TAV Havalimanlari Holding (TAVHF) fair value: what the stock is really worth
We calculate from audited financials what TAV Havalimanlari Holding is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? No
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TAV Havalimanlari Holding
TAVHF · USSpeculativeUpside exists, but weak quality makes the signal speculative.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.
How to read this chart
33‑month range $3.74 – $8.27 · fair‑value band $3.94 – $9.64 · the $5.54 price screens below the $6.49 fair value. Dashed = 300-day average. As of Sep 13, 2026.
Company profile
TAV Havalimanlari Holding A.S., together with its subsidiaries, constructs terminal buildings, and manages and operates terminals or airports in Turkey, Georgia, Kazakhstan, Macedonia, Tunisia, Croatia, Oman, Latvia, Spain, Qatar, Saudi Arabia, and internationally.
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TAV Havalimanlari Holding A.S., together with its subsidiaries, constructs terminal buildings, and manages and operates terminals or airports in Turkey, Georgia, Kazakhstan, Macedonia, Tunisia, Croatia, Oman, Latvia, Spain, Qatar, Saudi Arabia, and internationally. It operates through Terminal Operations, Catering Operations, Duty Free Operations, Ground Handling and Bus Operations, and Other segments. The Terminal Operations segment engages in the operation of terminal buildings, car parks, general aviation terminals, and parking-apron-taxi way, as well as ground handling operations. Its Catering Operations segment manages food and beverage operations of the terminal for passengers and the terminal personnel. The Duty Free Operations segment sells duty free goods for the international arriving and departing passengers. Its Ground Handling and Bus Operations segment is involved in the provision of traffic, ramp, flight operations, cargo, and other ground handling services for domestic and international flights, as well as the operation of buses. The Other segment provides lounge, IT, security and education, and airline taxi services, as well as software and system services. The company was formerly known as Tepe Akfen Vie Yatirim Yapim ve Isletme A.S. and changed its name to TAV Havalimanlari Holding A.S. in August 2006. TAV Havalimanlari Holding A.S. was founded in 1997 and is based in Istanbul, Turkey.
Stock analysis
TAV Havalimanlari Holding (TAVHF) currently trades at $5.54, while our model-based Fair Value estimate is $6.49, implying the stock looks roughly 14.6% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of $7.91 per share, and 14 of the 24 models we run sit above the $5.54 price.
Bear case: the Asset-Based group reads lowest at $2.92, and 10 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: $3.94 (bear) to $9.64 (bull), the price of $5.54 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 48/100 (below-average quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
TAV Havalimanlari Holding reported revenue of €1.8B in FY2025 versus €522M in FY2021, a compound +36.7%/yr. Reported net income was €50.7M in FY2025, compounding +3.2%/yr from FY2021.
Key figures
Market cap $2.0B · P/E ratio 42.6 · P/S ratio 1.18 · EPS (TTM) $0.1300 · Dividend yield 0.2% · Net margin 2.8% · Return on equity 3.3% · Return on assets (EBIT) 5.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The share trades about 34% below its 52-week high, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 10% fair-value upside, at 17%, TAVHF screens cheaper than that median.
Fair Value models
All 24 models by family
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Set up alert →Quality Score breakdown
Of which business quality 46 · Market factors (momentum, volatility) 29
Revenue & earnings trend
Growth Forecast
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Compare TAV Havalimanlari Holding with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Airports & Air Services · 54 stocks
Valuation Multiplesvs Airports & Air Services median · lower = cheaper
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Industrials
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Airports & Air Services stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Aena S.M.E., S.A AENA | €24.66 | €27.13 | +10% |
| Airports of Thailand Public Company TATD | 2.40 SGD | 2.64 SGD | +10% |
| Grupo Aeroportuario del Pacífico, S.A. PAC | $203.46 | $251.17 | +23% |
| GMR Airports Limited GMRINFRA | ₹98.10 | ₹22.29 | −77% |
| Shanghai International Airport Co 600009 | ¥23.28 | ¥25.61 | +10% |
| Flughafen Zürich AG FHZN | CHF 202.40 | CHF 121.30 | −40% |
| Auckland International Airport Limited AIA | A$6.77 | A$3.35 | −51% |
| Fraport AG FRA | €60.15 | €49.83 | −17% |
| Københavns Lufthavne A/S KBHL | kr 5,560 | kr 1,821 | −67% |
| SATS Ltd S58 | 3.91 SGD | 5.30 SGD | +36% |
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Frequently asked questions
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Key figures of TAV Havalimanlari Holding
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