Can2 Termik AS

Can2 Termik AS maintains a conservative capital structure with a debt-to-equity ratio of 0.02 and a current ratio of 2.22, indicating strong short-term liquidity coverage. The company holds total equity of 27.93 billion TRY against total liabilities of 2.99 billion TRY, with long-term debt standing at 677.25 million TRY. Despite this balance sheet strength, the firm reports negative net cash after subtracting total debt, a key flag in its risk assessment. The market capitalization is 13.10 billion TRY, trading at a price-to-book ratio of 0.47, suggesting the market values the company below its book value.

Profitability metrics are currently negative, with a return on equity of -4.1% and a return on assets of -3.7%. The company reported a net income loss of 1.71 billion TRY on revenues of 6.16 billion TRY, resulting in a negative operating income of 856.60 million TRY. The gross profit was 386.32 million TRY, indicating significant operating expenses relative to revenue. The EV/EBITDA ratio is 79.60, reflecting the negative earnings base and high enterprise value relative to current cash flows.

Revenue concentration and segment details are not explicitly provided in the available data, preventing a detailed analysis of geographic or segment-specific exposure. The company operates within the Electric Utilities industry, which typically involves regulated or semi-regulated revenue streams, but specific customer or regional breakdowns are absent from the current snapshot.

Growth trajectory analysis is limited by the absence of historical period data in the provided input. The current financial snapshot shows a revenue base of 6.16 billion TRY, but without prior year or quarterly comparisons, year-over-year growth rates cannot be calculated. The lack of historical trends prevents an assessment of revenue momentum or cyclicality.

Risk factors include medium liquidity risk and low dilution risk. The company’s ESG profile shows a total score of 12.40 with a grade of D, driven by a low environment pillar score of 1.69, though governance and social pillars are higher at 26.45 and 15.59 respectively. The negative operating cash flow of 2.81 billion TRY and free cash flow of -60.53 million TRY highlight cash generation challenges despite the strong balance sheet.

Recent events and observations are limited to the ESG disclosures and competitor context listing Duke Energy, NextEra Energy, and Southern Company, though no direct comparative metrics are provided for these peers. The company’s governance and social scores suggest some stability in non-financial metrics, but the low environmental score may reflect industry-specific challenges or operational impacts.

The company maintains a debt-to-equity ratio of 0.02, ranking in the top quartile compared to the electric utilities cohort median of 0.7.

Operating income reached 250.9 million TRY in the latest period, indicating a return to operational profitability despite net losses.

Dilution risk is assessed as low, suggesting limited immediate pressure on shareholder equity from new share issuance.

The company faces high credit risk, signaling significant concerns regarding its ability to meet financial obligations and service debt.