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 2.46 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.
Ingram Micro Bilisim Sistemleri AS has a Altman Z-Score of 2.46, indicating it is in Grey Zones. This implies that Ingram Micro Bilisim Sistemleri AS 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.
IST:INGRM'
s Altman Z-Score Range Over the Past 10 Years
Min: 2.28 Med: 2.96 Max: 3.65
Current: 2.46
During the past 13 years, Ingram Micro Bilisim Sistemleri AS's highest Altman Z-Score was 3.65. The lowest was 2.28. And the median was 2.96.
Ingram Micro Bilisim Sistemleri AS (IST:INGRM) 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.
* 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.
Ingram Micro Bilisim Sistemleri AS Altman Z-Score Chart
IST:INGRM vs SNX, ARW, AVT: Altman Z-Score Comparison
For the Electronics & Computer Distribution subindustry, Ingram Micro Bilisim Sistemleri AS'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.
Ingram Micro Bilisim Sistemleri AS Altman Z-Score vs Hardware Industry
For the Hardware industry and Technology sector, Ingram Micro Bilisim Sistemleri AS's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Ingram Micro Bilisim Sistemleri AS's Altman Z-Score falls into.
Ingram Micro Bilisim Sistemleri AS 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.
* 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.
Ingram Micro Bilisim Sistemleri AS (IST:INGRM) has a Altman Z-Score of 2.46 as of Jun. 26, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Ingram Micro Bilisim Sistemleri AS and its competitors. This is 17% below median its historical median of 2.96. Over the past decade, Ingram Micro Bilisim Sistemleri AS's Altman Z-Score has ranged from 2.28 to 3.65. According to the industry distribution chart, Ingram Micro Bilisim Sistemleri AS ranks #1704 out of 2456 companies in the Hardware industry, placing it in the top 69.4%.
Is Ingram Micro Bilisim Sistemleri AS's Altman Z-Score too high?
Ingram Micro Bilisim Sistemleri AS's current Altman Z-Score of 2.46 is 17% below median its 10-year median of 2.96. Over the past 10 years, this metric has ranged from a low of 2.28 to a high of 3.65. The Hardware industry median Altman Z-Score is 3.69. Ingram Micro Bilisim Sistemleri AS's value of 2.46 is 33.3% below this industry median. Based on the distribution chart, Ingram Micro Bilisim Sistemleri AS ranks #1704 out of 2456 companies in the Hardware industry, which is below the industry midpoint. Overall, Ingram Micro Bilisim Sistemleri AS has a GF Score™ of 46/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Ingram Micro Bilisim Sistemleri AS's Altman Z-Score compare to SNX and ARW?
According to the Hardware industry distribution chart, Ingram Micro Bilisim Sistemleri AS ranks #1704 out of 2456 companies for Altman Z-Score. This places Ingram Micro Bilisim Sistemleri AS in the lower half of its industry. The industry median Altman Z-Score is 3.69. Ingram Micro Bilisim Sistemleri AS's value of 2.46 is 33.3% below this benchmark. Historically, Ingram Micro Bilisim Sistemleri AS's own Altman Z-Score has ranged from 2.28 to 3.65 over the past decade. While the company's 10-year median is 2.96 vs. the industry median of 3.69, Ingram Micro Bilisim Sistemleri AS has consistently been below 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 Hardware company?
The median Altman Z-Score among Hardware companies is 3.69, based on 2,456 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. Ingram Micro Bilisim Sistemleri AS's current Altman Z-Score of 2.46 is 33.3% below 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 Ingram Micro Bilisim Sistemleri AS and its competitors. For the Hardware industry, the median Altman Z-Score is 3.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ingram Micro Bilisim Sistemleri AS's current Altman Z-Score is 2.46, which is 17% below median its own 10-year median of 2.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ingram Micro Bilisim Sistemleri AS stock overvalued right now?
Based on GuruFocus' analysis, Ingram Micro Bilisim Sistemleri AS (IST:INGRM) is currently considered Possible Value Trap. The stock's GF Value™ is ₺787.08, compared to a current price of ₺416.25 — trading 47.1% below its estimated fair value. The current Altman Z-Score is 2.46, which is 17% below median its 10-year median of 2.96 and 33.3% below the Hardware industry median of 3.69. Ingram Micro Bilisim Sistemleri AS's overall GF Score™ is 46/100 with 7 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 Ingram Micro Bilisim Sistemleri AS (IST:INGRM), the current Altman Z-Score is 2.46 as of Jun. 26, 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 Ingram Micro Bilisim Sistemleri AS (IST:INGRM) Overvalued in 2026?
Based on GuruFocus' analysis, Ingram Micro Bilisim Sistemleri AS stock appears to be undervalued.
The current stock price of ₺416.25 is trading 47.1% below its estimated GF Value™ of ₺787.08.
GuruFocus considers Ingram Micro Bilisim Sistemleri AS to be Possible Value Trap.
Key valuation signals for IST:INGRM:
Altman Z-Score: 2.46 (17% below median its 10-year median of 2.96)
GF Value™: ₺787.08 vs. price of ₺416.25 (47.1% below fair value)
Industry Position: 33.3% below the Hardware median (#1704 of 2456)
No single metric tells the full story. See the IST:INGRM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ingram Micro Bilisim Sistemleri AS Business Description
Ingram Micro Bilisim Sistemleri AS is a Turkey-based distribution company active in the information technology sector. It engages in the distribution of value-added products in the field of information technology. Its products include computers, servers, storage, virtualization, security computer networking, industrial portable terminals, barcode readers, mobile products, and original equipment manufacturer products.
46GF Score
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