Buffett Brain · Research note
Score updated 29 Oct 2026
THYAO.IS· Industrials
Türk Hava Yollari Anonim Ortakligi
Türk Hava Yollari's P/E of 138.3 and weak margins make it an unattractive investment with no moat.
Buffett fit
Weak fit
Owner
16
Durability
62
Management
59
Price
0
Score updated 29 Oct 2026
Buffett's checklist
Each number against Buffett's bar, and where it ranks among Industrials stocks in our database.
How much profit the business makes on each dollar invested in it. Higher is better.
What is left of each sale after the cost of making the product. A high number often means pricing power.
The cash the business earns for its owners, compared with the price of the whole company.
How fast sales grew each year over the last five years.
How many years of today's profit you pay for at today's price. Lower means cheaper.
How much the company owes compared with what it owns outright. Lower is safer.
The four pillars
How the business measures up on each of Buffett's four tests.
If we owned 100% of Türk Hava Yollari, the next decade would involve navigating a highly competitive and capital-intensive industry.
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The airline industry faces risks from economic downturns, fuel price volatility, and regulatory changes.
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The share count has remained flat over the past five years, showing no dilution, but there's no evidence of shareholder returns through dividends or .
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The current valuation metrics, including a of 138.3 and an EV/ of 105.6, indicate an overvaluation.
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- The full reasoning behind all four pillars
- The 5-year price target and the return it implies
- What would change the call
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For and against
The strongest points on each side, with the numbers behind them.
In its favor
5- 1Net margin of 12.08% is above the sector top-quintile cutoff of 13.9%.
- 2 (5y avg) of 24.06% indicates efficient equity utilization.
- 3Interest coverage of 7.1 suggests the company can comfortably meet interest obligations.
- 4Revenue CAGR of 13.12% over 5 years shows solid top-line growth.
Concerns
7- 1 of 138.3 suggests overvaluation with no .
- 2 of 16.14% is well below the sector top-quintile cutoff of 43.4%.
- 3 (5y avg) of 9.44% is below the sector top-quintile cutoff of 14.0%.
- 4Net debt/EBITDA of 2.49 indicates higher risk.
Price history
$253+1,330.6%· 5-year return
Weekly closing prices. Touch or hover the line for a date.
The business
How the business works
Türk Hava Yollari provides domestic and international air transport services, along with aircraft maintenance and technical support. The company generated $24.1B in revenue with a net margin of 12.08%. It operates in a capital-intensive industry, requiring significant investment to maintain and expand its fleet. Unit economics are challenging with a of 16.14%, indicating limited .
What other investors would say
The same company, judged by three other documented playbooks.
Keep researching
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Questions about Türk Hava Yollari Anonim Ortakligi
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