ENLT

Company Overview — What Does Enlight Renewable Energy Ltd. Do?

Our mission is to lead the renewable energy transition globally, by delivering solar energy, wind energy, and energy storage projects at scale. We have created a next-generation global renewables platform and we seek to leverage its capabilities to deliver value for both our shareholders and our planet. We are a global renewable energy platform, founded in 2008 and publicly traded on the Tel Aviv Stock Exchange since 2010. We develop, finance, construct, own and operate utility-scale renewable energy projects. We primarily generate revenue from the sale of electricity produced by our renewable energy facilities, pursuant to long-term PPAs. Our control over the entire project life cycle, from greenfield development to ownership and operations, enables us to deliver strong project returns and rapid growth. Furthermore, we distinguish ourselves through our diverse global presence and multi-technology capabilities, which allow us to strategically optimize our capital allocation between geographies and renewable technologies to deliver highly profitable projects at reduced risk. As of the Approval Date, our global portfolio of utility-scale, renewable energy projects included approximately 17.0 GW of multi-technology generation capacity and approximately 15.3 GWh of energy storage capacity, of which approximately 4.0 GW and approximately 2.1 GWh, respectively, are from Mature Projects. We act as both a project developer and a power producer, controlling the entire project life cycle in between. Our successful track record and expertise in project development, having reached ready to build (“RTB”) status on projects with an aggregate capacity of over 3.5 GW globally (including projects developed by Clenera prior to the Clenera Acquisition) from our founding to the Approval Date, enables us to identify and deliver highly profitable projects. Our in-house project development capability, which includes extensive greenfield development capabilities across our largest markets, gives us access to projects that we believe many of our competitors (both strategic and financial investors) either could not access or could not access at an attractive cost. Our development arm also serves as our organic growth engine, providing us with significant levels of visibility into the future of our business through our large project pipeline. Moreover, as a power producer with approximately 1.4 GW of capacity across our Operational Projects as of the Approval Date, we benefit from steady long-term, contracted cash flow, which we believe will increase as our projects under construction, in pre-construction or with signed PPAs, including approximately 2.5 GW of generation capacity and approximately 2.1 GWh of energy storage capacity, reach commercial operation. These long-term cash flows facilitate the financing of our overall activity at a competitive cost of capital. Since our founding in 2008, we have transformed into a global renewable energy platform, operating across 11 different countries on three continents and across multiple technologies. From a technological perspective, we develop wind energy and solar energy projects, as well as energy storage projects, both collocated with solar energy projects and on a standalone basis. From a geographical perspective, we operate at scale in nine different countries throughout Europe, in 17 U.S. states and in Israel. Our global platform includes what we believe are some of the largest onshore wind and solar projects across the United States, Western Europe, CEE and Israel, which are either operational, under construction, pre-construction or with signed PPAs, highlighting our ability to identify and deliver projects of scale across our global platform. In August 2021, we established our operations in the United States through the acquisition of Clenera, a U.S.-based greenfield developer of utility-scale solar energy and energy storage projects, with a focus on the Western United States. Of our 4.0 GW of Mature Projects, 1.7 GW was located in the United States through Clenera as of the Approval Date. We believe that our unique breadth of market presence and multi-technology capabilities enable us to optimize our capital allocation, based on power market fundamentals, changing regulatory environments, supply chain access and other considerations, while also diversifying our portfolio of projects and limiting our exposure to individual market disruptions. Our control over the entire project life cycle coupled with our strategic approach to market and technology selection has enabled us to both develop projects with differentiated returns on investment and deliver rapid growth. Multiplying the sum of our Segment Adjusted EBITDA(1) for each of the Israel, Central Eastern Europe and Western Europe segments for the three months ended September 30, 2022 (as presented in Note 7 to our consolidated financial statements for the nine months ended September 30, 2022 included elsewhere in this prospectus) by four (in order to have it annualized(2)) and dividing the resulting amount by approximately $1.6 billion, which is the aggregated amount of invested capital(3) in our projects that were operational as of July 1, 2022 (and therefore contributed to our Segment Adjusted EBITDA for the three months ended September 30, 2022), results in a ratio of 11.5%. Additionally, the aggregate capacity of our Mature Projects has increased by an approximate 60% compounded annual growth rate (“CAGR”) from 2016 to 2021. --- Finally, our management team, led by our co-founder and Chief Executive Officer, Gilad Yavetz, has successfully navigated the evolving global renewables industry for over 14 years. By building a unique global renewable energy platform focused on delivering profitable projects and robust accretive growth, our management has created significant shareholder value. Our ordinary share price on the TASE has increased at an approximate 37% CAGR over the last five years compared to the S&P 500 index, which increased at an approximate 7% CAGR, and the S&P Renewables index which, increased at an approximate 17% CAGR. Over the last five years, Enlight’s share price has increased by approximately 390%, outperforming the S&P Renewables index by more than 275%. We note, however, that the companies included in the S&P 500 index and the S&P Renewables index differ from ours and that the future results of our business and operations may differ from our historical results. (1) We define Segment Adjusted EBITDA as operating profit adjusted to add the Financial Asset Payments, depreciation and amortization, share based compensation and U.S. acquisition expense. (2) We use an annualized total amount of Segment Adjusted EBITDA given the rapid growth of our Operational Projects between quarters in 2022, which resulted in rapid growth in our Segment Adjusted EBITDA in between quarters. In addition, our geographic and technological diversity substantially mitigates any seasonal effects. (3) Invested capital in a project reflects the total cost we incurred to complete the development and construction of such project. We are incorporated in Israel under the Israeli Companies Law, 5759-1999 (the “Companies Law”). Our principal executive offices are located at 13 Amal St., Afek Industrial Park, Rosh Ha'ayin 4809249, Israel. Enlight Renewable Energy Ltd. (ENLT) is classified as a large-cap stock in the Utilities sector. The company is led by CEO Gilad Yavetz and employs approximately 100 people. With a market capitalization of $10.9B, ENLT is one of the prominent companies in the Utilities sector.

Enlight Renewable Energy Ltd. (ENLT) Stock Rating — Buy (March 2026)

As of March 2026, Enlight Renewable Energy Ltd. receives a Buy rating with a composite score of 54.4/100 and 4 out of 5 stars from the Blank Capital Research quantitative model.ENLT ranks #339 out of 4,446 stocks in our coverage universe. Within the Utilities sector, Enlight Renewable Energy Ltd. ranks #30 of 110 stocks, placing it in the upper half of its Utilities peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

ENLT Stock Price and 52-Week Range

Enlight Renewable Energy Ltd. (ENLT) currently trades at $70.18. The stock gained $1.25 (1.8%) in the most recent trading session. Recent trading volume was 92K shares, suggesting relatively thin trading activity.

Is ENLT Overvalued or Undervalued? — Valuation Analysis

Enlight Renewable Energy Ltd. (ENLT) carries a value factor score of 52/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The price-to-book ratio stands at 8.08x, versus the sector average of 2.03x. The price-to-sales ratio is 5.44x, compared to 1.06x for the average Utilities stock. On an enterprise value basis, ENLT trades at 15.04x EV/EBITDA, versus 6.10x for the sector.

Overall, ENLT's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.

Enlight Renewable Energy Ltd. Profitability — ROE, Margins, and Quality Score

Enlight Renewable Energy Ltd. (ENLT) earns a quality factor score of 29/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is 22.5%, compared to the Utilities sector average of 9.8%, which demonstrates strong shareholder value creation. Return on assets (ROA) comes in at 4.8% versus the sector average of 3.2%.

On a margin basis, Enlight Renewable Energy Ltd. reports gross margins of 0.0%, compared to 53.3% for the sector. The operating margin is 35.4% (sector: 21.7%). Net profit margin stands at 15.2%, versus 12.8% for the average Utilities stock. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

ENLT Debt, Balance Sheet, and Financial Health

Enlight Renewable Energy Ltd. has a debt-to-equity ratio of 210.0%, compared to the Utilities sector average of 175.0%. This elevated leverage warrants close monitoring, as it increases the company's sensitivity to rising interest rates and economic downturns. Total debt on the balance sheet is $2.47B. Cash and equivalents stand at $387M.

ENLT has a beta of 0.68, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for Enlight Renewable Energy Ltd. is 59/100, reflecting average volatility within the normal range for its sector.

Enlight Renewable Energy Ltd. Revenue and Earnings History — Quarterly Trend

In TTM 2026, Enlight Renewable Energy Ltd. reported revenue of $439M. Net income for the quarter was $67M. Gross margin was 0.0%. Operating income came in at $155M.

In FY 2024, Enlight Renewable Energy Ltd. reported revenue of $439M. Net income for the quarter was $67M. Gross margin was 0.0%. Revenue grew 71.6% year-over-year compared to FY 2023. Operating income came in at $155M.

In FY 2023, Enlight Renewable Energy Ltd. reported revenue of $256M and earnings per share (EPS) of $0.61. Net income for the quarter was $98M. Gross margin was 0.0%. Revenue grew 17.9% year-over-year compared to FY 2022. Operating income came in at $158M.

In FY 2022, Enlight Renewable Energy Ltd. reported revenue of $217M and earnings per share (EPS) of $0.25. Net income for the quarter was $38M. Gross margin was 0.0%. Revenue grew 90.8% year-over-year compared to FY 2021. Operating income came in at $81M.

Over the past 5 quarters, Enlight Renewable Energy Ltd. has demonstrated a growth trajectory, with revenue expanding from $114M to $439M. Investors analyzing ENLT stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

ENLT Dividend Yield and Income Analysis

Enlight Renewable Energy Ltd. (ENLT) does not currently pay a dividend. This is common among growth-oriented companies in the Utilities industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Utilities dividend stocks may want to explore other Utilities stocks or use the stock screener to filter by dividend yield.

ENLT Momentum and Technical Analysis Profile

Enlight Renewable Energy Ltd. (ENLT) has a momentum factor score of 94/100, indicating strong price momentum with the stock outperforming the majority of the market over recent periods. Stocks with high momentum scores have historically tended to continue their outperformance in the near term. The investment factor score is 34/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 52/100 reflects moderate short selling activity.

ENLT vs Competitors — Utilities Sector Ranking and Peer Comparison

Within the Utilities sector, Enlight Renewable Energy Ltd. (ENLT) ranks #30 out of 110 stocks based on the Blank Capital composite score. This places ENLT in the upper half of all Utilities stocks in our coverage universe. Key competitors and sector peers include Brookfield Infrastructure Corp (BIPC) with a score of 61.1/100, Antero Midstream Corp (AM) with a score of 57.1/100, Southwest Gas Holdings, Inc. (SWX) with a score of 58.6/100, NEXTERA ENERGY INC (NEE) with a score of 57.3/100, and CENTERPOINT ENERGY INC (CNP) with a score of 61.1/100.

Comparing ENLT against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full ENLT vs S&P 500 (SPY) comparison to assess how Enlight Renewable Energy Ltd. stacks up against the broader market across all factor dimensions.

ENLT Next Earnings Date

No upcoming earnings date has been announced for Enlight Renewable Energy Ltd. (ENLT) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy ENLT? — Investment Thesis Summary

The bull case for Enlight Renewable Energy Ltd. rests on several quantitative strengths. The quality score of 29/100 flags below-average profitability. Price momentum is positive at 94/100, suggesting the trend favors buyers.

In summary, Enlight Renewable Energy Ltd. (ENLT) earns a Buy rating with a composite score of 54.4/100 as of March 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on ENLT stock.

Related Resources for ENLT Investors

Explore more research and tools: ENLT vs S&P 500 comparison, top Utilities stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare ENLT head-to-head with peers: ENLT vs BIPC, ENLT vs AM, ENLT vs SWX.