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Arcelik ASIST:ARCLK +0.74%80 Beneish M-Score is -2.70 as of Aug. 17, 2026. GuruFocus rates IST:ARCLK with a GF Score™ of 80/100 and a GF Value™ of ₺138.27 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 419 Furnishings, Fixtures & Appliances companies, Arcelik AS ranks better than 62.53% on this metric.
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 -2.7 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Arcelik AS's Beneish M-Score or its related term are showing as below:
IST:ARCLK'
s Beneish M-Score Range Over the Past 10 Years
Min: -3 Med: -2.21 Max: -0.11
Current: -2.7
During the past 13 years, the highest Beneish M-Score of Arcelik AS was -0.11. The lowest was -3.00. And the median was -2.21.
The historical data trend for Arcelik AS's Beneish M-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.
IST:ARCLK vs SN, SGI, MHK: Beneish M-Score Comparison
For the Furnishings, Fixtures & Appliances subindustry, Arcelik AS's Beneish M-Score, along with its competitors' market caps and Beneish M-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.
Arcelik AS Beneish M-Score vs Furnishings, Fixtures & Appliances Industry
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Arcelik AS's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Arcelik AS's Beneish M-Score falls into.
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 Arcelik 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 * 1.2195
+
0.528 * 0.9427
+
0.404 * 0.9205
+
0.892 * 0.8969
+
0.115 * 1.3582
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0493
+
4.679 * -0.060846
-
0.327 * 1.0457
=
-2.70
* 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.
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.
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))
=
(26404.816 / (26404.816 + 109810.807))
/
(20423.42 / (20423.42 + 122673.638))
=
0.193846
/
0.142724
=
1.3582
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
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
=
(-2354.419 - 0
-
33863.654)
/
595244.279
=
-0.060846
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.
Arcelik AS has a M-score of -2.70 suggests that the company is unlikely to be a manipulator.
Arcelik AS (IST:ARCLK) has a Beneish M-Score of -2.70 as of Aug. 17, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Arcelik AS and its competitors. According to the industry distribution chart, Arcelik AS ranks #157 out of 419 companies in the Furnishings, Fixtures & Appliances industry, placing it in the top 37.5%.
Is Arcelik AS's Beneish M-Score too high?
Arcelik AS's current Beneish M-Score is -2.70. Based on the distribution chart, Arcelik AS ranks #157 out of 419 companies in the Furnishings, Fixtures & Appliances industry, which is above the industry midpoint. Overall, Arcelik AS has a GF Score™ of 80/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Arcelik AS's Beneish M-Score compare to SN and SGI?
According to the Furnishings, Fixtures & Appliances industry distribution chart, Arcelik AS ranks #157 out of 419 companies for Beneish M-Score. This puts Arcelik 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 Furnishings, Fixtures & Appliances company?
A good Beneish M-Score depends on the Furnishings, Fixtures & Appliances 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 Arcelik AS and its competitors. Arcelik AS's current Beneish M-Score is -2.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Arcelik AS stock overvalued right now?
Based on GuruFocus' analysis, Arcelik AS (IST:ARCLK) is currently considered Possible Value Trap. The stock's GF Value™ is ₺138.27, compared to a current price of ₺95.35 — trading 31% below its estimated fair value. The current Beneish M-Score is -2.70. Arcelik AS's overall GF Score™ is 80/100 with 7 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 Arcelik AS (IST:ARCLK), the current Beneish M-Score is -2.70 as of Aug. 17, 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 Arcelik AS (IST:ARCLK) Overvalued in 2026?
Based on GuruFocus' analysis, Arcelik AS stock appears to be undervalued.
The current stock price of ₺95.35 is trading 31% below its estimated GF Value™ of ₺138.27.
GuruFocus considers Arcelik AS to be Possible Value Trap.
Key valuation signals for IST:ARCLK:
Beneish M-Score: -2.70
GF Value™: ₺138.27 vs. price of ₺95.35 (31% below fair value)
No single metric tells the full story. See the IST:ARCLK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Arcelik AS is a Turkey-based company that is principally engaged in manufacturing household appliances. Its products consist of consumer durable goods, consumer electronics, kitchen accessories, and small home appliances. It provides after-sale services as well. It supplies products and services under the brands of Altus, Arctic, Arcelik, Beko, Blomberg, Dawlance, Defy, Elektrabregenz, Flavel, Grundig, Leisure, and VoltasBeko among others. The company's reportable segments are White goods and Consumer Electronics. The majority of its revenue is derived from the White goods segment which comprises washing machines, dryers, dishwashers, refrigerators, ovens, cookers, and the services provided for these products. Geographically, key revenue for the company is generated from Europe.
80GF Score
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