Ihlas Yayin Holding (IST:IHYAY) Piotroski F-Score: 5 (As of Jul. 05, 2026) — Near Median


IST:IHYAY Ihlas Yayin Holding IST:IHYAY
39 GF Score
Price ₺1.44
GF Value ₺3.00
Valuation Possible Value Trap
! 3 Warning Signs
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What is Ihlas Yayin Holding Piotroski F-Score?

Ihlas Yayin Holding IST:IHYAY -2.04% 39 Piotroski F-Score is 5 as of Jul. 05, 2026, which is at its 10-year median of 5.00. GuruFocus rates IST:IHYAY with a GF Score™ of 39/100 and a GF Value™ of ₺3.00 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 1,009 Media - Diversified companies, Ihlas Yayin Holding ranks better than 59.96% on this metric.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Ihlas Yayin Holding has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Ihlas Yayin Holding's Piotroski F-Score or its related term are showing as below:

IST:IHYAY' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 7
Current: 5

During the past 13 years, the highest Piotroski F-Score of Ihlas Yayin Holding was 7. The lowest was 2. And the median was 5.

Ihlas Yayin Holding  (IST:IHYAY) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Ihlas Yayin Holding Piotroski F-Score Related Terms


Ihlas Yayin Holding Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Ihlas Yayin Holding's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Ihlas Yayin Holding Piotroski F-Score Chart

Ihlas Yayin Holding Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 3.00 3.00 6.00 6.00

Ihlas Yayin Holding Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 6.00 6.00 6.00 5.00

IST:IHYAY vs NYT, WLY: Piotroski F-Score Comparison

For the Publishing subindustry, Ihlas Yayin Holding's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Ihlas Yayin Holding Piotroski F-Score vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Ihlas Yayin Holding's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Ihlas Yayin Holding's Piotroski F-Score falls into.


IST:IHYAY
39GF Score
Ihlas Yayin Holding IST:IHYAY
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Net Income was -104.453 + -154.647 + 68.98 + -153.934 = ₺-344 Mil.
Cash Flow from Operations was -82.368 + 36.301 + 160.619 + 131.141 = ₺246 Mil.
Revenue was 727.119 + 831.631 + 1001.738 + 850.783 = ₺3,411 Mil.
Gross Profit was 48.971 + 145.142 + 130.809 + 64.42 = ₺389 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(5392.474 + 5648.08 + 6153.197 + 5968.649 + 6399.648) / 5 = ₺5912.4096 Mil.
Total Assets at the begining of this year (Mar25) was ₺5,392 Mil.
Long-Term Debt & Capital Lease Obligation was ₺160 Mil.
Total Current Assets was ₺1,612 Mil.
Total Current Liabilities was ₺794 Mil.
Net Income was -95.94 + -118.194 + 38.215 + -163.005 = ₺-339 Mil.

Revenue was 673.994 + 759.213 + 927.339 + 870.078 = ₺3,231 Mil.
Gross Profit was 95.066 + 96.584 + 136.095 + 72.705 = ₺400 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(3806.479 + 4070.633 + 4283.911 + 6551.242 + 5392.474) / 5 = ₺4820.9478 Mil.
Total Assets at the begining of last year (Mar24) was ₺3,806 Mil.
Long-Term Debt & Capital Lease Obligation was ₺119 Mil.
Total Current Assets was ₺1,188 Mil.
Total Current Liabilities was ₺789 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Ihlas Yayin Holding's current Net Income (TTM) was -344. ==> Negative ==> Score 0.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Ihlas Yayin Holding's current Cash Flow from Operations (TTM) was 246. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar25)
=-344.054/5392.474
=-0.06380263

ROA (Last Year)=Net Income/Total Assets (Mar24)
=-338.924/3806.479
=-0.08903872

Ihlas Yayin Holding's return on assets of this year was -0.06380263. Ihlas Yayin Holding's return on assets of last year was -0.08903872. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Ihlas Yayin Holding's current Net Income (TTM) was -344. Ihlas Yayin Holding's current Cash Flow from Operations (TTM) was 246. ==> 246 > -344 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar25 to Mar26
=160.415/5912.4096
=0.02713192

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=119.409/4820.9478
=0.02476878

Ihlas Yayin Holding's gearing of this year was 0.02713192. Ihlas Yayin Holding's gearing of last year was 0.02476878. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar26)=Total Current Assets/Total Current Liabilities
=1612.381/793.881
=2.03101094

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=1188.219/788.588
=1.50676779

Ihlas Yayin Holding's current ratio of this year was 2.03101094. Ihlas Yayin Holding's current ratio of last year was 1.50676779. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Ihlas Yayin Holding's number of shares in issue this year was 450.099. Ihlas Yayin Holding's number of shares in issue last year was 450.291. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=389.342/3411.271
=0.114134

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=400.45/3230.624
=0.12395438

Ihlas Yayin Holding's gross margin of this year was 0.114134. Ihlas Yayin Holding's gross margin of last year was 0.12395438. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar25)
=3411.271/5392.474
=0.63259851

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=3230.624/3806.479
=0.84871715

Ihlas Yayin Holding's asset turnover of this year was 0.63259851. Ihlas Yayin Holding's asset turnover of last year was 0.84871715. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+1+1+1+0+1+1+0+0
=5

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Ihlas Yayin Holding has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 5 mean?
Ihlas Yayin Holding (IST:IHYAY) has a Piotroski F-Score of 5 as of Jul. 05, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Ihlas Yayin Holding and its competitors. This is near median its historical median of 5.00. Over the past decade, Ihlas Yayin Holding's Piotroski F-Score has ranged from 2.00 to 7.00. According to the industry distribution chart, Ihlas Yayin Holding ranks #404 out of 1009 companies in the Media - Diversified industry, placing it in the top 40%.
Is Ihlas Yayin Holding's Piotroski F-Score too high?
Ihlas Yayin Holding's current Piotroski F-Score of 5 is near median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 7.00. The Media - Diversified industry median Piotroski F-Score is 5.00. Ihlas Yayin Holding's value of 5 is 0% at this industry median. Based on the distribution chart, Ihlas Yayin Holding ranks #404 out of 1009 companies in the Media - Diversified industry, which is above the industry midpoint. Overall, Ihlas Yayin Holding has a GF Score™ of 39/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Ihlas Yayin Holding's Piotroski F-Score compare to NYT and WLY?
According to the Media - Diversified industry distribution chart, Ihlas Yayin Holding ranks #404 out of 1009 companies for Piotroski F-Score. This puts Ihlas Yayin Holding in the upper half of its industry. The industry median Piotroski F-Score is 5.00. Ihlas Yayin Holding's value of 5 is 0% at this benchmark. Historically, Ihlas Yayin Holding's own Piotroski F-Score has ranged from 2.00 to 7.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Ihlas Yayin Holding has consistently been at the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Media - Diversified company?
The median Piotroski F-Score among Media - Diversified companies is 5.00, based on 1,009 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Ihlas Yayin Holding's current Piotroski F-Score of 5 is 0% at the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Ihlas Yayin Holding and its competitors. For the Media - Diversified industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ihlas Yayin Holding's current Piotroski F-Score is 5, which is near median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ihlas Yayin Holding stock overvalued right now?
Based on GuruFocus' analysis, Ihlas Yayin Holding (IST:IHYAY) is currently considered Possible Value Trap. The stock's GF Value™ is ₺3.00, compared to a current price of ₺1.44 — trading 52% below its estimated fair value. The current Piotroski F-Score is 5, which is near median its 10-year median of 5.00 and 0% at the Media - Diversified industry median of 5.00. Ihlas Yayin Holding's overall GF Score™ is 39/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Ihlas Yayin Holding (IST:IHYAY), the current Piotroski F-Score is 5 as of Jul. 05, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Ihlas Yayin Holding (IST:IHYAY) Overvalued in 2026?

Based on GuruFocus' analysis, Ihlas Yayin Holding stock appears to be undervalued. The current stock price of ₺1.44 is trading 52% below its estimated GF Value™ of ₺3.00. GuruFocus considers Ihlas Yayin Holding to be Possible Value Trap.

Key valuation signals for IST:IHYAY:

  • Piotroski F-Score: 5 (near median its 10-year median of 5.00)
  • GF Value™: ₺3.00 vs. price of ₺1.44 (52% below fair value)
  • GF Score™: 39/100 with 3 warning signs
  • Industry Position: 0% at the Media - Diversified median (#404 of 1009)

No single metric tells the full story. See the IST:IHYAY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Ihlas Yayin Holding Business Description

Address hlas Plaza No:11 B/31, Merkez Mahallesi 29 Ekim Caddesi, Yenibosna-Bahcelievler, Istanbul, TUR, 34197
Ihlas Yayin Holding is a multimedia holding company. It is engaged in offering services in media sector which include radio programs broadcasting, publishing newspapers and magazines, television, news, and communications.
39GF Score

Get the complete analysis for IST:IHYAY

Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₺1.44
Price
₺3.00
GF Value