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Kenon
(NYSE:KEN)
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Rating:51Neutral
Price Target:
$70.00
▲(5.01% Upside)
Action:Reiterated
Date:09/10/26
The score is held back primarily by weaker fundamentals: negative recent free cash flow combined with increased leverage raises financial risk despite decent operating profitability. Technicals add mild support (positive MACD and price above short-term averages), while valuation is mixed—an attractive dividend yield is offset by a relatively high P/E.
Positive Factors
Strong OPC operating growth
Rapid growth in OPC revenue and EBITDA across Israel and the U.S. indicates improving scale, customer demand, and contribution from expanded generation assets. If sustained, this broader operating base can strengthen Kenon’s recurring earnings capacity and support future investment.
Negative Factors
Elevated leverage
The sharp increase in leverage reduces financial flexibility and makes Kenon and its operating investments more sensitive to weaker power-market performance, refinancing conditions, or asset underperformance. Higher debt also raises the importance of maintaining reliable cash distributions.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong OPC operating growth
Rapid growth in OPC revenue and EBITDA across Israel and the U.S. indicates improving scale, customer demand, and contribution from expanded generation assets. If sustained, this broader operating base can strengthen Kenon’s recurring earnings capacity and support future investment.
Read all positive factors
Kenon (KEN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.39B
Dividend Yield5.84%
Average Volume (3M)18.61K
Price to Earnings (P/E)29.3
Beta (1Y)0.69
Revenue Growth53.35%
EPS Growth-75.44%
CountryUS
Employees348
SectorUtilities
Sector Strength65
IndustryIndependent Power Producers
Share Statistics
EPS (TTM)2.25
Shares Outstanding52,108,400
10 Day Avg. Volume15,887
30 Day Avg. Volume18,615
Financial Highlights & Ratios
PEG Ratio-0.59
Price to Book (P/B)2.18
Price to Sales (P/S)3.97
P/FCF Ratio20.66
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Kenon Business Overview & Revenue Model
Company Description
Kenon Holdings Ltd. is a global enterprise that, through its various subsidiaries, owns, develops, and manages power generation facilities across Israel, the United States, and other international markets. The company's operations are divided into...
How the Company Makes Money
Kenon makes money mainly through returns generated by its equity stakes in portfolio companies rather than through operating revenue from selling goods or services itself. Key sources of economic return typically include: (1) Dividends and distrib...
Kenon Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
48
Neutral
Cash Flow
39
Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.19B | 871.93M | 751.30M | 691.80M | 573.96M | 487.76M |
| Gross Profit | 220.82M | 146.82M | 143.79M | 119.46M | 99.84M | 98.35M |
| EBITDA | 382.95M | 318.95M | 272.42M | 224.40M | 192.68M | 989.21M |
| Net Income | 120.27M | 66.27M | 597.67M | -235.98M | 312.65M | 930.27M |
Balance Sheet | ||||||
| Total Assets | 7.25B | 5.38B | 4.21B | 4.11B | 3.77B | 4.07B |
| Cash, Cash Equivalents and Short-Term Investments | 1.77B | 1.59B | 1.16B | 912.63M | 926.00M | 474.77M |
| Total Debt | 3.15B | 1.78B | 1.28B | 1.59B | 1.20B | 1.24B |
| Total Liabilities | 3.85B | 2.20B | 1.55B | 2.04B | 1.48B | 1.79B |
| Stockholders Equity | 1.56B | 1.59B | 1.61B | 1.20B | 1.60B | 1.79B |
Cash Flow | ||||||
| Free Cash Flow | -258.61M | 167.39M | -75.59M | -55.33M | 501.00M | 7.84M |
| Operating Cash Flow | 237.79M | 283.79M | 265.08M | 276.79M | 771.00M | 240.53M |
| Investing Cash Flow | -865.95M | -361.95M | 135.85M | -432.24M | -203.00M | -205.45M |
| Financing Cash Flow | 1.34B | 505.76M | -84.08M | 324.58M | -494.00M | 146.58M |
Kenon Technical Analysis
Negative
66.66
Price Trends
66.80
Negative
73.95
Negative
72.51
Negative
Market Momentum
0.01
Negative
47.67
Neutral
42.66
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KEN, the sentiment is Negative. The current price of 66.66 is above the 20-day moving average (MA) of 66.43, below the 50-day MA of 66.80, and below the 200-day MA of 72.51, indicating a bearish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 47.67 is Neutral, neither overbought nor oversold. The STOCH value of 42.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KEN.
Kenon Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $5.02B | 8.46 | 15.56% | 0.66% | 28.77% | 25.20% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
61 Neutral | $2.50B | 20.97 | 9.00% | ― | 14.06% | 11.99% | |
59 Neutral | $2.07B | 15.81 | 8.34% | 4.07% | 4.41% | 19.03% | |
56 Neutral | $3.11B | 13.23 | 8.29% | 5.35% | -1.82% | 24.01% | |
53 Neutral | $1.81B | 7.98 | 13.70% | 11.89% | 1.69% | ― | |
51 Neutral | $3.39B | 29.28 | 7.83% | 5.84% | 53.35% | -75.44% |
* Utilities Sector Average
KEN
Kenon
65.89
23.51
55.46%
AVA
Avista
36.79
2.46
7.17%
HE
Hawaiian Electric
10.38
-1.80
-14.78%
NWN
Northwest Gas
48.44
8.26
20.55%
PAM
Pampa Energia SA
86.53
27.30
46.09%
RNW
ReNew Energy Global
6.83
-0.89
-11.53%
Kenon Corporate Events
Kenon Subsidiary Secures $430 Million Financing for CPV Renewables
Sep 10, 2026
On September 10, 2026, Kenon’s energy subsidiary OPC Energy announced that CPV Renewables, majority owned through CPV Group, entered into a new $430 million financing agreement with Bank Leumi. The package comprises a $250 million term loan ...
Kenon Posts Strong Q2 2026 Results as OPC Expansion and Peru Award Boost Finances
Sep 8, 2026
In the second quarter of 2026, Kenon reported a sharp improvement in operating performance at subsidiary OPC, as net profit rose to $15 million from $1 million a year earlier and Adjusted EBITDA climbed to $131 million from $90 million, supported ...
Kenon Receives $93 Million as Peru Pays Final ICSID Arbitration Award
Aug 19, 2026
On August 19, 2026, Kenon announced it has received approximately $93 million following the Republic of Peru’s payment of an arbitration award issued by an ICSID tribunal in October 2023. The total payment by Peru amounted to about $203 mill...
Kenon’s OPC Energy Unveils NIS 600 Million Bond Offering on TASE
Aug 14, 2026
On August 14, 2026, Kenon’s subsidiary OPC Energy Ltd. announced a plan to issue NIS 600 million (about $202 million) in Series E bonds, with listing on the Tel Aviv Stock Exchange. The issuance structure includes a preliminary offering to q...
Kenon’s OPC Energy Posts Strong H1 2026 EBITDA After U.S. Portfolio Reclassification
Aug 12, 2026
On August 12, 2026, Kenon disclosed that its subsidiary OPC Energy filed its Hebrew-language periodic report for the six- and three-month periods ended June 30, 2026 with the Israeli Securities Authority and the Tel Aviv Stock Exchange. Kenon furn...
Kenon Prevails in Peru ICSID Annulment Bid as Arbitration Award Swells to $200 Million
Jun 29, 2026
On June 29, 2026, Kenon Holdings announced that an ad hoc committee of the International Centre for Settlement of Investment Disputes ruled entirely in its favor in Peru’s bid to partially annul an October 2023 arbitration award. The committ...
Kenon’s OPC Energy Wins Tariff Approval for 850 MW Hadera Power Plant Expansion
Jun 22, 2026
On June 19, 2026, Kenon’s subsidiary OPC Energy announced it has received tariff approval from the Israeli Electricity Authority for its Hadera expansion project, an approximately 850 MW combined-cycle natural gas power plant to be built adj...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.