NYSE : KEN
Kenon Holdings Ltd. — Financial statements
Utilities · Utilities - Independent Power Producers · Singapore
Last price 68.01 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 3.57B
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Financial statements
Kenon Holdings Ltd. (KEN) reported revenue of 1.19B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.19B | 871.93M | 751.30M | 691.80M | 573.96M | 487.76M |
| Selling, General & Admin | 125.38M | 120.38M | 95.95M | 84.72M | 99.94M | 30.42M |
| Depreciation & Amortization | 89.27M | 67.27M | 85.64M | 78.03M | 56.85M | 55.74M |
| Other Operating Expenses | 879.93M | 621.93M | 522.21M | 486.49M | 414.34M | 378.31M |
| Total Operating Expenses | 1.09B | 809.58M | 703.80M | 649.23M | 571.13M | 464.47M |
| Operating Income | 95.35M | 62.35M | 47.51M | 42.56M | 2.83M | 23.29M |
| Interest Expense | -88.03M | -70.03M | -85.66M | -52.31M | -47.54M | -51.92M |
| Interest Income | 120.20M | 46.20M | 32.02M | 36.75M | 12.11M | 167.00K |
| Net Interest Expense | 32.18M | -23.82M | -53.64M | -15.55M | -35.43M | -51.76M |
| Income (Loss) on Equity Investments | 130.60M | 151.60M | 626.14M | -201.34M | 390.52M | 1.25B |
| Currency Exchange Gain (Loss) | -11.60M | -11.60M | 10.56M | 700.00K | 28.45M | -6.00M |
| Other Non-Operating Income (Expenses) | -2.28M | -2.28M | -10.63M | -11.90M | 2.05M | 589.00K |
| EBT Excluding Unusual Items | 244.24M | 176.24M | 619.94M | -185.53M | 388.42M | 1.22B |
| Total Merger & Restructuring Charges | -752.00K | |||||
| Gain (Loss) on Sale of Investments | 268.00K | 268.00K | -1.42M | -220.00K | -777.00K | -251.69M |
| Gain (Loss) on Sale of Assets | 69.31M | |||||
| Other Unusual Items | -13.19M | -84.20M | ||||
| Pretax Income | 244.51M | 176.51M | 674.64M | -185.75M | 387.64M | 879.64M |
| Income Tax Expense | 41.24M | 28.24M | 40.55M | 25.20M | 37.98M | 4.33M |
| Earnings From Continuing Ops. | 203.26M | 148.26M | 634.09M | -210.95M | 349.66M | 875.32M |
| Net Income to Company | 203.26M | 148.26M | 634.09M | -210.95M | 349.66M | 875.32M |
| Minority Interest in Earnings | -83.99M | -81.99M | -36.41M | -25.03M | -37.01M | 54.96M |
| Net Income | 119.27M | 66.27M | 597.67M | -235.98M | 312.65M | 930.27M |
| Net Income to Common | 119.27M | 66.27M | 597.67M | -235.98M | 312.65M | 930.27M |
| Shares Outstanding (Basic) | 51.70M | 52.15M | 52.71M | 53.36M | 53.88M | 53.88M |
| Shares Outstanding (Diluted) | 51.70M | 52.15M | 52.71M | 53.36M | 53.88M | 53.88M |
| EPS (Basic) | 2.31 | 1.27 | 11.34 | -4.42 | 5.80 | 17.27 |
| EPS (Diluted) | 2.31 | 1.27 | 11.34 | -4.42 | 5.80 | 17.27 |
| Free Cash Flow | -252.61M | 167.39M | -75.59M | -55.33M | 490.10M | 866.00K |
| Free Cash Flow Per Share | -4.89 | 3.21 | -1.43 | -1.04 | 9.10 | 0.02 |
| Dividend Per Share | 3.85 | 4.80 | 3.80 | 2.79 | 3.50 | |
| Profit Margin | 10.02% | 7.60% | 79.55% | -34.11% | 54.47% | 190.72% |
| Free Cash Flow Margin | -21.23% | 19.20% | -10.06% | -8.00% | 85.39% | 0.18% |
| EBITDA | 181.50M | 127.50M | 132.35M | 133.50M | 65.70M | 80.93M |
| EBITDA Margin | 15.25% | 14.62% | 17.62% | 19.30% | 11.45% | 16.59% |
| D&A For EBITDA | 86.15M | 65.15M | 84.84M | 90.94M | 62.88M | 57.64M |
| EBIT | 95.35M | 62.35M | 47.51M | 42.56M | 2.83M | 23.29M |
| EBIT Margin | 8.01% | 7.15% | 6.32% | 6.15% | 0.49% | 4.78% |
| Effective Tax Rate | 16.87% | 16.00% | 6.01% | 9.80% | 0.49% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.70B | 1.48B | 1.02B | 696.84M | 535.17M | 474.54M |
| Short-Term Investments | 78.00M | 107.31M | 142.62M | 215.80M | 380.44M | 50.00K |
| Accounts Receivable | 186.00M | 136.97M | 80.40M | 67.99M | 73.90M | 62.64M |
| Other Receivables | 12.96M | 10.51M | 82.81M | 4.66M | ||
| Inventory | 1.71M | |||||
| Prepaid Expenses | 14.82M | 11.01M | 12.91M | 10.00M | 6.64M | |
| Restricted Cash | 532.00K | 10.33M | 179.00K | |||
| Loans Receivable Current | 34.43M | |||||
| Other Current Assets | 59.00M | 18.33M | 2.30M | 19.16M | 47.21M | 35.83M |
| Total Current Assets | 2.02B | 1.80B | 1.26B | 1.10B | 1.06B | 581.59M |
| Property, Plant & Equipment | 3.82B | 1.57B | 1.33B | 1.89B | 1.35B | 1.22B |
| Goodwill | 69.26M | 60.58M | 192.28M | 117.16M | 118.76M | |
| Other Intangible Assets | 89.00M | 14.20M | 11.23M | 129.00M | 103.64M | 105.53M |
| Long-Term Investments | 1.01B | 1.63B | 1.46B | 703.16M | 1.08B | 1.90B |
| Long-Term Loans Receivable | 32.18M | 30.14M | 5.10M | |||
| Long-Term Deferred Tax Assets | 28.00M | 9.93M | 2.73M | 15.86M | 6.38M | 19.02M |
| Long-Term Deferred Charges | 7.75M | 6.58M | 14.13M | 9.69M | 47.96M | |
| Other Long-Term Assets | 276.00M | 277.19M | 46.96M | 38.49M | 39.76M | 42.41M |
| Total Assets | 7.25B | 5.38B | 4.21B | 4.11B | 3.77B | 4.04B |
| Accounts Payable | 318.00M | 126.78M | 58.29M | 70.66M | 95.04M | 136.50M |
| Accrued Expenses | 43.80M | 33.33M | 103.48M | 31.88M | 30.78M | |
| Current Portion of Long-Term Debt | 204.00M | 117.44M | 84.52M | 169.63M | 39.26M | 38.31M |
| Current Portion of Leases | 17.00M | 2.61M | 4.02M | 4.96M | 17.47M | 18.99M |
| Current Income Taxes Payable | 14.00M | 653.00K | 34.00K | |||
| Other Current Liabilities | 73.00M | 74.57M | 2.68M | 10.06M | 7.39M | 201.55M |
| Total Current Liabilities | 626.00M | 365.20M | 182.84M | 358.80M | 192.98M | 447.29M |
| Long-Term Debt | 2.77B | 1.65B | 1.18B | 1.36B | 1.12B | 1.17B |
| Long-Term Leases | 159.00M | 7.55M | 9.03M | 56.54M | 20.16M | 14.95M |
| Long-Term Unearned Revenue | 79.00M | |||||
| Long-Term Deferred Tax Liabilities | 178.00M | 162.57M | 147.71M | 136.59M | 97.80M | 95.08M |
| Other Long-Term Liabilities | 111.00M | 8.41M | 31.54M | 46.88M | 41.40M | 29.01M |
| Total Liabilities | 3.85B | 2.20B | 1.55B | 2.04B | 1.48B | 1.76B |
| Common Stock | 50.00M | 50.13M | 50.13M | 50.13M | 50.13M | 602.45M |
| Retained Earnings | 1.42B | 1.45B | 1.49B | 1.09B | 1.50B | 1.14B |
| Comprehensive Income & Other | 94.00M | 83.92M | 66.57M | 66.13M | 43.76M | 51.46M |
| Total Common Equity | 1.56B | 1.59B | 1.61B | 1.20B | 1.60B | 1.79B |
| Minority Interest | 1.84B | 1.60B | 1.05B | 866.91M | 697.43M | 486.60M |
| Shareholders' Equity | 3.40B | 3.18B | 2.66B | 2.07B | 2.30B | 2.28B |
| Total Liabilities & Equity | 7.25B | 5.38B | 4.21B | 4.11B | 3.77B | 4.04B |
| Total Debt | 3.15B | 1.78B | 1.28B | 1.59B | 1.20B | 1.24B |
| Net Cash (Debt) | -1.38B | -193.65M | -121.67M | -678.90M | -285.09M | -769.46M |
| Net Cash Per Share | -26.69 | -3.71 | -2.31 | -12.72 | -5.29 | -14.28 |
| Filing Date Shares Outstanding | 51.76M | 52.11M | 52.15M | 52.78M | 53.89M | 53.88M |
| Total Common Shares Outstanding | 51.76M | 52.11M | 52.15M | 52.77M | 53.89M | 53.88M |
| Working Capital | 1.39B | 1.44B | 1.08B | 737.24M | 868.74M | 134.31M |
| Book Value Per Share | 30.14 | 30.49 | 30.83 | 22.80 | 29.66 | 33.29 |
| Tangible Book Value | 1.47B | 1.51B | 1.54B | 882.02M | 1.38B | 1.57B |
| Tangible Book Value Per Share | 28.42 | 28.88 | 29.46 | 16.72 | 25.57 | 29.13 |
| Machinery | 231.00K | 424.00K | 317.27M | 30.40M | 30.26M | |
| Construction In Progress | 143.21M | 80.96M | 290.37M | 552.59M | 409.78M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 119.27M | 66.27M | 597.67M | -235.98M | 312.65M | 930.27M |
| Depreciation & Amortization | 93.42M | 72.42M | 93.44M | 90.94M | 62.88M | 57.64M |
| Loss (Gain) on Sale of Assets | -69.31M | |||||
| Loss (Gain) on Sale of Investments | 212.25M | |||||
| Loss (Gain) on Equity Investments | -130.60M | -151.60M | -626.14M | 201.34M | -390.52M | -1.25B |
| Stock-Based Compensation | -27.71M | 43.28M | 9.70M | -1.55M | 18.86M | 18.37M |
| Change in Accounts Receivable | -77.45M | -67.45M | -17.01M | -2.93M | -28.82M | -1.17M |
| Change in Accounts Payable | 31.04M | 74.04M | 4.74M | -9.51M | -10.10M | -429.00K |
| Other Operating Activities | 235.83M | 246.83M | 271.99M | 234.48M | 806.44M | 273.75M |
| Operating Cash Flow | 243.79M | 283.79M | 265.08M | 276.79M | 771.38M | 240.53M |
| Capital Expenditures | -496.41M | -116.41M | -340.67M | -332.12M | -281.29M | -239.66M |
| Cash Acquisitions | -39.27M | -58.27M | -327.11M | -659.17M | ||
| Divestitures | 115.13M | 115.13M | 38.32M | 2.00M | ||
| Investment in Securities | -154.45M | -205.45M | -95.36M | 188.91M | -386.70M | 663.50M |
| Other Investing Activities | -21.95M | -96.95M | 533.56M | 36.08M | 464.55M | 29.88M |
| Investing Cash Flow | -596.95M | -361.95M | 135.85M | -432.24M | -203.44M | -205.45M |
| Short-Term Debt Issued | 4.14M | 62.19M | ||||
| Long-Term Debt Issued | 504.61M | 584.37M | 371.94M | 99.49M | 605.88M | |
| Total Debt Issued | 980.75M | 508.75M | 584.37M | 434.13M | 99.49M | 605.88M |
| Short-Term Debt Repaid | -55.27M | |||||
| Long-Term Debt Repaid | -202.46M | -531.05M | -167.77M | -55.76M | -562.02M | |
| Total Debt Repaid | -297.46M | -202.46M | -586.33M | -167.77M | -55.76M | -562.02M |
| Net Debt Issued (Repaid) | 683.29M | 306.29M | -1.96M | 266.36M | 43.72M | 43.86M |
| Issuance of Common Stock | 112.39M | |||||
| Repurchase of Common Stock | -9.61M | -10.71M | -28.13M | |||
| Common Dividends Paid | -215.94M | -267.94M | -200.55M | -150.36M | -740.92M | -100.21M |
| Other Financing Activities | 484.01M | 477.01M | 129.14M | 236.71M | 203.52M | 202.93M |
| Financing Cash Flow | 1.06B | 505.76M | -84.08M | 324.58M | -493.68M | 146.58M |
| Foreign Exchange Rate Adjustments | 69.88M | 34.88M | 2.17M | -7.46M | -13.64M | 6.70M |
| Net Cash Flow | 780.49M | 462.49M | 319.01M | 161.67M | 60.63M | 188.36M |
| Free Cash Flow | -252.61M | 167.39M | -75.59M | -55.33M | 490.10M | 866.00K |
| Free Cash Flow Margin | -21.23% | 19.20% | -10.06% | -8.00% | 85.39% | 0.18% |
| Free Cash Flow Per Share | -4.89 | 3.21 | -1.43 | -1.04 | 9.10 | 0.02 |
| Levered Free Cash Flow | -284.13M | 32.05M | -272.09M | -238.15M | -520.35M | 355.56M |
| Unlevered Free Cash Flow | -229.11M | 75.81M | -218.55M | -205.46M | -490.63M | 388.01M |
| Cash Interest Paid | 76.79M | 52.79M | 61.62M | 41.13M | 25.43M | 31.52M |
| Cash Income Tax Paid | 7.38M | 5.38M | 18.20M | 1.85M | 1.56M | 385.00K |
| Change in Working Capital | -46.41M | 6.58M | -12.27M | -12.45M | -38.92M | -1.60M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.43B | 3.43B | 1.75B | 1.32B | 1.79B | 2.74B |
| Enterprise Value | 6.48B | 5.05B | 3.51B | 2.83B | 2.75B | 4.00B |
| PE Ratio | 29.70 | 51.79 | 2.93 | 5.71 | 2.94 | |
| PS Ratio | 2.84 | 3.94 | 2.33 | 1.91 | 3.11 | 5.61 |
| PB Ratio | 0.99 | 1.08 | 0.66 | 0.64 | 0.78 | 1.20 |
| P/FCF Ratio | 20.50 | 3.65 | 3,160.51 | |||
| P/OCF Ratio | 13.84 | 12.09 | 6.61 | 4.77 | 2.32 | 11.38 |
| EV/Sales Ratio | 5.40 | 5.79 | 4.68 | 4.09 | 4.79 | 8.21 |
| EV/EBITDA Ratio | 35.40 | 39.59 | 26.56 | 21.17 | 41.87 | 49.48 |
| EV/EBIT Ratio | 67.39 | 80.95 | 73.98 | 66.41 | 973.83 | 171.94 |
| EV/FCF Ratio | 30.15 | 5.61 | 4,624.59 | |||
| Debt / Equity Ratio | 0.93 | 0.56 | 0.48 | 0.77 | 0.52 | 0.55 |
| Debt / EBITDA Ratio | 16.70 | 13.20 | 9.08 | 11.92 | 18.28 | 15.37 |
| Debt / FCF Ratio | 10.63 | 2.45 | 1,436.55 | |||
| Net Debt / Equity Ratio | 0.41 | 0.06 | 0.05 | 0.33 | 0.12 | 0.34 |
| Net Debt / EBITDA Ratio | 7.60 | 1.52 | 0.92 | 5.08 | 4.34 | 9.51 |
| Net Debt / FCF Ratio | -5.46 | 1.16 | -1.61 | -12.27 | 0.58 | 888.52 |
| Quick Ratio | 3.13 | 4.75 | 6.83 | 2.96 | 5.15 | 1.20 |
| Current Ratio | 3.22 | 4.94 | 6.91 | 3.06 | 5.50 | 1.30 |
| Asset Turnover | 0.20 | 0.18 | 0.18 | 0.18 | 0.15 | 0.15 |
| Return on Equity (ROE) | 6.78% | 5.07% | 26.81% | -9.66% | 15.28% | 49.23% |
| Return on Assets (ROA) | 1.03% | 0.81% | 0.71% | 0.68% | 0.04% | 0.45% |
| Return on Capital Employed (ROCE) | 1.40% | 1.20% | 1.20% | 1.10% | 0.10% | 0.60% |
| Earnings Yield | 3.37% | 1.93% | 34.11% | -17.86% | 17.50% | 33.99% |
| FCF Yield | -7.49% | 4.88% | -4.31% | -4.19% | 27.43% | 0.03% |
| Dividend Yield | 5.91% | 5.85% | 14.29% | 15.17% | 8.41% | 6.89% |
| Payout Ratio | 174.16% | 404.29% | 33.55% | 236.98% | 10.77% | |
| Buyback Yield / Dilution | 1.97% | 1.08% | 1.21% | 0.97% | -0.01% | -0.02% |
| Total Shareholder Return | 7.97% | 6.92% | 15.50% | 16.15% | 8.40% | 6.87% |