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CW Enerji SA (CWENE) fair value: what the stock is really worth

As of Nov 3, 2026: fair value (intrinsic value) of CW Enerji SA stock TRY 43.11, price TRY 14.88, upside +189.7%, quality 29 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

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Technology TR · ISIN TRECWEN00012

CE CW Enerji SA logo Thin data Nov 4, 2026

CW Enerji SA

CWENE · IS
Cheap, value-trap risk

The stock costs 65% less than our calculation considers fair.

Fair value 43.11 TRY · Strongly undervalued (65%)
Solidly profitable · 15.9% net margin (TTM)
Low debt
Ranks above peers (11/13)
Costs just 5.4 times its yearly profit.
Expensive Growth (revenue YoY +18.8 %/yr in TRY)
Moderate moat 62/100 · thin data
Quality 29/100
Negative free cash flow
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

46.80 TRY 12.45 TRY Fair Value 43.11 TRY May 2023 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.

How to read this chart

42‑month range 12.45 TRY – 46.80 TRY · fair‑value band 30.17 TRY – 56.04 TRY · the 14.88 TRY price screens below the 43.11 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.

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Company profile

CW Enerji Mühendislik Ticaret ve Sanayi Anonim Sirketi operates in the photovoltaic power generation sector in Turkey.

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It provides solar panels; solar packs; heating, cooling, and hot water products; inverters; solar equipment; electric vehicle chargers; charge controllers; energy storage solutions; and solar lighting solutions.

The company also offers solar powered camera systems and signages, LED lighting systems, solar-powered irrigation systems, off-grid and on-grid solutions, technical service and maintenance agreement, and application and follow-up counseling services.

CW Enerji Mühendislik Ticaret ve Sanayi Anonim Sirketi was incorporated in 2010 and is headquartered in Antalya, Turkey.

Stock analysis

CW Enerji SA (CWENE) currently trades at 14.88 TRY, while our model-based Fair Value estimate is 43.11 TRY, implying the stock looks roughly 65% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of 50.79 TRY per share, and 8 of the 14 models we run sit above the 14.88 TRY price.

Bear case: the Asset-Based group reads lowest at 8.54 TRY, and 6 of the 14 models stay below the price. Data coverage for this calculation is low.

Scenario range: 30.17 TRY (bear) to 56.04 TRY (bull), the price of 14.88 TRY sits below 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 29/100 (below-average quality), in the Technology sector.

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

CW Enerji SA reported revenue of 16.4B TRY in FY2025 versus 16.6B TRY in FY2023, a compound −0.8%/yr. Reported net income was 2.2B TRY in FY2025, compounding +101.3%/yr from FY2023.

Key figures

Market cap 16.0B TRY (≈ $321M) Small · P/E ratio 5.4 · P/S ratio 0.90 · EPS (TTM) 2.74 TRY · Dividend yield 0.9% · Net margin 15.9% · Return on equity 19.7% · Return on assets (EBIT) 13.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 62 out of 100 (low confidence).

What moves the price

The share trades about 68% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at 190%, CWENE screens cheaper than that median.

Fair Value models

Bear 30.17 TRY Fair Value 43.11 TRY Bull 56.04 TRY
Price 14.88 TRY · Upside +189.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (2.31 TRY per share) are deliberately not added. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = 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.
Best data coverage
EPV 10.78 TRY 11.98 TRY 12.93 TRY 71
Residual Income 11.33 TRY 12.79 TRY 15.05 TRY 69
EV/EBITDA 36.94 TRY 50.79 TRY 64.64 TRY 67
All 14 models by family
Earnings-Based
Graham-Dodd 13.97 TRY 17.07 TRY 19.21 TRY 61
EPV 10.78 TRY 11.98 TRY 12.93 TRY 71
Dividend Discount
Gordon GGM 0.7800 TRY 0.8200 TRY 0.8900 TRY 63
DDM Multi-Stage 0.7800 TRY 0.8700 TRY 0.9900 TRY 61
Multiples
P/E Multiple 43.14 TRY 57.52 TRY 71.90 TRY 63
P/S Multiple 26.19 TRY 34.92 TRY 43.65 TRY 58
P/B Multiple 57.36 TRY 76.47 TRY 95.59 TRY 55
EV/EBIT 39.18 TRY 53.78 TRY 68.38 TRY 66
EV/EBITDA 36.94 TRY 50.79 TRY 64.64 TRY 67
EV/Revenue 17.53 TRY 27.02 TRY 36.51 TRY 53
Asset-Based
NCAV (Graham) 6.37 TRY 8.54 TRY 12.75 TRY 54
Economic Profit
Residual Income 11.33 TRY 12.79 TRY 15.05 TRY 69
ROIC Compounder 10.78 TRY 11.98 TRY 12.93 TRY 66
Growth Earnings
Growth-Adj P/E 30.17 TRY 43.11 TRY 56.04 TRY 61

Open the full fair value analysis →

Quality Score breakdown

Overall quality 29/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 47
How much profit the company makes from its sales and capital
Quality Growth 67
Are margins and returns getting better?
Cashflow 7
Do the profits arrive as real cash?
Financial strength 45
Debt, balance sheet and risk of trouble
Investment 0
Does it invest with discipline instead of growing at any price?
Low Volatility 40
How calm the share price moves, does not count
Price momentum 6
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 2
Distance to the 52-week high, does not count
New shares 2
Buys back shares or issues new ones?

Open the full quality analysis →

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. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: only 3 usable fiscal years, at least 4 required
not computed

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Peer GroupⓘHow 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.Solar · 98 stocks

Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 29 · Bottom 25%
Fair Value upside +189.7% · Top 25%
Profitability
Return on equity (12 months) 19.7% · Top 25%
Return on assets 7.7% · Top 25%
Net margin (12 months) 15.9% · Top 25%
Operating margin (12 months) 15.8% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) 8.6% · Above median
Dividend yield (12 months) 0.9% · Below median
Balance sheet
Debt / equity 0.12× · Below median

Valuation Multiplesvs Solar median · lower = cheaper

P/E (12 months) 5.4× · Cheapest 25%
P/B 1.15× · Cheaper than median
P/S (12 months) 0.90× · Cheaper than median
EV/EBITDA 5.1× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 3
FUTURE (revenue growth)43 · sector 14
PAST (return on equity)79 · sector 0
HEALTH (low debt)94 · sector 82
DIVIDEND (yield)18 · sector 26

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 Solar stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
First Solar, Inc FSLR $185.90 $392.02 +111% vs CWENE
Hengdian Group 002056 ¥16.36 ¥31.86 +95% vs CWENE
Jinko Solar Co 688223 ¥4.07 ¥6.49 +59% vs CWENE
Waaree Energies Limited WAAREEENER ₹2,318 ₹3,613 +56% vs CWENE
Nextpower Inc NXT $96.02 $105.62 +10% vs CWENE
Tongwei Co 600438 ¥11.48 ¥12.13 +6% vs CWENE
Hanwha Solutions Corporation 009830 23,600 KRW 21,850 KRW −7% vs CWENE
Premier Energies Limited PREMIERENE ₹890.00 ₹648.56 −27% vs CWENE
CSI Solar Co 688472 ¥8.23 ¥5.85 −29% vs CWENE
Shanghai Aiko Solar Energy Co 600732 ¥12.20 ¥7.22 −41% vs CWENE

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CW Enerji SA: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "CW Enerji SA Fair Value". https://www.fairvalue-calculator.com/stock/CWENE

Frequently asked questions

Is CW Enerji SA (CWENE) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of 43.11 TRY versus a price of 14.88 TRY, about +190% upside (undervalued).
What is the fair value of CWENE?
Our model-based fair value for CW Enerji SA is 43.11 TRY (as of Nov 4, 2026), built from audited fundamentals. The current price: 14.88 TRY.
What is the quality score of CWENE?
CW Enerji SA has a Quality Score of 29/100. 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 CW Enerji SA (CWENE)?
Our model-based price target is the fair value of 43.11 TRY (as of Nov 4, 2026) from 14 valuation models. Cautious scenario 30.17 TRY, optimistic scenario 56.04 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the CW Enerji SA stock forecast for 2026?
Our models put fair value at 43.11 TRY, about +190% upside versus a price of 14.88 TRY (undervalued). Cautious scenario 30.17 TRY, optimistic scenario 56.04 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of CW Enerji SA (CWENE)?
CW Enerji SA reported trailing-twelve-month revenue of about 17.8B TRY (latest available figure, as of Nov 4, 2026).
Does CW Enerji SA pay a dividend?
CW Enerji SA currently shows a dividend yield of 0.90% relative to its recent price (as of Nov 4, 2026).
What is the intrinsic value of CW Enerji SA (CWENE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For CW Enerji SA it is 43.11 TRY per share (as of Nov 4, 2026), against a price of 14.88 TRY. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is CW Enerji SA stock overvalued or undervalued in 2026?
As of Nov 4, 2026, CWENE trades below its calculated fair value: price 14.88 TRY, fair value 43.11 TRY, a gap of about +190% (undervalued). 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 CWENE?
No. The price is what the market pays today (14.88 TRY); the fair value is what the company's own numbers justify (43.11 TRY). For CW Enerji SA the two are 28.23 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is CW Enerji SA worth?
The market values CW Enerji SA at about 16.0B TRY (market capitalisation, as of Nov 4, 2026). Per share that is 14.88 TRY; our models calculate a fair value of 43.11 TRY per share.
What do the bullish and bearish scenarios say about CWENE?
Our models span a range for CW Enerji SA: cautious scenario 30.17 TRY, base 43.11 TRY, optimistic 56.04 TRY per share (as of Nov 4, 2026, price 14.88 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CWENE?
CW Enerji SA trades at a price-to-earnings ratio of 5.4 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 43.11 TRY is built from several models across several years. Other multiples: P/B 1.2, P/S 0.9, EV/EBITDA 5.1.
How solid is the balance sheet of CW Enerji SA (CWENE)?
Balance-sheet figures for CW Enerji SA (as of Nov 4, 2026): return on equity 19.7%, debt of 0.12 per unit of equity. They feed the Quality Score of 29/100, which measures business quality independently of the share price.
How far is CWENE from its 52-week high?
CW Enerji SA trades at 14.88 TRY, about 68% below its 52-week high of 46.80 TRY and 9% above the low of 13.64 TRY (as of Nov 3, 2026). Distance from the high says nothing about value: that is what the fair value of 43.11 TRY is for.
Which stocks are comparable to CW Enerji SA?
From the same area (Technology) we also value First Solar, Inc, Nextpower Inc, Tongwei Co, Waaree Energies Limited, 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 CW Enerji SA stock attractive at the current price?
The data as of Nov 4, 2026: price 14.88 TRY, calculated fair value 43.11 TRY (+190%), Quality Score 29/100, from 14 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 CWENE calculated?
We run CW Enerji SA through 14 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 43.11 TRY, 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 14.5% above its aggregate fair value. CW Enerji SA currently trades 65% below its own fair value, and the market average says nothing about that. 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 CW Enerji SA (CWENE)?
The closing price on Nov 3, 2026 was 14.88 TRY. Our model-based fair value is 43.11 TRY, about +190% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with CW Enerji SA right now?
The large discount to fair value meets weak quality (29/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (30.17 TRY). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (30.17 TRY to 56.04 TRY) leaves room in how you read the outcome.

Key figures of CW Enerji SA

How large is the market capitalisation of CW Enerji SA (CWENE)?
The market capitalisation of CW Enerji SA is 16.0B TRY (≈ $321M). 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 is the P/S ratio of CW Enerji SA (CWENE)?
The price-to-sales ratio of CW Enerji SA is 0.90 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of CW Enerji SA (CWENE)?
Earnings per share at CW Enerji SA are 2.74 TRY (price ÷ EPS = P/E 5.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of CW Enerji SA (CWENE)?
The dividend yield of CW Enerji SA is 0.9% (payout 4.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of CW Enerji SA (CWENE)?
The net margin of CW Enerji SA is 15.9% (last twelve months). 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 CW Enerji SA (CWENE)?
The return on equity (ROE) of CW Enerji SA is 19.7% (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 CW Enerji SA (CWENE)?
On an EBIT basis the return on assets of CW Enerji SA is 13.5% (avg 3y). 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.
What is the operating margin of CW Enerji SA (CWENE)?
The operating margin of CW Enerji SA is 15.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at CW Enerji SA (CWENE)?
Revenue at CW Enerji SA is growing +8.6% versus a year earlier. 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 CW Enerji SA (CWENE)?
Earnings per share at CW Enerji SA are growing +76.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does CW Enerji SA (CWENE) generate?
The free cash flow of CW Enerji SA is −5.7B TRY (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 CW Enerji SA (CWENE) carry?
The net debt of CW Enerji SA is 5.0B TRY (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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