Kenon Holdings' (TLV:KEN) Earnings Are Of Questionable Quality
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Israeli (TA) Utilities Sector Analysis
UpdatedDec 19, 2024
DataAggregated Company Financials
Companies12
- 7D1.9%
- 3M3.6%
- 1Y1.1%
- YTD-1.7%
In the last week, the Utilities industry is up 1.1%, with Energix - Renewable Energies leading the way with a 2.7% gain. This takes the industry's 12 month performance to a gain of 4.1%. In the next few years, earnings are forecast to decline by 60% annually.
Sector Valuation and Performance
Has the Israeli Utilities Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 19 Dec 2024 | ₪37.3b | ₪8.8b | ₪1.3b | 22.9x | 28.1x | 4.2x |
| Sat, 16 Nov 2024 | ₪37.9b | ₪8.8b | ₪310.8m | 32.2x | 121.8x | 4.3x |
| Mon, 14 Oct 2024 | ₪36.3b | ₪8.6b | ₪346.8m | 32x | 104.5x | 4.2x |
| Wed, 11 Sep 2024 | ₪35.6b | ₪8.5b | -₪186,782,595.60 | 31.5x | -190.5x | 4.2x |
| Fri, 09 Aug 2024 | ₪36.1b | ₪8.6b | -₪87,663,513.68 | 33.9x | -411.9x | 4.2x |
| Sun, 07 Jul 2024 | ₪34.1b | ₪8.1b | -₪104,247,429.67 | 29x | -327.2x | 4.2x |
| Tue, 04 Jun 2024 | ₪36.9b | ₪7.8b | -₪234,584,224.95 | 50x | -157.3x | 4.7x |
| Thu, 02 May 2024 | ₪35.1b | ₪7.6b | -₪100,545,349.69 | 33.4x | -349.6x | 4.6x |
| Sat, 30 Mar 2024 | ₪35.5b | ₪7.5b | ₪237.2m | 36.7x | 149.5x | 4.7x |
| Mon, 26 Feb 2024 | ₪34.6b | ₪7.5b | -₪2,772,079,296.31 | 30.8x | -12.5x | 4.6x |
| Wed, 24 Jan 2024 | ₪34.4b | ₪7.9b | -₪3,156,951,667.00 | 30.1x | -10.9x | 4.4x |
| Fri, 22 Dec 2023 | ₪35.3b | ₪7.7b | -₪3,073,076,088.00 | 29.9x | -11.5x | 4.6x |
| Sun, 19 Nov 2023 | ₪30.3b | ₪7.2b | -₪1,676,363,494.00 | 23.6x | -18x | 4.2x |
| Tue, 17 Oct 2023 | ₪29.5b | ₪7.5b | -₪1,816,887,113.00 | 22.4x | -16.2x | 3.9x |
| Thu, 14 Sep 2023 | ₪31.8b | ₪7.1b | -₪2,032,308,391.00 | 29.3x | -15.6x | 4.5x |
| Sat, 12 Aug 2023 | ₪33.3b | ₪6.6b | -₪699,311,227.00 | 33.6x | -47.7x | 5x |
| Mon, 10 Jul 2023 | ₪30.9b | ₪6.4b | -₪743,466,994.00 | 31.3x | -41.5x | 4.8x |
| Wed, 07 Jun 2023 | ₪32.9b | ₪6.3b | ₪290.1m | 23x | 113.4x | 5.2x |
| Fri, 05 May 2023 | ₪32.3b | ₪6.0b | ₪2.5b | 25.4x | 12.8x | 5.4x |
| Sun, 02 Apr 2023 | ₪32.7b | ₪6.0b | ₪1.6b | 45.6x | 20.1x | 5.4x |
| Tue, 28 Feb 2023 | ₪32.6b | ₪5.7b | ₪5.8b | 63.4x | 5.6x | 5.7x |
| Thu, 26 Jan 2023 | ₪36.2b | ₪5.6b | ₪5.3b | 72.2x | 6.8x | 6.5x |
| Sat, 24 Dec 2022 | ₪34.9b | ₪5.6b | ₪5.5b | 74.2x | 6.3x | 6.2x |
| Mon, 21 Nov 2022 | ₪38.3b | ₪5.2b | ₪5.0b | 59.8x | 7.6x | 7.4x |
| Wed, 19 Oct 2022 | ₪39.7b | ₪5.2b | ₪5.1b | 61x | 7.8x | 7.7x |
| Fri, 16 Sep 2022 | ₪41.5b | ₪5.1b | ₪4.6b | 61.9x | 9x | 8.2x |
| Sun, 14 Aug 2022 | ₪44.4b | ₪4.8b | ₪4.4b | 53.5x | 10x | 9.3x |
| Tue, 12 Jul 2022 | ₪36.3b | ₪4.8b | ₪4.7b | 48.6x | 7.7x | 7.5x |
| Thu, 09 Jun 2022 | ₪37.1b | ₪4.8b | ₪4.5b | 52x | 8.3x | 7.8x |
| Sat, 07 May 2022 | ₪38.0b | ₪4.5b | ₪2.9b | 71.5x | 13x | 8.5x |
| Mon, 04 Apr 2022 | ₪41.0b | ₪4.3b | ₪2.6b | 59.3x | 15.9x | 9.4x |
| Wed, 02 Mar 2022 | ₪40.0b | ₪4.1b | ₪1.8b | 119.4x | 22.4x | 9.7x |
| Fri, 28 Jan 2022 | ₪37.2b | ₪4.1b | ₪1.8b | 112.3x | 21.1x | 9x |
| Sun, 26 Dec 2021 | ₪37.1b | ₪4.0b | ₪1.8b | 135.3x | 20.8x | 9.3x |
Price to Earnings Ratio
20.8x
Current Industry PE
- Investors are pessimistic on the Israeli Utilities industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 27.9x which is higher than its 3-year average PE of -20.3x.
- The 3-year average PS ratio of 6.0x is higher than the industry's current PS ratio of 4.2x.
Past Earnings Growth
- The earnings for companies in the Utilities industry have declined 9.3% per year over the last three years.
- Meanwhile revenues for these companies have grown 31% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Israeli Utilities sector?
| IL Market | 0.24% | |
| Utilities | 1.85% | |
| Renewable Energy | 1.85% | |
| Electric Utilities | 0% | |
| Gas Utilities | 0% | |
| Other Utilities | 0% | |
| Water Utilities | 0% | |
Industry PE
- Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio.
- Analysts are expecting annual earnings decline of 59.5%, which is worse than the prior year's decline of 25.4%.
- Investors are most pessimistic about the Renewable Energy industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
- Despite it being negative, analysts are least pessimistic on the Renewable Energy industry since they expect its earnings to decline by only 60% per year over the next 5 years, which isn't as bad as the other industries.
- This is even lower than its past earnings decline of 25% per year.
- In contrast, the Renewable Energy industry is expected to see its earnings decline by 60% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| ENRG Energix - Renewable Energies | ₪12.37 | 2.7% +₪175.8m | -10.7% | PE26.6x | |
| DORL Doral Group Renewable Energy Resources | ₪13.15 | 6.4% +₪140.4m | 65.2% | PE30.4x | |
| MSKE Meshek Energy - Renewable Energies | ₪2.17 | 7.3% +₪105.2m | -32.4% | PS16.1x | |
| ECNR Econergy Renewable Energy | ₪25.53 | 9.9% +₪105.0m | 91.7% | PE19.2x | |
| OPCE OPC Energy | ₪30.13 | 1.2% +₪92.1m | 24.0% | PE72.7x |
