Enlight Renewable Energy

ENLT

Renewable Utilities · Utilities

Price

$79.92

+0.33 (+0.41%)

Market Cap

$11.17B

Exchange

NASDAQ

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Weak

Cash Flow

Good

Stability

Weak

Valuation

Good

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Share count rising — dilution

+35.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 98.1M (2021) → 132.6M (2025)

Winston Score History

The full picture

Enlight Renewable Energy Ltd operates as a renewable energy platform in Israel and internationally. The company initiates, plans, develops, constructs, and operates projects to produce electricity from renewable energy sources. It develops wind energy and solar energy projects, as well as energy storage projects. The company was incorporated in 1981 and is headquartered in Rosh HaAyin, Israel.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

42.2%

Healthy — 42.2% gross margin

Profit after running costs

Operating Margin

54.8%

Excellent — 54.8% operating margin

Return on the money invested

ROCE

4.1%

Weak — 4.1% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

-39.1%

Shrinking sales (-39.1% YoY)

Profit growth

EPS YoY

-29.6%

Earnings shrinking (-29.6% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

335%

Turns 335% of profit into real cash

Spare cash per sale

FCF Margin

-161.4%

Burning cash (-161.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

2.41

Heavy debt load (2.41)

Covers its interest

Interest Cover

1.58x

Dangerous — barely covers interest (1.6x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

117.5x

Expensive — P/E 117.5

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

+56.9

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (117.5 → 60.7)

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Dividends

Not applicable for this business.

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