Merit Turizm Yatirim ve Isletme AS (IST:MERIT) Scaled Net Operating Assets: 1.10 (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 Scaled Net Operating Assets?

Merit Turizm Yatirim ve Isletme AS IST:MERIT +3.15% 78 Scaled Net Operating Assets is 1.10 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.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Merit Turizm Yatirim ve Isletme AS's operating assets for the quarter that ended in Mar. 2026 was ₺19,067.2 Mil. Merit Turizm Yatirim ve Isletme AS's operating liabilities for the quarter that ended in Mar. 2026 was ₺29.5 Mil. Merit Turizm Yatirim ve Isletme AS's Total Assets for the quarter that ended in Dec. 2025 was ₺17,344.3 Mil. Therefore, Merit Turizm Yatirim ve Isletme AS's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 1.10.


Merit Turizm Yatirim ve Isletme AS Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Merit Turizm Yatirim ve Isletme AS's Scaled Net Operating Assets 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 Scaled Net Operating Assets Chart

Merit Turizm Yatirim ve Isletme AS Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 18.23 2.62 2.24 2.03 1.35

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
Scaled Net Operating Assets 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 0.84 1.05 1.36 1.10 1.10

IST:MERIT vs LVS, MGM, WYNN: Scaled Net Operating Assets Comparison

For the Resorts & Casinos subindustry, Merit Turizm Yatirim ve Isletme AS's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets 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 Scaled Net Operating Assets vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Merit Turizm Yatirim ve Isletme AS's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Merit Turizm Yatirim ve Isletme AS's Scaled Net Operating Assets falls into.


IST:MERIT
78GF Score
Merit Turizm Yatirim ve Isletme AS IST:MERIT
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Merit Turizm Yatirim ve Isletme AS Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Merit Turizm Yatirim ve Isletme AS's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(17337.844-63.799)/12834.158
=1.35

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=17344.343 - 6.499
=17337.844

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=63.799 - 0 - 0
=63.799

Merit Turizm Yatirim ve Isletme AS's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(19067.242-29.499)/17344.343
=1.10

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=19072.968 - 5.726
=19067.242

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=29.499 - 0 - 0
=29.499

* 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.

What does a Scaled Net Operating Assets of 1.10 mean?
Merit Turizm Yatirim ve Isletme AS (IST:MERIT) has a Scaled Net Operating Assets of 1.10 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Merit Turizm Yatirim ve Isletme AS and its competitors.
Is Merit Turizm Yatirim ve Isletme AS's Scaled Net Operating Assets too high?
Merit Turizm Yatirim ve Isletme AS's current Scaled Net Operating Assets is 1.10. 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 Scaled Net Operating Assets compare to LVS and MGM?
Merit Turizm Yatirim ve Isletme AS's Scaled Net Operating Assets of 1.10 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 Scaled Net Operating Assets for a Travel & Leisure company?
A good Scaled Net Operating Assets depends on the Travel & Leisure industry context. However, Scaled Net Operating Assets 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 Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Merit Turizm Yatirim ve Isletme AS and its competitors. Merit Turizm Yatirim ve Isletme AS's current Scaled Net Operating Assets is 1.10. 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 Scaled Net Operating Assets is 1.10. 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 Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Merit Turizm Yatirim ve Isletme AS (IST:MERIT), the current Scaled Net Operating Assets is 1.10 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:

  • Scaled Net Operating Assets: 1.10
  • 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

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

₺18.00
Price
₺22.07
GF Value