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STOCK COMPARISON

Enbridge vs Naturelgaz Sanayi ve Ticaret AS: Fair Value & Quality

Both stocks run through our valuation models. Here is how Enbridge (ENB) and Naturelgaz Sanayi ve Ticaret AS (NTGAZ) compare, as of Sep 27, 2026.

As of Sep 27, 2026, Fair Value Calculator sees Enbridge as the less overvalued of the two: Enbridge trades at $46.74 versus a fair value of $36.91 (−21.0%), while Naturelgaz Sanayi ve Ticaret AS trades at TRY 10.40 versus TRY 5.13 (−50.7%).
Enbridge
ENB · USD · Energy
−21.0%
upside to fair value
overvalued
Price$46.74
Fair Value$36.91
Quality39/100
Naturelgaz Sanayi ve Ticaret AS
NTGAZ.IS · TRY · Energy
−50.7%
upside to fair value
overvalued
PriceTRY 10.40
Fair ValueTRY 5.13
Quality55/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

EnbridgeNaturelgaz Sanayi ve Ticaret AS
Valuation
22.4×P/E (TTM)7.0×
15.5×P/E ex one-offs (FY2025)n/a
16.1×Forward P/E (FY2026)n/a
1.48×P/S (TTM)0.86×
1.19×P/B1.42×
11.7×EV/EBITDA3.8×
5.32×PEGn/a
−21.0%Fair value upside−50.7%
5.8%Dividend yieldn/a
$2.71Dividend per sharen/a
Profitability
14.7%Operating margin10.6%
0.82×EBIT margin trend (5Y)1.01×
10.1%Return on equity20.0%
3.2%Return on assets13.7%
Growth
20.8%Revenue growth (YoY)12.0%
6.9%Avg. growth/yr (3Y)28.4%
10.8%Avg. growth/yr (5Y)77.3%
+10.7%Value creation/yr+24.3%
Balance & size
2.2×Interest coverage (EBIT/interest)20.9×
1.15×Debt / equity0.03×
$102BMarket cap$147M
expensiveGrowth qualitymixed
The P/E excluding one-off items is only shown where the special items are documented in the accounts (our own raw data or SEC filings). If one side lacks it, the reported P/E stays scored.

Naturelgaz Sanayi ve Ticaret AS leads: 3 to 11 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Enbridgeof which business quality 39 · market factors 46 Naturelgaz Sanayi ve Ticaret ASof which business quality 57 · market factors 53
ProfitabilityMargins and returns on capital today
29
68
Quality GrowthAre margins and returns improving?
49
70
CashflowEarnings quality: real cash, not paper profit
57
47
Fin. StrengthBalance sheet, leverage, solvency risk
18
83
InvestmentDisciplined investing over empire-building
20
12
Low VolatilityCalm price path (market factor)
86
68
MomentumPrice trend over the last 3–12 months (market factor)
31
46
52W MomentumDistance to the 52-week high (market factor)
28
48
Net IssuanceShare count: buybacks or dilution?
62
40

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyEnbridgePrice $46.74Naturelgaz Sanayi ve Ticaret ASPrice TRY 10.40
DCF Models−38.9%below the price$28.54+85.8%above the priceTRY 19.33
Earnings-Based+1.0%close to the price$47.20+339.2%above the priceTRY 45.68
Dividend Discount+104.2%above the price$95.43n/a
Multiples−23.3%below the price$35.83+40.1%above the priceTRY 14.57
Asset-Based−43.9%below the price$26.24−52.9%below the priceTRY 4.90
Growth DCF−32.5%below the price$31.57+61.8%above the priceTRY 16.83
Economic Profit−59.6%below the price$18.87+41.0%above the priceTRY 14.67
Growth Earnings+25.1%above the price$58.48+414.8%above the priceTRY 53.54
Minimum−59.6%below the price$18.87−52.9%below the priceTRY 4.90
Maximum+104.2%above the price$95.43+414.8%above the priceTRY 53.54
Median−27.9%below the price$33.70+61.8%above the priceTRY 16.83
Geometric mean−19.0%below the price$37.85+80.9%above the priceTRY 18.81

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Enbridge: 15 of 25 models see the stock below the current price.

Naturelgaz Sanayi ve Ticaret AS: 2 of 24 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Enbridge
Price $46.74
Fair Value $36.91
Bear $26.87Bull $69.94
Naturelgaz Sanayi ve Ticaret AS
Price TRY 10.40
Fair Value TRY 5.13
Bear TRY 2.95Bull TRY 6.42

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Enbridge · Energy

Quality score39 · below median
Fair value upside−21.0% · below median

Naturelgaz Sanayi ve Ticaret AS · Energy

Quality score55 · above median
Fair value upside−50.7% · bottom 25%

Bottom line

As of Sep 27, 2026, Fair Value Calculator sees Enbridge as the less overvalued of the two: Enbridge trades at $46.74 versus a fair value of $36.91 (−21.0%), while Naturelgaz Sanayi ve Ticaret AS trades at TRY 10.40 versus TRY 5.13 (−50.7%).

Naturelgaz Sanayi ve Ticaret AS has the higher quality score (55/100).

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.