Özet:

The concept of financial failure has become even more important with the effect of recent economic crises. As a matter of fact, the recent economic conjuncture has been affecting many sectors and businesses, especially critical sectors. In this respect, failure to fulfill short-term obligations, declaring a concordat with its creditors for debt restructuring, deterioration in cash flow, interruption of operations and loss of active elements, etc. the problems that arise drag businesses into financial failure and then bankruptcy. In this study, financial failure risks were estimated in the light of the data between the years 2017-2021 of 11 cement companies within the Stone and Soil Based Sector in Borsa Istanbul. Altman Z-Score and Springate S-Score models, which are frequently preferred in the literature, were used in the aforementioned risk estimations. According to the results obtained from the two models used in the study, it has been observed that the risk of financial failure in the sector is relatively low. In the evaluation to be made in terms of enterprises, it can be said that 5 companies are exposed to the risk of financial failure according to Z score values and 4 companies according to S score values.

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