Kenon Holdings Ltd. (KEN) | Investment Case

1. Company Snapshot

1.a. Company Description

Kenon Holdings Ltd., through its subsidiaries, operates as an owner, developer, and operator of power generation facilities in Israel, the United States, and internationally.It operates in four segments: OPC Israel, CPV Group, ZIM, and Quantum.The company engages in the generation and supply of electricity and energy; development, construction, and management of renewable energy and conventional natural gas-fired power plants; manufacture of automobiles; and provision of container liner shipping services.

As of December 31, 2021, the company had an installed capacity of approximately 610 MW; and operated a fleet of 118 vessels.The company was incorporated in 2014 and is based in Singapore.Kenon Holdings Ltd.

is a subsidiary of Ansonia Holdings Singapore B.V.

Show Full description

1.b. Last Insights on KEN

Kenon Holdings Ltd.'s recent performance was driven by the appointment of Ken Cook as Interim CEO at Wendy's, a significant development in the company's portfolio. This strategic move is expected to have a positive impact on the company's performance, given Wendy's strong brand recognition and growth potential. Additionally, the company's Q1 2025 results showed a solid foundation for future growth, with a strong balance sheet and a diversified portfolio of businesses.

1.c. Company Highlights

Last Price	61.12
Change Percentage	-2.46%
Open	61.97
Previous Close	62.66
Market Cap ( Millions)	3224
Volume	15391
Year High	62.88
Year Low	27.1
M A 50	51.66
M A 200	41.31

FCF Yield	0.54%
Dividend Yield	7.85%
ROE	34.33%
Debt / Equity	101.87%
Net Debt / EBIDTA	209.92%
Price To Book	2.2
Price Earnings Ratio	6.18
Price To FCF	185.11
Price To sales	4.16
EV / EBITDA	15.63

2. Transcript Summary

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3. NewsRoom

Kenon Holdings Reports Q3 2025 Results and Additional Updates

Dec -03

Source: prnewswire.com

Reviewing Evergy (NASDAQ:EVRG) & Kenon (NYSE:KEN)

Dec -02

Source: defenseworld.net

2 Must-Own Stocks Yielding 7%+ in Dividends

Sep -16

Source: 247wallst.com

Kenon Holdings Reports Q2 2025 Results and Additional Updates

Aug -28

Source: prnewswire.com

Kenon Holdings: A Risky Play On Israeli Energy Shortages

Jul -30

Source: seekingalpha.com

WENDY'S APPOINTS KEN COOK AS INTERIM CEO

Jul -08

Source: prnewswire.com

Buy 6 Ideal Safe Dividend Power Dogs For June

Jun -17

Source: seekingalpha.com

Kenon Holdings Reports Q1 2025 Results and Additional Updates

May -28

Source: prnewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.61%)

6. Segments

OPC Israel

Expected Growth: 4.5%

Israel's increasing electricity demand, driven by population growth and industrialization, will fuel OPC Israel's growth. Additionally, the Israeli government's renewable energy targets and OPC's diversified power generation portfolio will contribute to the company's expansion.

CPV Group

Expected Growth: 5.5%

Growing demand for efficient power generation and distribution solutions, increasing adoption of renewable energy sources, and rising investments in grid modernization are driving the growth of the CPV Group's market.

7. Detailed Products

IC Power

IC Power is a leading provider of electricity and gas to the Israeli market, offering a range of energy solutions to residential, commercial, and industrial customers.

Qoros

Qoros is a Chinese automotive manufacturer that designs, manufactures, and sells passenger vehicles, focusing on safety, quality, and innovative technology.

ZIM Integrated Shipping Services

ZIM is a global container shipping company that provides door-to-door logistics solutions, offering a range of services including containerized cargo, reefer cargo, and project cargo.

MRC Aladdin

MRC Aladdin is a leading provider of energy storage solutions, offering a range of products and services for the renewable energy sector.

8. Kenon Holdings Ltd.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Kenon Holdings Ltd. is moderate due to the presence of alternative energy sources and transportation methods.

Bargaining Power Of Customers

The bargaining power of customers is low due to the company's diversified customer base and lack of concentration.

Bargaining Power Of Suppliers

The bargaining power of suppliers is moderate due to the presence of multiple suppliers and the company's ability to negotiate prices.

Threat Of New Entrants

The threat of new entrants is high due to the growing demand for energy and transportation services, making it an attractive market for new companies to enter.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of established companies and the need to compete on price, quality, and innovation.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	56.06%
Debt Cost	3.95%
Equity Weight	43.94%
Equity Cost	7.16%
WACC	5.36%
Leverage	127.56%

11. Quality Control: Kenon Holdings Ltd. passed 3 out of 9 key points

Strong Liquidity

Low Deb

Strong Interest Coverage

Healthy Cash Flow

Operating Inefficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Kenon

A-Score: 7.5/10

Value: 3.5

Growth: 6.0

Quality: 5.8

Yield: 10.0

Momentum: 10.0

Volatility: 9.7

1-Year Total Return ->

BW LPG

A-Score: 7.3/10

Value: 7.0

Growth: 8.6

Quality: 5.4

Yield: 10.0

Momentum: 4.0

Volatility: 9.0

1-Year Total Return ->

Capital Power

A-Score: 6.6/10

Value: 4.7

Growth: 6.3

Quality: 3.1

Yield: 9.0

Momentum: 8.5

Volatility: 7.7

1-Year Total Return ->

EGCO

A-Score: 6.2/10

Value: 6.0

Growth: 4.7

Quality: 5.6

Yield: 10.0

Momentum: 4.5

Volatility: 6.3

1-Year Total Return ->

Centrica

A-Score: 5.9/10

Value: 6.5

Growth: 5.6

Quality: 3.5

Yield: 3.1

Momentum: 9.0

Volatility: 8.0

1-Year Total Return ->

NRG Energy

A-Score: 5.1/10

Value: 2.5

Growth: 6.8

Quality: 3.7

Yield: 4.0

Momentum: 9.5

Volatility: 4.3

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

41.44%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

5.36%

Kenon Holdings Ltd. - SG9999012629

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on KEN

1.c. Company Highlights

Medium Volatility

Fairly Valued

Stable Momentum

Average Growth

Revenues Miss

Average Quality

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.61%)

6. Segments

OPC Israel

Expected Growth: 4.5%

CPV Group

Expected Growth: 5.5%

7. Detailed Products

IC Power

Qoros

ZIM Integrated Shipping Services

MRC Aladdin

8. Kenon Holdings Ltd.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: Kenon Holdings Ltd. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

61.12$

Current Price

61.12$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA