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Arcelik AS (ACKAY) fair value: what the stock is really worth

As of Sep 22, 2026: fair value of Arcelik AS $6.10, price $8.72, upside -30.1%, quality 32 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Consumer Cyclical · US · ADR · Home Turkey · ISIN US03937X1090

AA Arcelik AS logo Thin data Sep 24, 2026

Arcelik AS

ACKAY · US

Weak valuationQuality is weak on top of the rich price.

!Fair value $6.10 · Overvalued (−30%)
!Quality 32/100
!Expensive Growth (revenue 5y +69.3 %/yr)
!Loss-making · -1.6% net margin (TTM)
!Moderate debt · negative free cash flow
!Trails peers (0/8)
!Narrow moat 20/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$35.72 $8.72 Fair Value $6.10 Oct 2020 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range $8.72 – $35.72 · fair‑value band $5.66 – $6.48 · the $8.72 price screens above the $6.10 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Arçelik Anonim Sirketi, together with its subsidiaries, produces, markets, sells, after sales services, imports, and exports consumer durable goods and electronics in Turkey, Europe, the Asia Pacific, Africa, and internationally. It operates through White Goods, Consumer Electronics, and Other segments.

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Arçelik Anonim Sirketi, together with its subsidiaries, produces, markets, sells, after sales services, imports, and exports consumer durable goods and electronics in Turkey, Europe, the Asia Pacific, Africa, and internationally. It operates through White Goods, Consumer Electronics, and Other segments. It offers refrigerators, freezers, washing machines, dryers, dishwashers, ovens, microwave ovens, furnaces, hoods, mini-midi ovens, waring drawers, water dispensers, water purifiers, air conditioners, combi boilers, kettles, room heaters, fans, solar panels, inverters, sun junior energy storage system, solar UPS, folding solar panel, solar backpacks, vehicle charging devices, heat pumps, televisions, smartphones, laptop and tablets, POS cash register, portable sound system, brooms, cooking utensils, irons, hygiene products, hermetic compressors, and motor pumps. The company provides its products under the Altus, Arctic, Blomberg, Hitachi, Dawlance, Arçelik, Singer, Bauknecht, Ignis, Polar, Privileg, Beko, Defy, Indesit, Elektrabregenz, Flavel, Grundig, Hotpoint, Ariston, Leisure, and VoltasBeko brand names. Arçelik Anonim Sirketi was incorporated in 1955 and is based in Istanbul, Turkey.

Stock analysis

Arcelik AS ADR (ACKAY) currently trades at $8.72, while our model-based Fair Value estimate is $6.10, implying the stock looks roughly 43.0% overvalued today.

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Valuation

How firm this estimate is: it rests on 8 models at a data quality of 93/100, which puts the evidence level at low.

Scenario range: $5.66 (bear) to $6.48 (bull), the price of $8.72 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 32/100 (below-average quality), in the Consumer Cyclical sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Arcelik AS ADR reported revenue of 569B TRY in FY2025 versus 68.2B TRY in FY2021, a compound +69.9%/yr. Reported net income was −9.1B TRY in FY2025.

Key figures

Market cap $1.5B · EPS (TTM) $−1.40 · Net margin −1.6% · Return on equity −12.0% · Return on assets (EBIT) 4.3% · Revenue (TTM) $406B · Revenue growth (YoY) −8.8% · EPS growth (YoY) −55.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 36 out of 100 (medium confidence).

What moves the price

The share trades about 51% below its 52-week high, currently below its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at 1% fair-value upside, at −30%, ACKAY screens richer than that median.

Fair Value models

Bear $5.66 Fair Value $6.10 Bull $6.48
Model Each model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence Evidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
EPV $262.83 $280.34 $294.94 74
ROIC Compounder $262.83 $280.34 $294.94 72
Gordon GGM $60.38 $108.81 $149.79 68
All 8 models by family
Earnings-Based
EPV $262.83 $280.34 $294.94 74
Dividend Discount
Gordon GGM $60.38 $108.81 $149.79 68
DDM Multi-Stage $60.38 $99.39 $116.24 67
Multiples
EV/EBIT $567.81 $712.27 $856.74 66
EV/EBITDA $2,154 $2,827 $3,500 67
EV/Revenue $426.56 $551.76 $676.96 54
Asset-Based
NCAV (Graham) $268.06 $359.20 $536.11 54
Economic Profit
ROIC Compounder $262.83 $280.34 $294.94 72

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Quality Score breakdown

Overall quality 32/100

Of which business quality 32 · Market factors (momentum, volatility) 19

Profitability 30
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 15
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 56
Calm price path (market factor)
Momentum 6
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality Growth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+32.7%
Revenue growth 3 years Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+61.9%
Revenue growth 5 years Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+69.3%
Start year 2020 (pandemic). Over 10 years: +44.7% a year
Revenue growth 23 years Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+25.5%
Profit margin (trend) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
11.9% (2020) → 0.7% (2025)
What shareholders gained per year We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

ACKAY screens 43% overvalued. Compare with Midea Group →

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Peer GroupHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Furnishings, Fixtures & Appliances · 316 stocks

Beats the industry median on 0/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 32 · Bottom 25%
Fair Value upside −30% · Below median
Profitability
Return on assets 1% · Below median
Net margin (TTM) −2% · Bottom 25%
Operating margin (TTM) 0% · Below median
Growth and dividend
Revenue growth −9% · Below median
Balance sheet
Debt / equity 1.14× · Highest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 35
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 19
HEALTH (low debt)43 · sector 98
DIVIDEND (yield)0 · sector 62

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Furnishings, Fixtures & Appliances stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Midea Group 000333 ¥82.54 ¥129.42 +57%
Gree Electric Appliances, Inc 000651 ¥38.18 ¥97.62 +156%
Haier Smart Home Co 600690 ¥20.20 ¥45.72 +126%
King Slide Works Co 2059 12,390 TWD 4,427 TWD −64%
SharkNinja, Inc SN $169.01 $100.78 −40%
Somnigroup International Inc SGI $64.73 $31.80 −51%
De'Longhi S.p.A DLG €39.52 €40.10 +1%
Mohawk Industries, Inc MHK $121.23 $119.26 −2%
Hisense Home Appliances Group 000921 ¥26.70 ¥50.62 +90%
Alliance Laundry Holdings ALH $21.59 $10.76 −50%

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Cite: Fair Value Calculator (2026). "Arcelik AS ADR Fair Value". https://www.fairvalue-calculator.com/stock/ACKAY

Frequently asked questions

Is Arcelik AS (ACKAY) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $6.10 versus a price of $8.72, about −30% upside (overvalued).
What is the fair value of ACKAY?
Our model-based fair value for Arcelik AS ADR is $6.10 (as of Sep 24, 2026), built from audited fundamentals. The current price: $8.72.
What is the quality score of ACKAY?
Arcelik AS ADR has a Quality Score of 32/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Arcelik AS (ACKAY)?
Our model-based price target is the fair value of $6.10 (as of Sep 24, 2026) from 8 valuation models. Cautious scenario $5.66, optimistic scenario $6.48. It is a calculation from audited fundamentals, not an analyst target.
What is the Arcelik AS ADR stock forecast for 2026?
Our models put fair value at $6.10, about −30% upside versus a price of $8.72 (overvalued). Cautious scenario $5.66, optimistic scenario $6.48. The calculation is refreshed regularly with new filings.
What is the revenue of Arcelik AS (ACKAY)?
Arcelik AS ADR reported trailing-twelve-month revenue of about $406B (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Arcelik AS (ACKAY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Arcelik AS ADR it is $6.10 per share (as of Sep 24, 2026), against a price of $8.72. It is the blended result of 8 valuation models (cash flow, earnings, asset, dividend).
Is Arcelik AS ADR stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ACKAY trades above its calculated fair value: price $8.72, fair value $6.10, a gap of about −30% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ACKAY?
No. The price is what the market pays today ($8.72); the fair value is what the company's own numbers justify ($6.10). For Arcelik AS ADR the two are $2.62 per share apart. That gap is exactly why we show both numbers side by side.
How much is Arcelik AS ADR worth?
The market values Arcelik AS ADR at about $1.5B (market capitalisation, as of Sep 24, 2026). Per share that is $8.72; our models calculate a fair value of $6.10 per share.
What do the bullish and bearish scenarios say about ACKAY?
Our models span a range for Arcelik AS ADR: cautious scenario $5.66, base $6.10, optimistic $6.48 per share (as of Sep 24, 2026, price $8.72). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Arcelik AS (ACKAY)?
Balance-sheet figures for Arcelik AS ADR (as of Sep 24, 2026): return on equity −12.0%, debt of 1.14 per unit of equity. They feed the Quality Score of 32/100, which measures business quality independently of the share price.
How far is ACKAY from its 52-week high?
Arcelik AS ADR trades at $8.72, about 51% below its 52-week high of $17.92 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of $6.10 is for.
Which stocks are comparable to Arcelik AS ADR?
From the same area (Consumer Cyclical) we also value Midea Group, Gree Electric Appliances, Inc, Haier Smart Home Co, King Slide Works Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Arcelik AS ADR stock attractive at the current price?
The data as of Sep 24, 2026: price $8.72, calculated fair value $6.10 (−30%), Quality Score 32/100, from 8 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ACKAY calculated?
We run Arcelik AS ADR through 8 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $6.10, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Arcelik AS ADR itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Arcelik AS (ACKAY)?
The closing price on Sep 22, 2026 was $8.72. Our model-based fair value is $6.10, about −30% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Arcelik AS ADR right now?
The price sits above even our optimistic bull case ($6.48). The favourable scenario is already priced in. Weak quality (32/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. The models converge in a tight band ($5.66 to $6.48), unusually little disagreement for a valuation.

Key figures of Arcelik AS ADR

How large is the market capitalisation of Arcelik AS (ACKAY)?
The market capitalisation of Arcelik AS ADR is $1.5B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Arcelik AS (ACKAY)?
Earnings per share at Arcelik AS ADR are $−1.40. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Arcelik AS (ACKAY)?
The net margin of Arcelik AS ADR is −1.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Arcelik AS (ACKAY)?
The return on equity (ROE) of Arcelik AS ADR is −12.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Arcelik AS (ACKAY)?
On an EBIT basis the return on assets of Arcelik AS ADR is 4.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
How fast is revenue growing at Arcelik AS (ACKAY)?
Revenue at Arcelik AS ADR is growing −8.8% versus a year earlier (3y avg +61.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Arcelik AS (ACKAY)?
Earnings per share at Arcelik AS ADR are growing −55.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Arcelik AS (ACKAY) generate?
The free cash flow of Arcelik AS ADR is −$16.2B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Arcelik AS (ACKAY) carry?
The net debt of Arcelik AS ADR is $138B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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