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 -1.78 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Lydia Holding AS's Beneish M-Score or its related term are showing as below:
IST:LYDHO'
s Beneish M-Score Range Over the Past 10 Years
Min: -10.03 Med: -0.65 Max: 40803.43
Current: -1.78
During the past 13 years, the highest Beneish M-Score of Lydia Holding AS was 40803.43. The lowest was -10.03. And the median was -0.65.
Lydia Holding AS Beneish M-Score Related Terms
Lydia Holding AS Beneish M-Score Historical Data
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The historical data trend for Lydia 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.
For the Conglomerates subindustry, Lydia 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.
Lydia Holding AS Beneish M-Score vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Lydia Holding AS's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Lydia Holding 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 Lydia 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 * 0.1245
+
0.528 * 3.6841
+
0.404 * 1.5363
+
0.892 * 0.8655
+
0.115 * 1.6014
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 2.393
+
4.679 * -0.02651
-
0.327 * 0.1177
=
-1.78
* 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))
=
(62.964 / (62.964 + 596.666))
/
(49.66 / (49.66 + 783.465))
=
0.095454
/
0.059607
=
1.6014
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
=
(-228.266 - 0
-
-0.157)
/
8604.79
=
-0.02651
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.
Lydia Holding AS has a M-score of -1.78 suggests that the company is unlikely to be a manipulator.
Lydia Holding AS (IST:LYDHO) has a Beneish M-Score of -1.78 as of Jun. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Lydia Holding AS and its competitors. According to the industry distribution chart, Lydia Holding AS ranks #465 out of 536 companies in the Conglomerates industry, placing it in the top 86.8%.
Is Lydia Holding AS's Beneish M-Score too high?
Lydia Holding AS's current Beneish M-Score is -1.78. Based on the distribution chart, Lydia Holding AS ranks #465 out of 536 companies in the Conglomerates industry, which is in the bottom quartile relative to peers. Overall, Lydia Holding AS has a GF Score™ of 43/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Lydia Holding AS's Beneish M-Score compare to HON and MMM?
According to the Conglomerates industry distribution chart, Lydia Holding AS ranks #465 out of 536 companies for Beneish M-Score. This places Lydia Holding 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 Conglomerates company?
A good Beneish M-Score depends on the Conglomerates 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 Lydia Holding AS and its competitors. Lydia Holding AS's current Beneish M-Score is -1.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lydia Holding AS stock overvalued right now?
Based on GuruFocus' analysis, Lydia Holding AS (IST:LYDHO) is currently considered Modestly Overvalued. The stock's GF Value™ is ₺146.99, compared to a current price of ₺180.00 — trading 22.5% above its estimated fair value. The current Beneish M-Score is -1.78. Lydia Holding AS's overall GF Score™ is 43/100 with 2 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 Lydia Holding AS (IST:LYDHO), the current Beneish M-Score is -1.78 as of Jun. 30, 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 Lydia Holding AS (IST:LYDHO) Overvalued in 2026?
Based on GuruFocus' analysis, Lydia Holding AS stock appears to be overvalued.
The current stock price of ₺180.00 is trading 22.5% above its estimated GF Value™ of ₺146.99.
GuruFocus considers Lydia Holding AS to be Modestly Overvalued.
Key valuation signals for IST:LYDHO:
Beneish M-Score: -1.78
GF Value™: ₺146.99 vs. price of ₺180.00 (22.5% above fair value)
No single metric tells the full story. See the IST:LYDHO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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