Enlight Renewable Energy Ltd
- Open
- 86.63
- Day high
- 89.46
- Day low
- 86.27
- Prev close
- 86.38
- Volume
- 201K
- Mkt cap
- $12.4B
- P/E (TTM)
- 123.3
- EPS (TTM)
- $0.72
- P/B
- 5.8
- P/S
- 7.3
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$29.7M over the last 3 months (0 open-market buys, 33 sales)
- 🏛Institutions accumulating (13F)
Enlight Renewable Energy Ltd (ENLT) is a Utilities company listed on NASDAQ. The stock is up 277% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 33 sales (SEC Form 4). Drillr has 1 published research article covering ENLT.
Enlight Renewable Energy Ltd (ENLT) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ENLT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $0.07 | $0.08 | +14.3% | $156M | -23.0% |
| Feb 17, 2026 | $-0.07 | $0.32 | +563.1% | $402M | +135.6% |
| Nov 12, 2025 | $0.07 | $0.16 | +128.6% | $139M | -5.3% |
| Feb 19, 2025 | $-0.12 | $0.04 | +133.3% | $31M | -69.4% |
| Nov 20, 2023 | $0.09 | $0.13 | +44.4% | $15M | — |
| May 11, 2023 | $0.10 | $0.20 | +100.0% | $6M | — |
| Feb 13, 2023 | — | $0.02 | — | $20M | — |
| Nov 21, 2022 | — | $0.60 | — | $15M | — |
| Aug 21, 2022 | — | $-0.10 | — | $11M | — |
| May 24, 2022 | — | $0.20 | — | $11M | — |
| Nov 14, 2021 | — | $-0.02 | — | $23M | — |
| Aug 28, 2021 | — | $0.10 | — | $23M | — |
ENLT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 2, 2026 | Cohen Israeli Ayeletofficer: VP OPERATIONS | Option | 9,000 | $23.22 |
| Jun 2, 2026 | Cohen Israeli Ayeletofficer: VP OPERATIONS | Sell | 6,873 | $108.50 |
| Jun 2, 2026 | Cohen Israeli Ayeletofficer: VP OPERATIONS | Tax | 2,127 | $108.50 |
| Jun 1, 2026 | Tzuk Michaldirector | Sell | 2,400 | $105.86 |
| Jun 1, 2026 | Haimovitz Lisaofficer: VP, GENERAL COUNSEL | Sell | 746 | $103.88 |
| Jun 1, 2026 | Haimovitz Lisaofficer: VP, GENERAL COUNSEL | Tax | 200 | $103.88 |
| Jun 1, 2026 | Haimovitz Lisaofficer: VP, GENERAL COUNSEL | Option | 946 | $19.87 |
| Jun 1, 2026 | SEROUSSI YAIRdirector, other: VICE CHAIRMAN OF THE BOARD | Sell | 12,036 | $102.24 |
| Jun 1, 2026 | Felder Alladirector | Sell | 2,500 | $102.48 |
| Jun 1, 2026 | SEROUSSI YAIRdirector, other: VICE CHAIRMAN OF THE BOARD | Tax | 3,964 | $102.24 |
| Jun 1, 2026 | SEROUSSI YAIRdirector, other: VICE CHAIRMAN OF THE BOARD | Option | 16,000 | $23.22 |
| May 28, 2026 | Betzalel Yitzhakdirector | Sell | 400 | $103.52 |
| May 28, 2026 | Betzalel Yitzhakdirector | Sell | 600 | $102.96 |
| May 28, 2026 | Betzalel Yitzhakdirector | Sell | 1,346 | $101.73 |
| May 28, 2026 | Carr Meronofficer: SVP, STRATEGIC PROJECTS | Sell | 3,329 | $103.44 |
Source: ENLT SEC Form 4 filings, latest Jun 2, 2026. For informational purposes only — not investment advice.
See the full ENLT insider & 13F page →Enlight Renewable Energy Ltd company profile
Overview
Enlight Renewable Energy Ltd (NASDAQ:ENLT) is an Israeli renewable energy company that went public on the NASDAQ in January 2023. Founded in 1981 and headquartered in Rosh HaAyin, Israel, the company has evolved from its origins into a global renewable energy platform that develops, constructs, and operates utility-scale renewable energy projects across Israel, Europe, and the United States. The company has experienced rapid growth since its IPO, expanding its operational capacity from 1.9 gigawatts in 2023 to 2.5 gigawatts by the end of 2024, with ambitious plans to triple its generation capacity to 6 gigawatts by 2027.
Business
Enlight operates as a comprehensive renewable energy platform that specializes in utility-scale clean energy projects. The company's core business involves the complete lifecycle management of renewable energy projects - from initial site identification and development through construction, financing, and long-term operation. The company operates three main types of renewable energy technologies. Solar photovoltaic projects convert sunlight directly into electricity using large arrays of solar panels, typically installed on ground-mounted systems across hundreds of acres. Wind energy projects use large turbines to capture wind energy and convert it to electricity, requiring strategic placement in areas with consistent wind patterns. Energy storage systems, primarily using battery technology, store electricity generated during peak production periods and release it when demand is high or renewable generation is low, helping to stabilize the electrical grid. Based on recent financial performance, the company's revenue is geographically diversified with approximately 34% denominated in Israeli Shekels, 39% in Euros, and 27% in US Dollars. The US market represents the company's fastest-growing segment and is expected to become increasingly significant, with management projecting it will grow from 15% of EBITDA in 2025 to a higher percentage in subsequent years. The European operations, particularly in Spain, contribute significantly to current revenues, while the Israeli market remains the company's original base of operations. The company's project portfolio spans multiple development stages, from early-stage development through operational assets. As of 2024, Enlight has 2.5 gigawatts of operational generation capacity and 1.9 gigawatt-hours of energy storage capacity, with an advanced development pipeline that includes potential for 4 gigawatts of additional generation and 14 gigawatts of storage capacity.
Revenue model
Enlight generates revenue primarily through electricity sales under long-term power purchase agreements (PPAs) with utilities, corporations, and government entities. These contracts typically span 15-25 years and provide predictable cash flows by locking in electricity prices. The company also generates revenue from capacity payments for its energy storage systems, which provide grid stabilization services, and from tax credit monetization in the US market through programs like the Investment Tax Credit (ITC) and Production Tax Credit (PTC). The company's customers include electric utilities that need renewable energy to meet regulatory requirements and corporate sustainability goals, large corporations seeking to purchase clean energy directly through corporate PPAs, and grid operators who pay for energy storage services that help balance electricity supply and demand. In 2024, approximately 90% of the company's generation output was sold at fixed prices, providing revenue stability. Several factors influence Enlight's profitability margins. Favorable factors include declining equipment costs (solar panel prices dropped 25-30% in 2023-2024), rising electricity demand driven by data centers and electric vehicle adoption, and the company's ability to secure interconnection rights which provide competitive advantages in PPA negotiations. The company has also successfully renegotiated existing PPAs, achieving price increases of 17-25% on approximately 1 gigawatt of projects. Margin pressures come from potential changes in government incentive programs, supply chain disruptions that could increase equipment costs, interest rate fluctuations that affect project financing costs, and increasing competition for development sites and interconnection capacity. Currency fluctuations also impact margins given the company's multi-currency revenue base, though this provides some natural hedging across different markets. The company's business model benefits from the capital-intensive nature of renewable energy projects, where most costs are incurred upfront during construction, followed by decades of relatively low operating costs and predictable revenue streams from long-term contracts.
Competitive moat
Enlight's competitive moat is moderately strong and primarily stems from its interconnection rights and development expertise. The company's most significant advantage lies in its portfolio of projects with secured grid interconnection rights, which are increasingly scarce and valuable assets. Obtaining interconnection approvals can take several years and involves complex regulatory processes, creating barriers for new entrants and giving Enlight pricing power in PPA negotiations. The company has built substantial development capabilities across multiple geographies and technologies, allowing it to identify, permit, and develop projects more efficiently than less experienced competitors. This expertise includes navigating complex regulatory environments, managing utility relationships, and executing large-scale construction projects. Enlight's geographic diversification across Israel, Europe, and the US also provides risk mitigation and access to different market opportunities. However, the renewable energy sector faces significant competitive pressures. Large utilities, oil companies, and well-capitalized financial investors are increasingly entering the market, bringing substantial resources and potentially driving down returns. Technology companies like Google, Amazon, and Microsoft are also developing internal renewable energy capabilities to meet their massive power needs, potentially reducing demand for third-party developers. The company's moat is also challenged by the commoditized nature of renewable energy equipment and the standardization of development processes. While interconnection rights provide temporary advantages, regulatory changes could alter the value of these assets. Additionally, the company faces execution risk on its ambitious growth targets, and any significant project delays or cost overruns could damage its competitive position and relationships with customers and financing partners. The renewable energy sector's rapid growth attracts new capital and competition, making it increasingly difficult to maintain above-market returns over time. Enlight's success will depend on its ability to continue securing attractive development opportunities and executing projects efficiently as competition intensifies.
Risks & safety
Enlight presents a moderate margin of safety with strong liquidity but elevated leverage and execution risks. **Liquidity and Solvency:** - Strong cash position: $449.5 million in cash and short-term investments as of Q1 2025 - Current ratio of 1.31, indicating adequate short-term liquidity - Successfully raised $1.5 billion in project financing, demonstrating access to capital markets - Operating cash flow of $193 million in 2024, supporting operations **Debt and Leverage:** - High debt-to-equity ratio of 2.55, reflecting the capital-intensive nature of the business - Total liabilities of $4.3 billion against $5.9 billion in total assets - Debt is primarily project-level, non-recourse financing secured by individual assets - Interest coverage appears adequate given strong EBITDA generation **Valuation Metrics:** - P/E ratio of 5.08 appears attractive but may reflect earnings volatility - EV/EBITDA of 6.31 is reasonable for a growth-oriented utility - Price-to-book ratio of 1.47 suggests modest premium to asset value **Other Considerations:** - Negative free cash flow due to heavy capital expenditures for growth projects - Revenue concentration risk with geographic and customer diversification - Regulatory and policy risk exposure, particularly in the US market - Execution risk on ambitious capacity expansion targets
Recent development
Over the past few years, Enlight has executed a significant geographic expansion strategy, transforming from a primarily Israeli and European operator into a global platform with major US operations. The company completed its NASDAQ IPO in January 2023, raising $271 million to fund this expansion. In the US market, the company has achieved major milestones including the completion of the Atrisco project in New Mexico (364 MW solar with 1.2 GWh storage) and the commencement of construction on three additional large-scale projects: Roadrunner, Quail Ranch, and Country Acres, representing a combined 820 MW of generation and 2 GWh of storage capacity. The company has also significantly expanded its energy storage capabilities, recognizing the growing importance of grid-scale batteries. From 277 megawatt-hours of storage capacity in 2023, the company has grown to 1.9 gigawatt-hours by 2024, with plans to add another 3.9 gigawatt-hours through projects under construction. This includes standalone storage projects in Europe (1.3 GWh across Italy, Spain, and Sweden) and a major 3.2 GWh project in Poland. Enlight has pursued strategic diversification into new market segments, including winning a tender for a 100 MW integrated data center project in Israel, capitalizing on the surging electricity demand from artificial intelligence and cloud computing. The company has also expanded its European footprint with projects in Hungary, Serbia, and multiple storage projects across various countries. The company has demonstrated financial engineering capabilities by successfully renegotiating existing PPAs to achieve price increases of 17-25%, adding significant value to its existing asset base. Additionally, Enlight has optimized its capital structure through selective minority stake sales in projects while maintaining majority control, allowing it to recycle capital for new development opportunities while retaining most of the long-term value creation.
ENLT company profile · for informational purposes only — not investment advice.
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