Galata Wind Enerji (IBSE:GWIND) - Share price, News & Analysis

Q: What is the Fair Price of GWIND when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

GWIND (TRY8.06) is trading above our estimate of [[fair value]] (TRY2.63)

GWIND fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	0/6
Past Performance	6/6
Financial Health	5/6
Dividends	3/6

GWIND Stock Overview

Galata Wind Enerji A.S. operates wind and solar power plants.

Rewards

Earnings grew by 143.7% over the past year

Risk Analysis

Unstable dividend track record

Galata Wind Enerji Competitors

Pamukova Yenilenebilir Elektrik Uretim

IBSE:PAMEL

₺4.2b

Biotrend Cevre ve Enerji Yatirimlari

IBSE:BIOEN

₺4.0b

Margün Enerji Üretim Sanayi ve Ticaret

IBSE:MAGEN

₺5.1b

Aydem Yenilenebilir Enerji

IBSE:AYDEM

₺6.7b

Price History & Performance

Summary of all time highs, changes and price drops for Galata Wind Enerji
Historical stock prices
Current Share Price	₺8.06
52 Week High	₺8.58
52 Week Low	₺3.33
Beta	0
1 Month Change	10.87%
3 Month Change	17.32%
1 Year Change	142.04%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	44.96%

Shareholder Returns

	GWIND	TR Renewable Energy	TR Market
7D	-3.0%	-1.1%	-3.6%
1Y	142.0%	132.6%	56.0%

Return vs Industry: GWIND exceeded the TR Renewable Energy industry which returned 132.6% over the past year.

Return vs Market: GWIND exceeded the TR Market which returned 56% over the past year.

Price Volatility

Is GWIND's price volatile compared to industry and market?
GWIND volatility
GWIND Average Weekly Movement	5.2%
Renewable Energy Industry Average Movement	5.9%
Market Average Movement	6.0%
10% most volatile stocks in TR Market	8.6%
10% least volatile stocks in TR Market	4.2%

Stable Share Price: GWIND is not significantly more volatile than the rest of TR stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: GWIND's weekly volatility (5%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2006	50	Burak Kuyan	https://www.galatawindenerji.com

Galata Wind Enerji A.S. operates wind and solar power plants. The company was formerly known as GY Enerji Danismanlik Poje Mühendislik Üretim, Ticaret ve Sanayi Limited Sirketi and changed its name to Galata Wind Enerji A.S. in January 2012. Galata Wind Enerji A.S. was founded in 2006 and is based in Istanbul, Turkey.

Galata Wind Enerji Fundamentals Summary

How do Galata Wind Enerji's earnings and revenue compare to its market cap?
GWIND fundamental statistics
Market Cap	₺4.31b
Earnings (TTM)	₺345.29m
Revenue (TTM)	₺739.70m

12.5x

P/E Ratio

5.8x

P/S Ratio

Is GWIND overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
GWIND income statement (TTM)
Revenue	₺739.70m
Cost of Revenue	₺157.66m
Gross Profit	₺582.04m
Other Expenses	₺236.75m
Earnings	₺345.29m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	0.65
Gross Margin	78.69%
Net Profit Margin	46.68%
Debt/Equity Ratio	63.1%

How did GWIND perform over the long term?

See historical performance and comparison

Dividends

3.5%

Current Dividend Yield

43%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is GWIND undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for GWIND?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for GWIND. This is calculated by dividing GWIND's market cap by their current preferred multiple.
What is GWIND's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	₺4.31b

GWIND key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	6.2x
Enterprise Value/EBITDA	7.6x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does GWIND's PE Ratio compare to its peers?

GWIND PE Ratio vs Peers

The above table shows the PE ratio for GWIND vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	397.8x
PAMEL Pamukova Yenilenebilir Elektrik Uretim	959.2x	n/a	₺4.2b
BIOEN Biotrend Cevre ve Enerji Yatirimlari	581.5x	n/a	₺4.0b
MAGEN Margün Enerji Üretim Sanayi ve Ticaret	10x	n/a	₺5.1b
AYDEM Aydem Yenilenebilir Enerji	40.7x	n/a	₺6.7b
GWIND Galata Wind Enerji	12.5x	n/a	₺4.3b

Forward PE

Price-To-Earnings vs Peers: GWIND is good value based on its Price-To-Earnings Ratio (12.5x) compared to the peer average (397.8x).

Price to Earnings Ratio vs Industry

How does GWIND's PE Ratio compare vs other companies in the Asian Renewable Energy Industry?

Price-To-Earnings vs Industry: GWIND is expensive based on its Price-To-Earnings Ratio (12.5x) compared to the TR Renewable Energy industry average (12.5x)

Price to Earnings Ratio vs Fair Ratio

What is GWIND's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

GWIND PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	12.5x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate GWIND's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of GWIND when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: GWIND (TRY8.06) is trading above our estimate of fair value (TRY2.63)

Significantly Below Fair Value: GWIND is trading above our estimate of fair value.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate GWIND's PEG Ratio to determine if it is good value.

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Future Growth

How is Galata Wind Enerji forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

17.4%

Forecasted Utilities industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Galata Wind Enerji has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

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Check out Galata Wind Enerji's track record over time to understand how much the company has returned to shareholders and its earnings growth rate in the past.

Past Performance

How has Galata Wind Enerji performed over the past 5 years?

Past Performance Score

6/6

Past Performance Score 6/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

46.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: GWIND has high quality earnings.

Growing Profit Margin: GWIND's current net profit margins (46.7%) are higher than last year (40.4%).

Past Earnings Growth Analysis

Earnings Trend: GWIND's earnings have grown significantly by 46% per year over the past 5 years.

Accelerating Growth: GWIND's earnings growth over the past year (143.7%) exceeds its 5-year average (46% per year).

Earnings vs Industry: GWIND earnings growth over the past year (143.7%) exceeded the Renewable Energy industry 47.7%.

Return on Equity

High ROE: GWIND's Return on Equity (33.5%) is considered high.

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Financial Health

How is Galata Wind Enerji's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: GWIND's short term assets (TRY617.1M) exceed its short term liabilities (TRY470.9M).

Long Term Liabilities: GWIND's short term assets (TRY617.1M) exceed its long term liabilities (TRY489.1M).

Debt to Equity History and Analysis

Debt Level: GWIND's net debt to equity ratio (24%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if GWIND's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: GWIND's debt is well covered by operating cash flow (69.7%).

Interest Coverage: GWIND's interest payments on its debt are well covered by EBIT (14.6x coverage).

Balance Sheet

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Dividend

What is Galata Wind Enerji current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

3.48%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: GWIND's dividend (3.48%) is higher than the bottom 25% of dividend payers in the TR market (0.71%).

High Dividend: GWIND's dividend (3.48%) is low compared to the top 25% of dividend payers in the TR market (3.76%).

Stability and Growth of Payments

Stable Dividend: Too early to tell whether GWIND's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if GWIND's dividend payments are increasing as they only just started paying a dividend.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (43.4%), GWIND's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (35.2%), GWIND's dividend payments are well covered by cash flows.

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Management

How experienced are the management team and are they aligned to shareholders interests?

0.9yrs

Average management tenure

CEO

Burak Kuyan

0.92

Tenure

Mr. Burak Kuyan is CEO & Director of Galata Wind Enerji A.S. from August 2021 and is Member of Management Board since August 2021. He was Chairman of Galata Wind Enerji A.S. until August 2021. He was Direc...

Leadership Team

Experienced Management: GWIND's management team is not considered experienced ( 0.9 years average tenure), which suggests a new team.

Board Members

Experienced Board: GWIND's board of directors are not considered experienced ( 0.9 years average tenure), which suggests a new board.

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/07/03 00:00
End of Day Share Price	2022/07/01 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31