E 
1,844.00
-2.02%
Close of 6 Nov 2026, in ILA
At a glance
Figures in ILS, from our data supplier.
Revenue
ILS 755.7m
FY2016FY2025
Net income
ILS 250.2m
FY2016FY2025
Free cash flow
−ILS 2.31bn
FY2016FY2025
Shareholders' equity
ILS 2.60bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ILS 755.7m | ILS 897.6m | ILS 681.9m | ILS 527.3m | ILS 266.6m | ILS 263.1m | ILS 238.6m | ILS 170.6m | ILS 141.4m | ILS 113.2m |
| Research and development | ILS 39.6m | — | — | — | — | — | — | — | ILS 2.0m | ILS 1.9m |
| Operating income | ILS 185.9m | ILS 404.1m | ILS 326.8m | ILS 264.7m | ILS 87.6m | ILS 143.1m | ILS 115.2m | ILS 74.0m | ILS 48.3m | ILS 36.2m |
| Net income | ILS 250.2m | ILS 337.8m | ILS 258.3m | ILS 236.7m | ILS 79.3m | ILS 77.2m | ILS 62.8m | ILS 31.4m | ILS 17.1m | ILS 6.2m |
| Diluted earnings per share | 0.43 | 0.61 | 0.47 | 0.40 | 0.14 | 0.16 | 0.14 | 0.08 | 0.05 | 0.02 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ILS 13.21bn | ILS 11.17bn | ILS 9.81bn | ILS 6.08bn | ILS 4.78bn | ILS 3.81bn | ILS 2.55bn | ILS 1.72bn | ILS 1.53bn | ILS 1.27bn |
| Cash and short-term investments | ILS 1.25bn | ILS 463.6m | ILS 567.7m | ILS 465.1m | ILS 575.1m | ILS 961.7m | ILS 151.4m | ILS 92.0m | ILS 96.4m | ILS 39.1m |
| Total liabilities | ILS 10.61bn | ILS 8.86bn | ILS 7.44bn | ILS 3.75bn | ILS 3.27bn | ILS 2.22bn | ILS 1.55bn | ILS 991.5m | ILS 842.9m | ILS 743.0m |
| Debt | ILS 8.64bn | ILS 6.17bn | ILS 5.41bn | ILS 2.85bn | ILS 2.57bn | ILS 1.78bn | ILS 1.31bn | ILS 887.1m | ILS 719.7m | ILS 650.0m |
| Shareholders' equity | ILS 2.60bn | ILS 2.31bn | ILS 2.37bn | ILS 2.33bn | ILS 1.51bn | ILS 1.58bn | ILS 992.7m | ILS 723.8m | ILS 682.5m | ILS 520.6m |
| Shares outstanding | 578m | 551m | 552m | 594m | 549m | 491m | 463m | 405m | 377m | 353m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ILS 129.4m | ILS 338.2m | ILS 505.8m | ILS 284.7m | ILS 103.5m | ILS 171.3m | ILS 151.6m | ILS 72.5m | ILS 78.9m | ILS 40.4m |
| Capital spending | −ILS 2.44bn | −ILS 1.44bn | −ILS 2.29bn | −ILS 1.13bn | −ILS 1.19bn | −ILS 627.9m | −ILS 481.3m | −ILS 319.5m | −ILS 94.4m | −ILS 361.2m |
| Free cash flow | −ILS 2.31bn | −ILS 1.10bn | −ILS 1.78bn | −ILS 846.3m | −ILS 1.09bn | −ILS 456.6m | −ILS 329.7m | −ILS 247.1m | −ILS 15.5m | −ILS 320.8m |
| Dividends paid | −ILS 220.3m | −ILS 329.5m | −ILS 252.0m | −ILS 106.8m | −ILS 87.7m | −ILS 75.9m | −ILS 75.9m | −ILS 75.9m | −ILS 75.9m | −ILS 12.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ILS 270.7m | ILS 269.7m | ILS 192.8m | ILS 198.8m | ILS 195.9m | ILS 169.9m | ILS 233.2m | ILS 209.6m |
| Operating income | ILS 119.4m | ILS 123.2m | ILS 44.5m | ILS 50.6m | ILS 52.9m | ILS 39.6m | ILS 111.4m | ILS 63.9m |
| Net income | −ILS 128.7m | ILS 57.5m | ILS 87.9m | ILS 118.6m | ILS 1.7m | ILS 42.0m | ILS 110.3m | ILS 61.6m |
| Diluted earnings per share | -0.22 | 0.10 | 0.15 | 0.21 | 0.00 | 0.07 | 0.20 | 0.11 |
| Cash from operations | ILS 57.0m | ILS 52.0m | ILS 6.0m | ILS 52.0m | ILS 27.0m | ILS 43.0m | ILS 78.0m | ILS 121.0m |
| Capital spending | −ILS 615.0m | −ILS 643.0m | −ILS 529.0m | −ILS 835.0m | −ILS 631.0m | −ILS 442.0m | −ILS 487.0m | −ILS 339.0m |
| Free cash flow | −ILS 558.0m | −ILS 591.0m | −ILS 523.0m | −ILS 783.0m | −ILS 604.0m | −ILS 399.0m | −ILS 409.0m | −ILS 218.0m |
| Total assets | ILS 13.24bn | ILS 13.02bn | ILS 13.21bn | ILS 12.78bn | ILS 12.04bn | ILS 11.96bn | ILS 11.17bn | ILS 10.76bn |
| Cash and short-term investments | ILS 499.2m | ILS 423.3m | ILS 1.25bn | ILS 508.6m | ILS 628.3m | ILS 544.5m | ILS 463.6m | ILS 417.4m |
| Debt | ILS 7.67bn | ILS 7.35bn | ILS 7.41bn | ILS 7.24bn | ILS 6.89bn | ILS 6.23bn | ILS 5.57bn | ILS 5.15bn |
| Shareholders' equity | ILS 2.30bn | ILS 2.59bn | ILS 2.60bn | ILS 2.17bn | ILS 2.16bn | ILS 2.36bn | ILS 2.31bn | ILS 2.33bn |
Financial ratios
Data as of 4 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | 24.6% | 45.0% | 47.9% | 50.2% | 32.8% | 54.4% | — | — | — | — | — |
| Net margin | 33.1% | 37.6% | 37.9% | 44.9% | 29.7% | 29.3% | — | — | — | — | — |
| Return on equity | 9.6% | 14.6% | 10.9% | 10.2% | 5.2% | 4.9% | — | — | — | — | — |
| Return on assets | 1.9% | 3.0% | 2.6% | 3.9% | 1.7% | 2.0% | — | — | — | — | — |
| Free cash flow yield | 0.2% | 0.2% | 0.3% | 0.1% | 0.1% | 0.1% | — | — | — | — | — |
| Revenue growth | -15.8% | 31.6% | 29.3% | 97.8% | 1.4% | 10.3% | — | — | — | — | — |
| Earnings growth | -25.9% | 30.8% | 9.1% | 198.4% | 2.7% | 22.9% | — | — | — | — | — |
| Current ratio | 0.67x | 0.37x | 0.68x | 1.26x | 1.80x | 3.56x | — | — | — | — | — |
| Debt to equity | 2.84x | 2.41x | 2.08x | 1.06x | 1.52x | 1.00x | — | — | — | — | — |
| Equity ratio | 19.7% | 20.7% | 24.2% | 38.3% | 31.6% | 41.5% | — | — | — | — | — |
| Interest coverage | 0.75x | 1.90x | 4.06x | 4.82x | 4.04x | 4.74x | — | — | — | — | — |
| R&D as a share of sales | 5.2% | — | — | — | — | — | 1.4% | 1.7% | 4.1% | 1.4% | 28.1% |
| Buybacks as a share of market value | -4.8% | 0.1% | 7.2% | -8.2% | -11.8% | -6.2% | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 12.7% | 23.5% | 29.7% |
| Operating income | -11.1% | 5.4% | 23.3% |
| Net income | 1.9% | 26.5% | 39.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 35.7% | 41.3% | 41.6% | 41.6% |
| Net margin | 35.6% | 37.8% | 36.5% | 33.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 37.1 | 20.4 | 28.4 | 27.8 | 91.7 | 93.3 | 75.9 | 61.7 | 75.3 | 135.6 |
| Price to sales | 12.3 | 7.7 | 10.8 | 12.5 | 27.3 | 27.4 | 20.0 | 11.3 | 9.1 | 7.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 6 years. Last went ex-dividend on 1 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.30 | 0.43 | 0.60 | 0.46 | 0.20 | 0.18 | 0.16 | 0.04 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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