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Ozderici Gayrimenkul Yatirim Ortakligi AS (IST:OZGYO) Altman Z2-Score : 63.17 (As of May. 18, 2024)


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What is Ozderici Gayrimenkul Yatirim Ortakligi AS Altman Z2-Score?

Altman Z2-Score, also known as Z"-Score, is used to predict the likelihood that a non-manufacturing company (excluding property/financial company) will face bankruptcy within a two-year period.

Good Sign:

Ozderici Gayrimenkul Yatirim Ortakligi AS has a Altman Z2-Score of 63.17, indicating it is in Safe Zones. This implies the Altman Z2-Score is strong.

The zones of discrimination were as such:

When Altman Z2-Score <= 1.1, it is in Distress Zones.
When Altman Z2-Score >= 2.6, it is in Safe Zones.
When Altman Z2-Score is between 1.1 and 2.6, it is in Grey Zones.

The historical rank and industry rank for Ozderici Gayrimenkul Yatirim Ortakligi AS's Altman Z2-Score or its related term are showing as below:

IST:OZGYO' s Altman Z2-Score Range Over the Past 10 Years
Min: 5.09   Med: 7.52   Max: 65.59
Current: 63.17

During the past 13 years, Ozderici Gayrimenkul Yatirim Ortakligi AS's highest Altman Z2-Score was 65.59. The lowest was 5.09. And the median was 7.52.


Ozderici Gayrimenkul Yatirim Ortakligi AS Altman Z2-Score Historical Data

The historical data trend for Ozderici Gayrimenkul Yatirim Ortakligi AS's Altman Z2-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.

* Premium members only.

Ozderici Gayrimenkul Yatirim Ortakligi AS Altman Z2-Score Chart

Ozderici Gayrimenkul Yatirim Ortakligi AS Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Altman Z2-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.22 5.54 10.02 31.90 65.27

Ozderici Gayrimenkul Yatirim Ortakligi AS Quarterly Data
Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23
Altman Z2-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 34.38 65.27 59.08 65.59 63.17

Competitive Comparison of Ozderici Gayrimenkul Yatirim Ortakligi AS's Altman Z2-Score

For the REIT - Diversified subindustry, Ozderici Gayrimenkul Yatirim Ortakligi AS's Altman Z2-Score, along with its competitors' market caps and Altman Z2-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.


Ozderici Gayrimenkul Yatirim Ortakligi AS's Altman Z2-Score Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Ozderici Gayrimenkul Yatirim Ortakligi AS's Altman Z2-Score distribution charts can be found below:

* The bar in red indicates where Ozderici Gayrimenkul Yatirim Ortakligi AS's Altman Z2-Score falls into.



Ozderici Gayrimenkul Yatirim Ortakligi AS Altman Z2-Score Calculation

Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.

Z2-Score, also known as Z"-Score is the Z-Score for non-manufacturing companies excluding property/financial companies.

Ozderici Gayrimenkul Yatirim Ortakligi AS's Altman Z2-Score for today is calculated with this formula:

Z=6.56*X1+3.26*X2+6.72*X3+1.05*X4_2
=6.56*-0.0102+3.26*0.891+6.72*0.5451+1.05*53.9688
=63.17

* 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. GuruFocus does not calculate Altman Z2-Score when X4_2 value is 0.

Trailing Twelve Months (TTM) ended in Sep. 2023:
Total Assets was ₺2,399.83 Mil.
Total Current Assets was ₺13.31 Mil.
Total Current Liabilities was ₺37.76 Mil.
Retained Earnings was ₺2,138.29 Mil.
Pre-Tax Income was 24.163 + 85.285 + 10.11 + 1186.194 = ₺1,305.75 Mil.
Interest Expense was -0.452 + -1.371 + -0.252 + -0.429 = ₺-2.50 Mil.
Total Liabilities was ₺43.66 Mil.

* Note that for stock reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data.

X1=Working Capital/Total Assets
=(Total Current Assets - Total Current Liabilities)/Total Assets
=(13.307 - 37.755)/2399.827
=-0.0102

X2=Retained Earnings/Total Assets
=2138.286/2399.827
=0.891

X3=Earnings Before Interest and Taxes/Total Assets
=(Pre-Tax Income - Interest Expense)/Total Assets
=(1305.752 - -2.504)/2399.827
=0.5451

X4_2=Net Worth/Total Liabilities
=(Total Stockholders Equity - Preferred Stock)/Total Liabilities
=(2356.169 - 0)/43.658
=53.9688

The zones of discrimination were as such:

Distress Zones - 1.1 < Grey Zones < 2.6 - Safe Zones

Ozderici Gayrimenkul Yatirim Ortakligi AS has a Altman Z2-Score of 63.17 indicating it is in Safe Zones.


Ozderici Gayrimenkul Yatirim Ortakligi AS  (IST:OZGYO) Altman Z2-Score Explanation

The original Z-Score model was based on publicly traded manufacturing companies while the Z2-Score, also known as Z"-score can be used for any type of company excluding property/financial companies. Both Z-Score and Z2-Score describes the financial health of a company, and its likelihood of financial distress.

X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.

X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.

X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.

X4_2, Net Worth (Total Stockholders Equity - Preferred Stock)/Total Liabilities (NW/TL): it compares a company’s stock net worth with its total liabilities and can be used to assess the extent of its reliance on debt.

Read more about Altman Z2-Score, the original research on Z-Score and the additional research on Z2-Score.


Be Aware

Altman Z2-Score does not apply to financial companies.


Ozderici Gayrimenkul Yatirim Ortakligi AS Altman Z2-Score Related Terms

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Ozderici Gayrimenkul Yatirim Ortakligi AS (IST:OZGYO) Business Description

Traded in Other Exchanges
N/A
Address
Buyukdere Street Building Loan Plaza C Block, Floor 9, Levent, Istanbul, TUR, 34330
Ozderici Gayrimenkul Yatirim Ortakligi AS is a Turkey-based real estate investment trust involved in the real estate development projects. The projects of the company include Nuvo Dragos, Zeytinburnu Akevler Siteleri, Akatlar Ozderici Bloklari, Yapi Kredi Plaza'da Ofis and Bayrampasa 5 Adet Is Merkezi.

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