Avrupakent Gayrimenkul Yatirim Ortakligi (IST:AVPGY) Altman Z-Score: 2.34 (As of Jul. 19, 2026) — 28% Below Median

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IST:AVPGY Avrupakent Gayrimenkul Yatirim Ortakligi IST:AVPGY
61 GF Score
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! 4 Warning Signs
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What is Avrupakent Gayrimenkul Yatirim Ortakligi Altman Z-Score?

Avrupakent Gayrimenkul Yatirim Ortakligi IST:AVPGY -0.37% 61 Altman Z-Score is 2.34 as of Jul. 19, 2026, which is 28% below its 10-year median of 3.23. GuruFocus rates IST:AVPGY with a GF Score™ of 61/100. The stock has 4 warning signs investors should review. Among 1,730 Real Estate companies, Avrupakent Gayrimenkul Yatirim Ortakligi ranks better than 76.71% on this metric.

The Altman Z-Score is a model designed to predict the likelihood of a company going bankrupt within the next two years. Created by American finance professor Edward Altman in 1968, the model is specifically designed for publicly traded manufacturing companies with assets greater than $1 million.

Warning Sign:

Altman Z-score of 2.34 is in the grey area. This implies that the company is under some kind of financial stress. If it is below 1.8, the company may face bankruptcy risk.

Avrupakent Gayrimenkul Yatirim Ortakligi has a Altman Z-Score of 2.34, indicating it is in Grey Zones. This implies that Avrupakent Gayrimenkul Yatirim Ortakligi is in some kind of financial stress. If it is below 1.81, the company may face bankrupcy risk.

The zones of discrimination were as such:

When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.

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

IST:AVPGY' s Altman Z-Score Range Over the Past 10 Years
Min: 2.25   Med: 3.23   Max: 52.26
Current: 2.34

During the past 6 years, Avrupakent Gayrimenkul Yatirim Ortakligi's highest Altman Z-Score was 52.26. The lowest was 2.25. And the median was 3.23.


Avrupakent Gayrimenkul Yatirim Ortakligi  (IST:AVPGY) Altman Z-Score Explanation

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, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.

X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.

Read more about Altman Z-Score and the original research.


Be Aware

Altman Z-Score does not apply to financial companies.


Avrupakent Gayrimenkul Yatirim Ortakligi Altman Z-Score Related Terms


Avrupakent Gayrimenkul Yatirim Ortakligi Altman Z-Score Historical Data

* Premium members only.

The historical data trend for Avrupakent Gayrimenkul Yatirim Ortakligi's Altman Z-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.

Avrupakent Gayrimenkul Yatirim Ortakligi Altman Z-Score Chart

Avrupakent Gayrimenkul Yatirim Ortakligi Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Altman Z-Score
Get a 7-Day Free Trial 0.00 0.00 0.00 3.23 2.35

Avrupakent Gayrimenkul Yatirim Ortakligi Quarterly Data
Dec20 Dec21 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Altman Z-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 3.24 2.81 2.84 2.35 2.25

Avrupakent Gayrimenkul Yatirim Ortakligi Altman Z-Score Competitor Comparison

For the Real Estate - Diversified subindustry, Avrupakent Gayrimenkul Yatirim Ortakligi's Altman Z-Score, along with its competitors' market caps and Altman Z-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.


Avrupakent Gayrimenkul Yatirim Ortakligi Altman Z-Score vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Avrupakent Gayrimenkul Yatirim Ortakligi's Altman Z-Score distribution charts can be found below:

* The bar in red indicates where Avrupakent Gayrimenkul Yatirim Ortakligi's Altman Z-Score falls into.


IST:AVPGY
61GF Score
Avrupakent Gayrimenkul Yatirim Ortakligi IST:AVPGY
Altman Z-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Avrupakent Gayrimenkul Yatirim Ortakligi Altman Z-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.

Avrupakent Gayrimenkul Yatirim Ortakligi's Altman Z-Score for today is calculated with this formula:

Z=1.2*X1+1.4*X2+3.3*X3+0.6*X4+1.0*X5
=1.2*0.1069+1.4*0.5863+3.3*0.0398+0.6*1.8913+1.0*0.1268
=2.34

* 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 Z-Score when X4 or X5 value is 0.

Trailing Twelve Months (TTM) ended in Mar. 2026:
Total Assets was ₺55,787 Mil.
Total Current Assets was ₺7,370 Mil.
Total Current Liabilities was ₺1,406 Mil.
Retained Earnings was ₺32,710 Mil.
Pre-Tax Income was 768.516 + -636.849 + 163.659 + 1922.956 = ₺2,218 Mil.
Interest Expense was -0.103 + -0.358 + -0.294 + -0.282 = ₺-1 Mil.
Revenue was 1291.649 + 1754.841 + 2278.602 + 1751.05 = ₺7,076 Mil.
Market Cap (Today) was ₺21,500 Mil.
Total Liabilities was ₺11,368 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
=(7369.901 - 1406.38)/55787.476
=0.1069

X2=Retained Earnings/Total Assets
=32710.219/55787.476
=0.5863

X3=Earnings Before Interest and Taxes/Total Assets
=(Pre-Tax Income - Interest Expense)/Total Assets
=(2218.282 - -1.037)/55787.476
=0.0398

X4=Market Value Equity/Book Value of Total Liabilities
=Market Cap/Total Liabilities
=21500.000/11367.81
=1.8913

X5=Revenue/Total Assets
=7076.142/55787.476
=0.1268

The zones of discrimination were as such:

Distress Zones - 1.81 < Grey Zones < 2.99 - Safe Zones

Avrupakent Gayrimenkul Yatirim Ortakligi has a Altman Z-Score of 2.34 indicating it is in Grey Zones.

Study by Altman found that companies that are in Distress Zone have more than 80% of chances of bankruptcy in two years.

Frequently Asked Questions Learn more about Altman Z-Score →
What does a Altman Z-Score of 2.34 mean?
Avrupakent Gayrimenkul Yatirim Ortakligi (IST:AVPGY) has a Altman Z-Score of 2.34 as of Jul. 19, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Avrupakent Gayrimenkul Yatirim Ortakligi and its competitors. This is 28% below median its historical median of 3.23. Over the past decade, Avrupakent Gayrimenkul Yatirim Ortakligi's Altman Z-Score has ranged from 2.25 to 52.26. According to the industry distribution chart, Avrupakent Gayrimenkul Yatirim Ortakligi ranks #403 out of 1730 companies in the Real Estate industry, placing it in the top 23.3%.
Is Avrupakent Gayrimenkul Yatirim Ortakligi's Altman Z-Score too high?
Avrupakent Gayrimenkul Yatirim Ortakligi's current Altman Z-Score of 2.34 is 28% below median its 10-year median of 3.23. Over the past 10 years, this metric has ranged from a low of 2.25 to a high of 52.26. The Real Estate industry median Altman Z-Score is 1.32. Avrupakent Gayrimenkul Yatirim Ortakligi's value of 2.34 is 77.9% above this industry median. Based on the distribution chart, Avrupakent Gayrimenkul Yatirim Ortakligi ranks #403 out of 1730 companies in the Real Estate industry, which is in the top quartile — a strong position relative to peers. Overall, Avrupakent Gayrimenkul Yatirim Ortakligi has a GF Score™ of 61/100, reflecting its overall financial health beyond just this single metric.
How does Avrupakent Gayrimenkul Yatirim Ortakligi's Altman Z-Score compare to competitors?
According to the Real Estate industry distribution chart, Avrupakent Gayrimenkul Yatirim Ortakligi ranks #403 out of 1730 companies for Altman Z-Score. This places Avrupakent Gayrimenkul Yatirim Ortakligi in the top 23% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 1.32. Avrupakent Gayrimenkul Yatirim Ortakligi's value of 2.34 is 77.9% above this benchmark. Historically, Avrupakent Gayrimenkul Yatirim Ortakligi's own Altman Z-Score has ranged from 2.25 to 52.26 over the past decade. While the company's 10-year median is 3.23 vs. the industry median of 1.32, Avrupakent Gayrimenkul Yatirim Ortakligi has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Altman Z-Score for a Real Estate company?
The median Altman Z-Score among Real Estate companies is 1.32, based on 1,730 companies in the industry. Companies in the top quartile (top 25%) have a Altman Z-Score significantly above this median, while those in the bottom quartile fall well below. However, Altman Z-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Avrupakent Gayrimenkul Yatirim Ortakligi's current Altman Z-Score of 2.34 is 77.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Altman Z-Score mean?
A high Altman Z-Score can signal that a stock is expensive relative to its fundamentals. The Altman Z-score measures a company's bankruptcy risk. View historical data on Avrupakent Gayrimenkul Yatirim Ortakligi and its competitors. For the Real Estate industry, the median Altman Z-Score is 1.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Avrupakent Gayrimenkul Yatirim Ortakligi's current Altman Z-Score is 2.34, which is 28% below median its own 10-year median of 3.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Avrupakent Gayrimenkul Yatirim Ortakligi stock overvalued right now?
Avrupakent Gayrimenkul Yatirim Ortakligi (IST:AVPGY) has a current Altman Z-Score of 2.34. The current Altman Z-Score is 2.34, which is 28% below median its 10-year median of 3.23 and 77.9% above the Real Estate industry median of 1.32. Avrupakent Gayrimenkul Yatirim Ortakligi's overall GF Score™ is 61/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Altman Z-Score calculated?
Altman Z-Score is calculated from a company's financial statements. For Avrupakent Gayrimenkul Yatirim Ortakligi (IST:AVPGY), the current Altman Z-Score is 2.34 as of Jul. 19, 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.

Avrupakent Gayrimenkul Yatirim Ortakligi Business Description

Address Atakoy 7-8-9-10, Kisim Mah C. Cesme E-5, Yanyol Cad.N.8/2/7, Bakirkoy, Istanbul, TUR
Avrupakent Gayrimenkul Yatirim Ortakligi is a company that has business activities in the fields of real estate development, rental and management. It contains valuable portfolios of the country with its shopping malls, residences and other real estate. It also develops projects and rents or sells operating real estate.
61GF Score

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