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Arçelik Anonim Sirketi

OTCPK:ACKA.F
Snowflake Description

Reasonable growth potential average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ACKA.F
OTCPK
TRY10B
Market Cap
  1. Home
  2. US
  3. Consumer Durables
Company description

Arçelik Anonim Sirketi, together with its subsidiaries, produces, markets, sells, services, imports, and exports consumer durable goods and consumer electronics in Turkey and internationally. The last earnings update was 65 days ago. More info.


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ACKA.F Share Price and Events
7 Day Returns
0%
OTCPK:ACKA.F
2.6%
US Consumer Durables
3%
US Market
1 Year Returns
-
OTCPK:ACKA.F
-31.7%
US Consumer Durables
-8.4%
US Market
ACKA.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Arçelik Anonim Sirketi (ACKA.F) 0% 0% - - - -
US Consumer Durables 2.6% -10.6% -17.3% -31.7% -7.9% 5.5%
US Market 3% -9.7% -15.8% -8.4% 20.1% 28.6%
1 Year Return vs Industry and Market
  • No trading data on ACKA.F.
  • No trading data on ACKA.F.
Price Volatility
ACKA.F
Industry
5yr Volatility vs Market

Value

 Is Arçelik Anonim Sirketi undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Arçelik Anonim Sirketi to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Arçelik Anonim Sirketi.

OTCPK:ACKA.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 14.2%
Perpetual Growth Rate 10-Year US Government Bond Rate 3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:ACKA.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 3%
Equity Risk Premium S&P Global 7.1%
Consumer Durables Unlevered Beta Simply Wall St/ S&P Global 0.86
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.862 (1 + (1- 22%) (110.01%))
1.602
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.6
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.95% + (1.602 * 7.05%)
14.24%

Discounted Cash Flow Calculation for OTCPK:ACKA.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Arçelik Anonim Sirketi is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

OTCPK:ACKA.F DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (TRY, Millions) -443.00 150.00 174.87 203.86 236.48
Source Analyst x1 Analyst x1 Est @ 16.58% Est @ 16.58% Est @ 16%, capped from 16.58%
Present Value
Discounted (@ 14.24%)
-387.76 114.93 117.28 119.67 121.51
Present value of next 5 years cash flows TRY85.62
OTCPK:ACKA.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= TRY236.48 × (1 + 2.95%) ÷ (14.24% – 2.95%)
TRY2,155.53
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= TRY2,155.53 ÷ (1 + 14.24%)5
TRY1,107.59
OTCPK:ACKA.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= TRY85.62 + TRY1,107.59
TRY1,193.21
Equity Value per Share
(TRY)
= Total value / Shares Outstanding
= TRY1,193.21 / 675.73
TRY0.25
OTCPK:ACKA.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:ACKA.F represents 0.14257x of IBSE:ARCLK
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.14257x
Value per Share
(Listing Adjusted, USD)
= Value per Share (TRY) x Listing Adjustment Factor
= TRY 1.77 x 0.14257
$0.25
Value per share (USD) From above. $0.25
Current discount Discount to share price of $2.21
= -1 x ($2.21 - $0.25) / $0.25
-777.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Arçelik Anonim Sirketi is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Arçelik Anonim Sirketi's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Arçelik Anonim Sirketi's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:ACKA.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in TRY TRY0.98
IBSE:ARCLK Share Price ** IBSE (2018-10-03) in TRY TRY15.5
United States of America Consumer Durables Industry PE Ratio Median Figure of 47 Publicly-Listed Consumer Durables Companies 10.74x
United States of America Market PE Ratio Median Figure of 3,020 Publicly-Listed Companies 16.04x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Arçelik Anonim Sirketi.

OTCPK:ACKA.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= IBSE:ARCLK Share Price ÷ EPS (both in TRY)

= 15.5 ÷ 0.98

15.83x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Arçelik Anonim Sirketi is overvalued based on earnings compared to the US Consumer Durables industry average.
  • Arçelik Anonim Sirketi is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Arçelik Anonim Sirketi's expected growth come at a high price?
Raw Data
OTCPK:ACKA.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.83x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
46.3%per year
United States of America Consumer Durables Industry PEG Ratio Median Figure of 34 Publicly-Listed Consumer Durables Companies 0.87x
United States of America Market PEG Ratio Median Figure of 2,107 Publicly-Listed Companies 1.13x

*Line of best fit is calculated by linear regression .

OTCPK:ACKA.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.83x ÷ 46.3%

0.34x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Arçelik Anonim Sirketi is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Arçelik Anonim Sirketi's assets?
Raw Data
OTCPK:ACKA.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in TRY TRY13.26
IBSE:ARCLK Share Price * IBSE (2018-10-03) in TRY TRY15.5
United States of America Consumer Durables Industry PB Ratio Median Figure of 69 Publicly-Listed Consumer Durables Companies 1.22x
United States of America Market PB Ratio Median Figure of 5,096 Publicly-Listed Companies 1.61x
OTCPK:ACKA.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= IBSE:ARCLK Share Price ÷ Book Value per Share (both in TRY)

= 15.5 ÷ 13.26

1.17x

* Primary Listing of Arçelik Anonim Sirketi.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Arçelik Anonim Sirketi is good value based on assets compared to the US Consumer Durables industry average.
X
Value checks
We assess Arçelik Anonim Sirketi's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Consumer Durables industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Consumer Durables industry average (and greater than 0)? (1 check)
  5. Arçelik Anonim Sirketi has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Arçelik Anonim Sirketi expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
46.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Arçelik Anonim Sirketi expected to grow at an attractive rate?
  • Arçelik Anonim Sirketi's earnings growth is expected to exceed the low risk savings rate of 3%.
Growth vs Market Checks
  • Arçelik Anonim Sirketi's earnings growth is expected to exceed the United States of America market average.
  • Arçelik Anonim Sirketi's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:ACKA.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:ACKA.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 46.3%
OTCPK:ACKA.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 17.1%
United States of America Consumer Durables Industry Earnings Growth Rate Market Cap Weighted Average 20%
United States of America Consumer Durables Industry Revenue Growth Rate Market Cap Weighted Average 6.2%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:ACKA.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in TRY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:ACKA.F Future Estimates Data
Date (Data in TRY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 54,708 1
2021-12-31 47,752 1
2020-12-31 38,954 1,669 1,908 5
2019-12-31 35,104 -299 1,050 9
2018-12-31 27,218 -49 785 9
OTCPK:ACKA.F Past Financials Data
Date (Data in TRY Millions) Revenue Cash Flow Net Income *
2018-09-30 25,196 1,184 662
2018-06-30 22,939 1,110 667
2018-03-31 21,489 919 780
2017-12-31 20,841 494 843
2017-09-30 19,661 597 982
2017-06-30 18,304 773 989
2017-03-31 17,203 1,306 1,384
2016-12-31 16,096 2,067 1,300
2016-09-30 15,637 2,479 1,282
2016-06-30 15,431 2,223 1,231
2016-03-31 14,827 1,925 905
2015-12-31 14,166 1,723 891

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Arçelik Anonim Sirketi's earnings are expected to grow significantly at over 20% yearly.
  • Arçelik Anonim Sirketi's revenue is expected to grow by 17.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:ACKA.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from Arçelik Anonim Sirketi Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:ACKA.F Future Estimates Data
Date (Data in TRY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31 2.25 2.72 1.64 3.00
2019-12-31 1.44 1.69 1.05 4.00
2018-12-31 1.20 1.29 1.16 4.00
OTCPK:ACKA.F Past Financials Data
Date (Data in TRY Millions) EPS *
2018-09-30 0.98
2018-06-30 0.99
2018-03-31 1.15
2017-12-31 1.25
2017-09-30 1.45
2017-06-30 1.46
2017-03-31 2.05
2016-12-31 1.92
2016-09-30 1.90
2016-06-30 1.82
2016-03-31 1.34
2015-12-31 1.32

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Arçelik Anonim Sirketi is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Arçelik Anonim Sirketi's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Arçelik Anonim Sirketi has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Arçelik Anonim Sirketi performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Arçelik Anonim Sirketi's growth in the last year to its industry (Consumer Durables).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Arçelik Anonim Sirketi's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Arçelik Anonim Sirketi's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Arçelik Anonim Sirketi's 1-year earnings growth is negative, it can't be compared to the US Consumer Durables industry average.
Earnings and Revenue History
Arçelik Anonim Sirketi's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Arçelik Anonim Sirketi Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:ACKA.F Past Revenue, Cash Flow and Net Income Data
Date (Data in TRY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 25,195.79 661.81 6,031.62 187.76
2018-06-30 22,939.39 666.79 5,447.91 176.72
2018-03-31 21,488.58 779.55 5,063.49 173.14
2017-12-31 20,840.61 842.95 4,933.88 170.18
2017-09-30 19,660.87 982.45 4,640.94 161.35
2017-06-30 18,304.50 989.04 4,346.73 161.27
2017-03-31 17,202.98 1,384.47 4,194.02 157.41
2016-12-31 16,096.17 1,299.91 3,966.00 151.67
2016-09-30 15,637.20 1,281.50 3,774.08 149.35
2016-06-30 15,431.25 1,231.04 3,699.05 140.68
2016-03-31 14,826.79 905.31 3,505.52 130.62
2015-12-31 14,166.10 891.14 3,299.29 125.17
2015-09-30 13,500.87 849.18 3,158.14 112.74
2015-06-30 12,857.66 792.50 3,004.30 109.25
2015-03-31 12,578.53 627.46 2,890.03 105.96
2014-12-31 12,514.03 617.08 2,870.07 102.06
2014-09-30 12,211.90 604.13 2,774.00 99.55
2014-06-30 11,880.31 609.50 2,656.51 94.28
2014-03-31 11,469.81 599.57 2,552.94 89.17
2013-12-31 11,097.71 597.85 2,426.66 83.21
2013-09-30 10,642.49 535.30 2,340.06 74.37
2013-06-30 10,467.70 511.48 2,278.12 67.66
2013-03-31 10,581.05 527.99 2,240.58 69.69
2012-12-31 10,556.86 519.71 2,201.64 73.46
2012-09-30 10,306.70 518.31 2,126.00 71.82
2012-06-30 9,893.58 532.71 2,044.64 75.10
2012-03-31 9,143.84 502.06 1,922.80 70.46
2011-12-31 8,437.24 506.51 1,797.18 64.85

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Arçelik Anonim Sirketi has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Arçelik Anonim Sirketi used its assets less efficiently than the US Consumer Durables industry average last year based on Return on Assets.
  • Arçelik Anonim Sirketi's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Arçelik Anonim Sirketi's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Consumer Durables industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Arçelik Anonim Sirketi has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Arçelik Anonim Sirketi's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Arçelik Anonim Sirketi's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Arçelik Anonim Sirketi is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Arçelik Anonim Sirketi's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Arçelik Anonim Sirketi's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Arçelik Anonim Sirketi Company Filings, last reported 3 months ago.

OTCPK:ACKA.F Past Debt and Equity Data
Date (Data in TRY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 9,001.43 11,522.55 4,295.41
2018-06-30 7,216.29 9,441.81 2,969.79
2018-03-31 6,780.00 8,271.05 2,613.57
2017-12-31 6,915.08 7,376.10 2,591.10
2017-09-30 6,545.47 6,982.61 1,990.24
2017-06-30 6,222.38 6,796.25 2,052.49
2017-03-31 6,051.52 6,750.34 2,890.55
2016-12-31 6,004.58 5,657.66 2,446.68
2016-09-30 5,286.91 5,212.94 2,725.78
2016-06-30 4,882.47 5,155.83 2,477.80
2016-03-31 4,596.19 5,591.85 2,498.26
2015-12-31 4,675.84 5,453.65 2,167.63
2015-09-30 4,748.73 5,810.97 1,564.16
2015-06-30 4,337.74 5,059.73 1,052.56
2015-03-31 4,293.78 4,925.41 1,653.90
2014-12-31 4,398.70 4,767.61 1,621.22
2014-09-30 4,281.55 4,842.16 1,497.51
2014-06-30 4,185.18 4,494.45 1,098.13
2014-03-31 3,968.38 4,630.61 1,554.59
2013-12-31 4,138.76 4,305.72 1,266.58
2013-09-30 4,042.25 4,663.90 1,502.14
2013-06-30 3,856.32 4,310.32 1,650.85
2013-03-31 3,671.15 3,926.32 1,878.08
2012-12-31 3,927.24 4,003.27 1,742.97
2012-09-30 3,694.50 3,714.86 1,175.25
2012-06-30 3,591.47 3,651.24 1,121.19
2012-03-31 3,457.60 3,428.04 1,371.64
2011-12-31 3,651.64 3,156.89 1,176.82
  • Arçelik Anonim Sirketi's level of debt (128%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (115.3% vs 128% today).
  • Debt is not well covered by operating cash flow (10.3%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Arçelik Anonim Sirketi's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Arçelik Anonim Sirketi has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Arçelik Anonim Sirketi's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.15%
Current annual income from Arçelik Anonim Sirketi dividends. Estimated to be 4.11% next year.
If you bought $2,000 of Arçelik Anonim Sirketi shares you are expected to receive $83 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Arçelik Anonim Sirketi's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.55%).
  • Arçelik Anonim Sirketi's dividend is above the markets top 25% of dividend payers in United States of America (3.96%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:ACKA.F Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
United States of America Consumer Durables Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 2.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1985 Stocks 2.8%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.9%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:ACKA.F Future Dividends Estimate Data
Date (Data in TRY) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31 0.85 6.00
2019-12-31 0.60 7.00
2018-12-31 0.47 6.00
OTCPK:ACKA.F Past Annualized Dividends Data
Date (Data in TRY) Dividend per share (annual) Avg. Yield (%)
2018-04-26 0.644 4.433
2018-01-30 0.644 3.517
2017-04-24 0.629 2.760
2017-02-06 0.629 2.852
2016-04-25 0.388 1.892
2016-02-02 0.388 2.112
2015-07-27 0.518 3.475
2015-04-29 0.518 3.583
2015-01-30 0.518 3.496
2014-07-24 0.444 3.278
2014-04-30 0.444 3.415
2014-02-13 0.444 3.722
2014-02-07 0.444 3.764
2013-04-30 0.525 4.277
2013-02-11 0.525 4.406
2012-11-01 0.444 3.901
2012-08-01 0.401 4.018
2012-04-30 0.401 4.799
2011-05-02 0.370 5.184
2011-02-17 0.370 4.944
2010-10-27 0.135 1.676
2009-12-31 0.148 2.254

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Arçelik Anonim Sirketi has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Arçelik Anonim Sirketi only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Arçelik Anonim Sirketi's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.7x coverage).
X
Income/ dividend checks
We assess Arçelik Anonim Sirketi's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Arçelik Anonim Sirketi afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Arçelik Anonim Sirketi has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Arçelik Anonim Sirketi's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Hakan Bulgurlu
CEO Bio

Mr. Hakan Hamdi Bulgurlu serves as the General Manager at Arcelik AS. Mr. Bulgurlu had been an Assistant General Manager of Sales Europe America Asia-Pacific at Arcelik AS since September 2010. Mr. Bulgurlu serves as General Manager of Arçelik-LG Klima Sanayi ve Ticaret Anonim Þirketi. He serves as Manager of Ram Pacific Ltd. He has been a Director of Arcelik AS since April 16, 2016.

CEO Compensation
  • Insufficient data for Hakan to compare compensation growth.
  • Insufficient data for Hakan to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure of the Arçelik Anonim Sirketi management team in years:

3.1
Average Tenure
  • The tenure for the Arçelik Anonim Sirketi management team is about average.
Management Team

Hakan Bulgurlu

TITLE
GM & Director

Polat Sen

TITLE
Chief Financial Officer

Cemal Seref Öztürk

TITLE
Assistant General Manager of Production & Technology
TENURE
3.1 yrs

Orkun Inanbil

TITLE
IR Manager

Zeynep Özbil

TITLE
Corporate Communications Director

Baris Orbay

TITLE
Sales Director
TENURE
2 yrs

Zeynep Uzun

TITLE
Assistant General Manager of Marketing
TENURE
0.9 yrs

Buket Çelebiöven

TITLE
Human Resources Director

Cemal Dinçer

TITLE
Assistant General Manager of Trade - Turkey & Pakistan
TENURE
3.1 yrs

Mehmet Balcioglu

TITLE
Assistant General Manager of Trade - Europe & MENA
TENURE
3.1 yrs
Board of Directors Tenure

Average tenure and age of the Arçelik Anonim Sirketi board of directors in years:

2.7
Average Tenure
58
Average Age
  • The average tenure for the Arçelik Anonim Sirketi board of directors is less than 3 years, this suggests a new board.
Board of Directors

Rahmi Koç

TITLE
Chairman
AGE
88

Hakan Bulgurlu

TITLE
GM & Director
TENURE
2.7 yrs

Ömer Koç

TITLE
Vice Chairman
AGE
56
TENURE
2.7 yrs

Kadri Küçükpinar

TITLE
Independent Director
TENURE
5.8 yrs

Robert Sonman

TITLE
Non-Executive Non Independent Director
TENURE
24.7 yrs

Fatih Ebiçlioglu

TITLE
Director

Semahat Arsel

TITLE
Non-Executive Non Independent Director
AGE
90

Levent Çakiroglu

TITLE
Director
AGE
51

Ali Koç

TITLE
Non-Executive Non Independent Director
AGE
51

Kamil Bozer

TITLE
Director
AGE
60
TENURE
0.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Arçelik Anonim Sirketi's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Arçelik Anonim Sirketi has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

External News
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Simply Wall St News

Company Info

Map
Description

Arçelik Anonim Sirketi, together with its subsidiaries, produces, markets, sells, services, imports, and exports consumer durable goods and consumer electronics in Turkey and internationally. It operates through White Goods, Consumer Electronics, and Other segments. The company offers built-in and freestanding appliances, such as refrigerators, freezers, washing machines, dryers, dishwashers, ovens, hobs, hoods, warming drawers, microwave ovens, and water dispensers and water filtration appliances; and small household appliances, including vacuum and steam cleaners, kitchen appliances, personal and garment care appliances, and fans. It also provides consumer electronics comprising TVs, smart phones, notebooks and tablets, POS cash registers, Hi-Fi systems, and portable audio systems; and heating and ventilation systems consisting of air conditioners, boilers, and water and room heaters. In addition, the company offers components, which include hermetic compressors, industrial motors, and appliances motor-pumps. It offers its products under the Arçelik, Beko, Blomberg, Arctic, Grundig, Altus, Flavel, Elektrabregenz, Leisure, Defy, and Dawlance brand names. The company was founded in 1955 and is headquartered in Istanbul, Turkey. Arçelik Anonim Sirketi is a subsidiary of Koç Holding A.S.

Details
Name: Arçelik Anonim Sirketi
ACKA.F
Exchange: OTCPK
Founded: 1955
TRY1,984,912,384
675,728,205
Website: http://www.arcelikas.com
Address: Arçelik Anonim Sirketi
Karaagaç Caddesi No: 2-6,
Sütlüce,
Istanbul,
34445,
Turkey
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
IBSE ARCLK Ordinary Shares Borsa Istanbul (BIST) TR TRY 18. Jul 1990
OTCPK ACKA.F Ordinary Shares Pink Sheets LLC US USD 18. Jul 1990
OTCPK ACKA.Y UNSP ADR EACH REPR 5 SHS Pink Sheets LLC US USD 28. Oct 2008
BST RCAA UNSP ADR EACH REPR 5 SHS Boerse-Stuttgart DE EUR 28. Oct 2008
Number of employees
Current staff
Staff numbers
29,813
Arçelik Anonim Sirketi employees.
Industry
Household Appliances
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/12/30 00:06
End of day share price update: 2018/10/03 00:00
Last estimates confirmation: 2018/12/07
Last earnings filing: 2018/10/26
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.