WallStSmart

Kenon Holdings (KEN)vsMiddlesex Water Company (MSEX)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Kenon Holdings generates 338% more annual revenue ($871.93M vs $199.11M). MSEX leads profitability with a 22.1% profit margin vs 7.6%. MSEX trades at a lower P/E of 21.2x. MSEX earns a higher WallStSmart Score of 59/100 (C).

KEN

Hold

40

out of 100

Grade: F

Growth: 6.7Profit: 4.5Value: 3.0Quality: 7.5
Piotroski: 5/9Altman Z: 2.23

MSEX

Buy

59

out of 100

Grade: C

Growth: 6.0Profit: 7.0Value: 4.0Quality: 3.0
Piotroski: 1/9Altman Z: 0.81
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

KENSignificantly Overvalued (-39.8%)

Margin of Safety

-39.8%

Fair Value

$54.56

Current Price

$91.99

$37.43 premium

UndervaluedFair: $54.56Overvalued
MSEXOvervalued (-12.8%)

Margin of Safety

-12.8%

Fair Value

$45.82

Current Price

$51.15

$5.33 premium

UndervaluedFair: $45.82Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

KEN1 strengths · Avg: 10.0/10
Revenue GrowthGrowth
43.1%10/10

Revenue surging 43.1% year-over-year

MSEX3 strengths · Avg: 8.3/10
Profit MarginProfitability
22.1%9/10

Keeps 22 of every $100 in revenue as profit

Price/BookValuation
1.9x8/10

Reasonable price relative to book value

Operating MarginProfitability
29.3%8/10

Strong operational efficiency at 29.3%

Areas to Watch

KEN4 concerns · Avg: 2.5/10
Return on EquityProfitability
5.1%3/10

ROE of 5.1% — below average capital efficiency

Profit MarginProfitability
7.6%3/10

7.6% margin — thin

P/E RatioValuation
69.1x2/10

Premium valuation, high expectations priced in

EPS GrowthGrowth
-93.7%2/10

Earnings declined 93.7%

MSEX4 concerns · Avg: 2.5/10
Market CapQuality
$948.54M3/10

Smaller company, higher risk/reward

Piotroski F-ScoreQuality
1/93/10

Weak financial health signals

PEG RatioValuation
18.452/10

Expensive relative to growth rate

Free Cash FlowQuality
$-8.91M2/10

Negative free cash flow — burning cash

Comparative Analysis Report

WallStSmart Research

Bull Case : KEN

The strongest argument for KEN centers on Revenue Growth. Revenue growth of 43.1% demonstrates continued momentum.

Bull Case : MSEX

The strongest argument for MSEX centers on Profit Margin, Price/Book, Operating Margin. Profitability is solid with margins at 22.1% and operating margin at 29.3%.

Bear Case : KEN

The primary concerns for KEN are Return on Equity, Profit Margin, P/E Ratio. A P/E of 69.1x leaves little room for execution misses.

Bear Case : MSEX

The primary concerns for MSEX are Market Cap, Piotroski F-Score, PEG Ratio.

Key Dynamics to Monitor

KEN profiles as a hypergrowth stock while MSEX is a mature play — different risk/reward profiles.

MSEX carries more volatility with a beta of 0.78 — expect wider price swings.

KEN is growing revenue faster at 43.1% — sustainability is the question.

KEN generates stronger free cash flow (53M), providing more financial flexibility.

Bottom Line

MSEX scores higher overall (59/100 vs 40/100), backed by strong 22.1% margins. Both earn "Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Kenon Holdings

UTILITIES · UTILITIES - INDEPENDENT POWER PRODUCERS · USA

Kenon Holdings Ltd., is the owner, developer and operator of power generation facilities in Israel and internationally. The company is headquartered in Singapore.

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Middlesex Water Company

UTILITIES · UTILITIES - REGULATED WATER · USA

Middlesex Water Company owns and operates regulated water and wastewater utility systems. The company is headquartered in Iselin, New Jersey.

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