Kenon Holdings Ltd. (KEN)
NYSE:KEN
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Kenon
(NYSE:KEN)
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Rating:63Neutral
Price Target:
$91.00
▲(29.08% Upside)
Action:DowngradedDate:04/04/26
The score is led by solid technical strength (clear uptrend with positive momentum) and a supportive dividend yield. It is held back primarily by mixed financial quality—volatile earnings and inconsistent free cash flow—and increased leverage in 2025, which elevates risk.
Positive Factors
Sustained Revenue Growth
Kenon’s consolidated revenue roughly doubled from $386.5M in 2020 to $871.9M in 2025, indicating durable top-line expansion across its energy investments. Persistent revenue growth supports scale, recurring cash flows and strengthens long‑term operating resilience of the portfolio.
Negative Factors
Rising Leverage
Leverage increased materially in 2025 and the balance sheet is moderately leveraged for the sector. Higher debt burdens reduce financial flexibility, increase interest cost sensitivity and leave less room to absorb cyclical earnings weakness or fund large projects without external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Growth
Kenon’s consolidated revenue roughly doubled from $386.5M in 2020 to $871.9M in 2025, indicating durable top-line expansion across its energy investments. Persistent revenue growth supports scale, recurring cash flows and strengthens long‑term operating resilience of the portfolio.
Read all positive factors
Kenon (KEN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.45B
Dividend Yield7.33%
Average Volume (3M)21.12K
Price to Earnings (P/E)52.2
Beta (1Y)0.79
Revenue Growth8.15%
EPS Growth180.89%
CountryUS
Employees344
SectorUtilities
Sector Strength65
IndustryIndependent Power Producers
Share Statistics
EPS (TTM)0.48
Shares Outstanding52,108,400
10 Day Avg. Volume21,370
30 Day Avg. Volume21,119
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 Cap1.05
Enterprise Value/Revenue5.36
Enterprise Value/Gross Profit32.49
Enterprise Value/Ebitda30.55
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., through its subsidiaries, operates as an owner, developer, and operator of power generation facilities in Israel, the United States, and internationally. It operates in four segments: OPC Israel, CPV Group, ZIM, and Quantum. T...
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
63
Positive
Balance Sheet
58
Neutral
Cash Flow
52
Neutral
| Breakdown | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 871.93M | 751.30M | 691.80M | 573.96M | 487.76M |
| Gross Profit | 146.82M | 135.99M | 106.55M | 93.82M | 93.83M |
| EBITDA | 318.95M | 141.28M | 125.68M | 62.78M | 64.00M |
| Net Income | 66.27M | 597.67M | -235.98M | 312.65M | 930.27M |
Balance Sheet | |||||
| Total Assets | 5.38B | 4.21B | 4.11B | 3.77B | 4.07B |
| Cash, Cash Equivalents and Short-Term Investments | 1.59B | 1.16B | 912.63M | 926.00M | 474.77M |
| Total Debt | 1.78B | 1.28B | 1.59B | 1.20B | 1.24B |
| Total Liabilities | 2.20B | 1.55B | 2.04B | 1.48B | 1.79B |
| Stockholders Equity | 1.59B | 1.61B | 1.20B | 1.60B | 1.79B |
Cash Flow | |||||
| Free Cash Flow | 167.39M | -75.59M | -55.33M | 501.00M | 7.84M |
| Operating Cash Flow | 283.79M | 265.08M | 276.79M | 771.00M | 240.53M |
| Investing Cash Flow | -361.95M | 135.85M | -432.24M | -203.00M | -205.45M |
| Financing Cash Flow | 505.76M | -84.08M | 324.58M | -494.00M | 146.58M |
Kenon Technical Analysis
Positive
70.50
Price Trends
79.58
Positive
71.07
Positive
58.33
Positive
Market Momentum
1.00
Positive
59.14
Neutral
72.68
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KEN, the sentiment is Positive. The current price of 70.5 is below the 20-day moving average (MA) of 82.35, below the 50-day MA of 79.58, and above the 200-day MA of 58.33, indicating a bullish trend. The MACD of 1.00 indicates Positive momentum. The RSI at 59.14 is Neutral, neither overbought nor oversold. The STOCH value of 72.68 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for KEN.
Kenon Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $2.27B | 16.85 | 7.78% | 4.18% | 11.27% | 20.04% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
65 Neutral | $5.08B | 12.10 | 10.99% | ― | 6.37% | 7.35% | |
63 Neutral | $4.45B | 52.17 | 4.36% | 7.33% | 8.15% | 180.89% | |
55 Neutral | $1.73B | -231.49 | 10.05% | ― | 42.09% | 219.69% | |
54 Neutral | $3.40B | 16.17 | 7.25% | 5.10% | 2.14% | -6.51% | |
51 Neutral | $2.64B | 16.81 | 8.00% | ― | -16.62% | ― |
* Utilities Sector Average
KEN
Kenon
85.48
58.48
216.59%
AVA
Avista
41.34
3.69
9.80%
HE
Hawaiian Electric
15.30
5.58
57.41%
NWN
Northwest Gas
54.66
16.35
42.67%
PAM
Pampa Energia SA
89.25
24.59
38.03%
RNW
ReNew Energy Global
4.75
-0.89
-15.78%
Kenon Corporate Events
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...
Kenon’s OPC Energy Plans NIS 800 Million Private Share Placement in Israel
Mar 13, 2026
On March 13, 2026, OPC Energy Ltd., a subsidiary of Kenon Holdings, announced a private placement of 8 million new ordinary shares to institutional investors in Israel, raising about NIS 800 million (approximately $257 million) at NIS 100 per shar...
Kenon’s OPC Energy Posts Strong 2025 Results as Annual Report Filed in Israel
Mar 12, 2026
On March 12, 2026, Kenon reported that its subsidiary OPC Energy filed its Hebrew-language annual report for the year ended December 31, 2025 with the Israeli Securities Authority and the Tel Aviv Stock Exchange, and furnished English convenience ...
Kenon’s OPC Unit Moves to Fully Consolidate Maryland Power Plant in Asset Swap
Mar 3, 2026
On March 3, 2026, Kenon said OPC’s 70%-owned unit CPV agreed to swap its 10% interest in CPV Three Rivers, which owns a 1,258 MW plant in Illinois, plus a small cash payment, for its partner’s 25% stake in CPV Maryland, owner of a 745 ...
Kenon’s OPC Energy Secures GE Vernova Equipment Deal for Hadera 2 Power Project
Mar 2, 2026
On March 2, 2026, Kenon said its subsidiary OPC Energy’s project company Hadera 2 signed an agreement with GE Vernova to supply the main equipment for the Hadera 2 natural gas-fired power plant planned next to OPC’s existing Hadera sit...
Kenon Subsidiary OPC Energy Completes Full Takeover of Texas Basin Ranch Power Project
Feb 3, 2026
On February 3, 2026, Kenon Holdings announced that its subsidiary OPC Energy’s 70%-owned unit, CPV Group LP, has completed the previously disclosed acquisition of the remaining 30% stake in the Basin Ranch Project, a 1.35 GW gas-fired power ...
Kenon’s OPC Unit Secures Full Ownership of 725 MW CPV Shore Plant in New Jersey
Jan 8, 2026
On January 8, 2026, Kenon Holdings announced that its subsidiary OPC Energy’s 70%-owned unit, CPV Group LP, has completed the previously disclosed acquisition of the remaining interest in the CPV Shore power plant, a 725 MW natural gas–...
Kenon’s OPC Unit Secures Extra Bank Leumi Funding for CPV’s Remaining 30% Buyout of Texas Basin Ranch
Jan 8, 2026
On January 8, 2026, Kenon Holdings said its power subsidiary OPC Energy reported that majority-owned CPV Group LP has amended its existing $300 million financing agreement with Bank Leumi to add a further $130 million in funding. The additional fa...
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.