| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 4 | 94.6x | 17.8x | Bottom tier | |
Growth | 24 | -55.5% | 7.1% | Bottom tier | |
Quality | 52 | 2.1% | 4.5% | Around median | |
Safety | 21 | 21.0x | 2.6x | Bottom tier | |
Capital Return | 11 | — | 2.12% | Bottom tier | |
Momentum | 66 | 207.7% | 2.9% | Top tier | |
Sentiment | 68 | 4 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Enlight Renewable Energy develops, builds, finances, and operates renewable energy projects across the United States, Europe, and Israel, with a primary focus on solar power and battery energy storage. Its cash flows come from electricity sales under long-term power purchase agreements or in electricity markets, tax benefits associated with U.S. projects, electricity trading in Israel, and the sale of stakes in certain assets; it is also working to convert its 43.1 GW weighted portfolio into operating assets that generate revenue and cash.
In Q2 FY2026, reported on August 4, 2026, total revenues and income rose 55% to $210 million, from $135 million in the comparable period, while adjusted EBITDA increased 67% to $160 million, equivalent to approximately 76.2% of revenues and income. Net income reached $31 million versus $6 million, while operating cash flow increased 34% to $84 million. Mix drivers included $21 million from electricity sales by new projects and $19 million from their tax benefits, $12 million from existing projects, $13 million from foreign exchange rates, and $9 million from electricity trading, in addition to $17 million included in adjusted EBITDA from the sale of an additional 15% stake in Sunlight.
FY2025 results also show an expanding operating base; revenues rose to $488.6 million from $377.9 million in FY2024, and net income increased to $160.7 million from $66.5 million. Gross profit reached $354.2 million, representing a gross margin of approximately 72.5%, versus $297.2 million and a margin of approximately 78.6% in FY2024. The current mix reflects a growing contribution from higher-margin U.S. projects with tax benefits, alongside growth in the lower-margin electricity trading business in Israel.
The analyst consensus is “Buy,” with an average target of $93.75, a high of $115, and a low of $65; the average is below the 52-week range high of $108.65, while the high target exceeds that peak. The breadth of the targets, compared with the 52-week range of $27.02–108.65, reflects substantial differences in estimates of the value of the construction and storage portfolio, and therefore the higher FY2026 guidance and growth of the mature portfolio should be weighed against capital expenditure, margin, and execution risks.
Figures in the text are as of 2026-08-29; the live price is shown at the top of the page.
Total revenues and income rose 55% to $210 million in Q2 FY2026, while adjusted EBITDA increased 67% to $160 million. New projects contributed $21 million from electricity sales and $19 million from tax benefits, while existing projects added $12 million. Other contributions included $13 million from foreign exchange rates and $9 million from electricity trading, while net income reached $31 million and operating cash flow totaled $84 million.
In May 2026, Enlight signed an agreement to sell the output of 200 MW from the Solstice solar project in Oklahoma to Google to support its data centers in the region. The agreement represents the company's first commercial contract in the United States and its first power purchase agreement within the Southern Power Pool. The transaction expands the U.S. buyer base beyond utilities, while management said on August 4, 2026 that it was working on similar agreements in other U.S. markets.
The company targets the start of commercial operation for the CO Bar complex in the second half of 2027 and full operation in the first half of 2028, totaling 1,211 MW of solar power and 4,000 MWh of storage. Snowflake A, with 594 MW of solar power and 1,900 MWh of storage, is targeted to begin operating by the end of 2027, while Crimson Orchard is targeted to begin operating in the first half of 2027. Country Acres, with 403 MW of solar power and 688 MWh of storage, is also targeted to begin commercial operation by the end of 2026.
Automated analysis for informational purposes only — not investment advice.
Available liquidity at the corporate level was approximately $1.2 billion at the end of Q2 FY2026, versus around $700 million in remaining equity investments for the mature portfolio. The company raised $350 million during the quarter by expanding its Series G bonds at an interest rate of 4.4%, following a $422 million private equity placement in Q1. It has also secured approximately 69% of the required project financing, while operating cash flow reached $185 million in the first half of FY2026.
In Finland, the company acquired three storage projects with capacity exceeding 1.4 GWh, which are planned to begin operating in the first half of 2028 and generate more than $50 million in adjusted EBITDA in their first full year of operation. The estimated unlevered return for these projects is approximately 16.5%, versus approximately 17% for the Karpen complex in Romania, with 848 MWh of capacity. Management links these returns to the storage shortage and revenues from arbitrage and grid services, while seeking to secure a portion of revenues through contracts that do not eliminate the opportunity to benefit from higher prices.
The 8.4 GW weighted portfolio of projects under construction and in pre-construction requires capital expenditure of approximately $8.9 billion, making cost, timing, and execution quality critical factors. The expansion of Israeli electricity trading also lowers the margin mix, while some European storage returns depend on market prices and balancing services. Potential exposure to U.S. tariffs and import restrictions adds further risk, although management said on August 4, 2026 that supplier diversification, equipment already located within the United States, and cost-sharing mechanisms limit the near-term impact.
