Upside case
Bull case
$186+99.1%
ENLT would need investors to value it at roughly 405x earnings — about 202x more generous than today's 203x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated May 1, 2026
Enlight Renewable Energy Ltd (ENLT) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
7
analysts
4 bullish · 2 bearish · 7 covering ENLT
Strong Buy
0
Buy
4
Hold
1
Sell
2
Strong Sell
0
Consensus Target
$63
-33.2% vs today
Scenario Range
— – $186
Model bear to bull value window
Coverage
7
Published analyst ratings
Valuation Context
203.5x
Forward P/E · Market cap $13.0B
ENLT price targets
Three scenarios for where ENLT stock could go
Current
~$94
Confidence
39 / 100
Updated
May 1, 2026
Where we are now
Current · $94
Base
$95
Bull
$186
Market caseClosest to today
Base case
$95+1.4%
This is close to how the market is already pricing ENLT — at roughly 206x forward earnings. No dramatic re-rating needed, just steady execution on the core business.
Stress case
Bear case
—
The bear case reflects a scenario where earnings shortfalls or multiple compression combine to materially reduce the stock from its current level.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Enlight Renewable Energy Ltd
ENLT · NASDAQUtilitiesRenewable UtilitiesDecember year-end
Enlight Renewable Energy is a renewable energy developer and operator that builds and manages utility-scale wind, solar, and energy storage projects. It generates revenue primarily through long-term power purchase agreements — selling electricity to utilities and corporate off-takers — with additional income from asset management services. The company's competitive advantage lies in its integrated development-to-operation platform and its early-mover position in Israel's renewable energy market, which provides deep local expertise and regulatory knowledge.
Market Cap
$13.0B
Revenue TTM
$813M
Net Income TTM
$94M
Net Margin
11.5%
ENLT Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
75%Exceptional
12 quarters tracked
Revenue Beat Rate
25%Exceptional
vs consensus estimates
Avg EPS Surprise
+69.9%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 3 of 4Q3 2025
EPS
$0.01/$0.06
Revenue
$36M/$146M
Q4 2025
EPS
$0.16/$0.07
Revenue
$139M/$146M
Q1 2026
EPS
$0.10/$-0.07
Revenue
$402M/$174M
Q2 2026
EPS
$0.08/$0.07
Revenue
$156M/$202M
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $0.01/$0.06 | -83.3% | $36M/$146M | -75.2% |
| Q4 2025 | $0.16/$0.07 | +128.6% | $139M/$146M | -5.3% |
| Q1 2026 | $0.10/$-0.07 | +242.9% | $402M/$174M | +131.6% |
| Q2 2026 | $0.08/$0.07 | +14.3% | $156M/$202M | -22.7% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$820M
+7.0% YoY
FY2
$929M
+13.3% YoY
EPS Outlook
FY1
$1.11
-3.8% YoY
FY2
$1.19
+7.0% YoY
Trailing FCF (TTM)-$4.0B
FCF Margin: -492.4%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
ENLT beat EPS estimates in 3 of 4 tracked quarters. A strong delivery record supports forward estimate credibility.
ENLT Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $581M
Product Mix
Latest annual revenue by segment or product family
Segment breakdown not available for this company.
Geographic Mix
Latest annual revenue by reported region
ISRAEL
38.3%
+42.8% YoY
Tap, hover, or focus a slice to inspect segment detail.
ISRAEL is the largest reported region at 38.3%, up 42.8% YoY.
ENLT Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Significantly Overvalued
Fair value est. $62 — implies -32.0% from today's price.
Premium to Fair Value
32.0%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
ENLT
80.1x
vs
S&P 500
25.2x
+217% premium
vs Utilities Trailing P/E
ENLT
80.1x
vs
Utilities
19.8x
+304% premium
vs ENLT 5Y Avg P/E
Today
80.1x
vs
5Y Average
11.9x
+571% premium
Forward PE
203.5x
S&P 500
19.1x
+967%
Utilities
17.2x
+1084%
5Y Avg
—
—
Trailing PE
80.1x
S&P 500
25.2x
+217%
Utilities
19.8x
+304%
5Y Avg
11.9x
+571%
PEG Ratio
—
S&P 500
1.74x
—
Utilities
1.67x
—
5Y Avg
—
—
EV/EBITDA
40.3x
S&P 500
15.2x
+165%
Utilities
11.3x
+256%
5Y Avg
17.8x
+126%
Price/FCF
—
S&P 500
21.3x
—
Utilities
15.1x
—
5Y Avg
15.8x
—
Price/Sales
22.7x
S&P 500
3.1x
+625%
Utilities
2.1x
+968%
5Y Avg
6.0x
+279%
Dividend Yield
—
S&P 500
1.87%
—
Utilities
3.09%
—
5Y Avg
—
—
| Metric | ENLT | S&P 500 | Utilities | 5Y Avg ENLT |
|---|---|---|---|---|
| Forward PE | 203.5x | 19.1x+967% | 17.2x+1084% | — |
| Trailing PE | 80.1x | 25.2x+217% | 19.8x+304% | 11.9x+571% |
| PEG Ratio | — | 1.74x | 1.67x | — |
| EV/EBITDA | 40.3x | 15.2x+165% | 11.3x+256% | 17.8x+126% |
| Price/FCF | — | 21.3x | 15.1x | 15.8x |
| Price/Sales | 22.7x | 3.1x+625% | 2.1x+968% | 6.0x+279% |
| Dividend Yield | — | 1.87% | 3.09% | — |
ENLT trades above S&P 500 benchmarks on 4 of 4 measured multiples — commands a broad premium across most valuation dimensions.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolENLT Financial Health
Verdict
Strong
ENLT earns 46.1% operating margin on regulated earnings. Utilities carry higher leverage than industrials as a structural feature of the business model.
Regulated Operations
Revenue, regulated margins, and earnings
Revenue (TTM)
Trailing-twelve-month sales base
$813M
Revenue Growth
TTM vs prior year
+25.3%
Operating Margin
Operating income divided by revenue
46.1%
Net Margin
Net income divided by revenue
11.5%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$0.64
Operating Margin
Operating income over revenue — primary regulated earnings signal
46.1%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
4.8%
ROA
Return on assets, trailing twelve months
0.5%
Cash & Equivalents
Liquid assets on the balance sheet
$3.0B
Net Debt
Total debt minus cash
$14.1B
Debt Serviceability
Net debt as a multiple of annual free cash flow
—
Regulated utilities typically operate at 3–5× net debt/FCF — this is structural, not a risk flag.
ROE
Return on equity, trailing twelve months
2.2%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.0%
Dividend
—
Buyback
0.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$0
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Current diluted share count
139M
All figures from the trailing twelve months. Utilities operate with structural leverage (3–5× net debt/FCF) due to regulated, predictable cash flows.
Open full ratios pageENLT Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Debt Burden
ENLT carries a significant debt burden, with a debt-to-equity ratio of 2.99x and an expected Net Debt/EBITDA ratio of about 11x in FY24, which exceeds its market capitalization. This high level of indebtedness could severely impact the company's operational flexibility and financial condition.
High Risk
Geopolitical Instability
Given its Israeli origin, ENLT is exposed to risks associated with geopolitical tensions in the Middle East, particularly concerning the Israel-Iran conflict. Such instability could adversely affect the company's energy assets and operations.
High Risk
Financial Performance
While ENLT has seen revenue growth, it has experienced a decrease in gross and net margins. Additionally, a projected drop in earnings per share for the second fiscal year could signal challenges in maintaining profitability.
Medium
Project Execution and Delays
Risks related to permitting, interconnection, construction costs, and supply chain issues can lead to project delays. Such delays could significantly impact ENLT's financial performance and ability to meet market expectations.
Medium
Dependence on Tax Credits
ENLT's growth strategy, particularly in the U.S., relies heavily on favorable tax credits. Any changes in legislation or government support for renewable energy could introduce significant risks to the company's operations and profitability.
Medium
Curtailment Risk
As renewable energy penetration increases, so does the risk of congestion leading to curtailment. This is particularly concerning when multiple projects generate power simultaneously due to common resource availability, potentially affecting revenue.
Lower
Supply Chain and Tariffs
ENLT's reliance on battery technology, with China as a major supplier, exposes it to risks from potential trade tensions, increased tariffs, and supply chain disruptions. These factors could impact the cost and availability of critical components.
Lower
Valuation Concerns
Some analysts have flagged valuation risks, noting that ENLT's stock price has traded above consensus targets. This suggests a potential correction from overbought levels, which could affect investor sentiment.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why ENLT Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
Significant Revenue Growth
Enlight has demonstrated impressive revenue growth, with a 46% year-over-year increase in 2025 and projections for continued strong growth in 2026, with revenues expected to reach $755-785 million. Over the past decade, the company has achieved approximately 3X growth every three years, with a 40% revenue CAGR since 2018.
Expanding Project Portfolio
The company is actively developing and expanding its renewable energy projects across solar, wind, and energy storage. As of early 2026, its total portfolio comprises 20.6 GW of generation capacity and 61 GWh of energy storage, an increase of 26% from the previous year.
Favorable Industry Tailwinds
The renewable energy sector benefits from global trends such as the increasing demand for energy security and government incentives like the US Inflation Reduction Act (IRA). The company's global platform, with operations in the U.S., Europe, and MENA, positions it well to capitalize on these trends.
Strong Financial Performance and Outlook
Enlight has reported strong financial results, including a 142% net income growth in 2025. The company projects annual recurring revenues to exceed $2 billion by the end of 2028.
Institutional Interest
There is growing institutional interest in ENLT, with firms like Zurcher Kantonalbank increasing their stake and Phoenix Financial Ltd. disclosing a significant passive stake. This indicates confidence in Enlight's growth trajectory.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
ENLT Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$93.60
52W Range Position
100%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$16.59
+464.2% from the low
52-Week High
$93.84
-0.3% from the high
1 Month
+35.57%
3 Month
+55.97%
YTD
+96.3%
1 Year
+455.5%
3Y CAGR
+77.1%
5Y CAGR
+116.7%
10Y CAGR
+47.2%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
ENLT vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
203.5x
vs 14.6x median
+1291% above peer median
Revenue Growth
+7.0%
vs +8.4% median
-17% below peer median
Net Margin
11.5%
vs 1.8% median
+549% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
ENL ENLT Enlight Renewable Energy Ltd | $13.0B | 203.5x | +7.0% | 11.5% | Buy | -33.2% |
CWE CWEN Clearway Energy, Inc. | $7.9B | — | +6.3% | 11.8% | Buy | +13.5% |
ARR ARRY Array Technologies, Inc. | $1.2B | 11.6x | +17.1% | -4.1% | Buy | +12.9% |
BE BE Bloom Energy Corporation | $68.6B | 136.4x | +34.6% | 0.2% | Buy | -34.3% |
BEP BEP Brookfield Renewable Partners L.P. | $10.6B | — | +8.4% | 3.3% | Buy | +2.0% |
HAS HASI HA Sustainable Infrastructure Capital, Inc. | $5.5B | 14.6x | -14.4% | — | Buy | +2.7% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
FAQ
7 questionsENLT Investor Questions
Common questions answered from live analyst data and company financials.
01Is Enlight Renewable Energy Ltd (ENLT) stock a buy or sell in 2026?
Enlight Renewable Energy Ltd (ENLT) is rated Buy by Wall Street analysts as of 2026. Of 7 analysts covering the stock, 4 rate it Buy or Strong Buy, 1 rate it Hold, and 2 rate it Sell or Strong Sell. The consensus 12-month price target is $63, implying -33.2% from the current price of $94.
02What is the ENLT stock price target for 2026?
The Wall Street consensus price target for ENLT is $63 based on 7 analyst estimates. The high-end target is $83 (-11.3% from today), and the low-end target is $37 (-60.5%). The base case model target is $95.
03Is Enlight Renewable Energy Ltd (ENLT) stock overvalued in 2026?
ENLT trades at 203.5x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals significantly overvalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Enlight Renewable Energy Ltd (ENLT) stock in 2026?
The primary risks for ENLT in 2026 are: (1) Debt Burden — ENLT carries a significant debt burden, with a debt-to-equity ratio of 2. (2) Geopolitical Instability — Given its Israeli origin, ENLT is exposed to risks associated with geopolitical tensions in the Middle East, particularly concerning the Israel-Iran conflict. (3) Financial Performance — While ENLT has seen revenue growth, it has experienced a decrease in gross and net margins. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Enlight Renewable Energy Ltd's revenue and earnings forecast?
Analyst consensus estimates ENLT will report consensus revenue of $820M (+7.0% year-over-year) and EPS of $1.11 (-3.8% year-over-year) for the upcoming fiscal year. The following year, analysts project $929M in revenue.
06When does Enlight Renewable Energy Ltd (ENLT) report its next earnings?
A confirmed upcoming earnings date for ENLT is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does Enlight Renewable Energy Ltd generate?
Enlight Renewable Energy Ltd (ENLT) had a free cash outflow of $4.0B in free cash flow over the trailing twelve months — a free cash flow margin of 492.4%. ENLT returns capital to shareholders through and share repurchases ($0 TTM).