Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Discount Rate | 10.5% - 9.5% | 10.0% |
| Terminal EBITDA Multiple | 13.0x - 15.0x | 14.0x |
| Fair Value | ₪10.22 - ₪13.60 | ₪11.88 |
| Upside | -46.0% - -28.1% | -37.2% |
| Select Revenue and EBITDA Forecast | ||||||
| (ILS in millions) | Input Projections | |||||
| Fiscal Years Ending | Dec-24 | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 |
| Revenue | 1,523 | 1,827 | 2,056 | 2,210 | 2,287 | 2,333 |
| % Growth | 46.4% | 20.0% | 12.5% | 7.5% | 3.5% | 2.0% |
| EBITDA | 280 | 373 | 471 | 529 | 547 | 558 |
| % of Revenue | 18.4% | 20.4% | 22.9% | 23.9% | 23.9% | 23.9% |
| Calculation of Free Cash Flow | ||||||
| Projected Unlevered Cash Flow | ||||||
| (ILS in millions) | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | |
| EBITDA | 373 | 471 | 529 | 547 | 558 | |
| Other Income / (Exp) | 0 | 0 | 0 | 0 | 0 | |
| D&A | (7) | (8) | (9) | (9) | (9) | |
| EBIT | 366 | 463 | 520 | 538 | 549 | |
| Pro forma Taxes | (70) | (88) | (99) | (102) | (104) | |
| NOPAT | 222 | 296 | 375 | 421 | 436 | 445 |
| Capital Expenditures | (5) | (6) | (7) | (7) | (8) | (8) |
| NWC Investment | (783) | (494) | (370) | (250) | (125) | (74) |
| (+) D&A | 6 | 7 | 8 | 9 | 9 | 9 |
| Free Cash Flow | (560) | (196) | 6 | 173 | 312 | 372 |
| % Growth | NM | NM | 2726% | 81% | 19% | |