Kenon Holdings Ltd., through its subsidiaries, operates as an owner, developer, and operator of power generation facilities in Israel and the United States. It engages in the generation and supply of electricity, and energy; development, construction, operation of power plants, and energy generation facilities using natural gas and renewable energy; and management of solar and wind energy, and conventional natural …
Full KEN analysis →
Kenon Holdings Ltd. ranks #10 of 30
scored companies in Utilities: Renewables & IPPs by moat score — the top 33%.
The widest moat in the group is Ormat Technologies, Inc. (ORA)
at 81/100.
Moat scores for companies ranked near KEN in Utilities: Renewables & IPPs
How KEN scores on the Regulated Utilities defenses
Regulatory Franchise
Score 80
· 25% of the moat score
The franchise is the moat, granted rather than earned: an exclusive right to serve a territory in exchange for regulated prices and an obligation to supply.
Rate-Base Return Quality
Score 49
· 20% of the moat score
A utility earns an allowed return on the capital invested in its network, the rate base.
Dividend Sustainability
Score 47
· 18% of the moat score
Utilities are owned largely for income, and the dividend is only as safe as the operating cash flow behind it.
Capital Structure Discipline
Score 84
· 17% of the moat score
Regulated utilities carry more debt than almost any other sector, which suits how predictable their revenue is but makes credit quality a core competitive asset.
Operational Efficiency
Score 48
· 12% of the moat score
Efficiency is unusually consequential under regulation.
Essential Service Resilience
Score 68
· 8% of the moat score
Electricity, gas and water are bought in a recession at close to the volume bought in an expansion, which is why utility revenue barely tracks the economic cycle.
Kenon Holdings Ltd. (KEN) scores 63 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #10 of 30 scored companies in Utilities: Renewables & IPPs, the top 33%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 30 companies in Utilities: Renewables & IPPs. Its strongest defense is Capital Structure Discipline (84/100) and its weakest is Dividend Sustainability (47/100).
How does Kenon Holdings Ltd. compare with other Utilities: Renewables & IPPs companies?
Kenon Holdings Ltd. ranks #10 of 30 scored companies in Utilities: Renewables & IPPs by moat score. The widest moat in Utilities: Renewables & IPPs is Ormat Technologies, Inc. (ORA) at 80/100. The companies ranked closest are Brookfield Renewable Partners L (BEP) at 63 just above it and NRG Energy, Inc. (NRG) at 63 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Regulated Utilities in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 30 companies in Utilities: Renewables & IPPs. The defenses are then weighted to produce the overall score out of 100.
Why is Kenon Holdings Ltd. scored with the Regulated Utilities template?
A regulated utility is a legal monopoly whose prices are set by a regulator rather than by a market. It cannot raise prices at will and it cannot be undercut, so most of the usual questions about competitive advantage barely apply. What matters is the quality of the regulatory bargain: whether the company earns the return it is allowed, funds its capital programme cheaply, and sustains the dividend investors own it for.
Which competitive defenses are measured for Kenon Holdings Ltd.?
The Regulated Utilities template measures 6 defenses, and KEN scores: Regulatory Franchise (80), Rate-Base Return Quality (49), Dividend Sustainability (47), Capital Structure Discipline (84), Operational Efficiency (48), Essential Service Resilience (68). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
We value your privacy
We use cookies to enhance your browsing experience, analyze site traffic, and personalize content. By clicking 'Accept All', you consent to our use of cookies.
Read our cookie policy
Cookie Preferences
Manage your cookie preferences. Essential cookies are always enabled.