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Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN) Fair Value & Analysis

Utilities · TR · Market cap 97.1B TRY

ME Margün Enerji Üretim Sanayi ve Ticaret A.S. MAGEN · IS
Price32.04 TRY
Fair Value18.15 TRY
Upside-43.4%
Quality33/100
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Mixed Growth
Loss-making · -42.8% net margin
Low debt · generates free cash flow
Mixed vs. peers (5/12)
Narrow moat 8/100
Evidence: Medium Range 18.15 TRY – 38.69 TRY Share as image

Fair value as of: Aug 13, 2026

From 9 valuation models · updated today

Share price −6.6% over the past month.

Below-average quality, and screening another 43% overvalued on our models.

What matters now

  • Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (18.15 TRY to 38.69 TRY) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

68.25 TRY 1.14 TRY Fair Value 18.15 TRY Sep 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

58‑month range 1.14 TRY – 68.25 TRY · fair‑value band 18.15 TRY – 38.69 TRY · the 32.04 TRY price screens above the 18.15 TRY fair value. Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

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Analysis

Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN) currently trades at 32.04 TRY, while our model-based Fair Value estimate is 18.15 TRY, implying the stock looks roughly 43.4% overvalued today. The Quality Score stands at 33/100 (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, Margün Enerji Üretim Sanayi ve Ticaret A.S. generated revenue of 1.5B TRY at a net margin of -42.8%. Revenue grew 27.7% year over year. It earns a return on equity of -2.0%. Net debt stands at 4.0B TRY. Fundamentals as of Aug 13, 2026

Our scenario range runs from 18.15 TRY (bear case) to 38.69 TRY (bull case); at 32.04 TRY, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 53% below its 52-week high and 89% 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 -43%, MAGEN 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 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
Highest evidence
Growth DCF 48.76 TRY 104.75 TRY 196.73 TRY 80
Rev-Margin DCF 12.77 TRY 20.76 TRY 37.53 TRY 74
EV/EBITDA 11.54 TRY 18.15 TRY 24.76 TRY 54
All 9 models by family
DCF Models
FCF DCF 52.30 TRY 87.06 TRY 197.65 TRY 38
5Y Revenue Exit 11.23 TRY 17.07 TRY 28.61 TRY 39
5Y EBITDA Exit 23.23 TRY 41.53 TRY 77.06 TRY 41
10Y Revenue Exit 23.23 TRY 41.68 TRY 47.22 TRY 36
10Y EBITDA Exit 32.30 TRY 67.68 TRY 124.90 TRY 37
Multiples
EV/EBITDA 11.54 TRY 18.15 TRY 24.76 TRY 54
Asset-Based
NCAV (Graham) 33.69 TRY 45.22 TRY 67.37 TRY 50
Growth DCF
Growth DCF 48.76 TRY 104.75 TRY 196.73 TRY 80
Rev-Margin DCF 12.77 TRY 20.76 TRY 37.53 TRY 74

Widest divergence: Asset-Based (45.22 TRY) versus Multiples (18.15 TRY). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.5B TRY
Revenue growth (YoY) +27.7%
Net margin -42.8%
Return on equity -2.0%
Free cash flow 690M TRY FY2025
Operating margin -0.1%
More key figures
EPS (TTM) -0.2200 TRY
EPS growth (YoY) +216%
Net debt 4.0B TRY FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 33/100

Of which business quality 41 · Market factors (momentum, volatility) 48

Profitability 1
Margins and returns on capital today
Quality Growth 10
Are margins and returns improving?
Cashflow 96
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 24
Disciplined investing over empire-building
Low Volatility 55
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 65
Distance to the 52-week high (market factor)
Net Issuance 40
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

Margün Enerji Üretim Sanayi ve Ticaret A.S. engages in the generation of electricity from solar resources in Turkey and internationally. It also provides project development services; engineering, procurement, and construction services; and operating and maintenance services. The company operates a solar power plant with an installed capacity of 118.03 MWp.

Full company description

Margün Enerji Üretim Sanayi ve Ticaret A.S. engages in the generation of electricity from solar resources in Turkey and internationally. It also provides project development services; engineering, procurement, and construction services; and operating and maintenance services. The company operates a solar power plant with an installed capacity of 118.03 MWp. In addition, it develops software and climate technologies. The company was incorporated in 2014 and is headquartered in Ankara, Turkey. Margün Enerji Üretim Sanayi ve Ticaret Anonim Sirketi is a subsidiary of Esenboga Elektrik Üretim A.S.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Margün Enerji Üretim Sanayi ve Ticaret A.S. reported revenue of 1.4B TRY in FY2025 versus 509M TRY in FY2021, a compound +28.2%/yr. Reported net income was −1.6B TRY in FY2025.

Growth Quality 61/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
1.4B TRY
Latest YoY
−7.4%
Avg. growth/yr (3Y) 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.
+28.1%
Avg. growth/yr (5Y) 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.
+72.8%
Avg. growth/yr (7Y) 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.
+92.4%
Revenue +28.2%/yr
FY21 509M TRY
FY22 654M TRY
FY23 1.1B TRY
FY24 1.5B TRY
FY25 1.4B TRY
Net income
FY21 1.0B TRY
FY22 634M TRY
FY23 449M TRY
FY24 −369M TRY
FY25 −1.6B TRY

MAGEN screens 43% overvalued. Compare with China Yangtze Power Co →

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Cite: Fair Value Calculator (2026). "Margün Enerji Üretim Sanayi ve Ticaret A.S. Fair Value". https://www.fairvalue-calculator.com/stock/MAGEN

Peer Group

Utilities - Renewable · 223 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 33 · Below median
Fair Value upside −43% · Below median
Return on assets 0% · Below median
Net margin (TTM) -43% · Bottom 25%
Operating margin (TTM) -0% · Bottom 25%
Revenue growth 28% · Top 25%
Debt / equity 0.16× · Lower than median

Valuation Multiples vs Utilities - Renewable median · lower = cheaper

P/B 0.16× · Cheaper than 75% of peers
P/S (TTM) 1.40× · Cheaper than median
P/FCF 3.0× · Pricier than median
EV/EBITDA 7.5× · Cheaper than median

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 10
FUTURE 100 · sector 0
PAST 0 · sector 12
HEALTH 92 · sector 68
DIVIDEND 0 · sector 50

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 13, 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 Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 18.15 TRY versus a price of 32.04 TRY, about −43% (overvalued).
What is the fair value of MAGEN?
Our model-based fair value for Margün Enerji Üretim Sanayi ve Ticaret A.S. is 18.15 TRY (as of Aug 13, 2026), built from audited fundamentals. The current price is 32.04 TRY.
What is the quality score of MAGEN?
Margün Enerji Üretim Sanayi ve Ticaret A.S. has a Quality Score of 33/100. 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 revenue of Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN)?
Margün Enerji Üretim Sanayi ve Ticaret A.S. reported trailing-twelve-month revenue of about 1.5B TRY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of MAGEN?
The net profit margin of Margün Enerji Üretim Sanayi ve Ticaret A.S. is about -42.8%, 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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