Esenboga Elektrik Uretim AS (ESEN) fair value: what the stock is really worth
As of Sep 22, 2026: fair value of Esenboga Elektrik Uretim AS TRY 3.50, price TRY 2.89, upside +21.1%, quality 31 out of 100. Calculated from audited financials with 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, dashed = 300-day average. As of Sep 13, 2026.
How to read this chart
60‑month range 0.9431 TRY – 20.30 TRY · fair‑value band 3.31 TRY – 6.48 TRY · the 2.89 TRY price screens below the 3.50 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 13, 2026.
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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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. 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 2.89 TRY, while our model-based Fair Value estimate is 3.50 TRY, implying the stock looks roughly 17.4% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 4.05 TRY per share, and 6 of the 9 models we run sit above the 2.89 TRY price.
Bear case: the Multiples group reads lowest at 1.70 TRY, and 3 of the 9 models stay below the price. Evidence for this calculation is low.
Scenario range: 3.31 TRY (bear) to 6.48 TRY (bull), the price of 2.89 TRY sits below 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 6.1B TRY (≈ $125M) · P/S ratio 4.27 · EPS (TTM) −0.1900 TRY · Net margin −77.6% · Return on equity −2.7% · Return on assets (EBIT) 1.4% · Operating margin −1.9% · Revenue (TTM) 1.4B TRY.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (medium confidence).
What moves the price
For context, the median of 10 Utilities peers we cover trades at −11% fair-value upside, at 21%, ESEN screens cheaper than that median.
Fair Value models
Bear 3.31 TRYFair Value 3.50 TRYBull 6.48 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.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.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%
’18
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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.
44.5% (2020) → 2.1% (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
Compare Esenboga Elektrik Uretim AS with another stock
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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 · 207 stocks
Beats the industry median on 4/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score31 · Bottom 25%
Fair Value upside−89% · Bottom 25%
Profitability
Return on assets1% · Below median
Net margin (TTM)−17% · Bottom 25%
Operating margin (TTM)−2% · Bottom 25%
Growth and dividend
Revenue growth−15% · Bottom 25%
Balance sheet
Debt / equity0.20× · Below median
Valuation Multiplesvs Utilities - Renewable median · lower = cheaper
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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 Sep 13, 2026, our model estimates a fair value of 3.50 TRY versus a price of 2.89 TRY, about +21% upside (undervalued).
What is the fair value of ESEN?
Our model-based fair value for Esenboga Elektrik Uretim AS is 3.50 TRY (as of Sep 13, 2026), built from audited fundamentals. The current price: 2.89 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 3.50 TRY (as of Sep 13, 2026) from 9 valuation models. Cautious scenario 3.31 TRY, optimistic scenario 6.48 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 3.50 TRY, about +21% upside versus a price of 2.89 TRY (undervalued). Cautious scenario 3.31 TRY, optimistic scenario 6.48 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 Sep 13, 2026).
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 3.50 TRY per share (as of Sep 13, 2026), against a price of 2.89 TRY. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Esenboga Elektrik Uretim AS stock overvalued or undervalued in 2026?
As of Sep 13, 2026, ESEN trades below its calculated fair value: price 2.89 TRY, fair value 3.50 TRY, a gap of about +21% (undervalued). 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 (2.89 TRY); the fair value is what the company's own numbers justify (3.50 TRY). For Esenboga Elektrik Uretim AS the two are 0.6100 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 6.1B TRY (market capitalisation, as of Sep 13, 2026). Per share that is 2.89 TRY; our models calculate a fair value of 3.50 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 3.31 TRY, base 3.50 TRY, optimistic 6.48 TRY per share (as of Sep 13, 2026, price 2.89 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 Sep 13, 2026): return on equity −2.7%, 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.
Which stocks are comparable to Esenboga Elektrik Uretim AS?
From the same area (Utilities) we also value China Yangtze Power Co, Ørsted A/S, Huaneng Lancang River Hydropower Inc, Adani Green Energy 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 Esenboga Elektrik Uretim AS stock attractive at the current price?
The data as of Sep 13, 2026: price 2.89 TRY, calculated fair value 3.50 TRY (+21%), 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 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 3.50 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 16.0 % above its aggregate fair value. Esenboga Elektrik Uretim AS currently trades 21 % 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 Sep 22, 2026 was 2.89 TRY. Our model-based fair value is 3.50 TRY, about +21% upside (undervalued). 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 is below even our cautious bear case (3.31 TRY). The market is more pessimistic than our downside scenario. A fairly wide model range (3.31 TRY to 6.48 TRY) leaves room in how you read the outcome. 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 6.1B TRY (≈ $125M). 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 4.27 (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 −0.1900 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 −77.6% (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 Esenboga Elektrik Uretim AS (ESEN)?
The return on equity (ROE) of Esenboga Elektrik Uretim AS is −2.7% (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 −1.9% (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 −15.0% 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 free cash flow does Esenboga Elektrik Uretim AS (ESEN) generate?
The free cash flow of Esenboga Elektrik Uretim AS is 694M 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 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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