Tearsheet

Enlight Renewable Energy (ENLT)

Market Price (10/31/2025): $34.61 | Market Cap: $4.1 Bil
Sector: Utilities | Industry: Renewable Electricity

Enlight Renewable Energy (ENLT)

Market Price (10/31/2025): $34.61
Market Cap: $4.1 Bil
Sector: Utilities
Industry: Renewable Electricity

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 44%	Trading close to highs Dist 52W High is -4.6%	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 85%
1	Attractive operating margins Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 44%		Expensive valuation multiples P/SPrice/Sales ratio is 9.2x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 21x, P/EPrice/Earnings or Price/(Net Income) is 36x
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 43%		Stock price has recently run up significantly 6M Rtn6 month market price return is 111%, 12M Rtn12 month market price return is 116%
3	Low stock price volatility Vol 12M is 40%		Not cash flow generative FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -95%

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 44%
1	Attractive operating margins Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 44%
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 43%
3	Low stock price volatility Vol 12M is 40%
4	Trading close to highs Dist 52W High is -4.6%
5	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 85%
6	Expensive valuation multiples P/SPrice/Sales ratio is 9.2x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 21x, P/EPrice/Earnings or Price/(Net Income) is 36x
7	Stock price has recently run up significantly 6M Rtn6 month market price return is 111%, 12M Rtn12 month market price return is 116%
8	Not cash flow generative FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -95%

Market Valuation & Key Metrics

Valuation
Key Metrics

	10/31/25	2024	2023	2022	2021
Share Price CYE	$34.61	$17.25	$19.14
Market Cap CYE ($ Bil)	4.1	2.0	2.3	-	-
Total Debt ($ Bil)	4.0	3.1	2.7	2.2	1.8
Total Cash ($ Bil)	0.5	0.4	0.4	0.2	0.3
Enterprise Value ($ Bil)	7.7	5.1	5.0
Valuation Ratios
P/S TTM	9.2	5.1	8.5	0.0	0.0
P/EBIT TTM	13.5	11.1	11.8	0.0	0.0
P/E TTM	35.9	46.1	31.2	0.0	0.0
Sector Ratios
P/S TTM (Sector)	2.8	2.4	2.2	2.4	2.6
P/EBIT TTM (Sector)	11.3	9.6	9.7	12.0	12.0
P/E TTM (Sector)	18.2	18.3	16.5	19.2	19.5

	10/31/25	2024	2023
Share Price CYE	$34.61	$17.25	$19.14
Market Cap CYE ($ Bil)	4.1	2.0	2.3
Total Debt ($ Bil)	4.0	3.1	2.7
Total Cash ($ Bil)	0.5	0.4	0.4
Enterprise Value ($ Bil)	7.7	5.1	5.0
Valuation Ratios
P/S TTM	9.2	5.1	8.5
P/EBIT TTM	13.5	11.1	11.8
P/E TTM	35.9	46.1	31.2
Sector Ratios
P/S TTM (Sector)	2.8	2.4	2.2
P/EBIT TTM (Sector)	11.3	9.6	9.7
P/E TTM (Sector)	18.2	18.3	16.5

	ENLT	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	0.4
Rev Chg Q	37.1%	6.4%
Rev Chg LTM	43.8%	5.4%
Rev Chg 3Y Avg	52.0%	5.3%
PROFITABILITY	VERY GOOD
Op Inc LTM ($ Bil)	0.2
CFO LTM ($ Bil)	0.2
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	44.1%	18.7%
CFO/Rev LTM	43.0%	20.4%
Net Inc Mgn	25.6%	12.8%
VALUATION	VERY HIGH
P/S	9.2	3.2
P/CFO	21.4	15.5
P/FCF	-9.7	20.6
P/E	35.9	23.6
STABILITY	FAIR
Debt/Equity	0.97	0.21
Cash/Assets	0.07	0.07

ENLT Stock

Return (1M):

Factor Drivers of Stock Movement

The 40.5% change in ENLT stock from 7/31/2025 to 10/30/2025 was primarily driven by a 49.5% change in the company's P/E Multiple.

	7312025	10302025	Change
Stock Price ($)	24.63	34.60	40.50%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	418.16	449.57	7.51%
Net Income Margin (%)	29.15%	25.63%	-12.09%
P/E Multiple	24.00	35.87	49.45%
Shares Outstanding (Mil)	118.78	119.42	-0.54%
Cumulative Contribution			40.50%

LTM = Last Twelve Months as of date shown

The 111.4% change in ENLT stock from 5/1/2025 to 10/30/2025 was primarily driven by a 131.2% change in the company's Net Income Margin (%).

	5012025	10302025	Change
Stock Price ($)	16.37	34.60	111.39%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	398.80	449.57	12.73%
Net Income Margin (%)	11.09%	25.63%	131.18%
P/E Multiple	43.88	35.87	-18.26%
Shares Outstanding (Mil)	118.50	119.42	-0.78%
Cumulative Contribution			111.38%

LTM = Last Twelve Months as of date shown

The 116.0% change in ENLT stock from 10/30/2024 to 10/30/2025 was primarily driven by a 43.8% change in the company's Total Revenues ($ Mil).

	10302024	10302025	Change
Stock Price ($)	16.02	34.60	116.01%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	312.68	449.57	43.78%
Net Income Margin (%)	18.29%	25.63%	40.12%
P/E Multiple	33.01	35.87	8.67%
Shares Outstanding (Mil)	117.83	119.42	-1.35%
Cumulative Contribution			115.97%

LTM = Last Twelve Months as of date shown

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Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
ENLT Return	-	-	-	-	-10%	101%	80%
Peers Return	21%	-7%	-18%	-14%	-19%	56%	1%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	110%
Monthly Win Rates [3]
ENLT Win Rate	-	-	-	50%	42%	78%
Peers Win Rate	42%	23%	25%	40%	50%	71%
S&P 500 Win Rate	58%	75%	42%	67%	75%	67%
Max Drawdowns [4]
ENLT Max Drawdown	-	-	-	-	-23%	-16%
Peers Max Drawdown	-14%	-15%	-29%	-27%	-32%	-30%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: ELLO, STEM, BEPC, ORA, ENLT.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/30/2025 (YTD)

How Low Can It Go

ENLT has limited trading history. Below is the Utilities sector ETF (XLU) in its place.

Unique Key	Event	XLU	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-28.1%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	39.0%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	347 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-36.7%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	58.0%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	633 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-16.4%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	19.6%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	308 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-48.8%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	95.2%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	2058 days	1480 days

Compare to

In The Past

SPDR Select Sector Fund's stock fell -28.1% during the 2022 Inflation Shock from a high on 9/12/2022. A -28.1% loss requires a 39.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Enlight Renewable Energy (ENLT)

Business Description

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.

Better Bets than Enlight Renewable Energy (ENLT)

	ENLT	Better Performance than ENLT
Metric	Value	Industry (Renewable Electricity)
Rev Chg LTM	43.8%	NXXT (71.3%)
Rev Chg 3Y Avg	52.0%	NRGV (87.8%)
Op Mgn LTM	44.1%	RNW (52.3%)
CFO/Rev LTM	43.0%	ORA (49.6%), CWEN (54.4%), RNW (61.4%), CREG (65162.6%)
FCF/Rev LTM	-94.8%	BEPC (-16.0%), ORA (-12.7%), CWEN (39.2%), RNW (6.2%), FLNC (-17.4%)
Total Yield	2.8%	CWEN (11.3%), RNW (311.0%), SAFX (90.0%)

	ENLT	Better Performance than ENLT
Metric	Value	Sector (Utilities)
Rev Chg LTM	43.8%	MDU (143.2%), CDZI (460.5%), NXXT (71.3%)
Rev Chg 3Y Avg	52.0%	NRGV (87.8%), CDZI (244.4%)
Op Mgn LTM	44.1%	BIPC (60.4%), RNW (52.3%)
CFO/Rev LTM	43.0%	NEE (45.5%), ATO (44.0%), NFG (46.1%), ORA (49.6%), BIPC (45.9%)
FCF/Rev LTM	-94.8%	NEE (11.7%), CEG (-9.7%), SO (-6.3%), DUK (-1.8%), AEP (-8.2%)
Total Yield	2.8%	NEE (6.6%), CEG (2.9%), SO (7.1%), DUK (5.8%), AEP (8.7%)

	ENLT	Better Performance than ENLT
Metric	Value	All Other Sectors
Rev Chg LTM	43.8%	NVDA (71.6%), MU (48.9%), APP (48.2%), APH (47.4%), HOOD (59.6%)
Rev Chg 3Y Avg	52.0%	NVDA (92.0%), NU (70.1%), APO (129.8%), SLF (53.4%), RKLB (58.4%)
Op Mgn LTM	44.1%	NVDA (58.1%), MSFT (46.3%), V (66.5%), MA (58.0%), MCD (46.1%)
CFO/Rev LTM	43.0%	NVDA (46.6%), MSFT (50.0%), META (56.8%), V (60.4%), MA (53.3%)
FCF/Rev LTM	-94.8%	NVDA (43.6%), AAPL (23.5%), MSFT (26.6%), GOOGL (19.1%), AMZN (2.0%)
Total Yield	2.8%	AAPL (2.8%), MSFT (3.3%), GOOGL (3.9%), AMZN (3.0%), META (3.8%)

		Best Bets In Utilities Sector
	ENLT	CWEN	LNT	MDU	VST	OGS	OTTR	NEE	BKH	UGI	MGEE
What You Pay
P/E	35.9	49.3	21.0	18.4	27.0	19.6	11.4	25.9	16.3	17.2	23.3
P/EBIT	13.5	13.1	15.2	18.8	17.3	11.0	8.5	22.4	8.6	8.6	17.0
What You Get
Rev Chg Q	37.1%	7.1%	7.5%	1.9%	10.5%	19.7%	-2.7%	5.3%	10.8%	1.0%	9.4%
Rev Chg LTM	43.8%	14.7%	4.6%	143.2%	31.6%	13.4%	-3.7%	0.2%	3.3%	-0.5%	8.5%
Rev Chg 3Y Avg	52.0%	4.9%	1.6%	6.6%	22.4%	2.4%	-2.7%	11.4%	2.6%	-8.1%	2.7%
FCF/Rev 3Y Avg	-154.9%	38.1%	20.9%	16.9%	13.5%	11.2%	8.9%	9.3%	4.4%	3.3%	0.6%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 9.3%, alpha of -0.5%, and sharpe of 0.48

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Enlight Renewable Energy Stock Jumped 22% in a Month, What Now?	Return
2	Enlight Renewable Energy (ENLT) Valuation Ratios Comparison	Financials
3	Fundamental Metrics: ...
4	ARTICLES
5	Small Cap Stocks Trading At 52-Week High		September 11th, 2025
6	Small Cap Stocks Trading At 52-Week High		September 10th, 2025

	Title
0	DASHBOARDS
1	Small Cap Stocks Trading At 52-Week High
2	Small Cap Stocks Trading At 52-Week High
3	ARTICLES
4	Enlight Renewable Energy Stock Jumped 22% in a Month, What Now?
5	Enlight Renewable Energy (ENLT) Valuation Ratios Comparison
6	Fundamental Metrics: ...

Trade Ideas

Select past ideas related to ENLT. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
AES_9302025_Dip_Buyer_ValueBuy	09302025	AES	AES	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	9.2%	9.2%	0.0%
VST_5312025_Quality_Momentum_RoomToRun_10%	05312025	VST	Vistra	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	24.5%	24.5%	0.0%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
AES_9302025_Dip_Buyer_ValueBuy	09302025	AES	AES	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	9.2%	9.2%	0.0%
VST_5312025_Quality_Momentum_RoomToRun_10%	05312025	VST	Vistra	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	24.5%	24.5%	0.0%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	GH	Guardant Health	27.9%	202.5%
2	GCI	Gannett	27.7%	3.8%
3	FORM	FormFactor	24.2%	34.7%
4	VIAV	Viavi Solutions	22.3%	69.3%
5	GSAT	Globalstar	22.2%	63.5%
6	MTSR	Metsera	22.1%	63729900.0%
7	PRM	Perimeter Solutions	21.1%	102.3%
8	CHRW	C.H. Robinson Worldwide	19.7%	52.6%
9	INSM	Insmed	16.3%	181.3%
10	CAH	Cardinal Health	15.4%	62.8%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	FMC	FMC	-46.5%	-66.6%
2	APLS	Apellis Pharmaceuticals	-31.0%	-35.0%
3	THRY	Thryv	-30.2%	-44.8%
4	SFM	Sprouts Farmers Market	-26.1%	-39.2%
5	IART	Integra Lifesciences	-23.5%	-47.9%
6	ITRI	Itron	-21.1%	0.4%
7	WOLF	Wolfspeed	-18.2%
8	CMG	Chipotle Mexican Grill	-18.2%	-46.1%
9	CI	Cigna	-17.4%	-9.2%
10	EME	EMCOR	-16.6%	43.0%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	INBX	Inhibrx Biosciences	176.8%	409.8%
2	PUMP	ProPetro	71.2%	16.2%
3	RNA	Avidity Biosciences	43.5%	139.6%
4	DYN	Dyne Therapeutics	42.8%	-0.0%
5	GCI	Gannett	39.3%	3.8%
6	FORM	FormFactor	38.3%	34.7%
7	MBX	MBX Biosciences	35.1%	18.2%
8	BBNX	Beta Bionics	33.8%
9	GH	Guardant Health	33.3%	202.5%
10	LUMN	Lumen Technologies	32.7%	94.7%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	PMI	Picard Medical	-75.2%	5106.3%
2	LRN	Stride	-56.1%	-35.8%
3	NTLA	Intellia Therapeutics	-52.6%	5.2%
4	FMC	FMC	-48.7%	-66.6%
5	FI	Fiserv	-47.4%	-68.3%
6	VRNS	Varonis Systems	-43.8%	-21.2%
7	THRY	Thryv	-33.4%	-44.8%
8	NFE	New Fortress Energy	-30.5%	-91.9%
9	AKBA	Akebia Therapeutics	-29.5%	10.5%
10	UAMY	United States Antimony	-28.9%	371.2%

1 Month Top Gainers

#	Ticker	Company	1M Rtn	YTD Rtn
1	PRAX	Praxis Precision Medicines	279.1%	161.2%
2	INBX	Inhibrx Biosciences	131.0%	409.8%
3	PUMP	ProPetro	99.6%	16.2%
4	DYN	Dyne Therapeutics	88.4%	-0.0%
5	VICR	Vicor	85.4%	89.2%
6	CELC	Celcuity	74.6%	503.2%
7	GLUE	Monte Rosa Therapeutics	73.5%	87.5%
8	NVTS	Navitas Semiconductor	72.1%	251.8%
9	LUMN	Lumen Technologies	70.3%	94.7%
10	BALY	Ballys	63.4%	4.1%

1 Month Top Losers

#	Ticker	Company	1M Rtn	YTD Rtn
1	PMI	Picard Medical	-62.9%	5106.3%
2	LRN	Stride	-53.8%	-35.8%
3	FMC	FMC	-51.0%	-66.6%
4	FI	Fiserv	-48.3%	-68.3%
5	NFE	New Fortress Energy	-43.6%	-91.9%
6	VG	Venture Global	-41.7%
7	OGN	Organon	-40.2%	-55.0%
8	VRNS	Varonis Systems	-39.5%	-21.2%
9	ITGR	Integer	-38.5%	-52.2%
10	LENZ	LENZ Therapeutics	-37.9%	5.5%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	GH	Guardant Health	27.9%	202.5%
2	GCI	Gannett	27.7%	3.8%
3	FORM	FormFactor	24.2%	34.7%
4	VIAV	Viavi Solutions	22.3%	69.3%
5	GSAT	Globalstar	22.2%	63.5%
6	MTSR	Metsera	22.1%	63729900.0%
7	PRM	Perimeter Solutions	21.1%	102.3%
8	CHRW	C.H. Robinson Worldwide	19.7%	52.6%
9	INSM	Insmed	16.3%	181.3%
10	CAH	Cardinal Health	15.4%	62.8%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	FMC	FMC	-46.5%	-66.6%
2	APLS	Apellis Pharmaceuticals	-31.0%	-35.0%
3	THRY	Thryv	-30.2%	-44.8%
4	SFM	Sprouts Farmers Market	-26.1%	-39.2%
5	IART	Integra Lifesciences	-23.5%	-47.9%
6	ITRI	Itron	-21.1%	0.4%
7	WOLF	Wolfspeed	-18.2%
8	CMG	Chipotle Mexican Grill	-18.2%	-46.1%
9	CI	Cigna	-17.4%	-9.2%
10	EME	EMCOR	-16.6%	43.0%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	INBX	Inhibrx Biosciences	176.8%	409.8%
2	PUMP	ProPetro	71.2%	16.2%
3	RNA	Avidity Biosciences	43.5%	139.6%
4	DYN	Dyne Therapeutics	42.8%	-0.0%
5	GCI	Gannett	39.3%	3.8%
6	FORM	FormFactor	38.3%	34.7%
7	MBX	MBX Biosciences	35.1%	18.2%
8	BBNX	Beta Bionics	33.8%
9	GH	Guardant Health	33.3%	202.5%
10	LUMN	Lumen Technologies	32.7%	94.7%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	PMI	Picard Medical	-75.2%	5106.3%
2	LRN	Stride	-56.1%	-35.8%
3	NTLA	Intellia Therapeutics	-52.6%	5.2%
4	FMC	FMC	-48.7%	-66.6%
5	FI	Fiserv	-47.4%	-68.3%
6	VRNS	Varonis Systems	-43.8%	-21.2%
7	THRY	Thryv	-33.4%	-44.8%
8	NFE	New Fortress Energy	-30.5%	-91.9%
9	AKBA	Akebia Therapeutics	-29.5%	10.5%
10	UAMY	United States Antimony	-28.9%	371.2%

Peer Comparisons for Enlight Renewable Energy

Financials

	ENLT	ELLO	STEM	BEPC	ORA	Median
Name	Enlight .	Ellomay .	Stem	Brookfie.	Ormat Te.
Mkt Price	34.60	20.50	16.94	42.18	105.11	34.60
Mkt Cap	4.1	0.3	0.1	7.6	6.4	4.1
Rev LTM	450	41	156	3,887	906	450
Op Inc LTM	198	-1	-122	959	175	175
FCF LTM	-426	-81	-47	-622	-115	-115
FCF 3Y Avg	-466	-59	-125	50	-221	-125
CFO LTM	193	13	-37	401	450	193
CFO 3Y Avg	164	8	-110	1,037	357	164

Growth & Margins

	ENLT	ELLO	STEM	BEPC	ORA	Median
Name	Enlight .	Ellomay .	Stem	Brookfie.	Ormat Te.
Rev Chg LTM	43.8%	-5.0%	-56.7%	-5.5%	2.2%	-5.0%
Rev Chg 3Y Avg	52.0%	-8.4%	12.4%	2.4%	9.0%	9.0%
Rev Chg Q	37.1%	0.6%	12.9%	-3.7%	9.9%	9.9%
QoQ Delta Rev Chg LTM	7.5%	0.2%	2.9%	-0.9%	2.4%	2.4%
Op Mgn LTM	44.1%	-1.8%	-78.2%	24.7%	19.3%	19.3%
Op Mgn 3Y Avg	42.6%	-3.2%	-56.3%	26.5%	21.1%	21.1%
QoQ Delta Op Mgn LTM	1.3%	0.8%	15.0%	0.7%	-0.7%	0.8%
CFO/Rev LTM	43.0%	30.5%	-23.6%	10.3%	49.6%	30.5%
CFO/Rev 3Y Avg	50.8%	19.0%	-31.6%	26.4%	41.7%	26.4%
FCF/Rev LTM	-94.8%	-196.7%	-29.8%	-16.0%	-12.7%	-29.8%
FCF/Rev 3Y Avg	-154.9%	-135.9%	-36.7%	1.4%	-26.5%	-36.7%

Valuation

	ENLT	ELLO	STEM	BEPC	ORA	Median
Name	Enlight .	Ellomay .	Stem	Brookfie.	Ormat Te.
Mkt Cap	4.1	0.3	0.1	7.6	6.4	4.1
P/S	9.2	6.4	0.9	1.9	7.0	6.4
P/EBIT	13.5	25.5	-35.8	9.9	24.9	13.5
P/E	35.9	-54.9	-6.4	-5.7	48.6	-5.7
P/CFO	21.4	20.9	-3.8	18.9	14.2	18.9
Total Yield	2.8%	-1.8%	-15.5%	-17.4%	2.5%	-1.8%
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.5%	0.0%
FCF Yield 3Y Avg	-21.3%	-30.3%	-374.4%	-	-4.7%	-25.8%
D/E	1.0	2.1	2.3	1.9	0.4	1.9
Net D/E	0.9	1.9	2.0	1.8	0.4	1.8

Returns

	ENLT	ELLO	STEM	BEPC	ORA	Median
Name	Enlight .	Ellomay .	Stem	Brookfie.	Ormat Te.
1M Rtn	11.1%	13.8%	-3.3%	22.5%	9.2%	11.1%
3M Rtn	40.5%	14.8%	30.1%	16.4%	17.6%	17.6%
6M Rtn	111.4%	31.4%	57.8%	50.6%	46.6%	50.6%
12M Rtn	116.0%	47.8%	75.9%	-	31.8%	61.9%
3Y Rtn	-	7.8%	-93.8%	-	18.2%	7.8%
1M Excs Rtn	8.2%	5.7%	-17.8%	16.2%	3.1%	5.7%
3M Excs Rtn	32.0%	4.2%	29.1%	16.6%	9.1%	16.6%
6M Excs Rtn	89.7%	9.7%	36.0%	28.9%	24.9%	28.9%
12M Excs Rtn	100.6%	29.8%	30.2%	-	12.5%	30.0%
3Y Excs Rtn	-	-72.1%	-170.3%	-	-55.7%	-72.1%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	6/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	8/6/2025	3/28/2025	3/28/2024	3/30/2023	3/31/2022	3/31/2021	3/23/2020
Key Financials
Total Revenue	450	399	261	192	102	70	56
EBITDA	436	293	253	149	79	-8	44
Operating Income	198	159	105	77	41	28	23
Net Income	115	44	71	25	11	-44	-5
EPS	1.71	0.37	0.61	0.25	0.12	-0.56	-0.09
Growth Rates
Total Revenue Growth	43.8%	52.7%	35.9%	87.6%	45.7%	26.5%	166.3%
EBITDA Growth	64.3%	15.6%	69.8%	89.5%	1025.8%	-119.4%	54.2%
Operating Income Growth	61.6%	51.4%	36.4%	87.6%	44.3%	21.3%	395.0%
Net Income Growth	101.5%	-37.7%	186.6%	120.6%	125.6%	-770.7%	-833.5%
Margins
EBITDA Margin	96.9%	73.4%	96.9%	77.6%	76.8%	-12.1%	78.9%
Operating Income Margin	44.1%	39.8%	40.2%	40.0%	40.0%	40.3%	42.1%
Net Income Margin	25.6%	11.1%	27.2%	12.9%	10.9%	-62.4%	-9.1%
Cash & Debt
Total Cash	481	387	409	232	305	132	218
Total Debt	4,011	3,118	2,700	2,161	1,820	1,170	797
Net Debt / (Cash)	3,529	2,731	2,290	1,929	1,514	1,038	578
Cash Flows
Net Cash from Operations	193	193	150	90	52	39	29
Free Cash from Operations	-426	193	150	-549	-419	-303	-127
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	2	-0	-0	-0

$ Mil \| FY: 12/31	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3
Period End	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Filing Date	8/6/2025	5/6/2025	3/28/2025	11/13/2024	8/7/2024	5/8/2024	3/28/2024	11/20/2023	8/9/2023	5/11/2023	3/30/2023	11/22/2022
Key Financials Quarterly
Total Revenue	116	110	114	109	85	90	79	58	53	71	61	56
Ebitda	96	190	55	95	67	76	50	72	59	72	33	57
Operating Income	54	55	41	49	34	41	28	19	19	39	27	22
Net Income	1	94	5	14	8	17	10	23	15	24	5	17
EPS	0.75	0.80	0.04	0.12	0.07	0.14	0.13	0.14	0.12	0.22	0.05	0.17
Key Financials TTM
Total Revenue TTM	450	418	399	364	313	281	261	243	241	228	192	166
Ebitda TTM	436	407	293	288	265	257	253	237	221	191	149	135
Operating Income TTM	198	179	165	152	123	108	105	105	107	101	77	62
Net Income TTM	115	122	44	49	57	64	71	67	61	44	25	23
Growth Rates Quarterly
Total Revenue Growth	37.1%	21.4%	44.1%	87.8%	61.1%	27.3%	30.2%	3.5%	31.8%	102.5%	77.6%	146.1%
EBITDA Growth	43.3%	149.2%	9.6%	31.5%	13.6%	5.6%	49.4%	27.2%	104.5%	138.9%	72.6%	226.2%
Operating Income Growth	56.1%	33.1%	47.8%	151.3%	78.0%	7.3%	1.1%	-10.3%	46.8%	161.2%	118.1%	212.6%
Net Income Growth	-83.1%	463.5%	-46.4%	-37.4%	-44.7%	-30.1%	81.2%	35.8%	788.8%	400.8%	44.5%	3037.3%
Margins Quarterly
EBITDA Margin	82.5%	173.5%	47.8%	86.6%	78.9%	84.5%	62.8%	123.6%	112.0%	101.9%	54.8%	100.6%
Operating Income Margin	46.1%	50.1%	35.7%	44.6%	40.5%	45.7%	34.8%	33.4%	36.6%	54.3%	44.8%	38.5%
Net Income Margin	1.2%	86.1%	4.5%	13.0%	9.5%	18.5%	12.1%	39.0%	27.7%	33.8%	8.7%	29.7%
Cash & Debt
Total Cash	481	450	387	183	211	252	409	262	363	578	232	153
Total Debt	4,011	3,336	3,118	3,154	2,891	2,727	2,700	2,282	2,329	2,333	2,161	414
Net Debt / (Cash)	3,529	2,886	2,731	2,971	2,680	2,475	2,290	2,020	1,966	1,756	1,929	262
Cash Flows Quarterly
FCF from Operations	48	44	36	66	56	35	24	31	39	55	37	20
Cash Flows TTM
FCF from Operations TTM	193	201	193	181	146	129	150	163	151	132	90	78
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	3	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	3.9%	4.4%	3.4%	3.7%	2.9%	3.6%	2.8%	1.8%	2.0%	4.2%	3.0%	6.4%
Return on Invested Capital (ROIC) TTM
ROIC TTM	3.4%	3.6%	3.4%	3.0%	2.5%	2.3%	2.4%	2.6%	2.7%	2.7%	2.1%	4.5%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Single Segment	256	192
Adjustments			-11	-11	-39
Central-Eastern Europe			61	48
Management and Construction			19	13	8
Middle East and North Africa (MENA)			19	17
Western Europe			14	3	3
Central/ Eastern Europe Photovoltaic					1
Central/ Eastern Europe Wind					36
Israel Photovoltaic					47
Total	256	192	102	70	56

Price Behavior

Price Behavior

Market Price	$34.60
Market Cap ($ Bil)	4.1
First Trading Date	02/10/2023
Distance from 52W High	-4.6%
	50 Days	200 Days
DMA Price	$30.75	$22.12
DMA Trend	up	up
Distance from DMA	12.5%	56.4%
	3M	1YR
Volatility	37.5%	40.7%
Downside Capture	105.70	52.99
Upside Capture	233.52	120.10
Correlation (SPY)	40.5%	27.7%

ENLT Betas & Captures as of 9/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.80	1.49	1.57	0.60	0.58	-0.04
Up Beta	-2.28	0.03	1.37	0.25	0.19	0.15
Down Beta	3.14	2.13	1.37	0.88	0.71	0.05
Up Capture	281%	270%	256%	162%	131%	38%
Bmk +ve Days	13	23	35	74	144	420
Stock +ve Days	12	23	34	70	135	348
Down Capture	184%	105%	86%	46%	71%	87%
Bmk -ve Days	8	19	29	52	107	330
Stock -ve Days	9	19	28	54	113	307

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date	10152025
Short Interest: Shares Quantity	84,141
Short Interest: % Change Since 9302025	6.1%
Average Daily Volume	40,645
Days-to-Cover Short Interest	2.07
Basic Shares Quantity	119,421,246
Short % of Basic Shares	0.1%

Returns Analyses

	Title
0	Enlight Renewable Energy Stock Jumped 22% in a Month, What Now?

SEC Filings

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Report Date	Filing Date	Filing
6302025	8062025	6-K 6/30/2025
3312025	5062025	6-K 3/31/2025
12312024	3282025	20-F 12/31/2024
9302024	11132024	6-K 9/30/2024
6302024	8072024	6-K 6/30/2024
3312024	5082024	6-K 3/31/2024
12312023	3282024	20-F 12/31/2023
9302023	11202023	6-K 9/30/2023
6302023	8092023	6-K 6/30/2023
3312023	5112023	6-K 3/31/2023
12312022	3302023	20-F 12/31/2022

Insider Activity

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Enlight Renewable Energy (ENLT)

Market Price (10/31/2025): $34.61 | Market Cap: $4.1 BilSector: Utilities | Industry: Renewable Electricity

Enlight Renewable Energy (ENLT)

Market Price (10/31/2025): $34.61Market Cap: $4.1 BilSector: UtilitiesIndustry: Renewable Electricity

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Market Price (10/31/2025): $34.61 | Market Cap: $4.1 Bil
Sector: Utilities | Industry: Renewable Electricity

Market Price (10/31/2025): $34.61
Market Cap: $4.1 Bil
Sector: Utilities
Industry: Renewable Electricity