WallStSmart

Kenon Holdings (KEN)vsNorthWestern Corporation (NWE)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

NorthWestern Corporation generates 88% more annual revenue ($1.64B vs $871.93M). NWE leads profitability with a 10.2% profit margin vs 7.6%. NWE trades at a lower P/E of 26.1x. NWE earns a higher WallStSmart Score of 55/100 (C).

KEN

Hold

40

out of 100

Grade: F

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

NWE

Buy

55

out of 100

Grade: C

Growth: 4.0Profit: 5.5Value: 4.0Quality: 3.0
Piotroski: 3/9Altman Z: 0.75
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

KENSignificantly Overvalued (-39.5%)

Margin of Safety

-39.5%

Fair Value

$54.68

Current Price

$88.89

$34.21 premium

UndervaluedFair: $54.68Overvalued
NWEOvervalued (-5.1%)

Margin of Safety

-5.1%

Fair Value

$65.14

Current Price

$72.39

$7.25 premium

UndervaluedFair: $65.14Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

KEN2 strengths · Avg: 9.0/10
Revenue GrowthGrowth
43.1%10/10

Revenue surging 43.1% year-over-year

Price/BookValuation
2.9x8/10

Reasonable price relative to book value

NWE2 strengths · Avg: 8.0/10
Price/BookValuation
1.5x8/10

Reasonable price relative to book value

Operating MarginProfitability
23.0%8/10

Strong operational efficiency at 23.0%

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
68.0x2/10

Premium valuation, high expectations priced in

EPS GrowthGrowth
-93.7%2/10

Earnings declined 93.7%

NWE4 concerns · Avg: 3.3/10
P/E RatioValuation
26.1x4/10

Moderate valuation

Return on EquityProfitability
5.8%3/10

ROE of 5.8% — below average capital efficiency

Debt/EquityHealth
1.143/10

Elevated debt levels

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Comparative Analysis Report

WallStSmart Research

Bull Case : KEN

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

Bull Case : NWE

The strongest argument for NWE centers on Price/Book, Operating Margin.

Bear Case : KEN

The primary concerns for KEN are Return on Equity, Profit Margin, P/E Ratio. A P/E of 68.0x leaves little room for execution misses.

Bear Case : NWE

The primary concerns for NWE are P/E Ratio, Return on Equity, Debt/Equity.

Key Dynamics to Monitor

KEN profiles as a hypergrowth stock while NWE is a value play — different risk/reward profiles.

KEN carries more volatility with a beta of 0.38 — 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

NWE scores higher overall (55/100 vs 40/100). 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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NorthWestern Corporation

UTILITIES · UTILITIES - REGULATED ELECTRIC · USA

NorthWestern Corporation, doing business as NorthWestern Energy, provides electricity and natural gas to residential, commercial and industrial customers. The company is headquartered in Sioux Falls, South Dakota.

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