Esenboga Elektrik Uretim AS (ESEN) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Esenboga Elektrik Uretim AS stock TRY 2.33, price TRY 2.10, upside +11.0%, quality 31 out of 100. Rating: fairly valued. Calculated from audited financials with 9 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range 0.9431 TRY – 20.30 TRY · fair‑value band 1.77 TRY – 3.03 TRY · the 2.10 TRY price screens below the 2.33 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Esenboga Elektrik Üretim A.S. engages in the establishment, commissioning, production, and sale of electricity in Turkey. The company owns solar power plants; and is involved in solar power plant contracting business.
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It also provides operation and maintenance solutions; and project development and turnkey engineering, procurement and installation for solar energy projects. Esenboga Elektrik Üretim A.S. was incorporated in 2015 and is headquartered in Ankara, Turkey.
Esenboga Elektrik Üretim A.S. is a subsidiary of Naturel Yenilenebilir Enerji Ticaret A.S.
Stock analysis
Esenboga Elektrik Uretim AS (ESEN) currently trades at 2.10 TRY, while our model-based Fair Value estimate is 2.33 TRY, so the stock looks roughly fairly valued today (gap 9.9%).
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Valuation
Bull case: the Asset-Based group reads highest at a median of 3.66 TRY per share, and 5 of the 9 models we run sit above the 2.10 TRY price.
Bear case: the Multiples group reads lowest at 0.3900 TRY, and 4 of the 9 models stay below the price. Data coverage for this calculation is low.
Scenario range: 1.77 TRY (bear) to 3.03 TRY (bull), the price of 2.10 TRY sits inside 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 31/100 (below-average quality), in the Utilities sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Esenboga Elektrik Uretim AS reported revenue of 1.5B TRY in FY2025 versus 555M TRY in FY2021, a compound +28.0%/yr. Reported net income was −1.2B TRY in FY2025.
Key figures
Market cap 3.8B TRY (≈ $76.2M) Micro · P/S ratio 2.52 · EPS (TTM) −0.3800 TRY · Net margin −57.1% · Return on equity −4.1% · Return on assets (EBIT) 1.4% (5-year average) · Operating margin −2.9% · Revenue (TTM) 1.4B TRY.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 17 out of 100 (medium confidence).
What moves the price
The share trades about 74% below its 52-week high and 17% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −52% fair-value upside, at 11%, ESEN screens cheaper than that median.
Fair Value models
Bear1.77 TRYFair Value 2.33 TRYBull3.03 TRY
Price 2.10 TRY · Upside +11.0%
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.
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.67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+0.3%
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.
+15.6%
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.
+59.6%
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.
+112.7%
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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.
8.4% (2019) → 3.9% (2024)
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
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+10.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Turkey: IMF forecast 19.3% a year to 2030, 28.5% from 2016 to 2025) that is about −7.4% a year for the price.
Compare Esenboga Elektrik Uretim 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.Utilities - Renewable · 196 stocks
Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score31 · Bottom 25%
Fair Value upside+11.0% · Above median
Profitability
Return on assets−5.5% · Bottom 25%
Net margin (12 months)−57.1% · Bottom 25%
Operating margin (12 months)−2.9% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−13.0% · Bottom 25%
Balance sheet
Debt / equity0.20× · Below median
Valuation Multiplesvs Utilities - Renewable median · lower = cheaper
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). "Esenboga Elektrik Uretim AS Fair Value". https://www.fairvalue-calculator.com/stock/ESEN
Frequently asked questions
Is Esenboga Elektrik Uretim AS (ESEN) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 2.33 TRY versus a price of 2.10 TRY, about +11% upside (fairly valued).
What is the fair value of ESEN?
Our model-based fair value for Esenboga Elektrik Uretim AS is 2.33 TRY (as of Nov 7, 2026), built from audited fundamentals. The current price: 2.10 TRY.
What is the quality score of ESEN?
Esenboga Elektrik Uretim AS has a Quality Score of 31/100. 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 Esenboga Elektrik Uretim AS (ESEN)?
Our model-based price target is the fair value of 2.33 TRY (as of Nov 7, 2026) from 9 valuation models. Cautious scenario 1.77 TRY, optimistic scenario 3.03 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Esenboga Elektrik Uretim AS stock forecast for 2026?
Our models put fair value at 2.33 TRY, about +11% upside versus a price of 2.10 TRY (fairly valued). Cautious scenario 1.77 TRY, optimistic scenario 3.03 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Esenboga Elektrik Uretim AS (ESEN)?
Esenboga Elektrik Uretim AS reported trailing-twelve-month revenue of about 1.4B TRY (latest available figure, as of Nov 7, 2026).
What growth is priced into Esenboga Elektrik Uretim AS (ESEN)?
For today's price to be fair in a discounted-cash-flow model, Esenboga Elektrik Uretim AS would have to grow free cash flow by +10.5 % per year for five years (discount rate 15.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +59.6 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of ESEN use?
Our models discount Esenboga Elektrik Uretim AS at 15.7 %: a base by market capitalisation (micro), damped by beta 0.39, country premium for Turkey. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Esenboga Elektrik Uretim AS that is +10.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (15.7 %) and the same formula as our fair value.
How much growth has Esenboga Elektrik Uretim AS (ESEN) delivered so far?
Over the past 5 years revenue at Esenboga Elektrik Uretim AS grew +59.6 % a year. The price currently implies free-cash-flow growth of +10.5 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Esenboga Elektrik Uretim AS (ESEN) growing?
The median revenue growth in the sector is +4.3 % a year. That is the yardstick for the growth priced into Esenboga Elektrik Uretim AS (+10.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Esenboga Elektrik Uretim AS (ESEN)?
The free-cash-flow yield on the price is 18.16 %: that much free cash flow Esenboga Elektrik Uretim AS produces per unit of market value. When it exceeds the discount rate of our models (15.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Esenboga Elektrik Uretim AS (ESEN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Esenboga Elektrik Uretim AS it is 2.33 TRY per share (as of Nov 7, 2026), against a price of 2.10 TRY. It is the blended result of 9 valuation models in 4 families (DCF Models, Multiples, Asset-Based, Growth DCF).
Is Esenboga Elektrik Uretim AS stock overvalued or undervalued in 2026?
As of Nov 7, 2026, ESEN trades below its calculated fair value: price 2.10 TRY, fair value 2.33 TRY, a gap of about +11% (fairly valued). 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 ESEN?
No. The price is what the market pays today (2.10 TRY); the fair value is what the company's own numbers justify (2.33 TRY). For Esenboga Elektrik Uretim AS the two are 0.2300 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Esenboga Elektrik Uretim AS worth?
The market values Esenboga Elektrik Uretim AS at about 3.8B TRY (market capitalisation, as of Nov 7, 2026). Per share that is 2.10 TRY; our models calculate a fair value of 2.33 TRY per share.
What do the bullish and bearish scenarios say about ESEN?
Our models span a range for Esenboga Elektrik Uretim AS: cautious scenario 1.77 TRY, base 2.33 TRY, optimistic 3.03 TRY per share (as of Nov 7, 2026, price 2.10 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Esenboga Elektrik Uretim AS (ESEN)?
Balance-sheet figures for Esenboga Elektrik Uretim AS (as of Nov 7, 2026): return on equity −4.1%, debt of 0.20 per unit of equity. They feed the Quality Score of 31/100, which measures business quality independently of the share price.
How far is ESEN from its 52-week high?
Esenboga Elektrik Uretim AS trades at 2.10 TRY, about 74% below its 52-week high of 8.08 TRY and 17% above the low of 1.79 TRY (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 2.33 TRY is for.
Which stocks are comparable to Esenboga Elektrik Uretim AS?
From the same area (Utilities) we also value China Yangtze Power Co, Huaneng Lancang River Hydropower Inc, Ørsted A/S, VERBUND AG, 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 Esenboga Elektrik Uretim AS stock attractive at the current price?
The data as of Nov 7, 2026: price 2.10 TRY, calculated fair value 2.33 TRY (+11%), Quality Score 31/100, from 9 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 ESEN calculated?
We run Esenboga Elektrik Uretim AS through 9 models from 4 families: DCF Models, Multiples, Asset-Based, Growth DCF. Every model gets the same audited fundamentals; the fair value of 2.33 TRY builds on their evidence-weighted average, 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 12.7% above its aggregate fair value. Esenboga Elektrik Uretim AS currently trades 10% below its own fair value, and the market average says nothing about that. 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 Esenboga Elektrik Uretim AS (ESEN)?
The closing price on Nov 6, 2026 was 2.10 TRY. Our model-based fair value is 2.33 TRY, about +11% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Esenboga Elektrik Uretim AS right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Esenboga Elektrik Uretim AS
How large is the market capitalisation of Esenboga Elektrik Uretim AS (ESEN)?
The market capitalisation of Esenboga Elektrik Uretim AS is 3.8B TRY (≈ $76.2M). 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 Esenboga Elektrik Uretim AS (ESEN)?
The price-to-sales ratio of Esenboga Elektrik Uretim AS is 2.52 (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 Esenboga Elektrik Uretim AS (ESEN)?
Earnings per share at Esenboga Elektrik Uretim AS are −0.3800 TRY. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Esenboga Elektrik Uretim AS (ESEN)?
The net margin of Esenboga Elektrik Uretim AS is −57.1% (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 Esenboga Elektrik Uretim AS (ESEN)?
The return on equity (ROE) of Esenboga Elektrik Uretim AS is −4.1% (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 Esenboga Elektrik Uretim AS (ESEN)?
On an EBIT basis the return on assets of Esenboga Elektrik Uretim AS is 1.4% (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 Esenboga Elektrik Uretim AS (ESEN)?
The operating margin of Esenboga Elektrik Uretim AS is −2.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Esenboga Elektrik Uretim AS (ESEN)?
Revenue at Esenboga Elektrik Uretim AS is growing −13.0% versus a year earlier (3y avg +15.6%). 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 Esenboga Elektrik Uretim AS (ESEN)?
Earnings per share at Esenboga Elektrik Uretim AS are growing +203% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Esenboga Elektrik Uretim AS (ESEN) carry?
The net debt of Esenboga Elektrik Uretim AS is 4.0B TRY (fiscal year 2025, ≈ 5.7 yrs of FCF). 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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Nov 7, 2026