Kenon Holdings Ltd. (KEN) Financial Ratios
14 years of historical data (2012–2025) · Utilities · Independent Power Producers
EV/EBITDA
↓
27.84
-1% vs avg
5yr avg: 28.11
30Y Low3.6·High44.5
P/FCF
↓
N/A
—
5yr avg: 182.13
30Y Low1.2·High22.2
P/B Ratio
↓
1.08
↑+23% vs avg
5yr avg: 0.88
30Y Low0.4·High1.6
ROE
↓
2.3%
↑-86% vs avg
5yr avg: 16.5%
30Y Low-53%·High79%
Debt/EBITDA
↓
13.20
↓-3% vs avg
5yr avg: 13.57
30Y Low4.2·High18.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
KEN Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Kenon Holdings Ltd. trades at 52.1x earnings, 226% above its 5-year average of 16.0x, sitting at the 88th percentile of its historical range. Compared to the Utilities sector median P/E of 19.1x, the stock trades at a premium of 172%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.5B | $3.5B | $1.8B | $1.3B | $1.8B | $2.8B | $1.6B | $1.1B | $794M | $1.2B | $626M |
| Enterprise Value | $3.8B | $3.8B | $2.1B | $2.2B | $2.4B | $3.6B | $2.3B | $1.6B | $1.2B | $786M | $3.6B |
| P/E Ratio → | 52.14 | 52.21 | 3.00 | — | 5.69 | 3.04 | 3.20 | — | 1.83 | 4.92 | — |
| P/S Ratio | 3.96 | 3.97 | 2.39 | 1.88 | 3.10 | 5.80 | 4.20 | 3.04 | 2.18 | 3.19 | 1.93 |
| P/B Ratio | 1.08 | 1.09 | 0.67 | 0.63 | 0.77 | 1.24 | 1.27 | 1.59 | 1.11 | 1.11 | 0.70 |
| P/FCF | — | — | — | — | 3.55 | 360.70 | — | 22.23 | — | 1.19 | — |
| P/OCF | 12.16 | 12.18 | 6.76 | 4.69 | 2.31 | 11.76 | 17.62 | 13.28 | 15.16 | 2.97 | 3.86 |
P/E links to full P/E history page with 30-year chart
KEN EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Kenon Holdings Ltd.'s enterprise value stands at 27.8x EBITDA, roughly in line with its 5-year average of 28.1x. The Utilities sector median is 11.9x, placing the stock at a 134% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.31 | 2.74 | 3.17 | 4.26 | 7.38 | 5.88 | 4.32 | 3.43 | 2.15 | 11.14 |
| EV / EBITDA | 27.84 | 27.89 | 14.59 | 16.43 | 37.17 | 44.46 | 39.74 | 18.34 | 17.21 | 3.56 | 11.13 |
| EV / EBIT | 60.17 | 15.25 | 11.49 | 16.44 | 18.81 | 3.86 | 4.33 | 95.64 | 2.54 | — | — |
| EV / FCF | — | — | — | — | 4.87 | 458.83 | — | 31.67 | — | 0.80 | — |
KEN Profitability
Margins and return-on-capital ratios measuring operating efficiency
Kenon Holdings Ltd. earns an operating margin of 7.2%, below the Utilities sector average of 18.5%. ROE of 2.3% is modest, trailing the sector median of 9.3%. ROIC of 1.5% represents below-average returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 16.8% | 16.8% | 19.1% | 17.3% | 17.4% | 20.2% | 18.4% | 23.1% | 20.5% | 18.7% | 14.2% |
| Operating Margin | 7.2% | 7.2% | 6.3% | 6.2% | 0.5% | 4.8% | 6.0% | 15.0% | 11.6% | 11.6% | 46.9% |
| Net Profit Margin | 7.6% | 7.6% | 79.6% | -34.1% | 54.5% | 190.7% | 131.2% | -3.6% | 119.3% | 64.7% | -127.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.3% | 2.3% | 25.3% | -10.8% | 13.7% | 52.3% | 51.0% | -1.9% | 49.2% | 24.3% | -38.2% |
| ROA | 1.4% | 1.4% | 14.4% | -6.0% | 8.0% | 28.4% | 25.4% | -0.9% | 21.8% | 6.2% | -8.6% |
| ROIC | 1.5% | 1.5% | 1.2% | 1.1% | 0.1% | 0.7% | 1.1% | 3.6% | 3.4% | 1.4% | 3.1% |
| ROCE | 1.4% | 1.4% | 1.2% | 1.2% | 0.1% | 0.8% | 1.3% | 4.0% | 2.7% | 1.5% | 3.8% |
KEN Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Kenon Holdings Ltd. carries a Debt/EBITDA ratio of 13.2x, which is highly leveraged (154% above the sector average of 5.2x). Net debt stands at $301M ($1.8B total debt minus $1.5B cash). Interest coverage of 3.5x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.56 | 0.56 | 0.48 | 0.77 | 0.52 | 0.55 | 0.73 | 0.88 | 0.82 | 0.99 | 3.71 |
| Debt / EBITDA | 13.20 | 13.20 | 9.08 | 11.92 | 18.25 | 15.37 | 16.39 | 7.13 | 8.08 | 4.70 | 10.21 |
| Net Debt / Equity | — | 0.09 | 0.10 | 0.43 | 0.29 | 0.34 | 0.51 | 0.68 | 0.64 | -0.36 | 3.34 |
| Net Debt / EBITDA | 2.23 | 2.23 | 1.88 | 6.70 | 10.11 | 9.51 | 11.38 | 5.46 | 6.27 | -1.72 | 9.20 |
| Debt / FCF | — | — | — | — | 1.33 | 98.13 | — | 9.44 | — | -0.39 | — |
| Interest Coverage | 3.52 | 3.52 | 1.94 | 2.08 | 2.73 | 6.84 | 13.94 | 0.73 | 16.21 | -1.10 | -8.07 |
KEN Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Kenon Holdings Ltd.'s current ratio of 4.94x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 3.05x to 4.94x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.94 | 4.94 | 6.91 | 3.05 | 5.50 | 1.30 | 4.04 | 3.14 | 3.64 | 1.87 | 0.82 |
| Quick Ratio | 4.94 | 4.94 | 6.91 | 3.05 | 5.49 | 1.30 | 1.56 | 3.14 | 2.56 | 1.87 | 0.73 |
| Cash Ratio | 4.34 | 4.34 | 6.34 | 2.54 | 4.80 | 1.06 | 1.25 | 1.40 | 2.01 | 1.77 | 0.40 |
| Asset Turnover | — | 0.16 | 0.18 | 0.17 | 0.15 | 0.12 | 0.16 | 0.25 | 0.25 | 0.14 | 0.06 |
| Inventory Turnover | — | — | — | 1075.82 | 150.66 | 228.26 | 0.56 | — | 2.97 | — | 3.03 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
KEN Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Kenon Holdings Ltd. returns 8.0% to shareholders annually — split between a 7.8% dividend yield and 0.3% buyback yield. The payout ratio exceeds 100% at 404.3%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 1.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 7.8% | 7.7% | 11.2% | 11.6% | 41.7% | 3.5% | 7.4% | 5.7% | 96.3% | 0.0% | 0.1% |
| Payout Ratio | 404.3% | 404.3% | 33.6% | — | 237.0% | 10.8% | 23.7% | — | 176.1% | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.9% | 1.9% | 33.4% | — | 17.6% | 32.9% | 31.3% | — | 54.7% | 20.3% | — |
| FCF Yield | — | — | — | — | 28.2% | 0.3% | — | 4.5% | — | 83.8% | — |
| Buyback Yield | 0.3% | 0.3% | 0.6% | 2.2% | 10.9% | 0.0% | 20.3% | 0.0% | 83.7% | 0.0% | 0.0% |
| Total Shareholder Yield | 8.0% | 8.0% | 11.8% | 13.7% | 52.5% | 3.5% | 27.7% | 5.7% | 100.0% | 0.0% | 0.1% |
| Shares Outstanding | — | $52M | $53M | $53M | $54M | $54M | $54M | $54M | $54M | $54M | $54M |
Peer Comparison
Compare KEN with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 KENYou | $3B | 52.1 | 27.8 | — | 16.8% | 7.2% | 2.3% | 1.5% | 13.2 |
 AMTD | $7M | 0.2 | 6.9 | 1.4 | 45.2% | 48.2% | 3.4% | 1.2% | 8.6 |
 ITRN | $1B | 22.0 | 12.2 | 19.1 | 49.7% | 21.4% | 27.9% | 47.2% | 0.0 |
 ESLT | $36B | 68.0 | 42.6 | 60.6 | 24.4% | 8.7% | 14.4% | 11.7% | 1.1 |
 TEVA | $37B | 26.8 | 16.2 | 32.7 | 51.8% | 12.5% | 20.7% | 7.7% | 5.5 |
 ICL | $7B | 28.2 | 6.8 | 50.3 | 30.6% | 9.8% | 3.7% | 6.3% | 2.1 |
 ORA | $8B | 64.1 | 22.4 | — | 27.6% | 18.5% | 4.7% | 2.7% | 6.1 |
 CWEN | $8B | 26.1 | 16.0 | 20.6 | 15.2% | 12.3% | 2.9% | 0.9% | 9.6 |
 AES | $10B | 11.6 | 11.3 | — | 18.1% | 16.1% | 9.7% | 3.9% | 8.8 |
 NRG | $29B | 34.6 | 10.9 | 38.3 | 21.8% | 6.0% | 41.5% | 10.6% | 4.4 |
 VST | $56B | 75.7 | 17.7 | 437.2 | 17.5% | 7.9% | 17.7% | 4.3% | 4.8 |
| Utilities Median | — | 19.1 | 11.9 | 18.6 | 38.4% | 18.5% | 9.3% | 4.9% | 5.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 14 years · Updated daily
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KEN — Frequently Asked Questions
Quick answers to the most common questions about buying KEN stock.
What is Kenon Holdings Ltd.'s P/E ratio?
Kenon Holdings Ltd.'s current P/E ratio is 52.1x. The historical average is 10.2x. This places it at the 88th percentile of its historical range.
What is Kenon Holdings Ltd.'s EV/EBITDA?
Kenon Holdings Ltd.'s current EV/EBITDA is 27.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 21.7x.
What is Kenon Holdings Ltd.'s ROE?
Kenon Holdings Ltd.'s return on equity (ROE) is 2.3%. The historical average is 12.3%.
Is KEN stock overvalued?
Based on historical data, Kenon Holdings Ltd. is trading at a P/E of 52.1x. This is at the 88th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Kenon Holdings Ltd.'s dividend yield?
Kenon Holdings Ltd.'s current dividend yield is 7.76% with a payout ratio of 404.3%.
What are Kenon Holdings Ltd.'s profit margins?
Kenon Holdings Ltd. has 16.8% gross margin and 7.2% operating margin.
How much debt does Kenon Holdings Ltd. have?
Kenon Holdings Ltd.'s Debt/EBITDA ratio is 13.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.