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Can2 Termik AS (CANTE) fair value: what the stock is really worth

As of Nov 2, 2026: fair value (intrinsic value) of Can2 Termik AS stock TRY 0.56, price TRY 0.90, that is 37.8% below the price, quality 29 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

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Utilities TR · ISIN TRECAN200011

CT Can2 Termik AS logo Thin data Oct 31, 2026

Can2 Termik AS

CANTE · IS
Very expensive, weak quality

Our calculation puts a fair price 38% below what the stock costs today.

Low debt
Expensive Growth (revenue 5y +52.8 %/yr in TRY)
Revenue last quarter 11% below a year ago.
Fair value 0.5600 TRY · Strongly overvalued (−37.8%)
Quality 29/100
Loss-making · -32.4% net margin (TTM)
Negative free cash flow
Trails peers (4/11)
Narrow moat 14/100
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

7.71 TRY 0.4679 TRY Fair Value 0.5600 TRY Jul 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Oct 31, 2026.

How to read this chart

60‑month range 0.4679 TRY – 7.71 TRY · fair‑value band 0.4800 TRY – 0.6500 TRY · the 0.9000 TRY price screens above the 0.5600 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 31, 2026.

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Company profile

Çan2 Termik A.S., together with its subsidiaries, engages in the generation and sale of electricity in Turkey and Venezuela.

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The company operates a thermal power plant with an installed capacity of 340 MWm/330 MWe. It is also involved in the establishment, commissioning, and renting of coal-based electric energy production facility; purchase, sale, manufacturing, assembly, and import of natural stone and mineral ores in finished and semi-finished forms; oil extraction services; and investment activities.

The company was founded in 2003 and is headquartered in Istanbul, Turkey.

Stock analysis

Can2 Termik AS (CANTE) currently trades at 0.9000 TRY, while our model-based Fair Value estimate is 0.5600 TRY, 37.8% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of 1.26 TRY per share, and 1 of the 3 models we run sit above the 0.9000 TRY price.

Bear case: the Asset-Based group reads lowest at 0.1600 TRY, and 2 of the 3 models stay below the price. Data coverage for this calculation is low.

Scenario range: 0.4800 TRY (bear) to 0.6500 TRY (bull), the price of 0.9000 TRY sits above 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 Utilities sector.

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

Can2 Termik AS reported revenue of 6.2B TRY in FY2025 versus 1.2B TRY in FY2021, a compound +50.7%/yr. Reported net income was −1.7B TRY in FY2025.

Key figures

Market cap 9.1B TRY (≈ $182M) Micro · P/S ratio 1.48 · EPS (TTM) −0.3200 TRY · Net margin −32.4% · Return on equity −6.6% · Return on assets (EBIT) 7.3% · Operating margin −17.6% · Revenue (TTM) 6.6B TRY.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 14 out of 100 (medium confidence).

What moves the price

The share trades about 61% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Utilities peers we cover trades at −21% fair-value upside, at −38%, CANTE screens richer than that median.

Fair Value models

Bear 0.4800 TRY Fair Value 0.5600 TRY Bull 0.6500 TRY
Price 0.9000 TRY · Downside -37.8%
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. 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
Owner Earnings 0.4800 TRY 0.5600 TRY 0.6500 TRY 78
EV/EBITDA 0.9400 TRY 1.26 TRY 1.57 TRY 67
NCAV (Graham) 0.1100 TRY 0.1600 TRY 0.2000 TRY 55
All 3 models by family
DCF Models
Owner Earnings 0.4800 TRY 0.5600 TRY 0.6500 TRY 78
Multiples
EV/EBITDA 0.9400 TRY 1.26 TRY 1.57 TRY 67
Asset-Based
NCAV (Graham) 0.1100 TRY 0.1600 TRY 0.2000 TRY 55

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 1
How much profit the company makes from its sales and capital
Quality Growth 35
Are margins and returns getting better?
Cashflow 12
Do the profits arrive as real cash?
Financial strength 76
Debt, balance sheet and risk of trouble
Investment 33
Does it invest with discipline instead of growing at any price?
Low Volatility 65
How calm the share price moves, does not count
Price momentum 4
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 0
Distance to the 52-week high, does not count
New shares 40
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. 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−22.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+52.8%
Start year 2020 (pandemic)
Revenue growth 7 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+59.5%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
11.1% (2019) → −12.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

CANTE screens overvalued: fair value 38% below the price. Compare with Constellation Energy Corporation →

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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.Utilities - Independent Power Producers · 74 stocks

Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 29 · Bottom 25%
Fair Value upside −37.8% · Below median
Profitability
Return on assets −5.5% · Bottom 25%
Net margin (12 months) −32.4% · Bottom 25%
Operating margin (12 months) −17.6% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −10.6% · Below median

Valuation Multiplesvs Utilities - Independent Power Producers median · lower = cheaper

P/B 0.33× · Cheapest 25%
P/S (12 months) 1.38× · Cheaper than median
EV/EBITDA 6.2× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 19
FUTURE (revenue growth)0 · sector 12
PAST (return on equity)0 · sector 31
HEALTH (low debt)100 · sector 71
DIVIDEND (yield)0 · sector 60

VALUE 0: the price sits above our fair-value range.

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 Utilities - Independent Power Producers stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Sichuan Chuantou Energy Co. 600674 ¥17.60 ¥24.10 +37% vs CANTE
Huaneng Power International, Inc 600011 ¥7.40 ¥9.10 +23% vs CANTE
Gulf Development Public Company GULF 60.75 THB 67.10 THB +10% vs CANTE
Datang International Power Generation Co 601991 ¥4.62 ¥3.65 −21% vs CANTE
NRG Energy, Inc NRG $94.62 $74.44 −21% vs CANTE
CGN Power Co 003816 ¥4.76 ¥2.18 −54% vs CANTE
Adani Power Limited ADANIPOWER ₹195.35 ₹75.57 −61% vs CANTE
Constellation Energy Corporation CEG $257.25 $78.55 −69% vs CANTE
Adani Energy Solutions Limited ADANIENSOL ₹1,378 ₹335.95 −76% vs CANTE
Vistra Corp VST $134.61 $20.68 −85% vs CANTE

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Can2 Termik AS: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Can2 Termik AS Fair Value". https://www.fairvalue-calculator.com/stock/CANTE

Frequently asked questions

Is Can2 Termik AS (CANTE) overvalued or undervalued?
As of Oct 31, 2026, our model estimates a fair value of 0.5600 TRY versus a price of 0.9000 TRY, about 38% lower (overvalued).
What is the fair value of CANTE?
Our model-based fair value for Can2 Termik AS is 0.5600 TRY (as of Oct 31, 2026), built from audited fundamentals. The current price: 0.9000 TRY.
What is the quality score of CANTE?
Can2 Termik AS 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 Can2 Termik AS (CANTE)?
Our model-based price target is the fair value of 0.5600 TRY (as of Oct 31, 2026) from 3 valuation models. Cautious scenario 0.4800 TRY, optimistic scenario 0.6500 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Can2 Termik AS stock forecast for 2026?
Our models put fair value at 0.5600 TRY, about 38% lower versus a price of 0.9000 TRY (overvalued). Cautious scenario 0.4800 TRY, optimistic scenario 0.6500 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Can2 Termik AS (CANTE)?
Can2 Termik AS reported trailing-twelve-month revenue of about 6.6B TRY (latest available figure, as of Oct 31, 2026).
What is the intrinsic value of Can2 Termik AS (CANTE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Can2 Termik AS it is 0.5600 TRY per share (as of Oct 31, 2026), against a price of 0.9000 TRY. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Can2 Termik AS stock overvalued or undervalued in 2026?
As of Oct 31, 2026, CANTE trades above its calculated fair value: price 0.9000 TRY, fair value 0.5600 TRY, a gap of about −38% (overvalued). 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 CANTE?
No. The price is what the market pays today (0.9000 TRY); the fair value is what the company's own numbers justify (0.5600 TRY). For Can2 Termik AS the two are 0.3400 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Can2 Termik AS worth?
The market values Can2 Termik AS at about 9.1B TRY (market capitalisation, as of Oct 31, 2026). Per share that is 0.9000 TRY; our models calculate a fair value of 0.5600 TRY per share.
What do the bullish and bearish scenarios say about CANTE?
Our models span a range for Can2 Termik AS: cautious scenario 0.4800 TRY, base 0.5600 TRY, optimistic 0.6500 TRY per share (as of Oct 31, 2026, price 0.9000 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Can2 Termik AS (CANTE)?
Balance-sheet figures for Can2 Termik AS (as of Oct 31, 2026): return on equity −6.6%. They feed the Quality Score of 29/100, which measures business quality independently of the share price.
How far is CANTE from its 52-week high?
Can2 Termik AS trades at 0.9000 TRY, about 61% below its 52-week high of 2.28 TRY and at the low of 0.9000 TRY (as of Nov 2, 2026). Distance from the high says nothing about value: that is what the fair value of 0.5600 TRY is for.
Which stocks are comparable to Can2 Termik AS?
From the same area (Utilities) we also value Constellation Energy Corporation, Vistra Corp, Adani Power Limited, CGN Power Co, 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 Can2 Termik AS stock attractive at the current price?
The data as of Oct 31, 2026: price 0.9000 TRY, calculated fair value 0.5600 TRY (−38%), Quality Score 29/100, from 3 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 CANTE calculated?
We run Can2 Termik AS through 3 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 0.5600 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 15.2 % above its aggregate fair value. Can2 Termik AS itself currently trades above fair value. 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 Can2 Termik AS (CANTE)?
The closing price on Nov 2, 2026 was 0.9000 TRY. Our model-based fair value is 0.5600 TRY, about 38% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Can2 Termik AS right now?
The price sits above even our optimistic bull case (0.6500 TRY). The favourable scenario is already priced in. Weak quality (29/100) 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.

Key figures of Can2 Termik AS

How large is the market capitalisation of Can2 Termik AS (CANTE)?
The market capitalisation of Can2 Termik AS is 9.1B TRY (≈ $182M). 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 Can2 Termik AS (CANTE)?
The price-to-sales ratio of Can2 Termik AS is 1.48 (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 Can2 Termik AS (CANTE)?
Earnings per share at Can2 Termik AS are −0.3200 TRY. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Can2 Termik AS (CANTE)?
The net margin of Can2 Termik AS is −32.4% (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 Can2 Termik AS (CANTE)?
The return on equity (ROE) of Can2 Termik AS is −6.6% (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 Can2 Termik AS (CANTE)?
On an EBIT basis the return on assets of Can2 Termik AS is 7.3% (avg 5y). 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 Can2 Termik AS (CANTE)?
The operating margin of Can2 Termik AS is −17.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Can2 Termik AS (CANTE)?
Revenue at Can2 Termik AS is growing −10.6% versus a year earlier (3y avg +2.0%). 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 Can2 Termik AS (CANTE)?
Earnings per share at Can2 Termik AS are growing −4.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Can2 Termik AS (CANTE) generate?
The free cash flow of Can2 Termik AS is −1.8B 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 Can2 Termik AS (CANTE) carry?
The net debt of Can2 Termik AS is 115M 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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