Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret (SMRTG) fair value: what the stock is really worth
As of Oct 28, 2026: fair value (intrinsic value) of Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret stock TRY 5.17, price TRY 3.83, upside +35.0%, quality 19 out of 100. Rating: undervalued. 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. As of Oct 29, 2026.
How to read this chart
55‑month range 1.25 TRY – 30.50 TRY · fair‑value band 4.03 TRY – 6.16 TRY · the 3.83 TRY price screens below the 5.17 TRY fair value. As of Oct 29, 2026.
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Smart Günes Enerjisi Teknolojileri Arastirma ve Gelistirme Üretim Sanayi ve Ticaret A.S., an integrated solar technology company, produces solar photovoltaic modules in Turkey. The company installs renewable energy plants; and provides engineering and labor services.
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In addition, it engages in selling and marketing various solar power plant system equipment.
Further, the company is involved in the research and development activities for the electrical energy sector, including power grids and power generation facilities; provides maintenance and operation services of technical infrastructure and systems; manages turnkey projects for the electrical energy sector; offers project installation and maintenance repairs of low voltage lines and facilities, electrical networks, transformers, electricity distribution panels and tables, control systems, and meters.
The company was incorporated in 2014 and is headquartered in Istanbul, Turkey. Smart Günes Enerjisi Teknolojileri Arastirma ve Gelistirme Üretim Sanayi ve Ticaret A.S. is a subsidiary of Smart Holding A.S.
Stock analysis
Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret (SMRTG) currently trades at 3.83 TRY, while our model-based Fair Value estimate is 5.17 TRY, implying the stock looks roughly 25.9% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 17.04 TRY per share, and 5 of the 6 models we run sit above the 3.83 TRY price.
Bear case: the Asset-Based group reads lowest at 1.70 TRY, and 1 of the 6 models stay below the price. Data coverage for this calculation is low.
Scenario range: 4.03 TRY (bear) to 6.16 TRY (bull), the price of 3.83 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 19/100 (below-average quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret reported revenue of 10.6B TRY in FY2025 versus 846M TRY in FY2021, a compound +88.1%/yr. Reported net income was −435M TRY in FY2025.
Key figures
Market cap 7.0B TRY (≈ $139M) Micro · P/E ratio 38.3 · P/S ratio 0.59 · EPS (TTM) 0.1000 TRY · Net margin 2.6% · Return on equity 6.3% · Return on assets (EBIT) 10.1% · Operating margin 15.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 31 out of 100 (medium confidence).
What moves the price
The share trades about 70% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at 35%, SMRTG screens cheaper than that median.
Fair Value models
Bear4.03 TRYFair Value 5.17 TRYBull6.16 TRY
Price 3.83 TRY · Upside +35.0%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.0830 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. 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.46/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−30.8%
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.
+68.8%
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.
+78.8%
Start year 2020 (pandemic)
Revenue growth 6 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.
+72.5%
’19
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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.
11.1% (2020) → 15.5% (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 Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret 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.Solar · 95 stocks
Beats the industry median on 8/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score19 · Bottom 25%
Fair Value upside+35.0% · Above median
Profitability
Return on equity (12 months)6.3% · Above median
Return on assets−1.7% · Below median
Net margin (12 months)2.6% · Above median
Operating margin (12 months)15.7% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)107.6% · Top 25%
Balance sheet
Debt / equity0.65× · Above median
Valuation Multiplesvs Solar 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). "Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret Fair Value". https://www.fairvalue-calculator.com/stock/SMRTG
Frequently asked questions
Is Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret (SMRTG) overvalued or undervalued?
As of Oct 29, 2026, our model estimates a fair value of 5.17 TRY versus a price of 3.83 TRY, about +35% upside (undervalued).
What is the fair value of SMRTG?
Our model-based fair value for Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret is 5.17 TRY (as of Oct 29, 2026), built from audited fundamentals. The current price: 3.83 TRY.
What is the quality score of SMRTG?
Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret has a Quality Score of 19/100. 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 Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret (SMRTG)?
Our model-based price target is the fair value of 5.17 TRY (as of Oct 29, 2026) from 6 valuation models. Cautious scenario 4.03 TRY, optimistic scenario 6.16 TRY. It is a calculation from audited fundamentals, not an analyst target.
What is the Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret stock forecast for 2026?
Our models put fair value at 5.17 TRY, about +35% upside versus a price of 3.83 TRY (undervalued). Cautious scenario 4.03 TRY, optimistic scenario 6.16 TRY. The calculation is refreshed regularly with new filings.
What is the revenue of Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret (SMRTG)?
Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret reported trailing-twelve-month revenue of about 11.8B TRY (latest available figure, as of Oct 29, 2026).
What is the intrinsic value of Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret (SMRTG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret it is 5.17 TRY per share (as of Oct 29, 2026), against a price of 3.83 TRY. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret stock overvalued or undervalued in 2026?
As of Oct 29, 2026, SMRTG trades below its calculated fair value: price 3.83 TRY, fair value 5.17 TRY, a gap of about +35% (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 SMRTG?
No. The price is what the market pays today (3.83 TRY); the fair value is what the company's own numbers justify (5.17 TRY). For Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret the two are 1.34 TRY per share apart. That gap is exactly why we show both numbers side by side.
How much is Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret worth?
The market values Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret at about 7.0B TRY (market capitalisation, as of Oct 29, 2026). Per share that is 3.83 TRY; our models calculate a fair value of 5.17 TRY per share.
What do the bullish and bearish scenarios say about SMRTG?
Our models span a range for Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret: cautious scenario 4.03 TRY, base 5.17 TRY, optimistic 6.16 TRY per share (as of Oct 29, 2026, price 3.83 TRY). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SMRTG?
Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret trades at a price-to-earnings ratio of 38.3 (as of Oct 29, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 5.17 TRY is built from several models across several years. Other multiples: P/B 1.5, P/S 0.6, EV/EBITDA 3.3.
How solid is the balance sheet of Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret (SMRTG)?
Balance-sheet figures for Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret (as of Oct 29, 2026): return on equity 6.3%, debt of 0.65 per unit of equity. They feed the Quality Score of 19/100, which measures business quality independently of the share price.
How far is SMRTG from its 52-week high?
Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret trades at 3.83 TRY, about 70% below its 52-week high of 12.97 TRY and 1% above the low of 3.79 TRY (as of Oct 28, 2026). Distance from the high says nothing about value: that is what the fair value of 5.17 TRY is for.
Which stocks are comparable to Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret?
From the same area (Technology) we also value First Solar, Inc, Nextpower Inc, Tongwei Co, Waaree Energies 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 Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret stock attractive at the current price?
The data as of Oct 29, 2026: price 3.83 TRY, calculated fair value 5.17 TRY (+35%), Quality Score 19/100, from 6 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 SMRTG calculated?
We run Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret through 6 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 5.17 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 13.1 % above its aggregate fair value. Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret currently trades 26 % 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 Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret (SMRTG)?
The closing price on Oct 28, 2026 was 3.83 TRY. Our model-based fair value is 5.17 TRY, about +35% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret right now?
The large discount to fair value meets weak quality (19/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (4.03 TRY). The market is more pessimistic than our downside scenario. 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 Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret
How large is the market capitalisation of Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret (SMRTG)?
The market capitalisation of Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret is 7.0B TRY (≈ $139M). 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 Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret (SMRTG)?
The price-to-sales ratio of Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret is 0.59 (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 Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret (SMRTG)?
Earnings per share at Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret are 0.1000 TRY (price ÷ EPS = P/E 38.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret (SMRTG)?
The net margin of Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret is 2.6% (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 Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret (SMRTG)?
The return on equity (ROE) of Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret is 6.3% (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 Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret (SMRTG)?
On an EBIT basis the return on assets of Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret is 10.1% (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 Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret (SMRTG)?
The operating margin of Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret is 15.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret (SMRTG)?
Revenue at Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret is growing +108% versus a year earlier (3y avg +68.8%). 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 Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret (SMRTG)?
Earnings per share at Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret are growing +113% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret (SMRTG) generate?
The free cash flow of Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret is −924M 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 Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret (SMRTG) carry?
The net debt of Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret is 8.4B TRY (fiscal year 2025). 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
Oct 29, 2026