# Kenon Holdings Ltd. (KEN) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Utilities / Electric Utilities. Price $69.18, market value $3.6 billion.

## Valuation
- **P/E (trailing): 44.9×** (5-yr avg 14.3×, 3-yr avg 26.2×). Kenon Holdings Ltd. trades at 44.9× trailing earnings, well above its own five-year average of 14.3×: investors are paying up relative to the company's past. The Utilities median in the September 2026 study was 21.2×.
- **Price / sales: 3.6×**. Each dollar of revenue is priced at 3.6×.
- **Price / book: 2.4×**. The shares trade at 2.4× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 11.1×**. Enterprise value is 11.1× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: -0.7%** (5-yr avg 7.7%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 2.2%**. The inverse of the P/E: 2.2% of the price is earned each year.

## Profitability
- **Gross margin: 16.6%**. Kenon Holdings Ltd. keeps 16.6% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: 5.7%**. 5.7% of revenue is left after running the business.
- **Net margin: 17.0%**. 17.0% of each dollar of sales reaches the bottom line.
- **Return on equity: 4.7%**. 4.7% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 1.4%**. Return on all capital, debt included, is 1.4%: close to or below the cost of capital, so growth may not create value.

## Growth
- **Revenue growth (1 yr): 16.1%** (3-yr 15.0%/yr, 5-yr 17.7%/yr). Revenue grew 16.1% over the last year, against 17.7% a year compounded over five years.
- **EPS growth (1 yr): -88.8%** (3-yr -39.7%/yr, 5-yr -33.0%/yr). Earnings per share fell 88.8%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -30.1%/yr**. Free cash flow has compounded at -30.1% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.52**. Debt is 0.52 times equity, moderate leverage.
- **Net debt / EBITDA: 0.5×**. It would take 0.5 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 0.7×**. Operating profit covers interest only 0.7×: fragile.

## Dividends
- **Dividend yield: 5.57%** ($3.85 per share, trailing). Kenon Holdings Ltd. yields 5.57%, an income-level yield.
- **Payout ratio: 181%**. The dividend exceeds earnings (181% payout), which is rarely sustainable outside REITs and one-off years.
- **Dividend growth (5 yr): 1.5%/yr** (1-yr -36.8%). The dividend has grown 1.5% a year over five years.

## Price and momentum
- **Total return (1 yr): 63.6%** (YTD 9.1%, 3-mo -7.9%). The shares are up 63.6% over twelve months including dividends.
- **From 52-week high: -27.9%** (66.7% above the low). Trading 28% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 56**. An RSI of 56 is neutral.
- **Beta (1 yr): 1.22** (volatility 41%). Beta of 1.22 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=KEN · Page: https://foliofundamentals.com/stocks/ken

Not investment advice.