Added to YB: 2026-07-15
Pitch date: 2026-07-12
TAVHL.IS [bullish]
TAV Havalimanlari Holding A.S.
-2.54%
current return
Author Info
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Company Info
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.
Market Cap
TRY 94.4B
Pitch Price
TRY 265.25
Price Target
520.00 (+101%)
Dividend
1.39%
EV/EBITDA
8.42
P/E
59.52
EV/Sales
2.17
Sector
Transportation Infrastructure
Category
value
TAV Airports (TAVHL). They Bought an Airport With Zero Passengers. Then a Mob Stormed It.
TAVHL.IS: Turkish airport operator owns Almaty outright (no concession expiry), bought $365M pandemic-bottom, now worth $3-5B. 2025: rev $2B (+10%), EBITDA $600M (+14%), FCF +44%. Pabrai owns 5%+. Kill-test DCF = current price (floor); realistic case 4x equity in cash 15yrs + 14 free airports. Trades 7x vs peers 10-13x. Risks: $1.8B debt, $7.8B Antalya bet, ADP controls board, Turkey/EM discount, rerating may take a decade. Stock -30% in USD.
Read full article (11 min)