D 
707.70
+1.10%
Close of 6 Nov 2026, in ILA
At a glance
Figures in ILS, from our data supplier.
Revenue
ILS 910.0m
FY2016FY2025
Net income
ILS 98.0m
FY2016FY2025
Free cash flow
−ILS 987.0m
FY2016FY2025
Shareholders' equity
ILS 1.88bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ILS 910.0m | ILS 973.0m | ILS 1.13bn | ILS 2.18bn | ILS 5.38bn | ILS 5.09bn | ILS 4.62bn | ILS 5.26bn | ILS 17.18bn | ILS 17.20bn |
| Research and development | — | — | ILS 1.0m | ILS 4.0m | ILS 4.0m | ILS 13.0m | ILS 32.0m | ILS 42.0m | ILS 40.0m | ILS 29.0m |
| Operating income | ILS 676.0m | ILS 683.0m | ILS 700.0m | ILS 1.30bn | ILS 982.0m | −ILS 360.0m | ILS 432.0m | ILS 611.0m | ILS 1.37bn | ILS 2.02bn |
| Net income | ILS 98.0m | ILS 31.0m | −ILS 698.0m | ILS 1.43bn | ILS 763.0m | −ILS 880.0m | −ILS 870.0m | ILS 539.0m | −ILS 273.0m | ILS 923.0m |
| Diluted earnings per share | 0.69 | 0.22 | -5.08 | 10.05 | 5.37 | -6.22 | -6.10 | 3.49 | -1.90 | 8.43 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ILS 25.13bn | ILS 23.83bn | ILS 29.44bn | ILS 33.36bn | ILS 18.22bn | ILS 18.98bn | ILS 20.11bn | ILS 29.40bn | ILS 34.82bn | ILS 34.50bn |
| Cash and short-term investments | ILS 1.28bn | ILS 1.39bn | ILS 1.46bn | ILS 3.36bn | ILS 3.25bn | ILS 4.59bn | ILS 4.69bn | ILS 7.18bn | ILS 6.31bn | ILS 6.29bn |
| Total liabilities | ILS 17.73bn | ILS 17.51bn | ILS 22.16bn | ILS 25.10bn | ILS 13.84bn | ILS 15.67bn | ILS 16.22bn | ILS 23.06bn | ILS 28.24bn | ILS 27.94bn |
| Debt | ILS 13.65bn | ILS 13.40bn | ILS 13.95bn | ILS 15.83bn | ILS 10.17bn | ILS 12.87bn | ILS 13.69bn | ILS 19.71bn | ILS 21.47bn | ILS 21.07bn |
| Shareholders' equity | ILS 1.88bn | ILS 1.83bn | ILS 1.71bn | ILS 2.36bn | ILS 1.52bn | ILS 1.23bn | ILS 1.82bn | ILS 2.32bn | ILS 1.67bn | ILS 2.31bn |
| Shares outstanding | 142m | 142m | 138m | 142m | 142m | 142m | 143m | 155m | 143m | 110m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ILS 266.0m | ILS 1.22bn | ILS 2.11bn | ILS 1.95bn | ILS 1.27bn | ILS 1.23bn | ILS 1.64bn | ILS 1.68bn | ILS 2.02bn | ILS 2.17bn |
| Capital spending | −ILS 1.25bn | −ILS 1.33bn | −ILS 31.0m | −ILS 11.0m | −ILS 254.0m | −ILS 215.0m | −ILS 603.0m | −ILS 983.0m | −ILS 1.30bn | −ILS 1.08bn |
| Free cash flow | −ILS 987.0m | −ILS 111.0m | ILS 2.08bn | ILS 1.94bn | ILS 1.02bn | ILS 1.01bn | ILS 1.04bn | ILS 699.0m | ILS 717.0m | ILS 1.09bn |
| Dividends paid | — | — | — | — | — | — | −ILS 40.0m | −ILS 40.0m | −ILS 678.0m | −ILS 678.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ILS 251.0m | ILS 240.0m | ILS 243.0m | ILS 235.0m | ILS 217.0m | ILS 215.0m | ILS 210.0m | ILS 225.0m |
| Operating income | ILS 189.0m | ILS 248.0m | ILS 173.0m | ILS 245.0m | ILS 318.0m | ILS 225.0m | ILS 153.0m | ILS 154.0m |
| Net income | ILS 7.0m | ILS 17.0m | ILS 5.0m | −ILS 16.0m | ILS 22.0m | ILS 87.0m | ILS 24.0m | −ILS 109.0m |
| Diluted earnings per share | 0.05 | 0.12 | 0.04 | -0.11 | 0.16 | 0.61 | 0.17 | -0.77 |
| Cash from operations | −ILS 427.0m | ILS 208.0m | ILS 46.0m | ILS 119.0m | ILS 162.0m | ILS 91.0m | ILS 94.0m | ILS 220.0m |
| Capital spending | −ILS 702.0m | −ILS 229.0m | −ILS 281.0m | −ILS 327.0m | −ILS 306.0m | — | — | — |
| Free cash flow | −ILS 1.13bn | −ILS 21.0m | −ILS 235.0m | −ILS 208.0m | −ILS 144.0m | — | — | — |
| Total assets | ILS 26.34bn | ILS 25.06bn | ILS 25.13bn | ILS 25.47bn | ILS 25.60bn | ILS 24.35bn | ILS 23.83bn | ILS 24.93bn |
| Cash and short-term investments | ILS 1.08bn | ILS 980.0m | ILS 1.28bn | ILS 1.92bn | ILS 2.42bn | ILS 1.66bn | ILS 1.39bn | ILS 2.28bn |
| Debt | ILS 14.59bn | ILS 13.46bn | ILS 13.65bn | ILS 14.61bn | ILS 14.79bn | ILS 13.62bn | ILS 13.39bn | ILS 14.64bn |
| Shareholders' equity | ILS 1.88bn | ILS 1.89bn | ILS 1.88bn | ILS 1.88bn | ILS 1.90bn | ILS 1.93bn | ILS 1.83bn | ILS 1.82bn |
Financial ratios
Data as of 5 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | 74.3% | 115.6% | 39.5% | 112.9% | 11.3% | -4.9% | — | — |
| Net margin | 10.8% | 3.2% | -61.7% | 65.8% | 14.2% | -17.3% | — | — |
| Return on equity | 5.2% | 1.7% | -40.8% | 60.6% | 50.3% | -71.5% | — | — |
| Return on assets | 0.4% | 0.1% | -2.4% | 4.3% | 4.2% | -4.6% | — | — |
| Free cash flow yield | 1.5% | 2.5% | 2.1% | 1.9% | 1.5% | 1.4% | — | — |
| Revenue growth | -6.5% | -14.0% | -48.0% | -59.5% | 5.6% | 10.2% | — | — |
| Earnings growth | 216.1% | -104.4% | -148.8% | 87.5% | -186.7% | 1.1% | — | — |
| Current ratio | 0.77x | 0.88x | 1.21x | 1.24x | 1.80x | 1.81x | — | — |
| Debt to equity | 7.28x | 7.32x | 8.15x | 6.66x | 6.69x | 10.44x | — | — |
| Equity ratio | 7.5% | 7.7% | 5.8% | 7.1% | 8.3% | 6.5% | — | — |
| Interest coverage | 1.23x | 1.78x | 0.71x | 3.40x | 1.05x | -0.43x | — | — |
| R&D as a share of sales | — | — | 0.1% | 0.2% | 0.1% | 0.3% | 0.7% | 0.8% |
| Buybacks as a share of market value | -0.0% | -2.9% | 3.4% | -0.1% | -0.5% | 0.8% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -25.2% | -29.1% | -25.3% |
| Operating income | -19.6% | — | -2.5% |
| Net income | -59.1% | — | 3.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 72.2% | 64.8% | 25.4% | 12.1% |
| Net margin | 6.9% | 16.6% | 4.8% | 1.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 13.8 | 19.7 | -0.7 | 0.5 | 2.1 | -1.5 | -1.0 | 2.5 | -6.8 | 1.3 |
| Price to sales | 1.5 | 0.6 | 0.4 | 0.3 | 0.3 | 0.3 | 0.2 | 0.3 | 0.1 | 0.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 24 Jan 2019.
| FY2019 | FY2017 | FY2014 | FY2011 | FY2010 | FY2009 | FY2008 | FY2007 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.275 | 4.50 | 2.347 | 2.112 | 15.723 | 0.196 | 7.158 | 0.263 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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