ENKA Insaat ve Sanayi AS (ENKAI) fair value: what the stock is really worth
We calculate from audited financials what ENKA Insaat ve Sanayi AS is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Enka Insaat ve Sanayi A.S., together with its subsidiaries, engages in construction activities. The company operates through four segments: Construction; Real Estate Leasing; Energy; and Trading.
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Enka Insaat ve Sanayi A.S., together with its subsidiaries, engages in construction activities. The company operates through four segments: Construction; Real Estate Leasing; Energy; and Trading. It is involved in thermal power plants and industrial construction projects that produce natural gas-fired electrical energy, and highway construction; trading activities; and investment and development of real estate properties, as well as construction and operation of shopping centers; and marketing and after-sales service of construction machinery, trucks, industrial products, and spare parts. The company also engages in manufacturing structural steel works and equipment installation; excavation activities, sliding formwork, drilling and soil investigations, and isolation works; and pile dwelling work, base and superstructure construction, organizing domestic and international congresses and seminars, and tour reservation and ticket sales. In addition, it is involved in material handling and storage systems, auxiliary facilities, water treatment and environmental engineering, infrastructure and construction, and control systems and instrumentation engineering business; ready-mixed concrete production; air transportation; production and selling of electricity; and rental activities. It operates in Turkey, Georgia, Turkmenistan, Kazakhstan, Kenya, Libya, Saudi Arabia, Sri Lanka, India, Iraq, Mongolia, Mexico, Brazil, Argentina, the Bahamas, the Puerto Rico, Netherlands, Switzerland, Greece, Germany, Serbia, Kosovo, the United Kingdom, Italy, North Macedonia, Bulgaria, and Europe. The company was founded in 1957 and is headquartered in Istanbul, Turkey.
Stock analysis
ENKA Insaat ve Sanayi AS (ENKAI) currently trades at 85.35 TRY, while our model-based Fair Value estimate is 20.96 TRY, implying the stock looks roughly 307.2% overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 42.65 TRY per share, and 0 of the 24 models we run sit above the 85.35 TRY price.
Bear case: the Earnings-Based group reads lowest at 2.75 TRY, and 24 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: 19.82 TRY (bear) to 22.84 TRY (bull), the price of 85.35 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 53/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
ENKA Insaat ve Sanayi AS reported revenue of $3.6B in FY2025 versus $25.8B in FY2021, a compound −38.7%/yr. Reported net income was $842M in FY2025, compounding −36.4%/yr from FY2021.
Key figures
Market cap 500B TRY (≈ $10.3B) · P/E ratio 13.4 · P/S ratio 3.11 · EPS (TTM) 6.35 TRY · Net margin 23.1% · Return on equity 11.0% · Return on assets (EBIT) 3.4% · Operating margin 18.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 25% below its 52-week high and 36% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −30% fair-value upside, at −75%, ENKAI screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (1.24 TRY to 42.65 TRY). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear 19.82 TRYFair Value 20.96 TRYBull 22.84 TRY
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (4.61 TRY per share) are deliberately not added.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.Evidence ⓘEvidence = 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.
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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+28.1%
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.
−61.1%
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.
−20.7%
Revenue growth 25 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.
−25.1%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−29.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−29.3%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘ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.19% → 18%
Compare ENKA Insaat ve Sanayi AS with another stock
Price, fair value, quality and upside side by side.
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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.Engineering & Construction · 814 stocks
Beats the industry median on 7/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score53 · Above median
Profitability
Return on equity (TTM)11% · Above median
Return on assets4% · Above median
Net margin (TTM)22% · Top 25%
Operating margin (TTM)18% · Top 25%
Growth and dividend
Revenue growth20% · Above median
Dividend yield (TTM)0.0% · Bottom 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/E (TTM)13.4× · Cheaper than median
P/FCF25.5× · Priciest 25%
PEG2.46× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 20
FUTURE (revenue growth)100· sector 14
PAST (return on equity)44· sector 26
HEALTH (low debt)100· sector 94
DIVIDEND (yield)0· sector 39
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "ENKA Insaat ve Sanayi AS Fair Value". https://www.fairvalue-calculator.com/stock/ENKAI
Frequently asked questions
Is ENKA Insaat ve Sanayi AS (ENKAI) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of 20.96 TRY versus a price of 85.35 TRY, about −75% upside (overvalued).
What is the fair value of ENKAI?
Our model-based fair value for ENKA Insaat ve Sanayi AS is 20.96 TRY (as of Sep 13, 2026), built from audited fundamentals. The current price: 85.35 TRY.
What is the quality score of ENKAI?
ENKA Insaat ve Sanayi AS has a Quality Score of 53/100. 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 ENKA Insaat ve Sanayi AS (ENKAI)?
Our model-based price target is the fair value of 20.96 TRY (as of Sep 13, 2026) from 24 valuation models. Cautious scenario 19.82 TRY, optimistic scenario 22.84 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the ENKA Insaat ve Sanayi AS stock forecast for 2026?
Our models put fair value at 20.96 TRY, about −75% upside versus a price of 85.35 TRY (overvalued). Cautious scenario 19.82 TRY, optimistic scenario 22.84 TRY. The calculation is refreshed regularly with new filings.
What is the intrinsic value of ENKA Insaat ve Sanayi AS (ENKAI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ENKA Insaat ve Sanayi AS it is 20.96 TRY per share (as of Sep 13, 2026), against a price of 85.35 TRY. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is ENKA Insaat ve Sanayi AS stock overvalued or undervalued in 2026?
As of Sep 13, 2026, ENKAI trades above its calculated fair value: price 85.35 TRY, fair value 20.96 TRY, a gap of about −75% (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 ENKAI?
No. The price is what the market pays today (85.35 TRY); the fair value is what the company's own numbers justify (20.96 TRY). For ENKA Insaat ve Sanayi AS the two are 64.39 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is ENKA Insaat ve Sanayi AS worth?
The market values ENKA Insaat ve Sanayi AS at about 500B TRY (market capitalisation, as of Sep 13, 2026). Per share that is 85.35 TRY; our models calculate a fair value of 20.96 TRY per share.
What do the bullish and bearish scenarios say about ENKAI?
Our models span a range for ENKA Insaat ve Sanayi AS: cautious scenario 19.82 TRY, base 20.96 TRY, optimistic 22.84 TRY per share (as of Sep 13, 2026, price 85.35 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ENKAI?
ENKA Insaat ve Sanayi AS trades at a price-to-earnings ratio of 13.4 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 20.96 TRY is built from several models across several years. Other multiples: PEG 2.5.
What is the PEG ratio of ENKAI?
The PEG ratio of ENKA Insaat ve Sanayi AS is 2.46 (P/E divided by earnings growth, as of Sep 13, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of ENKA Insaat ve Sanayi AS (ENKAI)?
Balance-sheet figures for ENKA Insaat ve Sanayi AS (as of Sep 13, 2026): return on equity 11.0%. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is ENKAI from its 52-week high?
ENKA Insaat ve Sanayi AS trades at 85.35 TRY, about 25% below its 52-week high of 114.30 TRY and 36% above the low of 62.65 TRY (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of 20.96 TRY is for.
Which stocks are comparable to ENKA Insaat ve Sanayi AS?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, 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 ENKA Insaat ve Sanayi AS stock attractive at the current price?
The data as of Sep 13, 2026: price 85.35 TRY, calculated fair value 20.96 TRY (−75%), Quality Score 53/100, from 24 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 ENKAI calculated?
We run ENKA Insaat ve Sanayi AS through 24 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 20.96 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 16.1 % above its aggregate fair value. ENKA Insaat ve Sanayi 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 ENKA Insaat ve Sanayi AS (ENKAI)?
The closing price on Sep 18, 2026 was 85.35 TRY. Our model-based fair value is 20.96 TRY, about −75% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ENKA Insaat ve Sanayi AS right now?
The price sits above even our optimistic bull case (22.84 TRY). The favourable scenario is already priced in. Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of ENKA Insaat ve Sanayi AS
How large is the market capitalisation of ENKA Insaat ve Sanayi AS (ENKAI)?
The market capitalisation of ENKA Insaat ve Sanayi AS is 500B TRY (≈ $10.3B). 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 ENKA Insaat ve Sanayi AS (ENKAI)?
The price-to-sales ratio of ENKA Insaat ve Sanayi AS is 3.11 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of ENKA Insaat ve Sanayi AS (ENKAI)?
Earnings per share at ENKA Insaat ve Sanayi AS are 6.35 TRY (price ÷ EPS = P/E 13.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of ENKA Insaat ve Sanayi AS (ENKAI)?
The net margin of ENKA Insaat ve Sanayi AS is 23.1% (fiscal year 2025). 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 ENKA Insaat ve Sanayi AS (ENKAI)?
The return on equity (ROE) of ENKA Insaat ve Sanayi AS is 11.0% (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 ENKA Insaat ve Sanayi AS (ENKAI)?
On an EBIT basis the return on assets of ENKA Insaat ve Sanayi AS is 3.4% (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 ENKA Insaat ve Sanayi AS (ENKAI)?
The operating margin of ENKA Insaat ve Sanayi AS is 18.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ENKA Insaat ve Sanayi AS (ENKAI)?
Revenue at ENKA Insaat ve Sanayi AS is growing +20.0% versus a year earlier (3y avg −61.1%). 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 ENKA Insaat ve Sanayi AS (ENKAI)?
Earnings per share at ENKA Insaat ve Sanayi AS are growing −11.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does ENKA Insaat ve Sanayi AS (ENKAI) generate?
The free cash flow of ENKA Insaat ve Sanayi AS is $411M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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Sep 13, 2026