
Analysis of the Financial Situation of Foreign Trade Capital Companies
Chapter from the book:
Ok Ergün,
H.
(ed.)
2025.
Current Research on Financial Performance.
Synopsis
The flow of goods or services from one country to another is called foreign trade or international trade. Since 1980, important decisions have been taken in Türkiye to open up to the outside world. In this context, the Foreign Trade Capital Company model was developed in order to increase exports and organize companies for export. Foreign Trade Capital Companies offer various benefits to the companies they work with in terms of intermediary services, export-import activities and financing. Therefore, Foreign Trade Capital Companies play an important role in promoting and increasing exports. The aim of this study is to analyze the financial status of 15 Foreign Trade Capital Companies that have Foreign Trade Capital Company status in Türkiye in the period 2021-2023 and are listed on Borsa Istanbul. The annual data of the companies in the relevant period were evaluated within the framework of the ratio analysis and the Altman z-score model. Liquidity ratios, financial structure ratios, activity ratios, profitability ratios and growth rates were used to analyse the ratios in the study. As a result of the study, it was found that some companies have lower liquidity ratios than others, that some companies finance almost all of their assets with debt, that some companies have higher inventory turnover and receivables turnover than others, that some companies have higher profitability than others, and that many companies had significant growth in sales and assets in 2022, but this growth rate decreased in 2023. In addition, it was found that only one company was at risk of financial failure in 2021, while the other companies were not at risk of financial failure.