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Arçelik Anonim Sirketi

ACKAY
28
Furnishings, Fixtures & Appliances · Consumer Cyclical
Price
$9.07
-0.73 (-7.45%)
Market Cap
$1.19B
Exchange
Other OTC
Winston Score
28
Winston is worried
Below-average fundamentals — multiple weak pillars.
Data as of Sep 19, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Weak
Growth
Mixed
Cash Flow
Weak
Stability
Weak
Valuation
Data not available
Dividends
Strong
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Share count falling — buybacks

−8.5% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 133.0M (2021) → 121.7M (2025)

§Winston Score History

The full picture

Arçelik is a Turkish home appliance company that makes refrigerators, washing machines, dishwashers, ovens, and air conditioners. It sells to everyday consumers and retailers across Europe, Africa, and Asia under brands like Beko, Grundig, and Arctic. It is one of the largest appliance manufacturers in Europe by unit sales.

Arçelik makes money by selling appliances through retail stores, online channels, and distributors. The company is headquartered in Istanbul and operates factories in multiple countries, giving it a broad manufacturing footprint that helps keep costs competitive. Its wide brand portfolio and presence in both developed and emerging markets provide diversification, but thin operating margins and exposure to currency fluctuations in Turkey and other volatile economies remain key risks to watch.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+16.4% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+235.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

3.5B TRY/ year

↓ Declining (-28% vs prior year)

0.6% of revenue

Below sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

80.4%ownership

Insiders own a meaningful stake in the company

Cash Runway

~5 years

66.8B TRY cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

66.8B TRY cash & investments at current burn rate

Growth context

Arçelik Anonim Sirketi is growing revenue at 16% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
29.3%
Modest — 29.3% gross margin
Profit after running costs
Operating Margin
4.1%
Thin — 4.1% operating margin
Return on the money invested
ROCE
1.8%
Weak — 1.8% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth
Sales YoY
+32.2%
Fast-growing sales (+32.2% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
3/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-1.3%
Burning cash (-1.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
3.32
Heavy debt load (3.32)
Covers its interest
Interest Cover
0.23x
Dangerous — barely covers interest (0.2x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
5.34%
Healthy income — 5.34% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
+7.6%
Dividend growing modestly (7.6% YoY)

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