Latest Ratios: P/E Ratio 73.4x · EV/EBITDA 37.8x · ROE 11.8%. (2011–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $11.4B | $6.0B | $2.1B | $2.4B | — | — | — | — | — | — | — |
| Enterprise Value | $16.1B | $20.1B | $4.9B | $4.7B | — | — | — | — | — | — | — |
| P/E Ratio → | 73.44 | 13.29 | 13.27 | 9.25 | — | — | — | — | — | — | — |
| P/S Ratio | 20.85 | 3.59 | 5.33 | 9.08 | — | — | — | — | — | — | — |
| P/B Ratio | 5.33 | 0.97 | 1.48 | 1.65 | — | — | — | — | — | — | — |
| P/FCF | — | — | — | 15.84 | — | — | — | — | — | — | — |
| P/OCF | 48.37 | 8.34 | 10.84 | 15.84 | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 11.99 | 12.18 | 17.87 | — | — | — | — | — | — | — |
| EV / EBITDA | 37.82 | 15.51 | 17.08 | 20.84 | — | — | — | — | — | — | — |
| EV / EBIT | 62.71 | 25.72 | 26.43 | 24.91 | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | 31.19 | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 41.8% | 41.8% | 52.5% | 54.6% | 57.0% | 59.8% | 57.4% | 61.8% | 53.0% | 45.6% | 32.8% |
| Operating Margin | 46.6% | 46.6% | 44.0% | 60.6% | 47.2% | 33.6% | 40.3% | 42.1% | 22.6% | -2.3% | -11.6% |
| Net Profit Margin | 27.0% | 27.0% | 11.1% | 27.2% | 12.9% | 10.9% | -62.4% | -9.1% | 3.3% | 3.0% | 11.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.8% | 11.8% | 3.1% | 5.7% | 2.7% | 1.8% | -9.7% | -1.0% | 0.5% | 0.3% | 1.4% |
| ROA | 2.8% | 2.8% | 0.9% | 1.7% | 0.8% | 0.5% | -2.8% | -0.2% | 0.1% | 0.1% | 0.2% |
| ROIC | 4.8% | 4.8% | 3.3% | 3.5% | 2.6% | 1.4% | 1.7% | 1.0% | 0.6% | -0.0% | -0.2% |
| ROCE | 5.8% | 5.8% | 3.9% | 4.4% | 3.1% | 1.7% | 2.1% | 1.2% | 0.8% | -0.1% | -0.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.73 | 2.73 | 2.16 | 1.88 | 2.06 | 2.40 | 2.28 | 2.06 | 3.53 | 3.07 | 3.79 |
| Debt / EBITDA | 13.15 | 13.15 | 10.96 | 12.05 | 16.26 | 33.15 | 26.49 | 23.31 | 71.47 | — | — |
| Net Debt / Equity | — | 2.25 | 1.90 | 1.60 | 1.87 | 2.05 | 1.92 | 1.41 | 3.16 | 2.82 | 3.26 |
| Net Debt / EBITDA | 10.86 | 10.86 | 9.60 | 10.25 | 14.80 | 28.30 | 22.26 | 15.97 | 63.97 | — | — |
| Debt / FCF | — | — | — | 15.34 | — | 29.87 | — | — | — | — | — |
| Interest Coverage | 1.38 | 1.38 | 1.86 | 2.99 | 1.83 | 1.89 | -0.75 | 1.16 | 0.27 | 1.18 | 0.23 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.67 | 0.67 | 1.20 | 1.14 | 1.10 | 2.06 | 0.84 | 2.69 | 1.54 | 1.98 | 2.47 |
| Quick Ratio | 0.67 | 0.67 | 1.20 | 1.14 | 1.10 | 2.06 | 0.84 | 2.69 | 1.54 | 1.98 | 2.47 |
| Cash Ratio | 0.58 | 0.58 | 0.65 | 0.70 | 0.60 | 1.52 | 0.67 | 2.39 | 0.86 | 1.31 | 2.33 |
| Asset Turnover | — | 0.06 | 0.07 | 0.06 | 0.05 | 0.04 | 0.04 | 0.04 | 0.03 | 0.02 | 0.02 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | 149.5% | 378.7% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.4% | 7.5% | 7.5% | 10.8% | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | 6.3% | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — | — | — |
| Shares Outstanding | — | $133M | $123M | $124M | $100M | $98M | $78M | $62M | $53M | $49M | $36M |
Geopolitical and execution concentration
With a TTM P/E of 75.87, Enlight trades at a significant premium to traditional utility peers, reflecting market expectations for rapid capacity expansion rather than stable dividend-driven returns, as noted in recent market data and the company's current $86.44 share price.
The valuation appears anchored to the company's 19GW+ development pipeline rather than current earnings, which remain volatile due to project-based accounting. Investors should monitor whether the market's growth-oriented pricing holds as the company transitions toward a more mature, recurring revenue IPP model.
Based on reported figures, the company maintains a debt-to-capital ratio of approximately 0.69, which, when paired with a substantial $2.97 billion cash position, suggests a deliberate strategy to self-fund capital-intensive projects while minimizing reliance on volatile external credit markets.
The current leverage profile appears designed to provide maximum flexibility during the construction phase of its global portfolio. While the debt-to-capital ratio is elevated, the significant cash buffer mitigates immediate solvency concerns, though analysts should watch for potential dilution if equity continues to be the primary funding source.
As reported in financial comparisons, Enlight's P/B ratio of 5.51 significantly exceeds that of peers like Clearway Energy, indicating that the market assigns a higher value to Enlight's proprietary development pipeline and its unique ability to navigate complex land-use regulations in Israel and the U.S.
This valuation gap suggests that investors view Enlight as a developer-operator hybrid rather than a pure-play yield vehicle. The premium warrants further investigation into whether the company's execution track record in the U.S. can consistently justify such a divergence from more mature renewable IPPs.
The most commonly misapplied metric for Enlight is the standard dividend yield, which is currently non-existent, leading some analysts to incorrectly categorize the firm as a growth-stagnant utility rather than a capital-reinvesting developer, as evidenced by the company's lack of dividend payouts in recent filings.
Applying traditional utility valuation frameworks that prioritize dividend yield obscures the company's actual strategy of aggressive capital reinvestment. Investors should instead focus on the internal rate of return (IRR) of the development backlog and the efficiency of capital deployment into new operational assets.
Includes 30+ ratios · 15 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying ENLT stock.
Enlight Renewable Energy Ltd's current P/E ratio is 73.4x. The historical average is 11.9x. This places it at the 100th percentile of its historical range.
Enlight Renewable Energy Ltd's current EV/EBITDA is 37.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.8x.
Enlight Renewable Energy Ltd's return on equity (ROE) is 11.8%. The historical average is 4.6%.
Based on historical data, Enlight Renewable Energy Ltd is trading at a P/E of 73.4x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Enlight Renewable Energy Ltd has 41.8% gross margin and 46.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Enlight Renewable Energy Ltd's Debt/EBITDA ratio is 13.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.