PEGASUS HAVA TASIMACILIGI ANONIM SIRKETI |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,020 TRY | +4.72% |
|
+10.69% | +57.04% |
| Mar. 04 | Pegasus Hava Tasimaciligi Anonim Sirketi Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
| Jan. 19 | Airlines suspend Israel flights | RE |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 8,839 | 7,632 | 8,690 | 49,104 | 66,444 | 104,346 | - | - |
| Enterprise Value (EV) 1 | 15,256 | 23,038 | 38,380 | 97,284 | 66,444 | 196,287 | 208,949 | 206,034 |
| P/E ratio | 6.63 x | -3.88 x | -4.41 x | 6.92 x | 3.18 x | 8.2 x | 6.5 x | 6.24 x |
| Yield | - | - | - | - | - | - | - | - |
| Capitalization / Revenue | 0.8 x | 1.59 x | 0.81 x | 1.15 x | 0.94 x | 1 x | 0.77 x | 0.68 x |
| EV / Revenue | 1.38 x | 4.8 x | 3.6 x | 2.28 x | 0.94 x | 1.89 x | 1.55 x | 1.33 x |
| EV / EBITDA | 4.23 x | 47.9 x | 16.9 x | 6.9 x | 3.07 x | 6.31 x | 4.58 x | 4.28 x |
| EV / FCF | 5.04 x | - | -1,261 x | 10.9 x | - | 12.3 x | 18.7 x | 8.44 x |
| FCF Yield | 19.8% | - | -0.08% | 9.19% | - | 8.15% | 5.36% | 11.8% |
| Price to Book | 1.65 x | 1.42 x | 1.28 x | 2.72 x | - | 1.46 x | 1 x | 0.79 x |
| Nbr of stocks (in thousands) | 102,300 | 102,300 | 102,300 | 102,300 | 102,300 | 102,300 | - | - |
| Reference price 2 | 86.40 | 74.60 | 84.95 | 480.0 | 649.5 | 1,020 | 1,020 | 1,020 |
| Announcement Date | 3/3/20 | 3/4/21 | 3/4/22 | 3/6/23 | 3/4/24 | - | - | - |
1TRY in Million2TRY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 11,025 | 4,804 | 10,664 | 42,732 | 70,532 | 104,119 | 134,821 | 154,351 |
| EBITDA 1 | 3,610 | 481.3 | 2,271 | 14,099 | 21,626 | 31,129 | 45,616 | 48,123 |
| EBIT 1 | 2,062 | -1,702 | -545.5 | 9,634 | 13,823 | 18,192 | 21,852 | 29,946 |
| Operating Margin | 18.7% | -35.43% | -5.11% | 22.55% | 19.6% | 17.47% | 16.21% | 19.4% |
| Earnings before Tax (EBT) 1 | 1,394 | -2,025 | -2,057 | 6,619 | 10,115 | 10,613 | 15,207 | 22,633 |
| Net income 1 | 1,333 | -1,965 | -1,972 | 7,100 | 20,908 | 9,209 | 15,137 | 18,106 |
| Net margin | 12.09% | -40.91% | -18.5% | 16.62% | 29.64% | 8.84% | 11.23% | 11.73% |
| EPS 2 | 13.03 | -19.21 | -19.28 | 69.41 | 204.4 | 124.4 | 157.0 | 163.4 |
| Free Cash Flow 1 | 3,026 | - | -30.44 | 8,940 | - | 16,001 | 11,196 | 24,405 |
| FCF margin | 27.45% | - | -0.29% | 20.92% | - | 15.37% | 8.3% | 15.81% |
| FCF Conversion (EBITDA) | 83.83% | - | - | 63.41% | - | 51.4% | 24.54% | 50.71% |
| FCF Conversion (Net income) | 226.95% | - | - | 125.91% | - | 173.75% | 73.97% | 134.79% |
| Dividend per Share | - | - | - | - | - | - | - | - |
| Announcement Date | 3/3/20 | 3/4/21 | 3/4/22 | 3/6/23 | 3/4/24 | - | - | - |
1TRY in Million2TRY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,538 | 3,492 | 4,064 | 8,351 | 17,840 | 12,477 | 8,793 | 15,109 | 28,073 | 18,557 |
| EBITDA 1 | 1,739 | 477.7 | 342.1 | 1,594 | 8,198 | 3,966 | 1,204 | 4,748 | 12,056 | 3,618 |
| EBIT | - | - | - | - | - | - | - | - | - | - |
| Operating Margin | - | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - |
| Net income 1 | 592.9 | -969.7 | -1,100 | -790.5 | 4,838 | 4,152 | -598.1 | 1,925 | 7,719 | 11,861 |
| Net margin | 13.07% | -27.77% | -27.06% | -9.47% | 27.12% | 33.28% | -6.8% | 12.74% | 27.5% | 63.92% |
| EPS | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/9/21 | 3/4/22 | 5/10/22 | 8/15/22 | 11/9/22 | 3/6/23 | 5/10/23 | 8/14/23 | 11/8/23 | 3/4/24 |
1TRY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 6,417 | 15,407 | 29,689 | 48,180 | - | 91,942 | 104,603 | 101,688 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.778 x | 32.01 x | 13.07 x | 3.417 x | - | 2.954 x | 2.293 x | 2.113 x |
| Free Cash Flow 1 | 3,026 | - | -30.4 | 8,940 | - | 16,001 | 11,196 | 24,405 |
| ROE (net income / shareholders' equity) | 29.3% | -36.6% | -32.4% | 57% | - | 21.4% | 18.1% | 14.3% |
| ROA (Net income/ Total Assets) | 7.68% | -7.84% | -4.81% | 9.55% | - | 6.67% | 6.8% | - |
| Assets 1 | 17,362 | 25,065 | 40,984 | 74,383 | - | 138,134 | 222,597 | - |
| Book Value Per Share 2 | 52.20 | 52.70 | 66.50 | 176.0 | - | 696.0 | 1,018 | 1,286 |
| Cash Flow per Share 2 | 34.90 | 3.740 | 28.00 | 136.0 | - | 363.0 | 247.0 | 295.0 |
| Capex 1 | 148 | - | 3,542 | - | - | 21,373 | 12,043 | 8,028 |
| Capex / Sales | 1.34% | - | 33.21% | - | - | 20.53% | 8.93% | 5.2% |
| Announcement Date | 3/3/20 | 3/4/21 | 3/4/22 | 3/6/23 | 3/4/24 | - | - | - |
1TRY in Million2TRY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
A-
Sell
Buy
Mean consensus
BUY
Number of Analysts
9
Last Close Price
1,020
TRY
Average target price
1,098
TRY
Spread / Average Target
+7.66%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +57.04% | 3.07B | |
| +25.40% | 32.21B | |
| +6.95% | 24.77B | |
| 0.00% | 19.86B | |
| +33.88% | 18.21B | |
| +28.38% | 17.37B | |
| -20.65% | 14.84B | |
| +42.61% | 13.47B | |
| -13.60% | 12.32B | |
| -3.61% | 10.28B |
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- Financials Pegasus Hava Tasimaciligi Anonim Sirketi
