Enlight Renewable Energy (ENLT) financial statements
Enlight Renewable Energy reported revenue of $489M in fiscal 2025, up 47.4% a year over 5 years.
Net income was $132M and the operating margin 68.0%, against 40.3% in 2020.
Free cash flow was -$1.5B, and the company returned $30M in dividends.
The diluted share count rose 69% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Enlight Renewable Energy's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $70M | $102M | $192M | $256M | $378M | $489M |
| Cost of revenue | $15M | $22M | $40M | $53M | $81M | $134M |
| Gross profit | $40M | $61M | $111M | $139M | $297M | $354M |
| Research and development | $3M | $5M | $6M | $6M | $12M | $12M |
| Selling, general and admin | $9M | $16M | $27M | $31M | $39M | $58M |
| Operating income | $28M | $34M | $91M | $158M | $176M | $332M |
| Interest expense | $31M | $37M | $63M | $68M | $108M | $165M |
| Pre-tax income | -$53M | $27M | $51M | $126M | $85M | $205M |
| Income tax | -$12M | $6M | $13M | $28M | $18M | $44M |
| Net income | -$44M | $11M | $25M | $71M | $44M | $132M |
| EPS (diluted) | -$0.56 | $0.12 | $0.25 | $0.57 | $0.36 | $1.00 |
| Diluted shares | 78M | 98M | 100M | 124M | 123M | 133M |
| 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% |
Balance sheet
Fiscal years, from Enlight Renewable Energy's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $99M | $266M | $194M | $404M | $387M | $528M |
| Receivables | — | $18M | $40M | $43M | $51M | $95M |
| Total current assets | — | $413M | $424M | $665M | $708M | $1.1B |
| Property, plant and equipment | — | $1.5B | $2.2B | $2.9B | $3.7B | $6.3B |
| Goodwill | — | $148M | $148M | — | — | — |
| Total assets | — | $2.8B | $3.5B | $4.6B | $5.5B | $8.6B |
| Total current liabilities | — | $201M | $385M | $583M | $592M | $1.6B |
| Total liabilities | — | $2.1B | $2.5B | $3.2B | $4.1B | $6.6B |
| Shareholders' equity | $512M | $533M | $804M | $1.2B | $1.2B | $1.7B |
| Net debt | -$99M | -$204M | -$28M | -$79M | -$175M | $356M |
Cash flow
Fiscal years, from Enlight Renewable Energy's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | $39M | $52M | $90M | $192M | $255M | $283M |
| Capital spending | $358M | $328M | $615M | $723M | $895M | $1.8B |
| Free cash flow | -$319M | -$276M | -$524M | -$531M | -$640M | -$1.5B |
| Stock-based compensation | $2M | $4M | $9M | $5M | $8M | $10M |
| Dividends paid | $8M | $2M | $3M | $13M | $26M | $30M |
| Share buybacks (net) | $0 | $0 | -$2M | $0 | $0 | — |
| Net borrowing | -$37M | -$20M | -$7M | -$3M | -$25M | -$69M |
| Free cash flow margin | -453.8% | -269.3% | -272.8% | -207.8% | -169.3% | -311.9% |
| Dividends per share | $0.11 | $0.02 | $0.03 | $0.11 | $0.21 | $0.22 |
Questions
What was Enlight Renewable Energy's revenue in 2025?
$489M in fiscal 2025, from its 10-K filing.
How much free cash flow does Enlight Renewable Energy generate?
-$1.5B in fiscal 2025 (operating cash flow minus capital spending).
From Enlight Renewable Energy's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.