Turkish Air
Turkish Airlines compared to a Competitor
The report compares International Consolidated Airlines Group S.A is to Turkish Airlines because they both operate in the same industry: air transportation of passengers. They both serve similar geographic segments: Europe and US, 38% of International Consolidated came from other areas and 44% of Turkish Airline’s income comes from other geographic areas. Furthermore, taken from the 2012 financial statements, the total equity for both companies is similar (5.40 billion for Turkish, 4.75 billion for ICAG). Equity is a good indicator of size of the company. Both companies did not pay out dividends in the past year and both employ the same reporting standards (IFRS).
Turkish Airlines has 3.7 billion lira in revenue and ICAG has 9.5 billion euros in revenue, but that is not reflected in their margins. Turkish Airlines has a positive Net Margin of 7.6 compared to the -5.2 Net Margin of ICAG. This results in a 22.9 ROE for Turkish Airlines and -18.6 ROE for
Ratios: Ratio Year of 2012 | Turkish | ICAG | Current Ratio (CA/CL) | 3899761/4533668=0.86 | 5026/7564=0.66 | Return on Equity | 25.11 | -18.6 | Net Margin | 7.6 | -5.2 | Solvency Ratio (After Tax Net Profit + Depreciation)/(LT+ST Liabilities) | 28.78 | -997+343+1071/15082 = 0.028 | Price Earnings Ratio | 8.29 | Negative | Return on Invested Capital | 9.9 | -7.1 | EBITDA Margin | 17.5 | 1.5 | Debt-Equity Ratio | | | FCF (millions) | 1335 (Turkish lira) | -1155 (euros) | | | |
Ratio Year of 2011 | Turkish | ICAG | Current Ratio (CA/CL) | 3794054/3951410 = 0.9602 | 7624953/8447873 = 0.9026 | Return on Equity | 3.24 | | Net Margin | | | Solvency Ratio (After Tax Net Profit + Depreciation)/(LT+ST Liabilities) | 27.42 | | Price Earnings Ratio | 3.40 | | Return on Invested Capital | | | EBITDA Margin | | | Debt-Equity Ratio | | | FCF (millions) | | | | | |
Ratio Year of 2010 | Turkish | ICAG |
The report compares International Consolidated Airlines Group S.A is to Turkish Airlines because they both operate in the same industry: air transportation of passengers. They both serve similar geographic segments: Europe and US, 38% of International Consolidated came from other areas and 44% of Turkish Airline’s income comes from other geographic areas. Furthermore, taken from the 2012 financial statements, the total equity for both companies is similar (5.40 billion for Turkish, 4.75 billion for ICAG). Equity is a good indicator of size of the company. Both companies did not pay out dividends in the past year and both employ the same reporting standards (IFRS).
Turkish Airlines has 3.7 billion lira in revenue and ICAG has 9.5 billion euros in revenue, but that is not reflected in their margins. Turkish Airlines has a positive Net Margin of 7.6 compared to the -5.2 Net Margin of ICAG. This results in a 22.9 ROE for Turkish Airlines and -18.6 ROE for
Ratios: Ratio Year of 2012 | Turkish | ICAG | Current Ratio (CA/CL) | 3899761/4533668=0.86 | 5026/7564=0.66 | Return on Equity | 25.11 | -18.6 | Net Margin | 7.6 | -5.2 | Solvency Ratio (After Tax Net Profit + Depreciation)/(LT+ST Liabilities) | 28.78 | -997+343+1071/15082 = 0.028 | Price Earnings Ratio | 8.29 | Negative | Return on Invested Capital | 9.9 | -7.1 | EBITDA Margin | 17.5 | 1.5 | Debt-Equity Ratio | | | FCF (millions) | 1335 (Turkish lira) | -1155 (euros) | | | |
Ratio Year of 2011 | Turkish | ICAG | Current Ratio (CA/CL) | 3794054/3951410 = 0.9602 | 7624953/8447873 = 0.9026 | Return on Equity | 3.24 | | Net Margin | | | Solvency Ratio (After Tax Net Profit + Depreciation)/(LT+ST Liabilities) | 27.42 | | Price Earnings Ratio | 3.40 | | Return on Invested Capital | | | EBITDA Margin | | | Debt-Equity Ratio | | | FCF (millions) | | | | | |
Ratio Year of 2010 | Turkish | ICAG |