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Biotrend Cevre ve Enerji Yatirimlari A.S. (BIOEN) Fair Value & Analysis

Utilities · TR · Market cap 8.8B TRY

BC Biotrend Cevre ve Enerji Yatirimlari A.S. BIOEN · IS
Price17.90 TRY
Fair Value1.96 TRY
Upside-89.1%
Quality27/100
Expensive Growth
Loss-making · -30.4% net margin
Moderate debt · generates free cash flow
Trails peers (4/13)
Narrow moat 0/100
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Evidence: Medium Range 1.96 TRY – 3.25 TRY Share as image

Fair value as of: Aug 5, 2026

From 9 valuation models · updated today

Share price −4.6% over the past month.

Below-average quality, and screening another 89% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (3.25 TRY). The favourable scenario is already priced in.
  • Weak quality (27/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

27.12 TRY 4.74 TRY Fair Value 1.96 TRY May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 5, 2026.

How to read this chart

60‑month range 4.74 TRY – 27.12 TRY · fair‑value band 1.96 TRY – 3.25 TRY · the 17.90 TRY price screens above the 1.96 TRY fair value. Dashed = 300-day average. As of Aug 5, 2026.

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Analysis

Biotrend Cevre ve Enerji Yatirimlari A.S. (BIOEN) currently trades at 17.90 TRY, while our model-based Fair Value estimate is 1.96 TRY, implying the stock looks roughly 89.1% overvalued today. We read business quality at 27/100 (below-average 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: medium).

Over the trailing twelve months, Biotrend Cevre ve Enerji Yatirimlari A.S. generated revenue of 2.8B TRY at a net margin of -30.4%. Revenue declined 13.7% year over year. It earns a return on equity of -23.3%. Net debt stands at 4.9B TRY. Fundamentals as of Aug 5, 2026

Our scenario range runs from 1.96 TRY (bear case) to 3.25 TRY (bull case); at 17.90 TRY, the current price sits above that range. The share trades about 36% below its 52-week high and 22% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -30% fair-value upside, at -89%, BIOEN 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 2.05 TRY 8.74 TRY 80
Rev-Margin DCF 0.3100 TRY 6.65 TRY 74
EV/EBITDA 0.4800 TRY 2.87 TRY 5.26 TRY 54
All 9 models by family
DCF Models
FCF DCF 0.8400 TRY 9.07 TRY 38
5Y Revenue Exit 4.67 TRY 39
5Y EBITDA Exit 5.66 TRY 16.76 TRY 41
10Y Revenue Exit 1.61 TRY 4.29 TRY 36
10Y EBITDA Exit 8.09 TRY 23.24 TRY 37
Multiples
EV/EBITDA 0.4800 TRY 2.87 TRY 5.26 TRY 54
Asset-Based
NCAV (Graham) 2.79 TRY 3.74 TRY 5.58 TRY 50
Growth DCF
Growth DCF 2.05 TRY 8.74 TRY 80
Rev-Margin DCF 0.3100 TRY 6.65 TRY 74

Widest divergence: Asset-Based (3.74 TRY) versus Growth DCF (0.3100 TRY). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 2.8B TRY
Revenue growth (YoY) -13.7%
Net margin -30.4%
Return on equity -23.3%
Free cash flow 154M TRY FY2025
P/E ratio 4.6
More key figures
Operating margin -34.0%
EPS (TTM) 3.81 TRY
EPS growth (YoY) +67.0%
Net debt 4.9B TRY FY2025

Figures from reported company fundamentals · as of Aug 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 27/100

Of which business quality 29 · Market factors (momentum, volatility) 37

Profitability 3
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 40
Earnings quality: real cash, not paper profit
Fin. Strength 12
Balance sheet, leverage, solvency risk
Investment 1
Disciplined investing over empire-building
Low Volatility 65
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 23
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

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

Biotrend Cevre ve Enerji Yatirimlari A.S. engages in integrated waste management-oriented renewable energy, circular raw materials, and fuel production activities in Turkey.

Full company description

Biotrend Cevre ve Enerji Yatirimlari A.S. engages in integrated waste management-oriented renewable energy, circular raw materials, and fuel production activities in Turkey. It is involved in the waste disposal; mechanical sorting; recycled products; refuse-derived fuel; generation of electricity and heat from biogas, landfill gas, and biomass; carbon trading; composting; sanitary landfills; and greenhouse farming. The company also engages in production of energy using fermentation, , incineration technologies; operation of solid waste storage areas, mechanical separation plant, waste derived fuel preparation plant, leachate treatment plant, biological treatment plant, and landfill gas; and installation and operation of power generation plants, as well as provision of engineering, contracting, and consulting services. The company was founded in 2017 and is headquartered in Istanbul, Turkey. Biotrend Cevre ve Enerji Yatirimlari A.S. operates as a subsidiary of Doganlar Investment Holding A.S.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Biotrend Cevre ve Enerji Yatirimlari A.S. reported revenue of 2.9B TRY in FY2025 versus 428M TRY in FY2021, a compound +62.0%/yr. Reported net income was −1.4B TRY in FY2025.

Growth Quality 50/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
2.9B TRY
Latest YoY
−17.3%
Avg. growth/yr (3Y)
+33.7%
Avg. growth/yr (5Y)
+64.4%
Avg. growth/yr (7Y)
+79.4%
Revenue +62.0%/yr
FY21 428M TRY
FY22 1.2B TRY
FY23 3.2B TRY
FY24 3.6B TRY
FY25 2.9B TRY
Net income
FY21 3.8M TRY
FY22 311M TRY
FY23 1.4B TRY
FY24 −87.6M TRY
FY25 −1.4B TRY

BIOEN screens 89% overvalued. Compare with China Yangtze Power Co →

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Cite: Fair Value Calculator (2026). "Biotrend Cevre ve Enerji Yatirimlari A.S. Fair Value". https://www.fairvalue-calculator.com/stock/BIOEN

Peer Group

Utilities - Renewable · 220 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.

Quality Score 27 · Bottom 25%
Fair Value upside −89% · Bottom 25%
Return on assets -4% · Bottom 25%
Net margin (TTM) -30% · Bottom 25%
Operating margin (TTM) -34% · Bottom 25%
Revenue growth -14% · Below median
Debt / equity 1.22× · Higher than median

Valuation Multiples vs Utilities - Renewable median · lower = cheaper

P/E (TTM) 4.6× · Cheaper than 75% of peers
P/B 0.07× · Cheaper than 75% of peers
P/S (TTM) 0.07× · Cheaper than 75% of peers
P/FCF 1.2× · Cheaper than median
EV/EBITDA 40.1× · Pricier than 75% of peers

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 · sector 9
FUTURE 0 · sector 0
PAST 0 · sector 11
HEALTH 39 · sector 67
DIVIDEND 0 · sector 53

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.

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 Aug 5, 2026).

Stock Price Fair Value vs Fair Value
China Yangtze Power Co 600900 ¥27.99 ¥25.13 -10%
Ørsted A/S ORSTED kr 149.70 kr 31.40 -79%
Huaneng Lancang River Hydropower Inc 600025 ¥9.81 ¥5.57 -43%
Adani Green Energy Limited ADANIGREEN ₹1,537 ₹170.50 -89%
AXIA Energia SA AXIAP $10.74 $9.65 -10%
VERBUND AG OEWA €58.65 €66.19 +13%
BEP BEP $32.33 $73.35 +127%
BEPUN BEPUN C$44.56 C$10.15 -77%
Fortum Oyj FORTUM €19.89 €13.90 -30%
China Longyuan Power Group 001289 ¥16.21 ¥8.23 -49%

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Frequently asked questions

Is Biotrend Cevre ve Enerji Yatirimlari A.S. (BIOEN) overvalued or undervalued?
As of Aug 5, 2026, our model estimates a fair value of 1.96 TRY versus a price of 17.90 TRY, about −89% (overvalued).
What is the fair value of BIOEN?
Our model-based fair value for Biotrend Cevre ve Enerji Yatirimlari A.S. is 1.96 TRY (as of Aug 5, 2026), built from audited fundamentals. The current price is 17.90 TRY.
What is the quality score of BIOEN?
Biotrend Cevre ve Enerji Yatirimlari A.S. has a Quality Score of 27/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Biotrend Cevre ve Enerji Yatirimlari A.S. (BIOEN)?
Biotrend Cevre ve Enerji Yatirimlari A.S. reported trailing-twelve-month revenue of about 2.8B TRY (latest available figure, as of Aug 5, 2026).
What is the net profit margin of BIOEN?
The net profit margin of Biotrend Cevre ve Enerji Yatirimlari A.S. is about -30.4%, meaning it is currently running at a net loss. 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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