Kenon Holdings Ltd. (KEN) Income Statement
KEN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsKEN revenue and net income
Where KEN's revenue goes
2025Each bar shows an amount and its share of revenue. KEN kept 7.6% of revenue as net income.
KEN profit margins
KEN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +16.1% | +15.0% | +17.7% | +10.3% |
| Gross profit | +2.1% | +13.7% | +15.6% | +10.2% |
| Operating income | +31.2% | +180.5% | +22.1% | −12.8% |
| Net income | −88.9% | −40.4% | −33.4% | −1.0% |
| EPS (diluted) | −17.8% | +17.1% | +0.2% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
KEN quarterly EPS vs estimates
Next report: December 2, 2026.
KEN income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $871.9M | $751.3M | $691.8M | $574.0M | $487.8M | $386.5M | $373.5M | $364.0M | $365.7M | $324.3M |
| Cost of revenue | $725.1M | $607.5M | $572.3M | $474.1M | $389.4M | $315.2M | $287.2M | $289.3M | $297.2M | $278.4M |
| Gross profit | $146.8M | $143.8M | $119.5M | $99.8M | $98.3M | $71.2M | $86.3M | $74.7M | $68.5M | $45.9M |
| Research & development | — | — | $15.6M | $15.2M | $1.6M | $2.0M | $1.9M | $999,000 | — | — |
| Sales, general & admin | $105.9M | $84.1M | $74.0M | $92.1M | $69.3M | $47.1M | $33.5M | $33.0M | $55.6M | $46.5M |
| Total operating expenses | $84.5M | $96.3M | $76.9M | $97.0M | $75.1M | $48.2M | $30.3M | $32.5M | $26.2M | −$106.3M |
| Operating income | $62.3M | $47.5M | $42.6M | $2.8M | $23.3M | $23.0M | $56.0M | $42.2M | $42.3M | $152.2M |
| Interest income | $46.2M | $32.0M | $9.1M | $387.3M | $943.3M | $14.3M | $71.9M | $356.8M | $168.4M | $223.8M |
| Interest expense | $70.0M | $92.0M | $64.1M | $47.5M | $136.1M | $37.7M | $23.2M | $30.4M | $69.0M | $47.3M |
| Income before taxes | $176.5M | $93.3M | $81.2M | $82.3M | $879.6M | $500.4M | −$5.5M | $462.0M | −$135.6M | −$426.9M |
| Income taxes | $28.2M | $40.6M | $25.2M | $38.0M | $4.3M | $4.7M | $16.7M | $11.5M | $72.8M | $2.3M |
| Net income | $66.3M | $597.7M | −$236.0M | $312.7M | $930.3M | $507.1M | −$13.4M | $434.2M | $236.6M | −$411.9M |
| EBITDA | $318.9M | $272.4M | $224.4M | $192.7M | $989.2M | $559.0M | $49.0M | $522.8M | $102.3M | −$209.2M |
| EPS (diluted) | $9.32 | $11.34 | −$4.38 | $5.81 | $17.25 | $9.21 | −$0.92 | −$5.51 | $9.07 | −$3.67 |
| Gross margin | 16.8% | 19.1% | 17.3% | 17.4% | 20.2% | 18.4% | 23.1% | 20.5% | 18.7% | 14.2% |
| Operating margin | 7.2% | 6.3% | 6.2% | 0.5% | 4.8% | 6.0% | 15.0% | 11.6% | 11.6% | 46.9% |
| Net margin | 7.6% | 79.6% | −34.1% | 54.5% | 190.7% | 131.2% | −3.6% | 119.3% | 64.7% | −127.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $379.0M | $317.0M | $227.9M | $265.0M | $196.0M | $183.0M | $159.3M | $237.0M | $181.0M | $174.0M | $150.8M | $229.0M |
| Cost of revenue | $296.0M | $270.0M | $206.1M | $196.0M | $167.0M | $156.0M | $138.5M | $181.0M | $151.0M | $137.0M | $133.3M | $176.0M |
| Gross profit | $83.0M | $47.0M | $21.8M | $69.0M | $29.0M | $27.0M | $20.8M | $56.0M | $30.0M | $37.0M | $17.5M | $53.0M |
| Sales, general & admin | $27.0M | $26.0M | $12.9M | $45.0M | $31.0M | $16.8M | $28.9M | $25.0M | $22.0M | $23.0M | $1.9M | $25.0M |
| Total operating expenses | $26.0M | $43.0M | $474,000 | $35.0M | $31.0M | $18.0M | $164.8M | $19.0M | $21.0M | $31.0M | $8.9M | $21.0M |
| Operating income | $57.0M | $4.0M | $21.3M | $34.0M | −$2.0M | $9.0M | −$5.5M | $37.0M | $9.0M | $6.0M | $8.6M | $32.0M |
| Interest income | $59.0M | $36.0M | $10.2M | $14.0M | $9.0M | $12.0M | $80.2M | $18.0M | $8.0M | $12.0M | $1.8M | $11.0M |
| Interest expense | $32.0M | $31.0M | $974,000 | $27.0M | $21.0M | $23.0M | $18.3M | $52.0M | $31.0M | $21.0M | $11.3M | $23.0M |
| Income before taxes | $67.0M | $43.0M | $51.5M | $82.0M | $7.0M | $36.0M | −$91.7M | $60.0M | $107.0M | $17.0M | $18.3M | −$181.0M |
| Income taxes | $13.0M | $9.0M | $3.2M | $15.0M | $1.0M | $9.0M | — | $6.0M | $141.0M | $7.0M | $6.2M | $9.0M |
| Net income | $44.0M | $26.0M | $25.3M | $25.0M | $5.0M | $12.0M | $434.7M | $43.0M | $112.0M | $8.0M | $7.0M | −$205.0M |
| EBITDA | $88.0M | $100.0M | $66.9M | $128.0M | $45.0M | $78.0M | — | $137.0M | $160.0M | $60.0M | $40.5M | −$130.0M |
| EPS (diluted) | $0.85 | $0.50 | $0.49 | $0.48 | $0.10 | $8.26 | $8.25 | $0.81 | $2.12 | $0.15 | $0.13 | −$3.80 |
| Gross margin | 21.9% | 14.8% | 9.6% | 26.0% | 14.8% | 14.8% | 13.0% | 23.6% | 16.6% | 21.3% | 11.6% | 23.1% |
| Operating margin | 15.0% | 1.3% | 9.4% | 12.8% | −1.0% | 4.9% | −3.4% | 15.6% | 5.0% | 3.4% | 5.7% | 14.0% |
| Net margin | 11.6% | 8.2% | 11.1% | 9.4% | 2.6% | 6.6% | 272.9% | 18.1% | 61.9% | 4.6% | 4.7% | −89.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in KEN's financial statements (latest annual report filed March 30, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
KEN financial results
In fiscal year 2025 (ended December 31, 2025), Kenon reported revenue of $871.9 million, up 16.1% from the year before. It had net income of $66.3 million (down 88.9%), a net profit margin of 7.6%. Diluted earnings per share came to $9.32. Over five years revenue grew at an average rate of 17.7% a year.
See the KEN stock overview for the latest quote and news, or the KEN chart for price history and technical indicators.
KEN income statement FAQ
What is Kenon's annual revenue?
Kenon reported total revenue of $871.9 million for fiscal year 2025, which ended on December 31, 2025. That was up 16.1% from $751.3 million the previous year.
Is Kenon profitable?
Yes. Kenon reported net income of $66.3 million in fiscal 2025, a net profit margin of 7.6%; its operating margin was 7.2%.
What is Kenon's gross margin?
Kenon's gross margin was 16.8% in fiscal 2025: for every $100 of revenue, Kenon kept $17 after the direct cost of its products and services.
How fast is Kenon growing?
Revenue grew 17.7% a year on average over the last five fiscal years, from $386.5 million to $871.9 million.
What are Kenon's earnings per share?
Kenon earned $9.32 per diluted share in fiscal 2025, compared with $11.34 a year earlier.
When will Kenon report its next earnings?
Kenon is expected to report results for the quarter ending September 30, 2026 on December 2, 2026.
When does Kenon's fiscal year end?
Kenon's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 30, 2026.