Enlight Renewable Energy (IL:ENLT)
TASE:ENLT
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Enlight Renewable Energy
(TASE:ENLT)
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Rating:61Neutral
Price Target:
27,588.00
▲(13.53% Upside)
Action:Reiterated
Date:05/09/26
The score is driven primarily by mixed fundamentals: strong operating performance is outweighed by high leverage and weak free-cash-flow generation. Technicals are supportive with a clear uptrend and healthy (not overbought) momentum, while valuation is a key risk due to the very high P/E. Earnings-call tone and guidance were constructive with reaffirmed targets and strong pipeline/liquidity, partially offset by timing and cost headwinds.
Positive Factors
Operating profitability
Consistently strong gross and operating margins alongside improved TTM revenue indicate the core generation and trading business converts scale into durable operating cash flow. Structural margin strength supports long-term project returns and underwriting of new assets, making operating performance a persistent competitive advantage even as below-the-line items vary.
Negative Factors
High leverage
Elevated debt-to-equity increases financial fragility for a capital-intensive renewable utility. High leverage raises interest and refinancing risk, limits balance-sheet flexibility for opportunistic investments, and magnifies the impact of any revenue or timing setbacks, constraining the firm's ability to self-fund expansion without further external capital.
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Positive Factors
Negative Factors
Operating profitability
Consistently strong gross and operating margins alongside improved TTM revenue indicate the core generation and trading business converts scale into durable operating cash flow. Structural margin strength supports long-term project returns and underwriting of new assets, making operating performance a persistent competitive advantage even as below-the-line items vary.
Read all positive factors
Enlight Renewable Energy (ENLT) vs. iShares MSCI Israel ETF (EIS)
Market Cap
₪34.61B
Dividend YieldN/A
Average Volume (3M)372.96K
Price to Earnings (P/E)164.2
Beta (1Y)1.25
Revenue Growth21.13%
EPS Growth-58.76%
CountryIL
Employees360
SectorUtilities
Sector Strength65
IndustryRenewable Utilities
Share Statistics
EPS (TTM)0.75
Shares Outstanding139,320,820
10 Day Avg. Volume460,954
30 Day Avg. Volume372,960
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)3.38
Price to Sales (P/S)10.63
P/FCF Ratio-3.24
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₪22,408.78Price Target Upside-7.78% Downside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Enlight Renewable Energy Business Overview & Revenue Model
Company Description
Enlight Renewable Energy Ltd operates in the field of renewable energy in the United States, Europe, and Israel. The company develops, designs, constructs, finances, owns, and operates solar and wind energy projects. Its renewable energy total por...
How the Company Makes Money
Enlight primarily makes money by generating and selling electricity produced by its solar and wind power plants. Revenue is typically earned under long-term offtake arrangements (such as power purchase agreements) or through market-based power sal...
Enlight Renewable Energy Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call conveyed a predominantly positive operational and financial momentum: strong organic revenue (54% YoY) and adjusted EBITDA growth, meaningful U.S. scaling (U.S. now 37% of revenues), significant portfolio expansion (>41 factored GW) and solid liquidity/capital raises. Management reaffirmed full-year 2026 guidance and a credible path to >$2.1 billion ARR by end-2028. Offsetting items included lower reported net income versus a prior year distorted by one-time asset sales, higher depreciation/financial costs from new projects, modest project timing shifts (pushing some 2027 activity into early 2028), and interconnection/safe-harbor constraints that limit near-term conversion of system-impact-study completions. Overall, the positive execution, pipeline expansion, financing strength and guidance reaffirmation materially outweigh the timing and comparability headwinds.Positive Updates
Strong Top-Line Growth
Total revenues and income increased 54% year-over-year to $200 million in Q1 2026 (from $130 million in Q1 2025), driven by new U.S. projects, strong wind generation in Israel and Europe, increased electricity trading activity, and favorable FX movements.
Negative Updates
Net Income Decline Year-Over-Year
Reported net income for Q1 2026 was $38 million versus $102 million in Q1 2025 (or $21 million when excluding the prior-year Sunlight cluster sale contribution), reflecting one-time sale impacts in the comparable period and higher ongoing non-cash charges.
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Q1-2026 Updates
Positive
Negative
Strong Top-Line Growth
Total revenues and income increased 54% year-over-year to $200 million in Q1 2026 (from $130 million in Q1 2025), driven by new U.S. projects, strong wind generation in Israel and Europe, increased electricity trading activity, and favorable FX movements.
Read all positive updates
Company Guidance
Enlight reaffirmed full‑year 2026 guidance of $755–$785 million in revenues and income and $545–$565 million of adjusted EBITDA, and expects roughly 7 factored gigawatts to be under construction in 2026 with over 90% of its mature portfolio operating or under construction by year‑end. Management reiterated a clear path to a >$2.1 billion annual revenue run‑rate by the end of 2028 (cited range $2.1–$2.3B), supported by a total portfolio of >41 factored GW (up 8% sequentially), about 20 factored GW in the U.S. that have passed system impact studies, and a plan to safe‑harbor 15–17 factored GW by 2030 (with optional 2–4 GW available to safe‑harbor by end‑June). Q1 results that underpin the guidance included $200M of revenues (up 54% YoY) and $154M of adjusted EBITDA (up ~58% YoY excluding the Sunlight sell‑down), and management highlighted balance‑sheet capacity after raising ~$740M, $709M of TopCo cash, a $525M credit facility ($360M available) and ~$1.6B of LC/surety capacity (≈$1.0B available).Enlight Renewable Energy Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
45
Neutral
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 815.01M | 1.69B | 398.80M | 261.14M | 645.69M | 330.88M |
| Gross Profit | 446.87M | 704.65M | 209.21M | 142.55M | 111.10M | 194.35M |
| EBITDA | 671.86M | 1.30B | 292.68M | 255.01M | 123.06M | 81.26M |
| Net Income | 93.84M | 455.66M | 44.21M | 70.92M | 24.73M | 11.22M |
Balance Sheet | ||||||
| Total Assets | 9.31B | 27.50B | 20.17B | 16.68B | 12.18B | 8.80B |
| Cash, Cash Equivalents and Short-Term Investments | 979.33M | 2.99B | 1.41B | 1.47B | 799.03M | 947.95M |
| Total Debt | 5.37B | 17.14B | 11.34B | 9.72B | 7.45B | 5.65B |
| Total Liabilities | 6.88B | 21.23B | 14.93B | 11.51B | 8.56B | 6.45B |
| Stockholders Equity | 2.12B | 5.30B | 4.29B | 4.21B | 2.77B | 1.65B |
Cash Flow | ||||||
| Free Cash Flow | -2.65B | -5.53B | 193.07M | -582.61M | -548.35M | -1.30B |
| Operating Cash Flow | 415.15M | 726.35M | 193.07M | 149.62M | 90.32M | 168.43M |
| Investing Cash Flow | -5.06B | -7.53B | -3.60B | -798.96M | -819.49M | -2.08B |
| Financing Cash Flow | 4.03B | 7.18B | 2.76B | 855.30M | 684.31M | 2.44B |
Enlight Renewable Energy Technical Analysis
Positive
24300.00
Price Trends
24096.80
Positive
20901.90
Positive
15745.23
Positive
Market Momentum
393.47
Positive
48.21
Neutral
14.43
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IL:ENLT, the sentiment is Positive. The current price of 24300 is below the 20-day moving average (MA) of 26086.00, above the 50-day MA of 24096.80, and above the 200-day MA of 15745.23, indicating a neutral trend. The MACD of 393.47 indicates Positive momentum. The RSI at 48.21 is Neutral, neither overbought nor oversold. The STOCH value of 14.43 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IL:ENLT.
Enlight Renewable Energy 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% | |
61 Neutral | ₪34.61B | 164.23 | 2.17% | ― | 21.13% | -58.76% | |
58 Neutral | ₪12.15B | 47.49 | ― | 2.25% | 6.62% | -12.77% | |
54 Neutral | ₪4.07B | -44.30 | ― | ― | 22.46% | -99.71% | |
53 Neutral | ₪10.39B | -191.27 | ― | ― | ― | ― | |
52 Neutral | ₪15.74B | -15.38 | ― | ― | 62.22% | -2042.11% | |
42 Neutral | ₪910.24M | -121.63 | -1.46% | ― | 2.99% | 71.44% |
* Utilities Sector Average
IL:ENLT
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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.