Türk Hava Yollari Anonim Ortakligi (THYAO.IS) stock analysis

In our weekly check, Türk Hava Yollari Anonim Ortakligi is graded B (A to F). Of 25 checks on debt, profit, cash flow and trend: 18 pass, warnings: 4, red flags: 3.

About Türk Hava Yollari Anonim Ortakligi

Türk Hava Yollari Anonim Ortakligi is an Industrials company (Airlines, Airports & Air Services), listed on IST as THYAO.IS.

What our checks show for THYAO.IS

Red flags

• The gross margin fell by 10.2 points, to 12.5%: costs are rising faster than prices.
• The stock has fallen as much as 64% from a peak. Would you have held through that?
• Return on capital (ROCE) is only 3.7%.

Warning signs

• Net debt is 4.2x a year of EBITDA (debt/equity 0.9). That limits room in a downturn and raises refinancing risk.
• Operating profit covers interest only 2.5 times: a weak year could make the payments hard.
• Analysts expect earnings per share to shrink about 2.3% a year.
• Analysts expect the net margin to shrink by 2 points from today's 10.2%.

Strengths

• The net margin rose by 1.8 points over 5 years, to 10.2%.
• Operating cash flow is 1.66x net profit: the profit arrives as real cash.
• Revenue grew 15.7% a year over the last 3 years.
• The dividend takes 4% of profit: there is a cushion.
• The price is 2.5 times earnings (P/E), reasonable for its growth.
• Beta -0.01: the stock usually moves less than the market.

Next earnings report: 2026-11-11

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Questions

What grade does Türk Hava Yollari Anonim Ortakligi (THYAO.IS) have?

In our weekly check, Türk Hava Yollari Anonim Ortakligi is graded B (A to F). Of 25 checks on debt, profit, cash flow and trend: 18 pass, warnings: 4, red flags: 3. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of THYAO.IS stock?

This week's biggest flags for Türk Hava Yollari Anonim Ortakligi: Gross margin falling, Deep past fall, Low return on capital. In total 7 of 25 checks show a warning or a red flag.

What does Türk Hava Yollari Anonim Ortakligi do?

Türk Hava Yollari Anonim Ortakligi is an Industrials company (Airlines, Airports & Air Services), listed on IST as THYAO.IS.

When does Türk Hava Yollari Anonim Ortakligi report earnings next?

The next earnings report is expected on 2026-11-11. We re-run the checks every week, so the grade can change after it.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-31

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