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Ayen Enerji A.S., (AYEN) Fair Value & Analysis

Utilities · TR · Market cap 8.8B TRY

AE Ayen Enerji A.S., AYEN · IS
Price31.04 TRY
Fair Value23.93 TRY
Upside-22.9%
Quality50/100
Mixed Growth
Thin margins · 3.1% net margin
Low debt · generates free cash flow
Mixed vs. peers (8/14)
Moderate moat 47/100
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Evidence: High Range 16.75 TRY – 23.93 TRY Share as image

Fair value as of: Jul 31, 2026

From 26 valuation models · updated today

Share price −11.1% over the past month.

What matters now

  • The price sits above even our optimistic bull case (23.93 TRY). The favourable scenario is already priced in.
  • Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (12 months)

45.24 TRY 23.65 TRY Fair Value 23.93 TRY Aug 2025 Jul 2026

12‑month range 23.65 TRY – 45.24 TRY · fair‑value band 16.75 TRY – 23.93 TRY · the 31.04 TRY price screens above the 23.93 TRY fair value. As of Jul 31, 2026.

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Analysis

Ayen Enerji A.S., (AYEN) currently trades at 31.04 TRY, while our model-based Fair Value estimate is 23.93 TRY, implying the stock looks roughly 22.9% overvalued today. We read business quality at 50/100 (solid quality), in the Utilities 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: high).

Over the trailing twelve months, Ayen Enerji A.S., generated revenue of 7.4B TRY at a net margin of 3.1%. Revenue declined 19.0% year over year. It earns a return on equity of 1.8%. Net debt stands at 6.2B TRY. Fundamentals as of Jul 31, 2026

Our scenario range runs from 16.75 TRY (bear case) to 23.93 TRY (bull case); at 31.04 TRY, the current price sits above that range. The share trades about 32% below its 52-week high and 32% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at -28% fair-value upside, at -23%, AYEN screens cheaper than that median.

Key figures & financial health

Revenue (TTM) 7.4B TRY
Revenue growth (YoY) -19.0%
Net margin 3.1%
Return on equity 1.8%
Free cash flow 1.6B TRY FY2025
P/E ratio 38.0
More key figures
Operating margin 38.1%
EPS (TTM) 0.8300 TRY
EPS growth (YoY) -5.4%
Net debt 6.2B TRY FY2025

Figures from reported company fundamentals · as of Jul 31, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100
Profitability 18
Quality Growth 32
Cashflow 90
Fin. Strength 42
Investment 33
Low Volatility 64
Momentum 51
52W Momentum 44
Net Issuance 82

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

Ayen Enerji A.S., together with its subsidiaries, engages in the production, distribution, and trading of electricity in Turkey and internationally. It generates electricity through hydroelectric, solar, and wind sources. The company also engages in trading activities. Ayen Enerji A.S. was incorporated in 1990 and is based in Ankara, Turkey. Ayen Enerji A.S.

Full company description

Ayen Enerji A.S., together with its subsidiaries, engages in the production, distribution, and trading of electricity in Turkey and internationally. It generates electricity through hydroelectric, solar, and wind sources. The company also engages in trading activities. Ayen Enerji A.S. was incorporated in 1990 and is based in Ankara, Turkey. Ayen Enerji A.S. operates as a subsidiary of Aydiner Insaat AS.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ayen Enerji A.S., reported revenue of 7.9B TRL in FY2025 versus 1.6B TRL in FY2021, a compound +49.5%/yr. Reported net income was 236M TRL in FY2025, compounding +20.6%/yr from FY2021.

Revenue +49.5%/yr
FY21 1.6B TRL
FY22 6.8B TRL
FY23 7.6B TRL
FY24 8.5B TRL
FY25 7.9B TRL
Net income +20.6%/yr
FY21 112M TRL
FY22 1.6B TRL
FY23 2.0B TRL
FY24 1.0B TRL
FY25 236M TRL

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Cite: Fair Value Calculator (2026). "Ayen Enerji A.S., Fair Value". https://www.fairvalue-calculator.com/stock/AYEN

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 3 / 10
FUTURE 0 / 0
PAST 7 / 11
HEALTH 86 / 67
DIVIDEND 0 / 52

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Utilities - Renewable stocks, each showing price versus our Fair Value estimate (as of Jul 31, 2026).

Stock Price Fair Value vs Fair Value
China Yangtze Power Co 600900 ¥26.94 ¥25.13 -7%
Ørsted A/S D2G €21.98 €8.27 -62%
Huaneng Lancang River Hydropower Inc 600025 ¥9.73 ¥2.95 -70%
Adani Green Energy Limited ADANIGREEN ₹1,550 ₹170.50 -89%
AXIA Energia SA AXIAP $10.74 $9.67 -10%
VERBUND AG VER €56.00 €115.52 +106%
BEP BEP $35.24 $53.74 +52%
BEPUN BEPUN C$50.26 C$27.28 -46%
Fortum Oyj FOJCF $22.79 $15.78 -31%
China Longyuan Power Group 001289 ¥17.99 ¥12.93 -28%

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Frequently asked questions

Is Ayen Enerji A.S., (AYEN) overvalued or undervalued?
As of Jul 31, 2026, our model estimates a fair value of 23.93 TRY versus a price of 31.04 TRY, about −23% (overvalued).
What is the fair value of AYEN?
Our model-based fair value for Ayen Enerji A.S., is 23.93 TRY (as of Jul 31, 2026), built from audited fundamentals. The current price is 31.04 TRY.
What is the quality score of AYEN?
Ayen Enerji A.S., has a Quality Score of 50/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Ayen Enerji A.S., (AYEN)?
Ayen Enerji A.S., reported trailing-twelve-month revenue of about 7.4B TRY (latest available figure, as of Jul 31, 2026).
What is the net profit margin of AYEN?
The net profit margin of Ayen Enerji A.S., is about 3.1%, meaning it keeps roughly 3.1% of revenue as net income. Based on the latest reported figures.

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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