 0.323 251.989 0.428
201809 3.299 252.439 4.364
201812 0.021 251.233 0.028
201903 -0.928 254.202 -1.219
201906 0.116 256.143 0.151
201909 2.684 256.759 3.491
201912 1.305 256.974 1.696
202003 -1.521 258.115 -1.968
202006 -163.591 257.797 -211.917
202009 -0.753 260.280 -0.966
202012 -0.308 260.474 -0.395
202103 0.307 264.877 0.387
202106 -0.345 271.696 -0.424
202109 4.529 274.310 5.514
202112 -1.121 278.802 -1.343
202203 1.754 287.504 2.037
202206 7.137 296.311 8.044
202209 20.145 296.808 22.666
202212 3.897 296.797 4.385
202303 3.230 301.836 3.574
202306 10.900 305.109 11.930
202309 37.529 307.789 40.719
202312 68.043 306.746 74.078
202403 5.122 312.332 5.477
202406 22.118 314.175 23.510
202409 38.090 315.301 40.343
202412 -68.018 315.605 -71.972
202503 -1.113 319.799 -1.162
202506 19.690 322.561 20.385
202509 41.282 324.800 42.445
202512 -61.790 324.054 -63.677
202603 7.063 330.213 7.143
202606 6.471 333.952 6.471

Add all the adjusted EPS together and divide 10 will get our E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

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 ₺296.75 is trading 38.4% below its estimated GF Value™ of ₺481.36. GuruFocus considers Turk Hava Yollari AO to be Possible Value Trap.

Key valuation signals for IST:THYAO:

  • Shiller PE Ratio:
  • GF Value™: ₺481.36 vs. price of ₺296.75 (38.4% below fair value)
  • GF Score™: 77/100 with 5 warning signs

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 Business Description

Other Exchanges TKHVY:USATU5A:Germany
Address Havaalani Cad. No: 3/1, Genel Yonetim Binasi, 9th Floor, Yesilkoy, Bakirkoy, Istanbul, TUR, 34149
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.
77GF Score

Get the complete analysis for IST:THYAO

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

₺296.75
Price
₺481.36
GF Value