Kenon Holdings Ltd (KEN) is slightly overvalued and Transalta Corp (TAC) is fairly valued.
Both trade above our estimate of their intrinsic value. TAC is the closer of the two: -0%, against -14% for KEN.
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 7.9% (average of 2 methods) values the shares at $12.97; the price of $13.00 sits right on that value, and 80% of that value comes from beyond year five.
Leak Score 50/100 on 10 of 12 signals
| Metric | KEN | TAC |
|---|---|---|
| Verdict | Slightly overvalued | Fairly valued |
| Price | $62.13 | $13.00 |
| Intrinsic value | $54.50 | $12.97 |
| Margin of safety | -14% | -0% |
| Leak Score | 54/100 (10/12) | 50/100 (10/12) |
| Market cap | $3.2B | $4.1B |
| Revenue growth, 5 years | 17.7% | 3.3% |
| Operating margin | 8.1% | -1.2% |
| Net margin | 10.1% | -3.3% |
| Return on equity | 8.2% | -1.4% |
| Debt to equity | 2.02 | 2.38 |
| P/E | 26.9x | — |
| Forward P/E | — | 32.9x |
| P/B | 2.1x | 7.0x |
| Dividend yield | 6.2% | 1.5% |