Kenon Holdings Ltd (KEN) is slightly overvalued and NRG Energy Inc (NRG) is slightly overvalued.
Both trade above our estimate of their intrinsic value. KEN is the closer of the two: -14%, against -16% for NRG.
Values as of the 19 Oct 2026 close.
Discounting its cash flows at 8.9% (average of 2 methods) values the shares at $54.50; the price of $62.13 is 14% above that value.
Leak Score 54/100 on 10 of 12 signals
Discounting its cash flows at 8.3% (average of 3 methods) values the shares at $85.60; the price of $99.38 is 16% above that value, and 79% of that value comes from beyond year five.
Leak Score 23/100 on 12 of 12 signals
| Metric | KEN | NRG |
|---|---|---|
| Verdict | Slightly overvalued | Slightly overvalued |
| Price | $62.13 | $99.38 |
| Intrinsic value | $54.50 | $85.60 |
| Margin of safety | -14% | -16% |
| Leak Score | 54/100 (10/12) | 23/100 (12/12) |
| Market cap | $3.2B | $20.9B |
| Revenue growth, 5 years | 17.7% | 27.9% |
| Operating margin | 8.1% | 5.5% |
| Net margin | 10.1% | 2.4% |
| Return on equity | 8.2% | 23.8% |
| Debt to equity | 2.02 | 4.83 |
| P/E | 26.9x | 26.3x |
| Forward P/E | — | 9.2x |
| P/B | 2.1x | 5.0x |
| Dividend yield | 6.2% | 1.9% |