Zorlu Enerji Elektrik Uretim AS (ZOREN) - Net Assets

Latest as of March 2026: TL61.08 Billion TRY ≈ $1.37 Billion USD

Based on the latest financial reports, Zorlu Enerji Elektrik Uretim AS (ZOREN) has net assets worth TL61.08 Billion TRY (≈ $1.37 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (TL135.04 Billion ≈ $3.02 Billion USD) and total liabilities (TL73.96 Billion ≈ $1.66 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Also explore balance sheet size of Zorlu Enerji Elektrik Uretim AS for the complete picture of this company's asset base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	TL61.08 Billion
% of Total Assets	45.23%
Annual Growth Rate	-31.85%
5-Year Change	830.96%
10-Year Change	12283.5%
Growth Volatility	101.6

Zorlu Enerji Elektrik Uretim AS - Net Assets Trend (2003–2025)

This chart illustrates how Zorlu Enerji Elektrik Uretim AS's net assets have evolved over time, based on quarterly financial data. Check Zorlu Enerji Elektrik Uretim AS tangible equity quality to evaluate the tangible quality of the company's equity base.

Annual Net Assets for Zorlu Enerji Elektrik Uretim AS (2003–2025)

The table below shows the annual net assets of Zorlu Enerji Elektrik Uretim AS from 2003 to 2025. For live valuation and market cap data, see market cap of Zorlu Enerji Elektrik Uretim AS.

Year	Net Assets	Change
2025-12-31	TL57.55 Billion ≈ $1.29 Billion	-1.87%
2024-12-31	TL58.65 Billion ≈ $1.31 Billion	+52.44%
2023-12-31	TL38.47 Billion ≈ $861.67 Million	+118.48%
2022-12-31	TL17.61 Billion ≈ $394.39 Million	+184.84%
2021-12-31	TL6.18 Billion ≈ $138.46 Million	+169.10%
2020-12-31	TL2.30 Billion ≈ $51.45 Million	+40.11%
2019-12-31	TL1.64 Billion ≈ $36.72 Million	-30.80%
2018-12-31	TL2.37 Billion ≈ $53.06 Million	+40.84%
2017-12-31	TL1.68 Billion ≈ $37.67 Million	+261.95%
2016-12-31	TL464.74 Million ≈ $10.41 Million	-38.26%
2015-12-31	TL752.74 Million ≈ $16.86 Million	+42.10%
2014-12-31	TL529.71 Million ≈ $11.86 Million	-31.29%
2013-12-31	TL770.92 Million ≈ $17.27 Million	+33.28%
2012-12-31	TL578.42 Million ≈ $12.96 Million	+521.99%
2011-12-31	TL-137.07 Million ≈ $-3.07 Million	-190.17%
2010-12-31	TL152.02 Million ≈ $3.40 Million	-32.02%
2009-12-31	TL223.62 Million ≈ $5.01 Million	+229691.38%
2008-12-31	TL-97.40K ≈ $-2.18K	-100.03%
2007-12-31	TL315.82 Million ≈ $7.07 Million	+3.96%
2006-12-31	TL303.79 Million ≈ $6.80 Million	-9.65%
2005-12-31	TL336.23 Million ≈ $7.53 Million	+1.11%
2004-12-31	TL332.53 Million ≈ $7.45 Million	-100.00%
2003-12-31	TL265.13 Trillion ≈ $5.94 Trillion	--

Equity Component Analysis

This analysis shows how different components contribute to Zorlu Enerji Elektrik Uretim AS's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have decreased by 99.9% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	TL51.84 Billion	90.08%
Other Components	TL5.71 Billion	9.92%
Total Equity	TL57.55 Billion	100.00%

Zorlu Enerji Elektrik Uretim AS Competitors by Market Cap

The table below lists competitors of Zorlu Enerji Elektrik Uretim AS ranked by their market capitalization.

Company	Market Cap
TQM CORPORATION BK:TQM-R	$260.95 Million
Anhui Huaqi Environmental Protection Technology Co. Ltd. SHE:300929	$261.03 Million
Bourse Direct SA PA:BSD	$261.14 Million
QST International TWO:8349	$261.19 Million
Eledon Pharmaceuticals Inc NASDAQ:ELDN	$260.89 Million
Jiangsu Gaoke Petrochemical Co SHE:002778	$260.87 Million
Richtech Robotics Inc. Class B Common Stock NASDAQ:RR	$260.80 Million
Chongqing Sifang New Material Co. Ltd. SHG:605122	$260.78 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Zorlu Enerji Elektrik Uretim AS's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 58,647,103,000 to 57,550,928,000, a change of -1,096,175,000 (-1.9%).
Net loss of 14,707,184,000 reduced equity.
Other factors increased equity by 13,611,009,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	TL-14.71 Billion	-25.56%
Other Changes	TL13.61 Billion	+23.65%
Total Change	TL-	-1.87%

Book Value vs Market Value Analysis

This analysis compares Zorlu Enerji Elektrik Uretim AS's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 0.20x
The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
The price-to-book ratio has decreased from 3.92x to 0.20x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2005-12-31	TL0.59	TL2.33	x
2006-12-31	TL0.52	TL2.33	x
2007-12-31	TL0.49	TL2.33	x
2008-12-31	TL-0.15	TL2.33	x
2009-12-31	TL0.61	TL2.33	x
2010-12-31	TL0.19	TL2.33	x
2011-12-31	TL0.00	TL2.33	x
2012-12-31	TL0.49	TL2.33	x
2013-12-31	TL0.66	TL2.33	x
2014-12-31	TL0.45	TL2.33	x
2015-12-31	TL6.08	TL2.33	x
2016-12-31	TL3.43	TL2.33	x
2017-12-31	TL5.19	TL2.33	x
2018-12-31	TL0.68	TL2.33	x
2019-12-31	TL0.48	TL2.33	x
2020-12-31	TL0.68	TL2.33	x
2021-12-31	TL1.76	TL2.33	x
2022-12-31	TL4.29	TL2.33	x
2023-12-31	TL11.52	TL2.33	x
2024-12-31	TL11.73	TL2.33	x
2025-12-31	TL11.51	TL2.33	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Zorlu Enerji Elektrik Uretim AS utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): -25.56%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: -40.63%
• Asset Turnover: 0.28x
• Equity Multiplier: 2.27x
Recent ROE (-25.56%) is below the historical average (-1.61%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2003	3.37%	5.19%	0.46x	1.41x	TL-17.20 Trillion
2004	7.44%	11.07%	0.38x	1.77x	TL-8.32 Million
2005	1.23%	1.84%	0.35x	1.94x	TL-28.63 Million
2006	-16.15%	-11.78%	0.47x	2.95x	TL-74.72 Million
2007	-3.85%	-2.20%	0.42x	4.21x	TL-37.16 Million
2008	0.00%	-49.95%	0.26x	0.00x	TL-324.83 Million
2009	42.63%	16.37%	0.23x	11.46x	TL68.58 Million
2010	-51.34%	-17.28%	0.17x	17.83x	TL-89.63 Million
2011	0.00%	-91.51%	0.13x	0.00x	TL-392.82 Million
2012	102.25%	112.18%	0.11x	8.65x	TL531.57 Million
2013	-40.46%	-48.59%	0.10x	8.31x	TL-385.59 Million
2014	-42.31%	-27.79%	0.16x	9.36x	TL-277.23 Million
2015	-35.49%	-46.50%	0.10x	7.46x	TL-342.71 Million
2016	-0.87%	-0.34%	0.17x	14.69x	TL-50.62 Million
2017	3.08%	1.34%	0.34x	6.70x	TL-116.43 Million
2018	1.40%	0.51%	0.39x	6.97x	TL-211.67 Million
2019	-7.92%	-1.66%	0.45x	10.66x	TL-313.90 Million
2020	3.02%	0.86%	0.40x	8.75x	TL-170.66 Million
2021	-1.37%	-0.74%	0.33x	5.61x	TL-717.49 Million
2022	0.63%	0.37%	0.45x	3.81x	TL-1.66 Billion
2023	28.44%	40.03%	0.28x	2.57x	TL7.08 Billion
2024	-5.28%	-7.97%	0.33x	2.03x	TL-8.96 Billion
2025	-25.56%	-40.63%	0.28x	2.27x	TL-20.46 Billion

Industry Comparison

This section compares Zorlu Enerji Elektrik Uretim AS's net assets metrics with peer companies in the Utilities - Renewable industry.

Industry Context

Industry: Utilities - Renewable
Average net assets among peers: $4,372,803,613
Average return on equity (ROE) among peers: -0.17%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Zorlu Enerji Elektrik Uretim AS (ZOREN)	TL61.08 Billion	3.37%	1.21x	$260.93 Million
Akfen Yenilenebilir Enerji A.S. (AKFYE)	$15.26 Billion	-10.33%	1.21x	$633.84 Million
Aksu Enerji ve Ticaret AS (AKSUE)	$23.97 Million	-37.72%	1.68x	$61.38 Million
Aydem Yenilenebilir Enerji AS (AYDEM)	$9.80 Billion	-1.23%	1.30x	$359.07 Million
Ayen Enerji AS (AYEN)	$260.56 Million	15.68%	0.89x	$195.16 Million
Biotrend Cevre ve Enerji Yatirimlari AS (BIOEN)	$553.30 Million	0.68%	2.30x	$192.73 Million
Consus Enerji Isletmeciligi ve Hizmetleri AS (CONSE)	$857.98 Million	5.48%	1.21x	$40.75 Million
Esenboga Elektrik Uretim AS (ESEN)	$31.48 Million	2.98%	2.51x	$136.96 Million
Galata Wind Enerji Anonim Sirket (GWIND)	$14.13 Billion	5.98%	0.44x	$293.42 Million
Hun Yenilenebilir Enerji Uretim AS (HUNER)	$1.96 Billion	8.69%	1.14x	$76.15 Million
Kartal Yenilenebilir Enerji Uretim AS (KARYE)	$843.94 Million	8.09%	0.66x	$33.43 Million

About Zorlu Enerji Elektrik Uretim AS

IS:ZOREN Turkey Utilities - Renewable

Market Cap

$260.93 Million

TL11.65 Billion TRY

Market Cap Rank

#15368 Global

#157 in Turkey

Share Price

TL2.33

Change (1 day)

-1.27%

52-Week Range

TL2.33 - TL4.23

All Time High

TL7.01