T 
1,283.00
+3.05%
Close of 6 Nov 2026, in ILA
At a glance
Figures in ILS, from our data supplier.
Revenue
ILS 20.1m
FY2018FY2024
Net income
−ILS 40.4m
FY2018FY2024
Free cash flow
−ILS 155.2m
FY2018FY2024
Shareholders' equity
ILS 336.6m
FY2018FY2024
Income statement
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|
| Revenue | ILS 20.1m | ILS 79.8m | ILS 56.2m | ILS 18.1m | ILS 3.4m | — | — |
| Gross profit | ILS 6.2m | ILS 22.0m | ILS 18.0m | ILS 4.9m | — | — | — |
| Operating income | −ILS 26.0m | −ILS 5.7m | −ILS 1.4m | −ILS 3.2m | ILS 2.5m | −ILS 1.7m | −ILS 1.0m |
| Net income | −ILS 40.4m | −ILS 11.4m | −ILS 9.5m | −ILS 7.5m | −ILS 2.4m | −ILS 2.5m | −ILS 2.0m |
| Diluted earnings per share | -0.71 | -0.16 | -0.11 | -0.12 | -0.03 | -0.03 | -0.03 |
Balance sheet
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|
| Total assets | ILS 1.26bn | ILS 1.17bn | ILS 587.3m | ILS 491.7m | ILS 77.2m | ILS 44.5m | — |
| Cash and short-term investments | ILS 67.3m | ILS 191.4m | ILS 64.0m | ILS 168.1m | ILS 45.4m | ILS 26.9m | — |
| Total liabilities | ILS 928.3m | ILS 790.6m | ILS 235.0m | ILS 134.1m | ILS 1.5m | ILS 40.1m | — |
| Debt | ILS 817.6m | ILS 712.2m | ILS 173.1m | ILS 51.2m | ILS 1.4m | ILS 38.4m | — |
| Shareholders' equity | ILS 336.6m | ILS 378.5m | ILS 352.3m | ILS 357.6m | ILS 75.7m | ILS 4.4m | — |
| Shares outstanding | 56m | 71m | 86m | 62m | 73m | 73m | 73m |
Cash flow
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −ILS 15.3m | −ILS 47.8m | −ILS 26.6m | −ILS 17.8m | ILS 96,000 | −ILS 2.4m | −ILS 1.1m |
| Capital spending | −ILS 139.9m | −ILS 379.7m | −ILS 155.3m | −ILS 80.4m | −ILS 3,000 | — | — |
| Free cash flow | −ILS 155.2m | −ILS 427.6m | −ILS 181.8m | −ILS 98.2m | ILS 93,000 | −ILS 2.4m | −ILS 1.1m |
Latest quarters
By quarter end
| Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ILS 25.3m | ILS 25.1m | ILS 13.5m | −ILS 12.8m | ILS 12.1m | ILS 11.9m | ILS 8.9m | ILS 24.3m |
| Gross profit | ILS 10.5m | ILS 10.4m | ILS 4.1m | −ILS 45,000 | ILS 3.8m | ILS 2.5m | −ILS 88,000 | ILS 8.0m |
| Operating income | ILS 9.9m | ILS 6.6m | −ILS 2.8m | −ILS 11.1m | −ILS 4.2m | −ILS 6.9m | −ILS 11.0m | ILS 1.7m |
| Net income | −ILS 2.0m | −ILS 5.0m | −ILS 3.8m | −ILS 18.4m | −ILS 3.4m | −ILS 7.8m | −ILS 10.8m | −ILS 4.0m |
| Diluted earnings per share | -0.11 | -0.07 | -0.10 | -0.51 | -0.05 | -0.11 | -0.15 | -0.06 |
| Total assets | ILS 1.30bn | ILS 1.28bn | ILS 1.28bn | ILS 1.26bn | ILS 1.29bn | ILS 1.24bn | ILS 1.20bn | ILS 1.17bn |
| Cash and short-term investments | ILS 38.9m | ILS 49.5m | ILS 70.3m | ILS 67.3m | ILS 87.4m | ILS 147.3m | ILS 154.3m | ILS 191.4m |
| Debt | ILS 736.5m | ILS 736.8m | ILS 737.5m | ILS 715.7m | ILS 719.4m | ILS 715.4m | ILS 724.1m | ILS 660.7m |
| Shareholders' equity | ILS 355.8m | ILS 361.3m | ILS 377.3m | ILS 336.6m | ILS 358.0m | ILS 360.8m | ILS 367.9m | ILS 378.5m |
Financial ratios
Data as of 3 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 33.4% | 27.6% | 27.5% | 35.1% | 28.3% | 100.0% |
| Operating margin | 19.8% | -129.6% | 0.6% | -15.6% | -33.5% | 47.1% |
| Net margin | -8.9% | -201.1% | -14.3% | -14.8% | -41.2% | -506.5% |
| Return on equity | -1.6% | -13.3% | -3.3% | -2.4% | -2.1% | -3.2% |
| Return on assets | -0.5% | -3.2% | -1.0% | -1.4% | -1.5% | -3.1% |
| Free cash flow yield | 0.1% | 0.1% | 0.5% | 0.1% | 0.1% | 0.0% |
| Revenue growth | 277.8% | -74.8% | 41.9% | 210.8% | 3684.9% | — |
| Earnings growth | -83.2% | 255.2% | 36.3% | 11.9% | 207.9% | -4.4% |
| Current ratio | 2.26x | 1.43x | 3.58x | 2.34x | 4.02x | 77.98x |
| Debt to equity | 1.93x | 2.38x | 1.80x | 0.26x | 0.07x | 0.00x |
| Equity ratio | 28.9% | 24.0% | 29.5% | 60.0% | 72.6% | 98.1% |
| Interest coverage | 0.38x | -3.57x | 0.03x | -4.61x | -34.02x | 0.06x |
| Buybacks as a share of market value | 28.7% | -107.3% | 27.1% | -25.5% | 8.4% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.6% | — | — |
| Operating income | 100.7% | 73.0% | — |
| Net income | 75.7% | 74.0% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 28.2% | 29.3% | — | — |
| Operating margin | -31.8% | -20.9% | — | — |
| Net margin | -51.8% | -39.4% | — | — |
Valuation history
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|
| Price to earnings | -9.1 | -45.0 | -43.4 | -62.5 |
| Price to sales | 18.3 | 6.4 | 7.3 | 25.7 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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