Kenon Holdings Ltd. (KEN)
NYSE:KEN
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Kenon
(NYSE:KEN)
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Rating:63Neutral
Price Target:
$97.00
▲(37.59% Upside)
Action:Downgraded
Date: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
Consistent Revenue Growth
Sustained top-line growth over 2020–2025 demonstrates expanding scale across Kenon’s portfolio companies, improving the company’s ability to generate recurring cash flows and absorb shocks. A clear multi-year revenue trajectory supports long-term reinvestment, dividend capacity and strategic flexibility.
Negative Factors
Rising Leverage
A meaningful increase in nominal debt in 2025 tightens financial flexibility for a holding company reliant on investee cash and asset sales. Higher leverage raises refinancing and covenant risk, limits capacity for opportunistic investments or buybacks, and makes Kenon more sensitive to downturns at portfolio companies.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent Revenue Growth
Sustained top-line growth over 2020–2025 demonstrates expanding scale across Kenon’s portfolio companies, improving the company’s ability to generate recurring cash flows and absorb shocks. A clear multi-year revenue trajectory supports long-term reinvestment, dividend capacity and strategic flexibility.
Read all positive factors
Kenon (KEN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.47B
Dividend Yield7.33%
Average Volume (3M)29.43K
Price to Earnings (P/E)35.6
Beta (1Y)0.63
Revenue Growth16.06%
EPS Growth-88.65%
CountryUS
Employees344
SectorUtilities
Sector Strength65
IndustryIndependent Power Producers
Share Statistics
EPS (TTM)1.24
Shares Outstanding52,108,400
10 Day Avg. Volume30,170
30 Day Avg. Volume29,429
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 Cap1.07
Enterprise Value/Revenue5.47
Enterprise Value/Gross Profit32.50
Enterprise Value/Ebitda15.01
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., 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 | 143.79M | 119.46M | 99.84M | 98.35M |
| EBITDA | 318.95M | 272.42M | 224.40M | 192.68M | 989.21M |
| 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
Neutral
70.50
Price Trends
83.51
Positive
77.66
Positive
63.20
Positive
Market Momentum
0.75
Positive
48.69
Neutral
32.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KEN, the sentiment is Neutral. The current price of 70.5 is below the 20-day moving average (MA) of 88.58, below the 50-day MA of 83.51, and above the 200-day MA of 63.20, indicating a neutral trend. The MACD of 0.75 indicates Positive momentum. The RSI at 48.69 is Neutral, neither overbought nor oversold. The STOCH value of 32.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 | $3.40B | 8.98 | 7.65% | 5.10% | -1.47% | 7.23% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
65 Neutral | $4.67B | 12.77 | 12.46% | ― | 7.05% | -36.73% | |
63 Neutral | $4.47B | 35.61 | 4.36% | 7.33% | 16.06% | -88.65% | |
57 Neutral | $2.02B | 14.24 | 8.54% | ― | 30.87% | 121.64% | |
52 Neutral | $2.10B | 5.58 | 8.27% | 4.18% | 5.90% | 16.54% | |
51 Neutral | $2.37B | 21.03 | 8.09% | ― | -8.57% | ― |
* Utilities Sector Average
KEN
Kenon
85.79
54.21
171.68%
AVA
Avista
40.92
4.15
11.27%
HE
Hawaiian Electric
13.69
3.14
29.76%
NWN
Northwest Gas
49.82
11.06
28.54%
PAM
Pampa Energia SA
81.71
0.22
0.27%
RNW
ReNew Energy Global
5.85
-0.94
-13.84%
Kenon Corporate Events
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...
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...
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.