Enlight Renewable Energy Ltd. key statistics and ratios

In fiscal 2025, Enlight Renewable Energy Ltd. had return on equity of 9.2%, an operating margin of 68.0%, debt equal to 104.7% of equity and a current ratio of 0.67. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Enlight Renewable Energy Ltd.: financial ratios, annual
Fiscal year	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	57.4%	59.8%	57.8%	54.4%	78.6%	72.5%
Operating margin	40.3%	33.6%	47.2%	61.8%	46.4%	68.0%
Net margin	−62.4%	10.9%	12.9%	27.7%	11.7%	27.0%
Free-cash-flow margin	−431.0%	−430.1%	−294.4%	−210.9%	−170.4%	−313.1%
Return on equity	−8.6%	2.1%	3.7%	7.2%	3.8%	9.2%
Return on assets	—	0.4%	0.8%	1.7%	0.9%	1.9%
Asset turnover	—	0.04	0.06	0.06	0.07	0.07
Current ratio	—	2.06	1.10	1.14	1.20	0.67
Debt to equity	0.0%	23.2%	41.2%	55.6%	36.0%	104.7%
Interest cover (operating income ÷ interest)	0.9x	0.9x	1.4x	2.3x	1.8x	2.3x
Effective tax rate	—	20.8%	25.4%	22.5%	21.6%	21.4%
R&D as % of revenue	4.2%	4.6%	2.9%	2.5%	3.1%	2.5%
Capital spending as % of revenue	486.2%	480.9%	341.4%	285.9%	237.9%	371.0%
Free cash flow ÷ net income	—	<−999%	<−999%	−760.5%	<−999%	<−999%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

0 of 3 checks passed · December 31, 2025

What it owns · $8.6bn

Short-term assets $1.1bnLonger-term assets $7.5bn

What it owes, and who funded it · $8.3bn

Short-term liabilities $1.6bnLonger-term liabilities $5.0bnShareholders' equity $1.7bn

Short-term assets cover short-term liabilities $1.1bn of assets due within a year against $1.6bn of liabilities due within a year.
Short-term assets cover long-term liabilities $1.1bn short-term assets against $5.0bn of longer-dated liabilities.
More cash than debt Cash or debt not separately reported. Not assessable.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
Operating profit covers interest at least five times over Operating income of $332m against $145m of interest.

From Enlight Renewable Energy Ltd.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: ENLT vs ORA ENLT vs MNTK ENLT vs RNW CWEN vs ENLT

More: Renewable Electricity stocks compared, Utilities sector, rankings of US companies

Figures from Enlight Renewable Energy Ltd.'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Enlight Renewable Energy Ltd.