Kenon Holdings Ltd. (KEN)
NYSE:KEN
Want to see KEN full AI Analyst Report?
Top Page
Kenon
(NYSE:KEN)
Select Model
Select Model
Rating:56Neutral
Price Target:
$71.00
▲(0.71% Upside)
Action:Reiterated
Date:06/02/26
The score is driven mainly by moderate financial quality: improving TTM growth and positive earnings are offset by meaningful leverage and negative free cash flow. Technicals are supportive with a clear uptrend, while valuation is a headwind due to a very high P/E despite an attractive dividend yield.
Positive Factors
Long-term Tariff Visibility
Regulatory tariff approval for the Hadera expansion secures multi-decade revenue terms, materially improving project cashflow visibility. This foundation strengthens financing prospects, reduces merchant exposure for that capacity, and supports durable asset-level returns once operational.
Negative Factors
Meaningful Leverage
Debt-to-equity near 1.12 and rising debt diminish balance-sheet flexibility for a holding exposed to capital-intensive projects. Higher leverage increases sensitivity to interest rates and covenant constraints, limiting Kenon's capacity to fund growth or absorb operational shocks without dilutive or costly financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Long-term Tariff Visibility
Regulatory tariff approval for the Hadera expansion secures multi-decade revenue terms, materially improving project cashflow visibility. This foundation strengthens financing prospects, reduces merchant exposure for that capacity, and supports durable asset-level returns once operational.
Read all positive factors
Kenon (KEN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.45B
Dividend Yield7.33%
Average Volume (3M)29.17K
Price to Earnings (P/E)43.9
Beta (1Y)0.75
Revenue Growth32.31%
EPS Growth-86.36%
CountryUS
Employees344
SectorUtilities
Sector Strength65
IndustryIndependent Power Producers
Share Statistics
EPS (TTM)1.51
Shares Outstanding52,108,400
10 Day Avg. Volume32,316
30 Day Avg. Volume29,166
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 Cap1.20
Enterprise Value/Revenue4.13
Enterprise Value/Gross Profit24.88
Enterprise Value/Ebitda12.21
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 primarily through returns generated by its investment holdings rather than through direct sales of products or services. Key sources of potential earnings include: (1) dividends and other distributions received from portfolio com...
Kenon Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
55
Neutral
Cash Flow
48
Neutral
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.01B | 871.93M | 751.30M | 691.80M | 573.96M | 487.76M |
| Gross Profit | 166.82M | 146.82M | 143.79M | 119.46M | 99.84M | 98.35M |
| EBITDA | 339.95M | 318.95M | 272.42M | 224.40M | 192.68M | 989.21M |
| Net Income | 81.27M | 66.27M | 597.67M | -235.98M | 312.65M | 930.27M |
Balance Sheet | ||||||
| Total Assets | 6.40B | 5.38B | 4.21B | 4.11B | 3.77B | 4.07B |
| Cash, Cash Equivalents and Short-Term Investments | 1.87B | 1.59B | 1.16B | 912.63M | 926.00M | 474.77M |
| Total Debt | 2.46B | 1.78B | 1.28B | 1.59B | 1.20B | 1.24B |
| Total Liabilities | 3.08B | 2.20B | 1.55B | 2.04B | 1.48B | 1.79B |
| Stockholders Equity | 1.50B | 1.59B | 1.61B | 1.20B | 1.60B | 1.79B |
Cash Flow | ||||||
| Free Cash Flow | -25.61M | 167.39M | -75.59M | -55.33M | 501.00M | 7.84M |
| Operating Cash Flow | 203.79M | 283.79M | 265.08M | 276.79M | 771.00M | 240.53M |
| Investing Cash Flow | -336.95M | -361.95M | 135.85M | -432.24M | -203.00M | -205.45M |
| Financing Cash Flow | 874.76M | 505.76M | -84.08M | 324.58M | -494.00M | 146.58M |
Kenon Technical Analysis
Negative
70.50
Price Trends
83.20
Negative
80.11
Negative
66.79
Negative
Market Momentum
-5.14
Positive
30.60
Neutral
12.06
Positive
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 70.5 is below the 20-day moving average (MA) of 78.52, below the 50-day MA of 83.20, and above the 200-day MA of 66.79, indicating a bearish trend. The MACD of -5.14 indicates Positive momentum. The RSI at 30.60 is Neutral, neither overbought nor oversold. The STOCH value of 12.06 is Positive, 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 |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
64 Neutral | $3.28B | 15.76 | 7.65% | 5.10% | -1.47% | 7.23% | |
63 Neutral | $4.83B | 10.96 | 12.46% | ― | 14.53% | -12.33% | |
57 Neutral | $2.05B | 16.30 | 8.27% | 4.18% | 5.90% | 16.54% | |
57 Neutral | $2.34B | 20.94 | 8.54% | ― | 30.87% | 121.64% | |
56 Neutral | $3.45B | 43.85 | 5.44% | 7.33% | 32.31% | -86.36% | |
51 Neutral | $2.22B | 17.41 | 8.09% | ― | -8.57% | ― |
* Utilities Sector Average
KEN
Kenon
66.22
28.56
75.84%
AVA
Avista
39.71
3.05
8.32%
HE
Hawaiian Electric
12.88
2.08
19.26%
NWN
Northwest Gas
48.70
9.25
23.45%
PAM
Pampa Energia SA
84.53
12.30
17.03%
RNW
ReNew Energy Global
6.43
-0.32
-4.74%
Kenon Corporate Events
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...
Kenon’s OPC Secures $1.7 Billion Financing and EPC Deal for Hadera Power Plant Expansion
Jun 3, 2026
On June 3, 2026, Kenon said OPC’s project company, OPC Hadera Expansion Ltd., has secured a construction finance agreement with Bank Leumi for a NIS‑denominated loan equivalent to about $1.7 billion to fund an 850 MW combined‑cyc...
Kenon Posts Q1 2026 Growth at OPC, Returns $200 Million via Dividend
Jun 1, 2026
In the first quarter of 2026, Kenon’s main asset OPC reported revenue growth to $317 million from $183 million a year earlier, driven by higher electricity sales in Israel and the U.S., including the consolidation of CPV Shore and expansion ...
Kenon Sets Three-Year Collar on 2% Stake in OPC Energy to Boost Financial Flexibility
May 28, 2026
On May 28, 2026, Kenon Holdings announced it had entered into a collar transaction with an investment bank covering 6 million OPC Energy shares, about 2% of OPC’s outstanding stock and part of Kenon’s roughly 46% stake. The three-year ...
Kenon Subsidiary OPC Energy Secures Building Permit for 850 MW Hadera 2 Plant
May 21, 2026
On May 21, 2026, Kenon said its subsidiary OPC Energy’s project company Hadera 2 has received a building permit for the Hadera 2 project, an 850 MW natural gas-fired power plant planned next to OPC’s existing Hadera facility, after pay...
Kenon’s OPC Energy Posts Q1 2026 Earnings Growth and Advances Major Israeli Power Projects
May 20, 2026
On May 20, 2026, Kenon reported that its subsidiary OPC Energy Ltd. filed its Hebrew-language periodic report for the three months ended March 31, 2026 with the Israeli Securities Authority and the Tel Aviv Stock Exchange, alongside English conven...
Kenon Shareholders Re-Elect Board and Renew Capital Authorities at 2026 AGM
May 14, 2026
On May 14, 2026, Kenon Holdings Ltd. held its Annual General Meeting of Shareholders in Singapore, where investors voted on a slate of corporate governance and capital management proposals. All incumbent directors, including Chairman Cyril Pierre-...
Kenon Sets May 14, 2026 Annual Meeting and Releases 2025 Report and Proxy Materials
Apr 23, 2026
Kenon Holdings Ltd. has scheduled its Annual General Meeting of Shareholders for May 14, 2026 at 4 p.m. Singapore time at its offices in Millenia Tower, Singapore, and will circulate a proxy statement, AGM notice and its 2025 Singapore-law annual ...
Kenon Posts Strong 2025 Results as OPC Profit Surges and Capital Raises Boost Liquidity
Mar 30, 2026
On March 30, 2026, Kenon reported its full-year 2025 results, highlighting significantly stronger performance at OPC, with net profit rising to $132 million from $53 million and Adjusted EBITDA including associated companies climbing to $457 milli...
Kenon Files 2025 Annual Report on Form 20-F with U.S. SEC
Mar 30, 2026
On March 30, 2026, Kenon Holdings Ltd. announced that it had filed its Annual Report on Form 20-F for the year ended December 31, 2025 with the U.S. Securities and Exchange Commission. The filing makes Kenon’s 2025 audited financial statemen...
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.