Find winning stocks in any market cycle. Join 7 million investors using Simply Wall St’s investing ideas for FREE.

Enlight Renewable Energy (TASE:ENLT) has drawn fresh attention after a strong recent stretch, with the stock showing a 21.4% gain over the past month and 40.6% over the past 3 months.

For investors tracking momentum alongside fundamentals, Enlight’s ₪160.40 last close and reported revenue of $457.756 million with net income of $122.997 million help frame the latest move in concrete financial terms.

See our latest analysis for Enlight Renewable Energy.

That recent burst of momentum comes after a mixed year, with a 6.9% year to date share price return but a much stronger 164.6% total shareholder return over one year. This suggests sentiment has improved and investors are reassessing the company’s growth and risk profile.

If Enlight’s move has you thinking about what else could be setting up for a strong run, this is also a good moment to scan fast growing stocks with high insider ownership for other potential ideas.

With a ₪160.40 share price and recent gains, alongside reported revenue of $457.756 million and net income of $122.997 million, the key question now is whether Enlight Renewable Energy still offers an attractive opportunity at its current valuation or if the market is already fully reflecting investor expectations.

Enlight Renewable Energy currently trades on a P/E of 54.8x, which is high relative to many peers and sets a demanding bar against its ₪160.40 last close.

The P/E multiple compares the share price to earnings per share and is often used for companies with a clear earnings profile such as utility scale renewables.

With earnings forecast to grow at a high rate over the next few years and revenue growth expectations also strong, this richer multiple suggests the market is pricing in continued expansion rather than treating Enlight as a mature, low growth utility.

Against that backdrop, Enlight’s 54.8x P/E stands well above both the Asian renewable energy industry average of 16x and the peer average of 44.5x, pointing to a premium evaluation of its earnings power.

See what the numbers say about this price — find out in our valuation breakdown.

Result: Price-to-Earnings of 54.8x (OVERVALUED)

However, this richer P/E leaves less room for disappointment if revenue or net income growth slows, or if project development faces delays or cost pressures.

Find out about the key risks to this Enlight Renewable Energy narrative.

If this perspective does not fully match your view, or you prefer to work from the raw numbers yourself, you can build a fresh narrative in a few minutes, starting with Do it your way.