공고 • Jun 13
The Kenya Power and Lighting Company Plc to Report Fiscal Year 2026 Results on Sep 30, 2026 The Kenya Power and Lighting Company Plc announced that they will report fiscal year 2026 results on Sep 30, 2026 Reported Earnings • Feb 19
First half 2026 earnings released: EPS: KSh5.33 (vs KSh5.11 in 1H 2025) First half 2026 results: EPS: KSh5.33 (up from KSh5.11 in 1H 2025). Revenue: KSh114.9b (up 6.9% from 1H 2025). Net income: KSh10.4b (up 4.3% from 1H 2025). Profit margin: 9.1% (down from 9.3% in 1H 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has increased by 125% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Feb 17
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 11% Last year net profit margin: 18% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (11% net profit margin). Upcoming Dividend • Feb 17
Upcoming dividend of KSh0.30 per share Eligible shareholders must have bought the stock before 24 February 2026. Payment date: 27 March 2026. Payout ratio is a comfortable 8.0% and this is well supported by cash flows. Trailing yield: 5.4%. Lower than top quartile of Kenyan dividend payers (6.3%). Higher than average of industry peers (4.0%). New Risk • Dec 01
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 73% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (73% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Nov 26
Upcoming dividend of KSh0.80 per share Eligible shareholders must have bought the stock before 03 December 2025. Payment date: 30 January 2026. Payout ratio is a comfortable 8.0% and this is well supported by cash flows. Trailing yield: 7.2%. Within top quartile of Kenyan dividend payers (7.0%). Higher than average of industry peers (4.2%). 공고 • Nov 06
The Kenya Power and Lighting Company Plc, Annual General Meeting, Nov 28, 2025 The Kenya Power and Lighting Company Plc, Annual General Meeting, Nov 28, 2025, at 11:00 E. Africa Standard Time. Reported Earnings • Oct 10
Full year 2025 earnings released: EPS: KSh12.54 (vs KSh15.41 in FY 2024) Full year 2025 results: EPS: KSh12.54 (down from KSh15.41 in FY 2024). Revenue: KSh219.3b (down 5.1% from FY 2024). Net income: KSh24.5b (down 19% from FY 2024). Profit margin: 11% (down from 13% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 96% per year and the company’s share price has also increased by 96% per year. New Risk • Aug 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (61% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Dividend is not well covered by cash flows (130% cash payout ratio). New Risk • Jul 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Kenyan stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (61% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.9% average weekly change). New Risk • Mar 13
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: KSh12.7b (US$98.3m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (61% accrual ratio). Minor Risks Dividend is not well covered by cash flows (130% cash payout ratio). Share price has been volatile over the past 3 months (8.8% average weekly change). Market cap is less than US$100m (KSh12.7b market cap, or US$98.3m). Upcoming Dividend • Feb 24
Upcoming dividend of KSh0.20 per share Eligible shareholders must have bought the stock before 03 March 2025. Payment date: 11 April 2025. Payout ratio is a comfortable 4.5% but the company is paying out more than the cash it is generating. Trailing yield: 5.7%. Lower than top quartile of Kenyan dividend payers (9.5%). Higher than average of industry peers (3.3%). New Risk • Feb 06
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 61% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). High level of non-cash earnings (61% accrual ratio). Minor Risk Dividend is not well covered by cash flows (130% cash payout ratio). Reported Earnings • Nov 30
Full year 2024 earnings released: EPS: KSh15.41 (vs KSh1.64 loss in FY 2023) Full year 2024 results: EPS: KSh15.41 (up from KSh1.64 loss in FY 2023). Revenue: KSh231.1b (up 21% from FY 2023). Net income: KSh30.1b (up KSh33.3b from FY 2023). Profit margin: 13% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Nov 26
Upcoming dividend of KSh0.70 per share Eligible shareholders must have bought the stock before 03 December 2024. Payment date: 31 January 2025. The company last paid an ordinary dividend in October 2014. The average dividend yield among industry peers is 3.2%. 공고 • Nov 08
The Kenya Power and Lighting Company PLC, Annual General Meeting, Nov 29, 2024 The Kenya Power and Lighting Company PLC, Annual General Meeting, Nov 29, 2024, at 11:00 E. Africa Standard Time. Reported Earnings • Oct 30
Full year 2024 earnings released: EPS: KSh15.41 (vs KSh1.64 loss in FY 2023) Full year 2024 results: EPS: KSh15.41 (up from KSh1.64 loss in FY 2023). Revenue: KSh231.1b (up 21% from FY 2023). Net income: KSh30.1b (up KSh33.3b from FY 2023). Profit margin: 13% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. New Risk • Sep 15
New major risk - Revenue and earnings growth Earnings have declined by 14% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 14% per year over the past 5 years. Minor Risk Market cap is less than US$100m (KSh5.19b market cap, or US$40.4m). New Risk • Aug 29
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended June 2023. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported June 2023 fiscal period end). Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risk Market cap is less than US$100m (KSh4.62b market cap, or US$36.0m). New Risk • Apr 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Kenyan stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.9x net interest cover). Earnings have declined by 12% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Share price has been volatile over the past 3 months (6.6% average weekly change). Market cap is less than US$100m (KSh3.04b market cap, or US$23.2m). New Risk • Mar 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.9x net interest cover). Earnings have declined by 12% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (KSh3.02b market cap, or US$22.6m). New Risk • Dec 11
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.9x net interest cover). Earnings have declined by 12% per year over the past 5 years. Minor Risk Market cap is less than US$100m (KSh2.73b market cap, or US$17.8m). New Risk • Sep 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 4.3% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Market cap is less than US$100m (KSh2.95b market cap, or US$20.1m). New Risk • Aug 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 4.3% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Market cap is less than US$100m (KSh3.01b market cap, or US$20.7m). Reported Earnings • Jan 18
Full year 2022 earnings released: EPS: KSh1.80 (vs KSh0.76 in FY 2021) Full year 2022 results: EPS: KSh1.80 (up from KSh0.76 in FY 2021). Revenue: KSh157.4b (up 9.2% from FY 2021). Net income: KSh3.50b (up 135% from FY 2021). Profit margin: 2.2% (up from 1.0% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Global Electric Utilities industry. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Price Target Changed • Nov 16
Price target increased to KSh2.00 Up from KSh1.39, the current price target is provided by 1 analyst. New target price is 21% above last closing price of KSh1.65. Stock is down 7.3% over the past year. The company posted earnings per share of KSh0.76 last year. Price Target Changed • Jun 10
Price target increased to KSh1.78 Up from KSh1.39, the current price target is provided by 1 analyst. New target price is 20% above last closing price of KSh1.48. Stock is up 11% over the past year. The company posted earnings per share of KSh0.76 last year. Price Target Changed • Apr 27
Price target increased to KSh1.61 Up from KSh1.39, the current price target is an average from 3 analysts. New target price is 15% above last closing price of KSh1.40. Stock is down 0.7% over the past year. The company posted earnings per share of KSh0.76 last year. Board Change • Apr 27
Less than half of directors are independent There are 11 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 11 new directors. No experienced directors. 1 highly experienced director. 1 independent director (11 non-independent directors). Non-Executive Director Joseph Njoroge is the most experienced director on the board, commencing their role in 2013. Independent Non-Executive Chairman of the Board Vivienne Yeda was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Price Target Changed • Nov 20
Price target increased to KSh1.53 Up from KSh1.39, the current price target is an average from 2 analysts. New target price is 11% below last closing price of KSh1.71. Stock is up 6.2% over the past year. The company posted earnings per share of KSh0.76 last year. Price Target Changed • Nov 17
Price target decreased to KSh1.39 Down from KSh1.57, the current price target is an average from 2 analysts. New target price is 22% below last closing price of KSh1.78. Stock is up 9.2% over the past year. The company posted a net loss per share of KSh0.48 last year. Price Target Changed • Feb 27
Price target lowered to KSh1.57 Down from KSh1.70, the current price target is provided by 1 analyst. The new target price is 6.1% above the current share price of KSh1.48. As of last close, the stock is down 37% over the past year. Is New 90 Day High Low • Dec 04
New 90-day low: KSh1.34 The company is down 29% from its price of KSh1.90 on 04 September 2020. The Kenyan market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electric Utilities industry, which is up 5.0% over the same period. Is New 90 Day High Low • Nov 04
New 90-day low: KSh1.71 The company is down 10.0% from its price of KSh1.91 on 06 August 2020. The Kenyan market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electric Utilities industry, which is down 1.0% over the same period. Is New 90 Day High Low • Oct 20
New 90-day low: KSh1.73 The company is down 8.0% from its price of KSh1.89 on 22 July 2020. The Kenyan market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electric Utilities industry, which is down 6.0% over the same period. Is New 90 Day High Low • Sep 19
New 90-day low: KSh1.81 The company is down 2.0% from its price of KSh1.84 on 19 June 2020. The Kenyan market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electric Utilities industry, which is down 9.0% over the same period.