25 XP 0   0   10  
0coffee
Main menu
3rd party ad coffee SUPPORTERis ad-free.

Tofas Turk Otomobil Fabrikasi AS
Buy, Hold or Sell?

Let's analyze Tofas together

I guess you are interested in Tofas Turk Otomobil Fabrikasi AS. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of Tofas Turk Otomobil Fabrikasi AS. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

Get notifications about Tofas Turk Otomobil Fabrikasi AS

I send you an email if I find something interesting about Tofas Turk Otomobil Fabrikasi AS.

1. Quick Overview

1.1. Quick analysis of Tofas (30 sec.)










1.2. What can you expect buying and holding a share of Tofas? (30 sec.)

How much money do you get?

How much money do you get?
₺0.39
When do you have the money?
1 year
How often do you get paid?
72.5%

What is your share worth?

Current worth
₺79.94
Expected worth in 1 year
₺128.16
How sure are you?
87.5%

+ What do you gain per year?

Total Gains per Share
₺61.55
Return On Investment
33.1%

For what price can you sell your share?

Current Price per Share
₺186.00
Expected price per share
₺162.64 - ₺224.70
How sure are you?
50%
3rd party ad coffee SUPPORTERis ad-free.

2. Detailed Analysis

2.1. Valuation of Tofas (5 min.)




Live pricePrice per Share (EOD)
₺186.00
Intrinsic Value Per Share
₺227.27 - ₺270.11
Total Value Per Share
₺307.21 - ₺350.05

2.2. Growth of Tofas (5 min.)




Is Tofas growing?

Current yearPrevious yearGrowGrow %
How rich?$1.1b$336.8m$639.9m65.5%

How much money is Tofas making?

Current yearPrevious yearGrowGrow %
Making money$86.1m$96.6m-$10.4m-12.1%
Net Profit Margin9.0%14.1%--

How much money comes from the company's main activities?

2.3. Financial Health of Tofas (5 min.)




2.4. Comparing to competitors in the Auto Manufacturers industry (5 min.)




  Industry Rankings (Auto Manufacturers)  

3rd party ad coffee SUPPORTERis ad-free.

3. Summary and Key Metrics

3.1. What can you expect buying and holding a share of Tofas?

Welcome investor! Tofas's management wants to use your money to grow the business. In return you get a share of Tofas.

First you should know what it really means to hold a share of Tofas. And how you can make/lose money.

Speculation

The Price per Share of Tofas is ₺186.00. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

  • The fundamentals: the financial health trends of Tofas.
  • The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
  • The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Tofas, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

  • You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is ₺79.94. Based on the TTM, the Book Value Change Per Share is ₺12.06 per quarter. Based on the YOY, the Book Value Change Per Share is ₺5.10 per quarter.
  • You may receive quarterly/yearly dividend in the form of additional shares.
  • You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is ₺3.33 per quarter.
Based on historical numbers we can estimate the returns while holding a share of Tofas.

How much money are you going to get?

 MRQTTMYOY5Y10Y
 % of Price per Share% of Price per Share% of Price per Share% of Price per Share% of Price per Share
Usd Eps0.080.0%0.170.1%0.190.1%0.100.1%0.060.0%
Usd Book Value Change Per Share0.250.1%0.350.2%0.150.1%0.110.1%0.060.0%
Usd Dividend Per Share0.000.0%0.100.1%0.090.0%0.070.0%0.050.0%
Usd Total Gains Per Share0.250.1%0.450.2%0.240.1%0.180.1%0.100.1%
Usd Price Per Share9.93-8.19-5.08-3.35-2.00-
Price to Earnings Ratio33.02-15.66-6.60-8.88-9.71-
Price-to-Total Gains Ratio40.19--15.31-23.82-81.84-45.03-
Price to Book Ratio4.25-4.48-7.38-5.13-4.52-
Price-to-Total Gains Ratio40.19--15.31-23.82-81.84-45.03-

When do you get the money?

Usd Investment
$.00
Usd Price Per Share5.4312
Number of shares184
Gains per QuarterTrailing 12 Months5 Year
Usd Dividend Per Share0.100.07
Usd Book Value Change Per Share0.350.11
Usd Total Gains Per Share0.450.18
Gains per Quarter (184 shares)82.6833.01
Gains per Year (184 shares)330.71132.05
YearsReturn on Investment (TTM)Return on Investment (5Y)
 DividendBook Value gainTotal gainsDividendBook Value gainTotal gains
Broker costs---10---10
1722593215478122
2143518652107157254
3215777983161235386
428610361314215313518
535812961645269392650
643015551976322470782
750118142307376548914
8573207326384306271046
9645233229694837051178
10716259133005377841310

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %
 Trailing 12 Months3Y5 Year10 YearALLTIME
  % % % % %
Earnings Per Share4.00.00.0100.0%12.00.00.0100.0%20.00.00.0100.0%40.00.00.0100.0%80.00.02.097.6%
Book Value Change Per Share3.01.00.075.0%9.03.00.075.0%15.05.00.075.0%29.011.00.072.5%61.021.00.074.4%
Dividend per Share2.00.02.050.0%7.00.05.058.3%13.00.07.065.0%29.00.011.072.5%58.00.024.070.7%
Total Gains per Share3.01.00.075.0%11.01.00.091.7%18.02.00.090.0%35.05.00.087.5%70.012.00.085.4%
3rd party ad coffee SUPPORTERis ad-free.

3.2. Key Performance Indicators

The key performance indicators of Tofas Turk Otomobil Fabrikasi AS compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-5 Year+/-10 Year+/-
Book Value Change Per Share--8.45912.056-30%5.105+66%3.646+132%1.904+344%
Book Value Per Share--79.94066.910+19%23.075+246%23.101+246%14.367+456%
Current Ratio--1.5611.543+1%1.267+23%1.252+25%0.873+79%
Debt To Asset Ratio--0.5490.584-6%0.728-25%0.720-24%0.732-25%
Debt To Equity Ratio--1.2161.431-15%2.725-55%2.894-58%2.918-58%
Dividend Per Share---3.332-100%3.000-100%2.499-100%1.678-100%
Eps--2.5745.902-56%6.618-61%3.386-24%1.965+31%
Free Cash Flow Per Share--3.154-6.397+303%9.072-65%1.399+125%1.399+125%
Free Cash Flow To Equity Per Share--3.154-6.397+303%8.200-62%0.525+500%0.525+500%
Gross Profit Margin--1.0001.0000%1.0000%1.0000%1.0000%
Intrinsic Value_10Y_max--270.106--------
Intrinsic Value_10Y_min--227.266--------
Intrinsic Value_1Y_max--11.188--------
Intrinsic Value_1Y_min--10.980--------
Intrinsic Value_3Y_max--45.718--------
Intrinsic Value_3Y_min--43.402--------
Intrinsic Value_5Y_max--94.836--------
Intrinsic Value_5Y_min--86.983--------
Market Cap93000000000.000-83%170000000000.000140312500000.000+21%87050000000.000+95%57392500000.000+196%34178916578.400+397%
Net Profit Margin--0.0500.090-45%0.141-65%0.101-51%0.087-43%
Operating Margin----0%0.074-100%0.093-100%0.069-100%
Operating Ratio--1.8141.741+4%1.664+9%1.719+6%1.485+22%
Pb Ratio2.327-83%4.2534.484-5%7.376-42%5.126-17%4.522-6%
Pe Ratio18.063-83%33.01815.659+111%6.597+401%8.881+272%9.712+240%
Price Per Share186.000-83%340.000280.625+21%174.100+95%114.785+196%68.356+397%
Price To Free Cash Flow Ratio14.742-83%26.9471.239+2075%4.868+454%0.890+2927%0.445+5955%
Price To Total Gains Ratio21.988-83%40.193-15.315+138%23.817+69%81.838-51%45.035-11%
Quick Ratio--0.4970.482+3%0.493+1%0.475+5%0.467+6%
Return On Assets--0.0150.041-65%0.077-81%0.045-68%0.035-58%
Return On Equity--0.0320.105-69%0.282-89%0.177-82%0.136-76%
Total Gains Per Share--8.45915.388-45%8.105+4%6.145+38%3.581+136%
Usd Book Value--1167127387.200976891533.400+19%336898109.800+246%337281840.140+246%209759358.510+456%
Usd Book Value Change Per Share--0.2470.352-30%0.149+66%0.106+132%0.056+344%
Usd Book Value Per Share--2.3341.954+19%0.674+246%0.675+246%0.420+456%
Usd Dividend Per Share---0.097-100%0.088-100%0.073-100%0.049-100%
Usd Eps--0.0750.172-56%0.193-61%0.099-24%0.057+31%
Usd Free Cash Flow--46052955.200-93393907.800+303%132445819.900-65%18385292.360+150%9192646.180+401%
Usd Free Cash Flow Per Share--0.092-0.187+303%0.265-65%0.041+125%0.041+125%
Usd Free Cash Flow To Equity Per Share--0.092-0.187+303%0.239-62%0.015+500%0.015+500%
Usd Market Cap2715600000.000-83%4964000000.0004097125000.000+21%2541860000.000+95%1675861000.000+196%998024364.089+397%
Usd Price Per Share5.431-83%9.9288.194+21%5.084+95%3.352+196%1.996+397%
Usd Profit--37585802.00086168105.000-56%96616923.500-61%49433258.160-24%28685345.620+31%
Usd Revenue--756017375.2001081659308.400-30%708132419.300+7%490765242.420+54%300378369.140+152%
Usd Total Gains Per Share--0.2470.449-45%0.237+4%0.179+38%0.105+136%
 EOD+4 -4MRQTTM+17 -17YOY+17 -185Y+21 -1410Y+24 -11

3.3 Fundamental Score

Let's check the fundamental score of Tofas Turk Otomobil Fabrikasi AS based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-1518.063
Price to Book Ratio (EOD)Between0-12.327
Net Profit Margin (MRQ)Greater than00.050
Operating Margin (MRQ)Greater than00.000
Quick Ratio (MRQ)Greater than10.497
Current Ratio (MRQ)Greater than11.561
Debt to Asset Ratio (MRQ)Less than10.549
Debt to Equity Ratio (MRQ)Less than11.216
Return on Equity (MRQ)Greater than0.150.032
Return on Assets (MRQ)Greater than0.050.015
Total3/10 (30.0%)

3.4 Technical Score

Let's check the technical score of Tofas Turk Otomobil Fabrikasi AS based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5038.167
Ma 20Greater thanMa 50192.725
Ma 50Greater thanMa 100210.880
Ma 100Greater thanMa 200251.396
OpenGreater thanClose188.400
Total1/5 (20.0%)

4. In-depth Analysis

4.1 About Tofas Turk Otomobil Fabrikasi AS

Tofas Türk Otomobil Fabrikasi Anonim Sirketi manufactures and sells passenger cars and light commercial vehicles in Turkey. It also produces various automotive spare parts, as well as trades in automobile and spare parts; and provides consumer financing and insurance services. The company offers its products under the Fiat, Fiat Professional, Alfa Romeo, Jeep, Maserati, and Ferrari, as well as Opar and Magneti Marelli brands. It also exports its products. Tofas Türk Otomobil Fabrikasi Anonim Sirketi was incorporated in 1968 and is headquartered in Istanbul, Turkey.

Fundamental data was last updated by Penke on 2024-10-17 07:33:04.

4.2 In-depth Summary

4.2.1. Financial Health Summary

Profitability Details
 Compared to previous yearCompared to industry
The company is making a profit.
Using its assets, the company is less efficient in making profit.
Using its investors money, the company is less efficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is inefficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is able to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.
Solvency Details
 Compared to previous yearCompared to industry
The company is able to pay all its debts by selling its assets.
The company is able to pay all its debts with equity.

4.2.2. Valuation Summary

Valuation Details
 Compared to previous yearCompared to industry
Based on the equity, the company is fair priced.
Based on the earnings, the company is fair priced.
Based on how much money comes from the company's main activities, the company is cheap.
3rd party ad coffee SUPPORTERis ad-free.

4.3 Financial Health

4.3.1. Profitability

4.3.1 Profitability
4.3.1.1. Net Profit Margin

Measures how much net profit Tofas earns for each ₤1 of revenue.

  • Above 10% is considered healthy but always compare Tofas to the Auto Manufacturers industry mean.
  • A Net Profit Margin of 5.0% means that ₤0.05 for each ₤1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Tofas Turk Otomobil Fabrikasi AS:

  • The MRQ is 5.0%. The company is making a profit. +1
  • The TTM is 9.0%. The company is making a profit. +1
Trends
Current periodCompared to+/- 
MRQ5.0%TTM9.0%-4.0%
TTM9.0%YOY14.1%-5.1%
TTM9.0%5Y10.1%-1.1%
5Y10.1%10Y8.7%+1.4%
Compared to industry (Auto Manufacturers)
PeriodCompanyIndustry (mean)+/- 
MRQ5.0%4.2%+0.8%
TTM9.0%4.5%+4.5%
YOY14.1%3.8%+10.3%
5Y10.1%2.9%+7.2%
10Y8.7%3.1%+5.6%
4.3.1.2. Return on Assets

Shows how efficient Tofas is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Tofas to the Auto Manufacturers industry mean.
  • 1.5% Return on Assets means that Tofas generated ₤0.01 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Tofas Turk Otomobil Fabrikasi AS:

  • The MRQ is 1.5%. Using its assets, the company is less efficient in making profit.
  • The TTM is 4.1%. Using its assets, the company is less efficient in making profit.
Trends
Current periodCompared to+/- 
MRQ1.5%TTM4.1%-2.7%
TTM4.1%YOY7.7%-3.6%
TTM4.1%5Y4.5%-0.4%
5Y4.5%10Y3.5%+1.1%
Compared to industry (Auto Manufacturers)
PeriodCompanyIndustry (mean)+/- 
MRQ1.5%1.0%+0.5%
TTM4.1%1.0%+3.1%
YOY7.7%0.9%+6.8%
5Y4.5%0.7%+3.8%
10Y3.5%0.6%+2.9%
4.3.1.3. Return on Equity

Shows how efficient Tofas is using its investors money to generate profit.

  • Above 15%-20% is considered healthy but always compare Tofas to the Auto Manufacturers industry mean.
  • 3.2% Return on Equity means Tofas generated ₤0.03 for each ₤1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Tofas Turk Otomobil Fabrikasi AS:

  • The MRQ is 3.2%. Using its investors money, the company is inefficient in making profit. -1
  • The TTM is 10.5%. Using its investors money, the company is less efficient in making profit.
Trends
Current periodCompared to+/- 
MRQ3.2%TTM10.5%-7.3%
TTM10.5%YOY28.2%-17.7%
TTM10.5%5Y17.7%-7.2%
5Y17.7%10Y13.6%+4.1%
Compared to industry (Auto Manufacturers)
PeriodCompanyIndustry (mean)+/- 
MRQ3.2%2.4%+0.8%
TTM10.5%2.9%+7.6%
YOY28.2%2.6%+25.6%
5Y17.7%2.1%+15.6%
10Y13.6%2.1%+11.5%
3rd party ad coffee SUPPORTERis ad-free.

4.3.2. Operating Efficiency of Tofas Turk Otomobil Fabrikasi AS.

4.3.2. Operating Efficiency
4.3.2.1. Operating Margin

Measures how efficient Tofas is operating .

  • Measures how much profit Tofas makes for each ₤1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
  • Above 15% is considered healthy but always compare Tofas to the Auto Manufacturers industry mean.
  • An Operating Margin of 0.0% means the company generated ₤0.00  for each ₤1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Tofas Turk Otomobil Fabrikasi AS:

  • The MRQ is 0.0%. The data is not here.
Trends
Current periodCompared to+/- 
MRQ-TTM-0.0%
TTM-YOY7.4%-7.4%
TTM-5Y9.3%-9.3%
5Y9.3%10Y6.9%+2.4%
Compared to industry (Auto Manufacturers)
PeriodCompanyIndustry (mean)+/- 
MRQ-6.6%-6.6%
TTM-4.0%-4.0%
YOY7.4%4.7%+2.7%
5Y9.3%3.6%+5.7%
10Y6.9%4.3%+2.6%
4.3.2.2. Operating Ratio

Measures how efficient Tofas is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Auto Manufacturers industry mean).
  • An Operation Ratio of 1.81 means that the operating costs are ₤1.81 for each ₤1 in net sales.

Let's take a look of the Operating Ratio trends of Tofas Turk Otomobil Fabrikasi AS:

  • The MRQ is 1.814. The company is inefficient in keeping operating costs low. -1
  • The TTM is 1.741. The company is inefficient in keeping operating costs low. -1
Trends
Current periodCompared to+/- 
MRQ1.814TTM1.741+0.073
TTM1.741YOY1.664+0.077
TTM1.7415Y1.719+0.022
5Y1.71910Y1.485+0.234
Compared to industry (Auto Manufacturers)
PeriodCompanyIndustry (mean)+/- 
MRQ1.8141.391+0.423
TTM1.7411.356+0.385
YOY1.6641.244+0.420
5Y1.7191.368+0.351
10Y1.4851.207+0.278
3rd party ad coffee SUPPORTERis ad-free.

4.4.3. Liquidity of Tofas Turk Otomobil Fabrikasi AS.

4.4.3. Liquidity
4.4.3.1. Current Ratio

Measures if Tofas is able to pay off Short-term Debt.

  • Above 1.5 is considered healthy (always compare to Auto Manufacturers industry mean).
  • A Current Ratio of 1.56 means the company has ₤1.56 in assets for each ₤1 in short-term debts.

Let's take a look of the Current Ratio trends of Tofas Turk Otomobil Fabrikasi AS:

  • The MRQ is 1.561. The company is able to pay all its short-term debts. +1
  • The TTM is 1.543. The company is able to pay all its short-term debts. +1
Trends
Current periodCompared to+/- 
MRQ1.561TTM1.543+0.017
TTM1.543YOY1.267+0.277
TTM1.5435Y1.252+0.292
5Y1.25210Y0.873+0.378
Compared to industry (Auto Manufacturers)
PeriodCompanyIndustry (mean)+/- 
MRQ1.5611.193+0.368
TTM1.5431.179+0.364
YOY1.2671.202+0.065
5Y1.2521.228+0.024
10Y0.8731.199-0.326
4.4.3.2. Quick Ratio

Measures if Tofas is able to pay off Short-term Debt but only using the most liquid assets.

  • Above 1 is considered healthy but always compare Tofas to the Auto Manufacturers industry mean.
  • A Quick Ratio of 0.50 means the company can pay off ₤0.50 for each ₤1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Tofas Turk Otomobil Fabrikasi AS:

  • The MRQ is 0.497. The company is just not able to pay all its short-term debts with the most liquid assets. -1
  • The TTM is 0.482. The company is just not able to pay all its short-term debts with the most liquid assets. -1
Trends
Current periodCompared to+/- 
MRQ0.497TTM0.482+0.015
TTM0.482YOY0.493-0.012
TTM0.4825Y0.475+0.007
5Y0.47510Y0.467+0.008
Compared to industry (Auto Manufacturers)
PeriodCompanyIndustry (mean)+/- 
MRQ0.4970.589-0.092
TTM0.4820.646-0.164
YOY0.4930.749-0.256
5Y0.4750.846-0.371
10Y0.4670.834-0.367
3rd party ad coffee SUPPORTERis ad-free.

4.5.4. Solvency of Tofas Turk Otomobil Fabrikasi AS.

4.5.4. Solvency
4.5.4.1. Debt to Asset Ratio

Measures how much % of Tofas assets are financed with debt.

  • Below 1 (100%) is considered healthy but always compare Tofas to Auto Manufacturers industry mean.
  • A Debt to Asset Ratio of 0.55 means that Tofas assets are financed with 54.9% credit (debt) and the remaining percentage (100% - 54.9%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of Tofas Turk Otomobil Fabrikasi AS:

  • The MRQ is 0.549. The company is able to pay all its debts by selling its assets. +1
  • The TTM is 0.584. The company is able to pay all its debts by selling its assets. +1
Trends
Current periodCompared to+/- 
MRQ0.549TTM0.584-0.035
TTM0.584YOY0.728-0.144
TTM0.5845Y0.720-0.136
5Y0.72010Y0.732-0.012
Compared to industry (Auto Manufacturers)
PeriodCompanyIndustry (mean)+/- 
MRQ0.5490.639-0.090
TTM0.5840.637-0.053
YOY0.7280.635+0.093
5Y0.7200.637+0.083
10Y0.7320.637+0.095
4.5.4.2. Debt to Equity Ratio

Measures if Tofas is able to pay off its debts by using shareholders equity.

  • Below 2 is considered healthy but always compare Tofas to the Auto Manufacturers industry mean.
  • A Debt to Equity ratio of 121.6% means that company has ₤1.22 debt for each ₤1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Tofas Turk Otomobil Fabrikasi AS:

  • The MRQ is 1.216. The company is able to pay all its debts with equity. +1
  • The TTM is 1.431. The company is able to pay all its debts with equity. +1
Trends
Current periodCompared to+/- 
MRQ1.216TTM1.431-0.215
TTM1.431YOY2.725-1.294
TTM1.4315Y2.894-1.463
5Y2.89410Y2.918-0.024
Compared to industry (Auto Manufacturers)
PeriodCompanyIndustry (mean)+/- 
MRQ1.2161.853-0.637
TTM1.4311.798-0.367
YOY2.7251.802+0.923
5Y2.8941.928+0.966
10Y2.9181.890+1.028
3rd party ad coffee SUPPORTERis ad-free.

4.6. Market Valuation

4.6.1. Earnings Per Share
4.6.2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every ₤1 in earnings Tofas generates.

  • Above 15 is considered overpriced but always compare Tofas to the Auto Manufacturers industry mean.
  • A PE ratio of 33.02 means the investor is paying ₤33.02 for every ₤1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Tofas Turk Otomobil Fabrikasi AS:

  • The EOD is 18.063. Based on the earnings, the company is fair priced.
  • The MRQ is 33.018. Based on the earnings, the company is overpriced. -1
  • The TTM is 15.659. Based on the earnings, the company is fair priced.
Trends
Current periodCompared to+/- 
EOD18.063MRQ33.018-14.955
MRQ33.018TTM15.659+17.358
TTM15.659YOY6.597+9.063
TTM15.6595Y8.881+6.778
5Y8.88110Y9.712-0.831
Compared to industry (Auto Manufacturers)
PeriodCompanyIndustry (mean)+/- 
EOD18.0635.523+12.540
MRQ33.0185.727+27.291
TTM15.6596.008+9.651
YOY6.5975.967+0.630
5Y8.8816.866+2.015
10Y9.71213.015-3.303
4.6.2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Tofas Turk Otomobil Fabrikasi AS:

  • The EOD is 14.742. Based on how much money comes from the company's main activities, the company is cheap. +2
  • The MRQ is 26.947. Based on how much money comes from the company's main activities, the company is underpriced. +1
  • The TTM is 1.239. Based on how much money comes from the company's main activities, the company is cheap. +2
Trends
Current periodCompared to+/- 
EOD14.742MRQ26.947-12.206
MRQ26.947TTM1.239+25.708
TTM1.239YOY4.868-3.628
TTM1.2395Y0.890+0.349
5Y0.89010Y0.445+0.445
Compared to industry (Auto Manufacturers)
PeriodCompanyIndustry (mean)+/- 
EOD14.742-0.090+14.832
MRQ26.947-0.113+27.060
TTM1.239-0.111+1.350
YOY4.8680.323+4.545
5Y0.8900.082+0.808
10Y0.445-0.431+0.876
3rd party ad coffee SUPPORTERis ad-free.
4.6.2. Book Value per Share
4.6.2.1. Price to Book Ratio

Measures if the stock price of Tofas is to cheap or to expensive compared to its book value.

  • At or below 1 is considered healthy (always compare to Auto Manufacturers industry mean).
  • A PB ratio of 4.25 means the investor is paying ₤4.25 for each ₤1 in book value.

Let's take a look of the Price to Book Ratio trends of Tofas Turk Otomobil Fabrikasi AS:

  • The EOD is 2.327. Based on the equity, the company is underpriced. +1
  • The MRQ is 4.253. Based on the equity, the company is fair priced.
  • The TTM is 4.484. Based on the equity, the company is fair priced.
Trends
Current periodCompared to+/- 
EOD2.327MRQ4.253-1.926
MRQ4.253TTM4.484-0.231
TTM4.484YOY7.376-2.892
TTM4.4845Y5.126-0.642
5Y5.12610Y4.522+0.603
Compared to industry (Auto Manufacturers)
PeriodCompanyIndustry (mean)+/- 
EOD2.3271.360+0.967
MRQ4.2531.304+2.949
TTM4.4841.486+2.998
YOY7.3761.435+5.941
5Y5.1261.765+3.361
10Y4.5221.951+2.571
4.6.2. Total Gains per Share
3rd party ad coffee SUPPORTERis ad-free.

6. Financial Statements




6.1. Reversals in quarterly reports

I have detected a reversal (positive to negative, negative to positive) in the following values of the quarterly reports.

 2023-06-302023-09-302023-12-312024-03-312024-06-30
Tax Provision  251,55223,760275,3121,785,3062,060,618-1,913,810146,808-635,421-488,613



6.2. Latest Balance Sheet

Balance Sheet of 2024-06-30. Currency in TRY. All numbers in thousands.

Summary
Total Assets88,557,389
Total Liabilities48,587,273
Total Stockholder Equity39,970,116
 As reported
Total Liabilities 48,587,273
Total Stockholder Equity+ 39,970,116
Total Assets = 88,557,389

Assets

Total Assets88,557,389
Total Current Assets63,625,514
Long-term Assets24,931,875
Total Current Assets
Cash And Cash Equivalents 17,761,916
Short-term Investments 79,643
Net Receivables 20,182,520
Inventory 14,799,446
Other Current Assets 105,867
Total Current Assets  (as reported)63,625,514
Total Current Assets  (calculated)52,929,392
+/- 10,696,122
Long-term Assets
Property Plant Equipment 12,510,120
Intangible Assets 4,019,841
Long-term Assets  (as reported)24,931,875
Long-term Assets  (calculated)16,529,961
+/- 8,401,914

Liabilities & Shareholders' Equity

Total Current Liabilities40,768,835
Long-term Liabilities7,818,438
Total Stockholder Equity39,970,116
Total Current Liabilities
Short Long Term Debt 11,379,915
Accounts payable 24,252,729
Other Current Liabilities 530,409
Total Current Liabilities  (as reported)40,768,835
Total Current Liabilities  (calculated)36,163,053
+/- 4,605,782
Long-term Liabilities
Long term Debt 6,429,822
Capital Lease Obligations Min Short Term Debt29,566
Long-term Liabilities  (as reported)7,818,438
Long-term Liabilities  (calculated)6,459,388
+/- 1,359,050
Total Stockholder Equity
Retained Earnings 20,258,534
Total Stockholder Equity (as reported)39,970,116
Total Stockholder Equity (calculated)20,258,534
+/- 19,711,582
Other
Capital Stock500,000
Common Stock Shares Outstanding 500,000
Net Debt 47,821
Net Invested Capital 57,779,853
Net Working Capital 22,856,679
Property Plant and Equipment Gross 91,244,581



6.3. Balance Sheets Structured

Currency in TRY. All numbers in thousands.

 Trend2024-06-302024-03-312023-12-312023-09-302023-06-302023-03-312022-12-312022-09-302022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312020-09-302020-06-302020-03-312019-12-312019-09-302019-06-302019-03-312018-12-312018-09-302018-06-302018-03-312017-12-312017-09-302017-06-302017-03-312016-12-312016-09-302016-06-302016-03-312015-12-312015-09-302015-06-302015-03-312014-12-312014-09-302014-06-302014-03-312013-12-312013-09-302013-06-302013-03-312012-12-312012-09-302012-06-302012-03-312011-12-312011-09-302011-06-302011-03-312010-12-312010-09-302010-06-302010-03-312009-12-312009-09-302009-06-302009-03-312008-12-312008-09-302008-06-302008-03-312007-12-312007-09-302007-06-302007-03-312006-12-312006-09-302006-06-302006-03-312005-12-312005-09-302005-06-302005-03-312004-12-312004-09-302004-06-302004-03-31
> Total Assets 
1,665,255,000,000
1,956,477,000,000
1,674,500,000,000
1,664,747,000,000
1,699,690
1,877,661
1,827,827
1,932,995
1,973,222
2,293,858
2,188,377
2,418,837
2,373,098
2,712,208
2,790,269
3,176,256
3,598,815
3,579,552
3,474,296
3,570,642
3,856,129
4,137,786
4,053,125
4,367,184
4,593,840
4,699,151
4,642,900
5,284,135
5,937,269
6,080,259
6,039,429
6,302,108
6,129,984
6,084,271
5,928,234
6,061,534
6,266,179
5,937,562
5,855,480
5,928,202
6,113,598
6,342,998
6,550,101
7,124,284
7,579,880
7,681,608
8,894,376
9,866,566
10,099,975
10,586,218
10,793,312
11,829,708
12,313,506
12,371,235
12,877,144
13,875,148
13,155,852
13,513,336
14,853,584
13,001,799
12,739,396
13,347,853
12,089,820
12,809,287
13,291,251
13,946,712
17,447,155
19,475,621
18,918,110
19,534,086
19,698,744
23,473,341
24,339,988
30,503,420
34,399,487
40,375,815
42,468,107
50,064,923
57,930,471
78,667,295
94,575,294
88,557,389
88,557,38994,575,29478,667,29557,930,47150,064,92342,468,10740,375,81534,399,48730,503,42024,339,98823,473,34119,698,74419,534,08618,918,11019,475,62117,447,15513,946,71213,291,25112,809,28712,089,82013,347,85312,739,39613,001,79914,853,58413,513,33613,155,85213,875,14812,877,14412,371,23512,313,50611,829,70810,793,31210,586,21810,099,9759,866,5668,894,3767,681,6087,579,8807,124,2846,550,1016,342,9986,113,5985,928,2025,855,4805,937,5626,266,1796,061,5345,928,2346,084,2716,129,9846,302,1086,039,4296,080,2595,937,2695,284,1354,642,9004,699,1514,593,8404,367,1844,053,1254,137,7863,856,1293,570,6423,474,2963,579,5523,598,8153,176,2562,790,2692,712,2082,373,0982,418,8372,188,3772,293,8581,973,2221,932,9951,827,8271,877,6611,699,6901,664,747,000,0001,674,500,000,0001,956,477,000,0001,665,255,000,000
   > Total Current Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
6,603,521
7,008,484
7,725,981
7,069,873
7,440,652
8,764,426
7,088,297
7,029,801
7,721,795
6,626,609
6,969,685
7,445,696
8,074,997
11,094,444
12,841,366
11,805,984
12,321,520
12,447,096
16,169,548
17,086,883
23,366,546
27,638,441
33,385,203
35,246,089
42,299,274
49,964,229
60,503,930
72,233,987
63,625,514
63,625,51472,233,98760,503,93049,964,22942,299,27435,246,08933,385,20327,638,44123,366,54617,086,88316,169,54812,447,09612,321,52011,805,98412,841,36611,094,4448,074,9977,445,6966,969,6856,626,6097,721,7957,029,8017,088,2978,764,4267,440,6527,069,8737,725,9817,008,4846,603,52100000000000000000000000000000000000000000000000000000
       Cash And Cash Equivalents 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,110,626
2,721,313
2,625,681
2,610,101
2,385,104
1,913,631
1,981,012
2,278,398
2,714,382
2,019,881
2,825,487
2,796,130
2,081,829
4,018,368
4,249,809
3,006,868
2,415,455
3,705,606
4,214,726
4,300,717
6,378,492
8,513,508
11,932,631
15,451,538
16,247,841
21,312,014
24,371,161
27,595,613
17,761,916
17,761,91627,595,61324,371,16121,312,01416,247,84115,451,53811,932,6318,513,5086,378,4924,300,7174,214,7263,705,6062,415,4553,006,8684,249,8094,018,3682,081,8292,796,1302,825,4872,019,8812,714,3822,278,3981,981,0121,913,6312,385,1042,610,1012,625,6812,721,3132,110,62600000000000000000000000000000000000000000000000000000
       Short-term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
48,378
398,779
613,811
543
0
761,524
404,170
770,324
394,570
248,083
568
568
339
484
1,002
677
636
119
240
429
0
181
0
0
0
0
40,788
40,048
79,643
79,64340,04840,788000018104292401196366771,002484339568568248,083394,570770,324404,170761,5240543613,811398,77948,37800000000000000000000000000000000000000000000000000000
       Net Receivables 
399,899,000,000
592,223,000,000
407,260,000,000
422,296,000,000
466,154
468,631
388,827
473,461
401,785
576,278
500,521
575,123
541,692
631,943
579,077
741,354
956,217
1,042,820
819,957
879,031
892,686
999,208
938,272
989,317
997,761
932,858
871,987
1,229,088
1,573,508
1,573,678
1,458,604
1,705,314
1,554,224
1,406,756
1,414,032
1,479,629
1,563,834
1,182,161
1,074,361
1,225,478
1,125,667
1,194,814
1,211,487
1,614,997
1,544,670
1,609,336
1,695,866
2,155,324
2,139,057
3,079,104
2,662,544
2,743,111
2,796,730
3,310,874
2,760,568
3,104,242
2,967,753
1,917,113
2,564,849
2,102,832
1,743,225
2,232,499
2,150,239
2,143,822
2,107,553
3,727,868
4,419,322
5,493,012
5,069,987
5,924,090
4,776,355
7,142,346
7,385,028
10,870,711
11,293,651
14,955,752
12,295,204
14,865,998
15,092,460
18,417,698
23,318,049
20,182,520
20,182,52023,318,04918,417,69815,092,46014,865,99812,295,20414,955,75211,293,65110,870,7117,385,0287,142,3464,776,3555,924,0905,069,9875,493,0124,419,3223,727,8682,107,5532,143,8222,150,2392,232,4991,743,2252,102,8322,564,8491,917,1132,967,7533,104,2422,760,5683,310,8742,796,7302,743,1112,662,5443,079,1042,139,0572,155,3241,695,8661,609,3361,544,6701,614,9971,211,4871,194,8141,125,6671,225,4781,074,3611,182,1611,563,8341,479,6291,414,0321,406,7561,554,2241,705,3141,458,6041,573,6781,573,5081,229,088871,987932,858997,761989,317938,272999,208892,686879,031819,9571,042,820956,217741,354579,077631,943541,692575,123500,521576,278401,785473,461388,827468,631466,154422,296,000,000407,260,000,000592,223,000,000399,899,000,000
       Other Current Assets 
7,702,000,000
5,587,000,000
6,670,000,000
15,803,000,000
9,548
12,061
14,019
14,541
10,713
7,489
11,748
11,290
15,545
8,192
9,160
9,290
14,907
15,711
16,272
7,322
43,681
22,627
18,158
30,824
48,457
13,541
11,122
36,315
21,627
63,042
49,625
95,785
66,943
84,304
48,865
79,056
100,170
46,351
71,265
38,694
29,478
31,799
41,024
30,195
68,567
29,815
55,854
37,439
44,028
41,080
144,225
187,798
41,099
40,385
49,533
326,665
377,607
350,156
512,967
218,997
25,138
6,052
12,837
140,149
193,544
45,565
87,397
155,306
36,145
34,865
33,320
266,549
87,617
54,876
112,665
84,654
35,737
14,089
9,730
43,558
445,910
105,867
105,867445,91043,5589,73014,08935,73784,654112,66554,87687,617266,54933,32034,86536,145155,30687,39745,565193,544140,14912,8376,05225,138218,997512,967350,156377,607326,66549,53340,38541,099187,798144,22541,08044,02837,43955,85429,81568,56730,19541,02431,79929,47838,69471,26546,351100,17079,05648,86584,30466,94395,78549,62563,04221,62736,31511,12213,54148,45730,82418,15822,62743,6817,32216,27215,71114,9079,2909,1608,19215,54511,29011,7487,48910,71314,54114,01912,0619,54815,803,000,0006,670,000,0005,587,000,0007,702,000,000
   > Long-term Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,709,595
5,626,058
5,463,211
5,839,602
5,845,555
5,871,715
6,352,711
6,634,255
7,112,126
7,212,566
7,251,648
7,303,793
7,253,105
7,136,874
6,761,046
6,990,612
7,222,018
7,765,649
7,966,242
18,163,365
22,341,307
24,931,875
24,931,87522,341,30718,163,3657,966,2427,765,6497,222,0186,990,6126,761,0467,136,8747,253,1057,303,7937,251,6487,212,5667,112,1266,634,2556,352,7115,871,7155,845,5555,839,6025,463,2115,626,0585,709,595000000000000000000000000000000000000000000000000000000000000
       Property Plant Equipment 
599,579,000,000
577,571,000,000
560,630,000,000
562,173,000,000
540,981
516,839
528,450
486,666
436,607
534,955
420,991
435,820
804,843
509,413
508,038
883,417
991,144
1,068,950
1,086,288
1,147,990
1,159,922
1,174,457
1,380,655
1,263,164
1,350,414
1,258,512
1,247,538
1,241,018
1,219,922
1,212,531
1,232,982
1,305,296
1,271,414
1,246,011
1,233,378
1,255,773
1,219,668
1,196,331
1,193,034
1,261,168
1,242,095
1,243,467
1,301,588
1,621,362
1,666,667
1,714,255
1,854,664
2,111,520
1,916,324
2,068,506
2,163,917
2,320,618
2,327,213
2,319,520
2,357,244
2,350,019
2,309,859
2,262,291
2,251,383
2,247,601
2,218,659
2,223,991
2,163,808
2,122,859
2,045,093
2,009,626
1,991,906
2,047,309
2,044,678
1,982,774
1,941,988
1,908,952
1,832,144
1,821,178
1,786,764
1,784,958
1,731,671
1,866,792
2,062,039
9,466,083
10,766,229
12,510,120
12,510,12010,766,2299,466,0832,062,0391,866,7921,731,6711,784,9581,786,7641,821,1781,832,1441,908,9521,941,9881,982,7742,044,6782,047,3091,991,9062,009,6262,045,0932,122,8592,163,8082,223,9912,218,6592,247,6012,251,3832,262,2912,309,8592,350,0192,357,2442,319,5202,327,2132,320,6182,163,9172,068,5061,916,3242,111,5201,854,6641,714,2551,666,6671,621,3621,301,5881,243,4671,242,0951,261,1681,193,0341,196,3311,219,6681,255,7731,233,3781,246,0111,271,4141,305,2961,232,9821,212,5311,219,9221,241,0181,247,5381,258,5121,350,4141,263,1641,380,6551,174,4571,159,9221,147,9901,086,2881,068,950991,144883,417508,038509,413804,843435,820420,991534,955436,607486,666528,450516,839540,981562,173,000,000560,630,000,000577,571,000,000599,579,000,000
       Long Term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
4,002
3,823
5,650
6,485
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
00000000000000000000000006,4855,6503,8234,00200000000000000000000000000000000000000000000000000000
       Intangible Assets 
43,744,000,000
42,256,000,000
38,398,000,000
35,924,000,000
31,943
28,029
24,115
143,853
167,284
248,411
282,682
314,020
330,200
429,187
445,668
453,373
517,369
482,326
579,009
692,857
739,257
798,485
657,849
845,438
796,249
860,888
837,859
866,746
837,366
829,981
834,968
782,208
782,683
779,548
754,000
684,061
664,928
656,634
641,406
622,867
620,342
615,675
629,248
894,705
948,281
972,217
1,016,165
1,283,973
1,615,444
1,602,924
1,658,838
1,770,199
1,788,214
1,757,823
1,723,957
1,703,865
1,660,039
1,614,320
1,576,363
1,579,461
1,516,968
1,497,626
1,516,932
1,658,775
1,706,378
1,711,774
1,831,977
1,880,284
2,019,845
2,006,039
1,963,598
1,920,856
1,893,239
1,769,619
1,637,968
1,512,970
1,442,347
1,520,953
1,514,202
4,262,146
4,182,856
4,019,841
4,019,8414,182,8564,262,1461,514,2021,520,9531,442,3471,512,9701,637,9681,769,6191,893,2391,920,8561,963,5982,006,0392,019,8451,880,2841,831,9771,711,7741,706,3781,658,7751,516,9321,497,6261,516,9681,579,4611,576,3631,614,3201,660,0391,703,8651,723,9571,757,8231,788,2141,770,1991,658,8381,602,9241,615,4441,283,9731,016,165972,217948,281894,705629,248615,675620,342622,867641,406656,634664,928684,061754,000779,548782,683782,208834,968829,981837,366866,746837,859860,888796,249845,438657,849798,485739,257692,857579,009482,326517,369453,373445,668429,187330,200314,020282,682248,411167,284143,85324,11528,02931,94335,924,000,00038,398,000,00042,256,000,00043,744,000,000
       Long-term Assets Other 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,709,595
5,626,058
5,463,211
5,839,602
5,845,555
0
0
0
0
0
0
0
1
0
0
0
1,000
0
0
0
0
0
000001,000000100000005,845,5555,839,6025,463,2115,626,0585,709,595000000000000000000000000000000000000000000000000000000000000
> Total Liabilities 
832,572,000,000
1,090,935,000,000
814,648,000,000
776,892,000,000
770,556
891,145
816,120
894,718
920,186
1,357,342
1,203,903
1,400,841
1,324,411
1,658,431
1,675,535
2,015,186
2,468,380
2,427,387
2,272,479
2,451,181
2,764,992
2,954,006
2,764,977
2,944,946
3,144,970
3,132,942
3,027,210
3,578,260
4,446,664
4,531,316
4,421,973
4,512,781
4,447,282
4,234,721
3,982,991
3,999,433
4,559,102
4,174,602
4,041,551
4,029,388
4,403,361
4,446,831
4,510,510
4,883,113
5,612,143
5,545,668
6,724,528
7,284,275
7,653,553
7,877,825
7,949,021
8,872,257
9,508,232
9,303,070
9,599,460
10,292,111
10,168,239
10,294,736
11,907,404
9,295,244
9,611,662
9,835,202
8,101,405
8,480,078
9,903,799
10,393,383
13,892,710
15,007,010
15,481,127
15,257,805
14,696,902
17,729,950
20,684,544
24,855,047
26,422,815
29,062,175
31,465,898
34,207,018
36,699,934
41,787,711
58,834,773
48,587,273
48,587,27358,834,77341,787,71136,699,93434,207,01831,465,89829,062,17526,422,81524,855,04720,684,54417,729,95014,696,90215,257,80515,481,12715,007,01013,892,71010,393,3839,903,7998,480,0788,101,4059,835,2029,611,6629,295,24411,907,40410,294,73610,168,23910,292,1119,599,4609,303,0709,508,2328,872,2577,949,0217,877,8257,653,5537,284,2756,724,5285,545,6685,612,1434,883,1134,510,5104,446,8314,403,3614,029,3884,041,5514,174,6024,559,1023,999,4333,982,9914,234,7214,447,2824,512,7814,421,9734,531,3164,446,6643,578,2603,027,2103,132,9423,144,9702,944,9462,764,9772,954,0062,764,9922,451,1812,272,4792,427,3872,468,3802,015,1861,675,5351,658,4311,324,4111,400,8411,203,9031,357,342920,186894,718816,120891,145770,556776,892,000,000814,648,000,0001,090,935,000,000832,572,000,000
   > Total Current Liabilities 
612,925,000,000
846,395,000,000
590,423,000,000
551,945,000,000
569,845
704,214
650,624
732,577
776,338
1,011,319
888,924
949,559
891,099
1,018,289
921,508
1,204,955
1,533,418
1,693,752
1,302,288
1,324,920
1,509,150
1,743,263
1,548,815
1,758,341
1,997,165
1,724,828
1,574,085
2,045,947
2,809,440
2,799,153
2,443,343
2,744,240
2,715,789
2,563,175
2,421,308
2,464,687
3,048,695
2,764,526
2,476,719
2,565,712
2,735,828
2,892,642
2,865,024
3,375,675
3,370,966
3,319,404
3,791,162
4,527,460
4,941,717
5,070,642
4,984,762
5,692,184
6,145,658
6,181,541
6,268,907
6,845,352
6,569,124
6,824,113
8,042,918
6,097,705
6,435,428
7,204,832
5,624,332
6,126,477
6,290,622
6,494,249
9,267,560
10,880,734
10,937,800
11,246,798
10,395,610
13,757,789
16,560,273
21,335,383
23,392,205
25,069,474
28,545,598
32,082,575
33,930,654
35,566,119
50,199,348
40,768,835
40,768,83550,199,34835,566,11933,930,65432,082,57528,545,59825,069,47423,392,20521,335,38316,560,27313,757,78910,395,61011,246,79810,937,80010,880,7349,267,5606,494,2496,290,6226,126,4775,624,3327,204,8326,435,4286,097,7058,042,9186,824,1136,569,1246,845,3526,268,9076,181,5416,145,6585,692,1844,984,7625,070,6424,941,7174,527,4603,791,1623,319,4043,370,9663,375,6752,865,0242,892,6422,735,8282,565,7122,476,7192,764,5263,048,6952,464,6872,421,3082,563,1752,715,7892,744,2402,443,3432,799,1532,809,4402,045,9471,574,0851,724,8281,997,1651,758,3411,548,8151,743,2631,509,1501,324,9201,302,2881,693,7521,533,4181,204,955921,5081,018,289891,099949,559888,9241,011,319776,338732,577650,624704,214569,845551,945,000,000590,423,000,000846,395,000,000612,925,000,000
       Short-term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
4,827,712
1,806,523
1,900,391
1,921,007
1,878,821
2,367,264
2,016,875
3,000,272
2,564,779
2,119,861
1,841,104
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0000000000000000001,841,1042,119,8612,564,7793,000,2722,016,8752,367,2641,878,8211,921,0071,900,3911,806,5234,827,71200000000000000000000000000000000000000000000000000000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
4,827,712
1,806,523
1,900,391
1,921,007
1,878,821
2,367,264
2,016,875
3,000,272
2,564,779
2,119,861
1,841,104
2,268,935
2,060,383
2,798,436
2,820,308
3,474,235
3,665,461
3,739,840
4,134,510
5,126,935
5,025,141
5,225,524
5,062,090
6,004,544
6,201,731
6,679,793
6,724,996
8,751,860
11,379,915
11,379,9158,751,8606,724,9966,679,7936,201,7316,004,5445,062,0905,225,5245,025,1415,126,9354,134,5103,739,8403,665,4613,474,2352,820,3082,798,4362,060,3832,268,9351,841,1042,119,8612,564,7793,000,2722,016,8752,367,2641,878,8211,921,0071,900,3911,806,5234,827,71200000000000000000000000000000000000000000000000000000
       Accounts payable 
459,824,000,000
651,380,000,000
420,885,000,000
384,329,000,000
394,554
479,679
451,571
480,430
511,701
747,792
663,859
784,559
681,875
787,363
665,536
908,320
1,187,787
1,116,508
768,659
754,005
874,622
1,192,496
873,812
1,128,583
1,379,447
1,135,251
986,858
1,410,409
1,745,403
1,733,676
1,402,584
1,610,617
1,312,618
1,458,470
1,214,183
1,342,733
1,428,571
1,590,343
1,343,820
1,370,112
1,021,235
1,353,994
1,446,275
1,830,135
1,527,317
1,815,809
1,944,758
2,447,544
1,922,177
2,427,174
2,457,761
3,355,205
3,567,208
3,743,936
3,024,746
3,865,606
4,010,801
4,500,135
4,497,603
3,293,983
3,040,252
4,315,960
3,170,186
3,884,834
3,573,933
3,838,905
5,835,884
7,484,095
6,721,068
6,939,011
5,984,019
8,768,386
10,416,513
15,158,246
16,867,615
19,001,732
19,094,043
22,471,950
23,007,647
23,560,878
24,891,632
24,252,729
24,252,72924,891,63223,560,87823,007,64722,471,95019,094,04319,001,73216,867,61515,158,24610,416,5138,768,3865,984,0196,939,0116,721,0687,484,0955,835,8843,838,9053,573,9333,884,8343,170,1864,315,9603,040,2523,293,9834,497,6034,500,1354,010,8013,865,6063,024,7463,743,9363,567,2083,355,2052,457,7612,427,1741,922,1772,447,5441,944,7581,815,8091,527,3171,830,1351,446,2751,353,9941,021,2351,370,1121,343,8201,590,3431,428,5711,342,7331,214,1831,458,4701,312,6181,610,6171,402,5841,733,6761,745,4031,410,409986,8581,135,2511,379,4471,128,583873,8121,192,496874,622754,005768,6591,116,5081,187,787908,320665,536787,363681,875784,559663,859747,792511,701480,430451,571479,679394,554384,329,000,000420,885,000,000651,380,000,000459,824,000,000
       Other Current Liabilities 
65,799,000,000
108,175,000,000
88,628,000,000
95,075,000,000
105,452
140,563
123,807
101,404
106,118
158,567
137,498
94,141
126,499
155,406
176,859
121,770
144,201
212,154
168,563
87,238
86,046
114,663
186,338
148,576
136,433
145,603
130,285
118,731
473,046
256,168
227,647
193,744
456,585
269,903
242,945
180,738
717,316
236,177
248,645
192,255
570,092
253,121
240,651
259,857
783,637
301,070
370,759
247,435
661,926
391,998
385,112
300,012
781,832
532,714
588,050
399,435
546,516
288,342
312,476
242,776
93,187
12,450
16,385
265,023
344,043
445,768
470,407
428,416
642,218
501,049
542,216
662,377
847,170
947,067
1,005,154
665,795
368,691
30,750
158,981
465,601
298,109
530,409
530,409298,109465,601158,98130,750368,691665,7951,005,154947,067847,170662,377542,216501,049642,218428,416470,407445,768344,043265,02316,38512,45093,187242,776312,476288,342546,516399,435588,050532,714781,832300,012385,112391,998661,926247,435370,759301,070783,637259,857240,651253,121570,092192,255248,645236,177717,316180,738242,945269,903456,585193,744227,647256,168473,046118,731130,285145,603136,433148,576186,338114,66386,04687,238168,563212,154144,201121,770176,859155,406126,49994,141137,498158,567106,118101,404123,807140,563105,45295,075,000,00088,628,000,000108,175,000,00065,799,000,000
   > Long-term Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,176,234
2,630,370
2,477,073
2,353,601
3,613,177
3,899,134
4,625,150
4,126,276
4,543,327
4,011,007
4,301,292
3,972,161
4,124,271
3,519,664
3,030,610
2,992,701
2,920,300
2,124,443
2,769,280
6,221,592
8,635,425
7,818,438
7,818,4388,635,4256,221,5922,769,2802,124,4432,920,3002,992,7013,030,6103,519,6644,124,2713,972,1614,301,2924,011,0074,543,3274,126,2764,625,1503,899,1343,613,1772,353,6012,477,0732,630,3703,176,234000000000000000000000000000000000000000000000000000000000000
       Capital Lease Obligations Min Short Term Debt
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-4,827,712
-1,806,523
-1,900,391
-1,921,007
-1,878,821
-2,367,264
-2,016,875
-3,000,272
-2,550,796
-2,107,336
-1,828,974
11,691
15,386
15,323
14,054
13,905
12,809
11,389
10,433
14,332
18,832
18,253
22,281
26,809
25,819
24,763
31,330
27,843
29,566
29,56627,84331,33024,76325,81926,80922,28118,25318,83214,33210,43311,38912,80913,90514,05415,32315,38611,691-1,828,974-2,107,336-2,550,796-3,000,272-2,016,875-2,367,264-1,878,821-1,921,007-1,900,391-1,806,523-4,827,71200000000000000000000000000000000000000000000000000000
       Long-term Liabilities Other 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
11,456
15,682
12,562
9,441
7,881
11,166
8,909
6,651
5,522
6,651
0
0
0
0
0
0
0
0
0
0
0
0
0000000000006,6515,5226,6518,90911,1667,8819,44112,56215,68211,456000000000000000000000000000000000000000000000000000000000000
       Deferred Long Term Liability 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,609,431
1,656,981
0
0
1,831,188
0
0
0
1,868,261
1,841,747
0
0
1,434,575
0
0
0
0
0
0
0000001,434,575001,841,7471,868,2610001,831,188001,656,9811,609,431000000000000000000000000000000000000000000000000000000000000000
> Total Stockholder Equity
832,683,000,000
865,542,000,000
859,852,000,000
887,855,000,000
929,134
986,516
1,011,707
1,038,277
1,053,036
936,516
984,474
1,017,996
1,048,687
1,053,777
1,114,734
1,161,070
1,130,435
1,152,165
1,201,817
1,119,461
1,091,137
1,183,780
1,288,148
1,422,238
1,448,870
1,566,209
1,615,690
1,705,875
1,490,605
1,548,943
1,617,456
1,789,327
1,682,702
1,849,550
1,945,243
2,062,101
1,707,077
1,762,960
1,813,929
1,898,814
1,710,237
1,896,167
2,039,591
2,241,171
1,967,737
2,135,940
2,169,848
2,582,291
2,446,422
2,708,393
2,844,291
2,957,451
2,805,274
3,068,165
3,277,684
3,583,037
2,987,613
3,218,600
2,946,180
3,706,555
3,127,734
3,512,651
3,988,415
4,329,209
3,387,452
3,553,329
3,554,445
4,468,611
3,436,983
4,276,281
5,001,842
5,743,391
3,655,444
5,648,373
7,976,672
11,313,640
11,002,209
15,857,905
21,230,537
36,879,584
35,740,521
39,970,116
39,970,11635,740,52136,879,58421,230,53715,857,90511,002,20911,313,6407,976,6725,648,3733,655,4445,743,3915,001,8424,276,2813,436,9834,468,6113,554,4453,553,3293,387,4524,329,2093,988,4153,512,6513,127,7343,706,5552,946,1803,218,6002,987,6133,583,0373,277,6843,068,1652,805,2742,957,4512,844,2912,708,3932,446,4222,582,2912,169,8482,135,9401,967,7372,241,1712,039,5911,896,1671,710,2371,898,8141,813,9291,762,9601,707,0772,062,1011,945,2431,849,5501,682,7021,789,3271,617,4561,548,9431,490,6051,705,8751,615,6901,566,2091,448,8701,422,2381,288,1481,183,7801,091,1371,119,4611,201,8171,152,1651,130,4351,161,0701,114,7341,053,7771,048,6871,017,996984,474936,5161,053,0361,038,2771,011,707986,516929,134887,855,000,000859,852,000,000865,542,000,000832,683,000,000
   Common Stock
0
450,000,000,000
0
450,000,000,000
450,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
0
0
0
0
0
0
000000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000500,000450,000450,000,000,0000450,000,000,0000
   Retained Earnings Total Equity0000000000000000000000000000000000000000000000000000000000000000000000000000000000
   Accumulated Other Comprehensive Income 0000000000000000000000000000000000000000000000000000000000000000000000000000000000
   Capital Surplus 0000000000000000000000000000000000000000000000000000000000000000000000000000000000
   Treasury Stock0000000000000000000000000000000000000000000000000000000000000000000000000000000000
   Other Stockholders Equity 000000-1,487,464-1,326,570-1,595,969-1,712,588-1,695,522-1,220,185-1,365,160-1,337,278-1,188,986-1,463,948-954,740-832,150-744,218-634,520-812,340-788,795-765,233-1,199,069-615,739-478,745-360,401-241,461-167,34600000000000000000000000000000000000000000000000000000



6.4. Balance Sheets

Currency in TRY. All numbers in thousands.