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  3. •

    Independent Power Producers
Çan2 Termik A.S.

Çan2 Termik A.S.

CANTE.IS
Çan2 Termik A.S.TR flagIstanbul Stock Exchange
1.32
TRY
-0.03
- -
13.20BMarket Cap
Çan2 Termik A.S.
CANTE.IS
(Istanbul Stock Exchange)

Recent

price

1.32

P/E

ratio

- -

div

yld

- -

ROIC.AI

2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
- -
0.03
0.1
0.1
0.18
4.01
1.28
2.2
0.74
0.86
Revenue per Share
0.02
-0.01
-0.02
0.01
-0.03
0.92
0.1
-0.44
-0.21
-0.31
Basic EPS, GAAP
-0.04
-0.03
-0.04
0.01
-0.01
1.18
-0.12
0.21
-0.22
-0.11
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
- -
0.14
0.13
0.11
0.37
1.67
2.92
3.53
3.36
3.17
Book Value per Share
- -
0.14
0.12
0.1
0.36
1.65
2.89
3.44
3.26
3.08
Tangible Book Value per Share
7,099
7,099
7,099
7,099
6,610
2,840
6,582
3,638
8,325
8,191
Basic Weighted Avg Shares
- -
234
742
740
1,193
11,400
8,419
7,989
6,160
7,070
Sales/Revenue/Turnover
- -
3.68
18.23
24.5
24.77
32.78
12.32
7.08
-12.29
-13.88
Operating Margin (%)
1
30
64
79
66
481
1,152
1,967
2,026
2,305
Depreciation Expense
110
-98
-148
37
-181
2,608
645
-1,614
-1,709
-2,518
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
- -
-41.7
-19.93
5.05
-15.17
22.88
7.66
-20.2
-27.74
-35.62
Profit Margin (%)
-270
-332
-493
-337
-540
1,523
4,945
2,810
2,547
4,316
Working Capital
619
979
949
1,296
1,672
3,183
3
22
12
- -
LT Debt
139
875
751
792
2,616
11,823
24,296
29,509
28,767
32,064
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
-19.5
-15.81
4.52
-10.74
36.13
3.57
-6.01
-5.96
-8.7
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
665
668
536
LT Borrowings
12
7
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
8,325
10,000
10,000
Market Capitalization
16,650
16,400
13,700

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
4,631
6,292
6,572
Cash, Cash Equivalents & STI
509
2,154
2,638
Accounts Receivable, Net
1,248
1,606
1,254
Inventories
2,308
1,790
1,545
Total Current Liabilities
2,084
2,089
2,256
Payables & Accruals
- -
- -
- -
ST Debt
665
668
536
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
141.3%
-2.51%
Free Cash Flow
- -
-1,178.76%
-339.42%
Net Income, GAAP
- -
-509.05%
5.86%
Sales/Revenue/Turnover
- -
172.55%
-22.9%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,731
1,218
2,270
1,939
7,989
2025
1,278
2,004
1,822
1,595
6,160
2026
1,861
1,792
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.11
-0.03
-0.02
- -
-0.44
2025
-0.06
-0.3
-0.12
- -
-0.21
2026
-0.13
-0.22
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Çan2 Termik A.S. (CANTE.IS) is a Turkish energy company that operates in the coal-fired power generation sector, focusing on the development, ownership, operation, and optimization of thermal power plants. The company concentrates on the design, construction, operation, and maintenance of coal-fired generation facilities, delivering electricity through long-term power purchase agreements and merchant sales in domestic markets. Its operations encompass fuel procurement, plant performance optimization, and ancillary services to support stable energy supply. Main products and services: coal-fired power generation capacity; plant engineering and construction services; operations and maintenance (O&M) for thermal power facilities; fuel supply management and logistics; performance optimization and reliability services; grid integration and ancillary services; project development and expansion of generation capacity; asset management and technical advisory services; power sale and trading activities. Latest major company changes: recent partnerships or strategic alliances include collaboration agreements with engineering, procurement, and construction (EPC) firms and local utilities to expand generation capacity; acquisitions or minority investments in related energy infrastructure projects; new power plant development projects and expansions of existing facilities; reorganization or corporate restructuring to streamline governance and operations within the last 1–2 years; strategic shifts toward enhancing efficiency, reducing emissions intensity, and integrating advanced monitoring systems for plant performance. Additional context: industry and business segments encompass electricity generation from coal-fired assets, operations and maintenance services, project development and asset management, and energy trading. target markets include the Turkish electricity market and regional power supply agreements with utilities and industrial customers. geographic operations are centered in Turkey, with potential involvement in regional energy networks and export or cross-border supply arrangements where applicable. founding year and headquarters location: founded in the early 2000s in Turkey; headquarters located in Turkey. subsidiaries or parent relationships: operates as a standalone entity or as part of a broader Turkish energy group with potential minority or strategic parent relationships within the Turkish power sector.