Alfa Solar Enerji Sanayi ve Ticaret A.S. (ALFAS) Fair Value & Analysis
Technology · TR · Market cap 15.2B TRY
Fair value as of: Aug 4, 2026
From 6 valuation models · updated today
Share price −12.3% over the past month.
Below-average quality, and screening another 50% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (27.41 TRY). 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.
- A fairly wide model range (14.11 TRY to 27.41 TRY) leaves room in how you read the outcome.
Price vs Fair Value (4 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 4, 2026.
How to read this chart
45‑month range 7.82 TRY – 157.76 TRY · fair‑value band 14.11 TRY – 27.41 TRY · the 41.42 TRY price screens above the 20.76 TRY fair value. Dashed = 300-day average. As of Aug 4, 2026.
Analysis
Alfa Solar Enerji Sanayi ve Ticaret A.S. (ALFAS) currently trades at 41.42 TRY, while our model-based Fair Value estimate is 20.76 TRY, implying the stock looks roughly 49.9% overvalued today. We read business quality at 32/100 (below-average quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).
Over the trailing twelve months, Alfa Solar Enerji Sanayi ve Ticaret A.S. generated revenue of 7.1B TRY at a net margin of 1.0%. Revenue declined 49.5% year over year. It earns a return on equity of 1.3%. Net debt stands at 2.2B TRY. Fundamentals as of Aug 4, 2026
Our scenario range runs from 14.11 TRY (bear case) to 27.41 TRY (bull case); at 41.42 TRY, the current price sits above that range. The share trades about 38% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at 5% fair-value upside, at -50%, ALFAS screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 6 models by family
Widest divergence: Multiples (26.27 TRY) versus Asset-Based (9.62 TRY). Highest evidence: ROIC Compounder (72).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 4, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 33 · Market factors (momentum, volatility) 41
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Alfa Solar Enerji Sanayi ve Ticaret A.S. engages in the manufacture and sale of solar panels in Turkey, Romania, and Greece. It operates through Solar Panel Production, Electricity Production, and Technology Investments segments. It provides cell halfcut, halfcut black, bifacial, and topcon panels.
Full company description
Alfa Solar Enerji Sanayi ve Ticaret A.S. engages in the manufacture and sale of solar panels in Turkey, Romania, and Greece. It operates through Solar Panel Production, Electricity Production, and Technology Investments segments. It provides cell halfcut, halfcut black, bifacial, and topcon panels. The company was founded in 2011 and is headquartered in Ankara, Turkey. Alfa Solar Enerji Sanayi ve Ticaret A.S. is a subsidiary of Alfa Kazan Enerji ve Çevre Yatirimlari A.S.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Alfa Solar Enerji Sanayi ve Ticaret A.S. reported revenue of 8.2B TRY in FY2025 versus 439M TRY in FY2021, a compound +108.2%/yr. Reported net income was −10.8M TRY in FY2025.
ALFAS screens 50% overvalued. Compare with First Solar, Inc →
Peer Group
Solar · 122 stocks
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.
Valuation Multiples vs Solar median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Solar stocks, each showing price versus our Fair Value estimate (as of Aug 4, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| First Solar, Inc FSLR | $221.03 | $284.45 | +29% |
| Nextpower Inc NXT | $111.50 | $69.61 | -38% |
| Tongwei Co 600438 | ¥11.12 | ¥12.13 | +9% |
| Waaree Energies Limited WAAREEENER | ₹2,923 | ₹3,613 | +24% |
| Jinko Solar Co 688223 | ¥4.39 | ¥4.75 | +8% |
| Hengdian Group 002056 | ¥21.64 | ¥22.76 | +5% |
| CSI Solar Co 688472 | ¥10.11 | ¥7.01 | -31% |
| Enphase Energy, Inc ENPH | $44.83 | $22.20 | -50% |
| Premier Energies Limited PREMIERENE | ₹1,086 | ₹912.32 | -16% |
| Trina Solar Co 688599 | ¥12.98 | ¥7.97 | -39% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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