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    Utilities

  3. •

    Electric utilities
Ayen Enerji A.S.

Ayen Enerji A.S.

BBIST:AYEN
24.10
TRY
+0.16
(+0.67%)
0.93EPS
50.90P/E
9.69BMarket Cap
Ayen Enerji A.S.
BIST:AYEN
(Istanbul Exchange)

Recent

price

24.10

P/E

ratio

50.90

div

yld

0.56%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
TRY
0.55
0.64
0.87
1.65
1.03
1.27
1.58
2.14
4.55
1.9
2.05
5.67
41.93
27.5
30.59
28.36
25.15
Revenue per Share
0.18
0.11
0.1
-0.22
0.12
-0.13
-0.13
0.16
-0.29
0.08
-0.33
0.4
9.04
7.06
3.72
0.85
0.69
Basic EPS, GAAP
0.26
-0.72
0.26
0.21
-0.55
-0.03
0.28
0.3
0.47
1.06
0.84
1.88
13.59
-5.32
10.06
5.86
5.93
Free Cash Flow per Basic Share
0.15
- -
0.16
- -
- -
0.01
0.01
0.01
0.01
- -
- -
- -
0.23
2.03
0.86
0.28
0.13
Dividend per Share
1.12
1.22
1.17
0.99
1.08
1.01
1
1.65
2.15
2.47
2.84
5.95
45.69
68.58
60.64
62.49
71.89
Book Value per Share
0.99
1.05
0.97
0.8
0.9
0.83
0.83
1.5
2.03
2.38
2.78
5.88
45.48
68.51
60.57
62.49
71.88
Tangible Book Value per Share
223
223
223
223
223
223
223
223
171
271
278
278
278
278
278
278
278
Basic Weighted Avg Shares
123
142
194
369
230
284
353
476
778
513
568
1,575
11,635
7,632
8,489
7,869
6,978
Sales/Revenue/Turnover
40.86
24.27
22.36
14.06
19.55
15.66
24
16.11
20.01
35.98
30.07
31.91
30.2
15.68
21.1
14.85
14.9
Operating Margin (%)
9
8
20
25
29
33
37
31
65
73
87
120
497
738
898
897
992
Depreciation Expense
41
24
23
-49
27
-29
-28
35
-50
21
-92
112
2,508
1,959
1,032
236
190
Net Income, GAAP
20.43
19.94
23.06
- -
23.76
- -
- -
- -
- -
52.17
- -
9.24
21.33
- -
38.43
64.63
26
Effective Tax Rate (%)
33.14
16.61
11.66
-13.24
11.67
-10.27
-8.02
7.36
-6.38
4.1
-16.11
7.09
21.55
25.66
12.16
3
2.73
Profit Margin (%)
26
-158
-55
-124
-56
-258
-362
-180
-263
-274
-388
-448
2,422
566
83
-1,030
-680
Working Capital
168
360
475
592
845
950
1,079
1,190
1,443
1,383
1,802
2,508
7,004
7,593
5,934
5,179
5,052
LT Debt
261
296
289
242
274
265
284
427
557
755
870
1,813
13,384
19,887
17,543
18,100
20,766
Total Equity
8.93
4.75
4.3
- -
3.08
- -
- -
- -
- -
3.62
- -
10.98
19.49
- -
3.74
1.58
2.89
Return on Invested Capital (%)
9.78
4.05
3.81
- -
4.1
- -
- -
- -
- -
3.39
- -
5.7
18.3
- -
5.15
1.57
2.16
Return on Capital (%)
16.64
9.04
8.49
-20.35
11.64
-12.49
-12.58
11.84
-11.71
3.61
-12.4
9.16
35
12.35
5.76
1.38
1.07
Return on Common Equity (%)

Capital Structure

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
1,936
1,920
2,241
LT Borrowings
4,741
4,724
4,653
LT Finance Leases
438
404
399
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
278
278
278
Market Capitalization
6,888
9,318
9,690

Working Capital

TRY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,642
1,738
1,913
Cash, Cash Equivalents & STI
343
635
507
Accounts Receivable, Net
703
533
401
Inventories
- -
- -
- -
Total Current Liabilities
2,672
2,238
2,593
Payables & Accruals
- -
- -
- -
ST Debt
1,936
1,920
2,241
Deferred Revenue
- -
- -
- -

Growth Rates

TRY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
92.54%
157.29%
3.18%
Free Cash Flow
-36.8%
55.43%
-41.79%
Net Income, GAAP
63.15%
355.51%
-77.09%
Sales/Revenue/Turnover
88.5%
157.13%
-7.31%
Total Cash Common Dividend
- -
- -
-67.46%

Quarterly Revenue

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,350
2,211
2,212
2,129
8,489
2025
2,325
2,156
1,974
2,116
7,869
2026
1,883
1,006
- -
- -
- -

Quarterly Earnings Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.27
1.15
0.82
0.24
3.72
2025
0.36
0.74
-0.7
0.63
0.85
2026
0.34
0.41
- -
- -
- -

Quarterly Dividends Per Share

TRY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
0.35
0.28
0.86
2025
- -
- -
0.07
0.06
0.28
2026
- -
- -
- -
- -
- -
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Business
Ayen Enerji A.S., along with its affiliated entities, focuses on the generation, supply, and commercialization of electrical power across Turkey and in international markets. The company harnesses renewable resources, specifically hydroelectric and wind energy, for its production activities. Established in Ankara, Turkey, in 1990, the firm operates as a subsidiary under Aydiner Insaat AS. Recent developments include a strategic shift with the concession conclusion of the Yamula hydroelectric plant in July 2025, which transferred the 100 MW facility to the state utility. This event impacted financial metrics, yet the company continues to expand its global presence, with a substantial portion of its revenue now derived from operations and trading in countries such as Albania, Serbia, and Slovenia.