Kenon Holdings Valuation

Q: What is the Fair Price of 76N when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

76N (€26.8) is trading below our estimate of [[fair value]] (€82.01)

Is 76N undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 76N when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 76N (€26.8) is trading below our estimate of fair value (€82.01)

Significantly Below Fair Value: 76N is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 76N?

Key metric: As 76N is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 76N. This is calculated by dividing 76N's market cap by their current earnings.
What is 76N's PE Ratio?
PE Ratio	9.4x
Earnings	US$170.02m
Market Cap	US$1.59b

76N key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	4.5x
Enterprise Value/EBITDA	22.5x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does 76N's PE Ratio compare to its peers?

The above table shows the PE ratio for 76N vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	15.8x
AB9 ABO Energy GmbH KGaA	12x	17.1%	€355.9m
RWE RWE	7.7x	-10.3%	€21.8b
MVV1 MVV Energie	11.1x	n/a	€2.0b
MNV6 Mainova	32.6x	n/a	€1.9b
76N Kenon Holdings	9.4x	n/a	€5.7b

Price-To-Earnings vs Peers: 76N is good value based on its Price-To-Earnings Ratio (9.4x) compared to the peer average (15.8x).

Price to Earnings Ratio vs Industry

How does 76N's PE Ratio compare vs other companies in the European Renewable Energy Industry?

1 Company	Price / Earnings	Estimated Growth	Market Cap

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 76N is good value based on its Price-To-Earnings Ratio (9.4x) compared to the European Renewable Energy industry average (15.9x).

Price to Earnings Ratio vs Fair Ratio

What is 76N's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

76N PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	9.4x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 76N's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.