%0 Journal Article
%T The Analysis of Financial Performance With Ratio Method: An Implementation On Airline Firms Listed On Borsa Istanbul (BIST)
%A Cevdet K£¿z£¿l
%A Tunay Aslan
%J -
%D 2019
%X This study investigated the financial performance of Borsa £¿stanbul (£¿stanbul Stock Exchange - B£¿ST) listed firms named Turkish Airlines and Pegasus Airlines for the 2013-2017 period with ratio analysis. Balance sheets and income statements were used to analyze the financial performance of two airline firms. The mentioned financial statements of Turkish Airlines and Pegasus Airlines were retrieved from Public Disclosure Platform (KAP). Data gathered from Public Disclosure Platform (KAP) were utilized to calculate 17 ratios parallel to the aim of study. Stock exchange performance ratios were not included to the study and calculations were done using Microsoft (MS) Excel computer program (software). According to the findings of research, liqudity ratios of Turkish Airlines are lower than Pegasus Airlines. Also, net working capital and debt paying performance of Pegasus Airlines is better than Turkish Airlines. In general, it is determined that both firms are running their operations efficiently. Inventory turnover and receivables turnover ratios of Turkish Airlines and Pegasus Airlines are both high, having a steady trend through years. Concerning the assets turnover ratio which measures the efficiency of assets, both firms are successful in general. The debt ratio of Turkish Airlines is higher than Pegasus Airlines. Both firms are financing their fixed assets with long term liabilities and owner¡¯s equity, which is a correct financial decision. When profitability ratios are analyzed, it is seen that profitabilities of Turkish Airlines and Pegasus Airlines fluctuate over the years. Moreover, profitabilities of both firms are close to each other. Furthermore, both companies are profitable in terms of main area of activity. Turkish Airlines experiences problems regarding the current ratio. It is also observed that, debt ratios of both firms are high. When the two airline firms are compared, it is realized that financial performance of Pegasus Airlines is higher than Turkish Airlines, making it more attractive for investment
%K Muhasebe
%K Finans
%K Oran Analizi
%K BIST
%K Havayolu £¿irketleri
%U http://dergipark.org.tr/mjss/issue/44816/467997