Türk Hava Yollari Anonim Ortakligi (TKHVY) Fair Value & Analysis
Industrials · US · Market cap $9.8B
Türk Hava Yollari Anonim Ortakligi
TKHVY · US
Fair value as of: Jul 24, 2026
From 26 valuation models · updated 17 days ago
Fair value updated Jul 24, 2026, revised from $351.91 to $97.91 (−72.2%) since Jun 25, 2026. Share price −4.8% over the past month.
Below-average quality, screening 43% undervalued on our models.
What matters now
- The price is below even our cautious bear case ($73.44). The market is more pessimistic than our downside scenario.
- Solid quality (45/100) at a price below fair value, the discount is the argument here, not the business quality.
- A fairly wide model range ($73.44 to $146.91) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.
How to read this chart
60‑month range $10.51 – $99.92 · fair‑value band $73.44 – $146.91 · the $68.53 price screens below the $97.91 fair value. Dashed = 300-day average. As of Jul 24, 2026.
Analysis
Türk Hava Yollari Anonim Ortakligi (TKHVY) currently trades at $68.53, while our model-based Fair Value estimate is $97.91, implying the stock looks roughly 42.9% undervalued today. The Quality Score stands at 45/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Türk Hava Yollari Anonim Ortakligi generated revenue of $25.1B at a net margin of 12.7%. Revenue grew 21.1% year over year. It earns a return on equity of 15.6%. Net debt stands at $15.8B. Fundamentals as of Jul 24, 2026
Our scenario range runs from $73.44 (bear case) to $146.91 (bull case); at $68.53, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 15% below its 52-week high and 14% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 40% fair-value upside, at 43%, TKHVY screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: DCF Models ($499.13) versus Dividend Discount ($24.93). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 48 · Market factors (momentum, volatility) 38
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Türk Hava Yollari Anonim Ortakligi provides air transport and aircraft technical maintenance services in Turkey and internationally.
Full company description
Türk Hava Yollari Anonim Ortakligi provides air transport and aircraft technical maintenance services in Turkey and internationally. The company offers domestic and international passenger and cargo air transportation services; repair and maintenance; technical and infrastructure support services related to aviation sector; informatics and technology; cargo and courier transportation; support services; security services; payment systems; health services; management of various investment projects; cabin interior production; catering services; aviation ground handling services; aviation fuel services; It is also involved engine maintenance; and reverse thrust and engine nacelle services, as well as sports activities. The company was incorporated in 1933 and is headquartered in Istanbul, Turkey.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Türk Hava Yollari Anonim Ortakligi reported revenue of $24.1B in FY2025 versus $7.3B in FY2021, a compound +34.8%/yr. Reported net income was $3.0B in FY2025, compounding +48.3%/yr from FY2021.
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Peer Group
Airlines · 60 stocks
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.
Valuation Multiples vs Airlines median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Airlines stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Delta Air Lines, Inc DAL | $84.17 | $118.24 | +40% |
| United Airlines Holdings UAL | $120.97 | $175.62 | +45% |
| Ryanair Holdings RYA | €25.47 | €41.26 | +62% |
| Southwest Airlines Co LUV | $47.56 | $14.76 | -69% |
| InterGlobe Aviation Limited INDIGO | ₹5,249 | ₹3,704 | -29% |
| Singapore Airlines Limited C6L | 7.60 SGD | 7.89 SGD | +4% |
| Air China Limited 601111 | ¥5.97 | ¥7.16 | +20% |
| LATAM Airlines Group LTM | $54.87 | $106.79 | +95% |
| Deutsche Lufthansa AG 1LHA | €8.57 | €15.42 | +80% |
| China Southern Airlines Company 600029 | ¥4.99 | ¥1.28 | -74% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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