Kenon Holdings (XTAE:KEN) E10: ₪17.36 (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

XTAE:KEN Kenon Holdings Ltd XTAE:KEN
77 GF Score
Price ₪217.00
GF Value ₪140.92
Valuation Significantly Overvalued
! 7 Warning Signs
View Full Analysis

What is Kenon Holdings E10?

Kenon Holdings XTAE:KEN +1.97% 77 E10 is ₪17.36 as of Mar. 2026. GuruFocus rates XTAE:KEN with a GF Score™ of 77/100 and a GF Value™ of ₪140.92 (Significantly Overvalued). The stock has 7 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Kenon Holdings's adjusted earnings per share data for the three months ended in Mar. 2026 was ₪1.493. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is ₪17.36 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Kenon Holdings's average E10 Growth Rate was 5.30% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

As of today (2026-07-25), Kenon Holdings's current stock price is ₪217.00. Kenon Holdings's E10 for the quarter that ended in Mar. 2026 was ₪17.36. Kenon Holdings's Shiller PE Ratio of today is 12.50.

During the past 13 years, the highest Shiller PE Ratio of Kenon Holdings was 16.82. The lowest was 3.45. And the median was 6.53.


Kenon Holdings  (XTAE:KEN) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Kenon Holdings's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=217.00/17.36
=12.50

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Shiller P/E Ratio of Kenon Holdings was 16.82. The lowest was 3.45. And the median was 6.53.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


Kenon Holdings E10 Related Terms


Kenon Holdings E10 Historical Data

* Premium members only.

The historical data trend for Kenon Holdings's E10 can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Kenon Holdings E10 Chart

Kenon Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 18.28 18.51 16.75

Kenon Holdings Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
E10 Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 19.24 17.65 16.19 16.75 17.36

XTAE:KEN vs HNRG, OKLO, CEG: E10 Comparison

For the Utilities - Independent Power Producers subindustry, Kenon Holdings's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Kenon Holdings Shiller PE Ratio vs Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Kenon Holdings's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Kenon Holdings's Shiller PE Ratio falls into.


XTAE:KEN
77GF Score
Kenon Holdings Ltd XTAE:KEN
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Kenon Holdings E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Kenon Holdings's adjusted earnings per share data for the three months ended in Mar. 2026 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=1.493/330.2130*330.2130
=1.493

Current CPI (Mar. 2026) = 330.2130.

Kenon Holdings Quarterly Data

per share eps CPI Adj_EPS
201606 -15.841 241.018 -21.703
201609 -2.681 241.428 -3.667
201612 -2.772 241.432 -3.791
201703 -1.158 243.801 -1.568
201706 0.518 244.955 0.698
201709 -1.310 246.819 -1.753
201712 15.354 246.524 20.566
201803 30.860 249.554 40.834
201806 -1.615 251.989 -2.116
201809 -1.158 252.439 -1.515
201812 -3.503 251.233 -4.604
201903 -0.731 254.202 -0.950
201906 -0.396 256.143 -0.511
201909 1.615 256.759 2.077
201912 -1.249 256.974 -1.605
202003 0.853 258.115 1.091
202006 15.811 257.797 20.252
202009 3.808 260.280 4.831
202012 8.195 260.474 10.389
202103 10.175 264.877 12.685
202106 9.748 271.696 11.847
202109 10.510 274.310 12.652
202112 22.177 278.802 26.266
202203 36.130 287.504 41.497
202206 14.988 296.311 16.703
202209 14.166 296.808 15.760
202212 -47.614 296.797 -52.975
202303 -0.426 301.836 -0.466
202306 -1.706 305.109 -1.846
202309 -11.668 307.789 -12.518
202312 0.335 306.746 0.361
202403 0.457 312.332 0.483
202406 6.489 314.175 6.820
202409 2.468 315.301 2.585
202412 25.132 315.605 26.295
202503 0.670 319.799 0.692
202506 0.305 322.561 0.312
202509 1.371 324.800 1.394
202512 1.523 324.054 1.552
202603 1.493 330.213 1.493

Add all the adjusted EPS together and divide 10 will get our e10.

Frequently Asked Questions Learn more about E10 →
What does a E10 of ₪17.36 mean?
Kenon Holdings (XTAE:KEN) has a E10 of ₪17.36 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Kenon Holdings and its competitors.
Is Kenon Holdings' E10 too high?
Kenon Holdings' current E10 is ₪17.36. Overall, Kenon Holdings has a GF Score™ of 77/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kenon Holdings' E10 compare to HNRG and OKLO?
Kenon Holdings' E10 of ₪17.36 can be compared against companies in the Utilities - Independent Power Producers industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good E10 for an Utilities - Independent Power Producers company?
A good E10 depends on the Utilities - Independent Power Producers industry context. However, E10 should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high E10 mean?
A high E10 can signal that a stock is expensive relative to its fundamentals. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Kenon Holdings and its competitors. Kenon Holdings's current E10 is ₪17.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kenon Holdings stock overvalued right now?
Based on GuruFocus' analysis, Kenon Holdings (XTAE:KEN) is currently considered Significantly Overvalued. The stock's GF Value™ is ₪140.92, compared to a current price of ₪217.00 — trading 54% above its estimated fair value. The current E10 is ₪17.36. Kenon Holdings' overall GF Score™ is 77/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is E10 calculated?
E10 is calculated from a company's financial statements. For Kenon Holdings (XTAE:KEN), the current E10 is ₪17.36 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Kenon Holdings (XTAE:KEN) Overvalued in 2026?

Based on GuruFocus' analysis, Kenon Holdings stock appears to be overvalued. The current stock price of ₪217.00 is trading 54% above its estimated GF Value™ of ₪140.92. GuruFocus considers Kenon Holdings to be Significantly Overvalued.

Key valuation signals for XTAE:KEN:

  • E10: ₪17.36
  • GF Value™: ₪140.92 vs. price of ₪217.00 (54% above fair value)
  • GF Score™: 77/100 with 7 warning signs

No single metric tells the full story. See the XTAE:KEN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Kenon Holdings Business Description

Other Exchanges KEN:USA76N:Germany
Address 1 Temasek Avenue, No. 37-02B, Millenia Tower, Singapore, SGP, 039192
Kenon Holdings Ltd is a holding company that operates dynamic, growth-oriented businesses. The company's operating segments include: OPC Power Plants, which generates and supplies electricity and energy in Israel; and CPV Group, which generates and supplies electricity and energy in the United States. It generates maximum revenue from the OPC Power Plants segment, which generates and supplies electricity and energy in Israel. CPV Group is a limited partnership owned by OPC, which generates and supplies electricity and energy in the United States. Geographically, the company generates a majority of its revenue from Israel and the rest from the United States.
77GF Score

Get the complete analysis for XTAE:KEN

E10 is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₪217.00
Price
₪140.92
GF Value