Cash flow Net Holding

Stocks

NTHOL

TRANTHOL91Q6

Casinos & Gaming

Market Closed - Borsa Istanbul Other stock markets 01:08:15 24/06/26 am AEST			5-day change	1st Jan Change
47.12 ^TRY	+0.17%		+10.09%	-2.77%

12/05	Net Holding Q1 net profit up at 325.4 mln lira yoy	RE
12/05	Net Holding A.S. Reports Earnings Results for the First Quarter Ended March 31, 2026	CI

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Published financial data: NET HOLDING

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	1.01B	3.38B	9.49B	19.37B	25.02B
Other Revenues, Total	-	-	-	-	-
Total Revenues	1.01B	3.38B	9.49B	19.37B	25.02B
Cost of Goods Sold, Total	643M	2.16B	5.73B	13.77B	18.23B
Gross Profit	369M	1.22B	3.76B	5.59B	6.79B
Selling General & Admin Expenses, Total	143M	284M	1.58B	3.12B	1.81B
Other Operating Expenses	119M	106M	188M	-288M	795M
Other Operating Expenses, Total	262M	391M	1.76B	2.83B	2.61B
Operating Income	107M	826M	2B	2.76B	4.18B
Interest Expense, Total	-226M	-331M	-718M	-1.27B	-1.52B
Interest And Investment Income	2.51B	3.07B	2.54B	985M	345M
Net Interest Expenses	2.28B	2.74B	1.82B	-288M	-1.17B
Income (Loss) On Equity Invest.	-2.83M	-	-	-	-
Currency Exchange Gains (Loss)	-998M	-768M	-2.46B	-772M	-2.6B
Other Non Operating Income (Expenses)	-19.19M	-31M	3.5B	3.08B	2.32B
EBT, Excl. Unusual Items	1.37B	2.76B	4.85B	4.78B	2.72B
Gain (Loss) On Sale Of Investments	-2.52M	-97.45M	-20.34M	-1.04B	-536M
Insurance Settlements	1.27M	3.39M	6.06M	14.07M	26.77M
EBT, Incl. Unusual Items	1.37B	2.67B	4.84B	3.75B	2.21B
Income Tax Expense	353M	-268M	2.12B	774M	67.37M
Earnings From Continuing Operations	1.01B	2.94B	2.72B	2.98B	2.15B
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	1.01B	2.94B	2.72B	2.98B	2.15B
Minority Interest	-105M	-276M	-490M	-351M	-480M
Net Income - (IS)	910M	2.66B	2.23B	2.63B	1.67B
Net Income to Common Incl Extra Items	910M	2.66B	2.23B	2.63B	1.67B
Net Income to Common Excl. Extra Items	910M	2.66B	2.23B	2.63B	1.67B
Per Share Items
Net EPS - Basic	1.93	5.61	3.96	4.73	3.33
Basic EPS - Continuing Operations	1.93	5.61	3.96	4.73	3.33
Basic Weighted Average Shares Outstanding	472M	475M	-	555M	500M
Net EPS - Diluted	1.93	5.61	3.96	4.73	3.33
Diluted EPS - Continuing Operations	1.93	5.61	3.96	4.73	3.33
Diluted Weighted Average Shares Outstanding	472M	475M	-	555M	500M
Normalized Basic EPS	1.59	3.06	4.51	4.75	2.44
Normalized Diluted EPS	1.59	3.06	4.51	4.75	2.44
Payout Ratio	3.52	0.55	0.96	6.54	22.83
Supplemental Items
EBITDA	256M	1.13B	3.49B	6.53B	8.6B
EBITA	107M	826M	2B	2.77B	4.2B
EBIT	107M	826M	2B	2.76B	4.18B
EBITDAR	257M	1.13B	3.49B	-	-
Effective Tax Rate - (Ratio)	25.79	-10.04	43.8	20.64	3.04
Current Domestic Taxes	1.77M	8M	11.85M	-	-
Current Foreign Taxes	5.29M	13.5M	195K	414M	925M
Total Current Taxes	7.05M	21.5M	12.05M	414M	925M
Deferred Domestic Taxes	15.69M	57.71M	-2.67M	1.19M	12.36M
Deferred Foreign Taxes	330M	-347M	2.11B	360M	-870M
Total Deferred Taxes	346M	-290M	2.11B	361M	-858M
Normalized Net Income	751M	1.45B	2.54B	2.64B	1.22B
Non-Cash Pension Expense	-	-	-	-	-
Supplemental Operating Expense Items
Advertising Expense	24.28M	55.53M	119M	214M	261M
Marketing Expenses	5.42M	12.66M	29.89M	125M	91.12M
Selling and Marketing Expenses	29.7M	68.19M	149M	339M	352M
General and Administrative Expenses	113M	216M	1.43B	2.78B	1.46B
Net Rental Expense, Total	980K	1.3M	1.12M	-	-
Imputed Operating Lease Interest Expense	645K	1.01M	1.16M	-	-
Imputed Operating Lease Depreciation	335K	291K	-40.54K	-	-
Maintenance & Repair Expenses, Total	15.42M	58.37M	36.44M	54.64M	45.29M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	1.21B	1.11B	2.04B	2.1B	3.29B
Short Term Investments	260K	-	168K	-	-
Trading Asset Securities, Total	-	916K	693K	-	-
Total Cash And Short Term Investments	1.21B	1.11B	2.05B	2.1B	3.29B
Accounts Receivable, Total	215M	202M	121M	776M	1.4B
Other Receivables	4.4M	6.12M	147M	420M	545M
Notes Receivable	-	-	-	-	-
Total Receivables	219M	209M	268M	1.2B	1.94B
Inventory	59.89M	153M	311M	386M	931M
Prepaid Expenses	43.63M	174M	392M	-	194M
Other Current Assets, Total	56.06M	95.14M	205M	1.75B	1.91B
Total Current Assets	1.59B	1.74B	3.22B	5.43B	8.27B
Gross Property Plant And Equipment	12B	17.93B	46.49B	72.85B	118B
Accumulated Depreciation	-930M	-1.3B	-11.2B	-14.91B	-24.58B
Net Property Plant And Equipment	11.07B	16.63B	35.29B	57.94B	92.93B
Long-term Investments	189M	2.38M	15.94M	23.02M	30.13M
Other Intangibles, Total	61.37M	117M	404M	666M	975M
Deferred Tax Assets Long-Term	330M	1.27B	3.24B	80.26M	92.7M
Other Long-Term Assets, Total	4.51B	7.7B	15.63B	20.41B	16.5B
Total Assets	17.75B	27.47B	57.8B	84.56B	119B
Liabilities
Accounts Payable, Total	469M	688M	1.23B	2.54B	3.73B
Accrued Expenses, Total	54.47M	130M	343M	834M	1.04B
Short-term Borrowings	178M	229M	453M	481M	304M
Current Portion of Long-Term Debt	951M	1.17B	1.76B	2.63B	3.18B
Current Portion of Leases	129M	132M	89.13M	84.18M	254M
Current Income Taxes Payable	7.05M	21.5M	11.7M	414M	925M
Unearned Revenue Current, Total	60.23M	1.05B	1.86B	809M	168M
Other Current Liabilities	4.67M	4.37M	339M	632M	102M
Total Current Liabilities	1.85B	3.43B	6.09B	8.42B	9.71B
Long-Term Debt	1.98B	1.73B	1.99B	3B	4.21B
Long-Term Leases	180M	138M	1.24B	1.08B	2.09B
Unearned Revenue Non Current	2.31K	2.3M	1.52M	110K	-
Pension & Other Post Retirement Benefits	8.83M	15.87M	27.14M	51.04M	68.98M
Deferred Tax Liability Non Current	3.08B	4.82B	12.84B	16.03B	21.33B
Other Non Current Liabilities	12.84M	21.85M	2.03M	323M	590M
Total Liabilities	7.12B	10.15B	22.18B	28.91B	38B
Common Stock, Total	564M	564M	564M	500M	500M
Additional Paid In Capital	-	-	-	-	-
Retained Earnings	2.12B	5.16B	11.09B	19.3B	26.59B
Treasury Stock	-234M	-226M	-1.05B	-413M	-1.04B
Comprehensive Income and Other	7.45B	10.64B	22.84B	33.17B	50.32B
Total Common Equity	9.9B	16.13B	33.43B	52.55B	76.37B
Minority Interest	732M	1.19B	2.18B	3.1B	4.42B
Total Equity	10.64B	17.32B	35.62B	55.65B	80.79B
Total Liabilities And Equity	17.75B	27.47B	57.8B	84.56B	119B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	472M	475M	468M	468M	457M
ECS Total Common Shares Outstanding	472M	475M	468M	468M	457M
Book Value / Share	20.98	33.98	71.4	112.34	167.11
Tangible Book Value	9.84B	16.02B	33.03B	51.88B	75.4B
Tangible Book Value Per Share	20.85	33.73	70.53	110.92	164.97
Total Debt	3.42B	3.39B	5.53B	7.28B	10.04B
Net Debt	2.21B	2.28B	3.49B	5.18B	6.75B
Debt Equivalent Oper. Leases	7.84M	10.42M	8.99M	-	-
Minority Interest, Total (Incl. Fin. Div)	732M	1.19B	2.18B	3.1B	4.42B
Equity Method Investments, Total	187M	-	-	-	-
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	45.58M	69.99M	130M	219M	310M
Inventories - Finished Goods, Total	4.69M	11M	31.5M	38.2M	45.73M
Inventories - Others	9.65M	71.72M	149M	128M	438M
Land - (BS)	422M	559M	1.6B	1.05B	7.17B
Buildings, Total	8.95B	15.39B	28.3B	57.32B	87.1B
Machinery, Total	692M	1.25B	11.31B	8.79B	13.38B
Full Time Employees	4.1K	5.36K	5.98K	7.13K	7.8K
Accumulated Allowance for Doubtful Accounts (Supple)	21.29M	14.25M	12.86M	-	6.51M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	910M	2.66B	2.23B	2.63B	1.67B
Depreciation & Amortization - CF	179M	336M	1.79B	4.18B	5.12B
Amortization of Goodwill and Intangible Assets - (CF)	355K	370K	876K	8.93M	17.98M
Depreciation & Amortization, Total	179M	336M	1.79B	4.19B	5.14B
Asset Writedown & Restructuring Costs	-2.48B	-2.89B	-2.22B	154M	477M
(Income) Loss On Equity Investments - (CF)	-19.97M	187M	122M	-	-
Provision and Write-off of Bad Debts	8.77M	1.58M	-	-255K	-
Net Cash From Discontinued Operations	-	-	-	-	-
Other Operating Activities, Total	2.11B	878M	1.18B	4.21B	-3.18B
Change In Accounts Receivable	-92.79M	24.54M	105M	-968M	-687M
Change In Inventories	-23.75M	-92.8M	-157M	62.68M	-289M
Change In Accounts Payable	411M	211M	483M	293M	1.26B
Change in Unearned Revenues	50.01M	997M	801M	-1.88B	-891M
Change in Other Net Operating Assets	-98.77M	27.16M	-497M	1.84B	-579M
Cash from Operations	958M	2.34B	3.85B	10.54B	2.92B
Capital Expenditure	-384M	-1.41B	-1.89B	-9.75B	-874M
Sale of Property, Plant, and Equipment	1.65M	2.8M	1.27B	2.01B	80.09M
Divestitures	-	59K	-	-	-
Sale (Purchase) of Real Estate properties	-22.13M	-125M	-430M	-870M	-712M
Sale (Purchase) of Intangible assets	-57.29M	-140M	-85.16M	-98.41M	-113M
Other Investing Activities, Total	-	-	-	-	-1.43B
Cash from Investing	-461M	-1.67B	-1.14B	-8.71B	-3.05B
Long-Term Debt Issued, Total	847M	570M	515M	2.69B	6.39B
Total Debt Issued	847M	570M	515M	2.69B	6.39B
Long-Term Debt Repaid, Total	-1.2B	-1.45B	-1.73B	-2.37B	-2.37B
Total Debt Repaid	-1.2B	-1.45B	-1.73B	-2.37B	-2.37B
Issuance of Common Stock	844M	45.92M	-	32.1M	-
Repurchase of Common Stock	-77.88M	-2.09M	-115M	-	-502M
Common Dividends Paid	-32.05M	-14.56M	-21.33M	-172M	-380M
Common & Preferred Stock Dividends Paid	-32.05M	-14.56M	-21.33M	-172M	-380M
Other Financing Activities, Total	-147M	-262M	-204M	-2.14B	-1.32B
Cash from Financing	230M	-1.11B	-1.56B	-1.96B	1.82B
Foreign Exchange Rate Adjustments	150M	339M	-130M	188M	-492M
Miscellaneous Cash Flow Adjustments	-	-	-804M	-907M	-648M
Net Change in Cash	877M	-101M	217M	-852M	543M
Supplemental Items
Cash Interest Paid	226M	331M	338M	1.27B	1.52B
Cash Income Tax Paid (Refund)	43.63M	174M	392M	-397M	-384M
Levered Free Cash Flow	-80.68M	149M	1.14B	-6.59B	4.32B
Unlevered Free Cash Flow	60.73M	356M	1.59B	-5.79B	5.27B
Change In Net Working Capital	-256M	-1.05B	-521M	1.86B	1.49B
Net Debt Issued / Repaid	-358M	-879M	-1.22B	320M	4.02B

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	0.53	2.28	2.39	2.1	2.28
Return on Total Capital	0.66	2.97	3.26	2.82	3.02
Return On Equity %	13.74	21.02	8.31	5.56	2.79
Return on Common Equity	13.05	20.45	7.24	5.21	2.3
Margin Analysis
Gross Profit Margin %	36.47	36.03	39.65	28.88	27.12
SG&A Margin	14.13	8.42	16.61	16.09	7.24
EBITDA Margin %	25.35	33.48	36.72	33.69	34.4
EBITA Margin %	10.57	24.47	21.07	14.32	16.77
EBIT Margin %	10.54	24.46	21.06	14.27	16.7
Income From Continuing Operations Margin %	100.34	87.04	28.65	15.38	8.58
Net Income Margin %	89.97	78.86	23.49	13.57	6.66
Net Avail. For Common Margin %	89.97	78.86	23.49	13.57	6.66
Normalized Net Income Margin	74.2	42.99	26.8	13.63	4.88
Levered Free Cash Flow Margin	-7.98	4.42	12.04	-34.02	17.26
Unlevered Free Cash Flow Margin	6	10.54	16.76	-29.92	21.05
Asset Turnover
Asset Turnover	0.08	0.15	0.18	0.24	0.22
Fixed Assets Turnover	0.13	0.24	0.3	0.35	0.3
Receivables Turnover (Average Receivables)	5.82	16.18	41.47	40.72	20.74
Inventory Turnover (Average Inventory)	13.38	20.31	20.35	33.03	23.17
Short Term Liquidity
Current Ratio	0.86	0.51	0.53	0.64	0.85
Quick Ratio	0.77	0.38	0.38	0.39	0.54
Operating Cash Flow to Current Liabilities	0.52	0.68	0.63	1.25	0.3
Days Sales Outstanding (Average Receivables)	62.74	22.56	8.8	8.99	17.6
Days Outstanding Inventory (Average Inventory)	27.27	17.97	17.94	11.08	15.75
Average Days Payable Outstanding	168.79	93.77	74.48	57.56	69.53
Cash Conversion Cycle (Average Days)	-78.78	-53.24	-47.74	-37.49	-36.18
Long Term Solvency
Total Debt/Equity	32.12	19.57	15.54	13.07	12.43
Total Debt / Total Capital	24.31	16.37	13.45	11.56	11.06
LT Debt/Equity	20.29	10.76	9.06	7.34	7.8
Long-Term Debt / Total Capital	15.36	9	7.84	6.49	6.94
Total Liabilities / Total Assets	40.08	36.94	38.38	34.19	31.99
EBIT / Interest Expense	0.47	2.5	2.79	2.17	2.76
EBITDA / Interest Expense	1.26	3.52	5.29	5.46	6.14
(EBITDA - Capex) / Interest Expense	-0.43	-0.74	2.65	-2.2	5.57
Total Debt / EBITDA	11.94	2.92	1.46	1.05	1.08
Net Debt / EBITDA	7.71	1.96	0.92	0.74	0.72
Total Debt / (EBITDA - Capex)	-35.02	-13.79	2.91	-2.6	1.19
Net Debt / (EBITDA - Capex)	-22.61	-9.27	1.83	-1.85	0.8
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	139.96	233.72	49	41.29	-1.32
Gross Profit, 1 Yr. Growth %	4.45K	229.67	74.32	2.92	-7.33
EBITDA, 1 Yr. Growth %	-1.43K	340.73	74.96	29.68	0.74
EBITA, 1 Yr. Growth %	-164	672.48	42.85	-4	15.57
EBIT, 1 Yr. Growth %	-163.63	674.7	42.98	-4.23	15.45
Earnings From Cont. Operations, 1 Yr. Growth %	-309.7	189.49	23.65	-24.16	-44.95
Net Income, 1 Yr. Growth %	-285.9	192.51	45.8	-18.41	-51.56
Normalized Net Income, 1 Yr. Growth %	-311.34	93.35	403.45	-28.17	-64.63
Diluted EPS Before Extra, 1 Yr. Growth %	-234.73	190.82	22.77	-17.15	-46.2
Accounts Receivable, 1 Yr. Growth %	61.91	-5.84	-63.91	342.61	37.54
Inventory, 1 Yr. Growth %	65.71	154.95	22.91	-13.98	44.79
Net Property, Plant and Equip., 1 Yr. Growth %	126.53	50.25	21.63	11.18	22.53
Total Assets, 1 Yr. Growth %	134.39	54.72	23.26	6.15	7.34
Tangible Book Value, 1 Yr. Growth %	143.76	62.72	18.4	8.78	11.03
Common Equity, 1 Yr. Growth %	145.09	62.89	18.49	8.86	11.04
Cash From Operations, 1 Yr. Growth %	750.49	144.59	-28.53	89.71	-73.7
Capital Expenditures, 1 Yr. Growth %	59.86	266.62	1.6	181.19	-93.06
Levered Free Cash Flow, 1 Yr. Growth %	-72.69	-284.18	22.63	-459.41	-159.23
Unlevered Free Cash Flow, 1 Yr. Growth %	-131.57	490.14	21.37	-333.53	-184.26
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	4.7	182.98	206.36	74.34	35.1
Gross Profit, 2 Yr. CAGR %	16.96	1.12K	219.42	60.95	11.74
EBITDA, 2 Yr. CAGR %	-3.41	665.37	268.71	80.97	30.76
EBITA, 2 Yr. CAGR %	-13.92	122.34	332.49	40.74	20.51
EBIT, 2 Yr. CAGR %	-13.56	122.03	333.11	40.6	20.3
Earnings From Cont. Operations, 2 Yr. CAGR %	237.85	146.38	63.71	16.36	-26.08
Net Income, 2 Yr. CAGR %	245.05	133.19	56.55	31.05	-28.07
Normalized Net Income, 2 Yr. CAGR %	175.21	102.15	84.11	128.51	-42.33
Diluted EPS Before Extra, 2 Yr. CAGR %	201.38	97.94	43.24	21.18	-23.62
Accounts Receivable, 2 Yr. CAGR %	4.6	23.47	-24.84	51.87	182.28
Inventory, 2 Yr. CAGR %	23.23	105.54	127.71	23.55	44.09
Net Property, Plant and Equip., 2 Yr. CAGR %	52.1	84.49	78.55	41.32	33.53
Total Assets, 2 Yr. CAGR %	53.87	90.43	80.44	34.28	22.12
Tangible Book Value, 2 Yr. CAGR %	48.11	99.16	83.19	36.37	25.73
Common Equity, 2 Yr. CAGR %	48.53	99.8	83.73	36.46	25.78
Cash From Operations, 2 Yr. CAGR %	62.23	356.09	100.39	39.92	-27.54
Capital Expenditures, 2 Yr. CAGR %	53.05	142.22	121.76	129.03	-49.8
Levered Free Cash Flow, 2 Yr. CAGR %	-28.78	-28.9	275.35	165.93	53.47
Unlevered Free Cash Flow, 2 Yr. CAGR %	-51.37	36.03	413.6	110.22	45.69
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	9.66	54.08	182.4	167.52	57.76
Gross Profit, 3 Yr. CAGR %	14.51	65.21	674.17	147.51	46.47
EBITDA, 3 Yr. CAGR %	-0.85	60.2	465.34	194.13	62.84
EBITA, 3 Yr. CAGR %	-14.39	78.88	128.75	196	44.16
EBIT, 3 Yr. CAGR %	-14.39	79.55	128.54	196.01	44.02
Earnings From Cont. Operations, 3 Yr. CAGR %	55.07	220.89	77.79	43.17	-0.82
Net Income, 3 Yr. CAGR %	51.86	226.57	65.78	42.39	2.88
Normalized Net Income, 3 Yr. CAGR %	48.87	144.66	92.78	52.06	34.21
Diluted EPS Before Extra, 3 Yr. CAGR %	61	197.82	40.35	34.89	1.12
Accounts Receivable, 3 Yr. CAGR %	-8.59	0.99	-2.93	53.4	60.73
Inventory, 3 Yr. CAGR %	20.65	57.02	104.82	86.05	54.45
Net Property, Plant and Equip., 3 Yr. CAGR %	42.3	51.48	93.29	73.63	47.4
Total Assets, 3 Yr. CAGR %	41.61	54.15	96.88	68.25	36.32
Tangible Book Value, 3 Yr. CAGR %	35.71	52.83	101.49	74.03	39.29
Common Equity, 3 Yr. CAGR %	35.96	53.17	102.25	74.41	39.36
Cash From Operations, 3 Yr. CAGR %	73.08	86.02	224.45	122.39	-18.48
Capital Expenditures, 3 Yr. CAGR %	16.61	104.86	98.91	193.91	-22.25
Levered Free Cash Flow, 3 Yr. CAGR %	-10.99	-2.07	56.96	333.12	66.72
Unlevered Free Cash Flow, 3 Yr. CAGR %	16.92	11.49	102.23	357.97	58.96
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	16.47	38.94	65.39	83.82	126.3
Gross Profit, 5 Yr. CAGR %	16.95	38.33	72.61	83.38	284.13
EBITDA, 5 Yr. CAGR %	16.08	42.57	67.67	88.4	238.73
EBITA, 5 Yr. CAGR %	11.91	47.26	63.64	80.61	90.53
EBIT, 5 Yr. CAGR %	12.03	47.39	63.74	80.91	90.28
Earnings From Cont. Operations, 5 Yr. CAGR %	173.31	56.29	58.47	101.83	34.7
Net Income, 5 Yr. CAGR %	106.63	53.52	53.72	102.88	27.75
Normalized Net Income, 5 Yr. CAGR %	183.21	41.55	62.07	92.78	28.03
Diluted EPS Before Extra, 5 Yr. CAGR %	92.69	48.94	53.65	86.05	18.42
Accounts Receivable, 5 Yr. CAGR %	0.07	-4.95	-15.47	31.61	60.11
Inventory, 5 Yr. CAGR %	15.86	37.16	55.55	57.78	91.5
Net Property, Plant and Equip., 5 Yr. CAGR %	46.36	44.57	55.82	64.67	80.23
Total Assets, 5 Yr. CAGR %	41.98	44.22	56.02	62.34	73.42
Tangible Book Value, 5 Yr. CAGR %	52.74	41.15	53.01	63.16	79.57
Common Equity, 5 Yr. CAGR %	52.84	41.32	53.36	63.56	80.01
Cash From Operations, 5 Yr. CAGR %	153.72	60.61	83.53	96.03	91.7
Capital Expenditures, 5 Yr. CAGR %	24.05	49.53	50.83	126.44	29.49
Levered Free Cash Flow, 5 Yr. CAGR %	5.1	6.21	58.45	110.6	70.98
Unlevered Free Cash Flow, 5 Yr. CAGR %	-0.63	39.31	111.05	86.49	93.85