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TickerGNE
SectorRegulated Electric
Mkt cap$381M
EV / EBITDA4.9×
PostureHigh Velocity
Composite62/100
LensTarget-side
SE-Cluster Research·Issuer Brief·Q2 2026CIK 1528356

Genie Energy Ltd.

GNEHIGH VELOCITYFILING INTENSITY

Genie Energy Ltd. reads as High Velocity (composite 62/100); pressure / disclosure signals dominate the posture this cycle · primary market Energy Infrastructure.

Lens

Disclosed M&A capital (2023–2025)

$9M

+424%

vs $2M in 2020–2022

Disclosed transactions

10

new

2/3 active fiscal years in window

Buyer archetype

Consistent Strategic Buyer

Meaningful spend appears across repeat years.

Composite score

62

/100

High Velocity dominates · Filing Intensity

Financial snapshot
Revenue$502M
EBITDA$38M
Enterprise value$186M
EV / Revenue0.4×
EV / EBITDA4.9×
P/EN/A
Cash$204M
Total debt$2M
as of 2026-05-10
§ I·SE-Cluster Issuer Brief

Behavioral posture, nine reads.

Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.

Active Acquirer

5/100

Companies actively deploying disclosed capital into M&A

  • $28M disclosed buyer spend

Buyer Cadence

8/100

Buyer-side companies with recent filing activity

  • 208 8-Ks

Target Probability

18/100

Issuers showing target-side patterns from filings

  • 6 activism filings

Spin/Carve

0/100

Issuers showing spin-off, carve-out, or sum-of-parts posture

  • 6 activism filings

Pressure Watch

40/100

Issuers facing activism, governance, or control pressure

  • 6 activism filings
  • Latest activism 1.8y ago

Distress Watch

44/100

Issuers showing financial-distress filing patterns

  • 10-Q 247d stale
  • 6 activism filings

Restatement Risk

0/100

Issuers with accounting-integrity flags from filings

Capital Velocity

Dominant
62/100

Issuers with the highest filing-activity intensity

  • 208 8-Ks
  • 5 form types

Quiet Power

0/100

Large issuers with low signal volume and clean disclosure cadence

  • Enterprise value $187M
  • 10-Q 247d ago
  • 2 active signals
§ II·SE-Cluster Issuer Brief

Capital cadence.

Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.

16
17
18
19
20
21
22
23
24
25

Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $9M · Peak count: 10

FYDisclosed buysDisclosed spendAvg ticketAudited tier
2025N/AN/AN/AN/A
2024N/A$1MN/AN/A
202310$8M$770KN/A
2022N/AN/AN/AN/A
2021N/AN/AN/AN/A
2020N/A$2MN/AN/A
§ III·SE-Cluster Issuer Brief

Strategy posture.

The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.

Archetype mix

  • Bolt On
    33%
  • Geographic Expansion
    33%
  • Platform
    33%

Strategy keywords

Terms recurring across recent 10-K acquisition disclosures.

  • bolt_on
  • geographic_expansion
  • platform
§ IV·SE-Cluster Issuer Brief

Filing language.

Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.

Our growth strategy is based, in part, on our ability to acquire businesses and assets that are complementary to our existing operations.

10-KFY2017

In May 2018, GRE acquired Smile Energy G.K., a Japanese company licensed to provide electricity to end-use costumers in Japan.

10-KFY2018

In the fourth quarter of 2018, we revised our reportable segments in connection with the acquisition of Prism

10-KFY2018

There are dozens of registered REPs in Finland and Sweden, including those operated by energy producers, affiliates of local grid companies and independent contractors. In recent years, the REP industry has experienced consolidation resulting in larger REPs. Most of the traditional REPs are either wholly-owned by the local municipality or the local municipality has an ownership interest in the REP. These REPs are generally defensive businesses that do not attract customers outside their local geographical area.

10-KFY2021

We may also seek to acquire other businesses.

10-KFY2017
§ V·SE-Cluster Issuer Brief

Market context.

Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.

Primary market

Energy Infrastructure

Market spend (2023–2025)
$86.6B
Market spend (2020–2022)
$40.3B
Recent vs prior
+115%
Issuer rank in market
N/A
Share of market capital
0.0%

Valuation positioning

4.9×EV / EBITDA

GNE trades at a -8.0-turn discount to the Energy Infrastructure peer median of 12.9×.

EV / Revenue
0.4×
Net debt / EBITDA
-5.3×
Peer median EV / EBITDA
12.9×

Trading comparables

FMP market data · 2026-05-10

CompanyEV / EBITDAEV / RevNet debt / EBITDARevenueM&A 2023–2025
19.9×11.8×9.3×$1.5B$1B
13.3×4.8×-0.3×$9.3B$3.7B
12.5×2.5×0.9×$35.9B$5.8B
7.0×2.7×-0.2×$58.3B$2.7B
Genie Energy Ltd.GNE
4.9×0.4×-5.3×$502M$9M

Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Energy Infrastructure. Bars scaled to the highest EV/EBITDA in the set.

§ VI·SE-Cluster Issuer Brief

Buyer landscape.

Public buyers whose stated archetypes, target categories, and recent cadence align with this issuer as a plausible acquisition target. Scores cross EDGAR signal and disclosure overlap.

Likely buyers

No public buyers surface as a strong target-side fit on current signal.

Likely sellers / divestiture partners

No reciprocal divestiture / strategic-alternatives matches identified.

§ VII·SE-Cluster Issuer Brief

Filing activity & signal stream.

Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.

Filing cadence

  • 10-K (annual)142026-05-01
  • 10-Q (quarterly)452025-11-06
  • 8-K (event)2082026-04-07
  • Proxy / DEF 14A152026-05-01
  • Activism (13D / DFAN / PREC)62024-09-30

Signals on file

  • elevated

    Activism on file

    2024-09-30

    6 activist filings on file (13D, DFAN14A, PREC14A series).

  • info

    Signal

    Serial acquisition history

  • info

    Signal

    10-K strategy themes

§ VIII·SE-Cluster Issuer Brief

Audited corpus.

No audited record on file for this CIK in the current v6 corpus.

This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.