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Enlight Renewable Energy
(TASE:ENLT)
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Rating:56Neutral
Price Target:
26,440.00
▼(-3.43% Downside)
Action:Reiterated
Date:08/08/26
The score is held back primarily by financial risk factors—high leverage and persistently large negative free cash flow—despite solid reported revenue/margin performance. The earnings call is a key positive with raised guidance and strong execution/liquidity messaging, but valuation is demanding (very high P/E) and technical signals are mixed with weaker near-term momentum.
Positive Factors
Revenue and EBITDA growth with raised guidance
Sustained double-digit top-line and EBITDA expansion, and management raising 2026 guidance, signals scalable project execution and improving core earnings power. This supports persistent cash-flow potential and underpins longer-term ability to fund builds and service debt as the asset base matures.
Negative Factors
Elevated leverage and refinancing sensitivity
A high debt-to-equity ratio (~2.53x) leaves the company sensitive to interest-rate moves and refinancing market conditions. Over a multi-month horizon this reduces financial flexibility, raises funding cost risks, and can constrain the firm's ability to pursue opportunistic investments or withstand project delays.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and EBITDA growth with raised guidance
Sustained double-digit top-line and EBITDA expansion, and management raising 2026 guidance, signals scalable project execution and improving core earnings power. This supports persistent cash-flow potential and underpins longer-term ability to fund builds and service debt as the asset base matures.
Read all positive factors
Enlight Renewable Energy (ENLT) vs. iShares MSCI Israel ETF (EIS)
Market Cap
₪35.78B
Dividend YieldN/A
Average Volume (3M)372.96K
Price to Earnings (P/E)176.0
Beta (1Y)1.32
Revenue Growth18.19%
EPS Growth-39.71%
CountryIL
Employees406
SectorGeneral
Sector StrengthN/A
IndustryRenewable Utilities
Share Statistics
EPS (TTM)0.68
Shares Outstanding139,808,670
10 Day Avg. Volume460,954
30 Day Avg. Volume372,960
Financial Highlights & Ratios
PEG Ratio0.51
Price to Book (P/B)10.77
Price to Sales (P/S)33.87
P/FCF Ratio-10.33
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₪25,848.71Price Target Upside-5.59% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Enlight Renewable Energy Business Overview & Revenue Model
Company Description
Enlight Renewable Energy Ltd, an enterprise established in 1981 and headquartered in Rosh Ha'ayin, Israel, actively participates in the clean energy sector across the United States, Europe, and its home country. The company manages the full spectr...
How the Company Makes Money
ENLT primarily makes money by owning interests in renewable energy and storage projects that generate recurring cash flows once operational. Its main revenue stream is the sale of electricity produced by its solar and wind facilities, typically un...
Enlight Renewable Energy Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 24, 2026
Earnings Call Sentiment Positive
The call emphasized strong operational execution, record financial results and robust cash generation, supported by meaningful portfolio growth, large-scale financing (CO Bar), expanded geographic footprint and raised 2026 guidance. Challenges noted were margin dilution from trading activity, higher costs related to project scale-up, timing shifts for some projects into 2029 and regulatory/supply uncertainties. Management presented ample liquidity and a plan to fund remaining investments.Positive Updates
Revenue and Profit Growth
Total revenues and income rose 55% year-over-year to $210 million (Q2 '26 vs Q2 '25). Adjusted EBITDA grew 67% to $160 million. Net profit increased to $31 million from $6 million in Q2 '25.
Negative Updates
Margin Dilution from Trading Activity
Revenue growth was partly driven by expanded electricity trading in Israel, which increased top-line revenues but carries a lower EBITDA margin, contributing to guidance showing revenue growth outpacing EBITDA growth.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue and Profit Growth
Total revenues and income rose 55% year-over-year to $210 million (Q2 '26 vs Q2 '25). Adjusted EBITDA grew 67% to $160 million. Net profit increased to $31 million from $6 million in Q2 '25.
Read all positive updates
Company Guidance
Enlight raised its 2026 guidance — revenue guidance to $790–$820 million (midpoint $805M, a 4.5% uplift at midpoint) and adjusted EBITDA to $565–$585 million (midpoint $575M, a 3.6% uplift at midpoint) — supported by strong Q2 results (Q2 revenue $210M, +55% YoY; Q2 adjusted EBITDA $160M, +67% YoY; Q2 net income $31M) and H1 performance (H1 adjusted EBITDA $314M, H1 operating cash flow $185M; Q2 operating cash flow $84M with an approximate run rate of $100M/quarter). The company cited robust liquidity and financing capacity (topco cash $877M, $287M at subsidiaries, $1.2B total liquidity to support ~$700M remaining equity needs, $550M credit facility with $418M available, ~$1.7B LC/Surety facility with ~$1.1B available), $1.3B of CapEx invested in H1, ~69% of required project financing already secured, and a development pipeline and execution cadence that include a 43.1 factored GW total portfolio (12.3 factored GW mature, >90% of mature expected operating or under construction by year-end), ~7+ factored GW expected under construction by end‑2026, and 17.9 factored GW safe‑harbored in the U.S. (≈62% of ~29 FGW U.S. portfolio).Enlight Renewable Energy Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
46
Neutral
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 585.55M | 528.89M | 398.80M | 261.14M | 192.17M | 330.88M |
| Gross Profit | 327.39M | 221.14M | 209.21M | 208.35M | 109.47M | 194.35M |
| EBITDA | 509.47M | 408.89M | 292.68M | 255.01M | 123.06M | 81.26M |
| Net Income | 89.63M | 143.00M | 44.21M | 70.92M | 25.23M | 11.22M |
Balance Sheet | ||||||
| Total Assets | 10.38B | 8.63B | 20.17B | 16.68B | 12.18B | 8.80B |
| Cash, Cash Equivalents and Short-Term Investments | 1.16B | 938.12M | 1.41B | 1.47B | 799.03M | 947.95M |
| Total Debt | 6.37B | 5.38B | 11.34B | 9.72B | 7.45B | 5.65B |
| Total Liabilities | 7.96B | 6.66B | 14.93B | 11.51B | 8.56B | 6.45B |
| Stockholders Equity | 2.15B | 1.66B | 4.29B | 4.21B | 2.77B | 1.65B |
Cash Flow | ||||||
| Free Cash Flow | -2.24B | -1.73B | -717.43M | -582.61M | -548.35M | -1.30B |
| Operating Cash Flow | 299.14M | 227.95M | 196.15M | 149.62M | 90.32M | 161.53M |
| Investing Cash Flow | -2.99B | -2.36B | -3.60B | -756.63M | -819.49M | -2.00B |
| Financing Cash Flow | 3.06B | 2.25B | 2.76B | 855.30M | 684.31M | 2.34B |
Enlight Renewable Energy Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₪12.15B | 44.37 | ― | 2.25% | 6.62% | -12.77% | |
56 Neutral | ₪35.78B | 176.03 | 2.17% | ― | 18.19% | -39.71% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₪5.43B | -32.29 | ― | ― | -16.92% | -524.11% | |
43 Neutral | ₪7.54B | -56.36 | ― | ― | ― | ― | |
41 Neutral | ₪832.23M | -11.10 | -1.46% | ― | 1.15% | -446.10% | |
41 Neutral | ₪13.87B | -30.93 | ― | ― | 53.63% | -676.31% |
* General Sector Average
IL:ENLT
Enlight Renewable Energy
25,670.00
17,259.00
205.20%
IL:ELLO
Ellomay
6,121.00
-25.00
-0.41%
IL:ENRG
Energix
2,124.00
839.20
65.32%
IL:DORL
Doral Energy
6,505.00
5,007.00
334.25%
IL:MSKE
Meshek Energy
986.20
532.20
117.22%
IL:ECNR
Econergy
6,908.00
3,200.00
86.30%
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.