Does Türk Traktör ve Ziraat Makineleri A.S. have an economic moat?
Maybe
Türk Traktör ve Ziraat Makineleri A.S. earns 29.8% a year on the money invested in it: decent, but not the clear sign of a wide moat.
The numbers behind it
Return on invested capital, average of recent years29.8%
Return on invested capital, latest year15.6%
Gross margin13.7%Share of each sale left after production costs
Net margin0.8%
How we decide
A moat shows up in the numbers as high returns that last. We call it likely when the average return on invested capital over recent years is at least 15% and the gross margin at least 40%, and possible from 10%. The numbers can't show where a moat comes from (brand, network, patents), only that one seems to exist.
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Data as of Nov 13, 2026.