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KENON HOLDINGS LTD (KEN) Stock Fundamental Analysis

NYSE:KEN - New York Stock Exchange, Inc. - SG9999012629 - Common Stock - Currency: USD

31.93  -0.08 (-0.25%)

Fundamental Rating

4

KEN gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 21 industry peers in the Independent Power and Renewable Electricity Producers industry. KEN has an average financial health and profitability rating. KEN has a expensive valuation and it also scores bad on growth.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year KEN was profitable.
In the past year KEN had a positive cash flow from operations.
In multiple years KEN reported negative net income over the last 5 years.
Each year in the past 5 years KEN had a positive operating cash flow.
KEN Yearly Net Income VS EBIT VS OCF VS FCFKEN Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200M -200M 400M -400M 600M 800M

1.2 Ratios

The Return On Assets of KEN (4.14%) is better than 80.00% of its industry peers.
The Return On Equity of KEN (14.61%) is better than 85.00% of its industry peers.
Looking at the Return On Invested Capital, with a value of 1.41%, KEN is in line with its industry, outperforming 50.00% of the companies in the same industry.
KEN had an Average Return On Invested Capital over the past 3 years of 0.56%. This is below the industry average of 4.30%.
The 3 year average ROIC (0.56%) for KEN is below the current ROIC(1.41%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 4.14%
ROE 14.61%
ROIC 1.41%
ROA(3y)8.53%
ROA(5y)9.02%
ROE(3y)17.27%
ROE(5y)19.44%
ROIC(3y)0.56%
ROIC(5y)1.34%
KEN Yearly ROA, ROE, ROICKEN Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 -20 40 -40 60 -60

1.3 Margins

Looking at the Profit Margin, with a value of 22.89%, KEN belongs to the top of the industry, outperforming 90.00% of the companies in the same industry.
The Operating Margin of KEN (8.15%) is worse than 60.00% of its industry peers.
In the last couple of years the Operating Margin of KEN has declined.
KEN has a Gross Margin of 18.91%. This is amonst the worse of the industry: KEN underperforms 80.00% of its industry peers.
KEN's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 8.15%
PM (TTM) 22.89%
GM 18.91%
OM growth 3Y-12.26%
OM growth 5Y-11.9%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-6.99%
GM growth 5Y-4.1%
KEN Yearly Profit, Operating, Gross MarginsKEN Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 100 -100

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5

2. Health

2.1 Basic Checks

KEN has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, KEN has less shares outstanding
Compared to 5 years ago, KEN has less shares outstanding
The debt/assets ratio for KEN is higher compared to a year ago.
KEN Yearly Shares OutstandingKEN Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M 40M 50M
KEN Yearly Total Debt VS Total AssetsKEN Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B 4B 5B

2.2 Solvency

Based on the Altman-Z score of 1.15, we must say that KEN is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of KEN (1.15) is better than 75.00% of its industry peers.
A Debt/Equity ratio of 1.17 is on the high side and indicates that KEN has dependencies on debt financing.
KEN has a Debt to Equity ratio of 1.17. This is in the better half of the industry: KEN outperforms 75.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.17
Debt/FCF N/A
Altman-Z 1.15
ROIC/WACC0.22
WACC6.35%
KEN Yearly LT Debt VS Equity VS FCFKEN Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 1B 2B

2.3 Liquidity

KEN has a Current Ratio of 3.78. This indicates that KEN is financially healthy and has no problem in meeting its short term obligations.
KEN's Current ratio of 3.78 is amongst the best of the industry. KEN outperforms 90.00% of its industry peers.
KEN has a Quick Ratio of 3.78. This indicates that KEN is financially healthy and has no problem in meeting its short term obligations.
KEN has a better Quick ratio (3.78) than 95.00% of its industry peers.
Industry RankSector Rank
Current Ratio 3.78
Quick Ratio 3.78
KEN Yearly Current Assets VS Current LiabilitesKEN Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B

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3

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 115.98% over the past year.
Looking at the last year, KEN shows a quite strong growth in Revenue. The Revenue has grown by 8.28% in the last year.
KEN shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 13.70% yearly.
EPS 1Y (TTM)115.98%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%121.15%
Revenue 1Y (TTM)8.28%
Revenue growth 3Y21.42%
Revenue growth 5Y13.7%
Sales Q2Q%3.49%

3.2 Future

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
KEN Yearly Revenue VS EstimatesKEN Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B
KEN Yearly EPS VS EstimatesKEN Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 1 2 3

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2

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 9.92, the valuation of KEN can be described as reasonable.
Based on the Price/Earnings ratio, KEN is valued cheaper than 90.00% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 28.64. KEN is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 9.92
Fwd PE N/A
KEN Price Earnings VS Forward Price EarningsKEN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 0 0 0 0

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of KEN is on the same level as its industry peers.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 14.08
KEN Per share dataKEN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15 20

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A

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5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 11.52%, KEN is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 6.37, KEN pays a better dividend. On top of this KEN pays more dividend than 95.00% of the companies listed in the same industry.
KEN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.28.
Industry RankSector Rank
Dividend Yield 11.52%

5.2 History

On average, the dividend of KEN grows each year by 8.67%, which is quite nice.
KEN has been paying a dividend for over 5 years, so it has already some track record.
The dividend of KEN decreased recently.
Dividend Growth(5Y)8.67%
Div Incr Years1
Div Non Decr Years1
KEN Yearly Dividends per shareKEN Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 5 10 15

5.3 Sustainability

118.43% of the earnings are spent on dividend by KEN. This is not a sustainable payout ratio.
DP118.43%
EPS Next 2YN/A
EPS Next 3YN/A
KEN Yearly Income VS Free CF VS DividendKEN Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200M -200M 400M -400M 600M 800M
KEN Dividend Payout.KEN Dividend Payout, showing the Payout Ratio.KEN Dividend Payout.PayoutRetained Earnings

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KENON HOLDINGS LTD

NYSE:KEN (1/24/2025, 2:27:27 PM)

31.93

-0.08 (-0.25%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryIndependent Power and Renewable Electricity Producers
Earnings (Last)11-25 2024-11-25
Earnings (Next)03-24 2025-03-24
Inst Owners13.35%
Inst Owner Change0.35%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap1.67B
Analysts84
Price TargetN/A
Short Float %0.09%
Short Ratio1.62
Dividend
Industry RankSector Rank
Dividend Yield 11.52%
Yearly Dividend2.82
Dividend Growth(5Y)8.67%
DP118.43%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)N/A
PT rev (3m)N/A
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE 9.92
Fwd PE N/A
P/S 2.25
P/FCF N/A
P/OCF 7.45
P/B 1.44
P/tB 1.95
EV/EBITDA 14.08
EPS(TTM)3.22
EY10.08%
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)-4.32
FCFYN/A
OCF(TTM)4.29
OCFY13.42%
SpS14.16
BVpS22.2
TBVpS16.34
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 4.14%
ROE 14.61%
ROCE 1.56%
ROIC 1.41%
ROICexc 1.76%
ROICexgc 1.96%
OM 8.15%
PM (TTM) 22.89%
GM 18.91%
FCFM N/A
ROA(3y)8.53%
ROA(5y)9.02%
ROE(3y)17.27%
ROE(5y)19.44%
ROIC(3y)0.56%
ROIC(5y)1.34%
ROICexc(3y)0.74%
ROICexc(5y)1.72%
ROICexgc(3y)0.84%
ROICexgc(5y)1.78%
ROCE(3y)0.62%
ROCE(5y)1.48%
ROICexcg growth 3Y-12.31%
ROICexcg growth 5Y-13.86%
ROICexc growth 3Y-15.73%
ROICexc growth 5Y-15.89%
OM growth 3Y-12.26%
OM growth 5Y-11.9%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-6.99%
GM growth 5Y-4.1%
F-Score7
Asset Turnover0.18
Health
Industry RankSector Rank
Debt/Equity 1.17
Debt/FCF N/A
Debt/EBITDA 8.68
Cap/Depr 465.36%
Cap/Sales 60.73%
Interest Coverage 0.92
Cash Conversion 142.72%
Profit Quality N/A
Current Ratio 3.78
Quick Ratio 3.78
Altman-Z 1.15
F-Score7
WACC6.35%
ROIC/WACC0.22
Cap/Depr(3y)399.64%
Cap/Depr(5y)304.96%
Cap/Sales(3y)47.6%
Cap/Sales(5y)34.27%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)115.98%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%121.15%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)8.28%
Revenue growth 3Y21.42%
Revenue growth 5Y13.7%
Sales Q2Q%3.49%
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y177.81%
EBIT growth 3Y6.54%
EBIT growth 5Y0.17%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-143.13%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-72.93%
OCF growth 3Y44.26%
OCF growth 5Y39.5%