Pegasus Airlines Valuation Multiples

Pegasus Airlines Overview

About Pegasus Airlines

Pegasus Hava Tasimaciligi AS is one of the leading airlines in Turkey. It provides domestic and international routes and focuses on providing high-frequency services on short- and medium-haul flights. Scheduled and chartered flights are offered, and the company generates additional revenues by providing ancillary services. In-flight beverages and food, excess baggage, reservation changes, seat selection, and other services are provided to customers at an extra charge. The company is managed as a single business unit, and resource-allocation decisions are based on the entire route network. Approximately half of the total revenue is derived from international scheduled flights. Destinations across Europe make up the majority of international flights.

Founded

1990

HQ

Employees

7.7K

Website

flypgs.com

Sectors

Airlines

Financials (LTM)

Revenue: $4B

EBITDA: $946M

EV

$6B

Valuation Multiples

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Pegasus Airlines Financials

Pegasus Airlines reported last 12-month revenue of $4B and EBITDA of $946M.

In the same LTM period, Pegasus Airlines generated $946M in EBITDA and $323M in net income.

Pegasus Airlines P&L

In the most recent fiscal year, Pegasus Airlines reported revenue of $4B and EBITDA of $957M.

Pegasus Airlines expects next 12-month revenue of XXX and NTM EBITDA of XXX

Pegasus Airlines Stock Performance

Pegasus Airlines has current market cap of $2B, and enterprise value of $6B.

Pegasus Airlines' stock price is $4.39.

Pegasus Airlines Valuation Multiples

Pegasus Airlines trades at 1.6x EV/Revenue multiple, and 6.1x EV/EBITDA.

Pegasus Airlines Financial Valuation Multiples

As of April 20, 2026, Pegasus Airlines has market cap of $2B and EV of $6B.

Equity research analysts estimate Pegasus Airlines' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Pegasus Airlines has a P/E ratio of 6.8x.

Pegasus Airlines Margins & Growth Rates

Pegasus Airlines' revenue in the last 12 month grew by 15%.

Pegasus Airlines' revenue per employee in the last FY averaged $0.5M, while opex per employee averaged $0.0M for the same period.

Pegasus Airlines' rule of 40 is 50% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Pegasus Airlines' rule of X is 84% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Pegasus Airlines Public Comps

See public comps and valuation multiples for other Airlines comps.

Pegasus Airlines M&A Activity

Pegasus Airlines acquired XXX companies to date.

Last acquisition by Pegasus Airlines was on XXXXXXXX, XXXXX. Pegasus Airlines acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

Pegasus Airlines Investment Activity

Pegasus Airlines invested in XXX companies to date.

Pegasus Airlines made its latest investment on XXXXXXXX, XXXXX. Pegasus Airlines invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).