Gediz Ambalajnayi ve Ticaret AS (IST:GEDZA) Beneish M-Score: 0.00 (As of Jul. 17, 2026)

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Gediz Ambalaj Sanayi ve Ticaret AS IST:GEDZA

53 GF Score

Price ₺29.52

GF Value ₺32.07

Valuation Fairly Valued

4 Warning Signs

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What is Gediz Ambalajnayi ve Ticaret AS Beneish M-Score?

Gediz Ambalajnayi ve Ticaret AS IST:GEDZA +0.27% 53 Beneish M-Score is 0.00 as of Jul. 17, 2026. GuruFocus rates IST:GEDZA with a GF Score™ of 53/100 and a GF Value™ of ₺32.07 (Fairly Valued). The stock has 4 warning signs investors should review. Among 1,526 Chemicals companies, Gediz Ambalajnayi ve Ticaret AS ranks worse than 65530.73% 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.

The historical rank and industry rank for Gediz Ambalajnayi ve Ticaret AS's Beneish M-Score or its related term are showing as below:

During the past 5 years, the highest Beneish M-Score of Gediz Ambalajnayi ve Ticaret AS was 32.73. The lowest was -2.40. And the median was -1.42.

Gediz Ambalajnayi ve Ticaret AS Beneish M-Score Related Terms

Gediz Ambalajnayi ve Ticaret AS Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Gediz Ambalajnayi ve Ticaret 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.

Gediz Ambalajnayi ve Ticaret AS Beneish M-Score Chart

Gediz Ambalajnayi ve Ticaret AS Annual Data

Trend

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

0.00

21.43

-1.78

-1.45

-2.40

Gediz Ambalajnayi ve Ticaret AS Quarterly Data
	Jun14	Sep14	Sep15	Dec21	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-1.58	-1.34	-1.60	-2.40	0.00

IST:GEDZA vs LIN, SHW, ECL: Beneish M-Score Comparison

For the Specialty Chemicals subindustry, Gediz Ambalajnayi ve Ticaret 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.

Gediz Ambalajnayi ve Ticaret AS Beneish M-Score vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, Gediz Ambalajnayi ve Ticaret AS's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Gediz Ambalajnayi ve Ticaret AS's Beneish M-Score falls into.

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53GF Score

Gediz Ambalaj Sanayi ve Ticaret AS IST:GEDZA

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

View Full Analysis

Gediz Ambalajnayi ve Ticaret 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 Gediz Ambalajnayi ve Ticaret 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was ₺373 Mil.
Revenue was 312.206 + 279.206 + 253.708 + 271.777 = ₺1,117 Mil.
Gross Profit was 74.625 + 110.538 + 73.969 + 90.347 = ₺349 Mil.
Total Current Assets was ₺953 Mil.
Total Assets was ₺1,775 Mil.
Property, Plant and Equipment(Net PPE) was ₺612 Mil.
Depreciation, Depletion and Amortization(DDA) was ₺37 Mil.
Selling, General, & Admin. Expense(SGA) was ₺43 Mil.
Total Current Liabilities was ₺245 Mil.
Long-Term Debt & Capital Lease Obligation was ₺0 Mil.
Net Income was 3.424 + -22.672 + 16.48 + 20.938 = ₺18 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₺0 Mil.
Cash Flow from Operations was -65.02 + -95.853 + 23.33 + 22.849 = ₺-115 Mil.

Total Receivables was ₺0 Mil.
Revenue was 277.726 + 219.764 + 219.77 + 200.602 = ₺918 Mil.
Gross Profit was 91.35 + -25.016 + 62.883 + 35.151 = ₺164 Mil.
Total Current Assets was ₺0 Mil.
Total Assets was ₺0 Mil.
Property, Plant and Equipment(Net PPE) was ₺0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₺67 Mil.
Selling, General, & Admin. Expense(SGA) was ₺60 Mil.
Total Current Liabilities was ₺0 Mil.
Long-Term Debt & Capital Lease Obligation was ₺0 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)
	=	(372.845 / 1116.897)	/	(0 / 917.862)
	=	0.333822	/	0
	=

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)
	=	(164.368 / 917.862)	/	(349.479 / 1116.897)
	=	0.179077	/	0.312902
	=

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 - (952.638 + 611.986) / 1775.084)	/	(1 - (0 + 0) / 0)
	=	0.118563	/
	=

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
	=	1116.897	/	917.862
	=

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))
	=	(67.433 / (67.433 + 0))	/	(37.004 / (37.004 + 611.986))
	=	1	/	0.057018
	=

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)
	=	(43.422 / 1116.897)	/	(59.561 / 917.862)
	=	0.038877	/	0.064891
	=

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 + 244.524) / 1775.084)	/	((0 + 0) / 0)
	=	0.137753	/
	=

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
	=	(18.17 - 0	-	-114.694)	/	1775.084
	=	0.074849

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.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of 0.00 mean?

Gediz Ambalajnayi ve Ticaret AS (IST:GEDZA) has a Beneish M-Score of 0.00 as of Jul. 17, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Gediz Ambalajnayi ve Ticaret AS and its competitors. According to the industry distribution chart, Gediz Ambalajnayi ve Ticaret AS ranks #999999 out of 1526 companies in the Chemicals industry.

Is Gediz Ambalajnayi ve Ticaret AS's Beneish M-Score too high?

Gediz Ambalajnayi ve Ticaret AS's current Beneish M-Score is 0.00. Based on the distribution chart, Gediz Ambalajnayi ve Ticaret AS ranks #999999 out of 1526 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, Gediz Ambalajnayi ve Ticaret AS has a GF Score™ of 53/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Gediz Ambalajnayi ve Ticaret AS's Beneish M-Score compare to LIN and SHW?

According to the Chemicals industry distribution chart, Gediz Ambalajnayi ve Ticaret AS ranks #999999 out of 1526 companies for Beneish M-Score. This places Gediz Ambalajnayi ve Ticaret AS in the lower 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 Chemicals company?

A good Beneish M-Score depends on the Chemicals 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 Gediz Ambalajnayi ve Ticaret AS and its competitors. Gediz Ambalajnayi ve Ticaret 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 Gediz Ambalajnayi ve Ticaret AS stock overvalued right now?

Based on GuruFocus' analysis, Gediz Ambalajnayi ve Ticaret AS (IST:GEDZA) is currently considered Fairly Valued. The stock's GF Value™ is ₺32.07, compared to a current price of ₺29.52 — trading 8% below its estimated fair value. The current Beneish M-Score is 0.00. Gediz Ambalajnayi ve Ticaret AS's overall GF Score™ is 53/100 with 4 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 Gediz Ambalajnayi ve Ticaret AS (IST:GEDZA), the current Beneish M-Score is 0.00 as of Jul. 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 Gediz Ambalajnayi ve Ticaret AS (IST:GEDZA) Overvalued in 2026?

Based on GuruFocus' analysis, Gediz Ambalajnayi ve Ticaret AS stock appears to be undervalued. The current stock price of ₺29.52 is trading 8% below its estimated GF Value™ of ₺32.07. GuruFocus considers Gediz Ambalajnayi ve Ticaret AS to be Fairly Valued.

Key valuation signals for IST:GEDZA:

Beneish M-Score: 0.00
GF Value™: ₺32.07 vs. price of ₺29.52 (8% below fair value)
GF Score™: 53/100 with 4 warning signs

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

Gediz Ambalajnayi ve Ticaret AS Business Description

Industry Basic Materials Chemicals

Comparable Companies IST:RNPOL IST:DNISI IST:DYOBY IST:MERCN IST:TMPOL LIN XPAR:AI SHW ECL APD SHSE:603256 XSWX:GIVN TPE:1303 XSWX:SIKA SHSE:600309 SHSE:688146 OCSE:NSIS B PPG BOM:500820 XAMS:DSFIR

Address Highway 3 Km, Kutahya, Gediz, TUR, 43600

Website http://www.gedizambalaj.com

Gediz Ambalaj Sanayi ve Ticaret AS is a manufacturer of corrugated polypropylene (PP) sheet in Turkey. Its PP sheets are used in various applications, such as separators, white appliances and electronics, automotive products, logistic products, iron works, stationery products, project bags, magazine boxes, archive boxes, vegetable and fruit boxes, multipurpose boxes, recycling bins, signboards and stands, agricultural products, flower boxes, pet kennels, beehives, greenhouses, sapling shield products, and building and isolation products.

53GF Score

Get the complete analysis for IST:GEDZA

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

₺29.52

Price

₺32.07

GF Value

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