Kenon Holdings Ltd. (KEN) is a publicly traded company in the Utilities — Independent Power Producers industry listed on NYSE. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
Kenon Holdings Ltd. is a global enterprise that, through its various subsidiaries, owns, develops, and manages power generation facilities across Israel, the United States, and other international markets. The company's operations are divided into four main segments: OPC Israel, CPV Group, ZIM, and Quantum.
Is Kenon Holdings Ltd. stock overvalued or undervalued in 2026?
Kenon Holdings Ltd. (KEN) trades at 30.2× earnings (P/E), above the median of the 83 utilities companies over $2bn in Kaplio's universe. At its sector median (20.7×) $47 (-31 %).
Kaplio overview: Kenon Holdings Ltd.
Market cap $4B · 52 weeks $52 – $96 (29 % below the high) · P/E 30.2× · Dividend 5.5 % · Next earnings December 3, 2026 · Closing price, Oct 29 · accounts published Sep 8.
- Valuation: P/E 30.2× (expensive).
- Business: ROE 7.8 % (fair).
- Balance sheet: Net debt/EBITDA 0.9× (solid).
- Earnings: Next.
What would it be worth at its usual multiples?
At its sector median (20.7×) $47 (-31 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.
Why is Kenon Holdings Ltd.'s P/E so low?
Kenon Holdings Ltd. trades at a P/E of 30.2× on reported earnings, but over the last 12 months 52 % of its pre-tax income ($127M) came from outside the business, such as revaluations or sales of stakes in other companies. It is real money, but it doesn't repeat every year. Without that part, its P/E would be about 90.5×. Kaplio's calculation from the official quarterly accounts filed up to the quarter ended June 30, 2026.
| Quarter ended | From the business | Outside the business | Net income |
|---|---|---|---|
| September 30, 2025 | $34.0M | $48.0M | $25.0M |
| December 31, 2025 | $21.3M | $30.2M | $25.3M |
| March 31, 2026 | $4.0M | $39.0M | $26.0M |
| June 30, 2026 | $57.0M | $10.0M | $44.0M |
What matters in utilities: 2 of 6 pass
- 5y EPS growth −33.0 %, fails.
- Interest coverage 0.9×, fails.
- Payout Ratio 404.3 %, fails.
- Regulated ROE (8-12%) 7.8 %, borderline.
- 10y dividend growth 93.0 %, passes.
- Net debt / EBITDA 0.9×, passes.
Against its peers (reference peers) — Kenon Holdings Ltd.: P/E 30.2×; EV/EBITDA 12.7×; ROIC 1.4 %; $3.5B. American States Water Company (P/E 23.4×; EV/EBITDA 15.9×; ROIC 6.5 %; $3.4B), Otter Tail Corporation (P/E 19.5×; EV/EBITDA 12.7×; ROIC 5.5 %; $3.8B), Chesapeake Utilities Corporation (P/E 21.6×; EV/EBITDA 12.7×; ROIC 5.0 %; $3.3B).
Dividend
fragile · Yield 5.5 % ($5.14 per ADS in 2025) · Years raising it 2 · 5-year growth +18 % a year · Free cash flow coverage 0.1× · With $1,000 invested today you'd collect $55.30 a year ($4.61 a month).
Profitability
| Return on Equity | 7.83% |
| Return on Invested Capital | 1.42% |
| Return on Assets | 1.66% |
| Gross Margin | 18.57% |
| Operating Margin | 9.79% |
| Net Margin | 10.12% |
Financial Health
| Debt / Equity | 2.02 |
| Current Ratio | 3.22 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 1.84 |
Price Performance
| 1 month | +12.97% |
| 3 months | +0.95% |
| Year-to-date | +2.56% |
| 1 year | +29.67% |
| 3 years | +270.83% |
| 5 years | +69.98% |
| 10 years | +601.13% |
Dividend History
Paid in the last 12 months: $3.8500 per share in 1 payments.
| Date | Amount |
|---|---|
| 2026-04-13 | $3.8500 |
| 2025-04-14 | $4.8000 |
| 2024-04-05 | $3.8000 |
| 2023-04-06 | $2.7900 |
| 2022-06-24 | $10.2500 |
| 2022-01-18 | $3.5000 |
| 2021-08-24 | $2.0000 |
| 2021-04-28 | $1.8600 |
| 2020-11-02 | $2.2300 |
| 2019-11-15 | $1.2100 |
Amounts adjusted for stock splits.
Related companies: OTTR · MGEE · RNW · EE · AVA · CPK · AWR · CWT
Explore sector: Utilities · Independent Power Producers
More sections of KEN: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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