Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN) fair value: what the stock is really worth
As of Nov 10, 2026: fair value (intrinsic value) of Margün Enerji Üretim Sanayi ve Ticaret A.S. stock TRY 3.49, price TRY 5.63, that is 38.0% below the price, quality 32 out of 100. Rating: strongly overvalued. Calculated from audited financials with 9 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 11, 2026.
How to read this chart
60‑month range 1.14 TRY – 68.25 TRY · fair‑value band 3.45 TRY – 5.03 TRY · the 5.63 TRY price screens above the 3.49 TRY fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 11, 2026.
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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.
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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.
Stock analysis
Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN) currently trades at 5.63 TRY, while our model-based Fair Value estimate is 3.49 TRY, 38% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 3.49 TRY per share, and 0 of the 9 models we run sit above the 5.63 TRY price.
Bear case: the Multiples group reads lowest at 0.3800 TRY, and 9 of the 9 models stay below the price. Data coverage for this calculation is low.
Scenario range: 3.45 TRY (bear) to 5.03 TRY (bull), the price of 5.63 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 32/100 (below-average quality), in the Utilities sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
Key figures
Market cap 16.6B TRY (≈ $331M) Small · P/S ratio 10.9 · EPS (TTM) −0.3200 TRY · Net margin −74.8% · Return on equity −5.0% · Return on assets (EBIT) 1.5% (5-year average) · Operating margin 0.5% · Revenue (TTM) 1.4B TRY.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 19 out of 100 (medium confidence).
What moves the price
The share trades about 92% below its 52-week high and 36% above its 52-week low.
For context, the median of 10 Utilities peers we cover trades at −52% fair-value upside, at −38%, MAGEN screens cheaper than that median.
Fair Value models
Bear3.45 TRYFair Value 3.49 TRYBull5.03 TRY
Price 5.63 TRY · Downside -38.0%
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.61/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−7.4%
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.
+28.1%
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.
+72.8%
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.
+92.4%
’18
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’21
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’23
’24
’25
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.
9.1% (2019) → 6.1% (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).
+27.9%
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 +7.2% a year for the price.
Compare Margün Enerji Üretim Sanayi ve Ticaret A.S. 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 · 214 stocks
Beats the industry median on 2/11 measures
Overall it trails its industry peers.
Valuation
Quality Score32 · Bottom 25%
Fair Value upside−38.0% · Below median
Profitability
Return on assets−7.7% · Bottom 25%
Net margin (12 months)−74.8% · Bottom 25%
Operating margin (12 months)0.5% · Below median
Growth and dividend
Revenue growth (quarter YoY)−43.8% · Bottom 25%
Balance sheet
Debt / equity0.16× · Below median
Valuation Multiplesvs Utilities - Renewable median · lower = cheaper
P/B1.29× · Cheaper than median
P/S (12 months)11.87× · Priciest 25%
Price / free cash flow (fiscal year)24.1× · Pricier than median
EV/EBITDA35.9× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 16
FUTURE (revenue growth)0· sector 22
PAST (return on equity)0· sector 10
HEALTH (low debt)92· sector 70
DIVIDEND (yield)0· sector 49
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). "Margün Enerji Üretim Sanayi ve Ticaret A.S. Fair Value". https://www.fairvalue-calculator.com/stock/MAGEN
Frequently asked questions
Is Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN) overvalued or undervalued?
As of Nov 11, 2026, our model estimates a fair value of 3.49 TRY versus a price of 5.63 TRY, about 38% lower (overvalued).
What is the fair value of MAGEN?
Our model-based fair value for Margün Enerji Üretim Sanayi ve Ticaret A.S. is 3.49 TRY (as of Nov 11, 2026), built from audited fundamentals. The current price: 5.63 TRY.
What is the quality score of MAGEN?
Margün Enerji Üretim Sanayi ve Ticaret A.S. has a Quality Score of 32/100. 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 Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN)?
Our model-based price target is the fair value of 3.49 TRY (as of Nov 11, 2026) from 9 valuation models. Cautious scenario 3.45 TRY, optimistic scenario 5.03 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Margün Enerji Üretim Sanayi ve Ticaret A.S. stock forecast for 2026?
Our models put fair value at 3.49 TRY, about 38% lower versus a price of 5.63 TRY (overvalued). Cautious scenario 3.45 TRY, optimistic scenario 5.03 TRY. The calculation is refreshed regularly with new filings.
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 1.4B TRY (latest available figure, as of Nov 11, 2026).
What growth is priced into Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN)?
For today's price to be fair in a discounted-cash-flow model, Margün Enerji Üretim Sanayi ve Ticaret A.S. would have to grow free cash flow by +27.9 % per year for five years (discount rate 14.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +72.8 % per year. As of Nov 11, 2026.
What discount rate (WACC) does the fair value of MAGEN use?
Our models discount Margün Enerji Üretim Sanayi ve Ticaret A.S. at 14.2 %: a base by market capitalisation (small), damped by beta 0.38, 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 Margün Enerji Üretim Sanayi ve Ticaret A.S. that is +27.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (14.2 %) and the same formula as our fair value.
How much growth has Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN) delivered so far?
Over the past 5 years revenue at Margün Enerji Üretim Sanayi ve Ticaret A.S. grew +72.8 % a year. The price currently implies free-cash-flow growth of +27.9 % 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 Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN) growing?
The median revenue growth in the sector is +4.8 % a year. That is the yardstick for the growth priced into Margün Enerji Üretim Sanayi ve Ticaret A.S. (+27.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN)?
The free-cash-flow yield on the price is 4.16 %: that much free cash flow Margün Enerji Üretim Sanayi ve Ticaret A.S. produces per unit of market value. When it exceeds the discount rate of our models (14.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Margün Enerji Üretim Sanayi ve Ticaret A.S. it is 3.49 TRY per share (as of Nov 11, 2026), against a price of 5.63 TRY. It is the blended result of 9 valuation models in 4 families (DCF Models, Multiples, Asset-Based, Growth DCF).
Is Margün Enerji Üretim Sanayi ve Ticaret A.S. stock overvalued or undervalued in 2026?
As of Nov 11, 2026, MAGEN trades above its calculated fair value: price 5.63 TRY, fair value 3.49 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 MAGEN?
No. The price is what the market pays today (5.63 TRY); the fair value is what the company's own numbers justify (3.49 TRY). For Margün Enerji Üretim Sanayi ve Ticaret A.S. the two are 2.14 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Margün Enerji Üretim Sanayi ve Ticaret A.S. worth?
The market values Margün Enerji Üretim Sanayi ve Ticaret A.S. at about 16.6B TRY (market capitalisation, as of Nov 11, 2026). Per share that is 5.63 TRY; our models calculate a fair value of 3.49 TRY per share.
What do the bullish and bearish scenarios say about MAGEN?
Our models span a range for Margün Enerji Üretim Sanayi ve Ticaret A.S.: cautious scenario 3.45 TRY, base 3.49 TRY, optimistic 5.03 TRY per share (as of Nov 11, 2026, price 5.63 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN)?
Balance-sheet figures for Margün Enerji Üretim Sanayi ve Ticaret A.S. (as of Nov 11, 2026): return on equity −5.0%, debt of 0.16 per unit of equity. They feed the Quality Score of 32/100, which measures business quality independently of the share price.
How far is MAGEN from its 52-week high?
Margün Enerji Üretim Sanayi ve Ticaret A.S. trades at 5.63 TRY, about 92% below its 52-week high of 68.25 TRY and 36% above the low of 4.15 TRY (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of 3.49 TRY is for.
Which stocks are comparable to Margün Enerji Üretim Sanayi ve Ticaret A.S.?
From the same area (Utilities) we also value China Yangtze Power Co, Ørsted A/S, Huaneng Lancang River Hydropower Inc, 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 Margün Enerji Üretim Sanayi ve Ticaret A.S. stock attractive at the current price?
The data as of Nov 11, 2026: price 5.63 TRY, calculated fair value 3.49 TRY (−38%), Quality Score 32/100, 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 MAGEN calculated?
We run Margün Enerji Üretim Sanayi ve Ticaret A.S. through 9 models from 4 families: DCF Models, Multiples, Asset-Based, Growth DCF. Every model gets the same audited fundamentals; the fair value of 3.49 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 15.1% above its aggregate fair value. Margün Enerji Üretim Sanayi ve Ticaret A.S. 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 Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN)?
The closing price on Nov 10, 2026 was 5.63 TRY. Our model-based fair value is 3.49 TRY, about 38% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Margün Enerji Üretim Sanayi ve Ticaret A.S. right now?
The price sits above even our optimistic bull case (5.03 TRY). The favourable scenario is already priced in. Weak quality (32/100) 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 Margün Enerji Üretim Sanayi ve Ticaret A.S.
How large is the market capitalisation of Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN)?
The market capitalisation of Margün Enerji Üretim Sanayi ve Ticaret A.S. is 16.6B TRY (≈ $331M). 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 Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN)?
The price-to-sales ratio of Margün Enerji Üretim Sanayi ve Ticaret A.S. is 10.9 (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 Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN)?
Earnings per share at Margün Enerji Üretim Sanayi ve Ticaret A.S. 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 Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN)?
The net margin of Margün Enerji Üretim Sanayi ve Ticaret A.S. is −74.8% (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 Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN)?
The return on equity (ROE) of Margün Enerji Üretim Sanayi ve Ticaret A.S. is −5.0% (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 Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN)?
On an EBIT basis the return on assets of Margün Enerji Üretim Sanayi ve Ticaret A.S. is 1.5% (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 Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN)?
The operating margin of Margün Enerji Üretim Sanayi ve Ticaret A.S. is 0.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN)?
Revenue at Margün Enerji Üretim Sanayi ve Ticaret A.S. is growing −43.8% versus a year earlier (3y avg +28.1%). 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 Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN)?
Earnings per share at Margün Enerji Üretim Sanayi ve Ticaret A.S. are growing +216% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Margün Enerji Üretim Sanayi ve Ticaret A.S. (MAGEN) carry?
The net debt of Margün Enerji Üretim Sanayi ve Ticaret A.S. 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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Thin data
Nov 11, 2026