Enlight Renewable Energy Ltd. (ENLT) vs ReNew Energy Global PLC (RNW)

Enlight Renewable Energy Ltd. and ReNew Energy Global PLC are both Utilities Renewable companies. Enlight Renewable Energy Ltd. is the larger, with a market value of $9.6B against $2.5B — 3.9× the size. ReNew Energy Global PLC trades at the lower P/E: 21.7× against 102×. Enlight Renewable Energy Ltd. grew revenue faster over the last twelve months: 37.6% against 11.9%. Enlight Renewable Energy Ltd. has the higher net margin (15.3% vs 6.62%) and the lower return on invested capital (2.49% vs 6.79%). Across the 20 metrics below, ReNew Energy Global PLC leads on 13 and Enlight Renewable Energy Ltd. on 7.

Valuation

Metric ENLT RNW Utilities Renewable median
P/E 102.49 21.75 18.99
P/S 16.60 1.53 2.58
P/B 3.97 1.54 1.38
Price to free cash flow n/m n/m 5.71
EV/EBITDA 31.05 8.27 16.32
EV/Sales 25.34 6.00 5.43
Earnings yield 0.98% 4.60% (12.46%)
Free cash flow yield (22.07%) (11.03%) (21.58%)

Profitability

Metric ENLT RNW Utilities Renewable median
Gross margin 40.59% 84.06% 41.45%
Operating margin 51.37% 59.41% 0.00%
Net margin 15.33% 6.62% (0.87%)
Free cash flow margin (366.54%) (16.86%) (9.23%)
Return on equity 4.38% 6.73% 0.00%
Return on assets 1.04% 0.95% (2.61%)
Return on invested capital 2.49% 6.79% 0.00%

Growth

Metric ENLT RNW Utilities Renewable median
Revenue growth (TTM) 37.55% 11.87% 10.25%
EPS growth (last fiscal year) 177.78% 123.08% —
Revenue growth, 5-year CAGR 47.36% 15.47% 6.29%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ENLT RNW Utilities Renewable median
Debt to equity 2.62 5.15 0.59
Current ratio 1.12 0.43 1.16
Net debt to EBITDA 8.65 6.64 2.66

Dividend

Metric ENLT RNW Utilities Renewable median
Dividend yield — — 5.61%
Payout ratio — 0.00 0.00

Size

Metric ENLT RNW Utilities Renewable median
Market cap 9.63b 2.50b 239.67m

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