Arcelik (ACKAY) AI Stock Analysis

• Market Cap: $1.73B
• Dividend Yield: N/A
• Average Volume (3M): 10.00
• Price to Earnings (P/E): ―
• Beta (1Y): 0.28
• Revenue Growth: 2.58%
• EPS Growth: 30.99%
• Country: US
• Employees: 53,401
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Furnishings, Fixtures & Appliances
• EPS (TTM): -0.37
• Shares Outstanding: 135,145,600
• 10 Day Avg. Volume: 0
• 30 Day Avg. Volume: 10
• PEG Ratio: 0.01
• Price to Book (P/B): 0.98
• Price to Sales (P/S): 0.12
• P/FCF Ratio: -4.23
• Enterprise Value/Market Cap: 123.90
• Enterprise Value/Revenue: 0.38
• Enterprise Value/Gross Profit: 1.44
• Enterprise Value/Ebitda: 3.98
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.52
• Revenue Forecast (FY): $15.20B

• Rating: 46 Neutral
• Price Target: $12.00 ▼(-7.34% Downside)
• Action: Reiterated Date: 02/05/26
• Date: Action: Reiterated 02/05/26

The score is mainly held down by weakening fundamentals: a 2025 net loss, rising leverage, and persistently negative free cash flow. Technicals are a partial offset with price above key moving averages and positive MACD, though momentum appears stretched (overbought Stoch). Valuation is constrained by loss-making earnings (negative P/E) and no provided dividend yield.

Positive Factors

Brand portfolio & geographic diversification

Arçelik's well-known brands (Beko, Arçelik) and broad international footprint provide durable demand channels and pricing flexibility. Strong brand recognition supports volume across regions, aids retailer/distributor relationships, and sustains after-sales service revenue tied to installed base over the medium term.

Revenue scale and growth

Consistent top-line scaling indicates successful market penetration and distribution execution. Larger revenue base enhances purchasing scale, manufacturing leverage and product mix optionality, which can lead to sustainable cost advantages and support reinvestment in R&D and channels over coming quarters.

Positive operating profitability

Positive operating profit shows core appliance operations still generate margin before financing and exceptional items. That implies the business model and manufacturing footprint can cover operating costs, so correcting non-operating costs or one-off charges could restore net profitability without structural product changes.

Negative Factors

Rising leverage

A sharp increase in leverage materially reduces financial flexibility and raises interest burden. With debt-to-equity near 3.5x, the company faces greater refinancing and covenant risk, limiting capacity to invest or withstand demand shocks across the 2–6 month horizon and pressuring long-run credit metrics.

Recurring negative free cash flow

Persistent negative free cash flow forces reliance on external financing or working-capital swings to fund operations and capex. Over months this constrains ability to reduce leverage, fund product investment, or expand margins, and increases vulnerability to higher borrowing costs or tighter credit markets.

Deteriorating profitability & margins

The move to a net loss and falling gross margins signals structural cost pressure or adverse mix that undermines earnings quality. If margin erosion persists, it will hamper return on capital, limit ability to service higher debt, and reduce retained earnings available for strategic investments.

Arcelik Business Overview & Revenue Model

Company Description

Arçelik Anonim Sirketi, together with its subsidiaries, produces, markets, sells, services, imports, and exports consumer durable goods and electronics in Turkey and internationally. It operates through White Goods, Consumer Electronics, and Other segments. It offers top and front door washing machines, horizontal and vertical deep freezers, split air conditioners, microwave ovens, water dispensers, cooking appliances, washing machines, dishwashers, coolers, gas and/or electric cookers, refrigerators, coffee machines, laundry and washer-dryers, hoods, and built-in cooking products. The company also provides televisions, computers, cash registers, and other electronic devices. It offers its products under the Arçelik, Beko, Grundig, Defy, Arctic, Dawlance, Elektrabregenz, Blomberg, VoltasBeko, Leisure, Altus, and Flavel brand names. The company was incorporated in 1955 and is headquartered in Istanbul, Turkey.

How the Company Makes Money

Arçelik primarily makes money by selling finished products in the home appliances and consumer electronics categories through multiple go-to-market channels. Its core revenue stream is the sale of major domestic appliances (e.g., refrigeration, laundry, dishwashing, cooking) and small domestic appliances to consumers, typically via retailers, distributors, and direct/partnered sales channels depending on the market. The company also earns revenue from after-sales activities tied to its installed base, such as service, maintenance, repairs, and spare parts. Revenues are supported by its brand portfolio (notably Beko and Arçelik), which helps drive volume and pricing across different regions and customer segments. Additional factors that can influence earnings include product mix (premium vs. value offerings), geographic mix (performance across different markets), and scale efficiencies from manufacturing and procurement; specific partnership details are null.

Arcelik Financial Statement Overview

Summary

Income statement shows strong revenue growth but a sharp deterioration in profitability (swing to net loss in 2025) and declining gross margin. Balance sheet risk is high with sharply higher leverage (debt-to-equity rising to ~3.5x) and negative ROE. Cash flow quality is weak with recurring negative free cash flow and low cash generation relative to scale, increasing financing risk.

Income Statement

Revenue has scaled rapidly over the last several years, including strong growth in the most recent annual period (2025). However, profitability has deteriorated materially: the company moved from modest profits in 2024 to a net loss in 2025, and gross margin has trended down from earlier years. Operating profitability remains positive, but the sharp swing to losses points to cost pressure and weaker earnings quality despite top-line momentum.

Balance Sheet

Leverage is elevated and rising: debt-to-equity increased from ~2.1x (2024) to ~3.5x (2025), alongside a large increase in total debt. With 2025 in a net loss position, return on equity turned negative, reducing financial flexibility. While the asset base has expanded, the balance sheet risk is dominated by higher debt load and weaker earnings capacity to support it.

Cash Flow

Cash generation is weak relative to the company’s scale. Operating cash flow is positive in 2025 but very low versus reported earnings levels, and free cash flow remains meaningfully negative in recent years (including 2024–2025). The pattern of recurring free-cash-flow deficits suggests reliance on financing and/or working-capital swings, increasing risk in a higher-leverage setup.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	568.57B	428.55B	257.10B	133.92B	68.18B
Gross Profit	148.78B	118.10B	75.38B	39.49B	20.48B
EBITDA	53.92B	36.25B	24.33B	11.65B	7.55B
Net Income	-9.07B	1.69B	7.67B	4.32B	3.06B
Balance Sheet
Total Assets	543.25B	397.73B	258.14B	132.24B	85.08B
Cash, Cash Equivalents and Short-Term Investments	97.78B	50.82B	48.79B	24.53B	16.01B
Total Debt	243.58B	138.04B	101.91B	51.44B	32.58B
Total Liabilities	467.39B	322.66B	198.57B	105.14B	64.02B
Stockholders Equity	70.35B	67.17B	53.17B	24.95B	19.38B
Cash Flow
Free Cash Flow	-16.23B	-9.41B	-22.43B	-811.47M	-3.14B
Operating Cash Flow	3.60B	14.39B	-8.64B	5.10B	-627.45M
Investing Cash Flow	-29.05B	-14.72B	-14.41B	-4.62B	-4.38B
Financing Cash Flow	53.96B	1.06B	31.54B	4.07B	4.80B

Arcelik Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 12.95
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ACKAY, the sentiment is Negative. The current price of 12.95 is below the 20-day moving average (MA) of 13.52, below the 50-day MA of 13.22, and below the 200-day MA of 14.17, indicating a bearish trend. The MACD of -0.27 indicates Positive momentum. The RSI at 44.85 is Neutral, neither overbought nor oversold. The STOCH value of 41.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ACKAY.

Arcelik Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TILE	74 Outperform	$1.61B	14.41	15.93%	0.21%	5.11%	34.02%
MHK	67 Neutral	$6.54B	18.35	4.50%	―	-0.82%	-23.99%
LZB	65 Neutral	$1.36B	18.08	8.12%	2.39%	1.78%	-25.36%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
MLKN	59 Neutral	$1.31B	11.21	-1.98%	4.16%	4.34%	-141.36%
WHR	47 Neutral	$3.29B	12.74	12.72%	7.40%	-11.36%	-133.01%
ACKAY	46 Neutral	$1.73B	-7.57	-11.41%	―	2.58%	30.99%