May 2026
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Largest Utilities Public Companies in Turkey
Benchmark revenue and EBITDA valuation multiples for public comps like
Margun Enerji, Enerjisa, Aksa Enerji, Enerya and Aygaz.
 | Margun Enerji Uretim Sanayi Ve Ticaret AS operates in the fields of power plant establishment, commissioning, electrical energy production, establishment, and commitment of power generation facilities in order to obtain electricity from Renewable Energy Sources, primarily Solar Energy. | $1 | +348% | $4B | $4B | 140.0x | (655.5x) | ||
| Enerjisa Enerji AS is Turkey's electricity distribution and retail company in a regulated sector, operating in 3 regions. Its electricity distribution and retail operations are carried out through its subsidiaries. Enerjisa Musteri Cozumleri was established to operate in customer solutions and distributed generation. | $2 | +106% | $3B | $4B | 0.7x | 3.9x | ||
| Aksa Enerji Uretim AS is an independent power producer, which engages in the power plant installation process that produces energy from natural gas, lignite, the hydroelectric, wind, and fuel oil. It operates through Turkey, Asia and Africa geographical segment out of which Turkey accounts for a majority of the firm's revenue. | $2 | +139% | $2B | $3B | 2.6x | 8.2x | ||
| Enerya Enerji AS principally is engaged in capital and management of its subsidiaries, which have been established or will be established, for the wholesale and retail distribution and sale of natural gas. | $0 | +72% | $2B | $2B | 2.2x | 9.8x | ||
| Aygaz AS is a gas company engaged in the sale and distribution of liquefied petroleum gas, or LPG, and natural gas products in Turkey. The group has three operating segments which are LPG and gas, cargo transportation and distribution, petroleum products, and electricity. It generates the majority of its revenue from the LPG and gas segment. | $6 | +95% | $1B | $1B | 0.6x | 7.0x | ||
| Lydia Yesil Enerji Kaynaklari AS aims to achieve sustainable development by reducing environmental risks and ecological scarcities with its green economy vision. Its fields of activities are Solar Energy, Research and Development, and Sustainability. | $354 | -12% | $670M | $670M | 573.4x | 11.6x | ||
| Izdemir Enerji Elektrik Uretim AS is an electricity generation corporation it has been established with the latest technology in accordance with the technical and environmental standards valid in Turkey and internationally which supplies 2.562 million kWh of electrical energy annually. Its power generation facility uses pulverized coal burning technology. | $0 | +91% | $657M | $664M | 3.3x | 13.4x | ||
| Akfen Yenilenebilir Enerji AS operates as a renewable energy company. The company generates and trades electricity through renewable energy power plants such as hydroelectric power plant facilities, Solar Power Plants, and Wind Power Plants. | $0 | +40% | $587M | $851M | 6.7x | 12.6x | ||
| IC Enterra Yenilenebilir Enerji AS is a energy producing company in Turkey. It generates electricity from hydroelectric power plants and has power plants in Trabzon, Erzincan, Tokat, Mersin and Giresun. | $0 | +14% | $414M | $669M | 6.0x | 8.2x | ||
| Aydem Yenilenebilir Enerji AS is operating in the field of renewable energy generation. It generates revenues from sales of electricity. | $1 | +53% | $391M | $875M | 2.3x | 6.0x | ||
| Zorlu Enerji Elektrik Uretim AS together with its subsidiaries is engaged in establishing, renting and operating facilities of electrical energy production plant, producing electricity and trading electricity to the customers. | $0 | +0% | $339M | $1B | 1.8x | 11.7x | ||
| Esenboga Elektrik Uretim AS is engaged in the business of generating and selling electricity from solar power. | $0 | -59% | $157M | $329M | 10.1x | (85.6x) | ||
| Enda Enerji Holding AS is engaged in developing and operating renewable energy projects in Turkey, including hydroelectric, wind, and geothermal power plants. The company also supplies electricity to independent consumers via its subsidiary, Ensat Electricity Energy Supply Co. | $0 | -13% | $148M | $121M | 4.6x | 33.4x | ||
| Median | $0 | +53% | $657M | $875M | 3.3x | 8.2x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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