Atlantis Yatirim Holding AS (IST:ATSYH) Beneish M-Score: 0.00 (As of Jun. 25, 2026)

What is Atlantis Yatirim Holding AS Beneish M-Score?

Atlantis Yatirim Holding AS IST:ATSYH +3.30% 5 Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus rates IST:ATSYH with a GF Score™ of 5/100.

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.

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

During the past 13 years, the highest Beneish M-Score of Atlantis Yatirim Holding AS was 0.00. The lowest was 0.00. And the median was 0.00.

Atlantis Yatirim Holding AS Beneish M-Score Related Terms

Atlantis Yatirim Holding AS Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Atlantis Yatirim Holding 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.

Atlantis Yatirim Holding AS Beneish M-Score Chart

Atlantis Yatirim Holding AS Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Beneish M-Score

Get a 7-Day Free Trial

-1.73

-0.97

-2.04

-1.64

-1.47

Atlantis Yatirim Holding AS Quarterly Data
	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23
Beneish M-Score	Get a 7-Day Free Trial															-2.10	0.00	-1.47	-1.66	0.00

IST:ATSYH vs RL, VFC, LEVI: Beneish M-Score Comparison

For the Apparel Manufacturing subindustry, Atlantis Yatirim Holding 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.

Atlantis Yatirim Holding AS Beneish M-Score vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Atlantis Yatirim Holding AS's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Atlantis Yatirim Holding AS's Beneish M-Score falls into.

Save Embed

5GF Score

Atlantis Yatirim Holding AS IST:ATSYH

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

View Full Analysis

Atlantis Yatirim 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 Atlantis Yatirim Holding AS for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.8703

0.528 * 0.1698

0.404 * 0.6597

0.892 * 1.4541

0.115 * 1.3895

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.6439

4.679 * 0.282212

0.327 * 0.6808

-1.41

This Year (Jun23) TTM:

Last Year (Jun22) TTM:

Total Receivables was ₺23.51 Mil.
Revenue was 9.44 + 20.207 + 16.864 + 14.983 = ₺61.49 Mil.
Gross Profit was 2.154 + 3.395 + 5.774 + 12.108 = ₺23.43 Mil.
Total Current Assets was ₺37.15 Mil.
Total Assets was ₺45.07 Mil.
Property, Plant and Equipment(Net PPE) was ₺0.12 Mil.
Depreciation, Depletion and Amortization(DDA) was ₺0.08 Mil.
Selling, General, & Admin. Expense(SGA) was ₺1.24 Mil.
Total Current Liabilities was ₺23.14 Mil.
Long-Term Debt & Capital Lease Obligation was ₺0.01 Mil.
Net Income was 0.811 + 1.826 + 4.351 + 5.7 = ₺12.69 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₺0.00 Mil.
Cash Flow from Operations was -0.03 + 0.007 + 0.009 + -0.017 = ₺-0.03 Mil.

Total Receivables was ₺18.58 Mil.
Revenue was 7.863 + 11.645 + 14.2 + 8.582 = ₺42.29 Mil.
Gross Profit was 0.546 + 0.455 + 0.508 + 1.227 = ₺2.74 Mil.
Total Current Assets was ₺21.36 Mil.
Total Assets was ₺29.13 Mil.
Property, Plant and Equipment(Net PPE) was ₺0.13 Mil.
Depreciation, Depletion and Amortization(DDA) was ₺0.15 Mil.
Selling, General, & Admin. Expense(SGA) was ₺0.52 Mil.
Total Current Liabilities was ₺21.97 Mil.
Long-Term Debt & Capital Lease Obligation was ₺0.01 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)
	=	(23.509 / 61.494)	/	(18.577 / 42.29)
	=	0.382297	/	0.439276
	=	0.8703

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)
	=	(2.736 / 42.29)	/	(23.431 / 61.494)
	=	0.064696	/	0.381029
	=	0.1698

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 - (37.151 + 0.116) / 45.069)	/	(1 - (21.361 + 0.126) / 29.132)
	=	0.173112	/	0.262426
	=	0.6597

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
	=	61.494	/	42.29
	=	1.4541

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))
	=	(0.154 / (0.154 + 0.126))	/	(0.076 / (0.076 + 0.116))
	=	0.55	/	0.395833
	=	1.3895

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)
	=	(1.243 / 61.494)	/	(0.52 / 42.29)
	=	0.020213	/	0.012296
	=	1.6439

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)
	=	((0.01 + 23.14) / 45.069)	/	((0.01 + 21.97) / 29.132)
	=	0.513657	/	0.754497
	=	0.6808

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
	=	(12.688 - 0	-	-0.031)	/	45.069
	=	0.282212

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.

Atlantis Yatirim Holding AS has a M-score of -1.41 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of 0.00 mean?

Atlantis Yatirim Holding AS (IST:ATSYH) has a Beneish M-Score of 0.00 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Atlantis Yatirim Holding AS and its competitors.

Is Atlantis Yatirim Holding AS's Beneish M-Score too high?

Atlantis Yatirim Holding AS's current Beneish M-Score is 0.00. Overall, Atlantis Yatirim Holding AS has a GF Score™ of 5/100, reflecting its overall financial health beyond just this single metric.

How does Atlantis Yatirim Holding AS's Beneish M-Score compare to RL and VFC?

Atlantis Yatirim Holding AS's Beneish M-Score of 0.00 can be compared against companies in the Manufacturing - Apparel & Accessories 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 Manufacturing - Apparel & Accessories company?

A good Beneish M-Score depends on the Manufacturing - Apparel & Accessories 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 Atlantis Yatirim Holding AS and its competitors. Atlantis Yatirim Holding AS's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Atlantis Yatirim Holding AS stock overvalued right now?

Atlantis Yatirim Holding AS (IST:ATSYH) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Atlantis Yatirim Holding AS's overall GF Score™ is 5/100. 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 Atlantis Yatirim Holding AS (IST:ATSYH), the current Beneish M-Score is 0.00 as of Jun. 25, 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.

Atlantis Yatirim Holding AS Business Description

Industry Consumer Cyclical Manufacturing - Apparel & Accessories

Comparable Companies IST:DAGI IST:DERHL OSTO:HM B MIL:MONC RL VFC WAR:LPP LEVI BOM:532827 TSX:GIL SHSE:600398 HKSE:03998 SHSE:600177 COLM PVH TPE:1476 XTER:BOSS BOM:543463 TSE:8111 UAA

Address Caddebostan Quarter Notary Street Taskin, Apartment Building Number 16/2, Kadikoy, Istanbul, TUR

Website http://www.atlantisholding.com.tr

Atlantis Yatirim Holding AS is a portfolio management company. The company provides financial and management services to companies.

5GF Score

Get the complete analysis for IST:ATSYH

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

₺103.30

Price

View IST:ATSYH Analysis

See Beneish M-Score data for all stocks →