Pamukova Yenilenebilir Elektrik Uretim (IBSE:PAMEL) - Share price, News & Analysis

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

PAMEL (TRY131.5) is trading above our estimate of [[fair value]] (TRY0.25)

PAMEL fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	0/6
Past Performance	2/6
Financial Health	3/6
Dividends	0/6

PAMEL Stock Overview

Pamukova Yenilenebilir Elektrik Uretim A.S.

Risk Analysis

Makes less than USD$1m in revenue (TRY15M)

Profit margins (29.6%) are lower than last year (70.7%)

Pamukova Yenilenebilir Elektrik Uretim Competitors

Biotrend Cevre ve Enerji Yatirimlari

IBSE:BIOEN

₺3.9b

Galata Wind Enerji

IBSE:GWIND

₺4.2b

Margün Enerji Üretim Sanayi ve Ticaret

IBSE:MAGEN

₺5.1b

Aydem Yenilenebilir Enerji

IBSE:AYDEM

₺6.4b

Price History & Performance

Summary of all time highs, changes and price drops for Pamukova Yenilenebilir Elektrik Uretim
Historical stock prices
Current Share Price	₺131.50
52 Week High	₺133.40
52 Week Low	₺31.34
Beta	3.51
1 Month Change	29.18%
3 Month Change	40.49%
1 Year Change	256.56%
3 Year Change	15,554.76%
5 Year Change	10,767.77%
Change since IPO	6,044.86%

Shareholder Returns

	PAMEL	TR Renewable Energy	TR Market
7D	7.4%	-3.9%	-5.0%
1Y	256.6%	126.5%	55.1%

Return vs Industry: PAMEL exceeded the TR Renewable Energy industry which returned 137.8% over the past year.

Return vs Market: PAMEL exceeded the TR Market which returned 60.7% over the past year.

Price Volatility

Is PAMEL's price volatile compared to industry and market?
PAMEL volatility
PAMEL Average Weekly Movement	6.0%
Renewable Energy Industry Average Movement	5.8%
Market Average Movement	6.0%
10% most volatile stocks in TR Market	8.7%
10% least volatile stocks in TR Market	4.2%

Stable Share Price: PAMEL is not significantly more volatile than the rest of TR stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: PAMEL's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2007	20	Bayram Kinay	https://www.pamel.com.tr

Pamukova Yenilenebilir Elektrik Uretim A.S. engages in the construction and operation of power plants in Turkey. It operates a 6,744 MW hydroelectric power plant. The company was formerly known as Bomonti Elektrik Muhendislik Musavirlik Insaat Turizm Ve Ticaret A.S. and changed its name to Pamukova Yenilenebilir Elektrik Uretim A.S. in December 2020.

Pamukova Yenilenebilir Elektrik Uretim Fundamentals Summary

How do Pamukova Yenilenebilir Elektrik Uretim's earnings and revenue compare to its market cap?
PAMEL fundamental statistics
Market Cap	₺4.09b
Earnings (TTM)	₺4.37m
Revenue (TTM)	₺14.75m

935.7x

P/E Ratio

277.3x

P/S Ratio

Is PAMEL overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
PAMEL income statement (TTM)
Revenue	₺14.75m
Cost of Revenue	₺8.71m
Gross Profit	₺6.04m
Other Expenses	₺1.67m
Earnings	₺4.37m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	0.14
Gross Margin	40.96%
Net Profit Margin	29.63%
Debt/Equity Ratio	29.4%

How did PAMEL perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

0/6

Valuation Score 0/6

Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales 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 PAMEL?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for PAMEL. This is calculated by dividing PAMEL's market cap by their current preferred multiple.
What is PAMEL's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	₺4.09b

PAMEL 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	280.2x
Enterprise Value/EBITDA	139.5x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does PAMEL's PS Ratio compare to its peers?

PAMEL PS Ratio vs Peers

The above table shows the PS ratio for PAMEL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PS	Estimated Growth	Market Cap
Peer Average	6.1x
BIOEN Biotrend Cevre ve Enerji Yatirimlari	6.6x	n/a	₺3.9b
GWIND Galata Wind Enerji	5.7x	n/a	₺4.2b
MAGEN Margün Enerji Üretim Sanayi ve Ticaret	8.7x	n/a	₺5.1b
AYDEM Aydem Yenilenebilir Enerji	3.5x	n/a	₺6.4b
PAMEL Pamukova Yenilenebilir Elektrik Uretim	277.3x	n/a	₺4.1b

Forward PS

Price-To-Sales vs Peers: PAMEL is expensive based on its Price-To-Sales Ratio (277.3x) compared to the peer average (6.1x).

Price to Earnings Ratio vs Industry

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

Price-To-Sales vs Industry: PAMEL is expensive based on its Price-To-Sales Ratio (277.3x) compared to the TR Renewable Energy industry average (5.8x)

Price to Sales Ratio vs Fair Ratio

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

PAMEL PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	277.3x
Fair PS Ratio	n/a

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

Share Price vs Fair Value

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

Below Fair Value: PAMEL (TRY131.5) is trading above our estimate of fair value (TRY0.25)

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

Price to Earnings Growth Ratio

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

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Future Growth

How is Pamukova Yenilenebilir Elektrik Uretim 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

17.3%

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 Pamukova Yenilenebilir Elektrik Uretim 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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Take a look at our analysis of PAMEL’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.

Past Performance

How has Pamukova Yenilenebilir Elektrik Uretim performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

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

63.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PAMEL has high quality earnings.

Growing Profit Margin: PAMEL's current net profit margins (29.6%) are lower than last year (70.7%).

Past Earnings Growth Analysis

Earnings Trend: PAMEL has become profitable over the past 5 years, growing earnings by 63.3% per year.

Accelerating Growth: PAMEL's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: PAMEL had negative earnings growth (-26.3%) over the past year, making it difficult to compare to the Renewable Energy industry average (47.7%).

Return on Equity

High ROE: PAMEL's Return on Equity (2.7%) is considered low.

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Financial Health

How is Pamukova Yenilenebilir Elektrik Uretim's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

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

Financial Position Analysis

Short Term Liabilities: PAMEL's short term assets (TRY7.2M) do not cover its short term liabilities (TRY7.5M).

Long Term Liabilities: PAMEL's short term assets (TRY7.2M) do not cover its long term liabilities (TRY50.1M).

Debt to Equity History and Analysis

Debt Level: PAMEL's net debt to equity ratio (26.8%) is considered satisfactory.

Reducing Debt: PAMEL's debt to equity ratio has reduced from 77.3% to 29.4% over the past 5 years.

Debt Coverage: PAMEL's debt is not well covered by operating cash flow (13.5%).

Interest Coverage: PAMEL's interest payments on its debt are well covered by EBIT (4.9x coverage).

Balance Sheet

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Dividend

What is Pamukova Yenilenebilir Elektrik Uretim current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

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

Dividend Yield vs Market

Notable Dividend: Unable to evaluate PAMEL's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate PAMEL's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PAMEL's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PAMEL's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as PAMEL has not reported any payouts.

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Management

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

8.7yrs

Average board tenure

CEO

Bayram Kinay (63 yo)

no data

Tenure

Mr. Bayram Kinay has been the Chairman of Pamukova Yenilenebilir Elektrik Uretim A.S. (formerly known as Bomonti Elektrik Muhendislik Musavirlik Insaat Turizm Ve Ticaret A.S.) since October 11, 2013. Mr. K...

Board Members

Experienced Board: PAMEL's board of directors are considered experienced (8.7 years average tenure).

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	2022/06/29 00:00
End of Day Share Price	2022/06/29 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31