HOSXF (Haci Omerbanci Holding AS) Beneish M-Score: -2.47 (As of Jul. 11, 2026)


HOSXF Haci Omer Sabanci Holding AS HOSXF
67 GF Score
Price $0.27
GF Value $0.27
! 5 Warning Signs
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What is Haci Omerbanci Holding AS Beneish M-Score?

Haci Omerbanci Holding AS HOSXF 67 Beneish M-Score is -2.47 as of Jul. 11, 2026. GuruFocus rates HOSXF with a GF Score™ of 67/100 and a GF Value™ of $0.27. The stock has 5 warning signs investors should review. Among 1,395 Banks companies, Haci Omerbanci Holding AS ranks better than 64.16% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.47 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Haci Omerbanci Holding AS's Beneish M-Score or its related term are showing as below:

HOSXF' s Beneish M-Score Range Over the Past 10 Years
Min: -3   Med: -2.26   Max: 1.94
Current: -2.47

During the past 13 years, the highest Beneish M-Score of Haci Omerbanci Holding AS was 1.94. The lowest was -3.00. And the median was -2.26.

HOSXF
67GF Score
Haci Omer Sabanci Holding AS HOSXF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Haci Omerbanci Holding AS Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Haci Omerbanci Holding AS for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 1+0.528 * 1+0.404 * 0.9977+0.892 * 0.8405+0.115 * 1.2798
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.989+4.679 * 0.012738-0.327 * 1.2286
=-2.60

* 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:
Total Receivables was $0 Mil.
Revenue was 3500.813 + 3559.536 + 3025.349 + 2828.956 = $12,915 Mil.
Gross Profit was 3500.813 + 3559.536 + 3025.349 + 2828.956 = $12,915 Mil.
Total Current Assets was $0 Mil.
Total Assets was $95,929 Mil.
Property, Plant and Equipment(Net PPE) was $3,839 Mil.
Depreciation, Depletion and Amortization(DDA) was $692 Mil.
Selling, General, & Admin. Expense(SGA) was $1,747 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $13,858 Mil.
Net Income was 7.194 + 107.446 + 16.443 + 44.471 = $176 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 173.836 + 3645.019 + -1789.63 + -3075.602 = $-1,046 Mil.
 Total Receivables was $0 Mil.
Revenue was 4136.699 + 4144.924 + 3552.916 + 3530.692 = $15,365 Mil.
Gross Profit was 4136.699 + 4144.924 + 3552.916 + 3530.692 = $15,365 Mil.
Total Current Assets was $0 Mil.
Total Assets was $89,020 Mil.
Property, Plant and Equipment(Net PPE) was $3,366 Mil.
Depreciation, Depletion and Amortization(DDA) was $818 Mil.
Selling, General, & Admin. Expense(SGA) was $2,102 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $10,467 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(0 / 12914.654) / (0 / 15365.231)
=0 / 0
=1

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(15365.231 / 15365.231) / (12914.654 / 12914.654)
=1 / 1
=1

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (0 + 3838.959) / 95928.755) / (1 - (0 + 3365.938) / 89019.64)
=0.959981 / 0.962189
=0.9977

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=12914.654 / 15365.231
=0.8405

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(817.859 / (817.859 + 3365.938)) / (692.069 / (692.069 + 3838.959))
=0.195482 / 0.15274
=1.2798

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(1747.075 / 12914.654) / (2101.758 / 15365.231)
=0.135278 / 0.136787
=0.989

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((13857.586 + 0) / 95928.755) / ((10466.894 + 0) / 89019.64)
=0.144457 / 0.11758
=1.2286

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(175.554 - 0 - -1046.377) / 95928.755
=0.012738

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Haci Omerbanci Holding AS has a M-score of -2.60 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.47 mean?
Haci Omerbanci Holding AS (HOSXF) has a Beneish M-Score of -2.47 as of Jul. 11, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Haci Omerbanci Holding AS and its competitors. According to the industry distribution chart, Haci Omerbanci Holding AS ranks #500 out of 1395 companies in the Banks industry, placing it in the top 35.8%.
Is Haci Omerbanci Holding AS's Beneish M-Score too high?
Haci Omerbanci Holding AS's current Beneish M-Score is -2.47. Based on the distribution chart, Haci Omerbanci Holding AS ranks #500 out of 1395 companies in the Banks industry, which is above the industry midpoint. Overall, Haci Omerbanci Holding AS has a GF Score™ of 67/100, reflecting its overall financial health beyond just this single metric.
How does Haci Omerbanci Holding AS's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, Haci Omerbanci Holding AS ranks #500 out of 1395 companies for Beneish M-Score. This puts Haci Omerbanci Holding AS in the upper half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Banks company?
A good Beneish M-Score depends on the Banks industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Haci Omerbanci Holding AS and its competitors. Haci Omerbanci Holding AS's current Beneish M-Score is -2.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Haci Omerbanci Holding AS stock overvalued right now?
Haci Omerbanci Holding AS (HOSXF) has a current Beneish M-Score of -2.47. The stock's GF Value™ is $0.27, compared to a current price of $0.27 — trading right at its estimated fair value. The current Beneish M-Score is -2.47. Haci Omerbanci Holding AS's overall GF Score™ is 67/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Haci Omerbanci Holding AS (HOSXF), the current Beneish M-Score is -2.47 as of Jul. 11, 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 Haci Omerbanci Holding AS (HOSXF) Overvalued in 2026?

Based on GuruFocus' analysis, Haci Omerbanci Holding AS stock appears to be undervalued. The current stock price of $0.27 is trading 0% below its estimated GF Value™ of $0.27.

Key valuation signals for HOSXF:

  • Beneish M-Score: -2.47
  • GF Value™: $0.27 vs. price of $0.27 (0% below fair value)
  • GF Score™: 67/100 with 5 warning signs

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

Haci Omerbanci Holding AS Business Description

Other Exchanges SAHOL:Turkey
Address Sabanci Center, 4. Levent, Istanbul, TUR, 34330
Haci Omer Sabanci Holding AS is a holding company engaged in a wide variety of business activities through its subsidiaries and affiliates, mainly in the banking, financial services, energy and climate technologies, industrials, building materials, and digital sectors. Its segments are Banking, Financial Services, Energy, Mobility Solutions, Material Technologies, Digital, and Other. It generates the majority of its revenue from the Banking segment.
67GF Score

Get the complete analysis for HOSXF

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

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