Otto Holding AS (IST:OTTO) Beneish M-Score: 0.00 (As of Jul. 13, 2026)

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IST:OTTO Otto Holding AS IST:OTTO
30 GF Score
Price ₺183.00
! 6 Warning Signs
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What is Otto Holding AS Beneish M-Score?

Otto Holding AS IST:OTTO -6.63% 30 Beneish M-Score is 0.00 as of Jul. 13, 2026. GuruFocus rates IST:OTTO with a GF Score™ of 30/100. The stock has 6 warning signs investors should review. Among 953 Asset Management companies, Otto Holding AS ranks worse than 104931.69% 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 Otto Holding AS's Beneish M-Score or its related term are showing as below:

During the past 10 years, the highest Beneish M-Score of Otto Holding AS was 33.81. The lowest was -2.54. And the median was 5.31.

Otto Holding AS Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Otto 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.

Otto Holding AS Beneish M-Score Chart

Otto Holding AS Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 1.54

Otto Holding AS Quarterly Data
Dec18 Dec19 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Mar24 Jun24 Sep24 Mar25 Jun25 Sep25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 -2.54 0.00 0.00

IST:OTTO vs BLK, BX, KKR: Beneish M-Score Comparison

For the Asset Management subindustry, Otto 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.

Otto Holding AS Beneish M-Score vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Otto Holding AS's Beneish M-Score distribution charts can be found below:

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


IST:OTTO
30GF Score
Otto Holding AS IST:OTTO
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Otto 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 Otto 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Sep25) TTM:Last Year (Jun24) TTM:
Total Receivables was ₺80.3 Mil.
Revenue was 21.607 + 37.834 + 92.805 + 5.906 = ₺158.2 Mil.
Gross Profit was 8.003 + 8.29 + 49.766 + 36.193 = ₺102.3 Mil.
Total Current Assets was ₺128.0 Mil.
Total Assets was ₺921.3 Mil.
Property, Plant and Equipment(Net PPE) was ₺72.4 Mil.
Depreciation, Depletion and Amortization(DDA) was ₺18.6 Mil.
Selling, General, & Admin. Expense(SGA) was ₺21.7 Mil.
Total Current Liabilities was ₺130.5 Mil.
Long-Term Debt & Capital Lease Obligation was ₺0.0 Mil.
Net Income was -7.214 + -5.076 + 16.863 + 1.016 = ₺5.6 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₺0.0 Mil.
Cash Flow from Operations was -3.16 + -9.065 + 29.15 + 113.547 = ₺130.5 Mil.
 Total Receivables was ₺0.0 Mil.
Revenue was 56.324 + 143.934 + 22.64 + 46.949 = ₺269.8 Mil.
Gross Profit was 35.29 + 86.099 + 12.013 + 27.437 = ₺160.8 Mil.
Total Current Assets was ₺0.0 Mil.
Total Assets was ₺0.0 Mil.
Property, Plant and Equipment(Net PPE) was ₺0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₺60.2 Mil.
Selling, General, & Admin. Expense(SGA) was ₺39.1 Mil.
Total Current Liabilities was ₺0.0 Mil.
Long-Term Debt & Capital Lease Obligation was ₺0.0 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)
=(80.315 / 158.152) / (0 / 269.847)
=0.507834 / 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)
=(160.839 / 269.847) / (102.252 / 158.152)
=0.596038 / 0.646543
=

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 - (127.951 + 72.38) / 921.332) / (1 - (0 + 0) / 0)
=0.782564 /
=

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
=158.152 / 269.847
=

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))
=(60.212 / (60.212 + 0)) / (18.634 / (18.634 + 72.38))
=1 / 0.204738
=

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)
=(21.694 / 158.152) / (39.122 / 269.847)
=0.137172 / 0.144978
=

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 + 130.54) / 921.332) / ((0 + 0) / 0)
=0.141686 /
=

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
=(5.589 - 0 - 130.472) / 921.332
=-0.135546

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?
Otto Holding AS (IST:OTTO) has a Beneish M-Score of 0.00 as of Jul. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Otto Holding AS and its competitors. According to the industry distribution chart, Otto Holding AS ranks #999999 out of 953 companies in the Asset Management industry.
Is Otto Holding AS's Beneish M-Score too high?
Otto Holding AS's current Beneish M-Score is 0.00. Based on the distribution chart, Otto Holding AS ranks #999999 out of 953 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, Otto Holding AS has a GF Score™ of 30/100, reflecting its overall financial health beyond just this single metric.
How does Otto Holding AS's Beneish M-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, Otto Holding AS ranks #999999 out of 953 companies for Beneish M-Score. This places Otto 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 an Asset Management company?
A good Beneish M-Score depends on the Asset Management 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 Otto Holding AS and its competitors. Otto 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 Otto Holding AS stock overvalued right now?
Otto Holding AS (IST:OTTO) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Otto Holding AS's overall GF Score™ is 30/100 with 6 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 Otto Holding AS (IST:OTTO), the current Beneish M-Score is 0.00 as of Jul. 13, 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.

Otto Holding AS Business Description

Address Levent Neighbourhood Yosun Street No.8, Besiktas, Istanbul, TUR
Otto Holding AS is an investment company that brings traditional markets together with new-generation investments, It undertakes the responsibility of making investments that will benefit our shareholders while protecting the securities and transparency of the markets. The company transforms its experience in media, entertainment and other sectors into measurable financial values with technology-oriented investments in fields of activity such as artificial intelligence (AI), augmented reality (AR), financial technologies (Fintech), gaming (Gaming), and electric vehicles (Electrification).
30GF Score

Get the complete analysis for IST:OTTO

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

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